Fixed Income led all asset classes last week. ETFs tracking bonds pulled in a net $33.3B. Equities followed with $23.4B. The split signals a hedged market mood — investors are adding risk while keeping defensive cover.
Over three months, the picture reverses in scale. Equities dominate with $594.5B in net flows. Fixed Income added $250.6B over the same stretch. Both directions remain firmly in the green, reflecting broadly risk-on conditions over the quarter.
US-focused ETFs dominated this week. They pulled in a net $33.4B, with buying pressure at a 61.3 flow imbalance score. Japan ranked second at $4.3B net, followed closely by Global and China at $3.5B and $3.2B respectively.
The week's biggest loser was South Korea. It shed $3.2B in net outflows, with a flow imbalance of just 27.3 — well into selling territory. Israel also bled, losing $142M.
Over three months, South Korea tells a very different story. It attracted $36.9B net, ranking fifth globally. That weekly reversal is sharp and worth watching. Brazil is another flip: $373M in 1w but a $1.1B outflow over 3m, suggesting recent buying is fighting a longer downtrend.
Developed Markets Ex-North America had nearly zero outflows this week. Its flow imbalance hit 97.0, close to pure buying pressure. That's a notable divergence from the mixed broader picture.
Financials led sector flows this week with $580M net. Energy added $289M. Utilities drew $132M. All three show defensive or value-oriented positioning.
Tech told the opposite story. Information Technology posted a $412M net outflow this week. Gross flows were huge — $5B in, $5.4B out — leaving a net negative. Consumer Discretionary also shed $266M.
Over three months, Tech was the runaway leader with $37.8B net. That makes this week's reversal a genuine trend break. Health Care, Real Estate, and Financials all showed solid 3m inflows. Energy flipped — a $3.8B outflow over 3m versus this week's inflow, suggesting a fresh rotation back into the sector.
Commodities added $2.9B this week, with a 73.0 flow imbalance — strong buying pressure. Gold and broader commodity ETFs are attracting fresh capital as a hedge.
On strategy, Growth and Value were both strong this week. Growth pulled in $5.8B net, Value $5.1B. Both had flow imbalance scores above 90, meaning buying was near one-sided. That breadth is unusual. Active strategies, by contrast, saw a small $106M outflow — notable given their $149B 3m haul.
Dividend strategies continued their steady bid. $1.2B net this week, $13.4B over three months. Low Volatility and Momentum also attracted flows, suggesting investors are layering quality and safety filters on top of directional bets.
The overall tone is cautiously risk-on. Bonds and equities are both receiving capital, commodities are climbing, and the week's Tech outflow may be the first sign of rotation rather than retreat.
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.
