US-focused ETFs pulled in $37.1B last week. That is the dominant story in global fund flows right now. The flow imbalance sits at 66.9 — firmly in buying-pressure territory. Over three months, the US haul reaches $389.5B, cementing its position as the world's preferred equity destination.
Japan is the clear runner-up, drawing $6.4B in the past week. Over three months, Japan has attracted $67.7B — the second-largest geography inflow globally. Emerging Markets added $1.6B this week, with a notably high flow imbalance of 79.3, showing concentrated buying pressure. Global Ex-US funds also posted a strong 88.3 imbalance, though on smaller volumes of $1.5B.
The notable laggard is South Korea. It shed $1.2B last week. Over three months, however, South Korea attracted $38.2B — a sharp contrast that signals a potential short-term reversal. Latin America and Israel both saw small but clean net outflows this week with near-zero inflows.
Financials was the worst sector this week, bleeding $2.7B with a flow imbalance of just 18. That is heavy selling pressure. Over three months, though, Financials attracted $3.7B — another sharp reversal worth watching.
Energy flipped positive this week with $515M in net inflows after suffering $6.1B in outflows over three months. That is a meaningful trend shift. Short-term buyers are returning to energy while the three-month picture remains deeply negative.
Industrials added $207M this week, consistent with the $5.4B drawn over three months. Health Care stayed negative this week at -$233M, despite attracting $6.3B over three months. Tech (Information Technology) was near-flat on the week at +$89M, despite dominating three-month flows at $58.3B. Consumer Discretionary remained in outflow on both timeframes.
Equities remain the top asset class by far. $57.6B flowed into equity ETFs in a single week. Fixed income added $18.1B. Commodities attracted $7.0B this week with a strong imbalance of 83.3. That is a reversal: commodities bled $24.9B over three months. Currency ETFs also attracted $2.4B this week, flipping from a $2.8B outflow over three months.
Active management is the standout strategy trend. Active ETFs pulled in $12.5B last week. Their flow imbalance hit 76.0 — above the Vanilla (passive) imbalance of 66.8. Over three months, Active drew $221.5B versus $368.7B for Vanilla. That gap is narrowing fast. Dividend strategies posted $704M this week, consistent with $17.2B over three months. Price-weighted strategies saw $2.8B in outflows this week, reversing a positive three-month trend of $11.6B.
Overall, the tone is decisively risk-on. Equities dominate, active management is gaining ground on passive, and short-term buyers are rotating back into energy and commodities after months of outflows.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
