China Leads Weekly ETF Inflows as Tech Tops Sectors

China claimed the biggest weekly ETF inflow of any geography. $22.5B flowed in over the past week, with a flow imbalance of 82.7. That is a sharp contrast to the three-month picture, where China attracted $38.5B total but with a far more contested 58.4 imbalance. The weekly surge points to a fresh burst of buying conviction, not just a continuation of the trend.

The U.S. was close behind. $20.4B came in on the week, with gross inflows of $55.6B offset by $35.3B of outflows. Over three months, the U.S. leads all geographies with $297.5B in net flows. That structural dominance holds, but the weekly imbalance of 61.2 is softer than China's, suggesting some two-way churn beneath the headline number.

Japan tells a different story. It pulled in $6.7B this week with an imbalance of 89.4, meaning almost all the gross flow went one way. Over three months, however, Japan flipped to a $8.7B net outflow. That is the sharpest reversal in the dataset: from sustained selling to intense near-term buying. Whether this is a seasonal rebound or a tactical positioning shift, the weekly data suggests fresh demand.

Emerging markets ran the other way this week. The broad EM category posted a $1.9B outflow with an imbalance of 25.4, firmly in selling territory. Over three months, EM had attracted $12.8B. The reversal is notable. India saw outflows both on the week ($31M net out) and over three months ($1.1B net out), even as TRAI data shows India's wireless broadband subscriber base hit 1.059 billion in September 2026, rising for six consecutive months. The demand story in the real economy has not translated into ETF buying.

Sector Rotation

Information Technology led all sectors this week with $6.3B of net inflows. Over three months, IT also tops the table at $19.5B, though its 53.8 imbalance over that period shows the flow has been contested. Industrials picked up $1.4B this week after losing $559M over three months. That reversal is worth watching: three months of net selling followed by a week of clear buying.

Financials flipped the other direction. The sector lost $1.0B this week after shedding $9.4B over three months. Selling pressure remains consistent. Utilities also saw $829M of outflows this week, though over three months the sector was a net receiver of $1.9B. Short-term sellers appear to be unwinding a position built earlier in the quarter.

Health Care was near flat this week but received $2.7B over three months. Energy lost $90M this week but gained $2.2B over three months, suggesting the recent week may be a pause rather than a reversal.

Asset Class and Strategy

Equities dominated both time frames. $61.7B flowed into equity ETFs this week alone, against $552.5B over three months. Fixed income was the second-largest recipient with $21.8B this week and $299.7B over three months. Commodities bucked both trends: $2.3B left commodity ETFs this week, though the three-month figure shows $32.8B of net inflows. The weekly selling may reflect profit-taking after a strong quarter.

On strategy, vanilla passive funds took in $39.2B this week, still dominant but far ahead of the next runner. Growth strategies added $4.8B with a strong 86.9 imbalance, the cleanest buying signal among strategy types. Active management received $2.0B this week but has gathered $159.8B over three months, its 71.3 imbalance the highest among major strategies. Momentum funds lost $148M this week and $3.5B over three months, a consistent underperformer.

The overall tone is risk-on: equities and fixed income both attracting money, China and Japan surging in the near term, and growth strategies outpacing value on a weekly basis.