US equity ETFs bled $12.1B in the past week. That is the single biggest outflow story in the current data. The shift is sharp and broad — but it does not signal a full risk-off retreat. Money is moving, not disappearing.
Japan pulled in $8.0B over the past week. Flow imbalance hit 69.8, a clear buyer's market. Over three months, Japan has accumulated $74.4B in net inflows, cementing its position as the top international destination for institutional capital.
Developed Markets Ex-US and Emerging Markets both drew steady inflows this week, at $1.8B and $1.7B respectively. Both carry flow imbalances above 89 — nearly all one-directional buying pressure.
The US is the biggest reversal story. Over three months, US-focused ETFs attracted $342.2B. This week, they shed $12.1B. That is a meaningful short-term turn against a dominant trend. South Korea also flipped — down $458M this week after pulling in $40.2B over three months. Taiwan similarly reversed, shedding $272M after gaining $24.2B over the quarter.
The UK sits in persistent outflow territory. It lost $239M this week and is down $145M over three months. Flow imbalance is just 18.1 this week — overwhelmingly one-sided selling pressure.
Information Technology ETFs saw $4.2B in outflows this week. Flow imbalance dropped to 39.2 — clear selling dominance. Financials lost another $1.1B. Communication Services and Energy each shed roughly $425M.
Over three months, the picture looks very different. Tech attracted $53.2B, the top sector by a wide margin. Industrials added $4.6B over the quarter but lost $328M this week. That is a notable reversal worth watching.
Real Estate and Utilities are the week's winners. Real Estate drew $293M. Utilities added $216M. Both show strong flow imbalances above 67. Health Care is close to neutral this week but steady at $6.8B over three months.
Equity ETFs still lead in absolute terms — $9.4B in net inflows this week. But commodities are making a move. They attracted $5.3B this week after losing $9.3B over three months. That is the clearest trend reversal in the entire dataset.
Fixed income pulled in $6.2B this week and $231.3B over three months. The bond bid is not fading.
On strategy, Active funds collected $5.2B this week with a flow imbalance of 69.8. Over three months, Active has taken in $216.9B, running well ahead of its share of AUM. Price-weighted strategies lost $2.9B this week despite gaining $3.4B over the quarter.
Equal-weight and dividend-focused strategies both posted solid inflows at $2.2B and $738M respectively. Vanilla passive strategies ran a $3.0B deficit this week despite dominating the three-month picture at $356.6B.
Overall tone this week leans cautiously risk-off — US and tech equity selling, bond inflows intact, commodities returning, and Japan absorbing the bulk of international rotation.
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.
