Weekly Channel Summary
The Synthetic Income ETF channel continues its impressive growth trajectory, with total assets under management reaching $180 billion across 347 ETFs and 66 brands. Investor demand for option-overlay strategies remains high, as evidenced by a 5-day net inflow of $1.76 billion. This brings the year-to-date flows to $14.25 billion, while the 1-year trailing flow stands at a substantial $69.79 billion. Innovation remains active in the space, with 29 new launches occurring in just the past three months.
This Week’s Performance Leaders and Laggards
Performance across the Synthetic Income landscape was highly polarized this week, dictated by sharp movements in underlying commodity and digital asset markets. Energy-linked strategies and specific technology sub-sectors provided points of strength, while precious metals mining strategies experienced a significant correction following a period of strong year-to-date performance.
Top & Bottom 5 ETFs by Weekly Performance
The top performer for the week was the Defiance Oil Enhanced Options Income ETF (USOY), which posted a return of 7.23%. On the other end of the spectrum, the Roundhill Gold Miners WeeklyPay ETF (GDXW) and the Amplify SILJ Junior Silver Miners Covered Call ETF (SLJY) led the laggards with weekly declines of -15.08% and -12.16%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| USOY | Defiance Oil Enhanced Options Income ETF | 7.23% |
| HAKY | Amplify HACK Cybersecurity Covered Call ETF | 5.82% |
| BITK | Tuttle Capital Bitcoin 0DTE Covered Call ETF | 4.99% |
| BAGY | Amplify Bitcoin Max Income Covered Call ETF | 4.72% |
| YETH | Roundhill Ether Covered Call Strategy ETF | 4.62% |
| Bottom Performers | ||
| GDXW | Roundhill Gold Miners WeeklyPay ETF | -15.08% |
| SLJY | Amplify SILJ Junior Silver Miners Covered Call ETF | -12.16% |
| GDXY | YieldMax Gold Miners Option Income Strategy ETF | -10.98% |
| KSLV | Kurv Silver Enhanced Income ETF | -10.98% |
| KCOP | Kurv Copper & Mining Enhanced Income ETF | -10.58% |
Analyzing the Weekly Flows
Total net flow for the channel reached $1.76 billion this week. The Synthetic Income – Equity category was the overwhelming favorite, capturing $1,666 million in new capital, further cementing its role as the anchor of the channel with $162.9 billion in total AUM. Fixed Income strategies followed with $57 million in inflows. Conversely, Single Stock-based synthetic income strategies experienced a slight rotation out, with net outflows of $27 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day Flow | YTD Flow |
|---|---|---|---|---|
| Synthetic Income – Equity | 175 | $162,883M | $1,666M | $13,843M |
| Synthetic Income – Fixed Income | 21 | $5,042M | $57M | $341M |
| Synthetic Income – Commodity | 13 | $2,275M | $39M | $445M |
| Synthetic Income – Crypto | 22 | $1,410M | $18M | $252M |
| Synthetic Income – Multi-Asset | 5 | $375M | $7M | $172M |
| Synthetic Income – Single Stock | 104 | $7,812M | ($27M) | ($818M) |
Top & Bottom 5 ETFs by 5-Day Flow
JPMorgan Equity Premium Income ETF (JEPI) continues its dominant streak, leading the channel with $308 million in weekly inflows. On the opposite side, the YieldMax Bitcoin Option Income Strategy ETF (YBIT) and the YieldMax Innovation Option Income Strategy ETF (OARK) were the primary laggards, both seeing redemptions of $12 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| JEPI | JPMorgan Equity Premium Income ETF | $308M |
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | $269M |
| QQQI | NEOS Nasdaq 100 High Income ETF | $138M |
| SPYI | NEOS S&P 500 High Income ETF | $121M |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | $90M |
| Outflows | ||
| YBIT | YieldMax Bitcoin Option Income Strategy ETF | ($12M) |
| OARK | YieldMax Innovation Option Income Strategy ETF | ($12M) |
| YMAX | YieldMax Universe Fund of Option Income ETFs | ($10M) |
| AIPI | REX AI Equity Premium Income ETF | ($7M) |
| BUCK | Simplify Treasury Option Income ETF | ($5M) |
Issuer League Table Update
JPMorgan remains the market share leader by a wide margin, controlling 43.96% ($79.04B) of the channel. Neos holds the second spot with 12.11% market share and has demonstrated significant momentum over the past year. JPMorgan also led all issuers in weekly capital gathering with $580 million in net flows. Among top issuers, Simplify saw the most notable negative movement, with $9 million in weekly outflows.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 3 | $79.04B | 43.96% |
| Neos | 18 | $21.77B | 12.11% |
| Global X | 16 | $13.30B | 7.40% |
| YieldMax | 60 | $9.11B | 5.07% |
| FT Vest | 11 | $8.59B | 4.78% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| JPMorgan | $580M |
| Neos | $402M |
| Goldman Sachs | $133M |
| Outflows | |
| Simplify | ($9M) |
| ProShares | ($6M) |
| Tuttle Capital | ($2M) |
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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.
