Weekly Channel Summary
The EQ: Specialty channel, encompassing 71 ETFs from 50 issuers, holds approximately $14B in total assets under management. The channel experienced minor positive net flows this past week, adding $0.01B. This continues a positive trend for the channel, which has seen $2.82B in year-to-date inflows and $3.52B in total inflows over the past year.
This Week’s Performance Leaders and Laggards
It was a slight down week for the channel, with both categories posting negative returns. The Equity: Specialty – Long | Short category performed better, finishing the week down -0.47%, while the Equity: Specialty – Hedged category lagged, posting a -1.14% return. Year-to-date, both categories remain solidly positive, with Hedged up 10.67% and Long | Short up 7.18%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Equity: Specialty – Long | Short | -0.47% | -0.15% | 2.58% | 7.51% | 7.18% | 4.53% |
| Equity: Specialty – Hedged | -1.14% | -0.22% | 4.58% | 12.90% | 10.67% | 8.29% |
Top & Bottom 5 ETFs by Weekly Performance
The week’s top-performing ETF was the AGF U.S. Market Neutral Anti-Beta Fund (BTAL), which gained 2.65%. On the other end of the spectrum, the LHA Market State Tactical Q ETF (MSTQ) was the worst performer with a -3.24% return, followed by the Unlimited HFEQ Equity Long/Short ETF (HFEQ), which fell -3.11%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | 2.65% |
| ORR | Militia Long/Short Equity ETF | 1.58% |
| MKTN | Federated Hermes MDT Market Neutral ETF | 1.00% |
| LBAY | Leatherback Long/Short Alternative Yield ETF | 0.99% |
| VAMO | Cambria Value & Momentum ETF | 0.88% |
| Bottom Performers | ||
| MSTQ | LHA Market State Tactical Q ETF | -3.24% |
| HFEQ | Unlimited HFEQ Equity Long/Short ETF | -3.11% |
| SPUC | Simplify US Equity PLUS Upside Convexity ETF | -3.06% |
| QTR | Global X NASDAQ 100 Tail Risk ETF | -2.92% |
| QGRD | Horizon Nasdaq-100 Defined Risk ETF | -2.77% |
Analyzing the Weekly Flows
The channel saw modest net inflows of $7M for the week. This was driven entirely by the Equity: Specialty – Hedged category, which pulled in $11M and has $9.9B in total AUM. The Equity: Specialty – Long | Short category experienced the largest outflows, shedding ($4M) over the same period.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Equity: Specialty – Hedged | 50 | $9.9B | $11M | $319M | $819M | $2,393M | $2,999M |
| Equity: Specialty – Long | Short | 20 | $3.7B | ($4M) | $74M | $181M | $429M | $523M |
Top & Bottom 5 ETFs by 5-Day Flow
At the fund level, the Fidelity Hedged Equity ETF (FHEQ) led inflows, gathering $19M. The largest outflows came from the JPMorgan Hedged Equity Laddered Overlay ETF (HELO) with ($30M) in redemptions, followed by the AGF U.S. Market Neutral Anti-Beta Fund (BTAL), which saw ($11M) in outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| FHEQ | Fidelity Hedged Equity ETF | $19M |
| HEQT | Simplify Hedged Equity ETF | $17M |
| CAOS | Alpha Architect Tail Risk ETF | $8M |
| HEGD | Swan Hedged Equity US Large Cap ETF | $6M |
| CLSE | Convergence Long/Short Equity ETF | $4M |
| Outflows | ||
| HELO | JPMorgan Hedged Equity Laddered Overlay ETF | ($30M) |
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | ($11M) |
| PRAE | PlanRock Alternative Growth ETF | ($9M) |
| QBER | TrueShares Quarterly Bear Hedge ETF | ($6M) |
| HEQQ | JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF | ($3M) |
Issuer League Table Update
JPMorgan (27.92%) and First Trust (15.45%) continue to dominate the channel, holding the top two spots for market share. In the past week, Fidelity led all issuers with $19M in new inflows. Conversely, JPMorgan, the largest issuer, also saw the largest weekly outflows, with a reduction of ($32M).
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 3 | $3.81B | 27.92% |
| First Trust | 1 | $2.11B | 15.45% |
| Simplify | 5 | $0.63B | 4.63% |
| Fidelity | 2 | $0.62B | 4.56% |
| Swan | 1 | $0.58B | 4.28% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Fidelity | $19M |
| Simplify | $17M |
| Alpha Architect | $8M |
| Outflows | |
| JPMorgan | -$32M |
| AGF | -$11M |
| PlanRock | -$9M |
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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.
