Equity ETFs pulled in $151B last week. That dwarfs every other asset class combined. Money is moving with purpose — and the destination is clear.
The US absorbed $135B in net ETF inflows over the past week. That is 100% of the geographic flow benchmark. Flow imbalance sits at 80 — strong buying pressure, not just passive drift.
Japan was the only other region close to relevant. It added $14.4B on a flow imbalance of 87.8. Over three months, Japan has pulled in $304B, making it the second-largest geographic destination globally by a wide margin.
China is the clearest pain trade. It shed $8.6B in the past week, with a flow imbalance of just 22.7 — heavily skewed to selling. Over three months, the outflow reaches $37.3B. That trend is not reversing. Switzerland and Germany also posted weekly outflows, with Germany's three-month hole standing at $3.8B.
India offers a subtle shift. Over three months it shows a $1B net outflow. This week it flipped slightly positive at $104M. Too small to call a trend, but worth watching.
Information Technology posted a $1.5B net inflow this week. That sounds strong until you look at the gross flows: $11.6B in, $10.1B out. The flow imbalance is just 53.5 — barely positive. Over three months, Tech has pulled in $100B, the single largest sector haul by far.
The clearest weekly winner by conviction is Industrials. It added $736M with a flow imbalance of 62.8. Over three months, Industrials has accumulated $17.4B — a consistent, steady rotation into the sector.
Energy added $363M this week and $11.9B over three months. Both figures point to sustained interest.
Health Care is under pressure. It lost $794M last week. Over three months the sector is down $5.6B. Materials posted the steepest weekly outflow at $908M, reversing a mixed three-month picture.
Financials show a notable divergence. Three months: minus $11.3B. This week: plus $140M. A tentative stabilisation — but the three-month trend still dominates.
Equities took $151B in one week. Fixed income added $10.8B. Commodities posted a small net outflow of $126M this week — a sharp contrast to their $82.5B three-month outflow. Selling pressure in commodities has eased dramatically but not reversed.
Growth ETFs were the standout strategy. They pulled in $95B this week with a flow imbalance of 98.3 — almost pure buying. Over three months, Growth has accumulated $327B. That is an enormous concentration of capital into one style factor.
ESG continued its slow bleed. It is down $14.1B over three months. This week it registered near-zero net flow — neither recovering nor accelerating lower.
Active strategies added $6.5B this week and $132B over three months. The shift toward active management is one of the more durable trends in the data.
The overall tone is firmly risk-on. Equities dominate, growth leads strategy flows, and the US remains the primary destination for fresh capital.
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.
