Weekly Channel Summary
The Synthetic Income channel, comprising 418 ETFs from 78 issuers, holds total assets of $220.24 billion. This week, the channel attracted over $2.1 billion in net inflows, contributing to a robust year-to-date total of $52.9 billion. Over the past year, investors have allocated nearly $75 billion in net new assets to these strategies.
This Week’s Performance Leaders and Laggards
Performance was sharply divided across Synthetic Income categories this week, led by a significant rally in Crypto-focused funds. The Crypto category surged by 16.19%, a stark contrast to its negative year-to-date and one-year returns. Conversely, the channel’s largest category, Equity, experienced a modest decline of 0.73%, while Multi-Asset strategies also finished in the red.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Crypto | 16.19% | 12.00% | -4.52% | 9.27% | -14.91% | -31.38% |
| Single Stock | 5.88% | 7.72% | 3.33% | 20.58% | 14.40% | 23.29% |
| Commodity | 4.28% | 10.65% | -1.91% | -2.85% | 9.74% | 30.47% |
| Fixed Income | 0.01% | -0.17% | 0.31% | -0.33% | 1.32% | 4.51% |
| Equity | -0.73% | 2.06% | 3.68% | 7.53% | 10.37% | 18.56% |
| Multi-Asset | -0.77% | 0.69% | 1.40% | 5.10% | 6.31% | 17.16% |
Top & Bottom 5 ETFs by Weekly Performance
Individual fund returns showed extreme dispersion, driven by the volatility in cryptocurrency markets. The Simplify Bitcoin Strategy ETF (MAXI) delivered a staggering 54.83% gain, leading a sweep of the top five performance spots by crypto-linked income funds. On the other end of the spectrum, the NestYield Dynamic Income ETF (EGGY) was the week’s worst performer, declining by 7.80%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| MAXI | Simplify Bitcoin Strategy ETF | 54.83% |
| XBCI | NEOS Boosted Bitcoin High Income ETF | 25.22% |
| NEHI | NEOS Ethereum High Income ETF | 20.60% |
| BPI | Grayscale Bitcoin Premium Income ETF | 18.93% |
| YBIT | YieldMax Bitcoin Option Income Strategy ETF | 18.09% |
| Bottom Performers | ||
| EGGY | NestYield Dynamic Income ETF | -7.80% |
| EGGQ | NestYield Visionary ETF | -7.59% |
| EGGS | NestYield Total Return Guard ETF | -7.29% |
| SPCI | Tuttle Capital Space Industry Income Blast ETF | -7.28% |
| SOXY | YieldMax Target 12 Semiconductor Option Income ETF | -5.11% |
Analyzing the Weekly Flows
Investors poured a net $2.14 billion into the Synthetic Income channel over the past week. Equity strategies were the primary destination for new capital, capturing nearly all of the channel’s net intake with $2.1 billion in positive flows. All other categories also saw modest inflows, with the exception of Single Stock funds. This category was the only one to experience net redemptions, shedding $85 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Equity | 234 | $201.86B | $2,099M | $7,287M | $20,058M | $48,205M | $64,408M |
| Commodity | 17 | $2.54B | $52M | $186M | $456M | $1,189M | $1,774M |
| Fixed Income | 25 | $6.05B | $48M | $248M | $633M | $1,546M | $2,462M |
| Crypto | 22 | $1.84B | $16M | $83M | $290M | $966M | $1,859M |
| Multi-Asset | 6 | $492M | $7M | $14M | $56M | $272M | $288M |
| Single Stock | 114 | $7.46B | -$85M | $199M | $787M | $680M | $4,111M |
Top & Bottom 5 ETFs by 5-Day Flow
The NEOS Nasdaq 100 High Income ETF (QQQI) was the week’s most popular fund, attracting a substantial $440 million in new assets. Its counterpart, the NEOS S&P 500 High Income ETF (SPYI), also saw strong demand, pulling in $212 million. In contrast, the YieldMax MRNA Option Income Strategy ETF (MRNY) saw the largest redemptions at $109 million, followed by the iShares U.S. Large Cap Premium Income Active ETF (BALI) with $51 million in outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| QQQI | NEOS Nasdaq 100 High Income ETF | $440M |
| SPYI | NEOS S&P 500 High Income ETF | $212M |
| DIVO | Amplify CWP Enhanced Dividend Income ETF | $164M |
| ROCY | JPMorgan Equity Premium Yield ETF | $130M |
| JEPI | JPMorgan Equity Premium Income ETF | $126M |
| Outflows | ||
| MRNY | YieldMax MRNA Option Income Strategy ETF | -$109M |
| BALI | iShares U.S. Large Cap Premium Income Active ETF | -$51M |
| APLY | YieldMax AAPL Option Income Strategy ETF | -$24M |
| CONY | YieldMax COIN Option Income Strategy ETF | -$17M |
| HOOY | YieldMax HOOD Option Income Strategy ETF | -$15M |
Issuer League Table Update
JPMorgan maintains its commanding lead in the Synthetic Income space, controlling over 40% of the market’s assets, with Neos holding the second position at a 15% share. Neos, however, led all issuers in weekly fundraising, bringing in an impressive $821 million in net new assets. JPMorgan also had a strong week, adding $296 million. On the other hand, iShares recorded the largest net outflows among issuers for the week, with $46 million in redemptions.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 5 | $88.59B | 40.22% |
| Neos | 18 | $33.24B | 15.09% |
| Global X | 17 | $13.61B | 6.18% |
| Goldman Sachs | 2 | $10.93B | 4.96% |
| FT Vest | 21 | $10.32B | 4.69% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Neos | $821M |
| JPMorgan | $296M |
| Goldman Sachs | $192M |
| Outflows | |
| iShares | -$46M |
| ProShares | -$7M |
| GraniteShares | -$5M |
For a deeper dive into these trends, access our FREE, in-depth Synthetic Income 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.
