Weekly Channel Summary
The Global Ex-U.S. Size & Style channel, comprising 319 ETFs from 90 issuers, holds a total of $1,442 billion in assets under management. This past week, the channel saw significant net inflows of $5.87 billion, contributing to a year-to-date total of $124.61 billion and a 1-year total of $145.14 billion in new assets.
This Week’s Performance Leaders and Laggards
This week, performance was mixed, with Global Ex-U.S. Large Cap – Value being the only category to post a positive return, gaining 0.19% WTD and bringing its YTD return to 30.97%. The primary laggard was the Global Ex-U.S. Large Cap – Growth category, which fell 1.65% for the week, though it remains up 20.00% year-to-date.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Equity: Global Ex-U.S. Large Cap – Value | 0.19% | 0.73% | 5.15% | 14.20% | 30.97% | 26.20% |
| Equity: Global Ex-U.S. Large Cap – Blend | -0.79% | -0.57% | 4.63% | 12.47% | 25.56% | 20.43% |
| Equity: Emerging Large Cap | -0.96% | 1.36% | 8.26% | 20.40% | 26.52% | 20.16% |
| Equity: Global Ex-U.S. Small | Mid Cap | -1.22% | -1.81% | 2.63% | 16.07% | 29.12% | 25.09% |
| Equity: Emerging Small | Mid Cap | -1.24% | -1.34% | 2.60% | 15.24% | 15.76% | 10.85% |
| Equity: Global Ex-U.S. Large Cap – Growth | -1.65% | -2.07% | 3.55% | 9.81% | 20.00% | 15.78% |
Among individual ETFs, the top performer in the Emerging Markets segment was the iShares Emerging Markets Dividend ETF (DVYE) with a 2.20% gain. In the Global Ex-U.S. segment, the First Trust S&P International Dividend Aristocrats ETF (FID) led with a 1.32% return. The worst performers this week were the First Trust International Equity Opportunities ETF (FPXI) and the Polen Capital International Growth ETF (PCIG), down -4.84% and -4.54% respectively.
Top & Bottom 5 Global Ex-U.S. ETFs by Weekly Performance
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| FID | First Trust S&P International Dividend Aristocrats ETF | 1.32% |
| HDEF | Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 1.15% |
| GVAL | Cambria Global Value ETF | 1.10% |
| PID | Invesco International Dividend Achievers ETF | 1.04% |
| HDMV | First Trust Horizon Managed Volatility Developed Intl ETF | 1.01% |
| Bottom Performers | ||
| FPXI | First Trust International Equity Opportunities ETF | -4.84% |
| PCIG | Polen Capital International Growth ETF | -4.54% |
| TXUG | Thornburg International Growth Fund ETF | -3.34% |
| PJIO | PGIM Jennison International Opportunities ETF | -3.14% |
| MCSE | Franklin Sustainable International Equity ETF | -3.01% |
Top & Bottom 5 Emerging Market ETFs by Weekly Performance
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| DVYE | iShares Emerging Markets Dividend ETF | 2.20% |
| SDEM | Global X MSCI SuperDividend Emerging Markets ETF | 1.82% |
| ECOW | Pacer Emerging Markets Cash Cows 100 ETF | 1.03% |
| UEVM | VictoryShares Emerging Markets Value Momentum ETF | 1.01% |
| JPEM | JPMorgan Diversified Return Emerging Markets Equity ETF | 0.84% |
| Bottom Performers | ||
| PCEM | Polen Capital Emerging Markets ex China Growth ETF | -3.77% |
| OAEM | OneAscent Enhanced Small and Mid Cap ETF Institutional Shs… | -3.27% |
| EMC | Global X Emerging Markets Great Consumer ETF | -2.71% |
| MEMX | Matthews Emerging Markets ex China Active ETF | -2.44% |
| TEMX | Touchstone Sands Capital Emerging Markets ex-China Growth ETF | -2.35% |
Analyzing the Weekly Flows
The channel experienced strong net inflows of $5.87 billion over the past week. The Global Ex-U.S. Large Cap – Blend category was the primary recipient, gathering $2,505 million in new assets, bringing its total AUM to $886.3 billion. Emerging Large Cap also saw significant inflows of $1,845 million. Notably, all categories within this channel experienced net positive flows for the week, with Emerging Small | Mid Cap seeing the smallest inflow at $20 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Global Ex-U.S. Large Cap – Blend | 112 | $886.3B | $2,505M | $10,025M | $30,452M | $84,202M | $97,457M |
| Emerging Large Cap | 99 | $354.1B | $1,845M | $3,274M | $9,358M | $23,703M | $26,025M |
| Global Ex-U.S. Small | Mid Cap | 19 | $54.6B | $896M | $2,420M | $3,216M | $5,693M | $6,632M |
| Global Ex-U.S. Large Cap – Value | 51 | $107.7B | $543M | $1,217M | $2,854M | $15,155M | $17,336M |
| Global Ex-U.S. Large Cap – Growth | 27 | $35.9B | $55M | $114M | ($2,216M) | ($3,682M) | ($1,601M) |
| Emerging Small | Mid Cap | 6 | $3.1B | $20M | $26M | ($14M) | ($466M) | ($710M) |
On an individual ETF basis, the iShares Core MSCI Emerging Markets ETF (IEMG) dominated inflows, pulling in $1,093 million. The top gainer in the Global Ex-U.S. segment was the iShares MSCI EAFE Small-Cap ETF (SCZ) with $771 million. The largest outflows were seen in the iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV), which lost ($332 million), and the WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE), which saw ($99 million) in outflows.
Top & Bottom 5 Global Ex-U.S. ETFs by 5-Day Flow
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SCZ | iShares MSCI EAFE Small-Cap ETF | $771M |
| VXUS | Vanguard Total International Stock ETF | $711M |
| IEFA | iShares Core MSCI EAFE ETF | $317M |
| VEA | Vanguard FTSE Developed Markets ETF | $309M |
| SPDW | SPDR Portfolio Developed World ex-US ETF | $302M |
| Outflows | ||
| VSS | Vanguard FTSE All-World ex-US Small-Cap ETF | ($57M) |
| DFIS | Dimensional International Small Cap ETF | ($56M) |
| EFAV | iShares MSCI EAFE Min Vol Factor ETF | ($51M) |
| SCHC | Schwab International Small-Cap Equity ETF | ($23M) |
| HEFA | iShares Currency Hedged MSCI EAFE ETF | ($16M) |
Top & Bottom 5 Emerging Market ETFs by 5-Day Flow
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| IEMG | iShares Core MSCI Emerging Markets ETF | $1,093M |
| VWO | Vanguard FTSE Emerging Markets ETF | $451M |
| SPEM | SPDR Portfolio Emerging Markets ETF | $342M |
| AVEM | Avantis Emerging Markets Equity ETF | $271M |
| FNDE | Schwab Fundamental Emerging Markets Equity ETF | $40M |
| Outflows | ||
| EEMV | iShares MSCI Emerging Markets Min Vol Factor ETF | ($332M) |
| XSOE | WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | ($99M) |
| JEMA | JPMorgan ActiveBuilders Emerging Markets Equity ETF | ($30M) |
| XCEM | Columbia EM Core ex-China ETF | ($14M) |
| JHEM | John Hancock Multifactor Emerging Markets ETF | ($10M) |
Issuer League Table Update
The issuer landscape remains concentrated, with iShares (39.49%) and Vanguard (33.67%) controlling the vast majority of market share. This week, iShares also led in asset gathering, pulling in $1,983 million in net new flows. Among the top issuers, WisdomTree experienced the largest outflows, shedding ($89 million).
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 41 | $569.43B | 39.49% |
| Vanguard | 9 | $485.52B | 33.67% |
| Schwab | 7 | $99.43B | 6.90% |
| Dimensional | 15 | $75.92B | 5.27% |
| SPDR | 12 | $53.20B | 3.69% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $1,983M |
| Vanguard | $1,609M |
| SPDR | $685M |
| Outflows | |
| WisdomTree | ($89M) |
| Columbia | ($14M) |
| VictoryShares | ($7M) |
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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.
