US-listed ETFs pulled in a net $17.3B in the past week. That is the biggest single-geography inflow by a wide margin. Japan followed with $7.1B. Global diversified funds added $6.0B. The breadth of demand signals a broad risk-on mood heading into September.
The one notable reversal: China. Over three months, China ETFs attracted $35.9B — a strong trend. This week, that trend snapped. China posted a $1.8B net outflow, with a flow imbalance of just 39.9, firmly in selling territory. That is a meaningful short-term shift worth watching. Taiwan also slipped into the red, losing $379M this week after pulling in $24.2B over three months. Both suggest profit-taking or caution on Asia ex-Japan.
The US dominates on both timeframes. Its $17.3B weekly inflow sits atop a $329.5B three-month trend. Japan's $7.1B weekly gain is proportionally large relative to its AUM, and its flow imbalance of 66.5 shows consistent buying pressure. Developed Markets Ex-US and Emerging Markets also drew steady inflows this week. Brazil and the UK were the clearest losers — both posted outflows with imbalance readings below 20.
Information Technology attracted $3.8B this week. That keeps Tech at the top of sector flows on both the 1w and 3m view, where it racked up $53.2B. Health Care was the second-best sector this week at $1.1B in, with a flow imbalance of 74.1 — strong buying pressure. Real Estate also gained $232M, continuing its quiet but steady 3m trend of $4.9B in.
Financials reversed sharply. Over three months, Financials collected $3.2B. This week, the sector bled $1.2B out, with a flow imbalance of just 34.8. Industrials and Energy also saw outflows this week despite positive 3m figures. That trio — Financials, Industrials, Energy — looks like the rotation out of cyclicals and into defensives and growth.
Equities absorbed $37.0B this week. Fixed Income added $10.2B. Both are running hot relative to their 3m paces, suggesting broad participation. Commodities collected $4.1B this week — a sharp contrast to their $7.7B net outflow over three months. That weekly reversal in commodities is one of the clearest trend shifts in the data.
On strategy, Vanilla passive funds led with $26.1B in. Active ETFs took $5.8B, keeping pace with their strong 3m trajectory of $206.6B. Price-weighted strategies shed $5.3B this week — the only major strategy in deep outflow territory, with a flow imbalance of 13.3. ESG, Value, and Fundamental strategies all drew solid inflows.
Overall, the tone is risk-on. Money is moving into equities, Tech, and Japan. The caution flags are China's weekly reversal and the rotation out of cyclical sectors.
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.
