Weekly Channel Summary
The Buffer ETF channel, encompassing 525 products from 19 issuers, currently holds $95.29 billion in total assets. The segment experienced a significant net outflow of $1.08 billion over the past week, a notable shift from recent positive trends. Despite the weekly withdrawal, year-to-date net flows remain robust at $9.90 billion, while the one-year total stands at a healthy $14.82 billion.
This Week’s Performance Leaders and Laggards
Performance was mixed across the Buffer ETF landscape in a relatively quiet week for returns. The Commodity category led all groups with a modest 0.22% gain, while the dominant Equity category posted a slight loss of 0.24%. At the bottom of the table, Fixed Income funds registered the largest decline, falling 0.93% for the week. On a year-to-date basis, Equity remains the only category with a positive return, up 5.58%.
Analyzing the Weekly Flows
Investors pulled a net $1.08 billion from the Buffer channel, with the redemptions concentrated entirely within Equity strategies. The primary catalyst for the week’s activity was the monthly reset cycle, as funds with a July outcome period shed a collective $1.15 billion. In contrast to the monthly reset outflows, strategies with Laddered and Quarterly resets attracted the most new capital, bringing in $101 million and $69 million, respectively.
Flows by Asset Class
| Asset Class | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Commodity | 1 | $51M | $0M | $2M | $2M | -$0M | -$11M |
| Fixed Income | 2 | $18M | $0M | -$25M | -$12M | -$14M | -$17M |
| Crypto | 20 | $167M | -$6M | -$11M | -$15M | -$20M | -$80M |
| Equity | 502 | $95.05B | -$1,076M | $594M | $4,813M | $9,931M | $14,929M |
Flows by Outcome Period / Strategy
| Outcome Period / Strategy | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Buffer Reset: Laddered | 28 | $17.69B | $101M | $527M | $1,492M | $2,867M | $4,389M |
| Buffer Reset: Quarterly | 41 | $8.89B | $69M | $138M | $931M | $1,898M | $3,109M |
| Buffer Reset: June | 40 | $6.43B | $18M | $420M | $2,152M | $2,079M | $1,757M |
| Buffer Reset: March | 31 | $5.08B | $13M | $13M | $45M | $579M | $322M |
| Buffer Reset: April | 45 | $5.55B | $9M | $88M | $260M | $656M | $297M |
| Buffer Reset: May | 34 | $5.01B | $8M | $77M | $1,967M | $1,907M | $1,735M |
| Buffer Reset: Semi-Annually | 10 | $1.16B | $4M | -$243M | $20M | $6M | $41M |
| Buffer Reset: Dynamic | 1 | $38M | $0M | $1M | -$6M | -$4M | -$2M |
| Buffer Reset: Daily | 4 | $8M | -$0M | $1M | $1M | $4M | -$16M |
| Buffer Reset: Dynamic | 11 | $2.32B | -$0M | -$440M | $202M | $375M | $697M |
| Buffer Reset: November | 26 | $4.07B | -$1M | -$176M | -$424M | -$370M | $665M |
| Buffer Reset: October | 44 | $5.54B | -$3M | -$142M | -$542M | -$1,003M | $591M |
| Buffer Reset: August | 24 | $3.87B | -$4M | -$55M | -$248M | -$559M | $16M |
| Buffer Reset: September | 30 | $5.06B | -$5M | -$36M | -$583M | -$717M | $801M |
| Buffer Reset: February | 25 | $4.86B | -$8M | -$38M | $96M | $1,044M | $445M |
| Buffer Reset: December | 34 | $6.20B | -$15M | -$154M | -$795M | -$286M | -$276M |
| Buffer Reset: January | 44 | $6.98B | -$118M | -$216M | -$435M | $1,195M | $311M |
| Buffer Reset: July | 53 | $6.53B | -$1,149M | $795M | $655M | $224M | -$63M |
Top & Bottom 5 ETFs by 5-Day Flow
A stark divergence in flows was evident at the fund level, driven by the July reset period. Innovator’s suite of July funds saw strong demand, led by the Innovator U.S. Equity Ultra Buffer ETF – July (UJUL), which gathered $58 million. Conversely, massive redemptions hit FT Vest’s July offerings, with the FT Vest U.S. Equity Buffer ETF – July (FJUL) losing $818 million. Its sister fund, the FT Vest U.S. Equity Deep Buffer ETF – July (DJUL), also saw substantial outflows of $297 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| UJUL | Innovator U.S. Equity Ultra Buffer ETF – July | $58M |
| BJUL | Innovator U.S. Equity Buffer ETF – July | $54M |
| PJUL | Innovator U.S. Equity Power Buffer ETF – July | $50M |
| BALT | Innovator Defined Wealth Shield ETF | $43M |
| ZALT | Innovator U.S. Equity 10 Buffer ETF – Quarterly | $25M |
| Outflows | ||
| FJUL | FT Vest U.S. Equity Buffer ETF – July | -$818M |
| DJUL | FT Vest U.S. Equity Deep Buffer ETF – July | -$297M |
| GJUL | FT Vest U.S. Equity Moderate Buffer ETF – July | -$235M |
| BJAN | Innovator U.S. Equity Buffer ETF – January | -$52M |
| DHDG | FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF | -$39M |
Issuer League Table Update
FT Vest and Innovator continue to command the Buffer ETF market, holding 48.78% and 36.59% of assets, respectively. This week’s flows highlighted a dramatic contrast between the two leaders, as Innovator led all issuers with $180 million in net inflows. On the other hand, FT Vest experienced the week’s largest outflows by a significant margin, with investors withdrawing over $1.3 billion from its product lineup.
Top 5 Issuers by AUM
| Issuer | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| FT Vest | 121 | $46.48B | 48.78% |
| Innovator | 160 | $34.87B | 36.59% |
| Allianz | 59 | $5.86B | 6.15% |
| AB Funds | 3 | $1.64B | 1.72% |
| PGIM | 47 | $1.58B | 1.66% |
Top & Bottom 3 Issuers by 5-Day Flow
| Issuer | 5-Day Flow |
|---|---|
| Inflows | |
| Innovator | $180M |
| PGIM | $18M |
| Allianz | $17M |
| Outflows | |
| FT Vest | -$1,306M |
| Measured Risk Portfolios | -$4M |
| Calamos | -$0M |
For a deeper dive into these trends, access our FREE, in-depth Buffer 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.
