Weekly Channel Summary
The EQ: Specialty channel, currently comprised of 69 ETFs across 49 issuers, manages a total of $13.4 billion in assets. For the past week, the channel saw net outflows of approximately $9 million. Despite this week’s pullback, the channel remains in positive territory for the year, with $2.80 billion in Year-to-Date inflows and $3.00 billion in net flows over the past one year.
This Week’s Performance Leaders and Laggards
It was a challenging week for the channel, with all major categories posting negative returns. The Equity: Specialty – Long | Short category performed best on a relative basis, declining just 1.03% WTD, while maintaining a 5.64% return YTD. The primary lagging category was Equity: Specialty – Hedged, which fell 1.56% for the week but remains the year-to-date leader with a 9.12% gain.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Equity: Specialty – Long | Short | -1.03% | -1.03% | 0.41% | 4.46% | 5.64% | 3.06% |
| Equity: Specialty – Hedged | -1.56% | -2.00% | 3.16% | 9.14% | 9.12% | 7.20% |
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing ETF this week was the BTAL (AGF U.S. Market Neutral Anti-Beta Fund), which posted a gain of 1.61%. On the downside, the two worst-performing funds were HFEQ (Unlimited HFEQ Equity Long/Short ETF) and SPUC (Simplify US Equity PLUS Upside Convexity ETF), which declined by 5.22% and 4.05%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | 1.61% |
| CCOR | Core Alternative ETF | 1.23% |
| CBLS | Clough Hedged Equity ETF | 0.44% |
| SHRT | Gotham Short Strategies ETF | 0.41% |
| CAOS | Alpha Architect Tail Risk ETF | 0.26% |
| Bottom Performers | ||
| HFEQ | Unlimited HFEQ Equity Long/Short ETF | -5.22% |
| SPUC | Simplify US Equity PLUS Upside Convexity ETF | -4.05% |
| MSTQ | LHA Market State Tactical Q ETF | -3.86% |
| HBTA | Horizon Expedition Plus ETF | -3.09% |
| QGRD | Horizon Nasdaq-100 Defined Risk ETF | -2.82% |
Analyzing the Weekly Flows
The channel experienced a total net outflow of approximately $9 million this week. The Equity: Specialty – Long | Short category attracted the most capital, bringing in $35 million despite holding a smaller AUM base of $3.7 billion. In contrast, the Equity: Specialty – Hedged category saw the largest outflows, shedding $44 million for the week.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Equity: Specialty – Long | Short | 20 | $3.7B | $35M | $53M | $163M | $460M | $146M |
| Equity: Specialty – Hedged | 49 | $9.6B | -$44M | $122M | $650M | $2,342M | $2,851M |
Top & Bottom 5 ETFs by 5-Day Flow
The BTAL (AGF U.S. Market Neutral Anti-Beta Fund) led individual funds in inflows, gathering $18 million for the week. Conversely, the largest outflows were seen in HELO (JPMorgan Hedged Equity Laddered Overlay ETF) and QBER (TrueShares Quarterly Bear Hedge ETF), which lost $66 million and $11 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | $18M |
| SPUC | Simplify US Equity PLUS Upside Convexity ETF | $12M |
| KSPY | KraneShares Hedgeye Hedged Equity Index ETF | $11M |
| FTLS | First Trust Long/Short Equity ETF | $7M |
| ORR | Militia Long/Short Equity ETF | $6M |
| Outflows | ||
| HELO | JPMorgan Hedged Equity Laddered Overlay ETF | -$66M |
| QBER | TrueShares Quarterly Bear Hedge ETF | -$11M |
| PRAE | PlanRock Alternative Growth ETF | -$8M |
| CAOS | Alpha Architect Tail Risk ETF | -$2M |
| SPD | Simplify US Equity PLUS Downside Convexity ETF | -$1M |
Issuer League Table Update
JPMorgan and First Trust continue to dominate the market share, holding 27.57% and 15.53% of assets, respectively. In terms of weekly activity, AGF led all issuers with the most significant inflows, while JPMorgan experienced the largest net outflows for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 3 | $3.68B | 27.57% |
| First Trust | 1 | $2.07B | 15.53% |
| Simplify | 5 | $0.62B | 4.68% |
| Fidelity | 2 | $0.61B | 4.57% |
| Swan | 1 | $0.58B | 4.37% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| AGF | $18M |
| Simplify | $15M |
| KraneShares | $11M |
| Outflows | |
| JPMorgan | -$65M |
| TrueShares | -$12M |
| PlanRock | -$8M |
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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.
