US equities remain the dominant destination for ETF flows. $44.9B landed in US-focused funds over the past week alone. Over three months, that number swells to $252B. The direction is clear — domestic US exposure is where institutional money wants to be.
But the more telling story this week is the scale of fixed income buying alongside equities. Both are moving at the same time.
The US pulled in $44.9B last week, far ahead of every other region. Global multi-region funds added $4.8B. Developed Markets Ex-US gathered $3.1B, with a flow imbalance of 94 — almost pure buying.
Taiwan attracted $1.5B with an 87 imbalance score. South Korea, by contrast, shed $1.7B, flipping from its three-month trend. Over 3m, Korea had pulled in $35.4B — this week's outflow marks a sharp reversal.
India also registered selling pressure. Flow imbalance hit just 2.8 last week, with $250M net leaving. Germany continued to bleed, posting outflows both weekly and over three months.
Industrials topped sector flows this week with $1.7B net inflow and a 71.7 imbalance score. That flips the 3m picture, where Tech dominated with $18.2B. Industrials drew just $2.2B over three months by comparison.
Consumer Discretionary added $1B this week, with an 85 imbalance — strong buying pressure. Real Estate collected $867M, pointing to growing rate-cut confidence.
Energy and Materials both bled red this week. Energy lost $402M. Materials shed $259M. Over three months, Energy was the biggest sector loser at -$4.4B. Communication Services also shifted — a three-month outflow of $765M, while this week saw modest inflow of $403M.
Fixed income gathered $31.5B last week. Over three months, bonds drew $261B — nearly half the pace of equities. The imbalance score for fixed income was 74.6 this week, well into buying territory.
Commodities added $4B this week, with an 81.9 imbalance. Over three months, commodities pulled in $18.3B. Investor appetite for hard assets is building steadily.
On strategy, Momentum funds stand out. They drew $6.5B this week at a near-maximum imbalance of 97.6. Fundamental and Multi-factor strategies also saw strong inflows. Growth funds attracted $6.2B this week. Over three months, Active strategies led with $130.4B — the largest non-vanilla category by far.
Price-weighted strategies remain an outlier. They posted $2.2B in outflows this week and were negative over three months too.
The overall tone is cautiously risk-on. Equities and bonds are both attracting capital, suggesting a broad deployment of cash rather than defensive repositioning.
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.
