The biggest story of the week is simple: money is flowing into the United States. US-focused ETFs pulled in a net $145B in the past week alone. That's a flow imbalance of 85.8 — deep buying territory. Over three months, the same trend holds firm, with $669B in cumulative net inflows.
The US is pulling ahead on both timeframes. Japan is the second-strongest region this week, drawing $8.8B in net inflows. India stands out with a flow imbalance of 94.5 — near-total buying pressure — though the absolute flows remain small at $139M.
The biggest reversal of the week is Emerging Markets. Over three months, EM posted a modest outflow of $18.1B. This week, that accelerated sharply. EM saw $38.9B in net outflows with a flow imbalance of just 1.3 — meaning almost all of the gross activity was selling. China was responsible for much of that, bleeding $6.1B this week on top of $36.5B over three months.
Canada, Australia, South Korea, and Developed Markets Ex-North America all recorded small but consistent inflows on both timeframes — quiet but steady diversification bets.
Information Technology leads all sectors this week with $2.5B in net inflows. Over three months, tech has attracted $97.9B. It remains the dominant sector bet.
Industrials are second this week at $875M net inflow, with a healthy imbalance of 70.7. That pattern holds over three months too, where Industrials gathered $16.8B. Utilities and Energy are also seeing consistent buying on both timeframes.
The sellers are concentrated in Health Care and Materials. Health Care lost $525M this week and $5.6B over three months. Materials dropped $606M this week against a $5.9B three-month outflow. Both show imbalance scores in the 36-43 range — sellers clearly in control. Financials tell a different story: neutral this week ($135M inflow), but deeply negative over three months ($11.3B outflow), suggesting some stabilisation is beginning.
Equities dominate the asset class picture. $115B flowed into equity ETFs this week. Fixed income added another $10.7B. Commodities lost $791M this week — a sharp reversal from their broader three-month outflow of $78.6B, where selling pressure (imbalance: 38) has been consistent.
The strategy data tells the clearest directional story. Growth ETFs recorded $94.7B in net inflows this week — a flow imbalance of 98.4. That is as close to one-sided buying as the data shows. Over three months, Growth funds have attracted $327B in total. Active strategies added $2.2B this week and $127B over three months.
ESG presents the starkest trend shift. Over three months, ESG funds lost $12.9B. This week they turned slightly positive at $255M — a tentative reversal worth watching.
The overall tone is firmly risk-on. Money is moving into equities, growth strategies, and the US market, while commodities, emerging markets, and defensive sectors continue to see consistent outflows.
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.
