Weekly Channel Summary
The Global Ex-U.S. Size & Style ETF channel continues to be a massive segment of the international equity landscape, currently managing approximately $1,487 billion in total assets across 322 ETFs and 91 issuers. Activity remained robust this past week, with the channel attracting a substantial $10.22 billion in net inflows. This strong weekly showing bolsters an already impressive year, bringing Year-To-Date (YTD) flows to $158.22 billion and trailing one-year flows to $163.82 billion, signaling sustained investor appetite for international exposure outside of domestic U.S. markets.
This Week’s Performance Leaders and Laggards
Performance across the channel was mixed this week, with Global Ex-U.S. categories generally edging higher while Emerging Markets segments struggled. The Equity: Global Ex-U.S. Small | Mid Cap category led the way with a 0.49% return for the week, maintaining its strong YTD position of 35.04%. Conversely, the Equity: Emerging Large Cap category was the primary laggard, declining -0.74% on the week, though it still remains up 26.70% for the year.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Equity: Global Ex-U.S. Small | Mid Cap | 0.49% | 5.44% | 3.32% | 14.09% | 35.04% | 36.97% |
| Equity: Global Ex-U.S. Large Cap – Blend | 0.33% | 4.59% | 4.00% | 11.44% | 29.51% | 30.08% |
| Equity: Global Ex-U.S. Large Cap – Value | 0.31% | 5.04% | 6.08% | 14.41% | 36.41% | 38.13% |
| Equity: Global Ex-U.S. Large Cap – Growth | 0.05% | 4.09% | 1.76% | 8.00% | 22.74% | 22.55% |
| Equity: Emerging Small | Mid Cap | -0.40% | 0.68% | -3.43% | 7.22% | 15.06% | 14.68% |
| Equity: Emerging Large Cap | -0.74% | 1.27% | 2.56% | 14.28% | 26.70% | 26.27% |
At the individual fund level, the IDMO (Invesco S&P International Developed Momentum ETF) was a standout performer in the Global Ex-U.S. segment, rising 1.67%. In the Emerging Markets segment, the EDOG (ALPS Emerging Sector Dividend Dogs ETF) led with a 1.04% return. On the downside, the EMEQ (Nomura Focused Emerging Markets Equity ETF) and EFFE (Harbor Osmosis Emerging Markets Resource Efficient ETF) were the worst overall performers, falling -2.20% and -2.19%, respectively.
Top & Bottom 5 Global Ex-U.S. ETFs by Weekly Performance
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| IDMO | Invesco S&P International Developed Momentum ETF | 1.67% |
| ISVL | iShares Intl Developed Small Cap Value Factor ETF | 1.36% |
| IPKW | Invesco International BuyBack Achievers ETF | 1.26% |
| DWMF | WisdomTree International Multifactor Fund | 1.23% |
| HEFA | iShares Currency Hedged MSCI EAFE ETF | 1.16% |
| Bottom Performers | ||
| PATN | Pacer Nasdaq International Patent Leaders ETF | -1.70% |
| ICOW | Pacer Developed Markets International Cash Cows 100 ETF | -1.52% |
| IPOS | Renaissance International IPO ETF | -1.33% |
| DNL | WisdomTree Global ex-U.S. Quality Growth Fund | -1.04% |
| PCIG | Polen Capital International Growth ETF | -1.01% |
Top & Bottom 5 Emerging Market ETFs by Weekly Performance
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| EDOG | ALPS Emerging Sector Dividend Dogs ETF | 1.04% |
| RNEM | First Trust Emerging Markets Equity Select ETF | 0.61% |
| HEEM | iShares Currency Hedged MSCI Emerging Markets ETF | 0.46% |
| EMDV | ProShares MSCI Emerging Markets Dividend Growers ETF | 0.46% |
| AVES | Avantis Emerging Markets Value ETF | 0.41% |
| Bottom Performers | ||
| EMEQ | Nomura Focused Emerging Markets Equity ETF | -2.20% |
| EFFE | Harbor Osmosis Emerging Markets Resource Efficient ETF | -2.19% |
| EMES | Harbor Emerging Markets Select ETF | -2.05% |
| MEM | Matthews Emerging Markets Equity Active ETF | -2.02% |
| PEMX | Putnam Emerging Markets ex-China ETF | -1.84% |
Analyzing the Weekly Flows
The channel saw total net flows of $10.22 billion this week, with broad participation across almost all categories. The Equity: Global Ex-U.S. Large Cap – Blend category led the way with a massive $5,141 million in weekly inflows, further solidifying its position as the channel’s largest category with $918.7 billion in AUM. The Emerging Large Cap category also saw significant interest with $3,269 million in new money. Interestingly, no major category experienced net outflows this week, underscoring the universal demand for ex-U.S. exposure during this period.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Global Ex-U.S. Large Cap – Blend | 115 | $918.7B | $5,141M | $12,671M | $32,629M | $101,291M | $105,209M |
| Emerging Large Cap | 100 | $355.7B | $3,269M | $7,554M | $15,322M | $34,412M | $35,254M |
| Global Ex-U.S. Large Cap – Value | 51 | $114.6B | $1,182M | $2,566M | $4,237M | $18,141M | $18,623M |
| Global Ex-U.S. Small | Mid Cap | 19 | $58.1B | $370M | $1,255M | $3,307M | $7,590M | $7,791M |
| Global Ex-U.S. Large Cap – Growth | 27 | $36.6B | $248M | $418M | ($575M) | ($3,180M) | ($2,991M) |
| Emerging Small | Mid Cap | 6 | $3.1B | $10M | ($22M) | ($52M) | ($486M) | ($516M) |
Individual flow leaders were dominated by core low-cost benchmarks. In the Global Ex-U.S. segment, the IEFA (iShares Core MSCI EAFE ETF) led all funds with $1,535 million in weekly inflows. The IEMG (iShares Core MSCI Emerging Markets ETF) was the leader for Emerging Markets with $1,830 million. Conversely, the DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) and XSOE (WisdomTree Emerging Markets ex-State-Owned Enterprises Fund) saw the largest weekly outflows of $235 million and $42 million, respectively.
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 | $1,535M |
| VXUS | Vanguard Total International Stock ETF | $829M |
| EFA | iShares MSCI EAFE ETF | $625M |
| IXUS | iShares Core MSCI Total International Stock ETF | $540M |
| JIRE | JPMorgan International Research Enhanced Equity ETF | $457M |
| Outflows | ||
| DBEF | Xtrackers MSCI EAFE Hedged Equity ETF | ($235M) |
| DXIV | Dimensional International Vector Equity ETF | ($3M) |
| FFGX | Fidelity Fundamental Global ex-U.S. ETF | ($3M) |
| FFDI | Fidelity Fundamental Developed International ETF | ($3M) |
| AVNV | Avantis All International Markets Value ETF | ($3M) |
Top & Bottom 5 Emerging Market ETFs by 5-Day Flow
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| IEMG | iShares Core MSCI Emerging Markets ETF | $1,830M |
| AVEM | Avantis Emerging Markets Equity ETF | $462M |
| EEM | iShares MSCI Emerging Markets ETF | $285M |
| EMXC | iShares MSCI Emerging Markets ex China ETF | $222M |
| VWO | Vanguard FTSE Emerging Markets ETF | $108M |
| Outflows | ||
| XSOE | WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | ($42M) |
| SEEM | SEI Select Emerging Markets Equity ETF | ($8M) |
| PIE | Invesco Dorsey Wright Emerging Markets Momentum ETF | ($5M) |
| EELV | Invesco S&P Emerging Markets Low Volatility ETF | ($3M) |
| KEMX | KraneShares MSCI Emerging Markets EX China ETF | $0M |
Issuer League Table Update
iShares and Vanguard continue to dominate the Global Ex-U.S. landscape, holding 38.98% and 33.68% market share, respectively. iShares was the top flow gatherer this week, attracting $6,502 million in new assets. Conversely, Xtrackers saw the largest weekly outflows among top issuers, losing $231 million as investors rotated out of some of their multifactor and currency-hedged offerings.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 41 | $579.75B | 38.98% |
| Vanguard | 9 | $500.90B | 33.68% |
| Schwab | 7 | $102.87B | 6.92% |
| Dimensional | 15 | $80.13B | 5.39% |
| SPDR | 12 | $55.03B | 3.70% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $6,502M |
| Vanguard | $985M |
| Avantis | $890M |
| Outflows | |
| Xtrackers | ($231M) |
| WisdomTree | ($33M) |
| SEI | ($8M) |
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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.
