Weekly Channel Summary
The Alternative ETF channel presently encompasses $12.28 billion in total Assets Under Management (AUM) across 47 individual funds and 28 unique issuers. Over the past week, the space saw net positive flows of $47 million. This steady weekly influx builds upon a robust year-to-date (YTD) flow total of $1.77 billion and an impressive 1-year flow total of $4.69 billion, underscoring sustained investor appetite for alternative ETF strategies despite broader market fluctuations.
This Week’s Performance Leaders and Laggards
This week’s performance highlighted the stark inverse relationship inherent to the volatility products. The Alternative: Volatility – Long category rebounded sharply with a week-to-date (WTD) return of 3.06%, pushing its YTD standing up to 7.90%. Inversely, the Alternative: Volatility – Short category suffered the consequences of climbing volatility, dropping -1.14% WTD and sinking further into the red at -9.15% YTD. Within the absolute return spectrum, the Absolute Return – Managed Futures category led the pack, posting a strong 1.99% WTD gain to bring its YTD performance to an impressive 12.03%.
Absolute Return Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Absolute Return – Managed Futures | 1.99% | 3.44% | 7.21% | 13.35% | 12.03% | 23.29% |
| Absolute Return – Multi-Strategy | 1.15% | -0.08% | -1.98% | -1.14% | -0.06% | 11.56% |
| Absolute Return – Event Driven | 0.06% | 0.80% | 0.91% | 2.03% | 1.47% | 8.08% |
Volatility Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Alternative: Volatility – Long | 3.06% | -15.97% | 9.46% | -13.18% | 7.90% | -49.37% |
| Alternative: Volatility – Short | -1.14% | 6.74% | -9.07% | -2.01% | -9.15% | 29.27% |
Top & Bottom 5 ETFs by Weekly Performance
Looking at individual funds, the single best-performing ETF for the week was the Simplify Multi-QIS Alternative ETF (QIS), which surged an impressive 12.11%. Conversely, the two worst-performing ETFs were the -1x Short VIX Futures ETF (SVIX) dropping -3.00%, and the Opportunistic Trader ETF (WZRD), which fell -1.67%. Unsurprisingly, the bottom performer (SVIX) is a short volatility fund, reflecting the week’s broader category struggles.
| Top Performers | ||
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| QIS | Simplify Multi-QIS Alternative ETF | 12.11% |
| CTA | Simplify Managed Futures Strategy ETF | 6.68% |
| UVIX | 2x Long VIX Futures ETF | 5.67% |
| SCLS | Stoneport Advisors Commodity Long Short ETF | 4.52% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | 4.20% |
| Bottom Performers | ||
| Ticker | Fund Name | WTD Performance |
| SVIX | -1x Short VIX Futures ETF | -3.00% |
| WZRD | Opportunistic Trader ETF | -1.67% |
| SVXY | ProShares Short VIX Short-Term Futures ETF | -1.36% |
| ZVOL | Volatility Premium Plus ETF | -1.36% |
| FLSP | Franklin Systematic Style Premia ETF | -0.81% |
Analyzing the Weekly Flows
The channel attracted $47 million in net flows this week. The Alternative: Volatility – Long category received the most substantial inflows, bringing in $77 million. Given the category’s positive 3.06% WTD return, investors appear to be chasing recent momentum rather than executing a contrarian play. In stark contrast, the Alternative: Volatility – Short category saw the largest outflows at -$28 million, likely reflecting capitulation or profit-taking as the group broadly underperformed over the past 5 days. Within the Absolute Return segment, net flows were somewhat mixed; Multi-Strategy added $13 million, while both Managed Futures and Event Driven experienced modest outflows.
Absolute Return Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Absolute Return – Multi-Strategy | 11 | $2.1B | $13M | $71M | $169M | $176M | $395M |
| Absolute Return – Event Driven | 9 | $0.4B | -$4M | -$19M | -$21M | -$29M | -$1M |
| Absolute Return – Managed Futures | 16 | $6.8B | -$11M | $312M | $1,541M | $1,748M | $3,020M |
Volatility Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Alternative: Volatility – Long | 6 | $1.7B | $77M | $395M | -$150M | -$182M | $2,760M |
| Alternative: Volatility – Short | 5 | $1.2B | -$28M | -$90M | $112M | $61M | -$1,480M |
Top & Bottom 5 ETFs by 5-Day Flow
At the fund level, the top inflow leader was the iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX), a long volatility product that successfully gathered $57 million. This single-week haul represented a substantial 15.48% of its AUM. On the flip side, the top two ETFs for outflows were the -1x Short VIX Futures ETF (SVIX) and the ProShares Ultra VIX Short-Term Futures ETF (UVXY), each bleeding $28 million over the past five days.
| Inflows | ||
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | $57M |
| UVIX | 2x Long VIX Futures ETF | $31M |
| CTA | Simplify Managed Futures Strategy ETF | $25M |
| VIXY | ProShares VIX Short-Term Futures ETF | $18M |
| LALT | First Trust Multi-Strategy Alternative ETF | $6M |
| Outflows | ||
| Ticker | Fund Name | 5-Day Flow |
| SVIX | -1x Short VIX Futures ETF | -$28M |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | -$28M |
| DBMF | iMGP DBi Managed Futures Strategy ETF | -$25M |
| KMLM | KraneShares Mount Lucas Managed Futures Index Strategy ETF | -$23M |
| MNA | NYLI Merger Arbitrage ETF | -$4M |
Issuer League Table Update
In the issuer landscape, the top two providers by market share are iM, holding 28.75% of the market with $3.50 billion in AUM, and Simplify, which controls 18.53% with $2.26 billion. For the week, iPath successfully gathered the most in new assets, reeling in $57 million in inflows. Conversely, iM saw the largest outflows of the group, shedding $25 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iM | 1 | $3.50B | 28.75% |
| Simplify | 4 | $2.26B | 18.53% |
| New York Life Investments | 2 | $1.05B | 8.58% |
| ProShares | 6 | $0.96B | 7.89% |
| Volatility Shares | 3 | $0.77B | 6.34% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| Brand | 5-Day Flow |
|---|---|
| iPath | $57M |
| Simplify | $27M |
| First Trust | $9M |
| Outflows | |
| Brand | 5-Day Flow |
| iM | -$25M |
| KraneShares | -$23M |
| ProShares | -$11M |
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.
