Weekly Channel Summary
The Alternative ETF channel currently encompasses 48 ETFs managed by 28 issuers, representing a total AUM of $13.1B. Over the past 5 days, the channel experienced solid positive momentum, pulling in net flows of $147M. Year-to-date, the channel has accumulated $3.01B in new assets, contributing to a robust 1-year flow total of $6.02B. This steady pace of asset gathering underscores sustained investor appetite for alternative and non-correlated strategies in the current market environment.
This Week’s Performance Leaders and Laggards
A sharp inverse relationship dictated alternative performance this week, specifically within the volatility space. The Volatility – Short category led the upside, climbing +3.69% for the week, though it still remains slightly negative for the year at -1.62% YTD. Conversely, the Volatility – Long category took a massive hit, plummeting -7.52% and pushing its YTD drawdown to -10.55%. Among the Absolute Return categories, Event Driven was the sole pocket of positive performance, edging out a modest weekly gain of +0.03%.
Absolute Return Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Absolute Return – Event Driven | 0.03% | 0.36% | 1.09% | 2.03% | 1.79% | 6.23% |
| Absolute Return – Multi-Strategy | -0.12% | -2.15% | -3.04% | 0.11% | 0.33% | 11.68% |
| Absolute Return – Managed Futures | -1.53% | -1.02% | 3.40% | 13.79% | 12.19% | 24.32% |
Volatility Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Alternative: Volatility – Short | 3.69% | 6.18% | 3.89% | 6.28% | -1.62% | 29.33% |
| Alternative: Volatility – Long | -7.52% | -12.51% | -16.43% | -24.75% | -10.55% | -48.09% |
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing ETF this week was the SVIX (-1x Short VIX Futures ETF), which surged +9.43%, directly benefiting from the strength in the Volatility – Short segment. On the other end of the spectrum, the two worst-performing funds were the UVIX (2x Long VIX Futures ETF), which cratered -17.35% amid the Volatility – Long selloff, and the QIS (Simplify Multi-QIS Alternative ETF), which dropped -12.30%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| SVIX | -1x Short VIX Futures ETF | 9.43% |
| WZRD | Opportunistic Trader ETF | 8.33% |
| SVXY | ProShares Short VIX Short-Term Futures ETF | 3.02% |
| ZVOL | Volatility Premium Plus ETF | 2.89% |
| VYLD | Inverse Vix Short-Term Futures ETN | 1.83% |
| Bottom Performers | ||
| UVIX | 2x Long VIX Futures ETF | -17.35% |
| QIS | Simplify Multi-QIS Alternative ETF | -12.30% |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -8.75% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | -8.66% |
| CTA | Simplify Managed Futures Strategy ETF | -6.37% |
Analyzing the Weekly Flows
Net flows for the week totaled $147M across the channel. The Absolute Return – Managed Futures category proved to be the biggest magnet for capital, gathering $196M. Notably, this influx occurred despite the category posting a negative -1.53% weekly return, pointing to contrarian buying or strategic rebalancing by investors. Conversely, the Volatility – Long category suffered the steepest asset drain with ($32M) in outflows; given the category’s abysmal -7.52% performance this week, this heavily suggests investor capitulation rather than standard profit-taking from a well-performing asset.
Absolute Return Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Absolute Return – Managed Futures | 16 | $7.4B | $196M | $547M | $1,336M | $2,303M | $3,420M |
| Absolute Return – Multi-Strategy | 12 | $2.5B | $4M | $208M | $488M | $524M | $746M |
| Absolute Return – Event Driven | 9 | $0.4B | $0M | ($1M) | ($19M) | ($35M) | ($8M) |
Volatility Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Alternative: Volatility – Short | 5 | $1.1B | ($21M) | ($112M) | $30M | ($58M) | ($711M) |
| Alternative: Volatility – Long | 6 | $1.7B | ($32M) | $425M | $384M | $273M | $2,577M |
Top & Bottom 5 ETFs by 5-Day Flow
Drilling down to individual products, the AHLT (American Beacon AHL Trend ETF) claimed the top spot by gathering $88M in weekly inflows. On the outflow side, the top two bleeding ETFs were the SVIX (-1x Short VIX Futures ETF) losing ($21M), and the VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) shedding ($16M). It’s particularly notable that SVIX saw massive asset withdrawals despite being the week’s best-performing ETF, strongly indicating profit-taking behavior from its investors.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| AHLT | American Beacon AHL Trend ETF | $88M |
| DBMF | IMGP DBi Managed Futures Strategy ETF | $82M |
| CTA | Simplify Managed Futures Strategy ETF | $16M |
| KMLM | KraneShares Mount Lucas Managed Futures Index Strategy ETF | $4M |
| FAAR | First Trust Alternative Absolute Return Strategy ETF | $3M |
| Outflows | ||
| SVIX | -1x Short VIX Futures ETF | ($21M) |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | ($16M) |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | ($14M) |
| VIXM | ProShares VIX Mid-Term Futures ETF | ($3M) |
| ASMF | Virtus AlphaSimplex Managed Futures ETF | ($1M) |
Issuer League Table Update
The competitive landscape for Alternative ETFs is heavily concentrated at the top. The top two issuers command nearly half of the entire channel: iM holds the leading spot with a 29.84% market share and $3.90B in total AUM, followed closely by Simplify, which maintains 16.87% market share and $2.21B in AUM across its 5 products. This week, American Beacon was the standout for attracting assets, pulling in the most weekly inflows at $88M. On the flip side, Volatility Shares felt the largest drain, experiencing -$21M in net outflows.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iM | 1 | $3.90B | 29.84% |
| Simplify | 5 | $2.21B | 16.87% |
| New York Life Investments | 2 | $1.25B | 9.52% |
| ProShares | 6 | $0.99B | 7.56% |
| Franklin | 1 | $0.91B | 6.96% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| American Beacon | $88M |
| iM | $82M |
| Simplify | $16M |
| Outflows | |
| Volatility Shares | -$21M |
| ProShares | -$17M |
| iPath | -$16M |
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.
