Massive EWY Outflow Drags Asia-Pacific Flows Negative Despite Regional Performance Lead

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Weekly Channel Summary

The Region & Country ETF channel encompasses 192 funds from 38 issuers, with total assets under management standing at $307.90 billion. The segment saw modest net inflows of $208 million for the week, contributing to a strong year-to-date intake of $27.00 billion. Over the past year, investors have allocated a total of $37.53 billion to these geographically-focused strategies.

This Week’s Performance Leaders and Laggards

Performance was mixed across different regions this week, with Asia-Pacific strategies leading the way with a 0.59% gain. This region has also posted the strongest returns year-to-date, rising 30.03%. In contrast, North America-focused funds were the laggards, declining by 1.07% for the week. The other regions, including Latin America and Africa-Middle East, posted modest gains.

Region Performance Snapshot

Region WTD 1 Month 3 Month 6 Month YTD 1 Year
Asia-Pacific 0.59% 7.63% -0.10% 8.35% 30.03% 47.35%
Latin America 0.47% -0.22% -0.17% -4.94% 13.06% 29.08%
Africa-Middle East 0.30% 6.22% -2.08% 1.14% 8.49% 21.09%
Eurozone -0.71% 3.23% 4.94% 4.44% 12.47% 21.03%
North America -1.07% 3.02% 6.03% 7.33% 15.11% 28.70%

Top & Bottom 5 ETFs by Weekly Performance

Korean-focused funds dominated the top performers list, led by the PLUS Korea Manufacturing Core Alliance Index ETF (KMCA), which surged 7.78%. Two other Korean strategies, KDEF and KSMH, also delivered strong returns. On the other end of the spectrum, the iShares MSCI Philippines ETF (EPHE) was the worst performer, falling 5.63%.

Ticker Fund Name WTD Performance
Top Performers
KMCA PLUS Korea Manufacturing Core Alliance Index ETF 7.78%
KDEF PLUS Korea Defense Industry Index ETF 6.32%
KSMH xETFs Korea AI Semiconductor ETF 4.10%
VNAM Global X MSCI Vietnam ETF 3.85%
EWT iShares MSCI Taiwan ETF 3.45%
Bottom Performers
EPHE iShares MSCI Philippines ETF -5.63%
CNXT VanEck ChiNext Innovators ETF -3.94%
THD iShares MSCI Thailand ETF -3.30%
MAGC Roundhill China Magnificent Seven ETF -3.23%
COLO Global X MSCI Colombia ETF -3.04%

Analyzing the Weekly Flows

The channel attracted a net total of $208 million in new assets over the past week. Investor interest was concentrated in Eurozone funds, which brought in $197 million, and Latin America funds, which gathered $173 million. Conversely, the Asia-Pacific region experienced the largest outflows, shedding $173 million for the week. This outflow marks a notable reversal from the region’s strong positive flows over the last 30 and 90 days.

Region Flows Summary

Region Fund Count AUM 5 Day 30 Day 90 Day YTD 1 Year
Eurozone 55 $90.53B $197M $1,354M $3,325M $2,630M $5,980M
Latin America 15 $17.59B $173M -$906M -$2,576M $2,534M $3,767M
North America 3 $19.27B $18M $602M $1,499M $2,937M $3,325M
Africa-Middle East 11 $3.11B -$7M -$72M -$207M $361M $637M
Asia-Pacific 108 $177.41B -$173M $4,355M $8,352M $18,540M $23,823M

Top & Bottom 5 ETFs by 5-Day Flow

At the fund level, the iShares MSCI China ETF (MCHI) was the most popular, attracting $110 million in net new assets. Outflows were dominated by a single fund, the iShares MSCI South Korea ETF (EWY), which saw a significant withdrawal of $423 million. The iShares MSCI Netherlands ETF (EWN) recorded the second-largest outflow at $97 million.

Ticker Fund Name 5-Day Flow
Inflows
MCHI iShares MSCI China ETF $110M
INDA iShares MSCI India ETF $107M
ILF iShares Latin America 40 ETF $105M
EWG iShares MSCI Germany ETF $93M
EZU iShares MSCI Eurozone ETF $93M
Outflows
EWY iShares MSCI South Korea ETF -$423M
EWN iShares MSCI Netherlands ETF -$97M
AIA iShares Asia 50 ETF -$42M
EWH iShares MSCI Hong Kong ETF -$31M
DXJ WisdomTree Japan Hedged Equity Fund -$18M

Issuer League Table Update

iShares continues to lead the issuer landscape with a 53.93% market share, followed by JPMorgan with 15.26% of the channel’s assets. This week, Franklin was the top asset gatherer, securing $62 million in net inflows across its fund lineup. On the other side of the ledger, VanEck experienced the largest net outflows among issuers, with a modest redemption of $7 million.

Top 5 Issuers by AUM

Brand Fund Count AUM AUM Market Share
iShares 64 $166.04B 53.93%
JPMorgan 5 $46.99B 15.26%
Vanguard 2 $39.94B 12.97%
Franklin 18 $15.85B 5.15%
WisdomTree 10 $12.89B 4.19%

Top & Bottom 3 Issuers by 5-Day Flow

Brand 5-Day Flow
Inflows
Franklin $62M
Vanguard $46M
iShares $38M
Outflows
VanEck -$7M
Columbia -$3M
First Trust -$2M

For a deeper dive into these trends, access our FREE, in-depth Region & Country 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.