Weekly Channel Summary
The Synthetic Income channel, comprising 425 ETFs from 79 issuers, ended the week with $222.8 billion in assets under management. Investors added a net $1.47 billion to the space over the past five days, contributing to a robust year-to-date inflow of $58.1 billion. Over the last twelve months, the channel has attracted over $76.6 billion in new capital, underscoring sustained demand for income-generating strategies.
This Week’s Performance Leaders and Laggards
It was a down week across all Synthetic Income categories, with none posting a positive return. Equity funds were the best relative performers, declining just 0.61%, while Crypto funds fared the worst with a 2.03% loss. Despite the weekly dip, the Equity category remains up over 10% year-to-date, while the Crypto category’s negative weekly performance contrasts with its strong gains over the past one and three months.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Equity | -0.61% | -0.01% | 3.40% | 8.64% | 10.25% | 15.39% |
| Multi-Asset | -0.64% | -0.45% | 0.91% | 5.93% | 6.11% | 13.58% |
| Fixed Income | -0.68% | -0.43% | -1.03% | 0.08% | 0.98% | 2.41% |
| Commodity | -1.13% | 1.42% | 2.47% | -8.21% | 7.45% | 21.39% |
| Single Stock | -1.62% | 9.42% | 8.81% | 18.44% | 14.83% | 18.43% |
| Crypto | -2.03% | 16.61% | 17.61% | 6.60% | -14.07% | -32.34% |
Top & Bottom 5 ETFs by Weekly Performance
A significant performance divergence emerged within the crypto space this week. The Amplify Ethereum Max Income Covered Call ETF (EHY) surged 6.45%, leading all funds, and several other Ethereum-based strategies also posted strong gains. Conversely, the Simplify Bitcoin Strategy ETF (MAXI) was the channel’s worst performer, falling 7.47% for the week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| EHY | Amplify Ethereum Max Income Covered Call ETF | 6.45% |
| USOY | Defiance Oil Enhanced Options Income ETF | 6.44% |
| ETTY | Amplify Ethereum 3% Monthly Option Income ETF | 5.45% |
| YETH | Roundhill Ether Covered Call Strategy ETF | 3.34% |
| NEHI | NEOS Ethereum High Income ETF | 3.23% |
| Bottom Performers | ||
| MAXI | Simplify Bitcoin Strategy ETF | -7.47% |
| SMRF | ALPS Nautilus SMR, Nuclear & Technology ETF | -5.95% |
| NUKX | Nicholas Nuclear Income ETF | -5.39% |
| KLIP | KraneShares KWEB Covered Call Strategy ETF | -4.38% |
| YGLD | Simplify Gold Strategy ETF | -4.13% |
Analyzing the Weekly Flows
Investors allocated a net $1.47 billion to Synthetic Income ETFs, with flows concentrated in a single category. Equity funds were the primary driver of the week’s activity, attracting $1.28 billion in new assets. All other categories, including Single Stock and Commodity funds, also saw modest positive inflows, indicating broad-based, if uneven, demand across the channel.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Equity | 240 | $203.87B | $1,282M | $7,657M | $20,513M | $52,868M | $66,336M |
| Single Stock | 115 | $7.59B | $71M | $151M | $582M | $885M | $3,972M |
| Commodity | 17 | $2.65B | $48M | $278M | $508M | $1,358M | $1,873M |
| Fixed Income | 25 | $6.16B | $45M | $252M | $717M | $1,724M | $2,477M |
| Crypto | 22 | $2.01B | $16M | $67M | $252M | $1,004M | $1,692M |
| Multi-Asset | 6 | $496M | $4M | $16M | $57M | $281M | $296M |
Top & Bottom 5 ETFs by 5-Day Flow
The NEOS S&P 500 High Income ETF (SPYI) led all individual funds, gathering $250 million in new assets. Its counterpart, the NEOS Nasdaq 100 High Income ETF (QQQI), also had a strong showing with $175 million in inflows. Outflows were minimal across the channel, with the FT Vest Investment Grade & Target Income ETF (LQTI) and FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) seeing the largest redemptions of just $16 million and $15 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SPYI | NEOS S&P 500 High Income ETF | $250M |
| QQQI | NEOS Nasdaq 100 High Income ETF | $175M |
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | $113M |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | $75M |
| ACYN | FT Vest Laddered Autocallable Barrier & Income ETF | $64M |
| Outflows | ||
| LQTI | FT Vest Investment Grade & Target Income ETF | -$16M |
| KNG | FT Vest S&P 500 Dividend Aristocrats Target Income ETF | -$15M |
| TLTW | iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | -$14M |
| SDVD | FT Vest SMID Rising Dividend Achievers Target Income ETF | -$13M |
| ACIO | Aptus Collared Investment Opportunity ETF | -$6M |
Issuer League Table Update
JPMorgan continues to lead the channel with nearly 40% of the market share, followed by Neos with a 15.4% share. However, Neos was the clear winner in weekly asset gathering, pulling in a substantial $579 million in net inflows. JPMorgan also experienced a positive week, adding $188 million, while outflows among other issuers were negligible.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 5 | $88.80B | 39.86% |
| Neos | 18 | $34.28B | 15.39% |
| Global X | 17 | $13.58B | 6.09% |
| Goldman Sachs | 2 | $11.36B | 5.10% |
| Amplify | 16 | $10.22B | 4.59% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Neos | $579M |
| JPMorgan | $188M |
| Goldman Sachs | $126M |
| Outflows | |
| ProShares | -$4M |
| Direxion | -$1M |
| Shelton Capital | -$1M |
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.
