Weekly Channel Summary
The Global Ex-U.S. Size & Style channel encompasses 346 ETFs from 99 different issuers, with total assets under management standing at $1.97 trillion. Investors continued to allocate capital to international equities, pouring a net $5.54 billion into the channel over the past week. This brings year-to-date inflows to a substantial $192.7 billion, while the one-year total now stands at $274.9 billion.
This Week’s Performance Leaders and Laggards
Emerging market small and mid-cap funds led performance this week, posting a collective gain of 1.64%. This category has also delivered a strong 13.76% return year-to-date. In contrast, large-cap value funds focused on developed international markets were the weakest performers, declining by 0.57%. Despite the weekly dip, the Global Ex-U.S. Large Cap Value category remains up 18.73% for the year.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Emerging Small | Mid Cap | 1.64% | 6.89% | -1.46% | 2.06% | 13.76% | 15.78% |
| Emerging Large Cap | 0.41% | 6.99% | -0.31% | 6.93% | 20.43% | 31.36% |
| Global Ex-U.S. Small | Mid Cap | 0.40% | 6.89% | 2.88% | 2.66% | 16.51% | 25.08% |
| Global Ex-U.S. Large Cap – Blend | -0.39% | 4.50% | 3.26% | 4.56% | 16.18% | 24.72% |
| Global Ex-U.S. Large Cap – Growth | -0.42% | 4.46% | 3.21% | 4.37% | 12.61% | 18.49% |
| Global Ex-U.S. Large Cap – Value | -0.57% | 3.07% | 5.08% | 5.04% | 18.73% | 29.87% |
Top & Bottom 5 ETFs by Weekly Performance
The Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) was the top-performing fund in the channel, returning 2.68% for the week. Notably, all of the top five performing funds were focused on emerging markets, highlighting the strength in that segment. On the other end of the spectrum, the Nomura Focused Emerging Markets Equity ETF (EMEQ) was the worst performer, with a weekly loss of 2.08%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| PIE | Invesco Dorsey Wright Emerging Markets Momentum ETF | 2.68% |
| AVEE | Avantis Emerging Markets Small Cap Equity ETF | 2.48% |
| EEMS | iShares MSCI Emerging Markets Small Cap ETF | 2.41% |
| EMSC | Sophus Capital Emerging Market Small Cap ETF | 2.27% |
| AVES | Avantis Emerging Markets Value ETF | 2.09% |
| Bottom Performers | ||
| EMEQ | Nomura ETF Trust Nomura Focused Emerging Markets Equity ETF | -2.08% |
| FPXI | First Trust International Equity Opportunities ETF | -2.06% |
| PJIO | PGIM Jennison Focused International Equity ETF | -1.96% |
| ABLG | Abacus FCF International Leaders ETF | -1.92% |
| PID | Invesco International Dividend Achievers ETF | -1.71% |
Analyzing the Weekly Flows
Investors added a net $5.54 billion to Global Ex-U.S. ETFs this week, with flows concentrated in large-cap strategies. The Global Ex-U.S. Large Cap – Blend category was the clear leader, attracting over $3.28 billion in new assets. Emerging Large Cap funds also saw significant demand, pulling in $1.37 billion. Only one category, Emerging Small | Mid Cap, experienced net redemptions, though the amount was a minor $7 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Global Ex-U.S. Large Cap – Blend | 128 | $1,194.28B | $3,279M | $11,630M | $41,612M | $107,628M | $160,213M |
| Emerging Large Cap | 104 | $492.28B | $1,372M | $7,491M | $14,293M | $51,479M | $72,671M |
| Global Ex-U.S. Large Cap – Value | 56 | $157.16B | $769M | $5,418M | $6,863M | $20,655M | $25,782M |
| Global Ex-U.S. Large Cap – Growth | 28 | $52.09B | $65M | $406M | $2,454M | $9,969M | $8,103M |
| Global Ex-U.S. Small | Mid Cap | 23 | $71.75B | $60M | -$581M | -$752M | $3,109M | $8,308M |
| Emerging Small | Mid Cap | 7 | $3.28B | -$7M | -$60M | -$50M | -$184M | -$192M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares Core MSCI Emerging Markets ETF (IEMG) led all funds with $585 million in net inflows, followed closely by other broad-based international funds. Conversely, the Fidelity International Value Factor ETF (FIVA) saw the largest redemptions, with investors pulling $128 million. The iShares MSCI EAFE Small-Cap ETF (SCZ) also faced notable outflows, shedding $87 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| IEMG | iShares Core MSCI Emerging Markets ETF | $585M |
| VEA | Vanguard FTSE Developed Markets ETF | $501M |
| IEFA | iShares Core MSCI EAFE ETF | $464M |
| VWO | Vanguard FTSE Emerging Markets ETF | $424M |
| VXUS | Vanguard Total International Stock ETF | $392M |
| Outflows | ||
| FIVA | Fidelity International Value Factor ETF | -$128M |
| SCZ | iShares MSCI EAFE Small-Cap ETF | -$87M |
| VSS | Vanguard FTSE All-World ex-US Small-Cap ETF | -$48M |
| FDEV | Fidelity International Multifactor ETF | -$46M |
| IHDG | WisdomTree International Hedged Quality Dividend Growth Fund | -$32M |
Issuer League Table Update
The issuer landscape remains dominated by iShares and Vanguard, which command 38.14% and 33.16% of the channel’s market share, respectively. These two giants also captured the vast majority of the week’s inflows, with iShares taking in $1.65 billion and Vanguard adding $1.43 billion. Meanwhile, Fidelity experienced the largest net outflows among issuers for the week, with redemptions totaling $81 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 42 | $751.66B | 38.14% |
| Vanguard | 11 | $653.49B | 33.16% |
| Schwab | 7 | $130.81B | 6.64% |
| Dimensional | 15 | $111.07B | 5.64% |
| Avantis | 12 | $74.00B | 3.75% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $1,650M |
| Vanguard | $1,426M |
| Schwab | $385M |
| Outflows | |
| Fidelity | -$81M |
| WisdomTree | -$34M |
| Bancreek | -$23M |
For a deeper dive into these trends, access our FREE, in-depth Global Ex-U.S. Size & Style 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.
