Weekly Channel Summary
The Global Ex-U.S. Size & Style ETF channel, which currently encompasses 342 ETFs across 93 unique issuers, commands a total Assets Under Management (AUM) of $1,880.1 billion. Over the past five days, the channel experienced a modest net inflow of roughly $176 million. Despite short-term fluctuations, investor commitment to the international space remains robust over longer timeframes, with the channel gathering $130.88 billion in Year-to-Date (YTD) net flows and nearly $258.87 billion over the trailing 1-year period.
This Week’s Performance Leaders and Laggards
It was a challenging week across the board for international equities, with all major categories posting negative returns. The Global Ex-U.S. Large Cap – Value category held up the best, posting a -1.74% Week-to-Date (WTD) return while maintaining a strong 10.13% return Year-to-Date (YTD). Conversely, the Global Ex-U.S. Small | Mid Cap category lagged its peers with a WTD drop of -2.90%, though it still holds a solid 9.19% gain YTD.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Global Ex-U.S. Large Cap – Value | -1.74% | 0.74% | 4.00% | 12.95% | 10.13% | 27.31% |
| Global Ex-U.S. Large Cap – Blend | -2.12% | 1.22% | 4.65% | 11.03% | 8.89% | 21.61% |
| Emerging Small | Mid Cap | -2.39% | -1.91% | 7.59% | 14.19% | 13.21% | 24.02% |
| Global Ex-U.S. Large Cap – Growth | -2.60% | 1.49% | 5.25% | 9.53% | 8.06% | 18.10% |
| Emerging Large Cap | -2.71% | 2.33% | 12.36% | 22.64% | 20.69% | 42.81% |
| Global Ex-U.S. Small | Mid Cap | -2.90% | -0.68% | 2.25% | 11.69% | 9.19% | 26.93% |
At the individual fund level, the IPOS (Renaissance International IPO ETF) shined in the broader Global Ex-U.S. segment with a resilient WTD return of +1.30%. In Emerging Markets, the PPEM (Putnam PanAgora ESG Emerging Markets Equity ETF) eked out a positive +0.05% finish. Conversely, severe underperformance was noted by the EEMO (Invesco S&P Emerging Markets Momentum ETF) and FTHF (First Trust Emerging Markets Human Flourishing ETF), plunging -9.86% and -8.31%, respectively.
Top & Bottom 5 Global Ex-U.S. ETFs by Weekly Performance
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| IPOS | Renaissance International IPO ETF | 1.30% |
| PPIE | Putnam PanAgora ESG International Equity ETF | 0.11% |
| TLCI | Touchstone International Equity ETF | 0.00% |
| FYLD | Cambria Foreign Shareholder Yield ETF | -0.03% |
| PZIV | Pzena International Value ETF | -0.15% |
| Bottom Performers | ||
| PIZ | Invesco Dorsey Wright Developed Markets Momentum ETF | -7.29% |
| FDT | First Trust Developed Markets ex-US AlphaDEX Fund | -6.34% |
| FPXI | First Trust International Equity Opportunities ETF | -5.43% |
| IDHQ | Invesco S&P International Developed High Quality ETF | -4.95% |
| JADE | JPMorgan Active Developing Markets Equity ETF | -4.78% |
Top & Bottom 5 Emerging Market ETFs by Weekly Performance
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| PPEM | Putnam PanAgora ESG Emerging Markets Equity ETF | 0.05% |
| DEM | WisdomTree Emerging Markets High Dividend Fund | -0.42% |
| FNDE | Schwab Fundamental Emerging Markets Equity ETF | -0.58% |
| EDIV | State Street SPDR S&P Emerging Markets Dividend ETF | -0.69% |
| EMCS | Xtrackers MSCI Emerging Markets Select ETF | -0.71% |
| Bottom Performers | ||
| EEMO | Invesco S&P Emerging Markets Momentum ETF | -9.86% |
| FTHF | First Trust Emerging Markets Human Flourishing ETF | -8.31% |
| EMDM | First Trust Bloomberg Emerging Market Democracies ETF | -6.48% |
| WCME | First Trust WCM Developing World Equity ETF | -6.23% |
| EMXC | iShares MSCI Emerging Markets ex China ETF | -5.85% |
Analyzing the Weekly Flows
Net flows for the overall channel painted a mixed picture this week, netting a tepid $176 million. The Global Ex-U.S. Large Cap – Blend category easily led the charge, hauling in $2,646 million to push its total AUM past $1.13 trillion. The Global Ex-U.S. Large Cap – Growth segment also experienced significant buying, acquiring $774 million in weekly net new money. Dragging down the channel, however, was a heavy exodus from the Global Ex-U.S. Large Cap – Value space, which surrendered $3,386 million over the same 5-day span.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Global Ex-U.S. Large Cap – Blend | 124 | $1,130.0B | $2,646M | $13,478M | $34,995M | $71,360M | $151,613M |
| Global Ex-U.S. Large Cap – Growth | 27 | $49.5B | $774M | $1,414M | $7,100M | $8,458M | $7,938M |
| Global Ex-U.S. Small | Mid Cap | 21 | $70.9B | $495M | $637M | $1,800M | $4,366M | $11,947M |
| Emerging Small | Mid Cap | 6 | $3.4B | ($8M) | ($74M) | ($150M) | ($161M) | ($266M) |
| Emerging Large Cap | 104 | $485.3B | ($345M) | $934M | $4,827M | $36,802M | $68,158M |
| Global Ex-U.S. Large Cap – Value | 55 | $141.1B | ($3,386M) | ($1,892M) | $1,165M | $9,956M | $19,381M |
On a single-ticker basis, VXUS (Vanguard Total International Stock ETF) was the top asset gatherer in the Global Ex-U.S. segment, amassing $826 million. Over in Emerging Markets, the CGNG (Capital Group New Geography Equity ETF) led inflows by pulling in $168 million. However, substantial cash exits plagued specific funds, particularly the EFV (iShares MSCI EAFE Value ETF) which bled $3,800 million, and the IEMG (iShares Core MSCI Emerging Markets ETF) which shed $309 million.
Top & Bottom 5 Global Ex-U.S. ETFs by 5-Day Flow
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VXUS | Vanguard Total International Stock ETF | $826M |
| EFG | iShares MSCI EAFE Growth ETF | $641M |
| CORO | iShares International Country Rotation Active ETF | $505M |
| AVDV | Avantis International Small Cap Value ETF | $225M |
| IXUS | iShares Core MSCI Total International Stock ETF | $194M |
| Outflows | ||
| EFV | iShares MSCI EAFE Value ETF | ($3,800M) |
| QEFA | State Street SPDR MSCI EAFE StrategicFactor ETF | ($97M) |
| PIEQ | Principal International Equity ETF | ($66M) |
| EFAV | iShares MSCI EAFE Min Vol Factor ETF | ($36M) |
| VIGI | Vanguard International Dividend Appreciation ETF | ($28M) |
Top & Bottom 5 Emerging Market ETFs by 5-Day Flow
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| CGNG | Capital Group New Geography Equity ETF | $168M |
| DFAE | Dimensional Emerging Core Equity Market ETF | $45M |
| FRDM | Freedom 100 Emerging Markets ETF | $40M |
| EMOP | AB Emerging Markets Opportunities ETF | $21M |
| DFEM | Dimensional Emerging Markets Core Equity 2 ETF | $21M |
| Outflows | ||
| IEMG | iShares Core MSCI Emerging Markets ETF | ($309M) |
| SPEM | State Street SPDR Portfolio Emerging Markets ETF | ($179M) |
| ESGE | iShares ESG Aware MSCI EM ETF | ($167M) |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | ($32M) |
| FNDE | Schwab Fundamental Emerging Markets Equity ETF | ($25M) |
Issuer League Table Update
The Global Ex-U.S. channel remains highly concentrated among industry giants. iShares retains the top spot with a dominant 38.67% market share, closely followed by Vanguard at 33.13%. However, when looking at recent momentum, Vanguard captured the most attention with an impressive $1,061 million in weekly net inflows. At the other end of the spectrum, iShares faced the heaviest headwind as the primary issuer experiencing outflows, shedding $2,846 million for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 42 | $727.01B | 38.67% |
| Vanguard | 11 | $622.99B | 33.13% |
| Schwab | 7 | $124.09B | 6.60% |
| Dimensional | 15 | $103.73B | 5.52% |
| Avantis | 12 | $68.64B | 3.65% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $1,061M |
| Dimensional | $573M |
| Avantis | $452M |
| Outflows | |
| iShares | ($2,846M) |
| State Street | ($272M) |
| Principal | ($66M) |
For a deeper dive into these trends, access our FREE, in-depth 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.
