US-focused ETFs pulled in $135B over the past week. That dwarfs every other geography combined. The flow imbalance of 80 signals strong and consistent buying pressure. Over three months, the US has attracted $677B — the trend is intact and accelerating.
Japan is the second-largest geography winner. It drew $14B in the past week, with a flow imbalance of 88. Over three months, it has gathered $304B. Institutional appetite for Japanese equities is broad and sustained.
China is the sharpest reversal story. It bled $8.6B last week. Over three months it is down $37B. The flow imbalance of just 23 confirms sellers are dominant. Switzerland and Germany also posted outflows on both timeframes, but at a fraction of China's scale.
Emerging markets outside China are holding up. Broad EM ETFs took in $531M last week, extending a $22B three-month trend. Latin America showed near-total buying pressure — a flow imbalance of 93 — on both short and long timeframes.
Information Technology posted the biggest 1-week sector net inflow at $1.5B. That looks small against its $100B haul over three months. Both periods point the same direction. Industrials added $736M last week and $17B over three months — consistent and broad-based buying.
Energy collected $363M last week and $11.9B over three months. The trend is steady. Health Care is the week's biggest sector loser at -$794M. It has also shed $5.6B over three months. That is a clean and persistent exit.
Materials posted -$908M last week, reversing a weak three-month trend of -$7.7B. Financials are the biggest three-month sector loser at -$11.3B, though last week's flow turned mildly positive at $140M. Watch that one for signs of recovery.
Equity ETFs dominate at every horizon. They absorbed $151B last week and $1.2 trillion over three months. Flow imbalance sits at 74 — clearly risk-on. Fixed income added $10.8B last week and $195B over three months. Bonds are attracting steady flows, but equities are the primary destination.
Commodities are a clear divergence. They lost $126M last week and $82B over three months. The flow imbalance of just 38 over three months confirms sustained selling. Investors are stepping away from the asset class in size.
On strategy, Growth ETFs stand out. They took in $95B last week alone, with a flow imbalance of 98. Over three months the total is $327B. Active strategies added $6.5B last week and $132B over three months. ESG, by contrast, is a three-month loser at -$14B, with only flat flows last week.
The overall tone is firmly risk-on. Money is moving into US equities, growth strategies, and Japan — while China, commodities, and healthcare see persistent 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.
