Options-based ETFs near $400bn as derivative income takes two-thirds of flows

Options-based ETFs total close to $400 billion across more than 1,000 funds, according to our tracking.

Derivative income products hold about $230 billion, or roughly 59% of category assets, and have taken about two-thirds of this year's flows so far.

Schwab's SCIN is expected to list Oct. 21 with a 0.06% fee, one basis point below Vanguard's BNDX, according to ETF Trends. The fund tracks a dollar-hedged ICE index of non-dollar investment-grade debt.

Calamos's CAYN, set to launch Oct. 26, is a least-of autocallable ETF that ladders at least 52 notes tied to the weakest of three index ETFs, with the coupon barrier and maturity barrier both at -30%. The payoff depends on the worst-performing of the three indices rather than an average of them.

Investment-grade credit inflows fell to $1.9 billion in September, high-yield flows turned negative for the first time since March, and Treasuries took the demand, according to iShares data.

All 20 of the largest ETF issuers posted net inflows.

Ultumus put global ETF assets at $21.35 trillion, down 0.9% like-for-like as market moves outweighed $150 billion of net inflows.