Weekly Channel Summary
The Synthetic Income channel ended the week with $232.54B in total AUM spread across 441 ETFs from 82 issuers. Net flows were positive at $1,325M for the five-day period, extending a strong year-to-date total of $66,190M and a one-year net inflow of $78,613M. The channel continues to attract steady capital despite a volatile week for underlying equity and single-stock performance.
This Week’s Performance Leaders and Laggards
On a WTD basis, the niche Equity: Thematic – Midstream & MLPs category led the channel with a 1.60% gain, followed by Fixed Income at 0.78%, while most other segments posted losses. The broad Equity category fell 1.79% WTD but retains a strong 10.21% YTD gain, and Single Stock funds were the weakest major category, down 7.18% WTD despite a robust 24.26% YTD return. The lone Leverage | Inverse – Equity fund was the biggest laggard, dropping 14.55% for the week. Crypto and Commodity categories also slipped modestly, down 0.82% and 0.80% respectively, though both remain positive over the trailing year.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Equity: Thematic – Midstream & MLPs | 1.60% | — | — | — | — | — |
| Fixed Income | 0.78% | 0.12% | -0.63% | -0.23% | 1.26% | 1.60% |
| Commodity | -0.80% | -2.62% | 6.21% | -8.64% | 3.97% | 9.36% |
| Crypto | -0.82% | 6.59% | 21.68% | 3.66% | -10.32% | -24.64% |
| Multi-Asset | -1.17% | -0.35% | -0.55% | 2.64% | 4.97% | 10.88% |
| Equity | -1.79% | 1.14% | 1.89% | 6.46% | 10.21% | 14.30% |
| Single Stock | -7.18% | 2.16% | 15.27% | 15.73% | 24.26% | 17.25% |
| Leverage | Inverse – Equity | -14.55% | — | — | — | — | — |
Top & Bottom 5 ETFs by Weekly Performance
Among individual funds, the Defiance Oil Enhanced Options Income ETF (USOY) topped the weekly leaderboard with a 6.79% gain, followed by the FT Vest DJIA Dogs 10 Target Income ETF (DOGG) at 4.99%. On the downside, the NestYield Dynamic Income ETF (EGGY) fell 17.52%, the steepest decline in the channel, with the Tuttle Capital Space Industry Income Blast ETF (SPCI) close behind at -17.20%. These results highlight a wide performance dispersion driven largely by single-stock and options-income strategies tied to volatile underlying names.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| USOY | Defiance Oil Enhanced Options Income ETF | 6.79% |
| DOGG | FT Vest DJIA Dogs 10 Target Income ETF | 4.99% |
| GEEQ | Guggenheim Enhanced Equity Income ETF | 4.64% |
| USOI | UBS AG ETRACS Crude Oil Shares Covered Call ETNs due April 24, 2037 | 4.10% |
| PAYR | Federated Hermes Enhanced Income ETF | 3.95% |
| Bottom Performers | ||
| EGGY | NestYield Dynamic Income ETF | -17.52% |
| SPCI | Tuttle Capital Space Industry Income Blast ETF | -17.20% |
| EGGQ | NestYield Visionary ETF | -16.46% |
| YRAM | YieldMax Memory and Storage Portfolio Option Income ETF | -15.57% |
| ULTI | REX IncomeMax Option Strategy ETF | -15.06% |
Analyzing the Weekly Flows
The channel generated $1,325M in net inflows over the five-day period, led overwhelmingly by the Equity category, which pulled in $1,288M and continues to dominate with $60,019M YTD. Single Stock and Multi-Asset categories added modest inflows of $59M and $34M, respectively, while Crypto and Commodity categories saw only marginal gains. Fixed Income was the sole category to see outflows, shedding $74M for the week despite a healthy $1,774M YTD inflow. Overall, flow activity remains concentrated in large, options-income equity strategies that continue to draw the bulk of new capital.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Equity | 246 | $212.89B | $1,288M | $6,275M | $20,558M | $60,019M | $69,201M |
| Single Stock | 122 | $7.99B | $59M | $366M | $840M | $1,321M | $3,245M |
| Multi-Asset | 6 | $536M | $34M | $42M | $64M | $323M | $325M |
| Crypto | 22 | $2.28B | $9M | $159M | $327M | $1,205M | $1,635M |
| Commodity | 18 | $2.63B | $8M | $128M | $517M | $1,510M | $1,844M |
| Leverage | Inverse – Equity | 1 | $1M | $1M | $2M | $2M | $2M | $2M |
| Equity: Thematic – Midstream & MLPs | 1 | $37M | $0M | $37M | $37M | $37M | $37M |
| Fixed Income | 25 | $6.18B | -$74M | $23M | $515M | $1,774M | $2,326M |
Top & Bottom 5 ETFs by 5-Day Flow
The NEOS Nasdaq 100 High Income ETF (QQQI) led all funds with $242M in weekly inflows, followed by the JPMorgan NASDAQ Equity Premium Income ETF (JEPQ) at $164M. On the outflow side, the iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) led redemptions at -$108M, followed by the JPMorgan Equity Premium Income ETF (JEPI) at -$95M. These flows suggest a rotation within income strategies, favoring newer Nasdaq-focused products over established fixed-income and broad equity premium income funds.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| QQQI | NEOS Nasdaq 100 High Income ETF | $242M |
| JEPQ | JPMorgan NASDAQ Equity Premium Income ETF | $164M |
| ACYN | FT Vest Laddered Autocallable Barrier & Income ETF | $94M |
| GPIX | Goldman Sachs S&P 500 Premium Income ETF | $80M |
| GPIQ | Goldman Sachs Nasdaq-100 Premium Income ETF | $79M |
| Outflows | ||
| TLTW | iShares 20+ Year Treasury Bond BuyWrite Strategy ETF iShares TLT Premium Income+ ETF | -$108M |
| JEPI | JPMorgan Equity Premium Income ETF | -$95M |
| JUCY | Aptus Enhanced Yield ETF | -$26M |
| HYTI | FT Vest High Yield & Target Income ETF | -$11M |
| QDTE | Roundhill Nasdaq-100 0DTE Covered Call Strategy ETF | -$10M |
Issuer League Table Update
JPMorgan remains the dominant issuer in the Synthetic Income channel with $91.68B in AUM and a 39.43% market share, followed by Neos at $36.45B and 15.67% share. Neos led all issuers in weekly inflows with $421M, followed by Goldman Sachs at $159M and JPMorgan at $144M, underscoring continued demand for options-income strategies across multiple providers. On the outflow side, iShares experienced the largest weekly redemptions at -$90M, with Aptus following at -$30M. The data suggests that while JPMorgan retains scale leadership, Neos is currently capturing the greatest share of new investor capital.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| JPMorgan | 5 | $91.68B | 39.43% |
| Neos | 19 | $36.45B | 15.67% |
| Global X | 16 | $13.91B | 5.98% |
| Goldman Sachs | 2 | $12.68B | 5.45% |
| FT Vest | 29 | $10.50B | 4.52% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Neos | $421M |
| Goldman Sachs | $159M |
| JPMorgan | $144M |
| Outflows | |
| iShares | -$90M |
| Aptus | -$30M |
| GraniteShares | -$4M |
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.
