Weekly Channel Summary
The Specialty ETF channel, encompassing 81 funds from 54 issuers, holds a total of $22.12 billion in assets under management. Investors continued to allocate capital to the space, adding a net $161 million over the past week. This brings year-to-date inflows to $6.96 billion, while the one-year total now stands at a robust $8.71 billion.
This Week’s Performance Leaders and Laggards
Both Specialty categories posted gains this week, with Hedged funds leading the way with an average return of 0.81%. The Long | Short category followed with a more modest gain of 0.23%. On a year-to-date basis, however, the Long | Short category maintains a performance advantage, up 8.96% compared to 6.31% for Hedged strategies.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Hedged | 0.81% | -0.70% | 8.77% | 6.05% | 6.31% | 15.59% |
| Long | Short | 0.23% | -1.40% | 4.37% | 8.70% | 8.96% | 17.41% |
Top & Bottom 5 ETFs by Weekly Performance
The FINQ DOLLAR NEUTRAL U.S. Large Cap AI-Managed Equity ETF (AINT) was the standout performer, delivering a weekly return of 4.21%. Several other funds also posted strong results, including the ProShares Long Online/Short Stores ETF (CLIX), which gained 3.39%. At the other end of the spectrum, the Man Active Emerging Markets Alternative ETF (MEMA) was the weakest performer, declining by 2.51%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| AINT | FINQ DOLLAR NEUTRAL U.S. Large Cap AI-Managed Equity ETF | 4.21% |
| PVEX | TrueShares ConVex Protect ETF | 3.41% |
| UPSD | Aptus Large Cap Upside ETF | 3.39% |
| CLIX | ProShares Long Online/Short Stores ETF | 3.39% |
| KONG | Formidable Fortress ETF | 2.77% |
| Bottom Performers | ||
| MEMA | Man Active Emerging Markets Alternative ETF | -2.51% |
| LSEQ | Harbor Long-Short Equity ETF | -2.30% |
| TOS | Twin Oak Strategic Solutions ETF | -2.20% |
| CLSE | Convergence Long/Short Equity ETF | -1.77% |
| VAMO | Cambria Value & Momentum ETF | -1.62% |
Analyzing the Weekly Flows
Investors directed a net $161 million into the Specialty channel over the week. The Long | Short category was the primary beneficiary, attracting $125 million in new assets. The Hedged category also saw positive demand, albeit smaller, with net inflows of $36 million. This continues a strong year-to-date trend for Long | Short funds, which have now gathered over $6.5 billion in 2026.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long | Short | 28 | $10.61B | $125M | $1,462M | $5,830M | $6,501M | $6,786M |
| Hedged | 53 | $11.51B | $36M | -$64M | $31M | $456M | $1,928M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares Systematic Alternatives Active ETF (IALT) was the clear favorite among investors, pulling in $76 million, which accounted for nearly half of the channel’s total weekly intake. Outflows from the channel were minimal and spread across several funds. The largest redemptions came from the TrueShares Quarterly Bear Hedge ETF (QBER) and the Militia Long/Short Equity ETF (ORR), which saw outflows of $9 million and $8 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| IALT | iShares Systematic Alternatives Active ETF | $76M |
| FTLS | First Trust Long/Short Equity ETF | $26M |
| CLSE | Convergence Long/Short Equity ETF | $25M |
| HEGD | Swan Hedged Equity US Large Cap ETF | $17M |
| HELO | JPMorgan Hedged Equity Laddered Overlay ETF | $12M |
| Outflows | ||
| QBER | TrueShares Quarterly Bear Hedge ETF | -$9M |
| ORR | Militia Long/Short Equity ETF | -$8M |
| HEFT | Hedgeye Fourth Turning ETF | -$5M |
| SHDG | Soundwatch Hedged Equity ETF | -$3M |
| PRAE | PlanRock Alternative Growth ETF | -$3M |
Issuer League Table Update
iShares and JPMorgan remain the two largest issuers in the Specialty channel, collectively managing over 44% of the total assets. This week, iShares led all issuers in asset gathering, bringing in $85 million in net new money. First Trust and Convergence also had positive weeks with notable inflows, while Militia experienced the largest net redemptions among issuers at $8 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 2 | $5.59B | 25.28% |
| JPMorgan | 3 | $4.23B | 19.11% |
| First Trust | 1 | $2.41B | 10.91% |
| Fidelity | 2 | $917M | 4.15% |
| Convergence | 1 | $736M | 3.33% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $85M |
| First Trust | $26M |
| Convergence | $25M |
| Outflows | |
| Militia | -$8M |
| Hedgeye | -$6M |
| SoundWatch Capital | -$3M |
For a deeper dive into these trends, access our FREE, in-depth EQ: Specialty 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.
