Weekly Channel Summary
The Alternative ETF channel currently encompasses 48 ETFs managed by 27 distinct issuers, totaling $12.9B in Assets Under Management (AUM). For the week, the overall channel experienced a net 5-day flow of -$27M. However, the longer-term trend remains strongly positive, with Year-to-Date (YTD) flows sitting at +$3.07B and 1-Year flows totaling +$5.76B.
This Week’s Performance Leaders and Laggards
The inverse performance relationship between volatility segments was on full display this week. The “Alternative: Volatility – Short” category gained +2.64% (pushing its YTD return to +0.30%), while the “Alternative: Volatility – Long” category dropped -6.44% (falling to -15.78% YTD). Within the Absolute Return space, “Absolute Return – Multi-Strategy” was the leading category, managing a slight positive weekly return of +0.15%.
Absolute Return Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Absolute Return – Multi-Strategy | +0.15% | -4.28% | -2.96% | -0.20% | -0.67% | +11.29% |
| Absolute Return – Event Driven | -0.03% | +0.62% | +1.67% | +2.22% | +2.14% | +5.36% |
| Absolute Return – Managed Futures | -0.53% | -4.30% | -0.04% | +10.71% | +9.58% | +21.70% |
Volatility Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Alternative: Volatility – Short | +2.64% | +7.46% | +17.85% | +3.93% | +0.30% | +31.07% |
| Alternative: Volatility – Long | -6.44% | -16.24% | -32.90% | -21.80% | -15.78% | -49.98% |
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing ETF for the week was the -1x Short VIX Futures ETF (SVIX), surging +5.73% as it directly benefited from the strength in the short volatility category. Conversely, the worst performers were anchored in the long volatility space, with the 2x Long VIX Futures ETF (UVIX) plummeting -13.13% and the ProShares Ultra VIX Short-Term Futures ETF (UVXY) dropping -9.48%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| SVIX | -1x Short VIX Futures ETF | +5.73% |
| SVXY | ProShares Short VIX Short-Term Futures ETF | +2.95% |
| ASGM | Virtus AlphaSimplex Global Macro ETF | +1.90% |
| ZVOL | Volatility Premium Plus ETF | +1.83% |
| SVOL | Simplify Volatility Premium ETF | +1.40% |
| Bottom Performers | ||
| UVIX | 2x Long VIX Futures ETF | -13.13% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | -9.48% |
| VIXY | ProShares VIX Short-Term Futures ETF | -6.20% |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -6.17% |
| CTA | Simplify Managed Futures Strategy ETF | -4.03% |
Analyzing the Weekly Flows
The channel registered a total net outflow of -$27M over the last 5 days. Interestingly, “Absolute Return – Managed Futures” saw the most inflows at +$25M, indicating highly contrarian behavior from investors buying the dip into the worst-performing Absolute Return category of the week. At the other end of the spectrum, “Alternative: Volatility – Long” experienced the largest outflows (-$32M), highlighting a capitulation or cutting of losses in a poorly performing segment. It is also worth noting that “Alternative: Volatility – Short” experienced -$26M in outflows, suggesting active profit-taking after strong performance. Across the Absolute Return categories, net flows were entirely positive, led by Managed Futures (+$25M), Multi-Strategy (+$4M), and Event Driven (+$1M).
Absolute Return Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Absolute Return – Managed Futures | 16 | $7.4B | +$25M | +$545M | +$1,206M | +$2,480M | +$3,605M |
| Absolute Return – Multi-Strategy | 12 | $2.5B | +$4M | +$75M | +$494M | +$595M | +$814M |
| Absolute Return – Event Driven | 9 | $0.4B | +$1M | +$3M | -$21M | -$32M | -$7M |
Volatility Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Alternative: Volatility – Short | 5 | $1.1B | -$26M | -$65M | -$188M | -$71M | -$625M |
| Alternative: Volatility – Long | 6 | $1.4B | -$32M | -$170M | +$449M | +$98M | +$1,969M |
Top & Bottom 5 ETFs by 5-Day Flow
The IMGP DBi Managed Futures Strategy ETF (DBMF) led the pack for inflows, gathering +$15M over the past 5 days, representing 0.39% of its AUM. On the flip side, the 2x Long VIX Futures ETF (UVIX) and the -1x Short VIX Futures ETF (SVIX) suffered the heaviest outflows, losing -$18M and -$16M respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| DBMF | IMGP DBi Managed Futures Strategy ETF | +$15M |
| FMF | First Trust Managed Futures Strategy Fund | +$5M |
| QAI | NYLI Hedge Multi-Strategy Tracker ETF | +$4M |
| FAAR | First Trust Alternative Absolute Return Strategy ETF | +$3M |
| LALT | First Trust Multi-Strategy Alternative ETF | +$2M |
| Outflows | ||
| UVIX | 2x Long VIX Futures ETF | -$18M |
| SVIX | -1x Short VIX Futures ETF | -$16M |
| SVOL | Simplify Volatility Premium ETF | -$11M |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -$10M |
| VIXY | ProShares VIX Short-Term Futures ETF | -$5M |
Issuer League Table Update
iM maintains its dominant market share position, controlling 31.04% of the Alternative ETF channel with $3.99B in AUM. Simplify securely holds the second position with a 16.35% market share and $2.10B in AUM. From a flows perspective, iM attracted the most new assets this week with +$15M in weekly inflows, while Volatility Shares experienced the largest contraction with -$33M in weekly outflows.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iM | 1 | $3.99B | 31.04% |
| Simplify | 5 | $2.10B | 16.35% |
| New York Life Investments | 2 | $1.26B | 9.84% |
| Franklin | 1 | $0.94B | 7.29% |
| ProShares | 6 | $0.81B | 6.26% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iM | +$15M |
| First Trust | +$11M |
| New York Life Investments | +$4M |
| Outflows | |
| Volatility Shares | -$33M |
| iPath | -$10M |
| Simplify | -$10M |
For a deeper dive into these trends, access our FREE, in-depth Alternative 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.
