US-listed ETFs pulled in $137.9B net in the past week alone. That dwarfs every other geography combined. The flow imbalance score hit 82.8 — firmly in strong buying territory. Over three months, the picture holds: $669.2B has flowed into US-focused funds. Investors are not hedging their home bias right now.
Japan is the standout international winner. It attracted $10.2B net this week and a massive $303.4B over three months. Flow imbalance sits at 80.8 — near the top of the scale. That is a sustained, conviction-driven rotation into Japanese equities, not a one-week blip.
China is the mirror image. Outflows hit $4.2B this week, with a flow imbalance of just 25.0. Over three months, China has shed $36.7B net. The selling is persistent and accelerating. Hong Kong followed the same script, shedding $881M this week despite a modest 3-month net positive of $2.1B — a clear recent reversal.
South Korea and Taiwan also flipped. Both posted solid 3-month inflows ($15.4B and $14.8B respectively), but turned negative this week. That suggests profit-taking after a strong run, rather than a structural exit.
Germany stood out as the weakest developed market. It lost $234M this week and $3.98B over three months. Flow imbalance of just 15 signals heavy selling pressure.
Technology leads sector inflows at $1.35B this week, though its flow imbalance of 53.9 is barely positive. Over three months, Tech pulled in $95.9B — the dominant sector by a wide margin.
Energy is the week's cleaner story. It attracted $1.19B with a flow imbalance of 71.2, well into buying pressure. That is consistent with its 3-month trend of $11.5B.
Industrials added $641M this week. Over three months, Industrials gathered $16.6B — second only to Tech. Steady, persistent accumulation.
Health Care and Materials are being sold. Health Care lost $1.02B this week and $5.66B over three months. Materials shed $1.05B this week and $7.05B over three months. Both sectors show consistent outflows with no sign of reversal.
Financials posted a near-flat week ($-34M) but three months of heavy net selling at $-10.5B. Investors trimmed banks and insurers steadily through the quarter.
Equities dominate. $153B net flowed into equity ETFs this week. Flow imbalance: 79.0. Fixed income added a healthy $14.9B, showing bonds are still attracting allocators — not being abandoned. Commodities flipped sharply: +$767M this week, but $-78.1B over three months. That 3-month outflow is the biggest reversal across all asset classes.
Growth strategies pulled in $94.3B this week alone, with a flow imbalance of 98.1 — near maximum buying pressure. Over three months, Growth attracted $326.9B. Active strategies added $8.8B this week and $124.8B over three months. ESG told the opposite story: $299M net inflow this week, but $-13.1B over three months. Investors kept trimming ESG exposure through Q1, with only a marginal pause this week.
The overall tone is firmly risk-on. Money is chasing equities, Growth, and the US — while China, Healthcare, and ESG strategies absorb steady selling pressure.
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.
