Weekly Channel Summary
The Synthetic Income channel encompasses 400 ETFs from 73 issuers, with total assets under management standing at $206.93 billion. The channel continued its strong asset-gathering trend, attracting $2.40 billion in net inflows over the past week. Year-to-date flows have now reached $40.40 billion, while the one-year total stands at an impressive $73.98 billion.
This Week’s Performance Leaders and Laggards
Single Stock ETFs delivered standout returns this week, surging 5.22% to lead all categories. This performance contrasts with their negative one-month return, highlighting recent volatility. The much larger Equity category also posted a solid gain of 1.27%, bringing its year-to-date return to 8.00%. At the other end of the spectrum, Fixed Income was the only category to finish in the red, declining by a modest 0.39%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Single Stock | 5.22% | -6.59% | 14.86% | 4.45% | 5.47% | 17.33% |
| Crypto | 2.85% | -8.85% | -9.43% | -30.19% | -28.60% | -40.13% |
| Equity | 1.27% | 0.12% | 8.74% | 7.79% | 8.00% | 18.12% |
| Commodity | 1.23% | -11.37% | -9.54% | -1.94% | -1.65% | 19.26% |
| Multi-Asset | 0.37% | -0.77% | 6.65% | 5.49% | 5.64% | 18.01% |
| Fixed Income | -0.39% | 0.46% | 0.99% | 2.28% | 2.25% | 6.16% |
Top & Bottom 5 ETFs by Weekly Performance
Funds offering synthetic income strategies on a single underlying stock dominated the performance charts, led by the Defiance Leveraged Long Income MSTR ETF (MST) which soared 39.53%. In fact, the top five best-performing funds were all linked to the same company, showcasing a highly concentrated theme. Conversely, the YieldMax MSTR Short Option Income Strategy ETF (WNTR) was the worst performer with a loss of 15.07%, demonstrating the risk on the opposite side of the trade. Several other crypto-related income funds also populated the bottom performers list for the week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| MST | Defiance Leveraged Long Income MSTR ETF | 39.53% |
| MSTW | Roundhill MSTR WeeklyPay ETF | 25.89% |
| MSR | GraniteShares Autocallable MSTR ETF | 24.32% |
| MSST | YieldMax MSTR Performance & Distribution Target 25 ETF | 20.78% |
| MSTY | YieldMax MSTR Option Income Strategy ETF | 19.12% |
| Bottom Performers | ||
| WNTR | YieldMax MSTR Short Option Income Strategy ETF | -15.07% |
| MARO | YieldMax MARA Option Income Strategy ETF | -12.66% |
| BLOX | Nicholas Crypto Income ETF | -9.94% |
| SMCY | YieldMax SMCI Option Income Strategy ETF | -9.81% |
| IMRA | Bitwise MARA Option Income Strategy ETF | -9.56% |
Analyzing the Weekly Flows
Investors allocated nearly $2.4 billion in net new assets to the Synthetic Income channel this week. Equity-focused strategies were the primary destination for this capital, attracting the vast majority of flows with over $2.3 billion. All other categories, including Fixed Income and Crypto, also experienced modest positive inflows. This week’s activity continues a powerful trend for Equity synthetic income funds, which have now accumulated over $36.8 billion year-to-date.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Equity | 219 | $189.60B | $2,303M | $5,291M | $17,851M | $36,865M | $60,942M |
| Fixed Income | 25 | $5.70B | $38M | $152M | $612M | $1,112M | $2,204M |
| Crypto | 24 | $1.57B | $22M | $106M | $479M | $840M | $2,194M |
| Single Stock | 111 | $7.46B | $19M | $199M | $890M | $392M | $6,751M |
| Commodity | 15 | $2.14B | $7M | $188M | $447M | $962M | $1,640M |
| Multi-Asset | 6 | $450M | $6M | $12M | $53M | $229M | $252M |
Top & Bottom 5 ETFs by 5-Day Flow
The JPMorgan NASDAQ Equity Premium Income ETF (JEPQ) was the week’s most popular fund, gathering $562 million in net inflows. Its sibling fund, the JPMorgan Equity Premium Income ETF (JEPI), also saw strong demand, adding $225 million. On the redemption side, the Global X NASDAQ 100 Covered Call ETF (QYLD) experienced the largest outflows at $43 million. The ProShares Nasdaq-100 High Income ETF (IQQQ) followed with smaller outflows of $7 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | $562M |
| JEPI | JPMorgan Equity Premium Income ETF | $225M |
| GPIQ | Goldman Sachs Nasdaq-100 Premium Income ETF | $214M |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | $185M |
| ACYN | FT Vest Laddered Autocallable Barrier & Income ETF | $140M |
| Outflows | ||
| QYLD | Global X NASDAQ 100 Covered Call ETF | -$43M |
| IQQQ | ProShares Nasdaq-100 High Income ETF | -$7M |
| ISPY | ProShares S&P 500 High Income ETF | -$7M |
| KLIP | KraneShares KWEB Covered Call Strategy ETF | -$6M |
| KNG | FT Vest S&P 500 Dividend Aristocrats Target Income ETF | -$5M |
Issuer League Table Update
JPMorgan maintains its commanding lead in the Synthetic Income space, holding 41.32% of the market share, followed by Neos with a 14.40% share. Reinforcing its dominant position, JPMorgan also led all issuers in asset gathering this week, attracting $818 million in net new capital. Goldman Sachs also had a strong week, bringing in $398 million. In contrast, Global X recorded the largest net outflows among issuers, with redemptions totaling $30 million for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 5 | $85.50B | 41.32% |
| Neos | 18 | $29.79B | 14.40% |
| Global X | 17 | $13.40B | 6.48% |
| Goldman Sachs | 2 | $9.72B | 4.70% |
| FT Vest | 17 | $9.60B | 4.64% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| JPMorgan | $818M |
| Goldman Sachs | $398M |
| Neos | $238M |
| Outflows | |
| Global X | -$30M |
| ProShares | -$13M |
| GraniteShares | -$7M |
For a deeper dive into these trends, access our FREE, in-depth Synthetic Income 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.
