Weekly Channel Summary
The Alternatives channel, comprising 48 ETFs from 27 issuers, currently holds $12.78 billion in assets under management. This past week, the channel attracted a net total of $95 million in new capital. This continues a positive trend for the year, with year-to-date inflows reaching $3.22 billion. Over the past twelve months, investors have allocated a total of $5.54 billion to the space.
This Week’s Performance Leaders and Laggards
Performance within the Alternatives channel was sharply divided by volatility strategies this week. Short Volatility funds led all categories with a 2.81% gain, continuing a positive trend that has seen the group rise 1.55% year-to-date. Conversely, Long Volatility strategies were the worst performers, falling by 7.82% for the week. This steep weekly decline extends the category’s year-to-date losses to a significant 25.73%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Volatility – Short | 2.81% | 3.17% | 19.46% | 1.03% | 1.55% | 22.37% |
| Absolute Return – Managed Futures | 0.24% | -5.37% | -3.31% | 6.08% | 6.38% | 17.29% |
| Absolute Return – Event Driven | -0.25% | 0.11% | 0.38% | 1.68% | 1.71% | 4.02% |
| Absolute Return – Multi-Strategy | -0.55% | -1.18% | 2.52% | 5.43% | 5.76% | 15.21% |
| Volatility – Long | -7.82% | -13.02% | -44.12% | -24.14% | -25.73% | -62.99% |
Top & Bottom 5 ETFs by Weekly Performance
Among individual funds, performance was led by products betting against market volatility. The -1x Short VIX Futures ETF (SVIX) posted the strongest return, gaining 5.60% for the week. At the other end of the spectrum, the Opportunistic Trader ETF (WZRD) experienced a substantial decline, falling 48.66%. Several other funds with long volatility exposure also finished among the bottom performers for the week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| SVIX | -1x Short VIX Futures ETF | 5.60% |
| SVXY | ProShares Short VIX Short-Term Futures ETF | 3.21% |
| ZVOL | Volatility Premium Plus ETF | 2.96% |
| SVOL | Simplify Volatility Premium ETF | 1.98% |
| VYLD | Inverse Vix Short-Term Futures ETN | 1.02% |
| Bottom Performers | ||
| WZRD | Opportunistic Trader ETF | -48.66% |
| UVIX | 2x Long VIX Futures ETF | -11.49% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | -8.89% |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -6.45% |
| VIXY | ProShares VIX Short-Term Futures ETF | -6.15% |
Analyzing the Weekly Flows
Investors added a net $95 million to the Alternatives channel over the past week, though flows were concentrated in specific areas. The Absolute Return – Multi-Strategy category was the clear favorite, attracting $219 million in new assets. In contrast, the largest category by assets, Absolute Return – Managed Futures, saw the most significant redemptions, with investors pulling $131 million. This divergence highlights a shift in investor preference within the absolute return space this week.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Absolute Return – Multi-Strategy | 12 | $2.75B | $219M | $289M | $683M | $824M | $1,027M |
| Volatility – Long | 6 | $1.27B | $21M | -$308M | $747M | $69M | $1,595M |
| Absolute Return – Event Driven | 9 | $440M | -$6M | $2M | -$11M | -$33M | -$5M |
| Volatility – Short | 5 | $1.09B | -$7M | -$33M | -$276M | -$102M | -$602M |
| Absolute Return – Managed Futures | 16 | $7.23B | -$131M | $106M | $990M | $2,463M | $3,523M |
Top & Bottom 5 ETFs by 5-Day Flow
Flows at the fund level mirrored the broader category trends, with a single ETF dominating inflows. The First Trust Multi-Strategy Alternative ETF (LALT) single-handedly brought in $160 million, capturing the bulk of the channel’s net new assets. On the other hand, redemptions were concentrated in the managed futures space. The iMGP DBi Managed Futures Strategy ETF (DBMF) led outflows with $137 million withdrawn, followed by the First Trust Managed Futures Strategy Fund (FMF) which saw $25 million in outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| LALT | First Trust Multi-Strategy Alternative ETF | $160M |
| FLSP | Franklin Systematic Style Premia ETF | $44M |
| UVIX | 2x Long VIX Futures ETF | $17M |
| TFPN | Blueprint Chesapeake Multi-Asset Trend ETF | $15M |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | $15M |
| Outflows | ||
| DBMF | iMGP DBi Managed Futures Strategy ETF | -$137M |
| FMF | First Trust Managed Futures Strategy Fund | -$25M |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -$7M |
| CUSD | CrossingBridge Ultra-Short Duration ETF | -$6M |
| VIXY | ProShares VIX Short-Term Futures ETF | -$3M |
Issuer League Table Update
The issuer landscape is led by iM, which commands a 30.21% market share, followed by Simplify with a 16.52% share of channel assets. This week, First Trust was the leading asset gatherer, bringing in $145 million in net new capital. Conversely, the largest issuer, iM, also experienced the largest weekly outflows. The firm saw investors redeem a net total of $137 million, driven by its flagship managed futures fund.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iM | 1 | $3.86B | 30.21% |
| Simplify | 5 | $2.11B | 16.52% |
| New York Life Investments | 2 | $1.26B | 9.88% |
| Franklin | 1 | $981M | 7.67% |
| ProShares | 6 | $739M | 5.78% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| First Trust | $145M |
| Franklin | $44M |
| Volatility Shares | $15M |
| Outflows | |
| iM | -$137M |
| iPath | -$7M |
| CrossingBridge Funds | -$6M |
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.
