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iShares by BlackRock Research Hub

Research on iShares by BlackRock highlights a notable pivot in global ETP flows, reflecting shifting investor sentiment throughout spring 2026. While April saw a significant surge in risk appetite with $212.4 billion in total inflows—led by strong US large-cap equity and credit allocations—the market landscape shifted toward defensive positioning by late May. Recent data indicates a retreat from cyclical sectors like Energy and Industrials in favor of Consumer Staples, alongside a broader contraction in risk assets across Emerging Markets and Europe. Fixed income strategies have experienced similar volatility, moving from a broad appetite for investment-grade credit and high yield in April to a more conservative preference for money market funds and short-duration US and EUR government bonds in May. These trends underscore a tactical transition as investors manage regional disparities, with US and global exposures consistently serving as the primary anchors for liquidity despite broader market fluctuations.

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