Weekly Channel Summary
The Alternatives channel closed the week with $22.72B in total AUM spread across 52 ETFs from 29 issuers. Weekly net flows were slightly negative at $-68M, a modest pullback against a strong longer-term trend. Year-to-date net flows stand at $12,824M, and trailing 1-Year net flows total $13,050M, underscoring sustained investor demand for alternative strategies despite the recent weekly dip.
This Week’s Performance Leaders and Laggards
Managed Futures led all absolute return categories this week with a 2.44% WTD gain, extending a robust 14.64% YTD and 16.81% 1-Year return, even as its 1-Month return remains negative at -3.65%. Multi-Strategy also posted a positive week at 1.09% WTD, while Event Driven lagged with a modest 0.16% gain. On the volatility side, Vol – Short was the standout performer at 5.92% WTD, while Vol – Long suffered a steep -16.64% WTD decline, compounding a brutal -35.69% YTD and -52.01% 1-Year loss. Among individual funds, SVIX topped the leaderboard with a 14.70% weekly gain, while WZRD was the week’s worst performer, falling 41.00%.
Absolute Return Performance Snapshot
| Absolute Return | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Managed Futures | 2.44% | -3.65% | 3.09% | 1.49% | 14.64% | 16.81% |
| Multi-Strategy | 1.09% | -2.49% | -0.16% | 2.56% | 13.04% | 9.01% |
| Event Driven | 0.16% | 0.24% | 0.39% | 1.45% | 3.15% | 3.52% |
Volatility Performance Snapshot
| Volatility | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Vol – Short | 5.92% | -11.31% | -3.81% | 10.86% | 2.63% | 13.76% |
| Vol – Long | -16.64% | 11.44% | -8.12% | -38.89% | -35.69% | -52.01% |
Top & Bottom 5 ETFs by Weekly Performance
The fund-level dispersion this week was wide, reflecting the volatility regime shift embedded in the category data. SVXY gained 7.31% and AHLT added 5.47%, both benefiting from the managed futures and short-volatility tailwinds. On the downside, long-volatility products dominated the bottom of the leaderboard, with UVIX down 30.18% and UVXY down 22.05%. VXX rounded out the laggards with a 14.67% weekly loss, consistent with the sharp Vol – Long category drawdown. These moves highlight the inverse relationship between short and long volatility exposures during the week’s market conditions.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| SVIX | -1x Short VIX Futures ETF | 14.70% |
| SVXY | ProShares Short VIX Short-Term Futures ETF | 7.31% |
| AHLT | American Beacon AHL Trend ETF | 5.47% |
| JPFP | JPMorgan Managed Futures Plus ETF | 4.53% |
| ASGM | Virtus AlphaSimplex Global Macro ETF | 3.51% |
| Bottom Performers | ||
| WZRD | Opportunistic Trader ETF | -41.00% |
| UVIX | 2x Long VIX Futures ETF | -30.18% |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | -22.05% |
| VIXY | ProShares VIX Short-Term Futures ETF | -14.69% |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -14.67% |
Analyzing the Weekly Flows
The channel recorded a net outflow of $-68M for the week, a modest reversal within a year that has otherwise seen strong cumulative inflows. Multi-Strategy led all segments with $124M in weekly inflows, supported by $9,112M in YTD flows, the largest contributor to the channel’s overall growth this year. Managed Futures saw the largest outflow at -$88M for the week despite strong YTD inflows of $3,812M, suggesting some near-term profit-taking after recent performance strength. Vol – Long also bled -$117M for the week, consistent with the category’s sharp price decline, while Vol – Short attracted a modest $10M inflow.
Absolute Return Flows Summary
| Absolute Return | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Multi-Strategy | 16 | $11.25B | $124M | $682M | $2,924M | $9,112M | $9,068M |
| Event Driven | 8 | $444M | $4M | $4M | $14M | -$15M | -$2M |
| Managed Futures | 17 | $9.04B | -$88M | -$377M | $1,093M | $3,812M | $4,125M |
Volatility Flows Summary
| Volatility | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Vol – Short | 5 | $1.09B | $10M | $90M | $36M | -$129M | -$171M |
| Vol – Long | 6 | $900M | -$117M | -$413M | -$294M | $45M | $31M |
Top & Bottom 5 ETFs by 5-Day Flow
At the fund level, IALT led all inflows with $95M for the week, well ahead of other gatherers. On the outflow side, VXX saw the largest redemptions at -$95M, followed by KMLM at -$50M. These outflows align with the broader weakness in long volatility and managed futures exposures noted elsewhere in the data. Smaller secondary inflows came from FLSP and FMF, each gathering around $10-13M.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| IALT | iShares Systematic Alternatives Active ETF | $95M |
| FLSP | Franklin Systematic Style Premia ETF | $13M |
| FMF | First Trust Managed Futures Strategy Fund | $10M |
| LALT | First Trust Multi-Strategy Alternative ETF | $10M |
| FAAR | First Trust Alternative Absolute Return Strategy ETF | $8M |
| Outflows | ||
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -$95M |
| KMLM | KraneShares Mount Lucas Managed Futures Index Strategy ETF | -$50M |
| CTA | Simplify Managed Futures Strategy ETF | -$22M |
| VIXY | ProShares VIX Short-Term Futures ETF | -$17M |
| AHLT | American Beacon AHL Trend ETF | -$15M |
Issuer League Table Update
iShares remains the dominant issuer in the Alternatives channel with $7.98B in AUM, a 35.13% share across just 2 funds, followed by iM at $5.16B and a 22.70% share from a single fund. iShares also led weekly inflows at $94M, reinforcing its position atop the issuer rankings, with First Trust and Franklin also posting positive flows of $29M and $13M respectively. On the outflow side, iPath suffered the largest weekly redemptions at -$95M, driven primarily by its VXX product, while KraneShares saw -$50M in outflows tied to its managed futures offering. American Beacon rounded out the outflow leaders with -$15M for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 2 | $7.98B | 35.13% |
| iM | 1 | $5.16B | 22.70% |
| Simplify | 5 | $1.84B | 8.09% |
| NYLIM | 2 | $1.26B | 5.55% |
| Franklin | 1 | $1.22B | 5.37% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $94M |
| First Trust | $29M |
| Franklin | $13M |
| Outflows | |
| iPath | -$95M |
| KraneShares | -$50M |
| American Beacon | -$15M |
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.
