Japan posted the sharpest week-on-week momentum of any region. ETFs focused on Japanese equities pulled in $31.6B in the past week alone. That compares to $314.6B over three months — meaning roughly 10% of the quarter's total came in just the last seven days. Buying pressure hit 85.1 out of 100, the highest flow imbalance of any major region.
The US remained the single biggest destination. American equity ETFs attracted $43B last week. Over three months the total stands at $689B. Flow imbalance held steady at 69 — solid, but not as stretched as Japan.
China told the opposite story. It shed $12.4B in the past week. The three-month net outflow sits at $47.1B. Buying pressure fell to just 25.7 out of 100, firmly in selling territory. South Korea also bled $2.2B last week, reversing what had been a positive three-month trend of $9B in.
Outside the two headline stories, the picture is broadly constructive. Global Ex-US ETFs added $2.6B last week with a near-perfect flow imbalance of 98.2. The UK drew $2.2B, India attracted $298M. Germany flipped negative — down $4B over three months, but small gains last week suggest stabilisation.
Technology led all sectors with $5.6B of net inflows last week. Over three months, Tech has pulled in $94.6B — the biggest sector total by far. But the gap to second place is narrowing. Industrials, a $14.1B winner over three months, turned negative last week at -$245M. That reversal is worth watching.
Energy flipped in the other direction. It was an outflow story last week (-$742M) but a strong inflow story over three months (+$11.2B). Short-term profit-taking is the likely read.
Materials gained $840M last week. Over three months it lost $6.1B. That divergence is notable. Investors may be rotating back in after a rough quarter. Health Care and Financials both bled money over three months — $6.6B and $10.5B respectively — and remained soft last week.
Real Estate stood out as a quiet winner. It added $686M last week and $2.5B over three months, with a solid flow imbalance of 80.4.
Equities dominated all asset classes. ETFs tracking stocks attracted $68.4B last week. Fixed Income added a further $14.3B, with buying pressure at 69. Commodities drew $3.1B last week — a sharp reversal from a $72B outflow over three months. That is the biggest trend shift in the data.
On strategy, active management continued to outperform. Active ETFs drew $11.6B last week with an imbalance of 82.4. Growth-oriented strategies added $3.7B. Fundamental strategies saw $2.2B leave — a trend that has persisted over three months. ESG remained a consistent outflow story, shedding money over both timeframes.
The overall tone is risk-on. Money is flowing into equities, growth strategies, and specific regions — with China the clearest exception.
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.
