Weekly Channel Summary
The Synthetic Income channel closed the week with $157.5B in total Assets Under Management (AUM) across 310 ETFs from 62 issuers. The channel generated $661M in net inflows for the past week. Looking at the longer-term trends, the channel has attracted $62.0B in Year-to-Date (YTD) flows and $69.7B over the past year.
This Week’s Performance Leaders and Laggards
Performance this week was notably divergent, with option income strategies managing volatility while crypto-linked synthetic income funds faced significant pressure.
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing ETF was the YieldMax Ultra Short Option Income Strategy ETF (SLTY), posting a 3.67% return for the week. On the downside, crypto volatility weighed heavily, with the Defiance Leveraged Long Income Ethereum ETF (ETHI) dropping -50.91% and the Roundhill Ether Covered Call Strategy ETF (YETH) falling -27.96%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| SLTY | YieldMax Ultra Short Option Income Strategy ETF | 3.67% |
| YQQQ | YieldMax Short N100 Option Income Strategy ETF | 2.88% |
| XLVI | Health Care Select Sector SPDR Premium Income Fund | 1.20% |
| DJIA | Global X Dow 30 Covered Call ETF | 0.99% |
| DOGG | FT Vest DJIA Dogs 10 Target Income ETF | 0.68% |
| Bottom Performers | ||
| ETHI | Defiance Leveraged Long Income Ethereum ETF | -50.91% |
| YETH | Roundhill Ether Covered Call Strategy ETF | -27.96% |
| BAGY | Amplify Bitcoin Max Income Covered Call ETF | -23.59% |
| MAXI | Simplify Bitcoin Strategy PLUS Income ETF | -15.43% |
| ETCO | Grayscale Ethereum Covered Call ETF | -10.62% |
Analyzing the Weekly Flows
The channel saw positive momentum with $661M in total net flows this week. The Synthetic Income – Equity category led the way, gathering $711M in inflows on a base of $138.9B AUM. The Fixed Income category also saw healthy activity with significant inflows. Conversely, the Synthetic Income – Single Stock category experienced the largest outflows, shedding $143M for the week.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Synthetic Income – Equity | 154 | $138,891M | $711M | $2,859M | $9,867M | $44,269M | $49,915M |
| Synthetic Income – Fixed Income | 18 | $4,407M | $53M | $316M | $706M | $1,386M | $1,349M |
| Synthetic Income – Commodity | 12 | $1,476M | $20M | $107M | $381M | $642M | $660M |
| Synthetic Income – Crypto | 19 | $1,571M | $19M | $282M | $880M | $1,967M | $2,099M |
| Synthetic Income – Multi-Asset | 3 | $180M | $0M | ($4M) | $3M | $26M | $30M |
| Synthetic Income – Single Stock | 88 | $10,975M | ($143M) | $638M | $2,220M | $13,730M | $15,644M |
Top & Bottom 5 ETFs by 5-Day Flow
The NEOS Nasdaq 100 High Income ETF (QQQI) led inflows this week, gathering $215M. On the other side, the YieldMax Ultra Option Income Strategy ETF (ULTY) and the YieldMax Universe Fund of Option Income ETFs (YMAX) saw the largest outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| QQQI | NEOS Nasdaq 100 High Income ETF | $215M |
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | $125M |
| SPYI | NEOS S&P 500 High Income ETF | $123M |
| GPIQ | Goldman Sachs Nasdaq-100 Premium Income ETF | $61M |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | $58M |
| Outflows | ||
| ULTY | YieldMax Ultra Option Income Strategy ETF | ($174M) |
| YMAX | YieldMax Universe Fund of Option Income ETFs | ($43M) |
| WPAY | Roundhill WeeklyPay Universe ETF | ($20M) |
| KNG | FT Vest S&P 500 Dividend Aristocrats Target Income ETF | ($19M) |
| XYLD | Global X S&P 500 Covered Call ETF | ($10M) |
Issuer League Table Update
JPMorgan and Neos continue to lead the issuer field by market share. Neos gathered the most in weekly inflows with $397M, while YieldMax saw the largest outflows among top-tier issuers.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 3 | $70.45B | 44.72% |
| Neos | 13 | $15.16B | 9.62% |
| Global X | 15 | $12.44B | 7.90% |
| YieldMax | 60 | $12.10B | 7.68% |
| FT Vest | 11 | $7.46B | 4.73% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Neos | $397M |
| JPMorgan | $164M |
| Goldman Sachs | $119M |
| Outflows | |
| YieldMax | ($350M) |
| GraniteShares | ($21M) |
| Roundhill | ($13M) |
For a deeper dive into these trends, access our FREE, in-depth 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.
