Weekly Channel Summary
The Global Ex-U.S. Size & Style channel, comprising 309 ETFs from 85 issuers, closed the week with a total AUM of $1.395 trillion. The channel saw significant investor interest, attracting net inflows of $5.46 billion over the past week. This positive momentum builds on a strong year, with year-to-date net flows reaching $98.09 billion and total flows over the past year hitting an impressive $134.70 billion.
This Week’s Performance Leaders and Laggards
Emerging Markets led the charge this week, with the Equity: Emerging Large Cap category posting the strongest week-to-date (WTD) return of 3.21%. This category has also performed well year-to-date, with a gain of 22.14%. On the other end of the spectrum, the Equity: Global Ex-U.S. Large Cap – Value category was the primary laggard, though it still posted a positive return of 1.26% for the week and remains a top performer year-to-date with a 29.29% return.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Equity: Emerging Large Cap | 3.21% | 4.32% | 9.19% | 20.01% | 22.14% | 21.31% |
| Equity: Emerging Small | Mid Cap | 1.66% | 4.00% | 8.16% | 19.58% | 17.77% | 16.71% |
| Equity: Global Ex-U.S. Small | Mid Cap | 1.52% | 3.30% | 9.49% | 23.88% | 30.75% | 26.76% |
| Equity: Global Ex-U.S. Large Cap – Blend | 1.50% | 2.70% | 5.31% | 15.52% | 24.19% | 19.34% |
| Equity: Global Ex-U.S. Large Cap – Growth | 1.46% | 2.66% | 3.25% | 13.16% | 19.27% | 14.81% |
| Equity: Global Ex-U.S. Large Cap – Value | 1.26% | 2.50% | 6.97% | 18.01% | 29.29% | 24.86% |
At the individual fund level, performance was strongest in Emerging Markets, with the Macquarie Focused Emerging Markets Equity ETF (EMEQ) surging 8.24%. In the Global Ex-U.S. space, the JPMorgan Active Developing Markets Equity ETF (JADE) led with a 3.87% gain. The weakest performers were concentrated in the Global Ex-U.S. large-cap segment, with the First Trust International Developed Capital Strength ETF (FICS) and the Polen Capital International Growth ETF (PCIG) posting modest losses.
Top & Bottom 5 Global Ex-U.S. ETFs by Weekly Performance
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| JADE | JPMorgan Active Developing Markets Equity ETF | 3.87% |
| DINT | Davis Select International ETF | 3.76% |
| IMOM | Alpha Architect International Quantitative Momentum ETF | 3.23% |
| CGXU | Capital Group International Focus Equity ETF | 3.16% |
| PATN | Pacer Nasdaq International Patent Leaders ETF | 3.11% |
| Bottom Performers | ||
| FICS | First Trust International Developed Capital Strength ETF | -0.18% |
| PCIG | Polen Capital International Growth ETF | -0.13% |
| HDEF | Xtrackers MSCI EAFE High Dividend Yield Equity ETF | -0.09% |
| QLVD | FlexShares Developed Markets ex-US Quality Low Volatility Index Fund | 0.03% |
| QLTI | GMO International Quality ETF | 0.06% |
Top & Bottom 5 Emerging Market ETFs by Weekly Performance
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| EMEQ | Macquarie Focused Emerging Markets Equity ETF | 8.24% |
| EMCS | Xtrackers MSCI Emerging Markets Climate Selection ETF | 5.01% |
| EVLU | iShares MSCI Emerging Markets Value Factor ETF | 4.93% |
| MEM | Matthews Emerging Markets Equity Active ETF | 4.79% |
| EMDM | First Trust Bloomberg Emerging Market Democracies ETF | 4.79% |
| Bottom Performers | ||
| XC | WisdomTree True Emerging Markets Fund | 0.72% |
| EMDV | ProShares MSCI Emerging Markets Dividend Growers ETF | 0.94% |
| FEMS | First Trust Emerging Markets Small Cap AlphaDEX Fund | 0.98% |
| SDEM | Global X MSCI SuperDividend Emerging Markets ETF | 1.06% |
| EELV | Invesco S&P Emerging Markets Low Volatility ETF | 1.14% |
Analyzing the Weekly Flows
The channel attracted over $5.46 billion in net new assets this week. The Global Ex-U.S. Large Cap – Blend category was the clear favorite, pulling in $3.36 billion. This category, with a massive AUM of $860.7 billion, continues to dominate the space. The Emerging Large Cap category also saw significant inflows of $1.19 billion. The only category to see outflows was Emerging Small | Mid Cap, which shed $38 million over the last 30 days and has seen outflows of $489 million year-to-date.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Global Ex-U.S. Large Cap – Blend | 110 | $860.7B | $3,359M | $11,622M | $33,037M | $65,881M | $89,587M |
| Emerging Large Cap | 98 | $334.1B | $1,185M | $1,954M | $11,067M | $16,395M | $22,786M |
| Global Ex-U.S. Large Cap – Value | 50 | $105.7B | $535M | $1,537M | $4,760M | $13,951M | $17,724M |
| Global Ex-U.S. Small | Mid Cap | 18 | $52.7B | $253M | $529M | $2,471M | $3,046M | $3,523M |
| Global Ex-U.S. Large Cap – Growth | 26 | $38.7B | $131M | $675M | $1,517M | ($691M) | $1,913M |
| Emerging Small | Mid Cap | 6 | $3.2B | $0M | ($38M) | ($97M) | ($489M) | ($831M) |
The iShares Core MSCI EAFE ETF (IEFA) was the week’s biggest asset gatherer in the Global Ex-U.S. space, taking in a substantial $1.91 billion. For Emerging Markets, the iShares Core MSCI Emerging Markets ETF (IEMG) led inflows with $647 million. On the flip side, the WisdomTree International Hedged Quality Dividend Growth Fund (IHDG) experienced the largest outflow among Global Ex-U.S. funds at -$34 million, while outflows in Emerging Markets were minimal, led by the Nuveen ESG Emerging Markets Equity ETF (NUEM) shedding just -$4 million.
Top & Bottom 5 Global Ex-U.S. ETFs by 5-Day Flow
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| IEFA | iShares Core MSCI EAFE ETF | $1,914M |
| VXUS | Vanguard Total International Stock ETF | $343M |
| DFIV | Dimensional International Value ETF | $263M |
| VEA | Vanguard FTSE Developed Markets ETF | $183M |
| AVDE | Avantis International Equity ETF | $167M |
| Outflows | ||
| IHDG | WisdomTree International Hedged Quality Dividend Growth Fund | ($34M) |
| HFXI | NYLI FTSE International Equity Currency Neutral ETF | ($18M) |
| EDGI | 3EDGE Dynamic International Equity ETF | ($12M) |
| DLS | WisdomTree International SmallCap Dividend Fund | ($12M) |
| SSXU | Strategy Shares Day Hagan Smart Sector International ETF | ($11M) |
Top & Bottom 5 Emerging Market ETFs by 5-Day Flow
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| IEMG | iShares Core MSCI Emerging Markets ETF | $647M |
| SPEM | SPDR Portfolio Emerging Markets ETF | $278M |
| DFAE | Dimensional Emerging Core Equity Market ETF | $67M |
| AVEM | Avantis Emerging Markets Equity ETF | $65M |
| DEM | WisdomTree Emerging Markets High Dividend Fund | $32M |
| Outflows | ||
| NUEM | Nuveen ESG Emerging Markets Equity ETF | ($4M) |
| MEM | Matthews Emerging Markets Equity Active ETF | ($3M) |
| EMC | Global X Emerging Markets Great Consumer ETF | ($2M) |
| RAYE | Rayliant Quantamental Emerging Market ex-China ETF | $0M |
| SDEM | Global X MSCI SuperDividend Emerging Markets ETF | $0M |
Issuer League Table Update
The issuer landscape remains dominated by iShares and Vanguard, which command 40.05% and 33.66% of the market share, respectively. iShares led the pack in weekly asset gathering, pulling in a massive $2.73 billion. Among the top issuers, flows were overwhelmingly positive, with only Xtrackers experiencing minor weekly outflows of -$3 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 41 | $558.78B | 40.05% |
| Vanguard | 8 | $469.54B | 33.66% |
| Schwab | 7 | $96.75B | 6.94% |
| Dimensional | 15 | $73.06B | 5.24% |
| SPDR | 12 | $50.19B | 3.60% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $2,725M |
| Dimensional | $703M |
| Vanguard | $676M |
| Outflows | |
| New York Life Investments | ($18M) |
| 3Edge | ($12M) |
| Day Hagan | ($11M) |
For a deeper dive into these trends, access our FREE, in-depth Thematic ETF reports in the right side panel of this page.
Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
