Weekly Channel Summary
The Synthetic Income channel closed the week with $169.1B in total Assets Under Management (AUM) across 328 ETFs from 65 issuers. The channel attracted $397M in net inflows over the past 5 days. Longer-term trends remain robust, with Year-to-Date flows reaching $69.3B and flows over the past 1 year totaling $70.2B.
This Week’s Performance Leaders and Laggards
Performance within the Synthetic Income space was mixed this week, with significant divergence between commodity-linked strategies and certain option-based overlays. Precious metals strategies, particularly those focused on Silver and Gold, dominated the top of the leaderboard, while single-stock option strategies and some crypto-linked funds faced headwinds.
Top & Bottom 5 ETFs by Weekly Performance
The standout performer this week was the Kurv Silver Enhanced Income ETF (KSLV), which surged 18.53%. On the downside, the two worst-performing funds were the REX IncomeMax Option Strategy ETF (ULTI), down -4.05%, and the Amplify Solana 3% Monthly Option Income ETF (SOLM), which fell -3.04%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| KSLV | Kurv Silver Enhanced Income ETF | 18.53% |
| YGLD | Simplify Gold Strategy PLUS Income ETF | 6.82% |
| GDXW | Roundhill Gold Miners WeeklyPay ETF | 5.51% |
| CAS | Simplify China A Shares PLUS Income ETF | 5.35% |
| GLDW | Roundhill Gold WeeklyPay ETF | 5.23% |
| Bottom Performers | ||
| ULTI | REX IncomeMax Option Strategy ETF | -4.05% |
| SOLM | Amplify Solana 3% Monthly Option Income ETF | -3.04% |
| ETHI | Defiance Leveraged Long Income Ethereum ETF | -2.37% |
| NEHI | NEOS Ethereum High Income ETF | -1.74% |
| FIVY | YieldMax Dorsey Wright Hybrid 5 Income ETF | -1.32% |
Analyzing the Weekly Flows
The Synthetic Income channel saw a total net flow of $397M this week. The largest inflows came from the Synthetic Income – Equity category, which added $331M and holds a total AUM of $150.0B. The Synthetic Income – Crypto category also saw solid demand with $86M in inflows. Conversely, the Synthetic Income – Single Stock category experienced the most significant outflows, shedding $94M.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Synthetic Income – Equity | 160 | $149,983M | $331M | $4,630M | $9,807M | $49,298M | $50,032M |
| Synthetic Income – Crypto | 22 | $1,816M | $86M | $543M | $966M | $2,516M | $2,534M |
| Synthetic Income – Fixed Income | 18 | $4,584M | $43M | $180M | $686M | $1,596M | $1,576M |
| Synthetic Income – Commodity | 12 | $1,699M | $30M | $141M | $377M | $802M | $802M |
| Synthetic Income – Multi-Asset | 3 | $188M | $1M | $3M | ($2M) | $29M | $29M |
| Synthetic Income – Single Stock | 104 | $10,798M | ($94M) | $1,486M | $2,717M | $15,084M | $15,273M |
Top & Bottom 5 ETFs by 5-Day Flow
Leading the inflows this week was the NEOS Nasdaq 100 High Income ETF (QQQI), which gathered an impressive $307M. On the other end of the spectrum, the JPMorgan NASDAQ Equity Premium Income ETF (JEPQ) and the Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF (QDPL) saw the largest outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| QQQI | NEOS Nasdaq 100 High Income ETF | $307M |
| SPYI | NEOS S&P 500 High Income ETF | $141M |
| BTCI | NEOS Bitcoin High Income ETF | $90M |
| QYLD | Global X NASDAQ 100 Covered Call ETF | $64M |
| QDTE | Roundhill Innovation-100 0DTE Covered Call Strategy ETF | $51M |
| Outflows | ||
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | ($620M) |
| QDPL | Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF | ($38M) |
| ULTY | YieldMax Ultra Option Income Strategy ETF | ($20M) |
| KNG | FT Vest S&P 500 Dividend Aristocrats Target Income ETF | ($15M) |
| LQDW | iShares Investment Grade Corporate Bond BuyWrite Strategy ETF | ($10M) |
Issuer League Table Update
JPMorgan maintains its lead in the issuer rankings with 44.19% market share, followed by Neos with 10.57%. Neos was the most successful issuer this week in terms of gathering assets, bringing in $607M. On the other hand, JPMorgan, the largest issuer by AUM, saw the most significant outflows, with $571M leaving its funds.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 3 | $74.75B | 44.19% |
| Neos | 15 | $17.89B | 10.57% |
| Global X | 14 | $13.19B | 7.80% |
| YieldMax | 60 | $11.56B | 6.83% |
| FT Vest | 11 | $7.86B | 4.65% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Neos | $607M |
| Global X | $108M |
| Amplify | $77M |
| Outflows | |
| JPMorgan | ($571M) |
| YieldMax | ($152M) |
| Pacer | ($40M) |
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Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
