Weekly Channel Summary
The Alternative ETF channel, consisting of 47 ETFs across 28 issuers, holds a total of $12.8B in Assets Under Management (AUM). This week, the channel experienced robust net inflows of $245M. This positive momentum adds to a strong year for Alternative strategies, with Year-to-Date (YTD) flows currently sitting at $2.45B and 1-Year flows reaching an impressive $5.52B.
This Week’s Performance Leaders and Laggards
This week exhibited the classic inverse relationship between Volatility – Short and Volatility – Long strategies. The Volatility – Short category posted a positive weekly return of 0.27%, even though it remains down -7.10% YTD. Conversely, Volatility – Long lost -0.94% for the week, though it is holding a 1.73% gain YTD. Among the Absolute Return strategies, Event Driven led the pack with a modest 0.14% WTD gain.
Absolute Return Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Absolute Return – Event Driven | 0.14% | 0.46% | 1.00% | 1.81% | 1.53% | 7.30% |
| Absolute Return – Managed Futures | -0.21% | 2.95% | 8.29% | 16.82% | 13.12% | 25.29% |
| Absolute Return – Multi-Strategy | -0.69% | -0.86% | -0.06% | -0.37% | 0.64% | 12.19% |
Volatility Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Alternative: Volatility – Short | 0.27% | 5.19% | -4.89% | 3.21% | -7.10% | 27.22% |
| Alternative: Volatility – Long | -0.94% | -11.12% | -0.28% | -21.68% | 1.73% | -47.66% |
Top & Bottom 5 ETFs by Weekly Performance
On an individual fund level, the ASGM (Virtus AlphaSimplex Global Macro ETF) emerged as the single best-performing ETF for the week, notching a 2.78% return. On the opposite end of the spectrum, the two worst-performing ETFs were WZRD (Opportunistic Trader ETF), plunging -11.15%, and QIS (Simplify Multi-QIS Alternative ETF), dropping -6.64%.
| Top Performers | ||
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| ASGM | Virtus AlphaSimplex Global Macro ETF | 2.78% |
| TFPN | Blueprint Chesapeake Multi-Asset Trend ETF | 1.87% |
| MFUT | Cambria Chesapeake Pure Trend ETF | 1.67% |
| QALT | SEI DBI Multi-Strategy Alternative ETF | 1.50% |
| QAI | NYLI Hedge Multi-Strategy Tracker ETF | 1.24% |
| Bottom Performers | ||
| WZRD | Opportunistic Trader ETF | -11.15% |
| QIS | Simplify Multi-QIS Alternative ETF | -6.64% |
| CTA | Simplify Managed Futures Strategy ETF | -3.57% |
| UVIX | 2x Long VIX Futures ETF | -2.39% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | -1.84% |
Analyzing the Weekly Flows
The Alternative channel registered a total net flow of $245M. A deep dive into the category data reveals interesting investor behavior. The Volatility – Long category attracted the largest bulk of inflows ($236M). Because this category was the worst performer for the week (-0.94%) and over the past year (-47.66%), these inflows represent a highly contrarian bet by investors attempting to buy the dip or hedge equity risks. In stark contrast, Volatility – Short experienced the heaviest outflows at ($28M). This behavior strongly suggests profit-taking, as investors shed assets in a category that has gained 27.22% over the trailing year. Among Absolute Return strategies, Managed Futures gathered $29M in new money, while Multi-Strategy added $8M, and Event Driven remained completely flat.
Absolute Return Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Absolute Return – Managed Futures | 16 | $6.9B | $29M | $346M | $1,517M | $1,823M | $2,986M |
| Absolute Return – Multi-Strategy | 11 | $2.4B | $8M | $360M | $511M | $516M | $734M |
| Absolute Return – Event Driven | 9 | $0.4B | $0M | ($10M) | ($20M) | ($33M) | ($5M) |
Volatility Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Alternative: Volatility – Long | 6 | $1.9B | $236M | $728M | $200M | $127M | $2,914M |
| Alternative: Volatility – Short | 5 | $1.1B | ($28M) | ($141M) | $61M | $21M | ($1,104M) |
Top & Bottom 5 ETFs by 5-Day Flow
Drilling down to individual ETFs, UVXY was the undeniable leader for the week, gathering a massive $147M in absolute flows, representing roughly 45% of its total AUM. On the flip side, the top two ETFs suffering the largest outflows were FMF (bleeding ($18M)) and SVIX (shedding ($15M)).
| Inflows | ||
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | $147M |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | $54M |
| VIXY | ProShares VIX Short-Term Futures ETF | $23M |
| DBMF | IMGP DBi Managed Futures Strategy ETF | $23M |
| UVIX | 2x Long VIX Futures ETF | $12M |
| Outflows | ||
| FMF | First Trust Managed Futures Strategy Fund | ($18M) |
| SVIX | -1x Short VIX Futures ETF | ($15M) |
| SVOL | Simplify Volatility Premium ETF | ($14M) |
| MFUT | Cambria Chesapeake Pure Trend ETF | ($1M) |
| MARB | First Trust Merger Arbitrage ETF | ($1M) |
Issuer League Table Update
The Alternative ETF channel continues to be top-heavy, with iM and Simplify acting as the dominant issuers. iM leads the market with a robust 27.87% market share on $3.56B in AUM, while Simplify controls 17.65% with $2.25B in AUM. From a flows perspective, ProShares dominated the week, raking in $170M in net inflows across its lineup. Meanwhile, First Trust experienced the heaviest withdrawals, seeing -$18M exit its Alternative products.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iM | 1 | $3.56B | 27.87% |
| Simplify | 4 | $2.25B | 17.65% |
| New York Life Investments | 2 | $1.23B | 9.66% |
| ProShares | 6 | $1.03B | 8.04% |
| Franklin | 1 | $0.90B | 7.03% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| Brand | 5-Day Flow |
|---|---|
| ProShares | $170M |
| iPath | $54M |
| iM | $23M |
| Outflows | |
| First Trust | -$18M |
| Volatility Shares | -$3M |
| Cambria | -$1M |
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.
