Weekly Channel Summary
The Alternative ETF channel, which includes 45 ETFs from 27 issuers, concluded the week with $9.3 billion in total assets. The channel attracted significant investor interest, recording a net inflow of $124 million over the last five trading days. This positive momentum builds on a strong year, bringing the year-to-date total net inflow to $3.33 billion and the total for the past twelve months to $3.82 billion.
This Week’s Performance Leaders and Laggards
This week’s performance was defined by a stark and expected divergence between opposing volatility strategies. As designed, the “Alternative: Volatility – Short” category benefited from calmer conditions, posting a 2.98% gain, though it remains down 7.75% year-to-date. Conversely, the “Alternative: Volatility – Long” category struggled, declining 5.94% and deepening its year-to-date loss to -26.57%. Performance among “Absolute Return” strategies was mixed and more subdued, with Managed Futures leading that group with a modest 0.93% weekly gain.
Absolute Return Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Absolute Return – Managed Futures | 0.93% | 2.57% | 4.00% | 2.70% | 0.46% | 1.01% |
| Absolute Return – Multi-Strategy | 0.42% | 0.74% | 2.79% | 3.77% | 2.66% | 3.88% |
| Absolute Return – Event Driven | -0.01% | 0.60% | 1.25% | 4.85% | 6.37% | 7.65% |
Volatility Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Alternative: Volatility – Short | 2.98% | 7.24% | 17.68% | 6.11% | -7.75% | -9.52% |
| Alternative: Volatility – Long | -5.94% | -14.50% | -31.72% | -35.22% | -26.57% | -30.85% |
Top & Bottom 5 ETFs by Weekly Performance
Individual fund performance clearly reflected the broader category trends. The top performer was the -1x Short VIX Futures ETF (SVIX), which gained 5.49%. Conversely, leveraged long volatility funds suffered the most significant losses. The 2x Long VIX Futures ETF (UVIX) was the worst performer with a drop of 10.83%, while the ProShares Ultra VIX Short-Term Futures ETF (UVXY) fell 8.02%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| SVIX | -1x Short VIX Futures ETF | 5.49% |
| SVOL | Simplify Volatility Premium ETF | 3.16% |
| SVXY | ProShares Short VIX Short-Term Futures ETF | 2.81% |
| AHLT | American Beacon AHL Trend ETF | 2.49% |
| ZVOL | Volatility Premium Plus ETF | 2.33% |
| Bottom Performers | ||
| VIXY | ProShares VIX Short-Term Futures ETF | -5.36% |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -5.34% |
| WZRD | Opportunistic Trader ETF | -6.01% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | -8.02% |
| UVIX | 2x Long VIX Futures ETF | -10.83% |
Analyzing the Weekly Flows
Investor behavior contrasted with weekly performance, as the “Alternative: Volatility – Long” category, despite its poor showing, attracted the vast majority of new assets with $155 million in inflows. This suggests some investors may be buying the dip or positioning for future volatility. In contrast, the top-performing “Alternative: Volatility – Short” category saw outflows of $25 million, potentially indicating profit-taking. The “Absolute Return” strategies were quiet, seeing collective net outflows of just $6 million.
Absolute Return Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Absolute Return – Event Driven | 9 | $0.4B | ($1M) | ($15M) | $5M | ($21M) | ($62M) |
| Absolute Return – Multi-Strategy | 10 | $1.4B | ($2M) | ($12M) | ($24M) | $23M | $181M |
| Absolute Return – Managed Futures | 14 | $3.7B | ($3M) | $219M | $352M | $1,203M | $1,615M |
Volatility Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Alternative: Volatility – Long | 7 | $2.4B | $155M | $641M | $1,917M | $2,533M | $2,605M |
| Alternative: Volatility – Short | 5 | $1.3B | ($25M) | ($134M) | ($435M) | ($404M) | ($519M) |
Top & Bottom 5 ETFs by 5-Day Flow
The iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX), a long volatility fund, was the standout flows leader, single-handedly pulling in $125 million, which represents over 15% of its AUM. On the outflows side, the Simplify Volatility Premium ETF (SVOL), a short volatility fund, saw the largest withdrawal of $23 million, while the Simplify Managed Futures Strategy ETF (CTA) shed $5 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | $125M |
| UVIX | 2x Long VIX Futures ETF | $19M |
| VIXY | ProShares VIX Short-Term Futures ETF | $11M |
| DBMF | IMGP DBi Managed Futures Strategy ETF | $5M |
| FLSP | Franklin Systematic Style Premia ETF | $4M |
| Outflows | ||
| WZRD | Opportunistic Trader ETF | ($2M) |
| QIS | Simplify Multi-QIS Alternative ETF | ($2M) |
| SVXY | ProShares Short VIX Short-Term Futures ETF | ($2M) |
| CTA | Simplify Managed Futures Strategy ETF | ($5M) |
| SVOL | Simplify Volatility Premium ETF | ($23M) |
Issuer League Table Update
In the issuer landscape, Simplify maintains its lead with a 20.89% market share ($1.94B AUM), followed by iM with 15.47% ($1.44B AUM). This week’s flows champion was iPath, which attracted $125 million, driven entirely by its VXX fund. Among the top five issuers by AUM, Simplify experienced the largest net outflows, shedding $30 million over the past week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Simplify | 3 | $1.94B | 20.89% |
| iM | 1 | $1.44B | 15.47% |
| ProShares | 6 | $1.23B | 13.25% |
| New York Life Investments | 2 | $0.96B | 10.33% |
| iPath | 2 | $0.95B | 10.25% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iPath | $125M |
| Volatility Shares | $19M |
| ProShares | $9M |
| Outflows | |
| Virtus | ($2M) |
| Opportunistic | ($2M) |
| Simplify | ($30M) |
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.
