US-focused ETFs pulled in a net $31.1B this week. That is the dominant story. Meanwhile, Industrials suffered the steepest sector outflow — $2.6B — even as it attracted modest buying over the past three months.
The US remained the top destination by a wide margin. Net inflows hit $31.1B this week, versus $149.8B over three months. Flow imbalance sits at 58.9 — solidly positive but not extreme.
Global Ex-US funds grabbed $8.6B this week. That is a flow imbalance of 99.8 — nearly all buying, almost no selling. Over three months this group accumulated $28.9B, suggesting sustained interest in non-US developed markets.
Emerging Markets drew $2.8B this week with a flow imbalance of 88.2. That compares to $21.9B over three months — a consistently strong trend.
China is the notable reversal. Over three months, it posted $47.9B in net inflows — the third-largest geography. This week it flipped to a $821M outflow. Flow imbalance dropped to 46.4, straddling neutral. Sellers took over.
India also stayed in the red. It bled $168M this week and $633M over three months. Flow imbalance this week was just 3.9 — almost pure outflow pressure.
South Korea showed a similar pattern. Down $625M this week, despite $13.5B in net inflows over three months. Some Asia rotation appears to be reversing near-term.
Industrials was the biggest weekly loser by sector. Outflows hit $2.6B, with a flow imbalance of just 15.8. That is a sharp reversal. Over three months, Industrials actually attracted $735M in net inflows — nearly balanced. This week's move stands out.
Health Care led all sector inflows at $1.1B this week. Over three months it added $5.1B. Consistent buying pressure on both timeframes.
Financials drew $1.05B this week. The three-month picture is flat at -$140M — nearly zero. The weekly surge looks like a fresh rotation into banks and financial services.
Real Estate pulled in $661M this week and $3B over three months. Rate-sensitive sectors are seeing steady demand.
Energy gained $441M this week, but over three months it is down $2B. The week-on-week pick-up does not yet override the quarterly trend.
Information Technology attracted just $265M this week despite $5.9B in gross inflows. Heavy two-way activity reflects uncertainty. Over three months, Tech leads all sectors with $20.2B net.
Equities remain the preferred asset class. Weekly net inflows hit $51B. Fixed Income added $12.2B. Commodities were the only negative class, losing $700M this week — despite attracting $24.9B over three months.
Active ETFs continue to grow. $12.9B flowed in this week with a flow imbalance of 66.5. Over three months, active strategies pulled $120.8B — nearly half the vanilla total. The shift from passive to active is an ongoing structural trend.
Momentum strategies were hit hard this week. Outflows reached $5B, with a flow imbalance of just 3.4 — almost pure selling. Value also bled $1.4B. Growth and price-weighted strategies posted smaller but notable outflows too.
The overall tone is cautiously risk-on. Equities and bonds both attracted flows. But rotation away from momentum, China, and Industrials signals that investors are repositioning — not simply adding exposure across the board.
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.