China Leads, Tech Tops the Week's ETF Money Rush

China ETFs pulled in $22.5B net over the past week. That is the single biggest geographical flow of the week, beating even U.S.-focused funds at $20.4B. The China number is striking on its own. Over three months, China ranks third at $38.5B net, well behind the U.S. at $297.5B. That gap tells the real story: China is punching above its weight this week, relative to its three-month trend.

Geography: China Surges, India Bleeds

China's one-week flow imbalance hit 82.7 out of 100. That signals strong buying pressure with minimal offsetting outflows. Japan added $6.7B this week with an even higher imbalance score of 89.4. Both markets look like deliberate bets rather than passive drift.

The reversal to watch is India. ETFs focused on India bled $31M net over the past week with a flow imbalance of just 15.9, deep into selling territory. Over three months, India is also negative at -$1.1B. That is a consistent outflow trend, not a blip. TRAI data shows India's total broadband subscriber count reached 1.11 billion as of September 2026, rising for six straight months. The infrastructure story is strong, but ETF money is moving the other way.

Emerging Markets as a whole saw $1.9B leave in the past week (imbalance 25.4), reversing what has been a positive three-month trend of $12.8B inflows. That is the sharpest short-term reversal visible in the geographic data.

Sector: Tech Inflows, Industrials Flip

Information Technology pulled in $6.3B this week. It leads all sectors by a wide margin. Over three months, tech is also the leader at $19.5B. The momentum here is consistent.

The more interesting story is Industrials. This week it attracted $1.4B with a healthy imbalance of 72.7. Over three months, Industrials sits at -$559M net, practically flat to negative. Buyers are returning to a sector that spent the last quarter in outflow. That is a rotation signal worth watching.

Utilities reversed hard. $828M left Utilities ETFs this week (imbalance 19.9), yet over three months the sector was a solid recipient at $1.85B inflows. Financials also saw $1B exit this week, continuing a painful three-month trend of -$9.4B net, the worst sectoral outflow over that period.

Asset Class and Strategy: Bonds Hold Their Ground

Equities dominated in absolute terms: $61.7B net this week. Fixed Income added $21.8B, with a flow imbalance of 74.1. That is above the equity imbalance of 67.1. Bonds are not a defensive rotation. They are attracting genuine buying pressure alongside stocks.

Commodities lost $2.3B this week (imbalance 29.5), reversing their positive three-month trend of $32.8B. That is a sharp short-term deterioration.

On strategy, Vanilla passive funds took in $39.2B, the largest of any bucket. Growth strategies had a strong week at $4.8B net (imbalance 86.9). Over three months, Active funds are the standout: $159.8B net with a 71.3 imbalance. Active is winning the three-month strategy race by a wide margin over Vanilla at $232.5B when adjusted for scale.

The overall tone is risk-on but selective. Equities and bonds are both seeing inflows. China and Japan are getting fresh bids. Commodities and Utilities are being trimmed. The week's money is chasing growth and Asia, not defensive income.