US-listed ETFs pulled in $28.9B in the past week. That dwarfs every other geographic region. Global funds added another $18.9B, with a flow imbalance of 84 — a near-unanimous buy signal. The contrast is sharp. Japan shed $8.6B and China lost $8.6B in the same period, both flipping negative after being among the top three geographies over three months.
The US dominated inflows for both timeframes. Over three months, US ETFs attracted $694B. Japan was the second-biggest destination at $300B. That three-month Japan story has reversed hard this week. Japanese ETFs now show a flow imbalance of just 41, deep in selling territory. China tells a similar story. It bled $49B over three months and $8.6B this week alone, with a flow imbalance of only 31. Investors are moving away from Asia in the short term. Global Ex-US funds bucked the trend. Their flow imbalance hit 97 this week — near-total buying pressure — suggesting some rotation into broad international exposure outside Asia.
Technology is the week's standout. Information Technology pulled in $8.6B in seven days, with a flow imbalance of 66. Over three months, it attracted $98.9B — by far the largest sectoral total. The short-term buying pressure confirms the trend is intact. Materials and Real Estate also saw positive weekly flows of $1.2B and $1.1B respectively. Both had been in outflow over three months, making these genuine short-term reversals worth watching. Energy flipped the other way. It gained $10.5B over three months but lost $1.4B this week, imbalance dropping to 23. Industrials also turned negative this week at -$792M, after $13.5B of inflows over three months. That is a notable shift. Financials remain nearly flat on the week but logged $10.9B in outflows over three months.
Fixed Income led all asset classes this week with $17.2B in net inflows. Equity followed closely at $16.2B. The near-parity between bonds and stocks is a cautious signal. Over three months, equities dominated with $1.18T versus $190B for fixed income. Commodities reversed sharply. They logged $3.3B in weekly inflows but were deep in outflow over three months at -$71B. Currency ETFs saw $985M in outflows this week. On strategy, Active funds were the clear winner. They attracted $21.9B this week with a flow imbalance of 87. Growth strategies added $4B, with imbalance at 85. Vanilla passive funds bled $3.3B this week despite dominating three-month flows at $464B — a clear short-term rotation toward active and growth. ESG continued to bleed, losing $804M this week and $15.3B over three months.
Overall, the tone is cautiously risk-on. Money is flowing into US equities, tech, and active growth strategies. But bond inflows nearly matching equities, paired with Asia outflows, suggests investors are hedging their bets.
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.
