Macro Summary
The Buffer ETF Channel continues its impressive growth trajectory, now commanding a total Assets Under Management (AUM) of over $76.92 billion. This massive channel is currently comprised of 452 unique ETFs offered by 20 different issuers. The channel saw significant weekly momentum, recording $536 million in net flows over the last five days. This brings the year-to-date total flows to an astounding $12.895 billion, highlighting sustained investor appetite for defined outcome strategies.
Over the last year, the channel has accumulated $14.373 billion in net flows, reflecting a strong, consistent upward trend that is well-supported by the AUM growth chart. The competitive landscape remains dynamic, with 29 new Buffer ETFs launched in the last three months alone. This demonstrates rapid product innovation and increasing optionality for investors looking to manage risk and participate in market upside.
Performance
Weekly performance in the Buffer ETF space was highly idiosyncratic, as expected, with returns largely driven by the underlying asset class exposure. The strongest WTD returns were found in the Fixed Income segment, specifically Fixed Income: Taxable – Government Long, which delivered a beta tracker return of 0.69%. Conversely, underlying categories tied to high-volatility assets saw sharp declines, led by Digital Asset: Cryptocurrency – Bitcoin, which suffered a substantial WTD loss of -11.50%.
Across equity exposures, returns were broadly negative, reflecting market weakness. Emerging Markets and Asia-Pacific Emerging equity exposures were hit particularly hard, posting WTD returns of -3.19% and -3.43%, respectively. Performance across these categories underscores the role of the buffer structure in mitigating—but not eliminating—market risk. For a full analysis of performance ranges and specific ETF returns, readers can access the complete, free performance report in the right-side panel.
Flows
The overwhelming flow momentum this week was driven by the core Buffer – Equity asset class, which accounted for $524 million of the total $536 million in net flows. Implementation-wise, the quarterly reset funds (Buffer Reset: Quarterly) were the most active, attracting $277 million. The most notable individual fund flow leader was the BALT (Innovator Defined Wealth Shield ETF), which pulled in $257 million in a single week.
Flows by Asset Class
| Asset Class | # of Funds | AUM | WTD Flow | 1M Flow | 3M Flow | YTD Flow | 1Y Flow |
|---|---|---|---|---|---|---|---|
| Buffer – Commodity | 1 | $57M | ($1M) | $0M | ($27M) | ($13M) | $14M |
| Buffer – Crypto | 19 | $193M | $6M | $19M | $32M | $169M | $169M |
| Buffer – Equity | 412 | $76,080M | $524M | $1,459M | $2,670M | $12,543M | $13,993M |
| Buffer – Fixed Income | 2 | $35M | $0M | ($12M) | ($14M) | ($16M) | ($14M) |
| Buffer Synthetic Income | 18 | $556M | $7M | $32M | $73M | $212M | $210M |
Flows by Implementation (Outcome Period)
| Implementation | WTD Flow | 1M Flow | 3M Flow | YTD Flow | 1Y Flow |
|---|---|---|---|---|---|
| Inflows (Top 3) | |||||
| Buffer Reset: Quarterly | $277M | $410M | $968M | $2,687M | $2,749M |
| Buffer Reset: November | $131M | $941M | $678M | $368M | $710M |
| Buffer Reset: October | $94M | $767M | $1,528M | $1,022M | $1,268M |
| Outflows (Bottom 3) | |||||
| Buffer Reset: December | ($130M) | ($396M) | ($687M) | ($439M) | $1,248M |
| Buffer Reset: Dynamic | ($26M) | $91M | $265M | $880M | $818M |
| Buffer Reset: January | ($21M) | ($62M) | ($585M) | $1,018M | $875M |
Individual Fund Flows (WTD)
| Ticker | Fund Name | WTD Flow |
|---|---|---|
| Top 5 Inflows | ||
| BALT | Innovator Defined Wealth Shield ETF | $257M |
| TENM | iShares Large Cap 10% Target Buffer Mar ETF | $173M |
| BUFR | FT Vest Laddered Buffer ETF | $40M |
| FOCT | FT Vest U.S. Equity Buffer ETF – October | $36M |
| PNOV | Innovator U.S. Equity Power Buffer ETF – November | $25M |
| Top 5 Outflows | ||
| TEND | iShares Large Cap 10% Target Buffer Dec ETF | ($86M) |
| BUFI | AB International Buffer ETF Inti Buffer ETF | ($42M) |
| STEN | iShares Large Cap 10% Target Buffer Sep ETF | ($41M) |
| QDEC | FT Vest Nasdaq-100 Buffer ETF – December | ($14M) |
| ZALT | Innovator U.S. Equity 10 Buffer ETF – Quarterly | ($12M) |
League Tables
The competitive landscape remains dominated by the two largest issuers by AUM, FT Vest and Innovator. FT Vest maintains the lead in AUM with $37.42 billion, but Innovator was the top issuer for the week, attracting $294 million in flows compared to FT Vest’s $186 million. Together, these two issuers account for over 86% of the channel’s total AUM, reflecting significant early-mover advantage and product dominance.
Top 5 Issuers by AUM
| Issuer | # of ETFs | AUM | Market Share |
|---|---|---|---|
| FT Vest | 114 | $37.42B | 48.65% |
| Innovator | 151 | $28.74B | 37.37% |
| Allianz | 49 | $4.76B | 6.19% |
| AB Funds | 3 | $1.29B | 1.68% |
| Pacer | 13 | $1.19B | 1.55% |
Issuer Flows (WTD)
| Issuer | WTD Flow | 1M Flow | 3M Flow | YTD Flow | 1Y Flow |
|---|---|---|---|---|---|
| Inflows (Top 3) | |||||
| Innovator | $294M | $516M | $748M | $5.02B | $5.36B |
| FT Vest | $186M | $519M | $1.13B | $4.69B | $5.54B |
| iShares | $48M | $156M | $230M | $340M | $290M |
| Outflows (Bottom 3) | |||||
| AB Funds | ($26M) | $46M | $70M | $520M | $540M |
| Measured Risk Portfolios | ($10M) | $14M | $100M | $100M | $100M |
| KraneShares | $0M | $0M | $0M | $0M | $0M |
Explore the data behind the insights. This weekly recap is just the start. Access the complete, in-depth reports for FREE in the right side panel to analyze performance, track flows, and view the latest league tables.
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.
