Synthetic Income Steady as Equity Options Funds Lead Inflows

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Weekly Channel Summary

The Synthetic Income channel closed the week with $228.93B in total AUM spread across 434 ETFs from 80 issuers. Net flows were positive over the trailing five days at $1,305M, extending a strong 2026 with YTD inflows of $60,921M and a 1-Year net flow figure of $76,892M. This consistency in fund gathering underscores the durability of investor demand for income-oriented strategies within the space.

This Week’s Performance Leaders and Laggards

Single Stock funds led all categories on a WTD basis at 3.22%, narrowly ahead of Crypto at 3.18%, both benefiting from strong short-term momentum despite very different YTD trajectories: Single Stock is up 29.89% YTD while Crypto remains down 7.37% YTD. Equity, the channel’s largest category by fund count, posted a more modest 1.09% WTD gain but a solid 11.60% YTD return. Commodity was the weakest performer of the week at -2.11%, though it still holds a positive 6.08% YTD gain. Among individual funds, SPCI topped the tape with a 7.16% weekly gain, closely trailed by SOXY at 7.15%, while YGLD lagged the field with a -4.02% weekly decline.

Category Performance Snapshot

Category WTD 1 Month 3 Month 6 Month YTD 1 Year
Single Stock 3.22% 9.91% 30.81% 33.19% 29.89% 30.76%
Crypto 3.18% 6.91% 36.86% 14.00% -7.37% -23.72%
Equity 1.09% 0.98% 4.07% 12.29% 11.60% 16.50%
Multi-Asset 0.26% -0.30% 0.85% 7.86% 6.49% 14.35%
Fixed Income -0.66% -1.35% -1.86% -0.20% 0.66% 2.11%
Commodity -2.11% -3.77% 9.22% -0.08% 6.08% 16.92%

Top & Bottom 5 ETFs by Weekly Performance

The week’s leaderboard was dominated by semiconductor- and crypto-linked option income strategies, with SPCI and SOXY both gaining more than 7%, followed by CHPY at 6.28% and MAXI at 5.58%. On the downside, commodity- and rate-sensitive income products struggled, led by YGLD at -4.02% and NDIV at -3.86%. The spread between the top and bottom performers exceeded 11 percentage points, reflecting the wide dispersion in underlying asset exposures across the channel’s diverse option-income strategies.

Ticker Fund Name WTD Performance
Top Performers
SPCI Tuttle Capital Space Industry Income Blast ETF 7.16%
SOXY YieldMax Target 12 Semiconductor Option Income ETF 7.15%
CHPY YieldMax Semiconductor Portfolio Option Income ETF 6.28%
MAXI Simplify Bitcoin Strategy ETF 5.58%
SOLM Amplify Solana 3% Monthly Option Income ETF 5.19%
Bottom Performers
YGLD Simplify Gold Strategy ETF -4.02%
NDIV Amplify Energy & Natural Resources Covered Call ETF -3.86%
SLVX Nicholas Silver Income ETF -3.82%
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF -3.79%
MDST Westwood Salient Enhanced Midstream Income ETF -3.71%

Analyzing the Weekly Flows

The channel gathered a net $1,305M over the trailing five days, with Equity funds overwhelmingly driving activity at $1,219M, consistent with their dominant $209.09B AUM base and $55,389M YTD haul. Commodity, Fixed Income, Crypto, and Multi-Asset categories each posted modest positive inflows ranging from $3M to $42M. Single Stock was the lone category to see net outflows on the week, shedding $5M despite a robust $969M YTD inflow figure, suggesting a pause rather than a reversal in that segment’s longer-term trend. Overall, the flow pattern reaffirms Equity-based income strategies as the primary growth engine for the channel.

Category Flows Summary

Category Fund Count AUM 5 Day 30 Day 90 Day YTD 1 Year
Equity 243 $209.09B $1,219M $7,137M $21,188M $55,389M $66,981M
Commodity 17 $2.67B $42M $214M $473M $1,427M $1,862M
Fixed Income 25 $6.19B $24M $230M $709M $1,783M $2,485M
Crypto 22 $2.22B $22M $97M $257M $1,068M $1,548M
Multi-Asset 6 $501M $3M $14M $63M $286M $295M
Single Stock 121 $8.26B -$5M $278M $641M $969M $3,721M

Top & Bottom 5 ETFs by 5-Day Flow

SPYI led all funds with $166M in weekly inflows, followed closely by GPIQ at $148M and JEPQ at $136M, highlighting continued demand for large-cap and Nasdaq-100 premium income strategies. On the outflow side, QQQI saw the largest weekly redemption at -$151M, followed by BALI at -$47M. The gap between the top inflow and top outflow funds indicates some rotation within the Nasdaq-100 income space even as broader Equity income products continued to attract capital.

Ticker Fund Name 5-Day Flow
Inflows
SPYI NEOS S&P 500 High Income ETF $166M
GPIQ Goldman Sachs Nasdaq-100 Premium Income ETF $148M
JEPQ JPMorgan NASDAQ Equity Premium Income ETF $136M
GPIX Goldman Sachs S&P 500 Premium Income ETF $112M
ACYN FT Vest Laddered Autocallable Barrier & Income ETF $110M
Outflows
QQQI NEOS Nasdaq 100 High Income ETF -$151M
BALI iShares U.S. Large Cap Premium Income Active ETF -$47M
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF -$16M
PLTY YieldMax PLTR Option Income Strategy ETF -$12M
YMAX YieldMax Universe Fund of Option Income ETFs -$12M

Issuer League Table Update

JPMorgan remains the dominant issuer in the channel with $90.84B in AUM and a 39.68% market share across just 5 funds, followed by Neos at $35.54B and a 15.53% share spread across 18 funds. On a weekly flow basis, Goldman Sachs led all issuers with $261M in inflows, ahead of JPMorgan at $187M and First Trust at $164M, reflecting strong demand for premium income products from these providers. iShares was the week’s clear outflow leader, shedding $56M, while Summit Global Investments and GraniteShares saw only marginal redemptions of $2M and $1M, respectively. The concentration of inflows among a handful of large issuers contrasts with the broader base of 80 issuers competing in the channel.

Top 5 Issuers by AUM

Brand Fund Count AUM AUM Market Share
JPMorgan 5 $90.84B 39.68%
Neos 18 $35.54B 15.53%
Global X 17 $13.81B 6.03%
Goldman Sachs 2 $12.05B 5.26%
Amplify 16 $10.25B 4.48%

Top & Bottom 3 Issuers by 5-Day Flow

Brand 5-Day Flow
Inflows
Goldman Sachs $261M
JPMorgan $187M
First Trust $164M
Outflows
iShares -$56M
Summit Global Investments -$2M
GraniteShares -$1M

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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.