Weekly Channel Summary
The Alternatives channel encompasses 47 ETFs from 26 issuers, with total assets under management of $13.46 billion. The channel experienced net inflows of $295 million for the week, contributing to a year-to-date total of $3.73 billion. Over the past year, investors have allocated $5.29 billion into these strategies.
This Week’s Performance Leaders and Laggards
Volatility-linked strategies showed the widest performance divergence this week. Short Volatility products gained 1.41%, bringing their year-to-date return to 2.62%. Conversely, Long Volatility strategies fell sharply by 5.97%, extending their significant year-to-date decline to -27.27%. Among absolute return categories, Multi-Strategy funds posted a modest 0.38% gain while Managed Futures strategies declined by 1.57% for the week.
Absolute Return Performance Snapshot
| Absolute Return | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Multi-Strategy | 0.38% | 0.06% | 1.65% | 4.39% | 6.78% | 15.17% |
| Event Driven | -0.01% | 0.28% | 0.59% | 1.54% | 2.28% | 4.01% |
| Managed Futures | -1.57% | 2.22% | -2.26% | 5.88% | 9.67% | 20.97% |
Volatility Performance Snapshot
| Volatility | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Vol – Short | 1.41% | 0.83% | 9.88% | 3.81% | 2.62% | 21.99% |
| Vol – Long | -5.97% | -5.05% | -29.75% | -29.74% | -27.27% | -57.53% |
Top & Bottom 5 ETFs by Weekly Performance
The -1x Short VIX Futures ETF, SVIX, was the top-performing fund this week, gaining 3.77% amidst shifting volatility expectations. On the other end of the spectrum, the Opportunistic Trader ETF, WZRD, experienced a dramatic decline, falling by 61.29%. Several other long volatility products also populated the bottom performers list, including the 2x Long VIX Futures ETF, UVIX, which dropped 10.20%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| SVIX | -1x Short VIX Futures ETF | 3.77% |
| NTRL | First Trust Equity Market Neutral ETF | 3.07% |
| SVXY | ProShares Short VIX Short-Term Futures ETF | 2.18% |
| JPFP | JPMorgan Managed Futures Plus ETF | 1.52% |
| ZVOL | Volatility Premium Plus ETF | 1.39% |
| Bottom Performers | ||
| WZRD | Opportunistic Trader ETF | -61.29% |
| UVIX | 2x Long VIX Futures ETF | -10.20% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | -7.25% |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -4.96% |
| VIXY | ProShares VIX Short-Term Futures ETF | -4.34% |
Analyzing the Weekly Flows
The Alternatives channel attracted $295 million in net inflows over the past week. Managed Futures was the primary driver of this activity, pulling in $253 million from investors. Long Volatility strategies also saw positive interest, gathering $59 million. In contrast, Short Volatility products were the only group to see net redemptions, with outflows totaling $30 million.
Absolute Return Flows Summary
| Absolute Return | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Managed Futures | 16 | $7.81B | $253M | $432M | $1,110M | $2,898M | $3,906M |
| Multi-Strategy | 12 | $2.82B | $13M | $117M | $381M | $886M | $1,135M |
| Event Driven | 8 | $424M | $1M | -$5M | -$3M | -$31M | -$1M |
Volatility Flows Summary
| Volatility | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Vol – Long | 6 | $1.39B | $59M | $84M | $290M | $138M | $740M |
| Vol – Short | 5 | $1.01B | -$30M | -$61M | -$214M | -$162M | -$488M |
Top & Bottom 5 ETFs by 5-Day Flow
The iMGP DBi Managed Futures Strategy ETF, DBMF, led all funds with significant inflows of $160 million. Following at a distance was the iPath Series B S&P 500 VIX Short-Term Futures ETN, VXX, which collected $58 million. On the redemption side, the ProShares Short VIX Short-Term Futures ETF, SVXY, saw the largest outflow at $25 million, followed by the ProShares VIX Mid-Term Futures ETF, VIXM, with $14 million in outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| DBMF | iMGP DBi Managed Futures Strategy ETF | $160M |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | $58M |
| KMLM | KraneShares Mount Lucas Managed Futures Index Strategy ETF | $40M |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | $27M |
| FFUT | Fidelity Managed Futures ETF | $23M |
| Outflows | ||
| SVXY | ProShares Short VIX Short-Term Futures ETF | -$25M |
| VIXM | ProShares VIX Mid-Term Futures ETF | -$14M |
| SVIX | -1x Short VIX Futures ETF | -$12M |
| UVIX | 2x Long VIX Futures ETF | -$8M |
| VIXY | ProShares VIX Short-Term Futures ETF | -$7M |
Issuer League Table Update
The issuer landscape is led by iM, which holds a 30.73% market share, and Simplify, with a 15.78% share of channel assets. This week, iM captured the largest net inflow, bringing in $160 million entirely through its flagship managed futures fund. Volatility Shares experienced the largest net outflow among issuers, with investors pulling $20 million from its products.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iM | 1 | $4.14B | 30.73% |
| Simplify | 5 | $2.12B | 15.78% |
| New York Life Investments | 2 | $1.26B | 9.35% |
| Franklin | 1 | $1.04B | 7.72% |
| ProShares | 6 | $767M | 5.70% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iM | $160M |
| iPath | $60M |
| KraneShares | $40M |
| Outflows | |
| Volatility Shares | -$20M |
| ProShares | -$18M |
| Virtus | -$1M |
For a deeper dive into these trends, access our FREE, in-depth Alternative 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.
