Weekly Channel Summary
The Synthetic Income ETF channel continued its growth trajectory this week, with total assets under management reaching $161 billion across 265 ETFs from 58 different issuers. The channel saw a net inflow of $1.17 billion over the past five trading days, contributing to a robust year-to-date net flow of $55.84 billion. Over the past year, the channel has attracted a significant $70.33 billion in new assets, underscoring sustained investor interest in synthetic income strategies.
This Week’s Performance Leaders and Laggards
The performance landscape for Synthetic Income ETFs was largely driven by underlying exposure to digital assets this week. ETFs with strategies tied to Bitcoin dominated the top performers list, capturing significant gains. On the other end of the spectrum, ETFs with exposure to the energy sector, particularly oil, faced headwinds and populated the bottom performers list.
Top & Bottom 5 ETFs by Weekly Performance
The standout performer this week was the Simplify Bitcoin Strategy PLUS Income ETF (MAXI), which delivered an impressive 20.59% return. Conversely, the Defiance Oil Enhanced Options Income ETF (USOY) was the worst performer with a -6.67% return, closely followed by the YieldMax Ultra Short Option Income Strategy ETF (SLTY), which posted a loss of -5.34% for the week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| MAXI | Simplify Bitcoin Strategy PLUS Income ETF | 20.59% |
| BLOX | Nicholas Crypto Income ETF | 15.07% |
| BTCI | NEOS Bitcoin High Income ETF | 10.32% |
| BPI | Grayscale Bitcoin Premium Income ETF | 10.14% |
| DFII | FT Vest Bitcoin Strategy & Target Income ETF | 9.87% |
| Bottom Performers | ||
| USOY | Defiance Oil Enhanced Options Income ETF | -6.67% |
| SLTY | YieldMax Ultra Short Option Income Strategy ETF | -5.34% |
| USOI | UBS AG ETRACS Crude Oil Shares Covered Call ETNs due Apr.. | -5.14% |
| WEEI | Westwood Salient Enhanced Energy Income ETF | -2.19% |
| XLEI | Energy Select Sector SPDR Premium Income Fund | -1.92% |
Analyzing the Weekly Flows
The Synthetic Income channel attracted a total of $1.166 billion in net flows this past week. The dominant category was Synthetic Income – Equity, which pulled in $925 million and holds a commanding $139.09 billion in total AUM. Other categories also saw positive interest, with Synthetic Income – Fixed Income gathering a respectable $96 million. There were no categories with significant outflows this week, indicating broad-based investor appetite across the channel’s strategies.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Synthetic Income – Equity | 144 | $139,089M | $925M | $3,903M | $13,752M | $40,382M | $51,099M |
| Synthetic Income – Fixed Income | 18 | $4,052M | $96M | $193M | $479M | $1,006M | $1,166M |
| Synthetic Income – Single Stock | 71 | $14,339M | $86M | $547M | $3,686M | $12,375M | $15,725M |
| Synthetic Income – Crypto | 14 | $1,830M | $30M | $362M | $960M | $1,577M | $1,734M |
| Synthetic Income – Commodity | 10 | $1,271M | $28M | $168M | $287M | $453M | $545M |
| Synthetic Income – Multi-Asset | 3 | $190M | $1M | $8M | $14M | $31M | $42M |
Top & Bottom 5 ETFs by 5-Day Flow
On an individual ETF basis, the JPMorgan NASDAQ Equity Premium Income ETF (JEPQ) was the clear winner, attracting an impressive $439 million in new assets. On the flip side, the Global X NASDAQ 100 Covered Call ETF (QYLD) experienced the largest outflows, shedding $75 million, followed by the YieldMax Ultra Option Income Strategy ETF (ULTY) with outflows of $52 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | $439M |
| QQQI | NEOS Nasdaq 100 High Income ETF | $129M |
| GPIQ | Goldman Sachs Nasdaq-100 Premium Income ETF | $99M |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | $79M |
| TLTW | iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | $52M |
| Outflows | ||
| QYLD | Global X NASDAQ 100 Covered Call ETF | ($75M) |
| ULTY | YieldMax Ultra Option Income Strategy ETF | ($52M) |
| XYLD | Global X S&P 500 Covered Call ETF | ($40M) |
| YMAX | YieldMax Universe Fund of Option Income ETFs | ($24M) |
| KNG | FT Vest S&P 500 Dividend Aristocrats Target Income ETF | ($22M) |
Issuer League Table Update
JPMorgan continues to dominate the issuer landscape, commanding a 44.91% market share, followed by YieldMax at 11.34%. This week, JPMorgan also led in asset gathering, pulling in $419 million in net inflows. Among the top-tier issuers, Global X experienced the largest outflows for the week, with a reduction of $123 million in assets.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 3 | $72.22B | 44.91% |
| YieldMax | 55 | $18.24B | 11.34% |
| Neos | 13 | $13.64B | 8.48% |
| Global X | 15 | $12.86B | 8.00% |
| FT Vest | 11 | $7.44B | 4.62% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| JPMorgan | $419M |
| Neos | $214M |
| Roundhill | $181M |
| Outflows | |
| YieldMax | -$172M |
| Global X | -$123M |
| Pacer | -$10M |
For a deeper dive into these trends, access our FREE, in-depth Thematic 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.
