Weekly Channel Summary
The Global Ex-U.S. Size & Style channel, comprising 348 ETFs from 100 issuers, holds nearly $1.95 trillion in total assets. Investors continued to allocate capital to international equities, adding a net $5.8 billion over the past week. This recent activity contributes to a substantial year-to-date inflow of $182.8 billion, bringing the one-year total to over $270 billion in new assets.
This Week’s Performance Leaders and Laggards
Performance was generally positive but muted across Global Ex-U.S. categories this week. Global Ex-U.S. Small | Mid Cap funds led the way with an average gain of 0.84%, bringing their year-to-date return to 15.77%. Conversely, Global Ex-U.S. Large Cap – Value was the weakest performing group, inching up just 0.08% for the week. Despite the slow week, the value category maintains a strong 18.90% return year-to-date.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Global Ex-U.S. Small | Mid Cap | 0.84% | 5.71% | 2.29% | 3.89% | 15.77% | 26.27% |
| Emerging Large Cap | 0.80% | 1.71% | -0.03% | 7.93% | 19.27% | 30.97% |
| Global Ex-U.S. Large Cap – Growth | 0.53% | 4.14% | 6.11% | 6.71% | 13.78% | 20.44% |
| Global Ex-U.S. Large Cap – Blend | 0.52% | 4.11% | 5.11% | 6.91% | 16.83% | 26.18% |
| Emerging Small | Mid Cap | 0.13% | 0.62% | -1.54% | 2.41% | 12.05% | 16.52% |
| Global Ex-U.S. Large Cap – Value | 0.08% | 4.32% | 5.60% | 7.15% | 18.90% | 30.76% |
Top & Bottom 5 ETFs by Weekly Performance
The Invesco S&P Emerging Markets Momentum ETF (EEMO) was the standout performer, surging 5.81% for the week. On the other end of the spectrum, the GMO Beyond China ETF (BCHI) experienced the largest decline, falling 3.35%. This divergence highlights the varied performance within the broader emerging markets space, where other top performers also included several actively managed strategies.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| EEMO | Invesco S&P Emerging Markets Momentum ETF | 5.81% |
| EMEQ | Nomura ETF Trust Nomura Focused Emerging Markets Equity ETF | 4.54% |
| TEMX | Touchstone Sands Capital Emerging Markets ex-China Growth ETF | 4.40% |
| PJIO | PGIM Jennison Focused International Equity ETF | 4.20% |
| EMSF | Matthews Emerging Markets Sustainable Future Active ETF | 3.80% |
| Bottom Performers | ||
| BCHI | GMO Beyond China ETF | -3.35% |
| BKF | iShares MSCI BIC ETF | -2.71% |
| RNEM | First Trust Emerging Markets Equity Select ETF | -2.36% |
| RISE | Pictet Emerging Markets Rising Economies ETF | -2.34% |
| ECOW | Pacer Emerging Markets Cash Cows 100 ETF | -2.33% |
Analyzing the Weekly Flows
The channel saw robust net inflows of $5.8 billion, with investors favoring large-cap strategies. Global Ex-U.S. Large Cap – Blend funds attracted the most capital, pulling in over $2.6 billion. The Large Cap – Value and Emerging Large Cap categories also saw significant demand, with inflows of $1.7 billion and $1.3 billion, respectively. In contrast, both small and mid-cap categories for developed and emerging markets experienced minor net outflows for the week.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Global Ex-U.S. Large Cap – Blend | 128 | $1,189.69B | $2,636M | $10,408M | $39,591M | $102,240M | $159,058M |
| Global Ex-U.S. Large Cap – Value | 56 | $154.69B | $1,703M | $5,392M | $6,282M | $18,843M | $24,473M |
| Emerging Large Cap | 105 | $483.80B | $1,271M | $6,892M | $12,256M | $48,636M | $70,384M |
| Global Ex-U.S. Large Cap – Growth | 29 | $52.51B | $270M | $684M | $2,775M | $10,042M | $8,515M |
| Global Ex-U.S. Small | Mid Cap | 23 | $70.74B | -$21M | -$878M | -$456M | $3,135M | $8,463M |
| Emerging Small | Mid Cap | 7 | $3.27B | -$26M | -$20M | -$63M | -$146M | -$195M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares MSCI EAFE Value ETF (EFV) dominated inflows, attracting an impressive $1.14 billion in new assets, accounting for a significant portion of the channel’s total weekly intake. On the redemption side, the iShares MSCI EAFE Small-Cap ETF (SCZ) saw the largest outflow at $121 million. The State Street SPDR Portfolio Emerging Markets ETF (SPEM) also experienced notable redemptions, shedding $47 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| EFV | iShares MSCI EAFE Value ETF | $1,142M |
| IEMG | iShares Core MSCI Emerging Markets ETF | $573M |
| VXUS | Vanguard Total International Stock ETF | $489M |
| AVEM | Avantis Emerging Markets Equity ETF | $458M |
| ACWX | iShares MSCI ACWI ex U.S. ETF | $374M |
| Outflows | ||
| SCZ | iShares MSCI EAFE Small-Cap ETF | -$121M |
| SPEM | State Street SPDR Portfolio Emerging Markets ETF | -$47M |
| AVDV | Avantis International Small Cap Value ETF | -$43M |
| DGS | WisdomTree Emerging Markets SmallCap Dividend Fund | -$26M |
| AVSD | Avantis Responsible International Equity ETF | -$25M |
Issuer League Table Update
iShares and Vanguard continue to lead the channel, commanding 38.2% and 33.2% of the market share, respectively. iShares also led the week in asset gathering, bringing in nearly $2.3 billion in net inflows, heavily influenced by its flagship value fund. Vanguard and Avantis also had strong showings with inflows of $743 million and $635 million. WisdomTree was the issuer with the largest net outflow, though it was a modest $39 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 42 | $747.53B | 38.24% |
| Vanguard | 11 | $649.44B | 33.22% |
| Schwab | 7 | $129.36B | 6.62% |
| Dimensional | 15 | $109.44B | 5.60% |
| Avantis | 12 | $72.21B | 3.69% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $2,287M |
| Vanguard | $743M |
| Avantis | $635M |
| Outflows | |
| WisdomTree | -$39M |
| Cambria | -$36M |
| Harding Loevner | -$7M |
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.
