Weekly Channel Summary
The Alternative ETF channel, comprising 45 funds from 27 issuers, grew its total assets to $9.5 billion this week. Investor appetite for the channel accelerated, with a net inflow of $222 million over the last five trading days, a significant increase from the previous week. This brings the robust year-to-date net inflow to $3.57 billion and the one-year total to a strong $3.90 billion.
This Week’s Performance Leaders and Laggards
The inverse relationship between volatility strategies was again the primary performance driver this week. The “Alternative: Volatility – Short” category delivered a positive 0.63% return, chipping away at its year-to-date loss, which now stands at -7.11%. As expected, the “Alternative: Volatility – Long” category moved in the opposite direction, falling 1.30%. The “Absolute Return” categories all posted modest gains, led by Managed Futures with a 0.44% weekly return.
Absolute Return Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Absolute Return – Managed Futures | 0.44% | 2.75% | 4.96% | 0.06% | 0.09% | 0.36% |
| Absolute Return – Event Driven | 0.29% | 0.51% | 0.99% | 4.74% | 6.67% | 7.75% |
| Absolute Return – Multi-Strategy | 0.03% | 0.75% | 4.00% | 2.93% | 3.01% | 3.31% |
Volatility Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Alternative: Volatility – Short | 0.63% | 7.98% | 22.12% | 1.91% | -7.11% | -10.45% |
| Alternative: Volatility – Long | -1.30% | -15.06% | -33.97% | -30.40% | -27.16% | -29.29% |
Top & Bottom 5 ETFs by Weekly Performance
Drilling down to individual funds, the Simplify Volatility Premium ETF (SVOL) was the week’s top performer, gaining 1.13%. On the other side of the ledger, the Opportunistic Trader ETF (WZRD) and the 2x Long VIX Futures ETF (UVIX) experienced the most significant losses, declining by 2.93% and 2.83%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| SVOL | Simplify Volatility Premium ETF | 1.13% |
| SVIX | -1x Short VIX Futures ETF | 0.99% |
| SPCX | SPAC and New Issue ETF | 0.98% |
| FLSP | Franklin Systematic Style Premia ETF | 0.90% |
| HFND | Unlimited HFND Multi-Strategy Return Tracker ETF | 0.82% |
| Bottom Performers | ||
| QIS | Simplify Multi-QIS Alternative ETF | -1.44% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | -1.91% |
| VIXI | Defiance Enhanced Long Vol ETF | -1.99% |
| UVIX | 2x Long VIX Futures ETF | -2.83% |
| WZRD | Opportunistic Trader ETF | -2.93% |
Analyzing the Weekly Flows
Flows this week showed a continued conviction from investors buying into weakness. The “Alternative: Volatility – Long” category, despite underperforming, captured the lion’s share of inflows with $173 million. In contrast, “Volatility – Short” funds saw $15 million in outflows. The “Absolute Return” space saw renewed interest, with Multi-Strategy funds gathering $46 million and Managed Futures adding $19 million, while Event Driven funds remained flat.
Absolute Return Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Absolute Return – Multi-Strategy | 10 | $1.5B | $46M | $38M | $15M | $68M | $206M |
| Absolute Return – Managed Futures | 14 | $3.8B | $19M | $181M | $366M | $1,221M | $1,582M |
| Absolute Return – Event Driven | 9 | $0.4B | $0M | ($3M) | $2M | ($23M) | ($67M) |
Volatility Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Alternative: Volatility – Long | 7 | $2.5B | $173M | $506M | $2,207M | $2,733M | $2,672M |
| Alternative: Volatility – Short | 5 | $1.3B | ($15M) | ($71M) | ($426M) | ($433M) | ($490M) |
Top & Bottom 5 ETFs by 5-Day Flow
The week’s top flows were dominated by long volatility products. The ProShares Ultra VIX Short-Term Futures ETF (UVXY) was the clear leader, pulling in $87 million. It was followed by the iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX), which gathered $48 million. The most significant outflows came from two short volatility funds, the Simplify Volatility Premium ETF (SVOL) and the -1x Short VIX Futures ETF (SVIX), both shedding $8 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | $87M |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | $48M |
| QIS | Simplify Multi-QIS Alternative ETF | $40M |
| UVIX | 2x Long VIX Futures ETF | $31M |
| DBMF | IMGP DBi Managed Futures Strategy ETF | $9M |
| Outflows | ||
| SPCX | SPAC and New Issue ETF | ($1M) |
| QALT | SEI DBI Multi-Strategy Alternative ETF | ($1M) |
| AHLT | American Beacon AHL Trend ETF | ($1M) |
| SVIX | -1x Short VIX Futures ETF | ($8M) |
| SVOL | Simplify Volatility Premium ETF | ($8M) |
Issuer League Table Update
The top of the issuer league table remains consistent, with Simplify holding the lead at a 20.94% market share ($2.00B AUM), followed by iM at 15.27% ($1.46B AUM). ProShares was the standout flows winner this week, attracting an impressive $94 million in new assets. This was followed by iPath, which gathered $48 million. There were no significant outflows among the top issuers this week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Simplify | 3 | $2.00B | 20.94% |
| iM | 1 | $1.46B | 15.27% |
| ProShares | 6 | $1.30B | 13.67% |
| iPath | 2 | $1.01B | 10.59% |
| New York Life Investments | 2 | $0.97B | 10.14% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| ProShares | $94M |
| iPath | $48M |
| Simplify | $33M |
| Outflows | |
| Tuttle Capital | ($1M) |
| SEI | ($1M) |
| American Beacon | ($1M) |
For a deeper dive into these trends, access our FREE, in-depth Thematic 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.
