Weekly Channel Summary
The Buffer ETF channel, encompassing 507 funds from 19 issuers, holds $93.43 billion in total assets. This week, the channel experienced net outflows of $388 million, a shift from recent positive trends. Despite the weekly withdrawal, year-to-date flows remain strong at $8.72 billion, and the one-year total stands at an impressive $14.62 billion.
This Week’s Performance Leaders and Laggards
Fixed Income was the lone category in positive territory this week, posting a modest gain of 0.26%. In contrast, the dominant Equity category, which holds the vast majority of channel assets, declined by 0.68%. The Commodity category was the weakest performer with a 2.22% loss for the week. Year-to-date, Equity buffer strategies remain up 5.09%, while Crypto funds have struggled, showing a decline of 11.57%.
Analyzing the Weekly Flows
Buffer ETFs recorded net outflows of $388 million, driven almost entirely by a $404 million withdrawal from Equity-linked products. A significant rotation occurred within outcome periods, as the June reset series saw massive redemptions totaling $1.17 billion as funds reached their maturity. Conversely, investors allocated fresh capital to other strategies, with Quarterly reset funds leading inflows at $360 million, followed by Semi-Annually reset products which gathered $249 million.
Flows by Asset Class
| Asset Class | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Fixed Income | 2 | $44M | $18M | $14M | $13M | $11M | $3M |
| Commodity | 1 | $48M | $0M | $1M | -$0M | -$3M | -$11M |
| Crypto | 20 | $174M | -$3M | -$8M | -$9M | -$9M | $56M |
| Equity | 484 | $93.17B | -$404M | $2,310M | $4,857M | $8,716M | $14,568M |
Flows by Outcome Period / Strategy
| Outcome Period / Strategy | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Buffer Reset: Quarterly | 37 | $8.71B | $360M | $500M | $976M | $1,767M | $3,185M |
| Buffer Reset: Semi-Annually | 10 | $1.39B | $249M | $277M | $249M | $249M | $274M |
| Buffer Reset: Dynamic | 10 | $2.37B | $203M | $256M | $312M | $453M | $816M |
| Buffer Reset: May | 34 | $4.93B | $135M | $162M | $1,941M | $1,884M | $1,735M |
| Buffer Reset: Laddered | 28 | $17.05B | $106M | $467M | $1,448M | $2,394M | $4,187M |
| Buffer Reset: April | 45 | $5.46B | $76M | $83M | $835M | $625M | $185M |
| Buffer Reset: July | 41 | $5.77B | $3M | -$110M | -$433M | -$781M | -$182M |
| Buffer Reset: Dynamic | 1 | $37M | $1M | -$2M | -$6M | -$4M | -$2M |
| Buffer Reset: Daily | 4 | $7M | -$0M | -$2M | $0M | $3M | -$6M |
| Buffer Reset: February | 25 | $4.84B | -$4M | -$1M | $179M | $1,079M | $370M |
| Buffer Reset: January | 44 | $7.10B | -$14M | -$52M | -$253M | $1,404M | $353M |
| Buffer Reset: March | 31 | $5.01B | -$27M | $17M | $341M | $564M | $262M |
| Buffer Reset: December | 33 | $6.22B | -$38M | -$194M | -$683M | -$180M | -$195M |
| Buffer Reset: August | 24 | $3.86B | -$44M | -$144M | -$220M | -$527M | $207M |
| Buffer Reset: September | 30 | $5.00B | -$62M | -$219M | -$588M | -$718M | $750M |
| Buffer Reset: November | 26 | $4.16B | -$76M | -$105M | -$272M | -$227M | $798M |
| Buffer Reset: October | 44 | $5.55B | -$81M | -$353M | -$687M | -$924M | $346M |
| Buffer Reset: June | 40 | $5.93B | -$1,174M | $1,736M | $1,724M | $1,655M | $1,532M |
Top & Bottom 5 ETFs by 5-Day Flow
The week’s flows were dominated by fund resets, with Innovator Equity Defined Protection ETF – 6mo Jan/Jul (JAJL) attracting the most new capital at $249 million. On the other side of the ledger, funds with a June outcome period experienced significant redemptions. The FT Vest U.S. Equity Buffer ETF – June (FJUN) led all outflows by shedding $613 million, while the FT Vest Nasdaq-100 Buffer ETF – June (QJUN) saw the second-largest withdrawal of $355 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| JAJL | Innovator Equity Defined Protection ETF – 6mo Jan/Jul | $249M |
| QBUF | Innovator Nasdaq-100 10 Buffer ETF Quarterly | $158M |
| PSTP | Innovator Power Buffer Step-Up Strategy ETF | $131M |
| IBUF | Innovator International Developed 10 Buffer ETF – Quarterly | $103M |
| FMAY | FT Vest U.S. Equity Buffer Fund – May | $103M |
| Outflows | ||
| FJUN | FT Vest U.S. Equity Buffer ETF – June | -$613M |
| QJUN | FT Vest Nasdaq-100 Buffer ETF – June | -$355M |
| DJUN | FT Vest U.S. Equity Deep Buffer ETF – June | -$128M |
| FNOV | FT Vest U.S. Equity Buffer ETF – November | -$77M |
| GJUN | FT Vest U.S. Equity Moderate Buffer ETF – June | -$74M |
Issuer League Table Update
FT Vest and Innovator continue to dominate the Buffer ETF landscape, commanding 48.46% and 37.16% of the market share, respectively. This week highlighted a significant divergence in flows between the two leaders. Innovator led all issuers with $835 million in net inflows, while FT Vest experienced substantial redemptions totaling $1.28 billion, largely tied to its June series of funds.
Top 5 Issuers by AUM
| Issuer | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| FT Vest | 120 | $45.28B | 48.46% |
| Innovator | 160 | $34.72B | 37.16% |
| Allianz | 58 | $5.67B | 6.07% |
| AB Funds | 3 | $1.61B | 1.72% |
| PGIM | 43 | $1.46B | 1.56% |
Top & Bottom 3 Issuers by 5-Day Flow
| Issuer | 5-Day Flow |
|---|---|
| Inflows | |
| Innovator | $835M |
| TrueShares | $33M |
| PGIM | $15M |
| Outflows | |
| FT Vest | -$1,284M |
| iShares | -$1M |
| Corgi | -$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.
