Weekly Channel Summary
As of February 6, 2026, the Thematic ETF channel encompasses 408 ETFs managed by 103 brands, representing a massive $310B in assets under management (AUM). The channel saw a net weekly inflow of $192M, continuing a trend of strong investor appetite that has driven $17.47B in year-to-date (YTD) flows and a staggering $65.12B over the past 12 months. While short-term volatility affected several tech-heavy segments, the long-term momentum in the space remains robust as thematic investing continues to mature.
This Week’s Performance Leaders and Laggards
It was a divided week for thematic performance. Infrastructure led the way with a 2.95% weekly return, bolstered by industrial reshoring and green electrification trends. Conversely, FinTech was the primary laggard, dropping -8.38%, a sharp contrast to its otherwise positive one-year growth. Year-to-date, Precious Metals and Natural Resources remain the standout performers with gains of 13.08% and 12.43%, respectively.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Infrastructure | 2.95% | 6.98% | 10.35% | 17.86% | 10.11% | 29.52% |
| Midstream & MLPs | 1.84% | 10.46% | 12.19% | 10.02% | 9.22% | 8.22% |
| Sustainability | 1.62% | 5.51% | 6.79% | 31.56% | 10.25% | 48.68% |
| Precious Metals | 0.87% | 5.86% | 46.28% | 86.89% | 13.08% | 159.11% |
| Industrial Revolution | -0.26% | 1.45% | 9.76% | 21.44% | 8.09% | 35.13% |
| Natural Resources | -0.56% | 5.43% | 23.28% | 41.75% | 12.43% | 60.07% |
| Health Innovation | -1.93% | -2.00% | 8.95% | 28.07% | 0.15% | 18.30% |
| Multi-Sector | -1.94% | -4.27% | -0.56% | 7.08% | -0.23% | 13.16% |
| Evolving Consumer | -2.13% | -6.65% | -3.73% | -1.44% | -5.36% | 4.69% |
| Disruptive Tech | -3.71% | -6.79% | -6.19% | 2.82% | -3.71% | 8.72% |
| Alternative Equity | -4.96% | -8.41% | -1.70% | -9.77% | -6.06% | -10.39% |
| FinTech | -8.38% | -13.78% | -20.41% | -3.89% | -5.47% | 6.97% |
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing fund this week was the RSHO (Tema American Reshoring ETF), which surged +9.81%. On the downside, crypto-centric funds faced significant headwinds, with CRPT (First Trust SkyBridge Crypto Industry & Digital Economy ETF) and URNJ (Sprott Junior Uranium Miners ETF) falling -15.86% and -15.42%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| RSHO | Tema American Reshoring ETF | 9.81% |
| PKB | Invesco Building & Construction ETF | 8.39% |
| HWAY | Themes US Infrastructure ETF | 8.26% |
| XHB | State Street SPDR S&P Homebuilders ETF | 8.20% |
| PAVE | Global X U.S. Infrastructure Development ETF | 7.83% |
| Bottom Performers | ||
| CRPT | First Trust SkyBridge Crypto Industry & Digital Economy ETF | -15.86% |
| URNJ | Sprott Junior Uranium Miners ETF | -15.42% |
| OWNB | Bitwise Bitcoin Standard Corporations ETF | -13.03% |
| URNM | Sprott Uranium Miners ETF | -11.76% |
| SATO | Invesco Alerian Galaxy Crypto Economy ETF | -11.64% |
Analyzing the Weekly Flows
The Thematic channel pulled in $192M in net new money this past week. The Natural Resources category was the clear favorite among investors, capturing $662M in weekly inflows to bring its total AUM to $55.5B. Other notable interest was seen in Thematic Multi-Sector, which added $385M. On the flip side, Disruptive Tech faced the largest rotation out of the segment, with -$628M in weekly outflows.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Natural Resources | 56 | $55.5B | $662M | $6,873M | $7,132M | $12,886M |
| Multi-Sector | 43 | $26.2B | $385M | $799M | $624M | $8,230M |
| Precious Metals | 15 | $56.5B | $350M | $2,765M | $2,882M | $3,820M |
| Sustainability | 27 | $7.4B | $62M | $353M | $371M | $868M |
| Midstream & MLPs | 17 | $23.5B | $43M | $204M | $188M | $1,419M |
| Health Innovation | 23 | $2.3B | $18M | $131M | $133M | $91M |
| Industrial Revolution | 37 | $18.9B | $1M | $2,458M | $2,588M | $7,686M |
| Alternative Equity | 9 | $2.2B | $0M | $33M | $34M | $672M |
| Evolving Consumer | 46 | $14.7B | ($60M) | ($104M) | ($160M) | ($2,317M) |
| FinTech | 26 | $4.0B | ($304M) | ($157M) | ($142M) | $218M |
| Infrastructure | 42 | $47.6B | ($338M) | $2,020M | $2,384M | $11,284M |
| Disruptive Tech | 63 | $51.1B | ($628M) | $1,373M | $1,398M | $20,228M |
Top & Bottom 5 ETFs by 5-Day Flow
The GDX (VanEck Gold Miners ETF) dominated the leaderboard for inflows, bringing in $774M. On the other end of the spectrum, Global X’s PAVE (U.S. Infrastructure Development ETF) and AIQ (Artificial Intelligence & Technology ETF) saw the largest redemptions of -$650M and -$467M, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| GDX | VanEck Gold Miners ETF | $774M |
| COPX | Global X Copper Miners ETF | $369M |
| XOVR | ERShares Private-Public Crossover ETF | $304M |
| AIRR | First Trust RBA American Industrial Renaissance ETF | $159M |
| GRID | First Trust Nasdaq Clean Edge Smart GRID ETF | $158M |
| Outflows | ||
| PAVE | Global X U.S. Infrastructure Development ETF | ($650M) |
| AIQ | Global X Artificial Intelligence & Technology ETF | ($467M) |
| GDXJ | VanEck Junior Gold Miners ETF | ($244M) |
| MAGS | Roundhill Magnificent Seven ETF | ($206M) |
| SIL | Global X Silver Miners ETF | ($165M) |
Issuer League Table Update
Global X remains the dominant force in the Thematic space with a 19.33% market share, followed by iShares at 16.00%. This week, VanEck led the issuer league table in gathering assets, securing $544M in net weekly flows. Conversely, the market leader Global X saw the largest rotation out, with -$1,079M in 5-day outflows as investors shifted away from heavy tech and infrastructure positions.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Global X | 36 | $59.92B | 19.33% |
| iShares | 33 | $49.61B | 16.00% |
| VanEck | 18 | $49.53B | 15.97% |
| First Trust | 30 | $41.22B | 13.29% |
| ARK | 7 | $12.10B | 3.90% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| VanEck | $544M |
| First Trust | $366M |
| ERShares | $304M |
| Outflows | |
| Global X | ($1,079M) |
| Roundhill | ($210M) |
| ARK | ($142M) |
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.
