ETF Flow Analysis

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When to use this

• Seeing which sectors or themes are attracting or losing capital
• Reading positioning and sentiment at a higher level than single stocks
• Confirming a sector thesis with flow data
• Spotting rotation between themes

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Step 1: Look at the flow picture

Show me the ETF flow picture for [sector or theme]. Where is money flowing in and out, and what does that suggest about positioning?

What do ETF flows tell us about positioning in semiconductors and AI infrastructure right now?

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Step 2: Read rotation

Which sectors are seeing the strongest inflows and outflows recently, and is there a rotation pattern?

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Step 3: Connect flows to names

For the theme attracting the most flows, which individual names are the main beneficiaries, and are fundamentals keeping up with the money?

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Step 4: Use flows as context, not a trigger

Given these flows and the fundamentals, is the capital movement justified or is it a crowding risk?

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Common mistakes

• Chasing flows. Heavy inflows can signal crowding, which is a risk, not just a green light.
• Ignoring fundamentals. Money flowing into a theme does not make the underlying businesses good.
• Reading flows in isolation. Combine with positioning and fundamentals for a complete picture.

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Prompt variations

Are flows into [theme] accelerating or decelerating, and what's the trend over the past few months?

Compare flows into [sector A] versus [sector B] and what the divergence suggests.

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Related

• Smart Money Skill — positioning and flow data
• Sector Radar — the sector-level view
• Data and coverage — the ETF and fund data behind this guide