US equities are the clearest story this week. ETFs tracking US markets pulled in a net $39.1B over the past seven days. That is the largest single geography flow by far. The flow imbalance sits at 68.7 — firmly in buying pressure territory.
Japan was the only other geography to post a notable weekly gain. It attracted $11.6B net, continuing a three-month trend that has brought in $294.6B cumulatively. The yen-hedged trade remains active, and demand shows no sign of slowing.
China is the sharpest reversal to watch. The country bled $9.9B in outflows this week, with a weak flow imbalance of just 28.1. Over three months, China has shed $47.8B net. That is a sustained and accelerating exodus. Investors are rotating away from Chinese exposure consistently.
The UK attracted $1.9B this week — modest, but clean. Developed Markets Ex-US and Global Ex-US buckets both posted near-perfect flow imbalances above 92, meaning almost all gross flows were inflows with negligible selling. India pulled in $260M this week. Over three months, though, India flipped negative at -$1.3B, a notable trend shift from what had been a favored emerging market destination.
Information Technology dominated sector flows. It brought in $7.2B net this week. Over three months, that figure stands at $96.5B — the biggest sectoral draw by a wide margin.
The clearest rotation story is in Industrials and Energy. Both posted outflows this week — Industrials at -$833M and Energy at -$820M. But over three months, both are solidly positive: Industrials at +$14B and Energy at +$10.9B. That is a meaningful short-term reversal after a sustained run. Money that had been moving into cyclicals appears to be pausing.
Financials tell the opposite story. Flat this week at +$150M, but over three months the sector bled -$10.3B. Short-term stabilisation after a rough quarter.
Materials flipped sharply. It gained +$834M this week but lost -$6B over three months. A possible early-stage rotation back in.
Equities dominated asset class flows at $57.2B net for the week. Fixed income added $15.8B. Commodities pulled in $3.4B this week — a stark contrast to the three-month picture where commodities posted a -$71.4B net outflow. That is a sharp weekly reversal from a deep three-month trend.
On strategy, active management continues to attract strong inflows. It brought in $12.2B this week, with a flow imbalance of 83.5. Over three months, active funds have gathered $134B. Growth strategies are the standout over three months at +$329.7B with a 93.2 imbalance. ESG remains firmly out of favour over three months at -$15.1B, though it posted a small positive this week.
The overall tone is risk-on. Equities are absorbing capital broadly, tech leads sector flows, and the short-term commodity reversal hints that some investors may be hedging against macro uncertainty even as they chase equity upside.
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.
