Weekly Channel Summary
The Alternative ETF channel encompasses 47 ETFs managed across 28 different issuers, holding a combined Total AUM of $13.2B. This week, the space saw net inflows of $225M. This ongoing accumulation of assets brings the YTD channel flow to $2.86B and the 1-Year Flow to an impressive $5.73B, signaling robust, sustained investor appetite for alternative strategies within the ETF wrapper over the past 12 months.
This Week’s Performance Leaders and Laggards
The inverse performance relationship between the Volatility categories was on full display this week. Volatility – Short posted a positive WTD return of 2.43% (despite being down -4.98% YTD), while Volatility – Long struggled, dropping -5.54% for the week (pushing its YTD loss to -3.70%). Among the Absolute Return categories, Absolute Return – Event Driven was the sole category to eke out a positive WTD gain at 0.05%.
Absolute Return Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Absolute Return – Event Driven | 0.05% | 0.37% | 1.09% | 2.17% | 1.76% | 6.68% |
| Absolute Return – Managed Futures | -0.68% | 2.23% | 6.84% | 17.93% | 14.02% | 25.74% |
| Absolute Return – Multi-Strategy | -1.27% | -0.80% | -2.43% | 1.16% | 0.66% | 12.03% |
Volatility Category Performance
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Alternative: Volatility – Short | 2.43% | 4.52% | -1.01% | 10.41% | -4.98% | 23.63% |
| Alternative: Volatility – Long | -5.54% | -9.87% | -8.26% | -30.15% | -3.70% | -45.95% |
Top & Bottom 5 ETFs by Weekly Performance
Drilling down to individual fund performance, the best-performing ETF for the week was the SVIX (-1x Short VIX Futures ETF), gaining 5.55%, directly benefiting from the strength in the short volatility trade. Conversely, the two worst-performing ETFs were WZRD (Opportunistic Trader ETF), which plummeted -13.01%, and UVIX (2x Long VIX Futures ETF) at -11.04%, deeply impaired by the weakness in long volatility positioning.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| SVIX | -1x Short VIX Futures ETF | 5.55% |
| SVXY | ProShares Short VIX Short-Term Futures ETF | 2.85% |
| HF | DGA Core Plus Absolute Return ETF | 1.63% |
| ZVOL | Volatility Premium Plus ETF | 1.52% |
| VYLD | Inverse Vix Short-Term Futures ETN | 1.23% |
| Bottom Performers | ||
| WZRD | Opportunistic Trader ETF | -13.01% |
| UVIX | 2x Long VIX Futures ETF | -11.04% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | -8.26% |
| QIS | Simplify Multi-QIS Alternative ETF | -6.07% |
| VIXY | ProShares VIX Short-Term Futures ETF | -5.51% |
Analyzing the Weekly Flows
Investors added a net $225M to Alternative ETFs over the past 5 days. The most favored category by a wide margin was Absolute Return – Managed Futures, gathering $186M (bringing its YTD haul over $2.1B). Interestingly, we observed contrarian behavior in the volatility trades. Volatility – Long brought in $72M despite being the worst-performing category this week, signaling buyers stepping into the dip. At the same time, Volatility – Short saw the largest net outflows at ($35M), indicating deliberate profit-taking from investors cashing out on the category’s strong weekly performance (+2.43%). Among the remaining Absolute Return categories, Multi-Strategy took in a modest $2M while Event Driven flows were flat at $0M.
Absolute Return Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Absolute Return – Managed Futures | 16 | $7.3B | $186M | $368M | $1,670M | $2,107M | $3,218M |
| Absolute Return – Multi-Strategy | 11 | $2.4B | $2M | $345M | $510M | $520M | $740M |
| Absolute Return – Event Driven | 9 | $0.4B | $0M | ($6M) | ($18M) | ($35M) | ($6M) |
Volatility Category Flows
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Alternative: Volatility – Long | 6 | $1.9B | $72M | $495M | $454M | $306M | $2,492M |
| Alternative: Volatility – Short | 5 | $1.1B | ($35M) | ($111M) | $14M | ($37M) | ($715M) |
Top & Bottom 5 ETFs by 5-Day Flow
On a product level, DBMF (IMGP DBi Managed Futures Strategy ETF) led the entire channel by gathering a massive $148M in new assets over just 5 days, continuing its strong YTD momentum. On the flip side, the largest capital destruction came via outflows in UVXY (ProShares Ultra VIX Short-Term Futures ETF) dropping -$30M, and SVIX (-1x Short VIX Futures ETF) losing -$24M.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| DBMF | IMGP DBi Managed Futures Strategy ETF | $148M |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | $81M |
| UVIX | 2x Long VIX Futures ETF | $22M |
| KMLM | KraneShares Mount Lucas Managed Futures Index Strategy ETF | $9M |
| CTA | Simplify Managed Futures Strategy ETF | $9M |
| Outflows | ||
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | ($30M) |
| SVIX | -1x Short VIX Futures ETF | ($24M) |
| SVOL | Simplify Volatility Premium ETF | ($11M) |
| HDG | ProShares Hedge Replication ETF | ($2M) |
| VIXM | ProShares VIX Mid-Term Futures ETF | ($1M) |
Issuer League Table Update
iM maintains dominance as the top issuer in the space with 29.08% market share and $3.83B in AUM, fueled further by claiming the most weekly inflows ($148M). In the number two slot, Simplify holds 17.37% share with $2.29B in AUM. Conversely, ProShares experienced the largest structural bleed among issuers this week, with net outflows reaching -$33M across its ETF lineup.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iM | 1 | $3.83B | 29.08% |
| Simplify | 4 | $2.29B | 17.37% |
| New York Life Investments | 2 | $1.24B | 9.40% |
| ProShares | 6 | $1.08B | 8.17% |
| Franklin | 1 | $0.91B | 6.89% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iM | $148M |
| iPath | $81M |
| First Trust | $10M |
| Outflows | |
| ProShares | -$33M |
| Volatility Shares | -$2M |
| Simplify | -$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.
