Weekly Channel Summary
The Alternative ETF channel, comprising 47 funds across 29 issuers, manages a total of $10 billion in assets. For the week ending December 5, 2025, the channel attracted $143 million in net inflows, a significant reversal from the $199 million in outflows seen over the trailing 30-day period. This recent capital injection brings the Year-To-Date (YTD) flow total to $3.8 billion, reinforcing a strong year for alternative strategies despite recent monthly volatility.
This Week’s Performance Leaders and Laggards
Performance this week was defined by the sharp divergence between volatility strategies. “Volatility – Short” funds capitalized on market conditions to return 1.89%, helping to pare down their YTD loss to -6.57%. Conversely, “Volatility – Long” strategies struggled, dropping -4.69% for the week, extending their deep YTD decline. Among the Absolute Return segments, “Absolute Return – Multi-Strategy” led the pack with a modest 0.49% gain, while Managed Futures dipped slightly into negative territory.
Absolute Return Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Absolute Return – Multi-Strategy | 0.49% | -1.39% | 1.59% | 1.13% | 2.68% | 1.13% |
| Absolute Return – Event Driven | 0.04% | 0.13% | 2.22% | 3.93% | 8.72% | 9.04% |
| Absolute Return – Managed Futures | -0.10% | 1.81% | 4.63% | 8.32% | 3.96% | 5.17% |
Volatility Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Alternative: Volatility – Short | 1.89% | 3.30% | 4.47% | -12.65% | -6.57% | -12.65% |
| Alternative: Volatility – Long | -4.69% | -9.33% | -15.63% | -38.72% | -31.73% | -28.24% |
Top & Bottom 5 ETFs by Weekly Performance
The single best performer this week was the WZRD (Opportunistic Trader ETF), delivering an impressive 11.88% return. It was followed by the SVIX, a short volatility fund, which gained 4.42%. On the downside, long volatility products suffered the most, with the UVIX dropping -8.81% and QIS falling -7.23%, reflecting the painful drag on long vol strategies this week.
| Top Performers | ||
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| WZRD | Opportunistic Trader ETF | 11.88% |
| SVIX | -1x Short VIX Futures ETF | 4.42% |
| ZVOL | Volatility Premium Plus ETF | 2.40% |
| SVXY | ProShares Short VIX Short-Term Futures ETF | 2.22% |
| FAAR | First Trust Alternative Absolute Return Strategy ETF | 1.19% |
| Bottom Performers | ||
| UVIX | 2x Long VIX Futures ETF | -8.81% |
| QIS | Simplify Multi-QIS Alternative ETF | -7.23% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | -6.34% |
| VIXI | Defiance Enhanced Long Vol ETF | -4.65% |
| VIXY | ProShares VIX Short-Term Futures ETF | -4.24% |
Analyzing the Weekly Flows
The channel saw $143 million in total net inflows this week, driven by a notably contrarian move in the “Volatility – Long” category. Despite being the worst-performing segment, investors poured in $135 million, suggesting a significant hedging appetite or “buy the dip” mentality. Conversely, “Volatility – Short” funds saw outflows of $31 million, hinting at profit-taking after strong performance. Within the Absolute Return space, “Managed Futures” remained a bright spot, gathering $38 million in new assets.
Absolute Return Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Absolute Return – Managed Futures | 15 | $4.4B | $38M | $79M | $556M | $1,756M | $1,997M |
| Absolute Return – Multi-Strategy | 11 | $1.9B | $1M | $11M | $287M | $295M | $444M |
| Absolute Return – Event Driven | 9 | $0.5B | $1M | $4M | $10M | ($11M) | ($12M) |
Volatility Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Alternative: Volatility – Long | 7 | $1.9B | $135M | ($271M) | ($297M) | $2,241M | $1,723M |
| Alternative: Volatility – Short | 5 | $1.3B | ($31M) | ($23M) | ($96M) | ($480M) | ($422M) |
Top & Bottom 5 ETFs by 5-Day Flow
The UVIX (2x Long VIX Futures ETF) was the undisputed leader in inflows, gathering $99 million—a remarkable 30.6% of its AUM in a single week despite poor performance. In contrast, the SVIX (-1x Short VIX Futures ETF) saw the largest exodus, shedding $29 million, or over 10% of its assets. SVOL also saw minor outflows of $2 million.
| Inflows | ||
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| UVIX | 2x Long VIX Futures ETF | $99M |
| DBMF | IMGP DBi Managed Futures Strategy ETF | $39M |
| VIXY | ProShares VIX Short-Term Futures ETF | $19M |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | $9M |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | $7M |
| Outflows | ||
| SVIX | -1x Short VIX Futures ETF | ($29M) |
| SVOL | Simplify Volatility Premium ETF | ($2M) |
| WTMF | WisdomTree Managed Futures Strategy Fund | ($2M) |
| IMF | Invesco Managed Futures Strategy ETF | ($2M) |
| HDG | ProShares Hedge Replication ETF | ($1M) |
Issuer League Table Update
iM and Simplify continue to dominate the Alternative landscape, holding 20.32% ($2.01B) and 18.86% ($1.87B) of the market share, respectively. Volatility Shares was the standout winner for flows this week, gathering $70 million, while Simplify and WisdomTree sat at the bottom with slight outflows of around $2 million each.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iM | 1 | $2.01B | 20.32% |
| Simplify | 3 | $1.87B | 18.86% |
| New York Life Investments | 2 | $1.08B | 10.96% |
| ProShares | 6 | $1.00B | 10.14% |
| iPath | 2 | $0.71B | 7.22% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| Brand | 5-Day Flow |
|---|---|
| Volatility Shares | $70M |
| iM | $39M |
| ProShares | $26M |
| Outflows | |
| Simplify | ($2M) |
| WisdomTree | ($2M) |
| Invesco | ($2M) |
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.
