US equity ETFs pulled in $135B in the past week alone. That dwarfs every other geography combined. The flow imbalance reading of 81.4 confirms strong buying pressure, not just a rebalancing tick. Over three months, US-focused funds have absorbed $670B. The trend is not just intact — it accelerated this week.
Japan is the clear second. It drew $20.6B in the past week, with a 90.8 flow imbalance — almost pure buying. Over three months, Japan ETFs took in $307B. That sustained inflow makes it one of the strongest international conviction plays in the market right now.
China is the counterweight. It shed $7.2B this week. Its flow imbalance sits at just 27.6 — deep into selling territory. The three-month picture shows $36.5B in net outflows. Investors are not rotating back. They are pulling further away.
Europe is sending mixed signals. Developed Europe posted a small net outflow of $178M this week. Yet over three months, it attracted $4.5B. The short-term reversal may reflect caution. Switzerland showed outflows both weekly and over the quarter, unlike its three-month pattern. Germany bled money on both time frames — $202M this week, $3.7B over three months.
India is a notable trend shift. It gained $146M this week. Over three months, however, it is down $971M. This week marks a tentative reversal worth watching.
Technology led sector inflows at $3.3B for the week. That aligns with the three-month picture, where it tops all sectors at $103B. Industrials came second this week at $716M. Over three months, Industrials attracted $17B — a consistent trend.
Health Care is the week's biggest sector loser at -$888M outflow. It has also been negative over three months at -$5.7B. Financials shed $566M this week and $12.1B over the quarter. Both sectors face sustained selling.
Energy drew modest inflows this week at $49M. Over three months it attracted $11.6B. The weekly figure suggests that three-month momentum may be fading.
Equities dominated across both time frames. They pulled in $157B this week and $1.2T over three months. Fixed income was second at $9.5B for the week and $193B over the quarter. Both asset classes are attracting money together — a relatively unusual risk-on and defensive mix.
Commodities flipped negative. They posted a small outflow of $113M this week. Over three months, commodities bled $80.5B. The selling pressure reading of 38.3 reflects clear exit momentum.
Growth strategies were the standout this week with $96.4B in inflows and a 99.4 flow imbalance — near-total buying dominance. Active management pulled in $9.4B. ESG remained modestly positive for the week at $557M, but over three months it is down $14B. ESG is losing structural support.
The overall tone is firmly risk-on. Equities are winning. Growth is winning. China and commodities are the clearest exits.
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.
