Weekly Channel Summary
The Synthetic Income ETF channel encompasses 370 ETFs across 69 issuers, commanding a total AUM of $193 billion. Over the last week, the channel generated a strong +$1.95B in 5-day flows. Looking at broader timeframes, year-to-date flows stand at +$26.12B, while 1-year flows have reached an impressive +$73.29B.
This Week’s Performance Leaders and Laggards
Synthetic Income strategies exhibited a wide range of outcomes this week. Commodity-focused and alternative energy income strategies led the charge on a relative basis, while strategies centered around gold and silver miners faced significant headwinds and underperformed the broader market.
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing ETF this week was the UBS AG ETRACS Crude Oil Shares Covered Call ETNs (USOI), boasting a WTD return of +8.22%. Conversely, the two worst-performing ETFs were the Roundhill Gold Miners WeeklyPay ETF (GDXW) and the YieldMax Gold Miners Option Income Strategy ETF (GDXY), suffering WTD losses of -9.25% and -6.11%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| USOI | UBS AG ETRACS Crude Oil Shares Covered Call ETNs | +8.22% |
| USOY | Defiance Oil Enhanced Options Income ETF | +5.39% |
| EGGQ | NestYield Visionary ETF | +5.01% |
| EGGY | NestYield Dynamic Income ETF | +4.60% |
| MLPI | NEOS MLP & Energy Infrastructure High Income ETF | +4.52% |
| Bottom Performers | ||
| GDXW | Roundhill Gold Miners WeeklyPay ETF | -9.25% |
| GDXY | YieldMax Gold Miners Option Income Strategy ETF | -6.11% |
| GLDN | Nicholas Gold Income ETF | -5.65% |
| SLJY | Amplify SILJ Junior Silver Miners Covered Call ETF | -4.86% |
| NUGY | GraniteShares YieldBOOST Gold Miners ETF | -4.30% |
Analyzing the Weekly Flows
Total net flow for the channel was strong this week. The category receiving the most inflows was Synthetic Income – Equity, attracting +$1,644M (total AUM of $175,654M). Synthetic Income – Fixed Income also saw significant interest with +$118M in weekly inflows. Notably, no major category experienced aggregate net outflows this week, underscoring broad interest across the channel, though Multi-Asset strategies captured the smallest share of new capital.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Synthetic Income – Equity | 192 | $175,654M | +$1,644M | +$5,957M | +$17,978M | +$24,388M | +$57,209M |
| Synthetic Income – Fixed Income | 21 | $5,354M | +$118M | +$248M | +$601M | +$741M | +$2,078M |
| Synthetic Income – Single Stock | 103 | $7,871M | +$81M | +$119M | -$49M | -$422M | +$10,171M |
| Synthetic Income – Crypto | 23 | $1,715M | +$52M | +$145M | +$335M | +$506M | +$2,148M |
| Synthetic Income – Commodity | 15 | $2,301M | +$25M | +$155M | +$422M | +$657M | +$1,407M |
| Synthetic Income – Multi-Asset | 5 | $429M | +$3M | +$41M | +$64M | +$217M | +$250M |
Top & Bottom 5 ETFs by 5-Day Flow
Leading the pack for individual inflows by dollar amount was the JPMorgan NASDAQ Equity Premium Income ETF (JEPQ), gathering an impressive +$698M. On the other end, the top two ETFs for outflows were the NEOS Nasdaq 100 High Income ETF (QQQI) and the Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE), shedding -$239M and -$20M respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | +$698M |
| JEPI | JPMorgan Equity Premium Income ETF | +$244M |
| GPIQ | Goldman Sachs Nasdaq-100 Premium Income ETF | +$176M |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | +$110M |
| TLTW | iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | +$89M |
| Outflows | ||
| QQQI | NEOS Nasdaq 100 High Income ETF | -$239M |
| QDTE | Roundhill Innovation-100 0DTE Covered Call Strategy ETF | -$20M |
| QYLD | Global X NASDAQ 100 Covered Call ETF | -$16M |
| KNG | FT Vest S&P 500 Dividend Aristocrats Target Income ETF | -$15M |
| HYGW | iShares High Yield Corporate Bond BuyWrite Strategy ETF | -$7M |
Issuer League Table Update
JPMorgan and Neos currently dominate the space, standing as the top 2 issuers with 43.34% and 13.29% market share, respectively. JPMorgan also led the week in asset gathering with a massive +$963M in 5-day inflows. However, among the top-tier issuers (top 5 by AUM), Neos experienced the largest weekly outflows, losing -$83M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 5 | $83.81B | 43.34% |
| Neos | 18 | $25.70B | 13.29% |
| Global X | 17 | $13.27B | 6.86% |
| YieldMax | 62 | $9.29B | 4.81% |
| Amplify | 16 | $8.98B | 4.64% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| JPMorgan | +$963M |
| Goldman Sachs | +$286M |
| First Trust | +$131M |
| Outflows | |
| Neos | -$83M |
| Global X | -$14M |
| Roundhill | -$4M |
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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.
