Weekly Channel Summary
The Alternative ETF channel, consisting of 48 distinct ETFs managed by 28 issuers, oversees approximately $13.4 billion in total Assets Under Management (AUM). This week generated solid momentum with $260M in 5-Day net flows. Year-to-date, the channel has accumulated $3.27B, and over the trailing 1-year period, it has gathered a substantial $6.04B in net new capital, underscoring enduring investor appetite for alternative investment strategies.
This Week’s Performance Leaders and Laggards
This week distinctly showcased the inverse performance relationship between the Volatility – Short and Volatility – Long categories. “Alternative: Volatility – Long” was the strongest performer, returning 4.86% for the week (though it remains pressured at -6.56% YTD). Conversely, “Alternative: Volatility – Short” struggled, pulling back -2.27% over the last 5 days. Within the Absolute Return segment, the “Event Driven” category led the cohort, posting a modest weekly gain of 0.07%.
Absolute Return Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Absolute Return – Event Driven | 0.07% | 0.38% | 1.19% | 2.06% | 1.86% | 6.09% |
| Absolute Return – Managed Futures | -0.66% | -1.95% | 2.87% | 13.15% | 11.46% | 22.42% |
| Absolute Return – Multi-Strategy | -2.28% | -3.75% | -3.56% | -1.38% | -1.26% | 10.00% |
Volatility Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Alternative: Volatility – Long | 4.86% | -10.36% | -18.99% | -18.16% | -6.56% | -46.20% |
| Alternative: Volatility – Short | -2.27% | 4.68% | 5.73% | 1.90% | -3.79% | 23.69% |
Top & Bottom 5 ETFs by Weekly Performance
The standout performer of the week was the UVIX (2x Long VIX Futures ETF), capitalizing on market movements to notch a 9.95% weekly gain. On the other end of the spectrum, the two most significant laggards were WZRD (Opportunistic Trader ETF), which suffered a -17.38% decline, and SVIX (-1x Short VIX Futures ETF), reflecting the struggles of its short-volatility strategy with a -5.67% drop.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| UVIX | 2x Long VIX Futures ETF | 9.95% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | 7.06% |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | 4.87% |
| VIXY | ProShares VIX Short-Term Futures ETF | 4.86% |
| VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ETN | 1.22% |
| Bottom Performers | ||
| WZRD | Opportunistic Trader ETF | -17.38% |
| SVIX | -1x Short VIX Futures ETF | -5.67% |
| WTIP | WisdomTree Inflation Plus Fund | -3.41% |
| ASGM | Virtus AlphaSimplex Global Macro ETF | -2.74% |
| SVXY | ProShares Short VIX Short-Term Futures ETF | -2.54% |
Analyzing the Weekly Flows
The Alternative channel registered $260M in net positive inflows this week. Driving much of this growth was clear contrarian buying in the “Alternative: Volatility – Long” category, which attracted an impressive $123M in inflows despite being down substantially over the past year. In contrast, “Alternative: Volatility – Short” faced the steepest outflows, shedding -$17M, pointing to tactical profit-taking by investors securing gains from its strong 1-year run. The Absolute Return categories experienced net additions, with Managed Futures bringing in $97M and Multi-Strategy netting $56M.
Absolute Return Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Absolute Return – Managed Futures | 16 | $7.5B | $97M | $607M | $1,282M | $2,400M | $3,522M |
| Absolute Return – Multi-Strategy | 12 | $2.5B | $56M | $72M | $540M | $579M | $804M |
| Absolute Return – Event Driven | 9 | $0.4B | $1M | -$2M | -$23M | -$35M | -$9M |
Volatility Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Alternative: Volatility – Long | 6 | $1.8B | $123M | $493M | $682M | $396M | $2,407M |
| Alternative: Volatility – Short | 5 | $1.1B | -$17M | -$115M | -$35M | -$75M | -$689M |
Top & Bottom 5 ETFs by 5-Day Flow
At the product level, DBMF (IMGP DBi Managed Futures Strategy ETF) attracted the most capital, gathering $96M in new assets over 5 days, representing a solid 2.44% of its AUM. Redemptions were concentrated at the bottom, with KMLM (KraneShares Mount Lucas Managed Futures Index Strategy ETF) and SVOL (Simplify Volatility Premium ETF) witnessing the largest withdrawals of -$19M and -$12M respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| DBMF | IMGP DBi Managed Futures Strategy ETF | $96M |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | $62M |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | $35M |
| LALT | First Trust Multi-Strategy Alternative ETF | $33M |
| VIXY | ProShares VIX Short-Term Futures ETF | $32M |
| Outflows | ||
| KMLM | KraneShares Mount Lucas Managed Futures Index Strategy ETF | -$19M |
| SVOL | Simplify Volatility Premium ETF | -$12M |
| UVIX | 2x Long VIX Futures ETF | -$8M |
| AHLT | American Beacon AHL Trend ETF | -$7M |
| SVIX | -1x Short VIX Futures ETF | -$6M |
Issuer League Table Update
The issuer hierarchy remains concentrated at the top. iM continues to assert dominance with $4.04 billion in assets, commanding a leading 30.06% of the category’s AUM. Simplify securely holds the second position with $2.24 billion and a 16.66% market share. Capitalizing on strong inflows into its primary strategy, iM also led the issuers this week, netting $96M, followed closely by ProShares. Meanwhile, KraneShares faced the most significant headwinds, shedding -$19M over the past 5 days.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iM | 1 | $4.04B | 30.06% |
| Simplify | 5 | $2.24B | 16.66% |
| New York Life Investments | 2 | $1.26B | 9.37% |
| ProShares | 6 | $1.06B | 7.92% |
| Franklin | 1 | $0.93B | 6.93% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iM | $96M |
| ProShares | $95M |
| First Trust | $44M |
| Outflows | |
| KraneShares | -$19M |
| Volatility Shares | -$13M |
| American Beacon | -$7M |
For a deeper dive into these trends, access our FREE, in-depth Alternative ETF reports in the right side panel of this page.
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.
