Europe bulls crowd ETF flows in Q1, US left behind

U.S. investors piled into European stocks and pulled money out of the U.S. in the first quarter of this year according to the latest flow figures for exchange-traded funds (ETFs), which show some $38 billion of fresh capital flowed into non-U.S. equity funds.

Much of that $38 billion went straight into European stocks according to data from, with the two most popular ETFs of the quarter in terms of money flows were both euro-hedged European stock funds -- WisdomTree Inter Hedge Equity Fund and Deutsche Bank X MSCI EAFE Currency-Hedged Equity Fund.

Read MoreEurope's bulls run…but for how long?