US equities dominated ETF flows this week. American-focused funds pulled in a net $135B in the past seven days. That dwarfs every other geography combined. Japan came second with $14.4B in net inflows. Both trends hold over the three-month window — the US leads 3m flows at $677B, with Japan a distant but solid second at $304B.
The sharpest story is China. It bled $8.6B in net outflows this week. Over three months, that loss deepens to $37.3B. Flow imbalance sat at just 22.7 on the 1w window — deep selling territory. Germany also saw consistent selling pressure, down $266M this week and $3.8B over three months.
US demand remained the clear anchor. Japan benefited from strong buying pressure, with a flow imbalance of 87.8 — one of the highest readings in the table. Latin America showed minor but consistent buying interest both 1w ($116M) and 3m ($2.4B). Switzerland flipped notably: it suffered $342M in outflows this week but recorded $4.5B in net inflows over three months, suggesting recent profit-taking after a strong run.
India reversed too. Over three months it recorded a net outflow of $1B, but this week showed a small $104M net inflow — a tentative stabilisation worth watching.
Information Technology topped 1w sector inflows at $1.5B, though its flow imbalance of just 53.5 points to a near-balanced market. The real rotation story is Industrials. It pulled in $736M this week and $17.4B over three months, with a healthy imbalance of 62.8 — steady, conviction buying. Energy also held firm on both timeframes, adding $363M this week and $11.9B over three months.
The pain was in Materials and Health Care. Materials lost $908M this week after already shedding $7.7B over three months. Health Care dropped $794M this week and $5.6B over the quarter. Financials showed a sharp reversal — down $11.3B over three months, yet barely positive this week at $140M.
Equities absorbed $151B in net inflows this week alone. Fixed income added another $10.8B, showing that bonds remain in demand alongside stocks. Commodities flipped negative over three months at -$82.5B, despite near-flat flows this week. Currency ETFs saw $544M in outflows this week, reversing their positive 3m trend.
On strategy, Growth dominated with $95B in net inflows this week and a remarkable flow imbalance of 98.3 — near-total buying pressure. Active strategies continued their 3m trend, adding $6.5B this week and $132B over the quarter. ESG remained under pressure with barely flat flows this week and a $14.1B outflow over three months.
Overall, the tone is clearly risk-on. Equities and growth strategies are attracting fresh money. China and commodities are absorbing the 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.
