US equity ETFs pulled in $420B over the past week. That single figure dwarfs every other geography combined. The flow imbalance hit 91.5 — a level that signals near-unanimous buying pressure. Over three months, US flows reached $561B with a far more balanced imbalance of 62.8. That gap tells a clear story: investors rushed back into US equities this week at a pace well above the recent trend.
Japan was the only other geography to post meaningful weekly inflows at $29B. Its flow imbalance of 87.2 shows strong conviction. Over three months, Japan has attracted $279B — making it the most consistent non-US destination.
China was the week's biggest loser. Outflows hit $6.7B, with a flow imbalance of just 30.7. The three-month picture is worse: $53.6B in net outflows. Selling pressure in China ETFs has been persistent and deep.
Developed Europe shed $2.4B this week, with a weak imbalance score of 21.3. That reverses a mild positive three-month trend of $7.7B in inflows. Emerging Markets held steady with $1.3B in weekly inflows — a small but consistent positive over both timeframes.
Technology dominated all other sectors this week. Net inflows reached $107B, with a flow imbalance of 92.4. That is roughly 110 times larger than the next sector.
Over three months, Tech still leads at $100B net, but the imbalance was a more modest 64.1. The acceleration this week is striking.
Industrials took second place with $967M in weekly inflows. Over three months, it attracted $18.5B — a steady performer.
Energy reversed sharply. Over three months it pulled in $14.4B. This week it was nearly flat, down $40M. Financials bled $718M this week and $11.3B over three months — the weakest major sector.
Health Care has also been under pressure. Outflows of $5B over three months continued with near-zero net flow this week.
Equities were the only asset class with truly dominant flows. Weekly net inflows reached $460B. Fixed income added $9.9B — solid but a fraction of the equity move.
Commodities tell a notable divergence story. Over three months they saw $81.8B in outflows, a flow imbalance of just 38.4. This week, however, they pulled in $1.3B. A very early turn, but worth watching.
On strategy, Growth ETFs matched Vanilla in weekly flows at $220B net, with a flow imbalance of 99.2 — essentially all buying. Over three months, Growth logged $231B. Active strategies continued their steady climb: $14.6B this week and $133B over three months.
ESG remained out of favour. Outflows ran at $1.2B this week and $14.9B over three months.
Overall, the tone is firmly risk-on. Investors are rotating into US equities, growth, and tech at a pace that accelerated sharply in the most recent week.
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.
