Macro Summary
The Buffer ETF landscape continues its steady growth, currently boasting a total AUM of $81.7 billion across 457 ETFs and 20 active issuers. For the week ending January 9, 2026, the channel recorded net weekly inflows of $377 million, which contributes to a year-to-date total of $471 million.
Over the past year, the segment has attracted a total of $14.3 billion in flows, underscoring the sustained appetite for defined outcome strategies in volatile markets. This momentum is further reflected in the primary market, with 24 new ETFs launched in the last three months, expanding the opportunity set for risk-conscious investors.
Performance
Performance within the Buffer channel was highly idiosyncratic this week, reflecting the varied underlying security exposures and structural caps of individual funds. Among the underlying asset categories, Commodity: Focused – Precious Metals led the way with a strong Week-to-Date (WTD) return of 5.75%, while Digital Asset: Cryptocurrency – Bitcoin was the relative laggard with a return of 0.51%.
Investors looking to evaluate how specific outcome periods or buffer levels have performed relative to their benchmarks can find more detailed data in our full performance report. For a comprehensive look at the top-performing structures and recent laggards, refer to the free performance report in the right-side panel.
Flows
Weekly flow activity was concentrated in Equity-based buffers, which saw $367 million in new capital. The January outcome period was the most active implementation slice, attracting $612 million in inflows, while the PJAN led all individual funds with $201 million in weekly flows.
Flows by Asset Class
| Asset Class | # of Funds | AUM | WTD Flow | 1M Flow | 3M Flow | YTD Flow | 1Y Flow |
|---|---|---|---|---|---|---|---|
| Buffer – Commodity | 1 | $55M | $1M | $7M | $17M | $1M | $5M |
| Buffer – Crypto | 19 | $210M | $2M | $16M | $48M | $1M | $190M |
| Buffer – Equity | 417 | $80,770M | $367M | $902M | $3,686M | $434M | $13,878M |
| Buffer – Fixed Income | 2 | $31M | ($1M) | ($3M) | ($4M) | ($1M) | ($18M) |
| Buffer Synthetic Income | 18 | $613M | $8M | $46M | $81M | $36M | $258M |
Flows by Implementation (Outcome Period)
| Implementation | WTD Flow | 1M Flow | 3M Flow | YTD Flow | 1Y Flow |
|---|---|---|---|---|---|
| Inflows | |||||
| Buffer Reset: January | $612M | $178M | $383M | $634M | $760M |
| Buffer Reset: December | $144M | $825M | $598M | $160M | $397M |
| Buffer Reset: Laddered | $102M | $425M | $1,008M | $135M | $3,246M |
| Outflows | |||||
| Buffer Reset: October | ($146M) | $5M | $1,111M | ($142M) | $1,103M |
| Buffer Reset: July | ($82M) | ($226M) | ($646M) | ($80M) | $494M |
| Buffer Reset: June | ($75M) | ($72M) | ($309M) | ($72M) | $99M |
Individual Fund Flows (WTD)
| Ticker | Fund Name | WTD Flow |
|---|---|---|
| Top 5 Inflows | ||
| PJAN | Innovator U.S. Equity Power Buffer ETF – January | $201M |
| IJAN | Innovator International Developed Power Buffer ETF – January | $68M |
| KJAN | Innovator U.S. Small Cap Power Buffer ETF – January | $63M |
| SFLR | Innovator Equity Managed Floor ETF | $59M |
| NJAN | Innovator Growth-100 Power Buffer ETF – January | $52M |
| Top 5 Outflows | ||
| BALT | Innovator Defined Wealth Shield ETF | ($121M) |
| PJUL | Innovator U.S. Equity Power Buffer ETF – July | ($44M) |
| DDFO | Innovator Equity Dual Directional 15 Buffer ETF – October | ($40M) |
| PNOV | Innovator U.S. Equity Power Buffer ETF – November | ($36M) |
| KSEP | Innovator U.S. Small Cap Power Buffer ETF – September | ($27M) |
League Tables
The competitive landscape remains top-heavy, with the two largest brands controlling the vast majority of assets. FT Vest holds the top spot with $39.93 billion in AUM despite modest weekly flows of $62 million. In contrast, Innovator, the second-largest issuer with $30.24 billion in AUM, was the clear weekly flow leader, capturing $279 million in new net assets.
Top 5 Issuers by AUM
| Issuer | # of ETFs | AUM | Market Share |
|---|---|---|---|
| FT Vest | 115 | $39.93B | 48.83% |
| Innovator | 158 | $30.24B | 36.98% |
| Allianz | 49 | $5.04B | 6.17% |
| AB Funds | 3 | $1.35B | 1.66% |
| Pacer | 13 | $1.25B | 1.53% |
Issuer Flows (WTD)
| Issuer | WTD Flow | 1M Flow | 3M Flow | YTD Flow | 1Y Flow |
|---|---|---|---|---|---|
| Inflows | |||||
| Innovator | $279M | $273M | $1.20B | $0.30B | $5.16B |
| FT Vest | $62M | $749M | $1.60B | $0.10B | $5.66B |
| Allianz | $55M | -$250M | $0.11B | $0.06B | $0.85B |
| Outflows | |||||
| Goldman Sachs | -$16M | -$14M | -$0.02B | -$0.02B | $0.01B |
| Calamos | -$10M | $6M | $0.00B | -$0.01B | $0.25B |
| AB Funds | -$8M | $21M | $0.08B | -$0.01B | $0.54B |
Explore the data behind the insights. This weekly recap is just the start. Access the complete, in-depth reports for FREE in the right side panel to analyze performance, track flows, and view the latest league tables.
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.
