Japan is the standout story of the week. ETFs tracking Japanese equities pulled in $8.6B in net flows over the past seven days. That puts Japan second only to the US in geography flows, with a flow imbalance of 81.7 — well above the 65 threshold that signals strong buying pressure.
The US itself absorbed $14.8B in net inflows over the week. That number looks large in isolation. Over three months, however, US-focused ETFs have drawn $339B, suggesting the weekly pace is running slightly below trend.
The most striking divergence is in China. Over three months, Chinese ETFs attracted $31.9B — a solid positive trend. This week, they bled $4.6B, with a flow imbalance of just 28.8. That reversal is sharp. Selling pressure in China is concentrated and heavy right now.
Hong Kong tells the same story. Over 3m it posted an $8.0B outflow. This week it added another $3.0B in inflows — a rare bright spot in the region that cuts against the 3m trend.
Taiwan flipped negative this week, losing $940M after attracting $23.3B over three months. South Korea also reversed course, going from $42.3B over 3m to flat on the week with a 47.0 imbalance.
Developed Europe held steady. Weekly inflows of $994M align with the moderate but consistent 3m trend of $5.7B. Emerging markets broadly stayed positive, adding $1.1B on the week.
The sharpest move in sectors is Energy. It pulled in $846M this week with a flow imbalance of 72.2. Over the past three months, Energy was a net loser — down $5.0B. That is a meaningful reversal. Money is rotating back into Energy after a prolonged exit.
Financials flipped hard. Over 3m, Financials attracted $3.8B. This week, $1.2B walked out. The flow imbalance dropped to 28.4 — firmly in selling territory.
Information Technology also saw $867M in net outflows this week. Yet over 3m, it remains the biggest sector inflow story at $52B. The weekly dip looks like profit-taking on a well-bid trade rather than a structural exit.
Health Care gained $571M this week, consistent with its 3m trend of $7.8B. Consumer Discretionary added $650M on the week after a modest $924M over 3m — a relative acceleration.
Equities dominated all asset classes. $27.9B flowed into equity ETFs in the past week. Fixed income added $7.7B. Commodities took in $4.2B this week — a notable swing given that over three months, commodities were actually down $5.5B. That is the second meaningful 1w-versus-3m reversal after Energy.
On strategy, active ETFs continue to take share. $5.1B went into active strategies this week, with a flow imbalance of 69.2. Over 3m, active funds attracted $204.7B, far outpacing growth and value strategies in relative terms. Dividend ETFs drew $780M this week and $13B over 3m, a consistent defensive bid.
Price-weighted ETFs were the only notable loser this week, shedding $1.95B after a positive 3m.
Overall, the tone is cautiously risk-on. Equities lead, active management is winning flows, and the short-term reversals in China and commodities are the clearest signals of shifting sentiment at the margin.
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.
