Active management is the standout story this week. Active ETFs pulled in $14.2B in the past seven days — a flow_imbalance score of 84.9, one of the highest readings across all categories. Over three months, active strategies attracted $131.5B. The momentum is accelerating, not fading.
The U.S. led all geographies with $15.0B net inflows last week. Japan added another $6.2B, with a flow_imbalance of 77.4 — well into buying-pressure territory. Both trends echo the three-month picture: the U.S. drew $679.8B and Japan $303.4B over that period. International money is not rotating away from these two markets.
China is the sharpest contrast. Outflows hit $5.9B last week, with a flow_imbalance of just 26.8 — firmly in selling territory. Over three months, China shed $44.0B net. The selling pressure has been consistent and deep. South Korea also bled $2.8B this week, reversing what was a positive 3m trend of $12.3B inflows — a notable one-week reversal worth watching.
Global and Developed Markets ex-U.S. ETFs both posted strong inflows this week, with flow_imbalance readings of 97.1 and 90.0 respectively. That signals near-unanimous buying pressure in broad international exposure.
Technology is the week's biggest sector loser. IT ETFs shed $2.3B in net outflows last week. The flow_imbalance dropped to 45.1 — borderline selling territory. This is a sharp reversal from the 3m trend, where tech drew $91.6B — the single largest sector inflow over that horizon. Short-term sellers are pushing back against a multi-month bull run.
Energy led sector inflows at $1.9B this week, with a 78.3 imbalance score. Industrials added $682M. Both sectors showed consistent strength over three months as well — $12.5B and $16.7B respectively. The cyclical trade appears intact.
Health Care and Consumer Discretionary both saw outflows this week — $874M and $962M respectively. Healthcare has been a consistent underperformer over three months too, losing $6.2B.
Equities took in $21.3B last week. Fixed Income added $15.5B. Both asset classes are drawing money simultaneously — a sign that investors are not simply rotating from bonds to stocks, but adding exposure across the board.
Commodities are a split story. Last week saw a modest $1.7B inflow. Over three months, commodities bled $77.2B — a major outflow. The one-week uptick may be a bounce, not a reversal.
On strategy, Growth ETFs are dominant over three months with $326.0B in inflows and a 92.8 imbalance score. This week, however, Growth slipped to a $247M outflow. Value, meanwhile, posted outflows this week too. ESG continued losing ground — down $280M this week and $12.5B over three months.
Overall, the tone is cautiously risk-on: equities and bonds both attracting capital, active management in demand, and money flowing into the U.S., Japan, and energy while China and tech face near-term 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.
