Weekly Channel Summary
The EQ: Specialty channel closed the week with a total AUM of $13.6B across 68 ETFs from 49 different issuers. The channel experienced minor outflows of $21M over the past week, bringing Year-to-Date net flows to $2.81B. Over the past year, the channel has gathered $3.46B in net new assets.
This Week’s Performance Leaders and Laggards
This week saw a split in performance, with the Equity: Specialty – Hedged category posting a slight gain of 0.07% WTD, contributing to its strong 10.82% YTD return. Conversely, the Equity: Specialty – Long | Short category lagged, dipping -0.07% for the week, and remains up 3.40% Year-to-Date.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Equity: Specialty – Hedged | 0.07% | 0.54% | 3.57% | 10.26% | 10.82% | 9.00% |
| Equity: Specialty – Long | Short | -0.07% | -0.08% | 0.90% | 4.17% | 3.40% | 1.68% |
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing ETF this week was the ORR (Militia Long/Short Equity ETF), which gained 2.50%. On the other end of the spectrum, the HFSP (TradersAl Large Cap Equity & Cash ETF) was the worst performer with a -4.44% return, followed by the CBLS (Clough Hedged Equity ETF) which fell -2.98%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| ORR | Militia Long/Short Equity ETF | 2.50% |
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | 2.28% |
| LBAY | Leatherback Long/Short Alternative Yield ETF | 2.23% |
| SHRT | Gotham Short Strategies ETF | 2.04% |
| CCOR | Core Alternative ETF | 1.59% |
| Bottom Performers | ||
| HFSP | TradersAl Large Cap Equity & Cash ETF | -4.44% |
| CBLS | Clough Hedged Equity ETF | -2.98% |
| CTEF | Castellan Targeted Equity ETF | -2.37% |
| EHLS | Even Herd Long Short ETF | -1.25% |
| VAMO | Cambria Value & Momentum ETF | -0.99% |
Analyzing the Weekly Flows
The EQ: Specialty channel saw net outflows of $21M this past week. Both categories experienced net withdrawals, with the ‘Equity: Specialty – Hedged’ category seeing the largest outflows at -$17M from its $9.8B AUM base. The ‘Equity: Specialty – Long | Short’ category saw a smaller net outflow of $4M.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Equity: Specialty – Long | Short | 20 | $3.7B | ($4M) | $62M | $149M | $425M | $512M |
| Equity: Specialty – Hedged | 48 | $9.8B | ($17M) | $229M | $736M | $2,382M | $2,951M |
Top & Bottom 5 ETFs by 5-Day Flow
Despite the net negative flows at the category level, some individual ETFs saw inflows. The FTLS (First Trust Long/Short Equity ETF) led the pack, gathering $7M. The largest outflows were shared by two funds, the BTAL (AGF U.S. Market Neutral Anti-Beta Fund) and the HOLA (JPMorgan International Hedged Equity Laddered Overlay ETF), which both shed $11M.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| FTLS | First Trust Long/Short Equity ETF | $7M |
| HEGD | Swan Hedged Equity US Large Cap ETF | $6M |
| CLSE | Convergence Long/Short Equity ETF | $5M |
| FHEQ | Fidelity Hedged Equity ETF | $2M |
| KSPY | KraneShares Hedgeye Hedged Equity Index ETF | $1M |
| Outflows | ||
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | ($11M) |
| HOLA | JPMorgan International Hedged Equity Laddered Overlay ETF | ($11M) |
| PRAE | PlanRock Alternative Growth ETF | ($10M) |
| HELO | JPMorgan Hedged Equity Laddered Overlay ETF | ($5M) |
| CTEF | Castellan Targeted Equity ETF | ($5M) |
Issuer League Table Update
JPMorgan and First Trust continue to dominate the issuer landscape, holding the top two spots with 27.93% and 15.50% of the channel’s AUM, respectively. This week, First Trust was the top asset gatherer among all issuers, pulling in $7M. In contrast, JPMorgan, the largest issuer, saw the most significant outflows, shedding $16M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 3 | $3.81B | 27.93% |
| First Trust | 1 | $2.11B | 15.50% |
| Simplify | 5 | $0.63B | 4.62% |
| Fidelity | 2 | $0.62B | 4.53% |
| Swan | 1 | $0.59B | 4.32% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| First Trust | $7M |
| Swan | $6M |
| Convergence | $5M |
| Outflows | |
| JPMorgan | -$16M |
| AGF | -$11M |
| PlanRock | -$10M |
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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.
