The US retained its position as the world's biggest ETF destination. American-focused funds pulled in a net $21.7B in the past week alone, against a three-month net of $337B. The buying pressure is broad but not panicked — the flow imbalance sits at 62.6, a moderately risk-on reading.
The week's sharpest reversal belongs to China. Over three months, China ETFs attracted a net $31.3B. This week, that trend flipped hard. Outflows hit $6.4B in seven days, with a flow imbalance of just 23.6 — firmly in selling territory. That is the single most notable trend shift in the data.
Japan held up well, drawing $5.5B net in the week and $64B over three months. Flows remain balanced with an imbalance score of 63.5. Emerging Markets as a broad category posted a week imbalance of 90.8 — near-total buying pressure — despite a modest $1.4B net. That signals concentrated conviction from a small number of buyers. Taiwan flipped negative on the week (-$836M), despite its strong $23.7B three-month inflow. Brazil stayed in outflow territory across both periods.
Information Technology grabbed the top weekly sector spot with $1.1B net inflow. But the imbalance score of 54.6 is near-neutral, meaning buyers only narrowly outnumber sellers. Over three months, Tech dominated with $53.3B — a figure dwarfing every other sector.
The week's biggest losers are Financials and Industrials. Financials shed $1.0B net, with an imbalance of 35.4. Industrials lost $646M net, with a score of just 32.8. Both were positive over three months, so this is a fresh rotation away from cyclicals. Health Care bucked that trend. It gained $344M on the week and $7.3B over three months. Utilities and Consumer Staples also attracted modest inflows, hinting at some defensive positioning.
Energy is the most interesting three-month reversal. It posted a $5.4B outflow over 90 days but managed a small positive $137M this week. The bleeding may be slowing.
Equity ETFs remained the dominant destination. They pulled $33.7B net in the week and $702B over three months. Fixed Income added $11.6B in the week and $227B over three months — a solid second place with a strong imbalance score of 63.3. Commodities took in $4.0B this week, a notable bounce. Over three months, however, commodities posted a $6.9B outflow. That weekly reversal is worth watching.
Active management continued to attract serious capital. Active ETFs took in $5.2B net this week and $206B over three months, with a flow imbalance of 76.7 — one of the strongest buying signals in the strategy data. Value also attracted $1.75B this week. Price-weighted strategies, by contrast, bled $5.1B net in the week despite being mildly positive over three months.
Overall, the tone is cautiously risk-on. Money is flowing into equities and bonds simultaneously, China is seeing a sharp reversal, and defensive sectors are quietly picking up bids.
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.
