Weekly Channel Summary
The Thematic ETF channel, encompassing 461 funds from 112 issuers, closed the week with total assets under management of $373.8 billion. The channel experienced net outflows of $1.48 billion over the past five trading days, a sharp reversal from recent trends. Despite the weekly redemption, year-to-date flows remain robust at $68.1 billion. Over the last year, investors have allocated a net $106.0 billion to thematic strategies.
This Week’s Performance Leaders and Laggards
Precious Metals funds led thematic category performance with a 5.44% weekly gain, rebounding from recent weakness though the group remains down over 12% year-to-date. On the other end of the spectrum, Health Innovation was the worst-performing category, falling 3.28% for the week. This recent dip contrasts with the category’s strong 23.52% return so far in 2026. FinTech and Natural Resources also posted solid weekly gains of 2.84% and 2.56%, respectively.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Precious Metals | 5.44% | 0.90% | -20.32% | -31.10% | -12.06% | 46.13% |
| FinTech | 2.84% | -5.72% | -2.72% | -6.47% | 4.03% | 1.80% |
| Natural Resources | 2.56% | -1.63% | -11.03% | -11.06% | 4.57% | 27.73% |
| Midstream & MLPs | 1.58% | 7.41% | 7.57% | 17.81% | 23.40% | 23.98% |
| Infrastructure | 0.98% | -2.73% | -0.44% | 11.76% | 19.15% | 27.18% |
| Industrial Revolution | 0.89% | -2.48% | -8.16% | -10.19% | 1.17% | 10.51% |
| Disruptive Tech | -1.30% | -9.90% | 18.96% | 19.25% | 22.03% | 31.88% |
| Multi-Sector | -1.64% | -3.90% | 1.03% | 3.68% | 7.81% | 15.61% |
| Evolving Consumer | -2.37% | -2.10% | -2.23% | -4.40% | -2.25% | 2.26% |
| Alternative Equity | -2.44% | 3.84% | -1.36% | -10.44% | -9.15% | -16.91% |
| Sustainability | -2.80% | -10.66% | -9.02% | -0.75% | 9.03% | 26.86% |
| Health Innovation | -3.28% | 0.61% | 20.19% | 12.96% | 23.52% | 48.03% |
Top & Bottom 5 ETFs by Weekly Performance
Digital asset-related funds dominated the top performers list, with the CoinShares Bitcoin Mining ETF (WGMI) surging 12.66%. Similarly, the Grayscale Bitcoin Miners ETF (MNRS) and Global X Blockchain ETF (BKCH) also posted strong gains above 8%. Conversely, the Corgi Battery Energy Storage Systems ETF (WATS) was the week’s laggard, declining by 10.83%. Cybersecurity funds also faced headwinds, with multiple funds from the theme appearing among the bottom performers.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| WGMI | CoinShares Bitcoin Mining ETF | 12.66% |
| MNRS | Grayscale Bitcoin Miners ETF | 9.33% |
| BKCH | Global X Blockchain ETF | 8.61% |
| GBUG | Sprott Active Gold & Silver Miners ETF | 6.80% |
| GOEX | Global X Gold Explorers ETF | 6.24% |
| Bottom Performers | ||
| WATS | Corgi Battery Energy Storage Systems ETF | -10.83% |
| WCBR | WisdomTree Cybersecurity Fund | -7.89% |
| BUG | Global X Cybersecurity ETF | -7.53% |
| XA | Corgi AI Cybersecurity ETF | -7.13% |
| REMX | VanEck Rare Earth and Strategic Metals ETF | -7.10% |
Analyzing the Weekly Flows
Thematic ETFs saw net redemptions of $1.48 billion for the week, a figure entirely driven by a massive outflow from the Infrastructure category. Infrastructure funds experienced a net $1.62 billion in withdrawals, overwhelming inflows elsewhere in the channel. In contrast, Disruptive Tech continued to attract significant capital, pulling in $700 million in new assets. Evolving Consumer and Precious Metals funds also saw notable outflows of $198 million and $148 million, respectively.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Disruptive Tech | 80 | $104.52B | $700M | $8,252M | $29,422M | $35,506M | $49,330M |
| FinTech | 27 | $4.38B | $28M | -$288M | -$681M | -$679M | -$379M |
| Alternative Equity | 9 | $2.38B | $7M | -$1M | $79M | $350M | $640M |
| Midstream & MLPs | 18 | $27.00B | $1M | $46M | $292M | $1,323M | $2,062M |
| Multi-Sector | 48 | $29.21B | -$3M | $28M | -$2,319M | -$100M | $2,805M |
| Health Innovation | 25 | $2.94B | -$10M | $159M | $154M | $230M | $222M |
| Sustainability | 28 | $8.27B | -$45M | -$404M | $498M | $1,147M | $2,050M |
| Industrial Revolution | 56 | $19.39B | -$53M | -$754M | $2,237M | $7,272M | $9,823M |
| Natural Resources | 57 | $54.19B | -$140M | -$468M | $334M | $10,113M | $16,758M |
| Precious Metals | 15 | $42.57B | -$148M | $197M | -$1,505M | -$1,457M | $2,090M |
| Evolving Consumer | 50 | $12.97B | -$198M | -$325M | -$862M | -$2,236M | -$2,775M |
| Infrastructure | 48 | $65.99B | -$1,619M | $1,095M | $7,863M | $16,587M | $23,332M |
Top & Bottom 5 ETFs by 5-Day Flow
A single fund dominated weekly flows, as the Roundhill Memory ETF (DRAM) attracted a substantial $1.10 billion in net new assets. On the redemption side, the First Trust RBA American Industrial Renaissance ETF (AIRR) saw an even larger outflow, shedding a staggering $1.88 billion. Another notable redemption came from the Roundhill Magnificent Seven ETF (MAGS), which lost $297 million. The large, concentrated fund movements defined the week’s flow story.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| DRAM | Roundhill Memory ETF | $1,095M |
| BAI | iShares A.I. Innovation and Tech Active ETF | $155M |
| GRID | First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index | $99M |
| BUG | Global X Cybersecurity ETF | $82M |
| CIBR | First Trust NASDAQ Cybersecurity ETF | $69M |
| Outflows | ||
| AIRR | First Trust RBA American Industrial Renaissance ETF | -$1,879M |
| MAGS | Roundhill Magnificent Seven ETF | -$297M |
| AGIX | KraneShares Public-Private AI & Technology ETF | -$245M |
| XME | State Street SPDR S&P Metals & Mining ETF | -$170M |
| RING | iShares MSCI Global Gold Miners ETF | -$119M |
Issuer League Table Update
Global X and iShares continue to lead the thematic space by assets, commanding a combined 32.9% of the market share. In terms of weekly flows, Roundhill led all issuers with $776 million in net inflows, largely due to strong demand for a single fund. Conversely, First Trust experienced the largest weekly redemptions by a wide margin, with investors pulling a net $1.83 billion from its thematic lineup. This outflow was the primary driver of the channel’s negative flow for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Global X | 38 | $64.51B | 17.26% |
| iShares | 33 | $58.63B | 15.68% |
| First Trust | 31 | $53.24B | 14.24% |
| VanEck | 20 | $40.41B | 10.81% |
| Roundhill | 11 | $32.48B | 8.69% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Roundhill | $776M |
| Global X | $63M |
| FlexShares | $54M |
| Outflows | |
| First Trust | -$1,834M |
| KraneShares | -$247M |
| SPDR | -$244M |
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.
