Weekly Channel Summary
The Specialty Equity channel, comprising 78 ETFs from 51 issuers, holds total assets of $22.82 billion. This week, the segment attracted $320 million in net new assets from investors. This inflow contributes to a strong year-to-date collection of $6.87 billion and a total of $8.47 billion over the past twelve months.
This Week’s Performance Leaders and Laggards
Both Specialty Equity categories posted negative returns for the week amid broader market shifts. The Long | Short category proved more resilient, declining just -0.33%, while the Hedged category fell by -1.11%. Year-to-date, the performance gap is more pronounced, with Long | Short funds returning 10.06% compared to 6.03% for their Hedged counterparts.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long | Short | -0.33% | 0.63% | 3.36% | 8.37% | 10.06% | 18.21% |
| Hedged | -1.11% | 0.09% | 2.88% | 4.84% | 6.03% | 14.10% |
Top & Bottom 5 ETFs by Weekly Performance
Among individual funds, the AGF U.S. Market Neutral Anti-Beta Fund (BTAL) delivered a standout performance, gaining 4.13% for the week. The Leatherback Long/Short Alternative Yield ETF (LBAY) also bucked the trend with a 2.70% return. On the other end of the spectrum, the Twin Oak Strategic Solutions ETF (TOS) was the worst performer, declining by -5.60%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | 4.13% |
| LBAY | Leatherback Long/Short Alternative Yield ETF | 2.70% |
| VAMO | Cambria Value & Momentum ETF | 1.54% |
| HFSP | TradersAI Large Cap Equity & Cash ETF | 1.53% |
| MKTN | Federated Hermes MDT Market Neutral ETF | 1.05% |
| Bottom Performers | ||
| TOS | Twin Oak Strategic Solutions ETF | -5.60% |
| MEMA | Man Active Emerging Markets Alternative ETF | -4.67% |
| HBTA | Horizon Expedition Plus ETF | -4.43% |
| AINT | FINQ DOLLAR NEUTRAL U.S. Large Cap AI-Managed Equity ETF | -4.33% |
| MSTQ | LHA Market State Tactical Q ETF | -4.23% |
Analyzing the Weekly Flows
Investors allocated a net $320 million to the Specialty Equity channel this week. Hedged strategies led the way, pulling in $221 million, while Long | Short funds collected the remaining $99 million. Despite the weekly result, Long | Short funds maintain a significant lead in year-to-date flows, having attracted nearly $6.0 billion compared to $914 million for Hedged ETFs.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Hedged | 50 | $11.83B | $221M | $384M | $406M | $914M | $2,195M |
| Long | Short | 27 | $10.18B | $99M | $508M | $5,205M | $5,958M | $6,272M |
Top & Bottom 5 ETFs by 5-Day Flow
The JPMorgan Hedged Equity Laddered Overlay ETF (HELO) was the clear favorite, single-handedly attracting $207 million, which accounted for roughly two-thirds of the channel’s total intake. The iShares Systematic Alternatives Active ETF (IALT) also saw strong demand, gathering $91 million. Outflows were minimal across the space, with the Militia Long/Short Equity ETF (ORR) and Hedgeye Fourth Turning ETF (HEFT) seeing the largest redemptions at just -$5 million and -$3 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| HELO | JPMorgan Hedged Equity Laddered Overlay ETF | $207M |
| IALT | iShares Systematic Alternatives Active ETF | $91M |
| CLSE | Convergence Long/Short Equity ETF | $15M |
| FHEQ | Fidelity Hedged Equity ETF | $5M |
| CAOS | Alpha Architect Tail Risk ETF | $5M |
| Outflows | ||
| ORR | Militia Long/Short Equity ETF | -$5M |
| HEFT | Hedgeye Fourth Turning ETF | -$3M |
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | -$3M |
| PHDG | Invesco S&P 500 Downside Hedged ETF | -$2M |
| PRAE | PlanRock Alternative Growth ETF | -$2M |
Note: the following fund(s) were excluded from the flow totals above because the weekly flow exceeds 75% of the fund’s AUM and may be the result of a custom rebalance: BFLX ($827M).
Issuer League Table Update
iShares and JPMorgan remain the dominant issuers in the Specialty Equity space, commanding 25.81% and 19.75% of the market share, respectively. JPMorgan led the week’s asset gathering with $207 million in net inflows, entirely driven by demand for a single fund. Outflows at the issuer level were negligible, with Militia experiencing the largest net redemption of only $5 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 2 | $5.89B | 25.81% |
| JPMorgan | 3 | $4.51B | 19.75% |
| First Trust | 1 | $2.45B | 10.76% |
| Fidelity | 2 | $944M | 4.14% |
| Convergence | 1 | $759M | 3.33% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| JPMorgan | $207M |
| iShares | $91M |
| Convergence | $15M |
| Outflows | |
| Militia | -$5M |
| Hedgeye | -$3M |
| AGF | -$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.
