Weekly Channel Summary
The EQ: Specialty channel currently oversees $15.2B in total assets across 79 ETFs from 54 issuers. For the week ending March 27, 2026, the channel experienced a slight net outflow of $6M. Despite this weekly dip, the segment remains on strong footing for the year, with Year-to-Date (YTD) net inflows totaling $1.15B and a trailing one-year flow of $3.46B.
This Week’s Performance Leaders and Laggards
Performance was broadly negative across the specialty landscape this week. The Equity: Specialty – Long | Short category was the top performer, relatively speaking, with a modest -0.53% return, leaving it nearly flat for the year at -0.03%. Conversely, the Equity: Specialty – Hedged category was the primary laggard, falling -1.21% on the week and pushing its YTD decline to -4.05%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Equity: Specialty – Long | Short | -0.53% | -3.89% | -0.71% | 0.32% | -0.03% | 9.47% |
| Equity: Specialty – Hedged | -1.21% | -5.59% | -5.07% | -2.12% | -4.05% | 10.38% |
Top & Bottom 5 ETFs by Weekly Performance
On an individual basis, the LBAY (Leatherback Long/Short Alternative Yield ETF) was the single best-performing fund this week, gaining +5.92%. On the downside, the NLSI (NEOS Long/Short Equity Income ETF) and AINT (FINQ DOLLAR NEUTRAL U.S. Large Cap AI-Managed Equity ETF) were the worst performers, falling -6.28% and -4.50%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| LBAY | Leatherback Long/Short Alternative Yield ETF | 5.92% |
| LSEQ | Harbor Long-Short Equity ETF | 4.42% |
| VAMO | Cambria Value & Momentum ETF | 3.22% |
| HELS | Hedgeye 130/30 Equity ETF | 2.63% |
| HEFT | Hedgeye Fourth Turning ETF | 1.62% |
| Bottom Performers | ||
| NLSI | NEOS Long/Short Equity Income ETF | -6.28% |
| AINT | FINQ DOLLAR NEUTRAL U.S. Large Cap AI-Managed Equity ETF | -4.50% |
| WTLS | WisdomTree Efficient Long/Short U.S. Equity Fund | -4.12% |
| HFSP | TradersAI Large Cap Equity & Cash ETF | -3.47% |
| HBTA | Horizon Expedition Plus ETF | -3.24% |
Analyzing the Weekly Flows
The channel saw a total net flow of -$6M this past week. The Equity: Specialty – Long | Short category managed to hold its own with flat net flows ($0M) on $4.6B in AUM. All of the weekly outflows were concentrated in the Equity: Specialty – Hedged category, which lost $6M despite maintaining the largest share of channel assets ($10.6B).
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Equity: Specialty – Long | Short | 27 | $4.6B | $0M | $79M | $666M | $657M | $958M |
| Equity: Specialty – Hedged | 52 | $10.6B | ($6M) | ($3M) | $622M | $493M | $2,502M |
Top & Bottom 5 ETFs by 5-Day Flow
The CAOS (Alpha Architect Tail Risk ETF) led all funds in dollar inflows this week, bringing in $27M. Significant outflows were seen in the QBER (TrueShares Quarterly Bear Hedge ETF) and the ORR (Militia Long/Short Equity ETF), which lost $31M and $17M, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| CAOS | Alpha Architect Tail Risk ETF | $27M |
| CLSE | Convergence Long/Short Equity ETF | $9M |
| IALT | iShares Systematic Alternatives Active ETF | $6M |
| FTLS | First Trust Long/Short Equity ETF | $3M |
| FHEQ | Fidelity Hedged Equity ETF | $3M |
| Outflows | ||
| QBER | TrueShares Quarterly Bear Hedge ETF | ($31M) |
| ORR | Militia Long/Short Equity ETF | ($17M) |
| KSPY | KraneShares Hedgeye Hedged Equity Index ETF | ($5M) |
| HELO | JPMorgan Hedged Equity Laddered Overlay ETF | ($3M) |
| HTUS | Capitol Series Trust – Hull Tactical US ETF | ($3M) |
Issuer League Table Update
JPMorgan remains the dominant force in the EQ: Specialty channel with a 26.75% market share, followed by First Trust at 14.14%. Alpha Architect was the clear leader for issuer inflows this week, capturing $27M. In contrast, TrueShares saw the largest brand-level outflows, losing $31M over the 5-day period.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 3 | $4.05B | 26.75% |
| First Trust | 1 | $2.14B | 14.14% |
| Fidelity | 2 | $0.84B | 5.52% |
| Alpha Architect | 2 | $0.68B | 4.48% |
| Simplify | 5 | $0.61B | 4.00% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Alpha Architect | $27M |
| Convergence | $9M |
| iShares | $6M |
| Outflows | |
| TrueShares | ($31M) |
| Militia | ($17M) |
| KraneShares | ($5M) |
For a deeper dive into these trends, access our FREE, in-depth 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.
