Money has been switched around ever since global markets have hit their nadir, and lately, it’s been leaving U.S. equities. Which exchange traded funds (ETFs) have been getting this cash?

Research firm EPFR Global reported that net assets have been flowing out of U.S. equities, but money market funds did not benefit from those outflows, writes Gary Gordon for ETF Expert.

The money had to go somewhere, and go somewhere it did: to emerging market stocks and emerging market bonds. In fact, emerging market bonds raked in almost $1 billion in a single week. It was the largest weekly inflow ever on EPFR’s record books. (Six things you’re missing by not going global).

For more information on emerging markets, visit our emerging market category.