Equities absorbed $28.5B in net ETF inflows last week. That is the largest single-asset class draw in the 1-week window. It confirms risk appetite remains firmly on. Bonds added another $16.2B. Every major asset class posted positive net flows — a broad-based surge rarely seen outside post-correction recoveries.
The US pulled in $15.0B last week. Japan followed at $6.2B, with a strong flow imbalance score of 77.4, showing concentrated buying pressure rather than just gross volume. Global funds attracted $7.2B more.
China is the clearest outlier. It bled $5.9B in the week alone. Over three months, outflows total $43.3B — making it the biggest geographic loser across both timeframes. South Korea also shed $2.8B in the week, a sharp reversal from its $11.4B three-month net inflow. That is a notable trend break. Money that flowed into Korea over the quarter appears to be reversing fast.
Developed Markets ex-US posted a near-perfect flow imbalance of 90.0, meaning almost all activity was buying. Global Ex-US funds hit 97.1 — essentially one-sided inflows. Institutional appetite for international diversification outside China and Korea is real and growing.
Energy was the top sector last week with $2.5B in net inflows and a flow imbalance of 78.5. This is a short-term surge — over three months, Energy attracted $13.1B, so last week continued an established trend.
Information Technology flipped sharply. It was the dominant three-month sector leader at $90.9B net inflows. Last week it posted a $1.4B . That is a clear reversal signal. Gross flows were still large ($12.2B in, $13.7B out), but sellers slightly won. Real Estate gained $518M on the week with a healthy 72.4 imbalance. Health Care and Consumer Discretionary both shed meaningful flows.
Industrials went effectively flat on the week at just $6.5M net — after pulling $15.5B over three months. That momentum has stalled.
Active ETFs claimed $16.9B in net inflows last week. That is the top strategy by a wide margin. Flow imbalance hit 83.4 — heavily one-sided buying. Over three months, Active gathered $132.7B, but its 1-week pace is running well ahead of that quarterly rate. Momentum strategies added $1.2B with a 97.0 imbalance score — the highest of any strategy, indicating extremely clean one-directional buying.
ESG was the lone strategy with net outflows at -$84.9M, roughly flat but directionally negative. Over three months, ESG posted a $13.0B outflow — a prolonged and consistent exit.
Commodities flipped. Last week they attracted $1.8B. Over three months, they bled $77.1B. That three-month figure is the starkest reversal in the entire dataset — a potential capitulation followed by early-stage re-entry.
Overall, the tone is risk-on. Equities dominate inflows. Active strategies accelerate. The key watch points: whether the Tech reversal extends, whether China outflows deepen, and whether the commodity recovery holds.
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.
