The biggest money flow story this week is a sharp return to technology. Information Technology ETFs pulled in $8.4B in net flows over the past week. The flow imbalance sits at 69.5 — firmly in buying-pressure territory. Over three months, the sector has absorbed $102.9B. It is the dominant destination for institutional money.
The U.S. leads all regions with $11.1B in net inflows this week. Flow imbalance is 54.5 — broadly balanced but leaning positive. Global ETFs added $9.0B, with an imbalance of 64.1 signalling clear buying pressure.
China is the week's biggest loser geographically. It saw $6.2B exit over the past seven days. Outflows topped $11.9B against just $5.7B in inflows. The three-month picture is worse: China has shed $52.9B over that period. Developed Europe also bled $920M this week, with an imbalance of just 31.5.
The bright spots beyond the U.S. are Hong Kong (+$2.1B, imbalance 77.2) and Developed Markets Ex-U.S. (+$1.0B, imbalance 80.8). Japan added $1.4B this week, though that trails its $279.6B three-month haul sharply. Japan has been the biggest non-U.S. destination over the quarter.
Technology dominates, but the rotation story lies elsewhere. Financials lost $3.4B this week, with a flow imbalance of just 20.5. That is a steep reversal from its three-month trend. Industrials dropped $858M this week. Over three months, Industrials had attracted nearly $11.9B. Money is now moving out of that trade.
Energy also reversed. It drew $8.9B over three months but saw $577M exit this week. Real Estate bucked the pattern, gaining $695M this week after modest three-month flows. Consumer Staples attracted $355M this week — a defensive tilt showing up at the edges.
Equity ETFs took in $27.1B this week. Fixed Income added $16.0B. The two are running together, suggesting broad appetite rather than a pure risk-on rotation. Commodities attracted $3.0B this week — a reversal from the three-month trend where they shed $67.2B. That is the clearest short-term trend shift in the data.
Currencies saw $1.7B in outflows this week. The three-month figure shows a small positive, so this week's move is a modest pullback.
On strategy, Active ETFs led with $10.4B in net inflows this week. Vanilla passive funds added $5.8B. Over three months, Growth strategies dominated with $328.6B in net flows and a flow imbalance of 93.0 — the highest conviction reading in the entire dataset. Value captured $1.2B this week and $7.1B over three months, but it is dwarfed by Growth.
ESG continued to lose ground. It shed $415M this week and $20.4B over three months.
Overall, the tone is cautiously risk-on: equities and bonds rising together, tech regaining favour, but defensives ticking up and China clearly out of favour.
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.
