PCR Surges While SWAN Bleeds: Inside This Week’s Specialty ETF Moves

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Weekly Channel Summary

The EQ: Specialty channel, comprising 79 ETFs across 54 issuers with a total Assets Under Management (AUM) of $16.1 billion, experienced a net outflow of -$122 million over the past five days. Despite this recent weekly pullback, the channel remains strongly positive over longer timeframes, having accumulated $1.18 billion in Year-to-Date (YTD) inflows and an impressive $2.88 billion in net flows over the past year.

This Week’s Performance Leaders and Laggards

For the past week, the Equity: Specialty – Hedged category led performance with a Week-to-Date (WTD) return of 0.63%, also maintaining a solid Year-to-Date (YTD) gain of 3.94%. The Equity: Specialty – Long | Short category slightly lagged for the week at 0.52%, though it currently boasts a higher YTD performance of 4.66%.

Category Performance Snapshot

Category WTD 1 Month 3 Month 6 Month YTD 1 Year
Equity: Specialty – Hedged 0.63% 6.36% 2.49% 3.94% 3.94% 19.44%
Equity: Specialty – Long | Short 0.52% 3.89% 1.90% 5.09% 4.66% 15.79%

Top & Bottom 5 ETFs by Weekly Performance

Looking at individual products, the PCR (Simplify VettaFi Private Credit Strategy ETF) was the single best-performing ETF this week, surging 3.63%. Conversely, the SHRT (Gotham Short Strategies ETF) and CBLS (Clough Hedged Equity ETF) were the two worst-performing ETFs, dropping -3.12% and -2.25%, respectively.

Ticker Fund Name WTD Performance
Top Performers
PCR Simplify VettaFi Private Credit Strategy ETF 3.63%
AINT FINQ DOLLAR NEUTRAL U.S. Large Cap Al-Managed Equity ETF 2.61%
HELS Hedgeye 130/30 Equity ETF 2.13%
QGRD Horizon Nasdaq-100 Defined Risk ETF 1.69%
FORH Formidable ETF 1.67%
Bottom Performers
SHRT Gotham Short Strategies ETF -3.12%
CBLS Clough Hedged Equity ETF -2.25%
FFLS Future Fund Long/Short ETF -1.23%
TOS Twin Oak Strategic Solutions ETF -0.92%
CLIX ProShares Long Online/Short Stores ETF -0.59%

Analyzing the Weekly Flows

The EQ: Specialty channel saw a net outflow of -$122 million this week, primarily driven by the Equity: Specialty – Hedged category, which shed -$173 million from its $11.2 billion asset base. On the other hand, the Equity: Specialty – Long | Short category continued to attract capital, leading the channel with $50 million in weekly inflows.

Category Flows Summary

Category Fund Count AUM 5 Day 30 Day 90 Day YTD 1 Year
Equity: Specialty – Long | Short 27 $4.9B $50M $132M $482M $794M $966M
Equity: Specialty – Hedged 52 $11.2B -$173M -$116M $92M $387M $1,910M

Top & Bottom 5 ETFs by 5-Day Flow

At the fund level, the IALT (iShares Systematic Alternatives Active ETF) gathered the most assets this week with $33 million in inflows. Conversely, the SWAN (Amplify BlackSwan Growth & Treasury Core ETF) and ORR (Militia Long/Short Equity ETF) experienced the heaviest redemptions, losing -$214 million and -$23 million, respectively.

Ticker Fund Name 5-Day Flow
Inflows
IALT iShares Systematic Alternatives Active ETF $33M
FTLS First Trust Long/Short Equity ETF $26M
CLSE Convergence Long/Short Equity ETF $13M
FHEQ Fidelity Hedged Equity ETF $12M
HEFT Hedgeye Fourth Turning ETF $9M
Outflows
SWAN Amplify BlackSwan Growth & Treasury Core ETF -$214M
ORR Militia Long/Short Equity ETF -$23M
BTAL AGF U.S. Market Neutral Anti-Beta Fund -$8M
MRSK Toews Agility Shares Managed Risk ETF -$1M
GTR WisdomTree Target Range Fund -$1M

Issuer League Table Update

In the issuer rankings, JPMorgan maintains the dominant position with 26.95% of the channel’s market share, followed by First Trust at 14.34%. iShares gathered the most assets among issuers this week with $33 million in inflows, while Amplify experienced the largest withdrawals at -$214 million.

Top 5 Issuers by AUM

Brand Fund Count AUM AUM Market Share
JPMorgan 3 $4.33B 26.95%
First Trust 1 $2.30B 14.34%
Fidelity 2 $0.85B 5.29%
Alpha Architect 2 $0.67B 4.20%
Swan 1 $0.66B 4.13%

Top & Bottom 3 Issuers by 5-Day Flow

Brand 5-Day Flow
Inflows
iShares $33M
First Trust $26M
Convergence $13M
Outflows
Amplify -$214M
Militia -$23M
AGF -$8M

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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.