Weekly Channel Summary
The Thematic channel ended the week with $369.61B in total AUM spread across 496 ETFs from 119 issuers. Net flows were negative over the trailing five days at -$1,621M, though the channel remains firmly positive with $74,779M gathered year-to-date and $87,475M over the trailing one-year period. The gap between the recent weekly outflow and the robust longer-term trends underscores a short-term pullback within a broader, still-strong uptrend for thematic exposure.
This Week’s Performance Leaders and Laggards
Health Innovation led all categories on the week with a 3.12% gain, extending an already strong YTD advance of 47.21% and a one-year return of 45.93%. Disruptive Tech followed with a 1.94% weekly return, also posting standout longer-term numbers at 31.42% YTD. On the opposite end, Precious Metals was the week’s weakest category, falling 9.07%, while Sustainability and Natural Resources also lagged with declines of 2.44% and 3.25%, respectively. Within Disruptive Tech, cybersecurity names stood out, with WCBR topping the fund list at 12.70% for the week, closely trailed by BUG at 12.61%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Health Innovation | 3.12% | -3.94% | 16.09% | 42.24% | 47.21% | 45.93% |
| Disruptive Tech | 1.94% | -8.91% | 2.48% | 26.43% | 31.42% | 26.07% |
| Midstream & MLPs | 1.15% | 0.85% | -1.72% | 5.50% | 21.32% | 24.18% |
| Evolving Consumer | 0.70% | -3.00% | 2.11% | 0.17% | -1.63% | -5.89% |
| Alternative Equity | 0.30% | -3.82% | -0.10% | -2.16% | -9.91% | -7.69% |
| Industrial Revolution | 0.11% | -5.61% | -3.68% | -10.53% | -1.58% | -4.12% |
| Multi-Sector | -0.14% | -5.38% | 2.25% | 6.14% | 12.02% | 8.84% |
| Infrastructure | -1.75% | -3.92% | -10.10% | -9.79% | 7.11% | 7.06% |
| FinTech | -2.07% | -17.01% | -8.99% | -9.91% | -6.69% | -24.83% |
| Sustainability | -2.44% | -9.37% | -15.22% | -20.27% | -4.58% | -4.72% |
| Natural Resources | -3.25% | -8.71% | -4.88% | -13.46% | 1.75% | 6.97% |
| Precious Metals | -9.07% | -16.15% | 4.04% | -15.69% | -8.77% | 8.68% |
Top & Bottom 5 ETFs by Weekly Performance
The top of the weekly leaderboard was dominated by cybersecurity and cloud-computing funds, led by WCBR (12.70%) and BUG (12.61%), with WCLD close behind at 11.83%. At the bottom, silver and gold mining funds struggled broadly, with SGDJ down 12.28% and SIL down 10.23% for the week. This divergence reflects the sharp pullback in Precious Metals performance against resilient demand for technology-driven thematic exposure. The performance spread between the top and bottom funds exceeded 24 percentage points, highlighting significant dispersion within the channel this week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| WCBR | WisdomTree Cybersecurity Fund | 12.70% |
| BUG | Global X Cybersecurity ETF | 12.61% |
| WCLD | WisdomTree Cloud Computing Fund | 11.83% |
| XA | Corgi AI Cybersecurity ETF | 11.19% |
| IHAK | iShares Cybersecurity & Tech ETF | 10.94% |
| Bottom Performers | ||
| SGDJ | Sprott Junior Gold Miners ETF | -12.28% |
| SIL | Global X Silver Miners ETF | -10.23% |
| SLVP | iShares MSCI Global Silver Miners ETF | -10.10% |
| SILJ | Amplify Junior Silver Miners ETF | -9.78% |
| GOEX | Global X Gold Explorers ETF | -9.67% |
Analyzing the Weekly Flows
The Thematic channel posted a net outflow of $1,621M over the trailing five days. Precious Metals led inflows with $261M despite its poor weekly performance, followed by Infrastructure at $166M, continuing a pattern of steady accumulation reflected in its $18,825M YTD total. Evolving Consumer saw the largest outflow at $636M, with Multi-Sector close behind at $635M and Disruptive Tech shedding $463M despite its strong longer-term flow picture of $38,365M YTD. The contrast between near-term redemptions and substantial YTD and one-year inflows across several categories suggests some rotation or profit-taking rather than a broader reversal in thematic demand.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Precious Metals | 16 | $44.78B | $261M | $785M | -$437M | -$1,763M | -$534M |
| Infrastructure | 52 | $61.60B | $166M | $926M | $2,313M | $18,825M | $21,564M |
| Health Innovation | 27 | $1.62B | $11M | $92M | $193M | $383M | $438M |
| Sustainability | 27 | $6.51B | $6M | $80M | -$569M | $577M | $1,150M |
| Alternative Equity | 8 | $2.21B | -$4M | -$22M | -$131M | $224M | $288M |
| Midstream & MLPs | 18 | $26.75B | -$23M | $30M | $832M | $2,153M | $2,505M |
| Industrial Revolution | 59 | $17.91B | -$84M | -$863M | -$686M | $6,590M | $7,199M |
| Natural Resources | 55 | $51.08B | -$103M | -$240M | -$154M | $10,056M | $12,668M |
| FinTech | 28 | $3.88B | -$117M | -$257M | -$5M | -$687M | -$758M |
| Disruptive Tech | 104 | $105.89B | -$463M | -$813M | $2,798M | $38,365M | $42,118M |
| Multi-Sector | 53 | $32.50B | -$635M | -$896M | $2,479M | $2,377M | $4,117M |
| Evolving Consumer | 47 | $12.74B | -$636M | -$310M | -$216M | -$2,322M | -$3,282M |
Top & Bottom 5 ETFs by 5-Day Flow
The Alger AI Enablers & Adopters ETF (ALAI) led all funds with $781M in weekly inflows, far outpacing the next closest gainer, VanEck Gold Miners ETF (GDX), at $221M. On the outflow side, ARK Innovation ETF (ARKK) recorded the largest redemption in the channel at $1,429M, more than triple the next largest outflow. iShares U.S. Home Construction ETF (ITB) followed with $371M in redemptions. Together, these flows illustrate concentrated single-fund activity driving much of the week’s net movement.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| ALAI | Alger AI Enablers & Adopters ETF | $781M |
| GDX | VanEck Gold Miners ETF | $221M |
| VOLT | Tema Electrification ETF | $195M |
| PAVE | Global X U.S. Infrastructure Development ETF | $91M |
| GRID | First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index | $76M |
| Outflows | ||
| ARKK | ARK Innovation ETF | -$1,429M |
| ITB | iShares U.S. Home Construction ETF | -$371M |
| AGIX | KraneShares Public-Private AI & Technology ETF | -$272M |
| XHB | State Street SPDR S&P Homebuilders ETF | -$245M |
| CIBR | First Trust NASDAQ Cybersecurity ETF | -$192M |
Note: the following fund(s) were excluded from the flow totals above because the weekly flow exceeds 75% of the fund’s AUM and may be the result of a custom rebalance: IDRV (-$128M), ARKG (-$1,880M).
Issuer League Table Update
Global X and iShares remain the two largest issuers in the Thematic channel by AUM, holding 16.74% and 15.83% market share, respectively, followed closely by First Trust at 14.84%. Alger led all issuers in weekly inflows with $781M, driven almost entirely by demand for its AI Enablers & Adopters ETF, while Tema added a further $214M. On the outflow side, ARK was the clear laggard among issuers, shedding $1,459M for the week, with iShares and First Trust also posting net redemptions of $346M and $304M, respectively.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Global X | 41 | $61.88B | 16.74% |
| iShares | 33 | $58.52B | 15.83% |
| First Trust | 32 | $54.85B | 14.84% |
| VanEck | 20 | $41.74B | 11.29% |
| Roundhill | 14 | $26.10B | 7.06% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Alger | $781M |
| Tema | $214M |
| VanEck | $190M |
| Outflows | |
| ARK | -$1,459M |
| iShares | -$346M |
| First Trust | -$304M |
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.
