Weekly Channel Summary
The Synthetic Income ETF channel represents a robust and expanding segment of the market, currently consisting of 398 individual funds managed across 71 distinct issuers. Together, these funds command a massive $204.11 billion in total Assets Under Management (AUM). Investor interest remains high, with the channel capturing $1.58 billion in net inflows over the past 5 days alone. This strong weekly momentum brings Year-to-Date (YTD) flows to an impressive $37.07 billion, building significantly on the $74.12 billion the category has gathered over the trailing 1-year period.
This Week’s Performance Leaders and Laggards
Based on Week-to-Date (WTD) returns, the performance landscape for individual Synthetic Income ETFs saw significant dispersion. Underlying category thematic strength, particularly in disruptive tech and information technology, fueled upside participation, while commodity-driven, energy-focused strategies largely dragged down the laggards.
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing individual fund was the Nicholas Nuclear Income ETF (NUKX), which surged 9.38% over the past week. Conversely, funds carrying energy market exposure faced steep headwinds, with the Defiance Oil Enhanced Options Income ETF (USOY) and the UBS AG ETRACS Crude Oil Shares Covered Call ETN (USOI) ranking as the bottom two laggards, posting respective WTD returns of -7.62% and -6.74%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| NUKX | Nicholas Nuclear Income ETF | 9.38% |
| EGGQ | NestYield Visionary ETF | 9.06% |
| SMRF | ALPS Nautilus SMR, Nuclear & Technology ETF | 8.96% |
| EGGY | NestYield Dynamic Income ETF | 8.37% |
| SOXY | YieldMax Target 12 Semiconductor Option Income ETF | 7.05% |
| Bottom Performers | ||
| USOY | Defiance Oil Enhanced Options Income ETF | -7.62% |
| USOI | UBS AG ETRACS Crude Oil Shares Covered Call ETNs | -6.74% |
| SPCI | Tuttle Capital Space Industry Income Blast ETF | -5.98% |
| WEEI | Westwood Salient Enhanced Energy Income ETF | -5.86% |
| XLEI | State Street Energy Select Sector SPDR Premium Income ETF | -5.64% |
Analyzing the Weekly Flows
The Synthetic Income category experienced widespread capital accumulation, pulling in a total net flow of $1.58 billion for the week. Synthetic Income – Equity was the definitive leader, receiving $1.46 billion in inflows to push its commanding total AUM to $186.31 billion. Significant flows were also captured by the Synthetic Income – Crypto category, which absorbed an impressive $33 million. Only the Synthetic Income – Multi-Asset category saw capital depart, shedding a minor ($1 million) to represent the channel’s largest weekly outflows.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Synthetic Income – Equity | 217 | $186,308M | $1,463M | $6,463M | $17,971M | $33,819M | $60,432M |
| Synthetic Income – Crypto | 24 | $1,629M | $33M | $149M | $501M | $784M | $2,201M |
| Synthetic Income – Commodity | 15 | $2,302M | $33M | $169M | $372M | $883M | $1,573M |
| Synthetic Income – Single Stock | 108 | $7,802M | $27M | $461M | $1,025M | $330M | $7,482M |
| Synthetic Income – Fixed Income | 25 | $5,627M | $20M | $126M | $597M | $1,027M | $2,186M |
| Synthetic Income – Multi-Asset | 6 | $444M | ($1M) | $7M | $53M | $223M | $249M |
Top & Bottom 5 ETFs by 5-Day Flow
Looking at the individual ETF level, the NEOS Nasdaq 100 High Income ETF (QQQI) led the pack for inflows, gathering a formidable $422 million. Conversely, the market’s heavyweights dominated the outflows, with the JPMorgan NASDAQ Equity Premium Income ETF (JEPQ) and the Global X NASDAQ 100 Covered Call ETF (QYLD) shedding ($188 million) and ($118 million) respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| QQQI | NEOS Nasdaq 100 High Income ETF | $422M |
| RDVI | FT Vest Rising Dividend Achievers Target Income ETF | $392M |
| SPYI | NEOS S&P 500 High Income ETF | $209M |
| SDVD | FT Vest SMID Rising Dividend Achievers Target Income ETF | $109M |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | $107M |
| Outflows | ||
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | ($188M) |
| QYLD | Global X NASDAQ 100 Covered Call ETF | ($118M) |
| JEPI | JPMorgan Equity Premium Income ETF | ($65M) |
| HEDG | Equable Shares Hedged Equity ETF | ($28M) |
| TLTW | iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | ($27M) |
Issuer League Table Update
JPMorgan remains the market share leader within the Synthetic Income space, commanding 41.27% of category assets, while Neos sits securely in the second position with 14.25%. Looking at weekly flow momentum, Neos attracted the most capital, collecting $766 million in net new inflows. In contrast, among the top 5 largest issuers by AUM, JPMorgan saw the greatest redemptions, experiencing the largest absolute outflow at -$237 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 5 | $84.24B | 41.27% |
| Neos | 18 | $29.08B | 14.25% |
| Global X | 17 | $13.31B | 6.52% |
| FT Vest | 16 | $9.84B | 4.82% |
| YieldMax | 59 | $9.83B | 4.82% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Neos | $766M |
| FT Vest | $557M |
| Goldman Sachs | $151M |
| Outflows | |
| JPMorgan | -$237M |
| Global X | -$116M |
| Equable | -$28M |
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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.
