Investors in leveraged exchange-traded funds (ETFs) experienced a record loss of $25.7 billion last week, marking the largest loss in the history of these funds. The downturn was particularly severe in the leveraged ETF sector, with significant impacts felt across various funds. In contrast, the ProShares UltraPro QQQ ETF ($TQQQ) saw a historic inflow of $1.5 billion within a few days, indicating a strong bet on a potential reversal in the tech sector. This ETF, which tracks the Nasdaq 100, experienced the largest daily inflow in its history. The Nasdaq 100 had fallen over 20% and entered a bear market, yet $TQQQ rallied 35% as the Nasdaq 100 jumped 12% on Wednesday. Over the past week, significant flows were observed in several ETFs, with $SPY receiving $18.5 billion, $VOO attracting $10.7 billion, $TQQQ seeing $8.6 billion, $QQQ gaining $5.2 billion, $BIL receiving $4.8 billion, $VEU up by 1.8%, $IWM up by 0.3%, $FXI down by 3.6%, and $TLT down by 6.9%. These movements reflect broader market trends and investor sentiment. Meanwhile, US leveraged-loan funds faced a record weekly outflow of $6.5 billion, signaling a shift away from high-risk corporate debt. High-yield bond funds also saw substantial outflows, with $15.9 billion withdrawn in the week to Wednesday, according to Bank of America. Equities saw $48.9 billion in inflows during the same period, driven by liquidation events causing ETF share creation to facilitate shorting. Active equity funds suffered $21.3 billion in redemptions, while passive funds saw $70.3 billion in inflows. Foreign ownership of US financial assets remains significant, with foreigners holding $19 trillion in US equities, $7 trillion in Treasuries, and $5 trillion in US credit. This represents 20% of US equities, 30% of Treasuries, and 30% of credit outstanding. Foreigners sold $6.5 billion of US equities during the week, while Treasuries saw the biggest ever weekly inflow of $18.8 billion. Additionally, some of the largest US-listed ETFs tracking Asian equities saw premiums leap on Wednesday as traders rushed to place bets on rebounds in the region's stocks.