Weekly Channel Summary
The Synthetic Income ETF channel currently tracks 355 ETFs managed across 66 unique issuers, representing a massive total Assets Under Management (AUM) of $178 billion. Investor demand remains strong, with the channel capturing $1.94 billion in 5-day net flows. Looking at the longer term, the space has attracted $17.64 billion year-to-date and an impressive $71.76 billion over the trailing 1-year period.
This Week’s Performance Leaders and Laggards
The weekly performance landscape revealed a wide dispersion in returns, primarily driven by volatility in underlying commodity and crypto markets. While select oil and options-based strategies posted gains, silver and gold-focused income products suffered sharp declines.
Top & Bottom 5 ETFs by Weekly Performance
The Defiance Oil Enhanced Options Income ETF (USOY) led the pack this week with a stellar 8.07% week-to-date return. Conversely, the Nicholas Silver Income ETF (SLVX) and the Roundhill Gold Miners WeeklyPay ETF (GDXW) experienced the heaviest WTD losses, dropping -26.29% and -17.00%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| USOY | Defiance Oil Enhanced Options Income ETF | 8.07% |
| USOI | UBS AG ETRACS Crude Oil Shares Covered Call ETNs | 4.30% |
| ULTI | REX IncomeMax Option Strategy ETF | 2.52% |
| YETH | Roundhill Ether Covered Call Strategy ETF | 2.16% |
| YQQQ | YieldMax Short N100 Option Income Strategy ETF | 2.15% |
| Bottom Performers | ||
| SLVX | Nicholas Silver Income ETF | -26.29% |
| GDXW | Roundhill Gold Miners WeeklyPay ETF | -17.00% |
| KSLV | Kurv Silver Enhanced Income ETF | -15.97% |
| SLJY | Amplify SILJ Junior Silver Miners Covered Call ETF | -15.24% |
| YGLD | Simplify Gold Strategy PLUS Income ETF | -14.56% |
Analyzing the Weekly Flows
Net flows for the Synthetic Income channel surged to nearly $2 billion over the past five days. The Equity category accounted for the lion’s share, taking in a massive $1,637 million to boost its total AUM to $161.3 billion. Single Stock ETFs also saw robust interest with $166 million in new capital. In contrast, the Multi-Asset category was the only segment to experience net outflows, leaking a modest -$1 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Synthetic Income – Equity | 184 | $161,327M | $1,637M | $5,928M | $18,090M | $16,771M | $55,124M |
| Synthetic Income – Single Stock | 104 | $7,808M | $166M | $148M | -$822M | -$593M | $11,318M |
| Synthetic Income – Fixed Income | 21 | $5,067M | $67M | $205M | $489M | $448M | $1,742M |
| Synthetic Income – Commodity | 15 | $2,278M | $37M | $150M | $593M | $520M | $1,329M |
| Synthetic Income – Crypto | 22 | $1,440M | $37M | $86M | $393M | $309M | $2,021M |
| Synthetic Income – Multi-Asset | 5 | $369M | -$1M | $8M | $174M | $171M | $207M |
Top & Bottom 5 ETFs by 5-Day Flow
The NEOS Nasdaq 100 High Income ETF (QQQI) completely dominated the inflows with a massive $412 million gathered over just five days. On the other end of the spectrum, the YieldMax Gold Miners Option Income Strategy ETF (GDXY) and the YieldMax Target 12 Real Estate Option Income ETF (RNTY) led outflows, each shedding -$29 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| QQQI | NEOS Nasdaq 100 High Income ETF | $412M |
| SPYI | NEOS S&P 500 High Income ETF | $250M |
| JEPI | JPMorgan Equity Premium Income ETF | $213M |
| GPIQ | Goldman Sachs Nasdaq-100 Premium Income ETF | $185M |
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | $148M |
| Outflows | ||
| GDXY | YieldMax Gold Miners Option Income Strategy ETF | -$29M |
| RNTY | YieldMax Target 12 Real Estate Option Income ETF | -$29M |
| RDTY | YieldMax R2000 0DTE Covered Strategy ETF | -$15M |
| ULTY | YieldMax Ultra Option Income Strategy ETF | -$14M |
| CHPY | YieldMax Semiconductor Portfolio Option Income ETF | -$10M |
Issuer League Table Update
JPMorgan remains the undisputed heavyweight in the Synthetic Income space, controlling 43.77% of market share. Neos follows in second place with a 12.35% market share, but Neos successfully outpaced all competitors in recent momentum, gathering the highest 5-day inflows. None of the top 5 issuers by AUM suffered net outflows this week; however, further down the league table, GraniteShares and Overlay Shares faced the largest 5-day redemptions.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 3 | $78.04B | 43.77% |
| Neos | 18 | $22.02B | 12.35% |
| Global X | 16 | $13.00B | 7.29% |
| YieldMax | 62 | $9.07B | 5.09% |
| FT Vest | 11 | $8.31B | 4.66% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Neos | $749M |
| JPMorgan | $361M |
| Goldman Sachs | $305M |
| Outflows | |
| GraniteShares | -$7M |
| Overlay Shares | -$7M |
| STF | -$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.
