Japan was the standout destination for ETF money this week. It pulled in $16B net — the largest single-geography flow globally. Flow imbalance hit 86.7, signalling strong and one-sided buying pressure. Over three months, Japan has accumulated $75.6B in net inflows. The trend is not new, but the weekly intensity is accelerating.
The US attracted $6B net this week. That sounds large, but gross flows of $79B in and $73B out reveal a heavily contested market. Flow imbalance sat at just 52 — barely above neutral. Over three months, the US leads all geographies at $364B net. The gap between the weekly pace and the three-month average suggests some recent deceleration.
China drew $4.7B net this week with a flow imbalance of 65.3. Over three months, China has taken in $35.4B. The buying pressure remains consistent.
South Korea flipped negative this week, shedding $1.4B net. Flow imbalance fell to 37.3 — a clear selling signal. That is a sharp reversal. Over three months, South Korea actually shows $38B in net inflows, ranking fourth globally. This week's outflow is worth watching.
Hong Kong tells a similar story. It posted $635M net inflows this week, but over three months it is down $12.5B. The short-term bounce has not repaired the broader damage.
The UK saw $226M leave this week. Flow imbalance was a weak 19.4. Germany and France also bled small amounts.
Technology ETFs bled $4.8B net this week. Flow imbalance dropped to 38.8 — money is clearly leaving. This is a notable reversal. Over three months, Tech leads all sectors with $51.7B in net inflows. Sellers are now outpacing buyers on a weekly basis.
Financials lost $1.9B this week. Health Care shed $1B. Communication Services dropped $648M.
On the other side, Materials posted $475M in net inflows this week. It was the only sector with meaningful positive flow. Over three months, Materials sits at $3.5B net — consistent, if modest. Utilities and Industrials were close to flat on the week.
Industrials look more interesting over three months. They pulled $5.4B net over the quarter, alongside Real Estate at $5B and Health Care at $5.5B. Those sectors are quietly absorbing institutional money.
Equities took in $38.6B net this week. Fixed Income added $11.3B. Commodities were the surprise — they pulled in $8B net with a flow imbalance of 89.6. That is near-one-sided buying. Over three months, commodities are actually down $16.9B net. This week's commodity surge is a clean trend reversal and the most striking shift in the data.
Currency ETFs attracted $2.7B this week, also flipping positive after $2.2B in outflows over three months.
On strategy, active ETFs took in $11.2B this week — flow imbalance of 76.2. Over three months, active funds have absorbed $221.9B. That structural shift toward active management continues. Vanilla passive flows remain dominant in absolute terms at $17.5B weekly and $350.6B over three months, but active is gaining share fast. Value strategies saw $721M leave this week, while growth attracted $1.3B.
The overall tone is cautiously risk-on. Equities and bonds are both receiving money. Commodities are surging short-term. Tech profit-taking is real, but the rest of the equity market is absorbing those 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.
