US equities pulled in $12.1B last week. That is the single biggest geographic inflow. Yet beneath the headline, a sharp rotation is underway. Technology — the 3-month leader — is now the week's biggest loser.
The US attracted $12.1B in net ETF inflows over the past week. Flow imbalance sat at 56.1, indicating broadly positive but not extreme buying pressure. Over three months, the US dominates with $674B net — dwarfing every other region.
Global funds added $6.1B this week, with a flow imbalance of 68.6. That signals genuine buying conviction. Developed Markets Ex-US pulled in $2.3B, with an imbalance of 89.9 — nearly all buying, near zero selling.
China is the standout loser. It shed $7.1B last week alone. Flow imbalance hit just 24.7 — deep in selling territory. Over three months, China is down $42.2B. That is a sustained and accelerating outflow. South Korea also bled $3.1B this week, though its 3-month number is a positive $10.3B — a clear short-term reversal.
Japan continued attracting money. It took in $1.6B this week and $292B over three months. That 3-month figure is second only to the US globally.
This is the week's sharpest divergence. Information Technology lost $2.1B in net flows over the past seven days. Flow imbalance dropped to 46 — more selling than buying. Over three months, Tech was the top sector with $90.7B in net inflows. The reversal is notable.
Energy flipped the script. It gained $1.6B this week, with an imbalance of 75.2. Over three months, Energy is up $12.6B, making it a consistent destination for capital. Real Estate added $359M this week, continuing a quiet but steady trend.
Consumer Discretionary, Financials, and Health Care all saw net outflows this week. Financials lost $573M. Health Care shed $514M. Both had been net negative over three months as well, suggesting persistent underweighting.
Equities dominated asset class flows. They attracted $18.9B this week and $1.16T over three months. Fixed Income added $9.7B last week and $183B over three months — solid and consistent.
The big shift is in commodities. They posted a $1.2B inflow this week. Over three months, they are down $78B. That is a dramatic reversal — either a short-term bounce or an early turning point worth watching.
Active strategies led all approaches this week with $10.2B in net inflows and an imbalance of 79.1. Over three months, Growth strategies led with $326B — a strong trend. ESG was the only major strategy with sustained three-month outflows, down $14.1B.
Overall, the tone is cautiously risk-on. Investors are buying equities and bonds together, rotating out of Tech and China, and selectively adding to Energy and active strategies.
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.
