Japan's ETFs pulled in a net $28.4B this week — the single largest geographic inflow globally. That beat the U.S., which drew $24.6B. Both markets show strong buying pressure. Japan's flow imbalance sits at 88.4 out of 100. The U.S. is at 63.7. Over three months, the U.S. leads with $674.6B in net inflows. Japan follows with $316.5B.
China is the standout loser. It bled $12.4B this week. That follows a $48.2B net outflow over three months. Flow imbalance for China is just 22.2 — deep in selling territory. South Korea also shed $2.9B this week, reversing a positive $8.5B three-month trend. That is a notable shift.
The U.K. and Global Ex-U.S. funds both attracted solid weekly inflows of $2.2B and $2.6B respectively. Both show imbalance scores above 88. International diversification away from China is clearly the dominant geographic theme.
Tech stayed on top. Information Technology pulled in $2.1B this week. Over three months it leads all sectors by a wide margin at $89.9B. But the weekly flow imbalance is only 54.7 — barely above neutral. The three-month dominance may be fading.
Materials flipped positive this week with $545M in net inflows. Over three months it was deeply negative at -$6.1B. That is a sharp reversal. Real Estate added $408M this week after a modest $2.5B three-month gain. Both suggest defensive or yield-seeking rotation.
Financials and Consumer Discretionary are taking hits. Financials lost $752M this week and $10.7B over three months. Health Care dropped $306M this week following a $6.7B three-month bleed. Utilities also saw $180M exit this week despite positive three-month flows — a small but notable reversal.
Equities dominate. They drew $55B in net inflows this week. Fixed Income added $12.7B. Both show flow imbalance above 63. Over three months equities total $1.18T in net inflows. Fixed income adds $185.5B.
Commodities tell a very different story. This week saw $2.6B flow in. But over three months the figure is -$75.7B — one of the sharpest reversals in the data. Short-term buyers may be testing a beaten-down asset class.
Active strategies are gaining ground fast. They pulled in $9.4B this week with an imbalance score of 78.4. Over three months they attracted $126B. Growth strategies dominate the three-month view at $326.3B — far ahead of any other strategy. ESG continues to lose money over three months at -$14.2B, though this week shows a modest $449M inflow. Momentum funds are near-unanimous buyers, with a weekly imbalance of 97.7.
The overall tone is decisively risk-on. Equities, active strategies, and growth funds are drawing the most money. Capital is rotating away from China and into Japan, the U.K., and ex-U.S. developed markets.
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.
