Weekly Channel Summary
The Synthetic Income channel maintained its growth trajectory this week, ending with $163B in total assets under management across 303 ETFs from 61 issuers. The channel attracted $1.3B in net inflows over the past 5 days, bringing the Year-to-Date flow total to a robust $60.8B, with a 1-year haul of $71B.
This Week’s Performance Leaders and Laggards
Performance this week was mixed, with specialized option income strategies seeing modest gains while cryptocurrency-linked synthetic income funds faced significant headwinds, dominating the list of laggards.
Top & Bottom 5 ETFs by Weekly Performance
The YieldMax Ultra Short Option Income Strategy ETF (SLTY) led the pack with a 3.53% return. Conversely, Ethereum-focused strategies suffered, with Defiance Leveraged Long Income Ethereum ETF (ETHI) down -21.42% and Roundhill Ether Covered Call Strategy ETF (YETH) falling -19.87%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| SLTY | YieldMax Ultra Short Option Income Strategy ETF | 3.53% |
| FTKI | First Trust Small Cap BuyWrite Income ETF | 2.77% |
| YQQQ | YieldMax Short N100 Option Income Strategy ETF | 2.46% |
| MLPD | Global X MLP & Energy Infrastructure Covered Call ETF | 1.96% |
| MDST | Westwood Salient Enhanced Midstream Income ETF | 1.90% |
| Bottom Performers | ||
| ETHI | Defiance Leveraged Long Income Ethereum ETF | -21.42% |
| YETH | Roundhill Ether Covered Call Strategy ETF | -19.87% |
| IETH | Bitwise Ethereum Option Income Strategy ETF | -14.33% |
| EHY | Amplify Ethereum Max Income Covered Call ETF | -11.42% |
| ETTY | Amplify Ethereum 3% Monthly Option Income ETF | -11.11% |
Analyzing the Weekly Flows
The channel saw a healthy $1.3B in total net inflows this week, with positive momentum across all major categories. ‘Synthetic Income – Equity’ attracted the lion’s share with $618M (holding $141.5B in total AUM), while ‘Synthetic Income – Crypto’ also saw significant demand, gathering $372M.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Synthetic Income – Equity | 150 | $141,476M | $618M | $2,517M | $9,970M | $43,041M | $50,518M |
| Synthetic Income – Crypto | 19 | $1,867M | $372M | $627M | $1,290M | $2,212M | $2,352M |
| Synthetic Income – Single Stock | 81 | $13,452M | $253M | $1,153M | $2,514M | $13,643M | $16,177M |
| Synthetic Income – Fixed Income | 18 | $4,270M | $53M | $250M | $641M | $1,261M | $1,249M |
| Synthetic Income – Commodity | 11 | $1,371M | $8M | $97M | $345M | $567M | $582M |
| Synthetic Income – Multi-Asset | 3 | $192M | $1M | $2M | $9M | $34M | $43M |
Top & Bottom 5 ETFs by 5-Day Flow
Roundhill Bitcoin Covered Call Strategy ETF (YBTC) was the clear winner for inflows this week, pulling in $290M. On the other side, YieldMax Ultra Option Income Strategy ETF (ULTY) and Global X NASDAQ 100 Covered Call ETF (QYLD) saw the largest exits.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| YBTC | Roundhill Bitcoin Covered Call Strategy ETF | $290M |
| QQQI | NEOS Nasdaq 100 High Income ETF | $217M |
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | $114M |
| WPAY | Roundhill WeeklyPay Universe ETF | $100M |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | $99M |
| Outflows | ||
| ULTY | YieldMax Ultra Option Income Strategy ETF | ($252M) |
| QYLD | Global X NASDAQ 100 Covered Call ETF | ($98M) |
| JEPI | JPMorgan Equity Premium Income ETF | ($36M) |
| XYLD | Global X S&P 500 Covered Call ETF | ($18M) |
| KNG | FT Vest S&P 500 Dividend Aristocrats Target Income ETF | ($10M) |
Issuer League Table Update
JPMorgan continues to dominate the channel with 44.05% market share, followed by YieldMax at 9.48%. Roundhill took the top spot for weekly inflows, gathering $568M, while YieldMax, despite being a top-tier issuer by AUM, experienced the largest outflows of -$205M this week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 3 | $71.66B | 44.05% |
| YieldMax | 57 | $15.43B | 9.48% |
| Neos | 13 | $14.92B | 9.17% |
| Global X | 15 | $12.74B | 7.83% |
| FT Vest | 11 | $7.46B | 4.59% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Roundhill | $568M |
| Neos | $363M |
| Goldman Sachs | $168M |
| Outflows | |
| YieldMax | -$205M |
| Global X | -$117M |
| Bitwise | -$2M |
For a deeper dive into these trends, access our FREE, in-depth Synthetic Income 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.
