Weekly Channel Summary
Over the past week, the Taxable Fixed Income ETF channel, comprising 685 ETFs across 143 issuers, reached $2,229B in total assets under management (AUM). The space saw robust activity with $14.70B in 5-day net inflows. This pushes 30-day flows to $48.89B and year-to-date (YTD) flows to an impressive $223.28B, tracking closely to the staggering $472.54B seen over the past year.
This Week’s Performance Leaders and Laggards
Convertible ETFs led the channel this week, posting a 1.08% Week-to-Date (WTD) return and remaining the strongest category on a YTD basis (up 19.64%). Government Long and Long-Term funds also performed well, up 0.94% and 0.84%, respectively. Conversely, Inflation Protected ETFs lagged as the worst performer for the week at -0.20%, though they are still holding onto a 1.14% YTD gain. Preferred Stock and Bank Loans also slipped slightly into negative territory for the week.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Convertible | 1.08% | 4.38% | 11.80% | 23.98% | 19.64% | 39.36% |
| Government Long | 0.94% | -2.23% | -4.35% | -3.44% | -2.08% | 4.46% |
| Long-Term | 0.84% | -1.31% | -2.72% | -0.75% | -0.70% | 7.92% |
| International USD | 0.63% | -0.12% | -0.61% | 0.53% | 0.55% | 3.04% |
| International | 0.43% | -0.75% | -1.97% | 1.64% | -0.17% | 3.90% |
| Corporate | 0.38% | -0.66% | -1.16% | 0.43% | 0.03% | 6.34% |
| Core Enhanced | 0.34% | -0.81% | -1.34% | 0.30% | 0.00% | 5.85% |
| Core | 0.33% | -0.85% | -1.46% | -0.04% | -0.21% | 5.37% |
| Multisector Taxable | 0.27% | -0.43% | -0.74% | 1.25% | 0.51% | 6.11% |
| High Yield | 0.27% | -0.01% | 0.35% | 2.69% | 1.32% | 7.40% |
| Securitized | 0.25% | -0.56% | -0.80% | 1.01% | 0.52% | 6.42% |
| Government Intermediate | 0.18% | -1.15% | -2.02% | -1.10% | -1.02% | 3.49% |
| Emerging | 0.15% | -0.94% | -0.97% | 2.98% | 1.17% | 9.93% |
| Ultrashort | 0.09% | 0.41% | 0.93% | 2.14% | 1.57% | 4.97% |
| Short-Term | 0.09% | -0.20% | -0.20% | 1.08% | 0.56% | 4.65% |
| Government Ultrashort | 0.08% | 0.31% | 0.86% | 1.83% | 1.37% | 3.96% |
| Emerging USD | 0.07% | -0.84% | -0.85% | 2.23% | 1.04% | 11.09% |
| Government Short | 0.03% | -0.33% | -0.36% | 0.47% | 0.13% | 3.41% |
| Bank Loans | -0.04% | 0.58% | 1.24% | 1.73% | 0.80% | 4.55% |
| Preferred Stock | -0.11% | -0.32% | -0.63% | 2.91% | 1.33% | 8.38% |
| Inflation Protected | -0.20% | -0.20% | 0.16% | 0.96% | 1.14% | 4.71% |
Top & Bottom 5 ETFs by Weekly Performance
The standout single ETF for the week was the GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF), jumping 2.14%. On the other end of the spectrum, the VPC (Virtus Private Credit Strategy ETF) struggled the most, tumbling -1.85%, closely followed by the TFFI (Chesapeake Trend-Following Fixed Income ETF), which declined -1.14%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| GOVZ | iShares 25+ Year Treasury STRIPS Bond ETF | 2.14% |
| ZROZ | PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund | 2.02% |
| EDV | Vanguard Extended Duration Treasury ETF | 1.83% |
| MCVT | Miller Convertible Total Return ETF | 1.77% |
| TLT | iShares 20+ Year Treasury Bond ETF | 1.16% |
| Bottom Performers | ||
| VPC | Virtus Private Credit Strategy ETF | -1.85% |
| TFFI | Chesapeake Trend-Following Fixed Income ETF | -1.14% |
| PFFA | Virtus InfraCap U.S. Preferred Stock ETF | -0.78% |
| EPRF | Innovator S&P Investment Grade Preferred ETF | -0.75% |
| PFFR | InfraCap REIT Preferred ETF | -0.71% |
Analyzing the Weekly Flows
The Taxable Fixed Income channel gathered $14.70B overall this past week. The FI: Multi-Sector segment narrowly edged out FI: Government to take the top spot for inflows, pulling in $7,154M. Looking at credit types, Investment Grade completely dominated with $13,990M in net new assets. Meanwhile, across the duration spectrum, Ultrashort funds captured the most capital at $5,616M. On the outflow side, High Yield credit saw the heaviest withdrawals across groups, shedding $658M over the 5-day period.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| FI: Multi-Sector | 291 | $925.9B | $7,154M | $24,504M | $53,256M | $96,867M | $223,065M |
| FI: Government | 121 | $698.8B | $7,071M | $15,528M | $53,095M | $89,014M | $154,018M |
| FI: Securitized | 42 | $105.7B | $602M | $1,302M | $3,073M | $4,864M | $16,121M |
| FI: Bank Loans | 44 | $65.0B | $496M | $2,666M | $3,161M | $7,469M | $15,249M |
| FI: Cat Bonds | 1 | $0.1B | $0M | $7M | $35M | $46M | $72M |
| FI: Preferred Stock | 27 | $40.6B | -$42M | $690M | $640M | $1,000M | $2,949M |
| FI: Corporate | 155 | $392.5B | -$583M | $4,177M | $11,602M | $23,996M | $61,051M |
Flows by Credit Type
| Credit Type | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Credit: Investment Grade | 358 | $1,790.6B | $13,990M | $36,474M | $106,354M | $185,797M | $362,610M |
| Credit: Blend | 176 | $250.2B | $1,331M | $7,172M | $17,086M | $34,309M | $83,266M |
| Specialty: Interest Rate Volatility | 1 | $0.1B | $30M | $33M | $35M | $35M | $35M |
| Credit: High Yield | 145 | $187.4B | -$658M | $5,170M | $1,347M | $3,064M | $26,455M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Duration: Ultrashort | 137 | $465.5B | $5,616M | $14,303M | $45,894M | $82,801M | $134,897M |
| Duration: Intermediate | 399 | $1,274.9B | $5,584M | $22,949M | $58,179M | $110,403M | $271,200M |
| Duration: Short | 86 | $295.3B | $2,460M | $7,420M | $17,247M | $27,616M | $55,918M |
| Duration: Long | 58 | $192.7B | $1,033M | $4,178M | $3,503M | $2,385M | $10,352M |
Top & Bottom 5 ETFs by 5-Day Flow
The SGOV (iShares 0-3 Month Treasury Bond ETF) was a massive winner, raking in a staggering $2,298M in just 5 days. Conversely, investors heavily rotated out of the HYG (iShares iBoxx $ High Yield Corporate Bond ETF), which led outflows with a $859M withdrawal, followed by a $523M exodus from the VCIT (Vanguard Intermediate-Term Corporate Bond ETF).
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SGOV | iShares 0-3 Month Treasury Bond ETF | $2,298M |
| BND | Vanguard Total Bond Market ETF | $1,898M |
| BNDX | Vanguard Total International Bond ETF | $1,150M |
| TLT | iShares 20+ Year Treasury Bond ETF | $725M |
| VTIP | Vanguard Short-Term Inflation-Protected Securities ETF | $586M |
| Outflows | ||
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | -$859M |
| VCIT | Vanguard Intermediate-Term Corporate Bond ETF | -$523M |
| TIP | iShares TIPS Bond ETF | -$177M |
| SCHQ | Schwab Long-Term U.S. Treasury ETF | -$142M |
| IEI | iShares 3-7 Year Treasury Bond ETF | -$140M |
Issuer League Table Update
The Taxable Fixed Income landscape remains heavily concentrated at the top, with iShares (36.50%) and Vanguard (26.38%) commanding the lion’s share of AUM. iShares also led the weekly flows battle, absorbing $4,863M, while Vanguard closely followed with $4,419M. On the other end, Simplify recorded the largest weekly outflow among issuers, shedding $118M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 88 | $813.47B | 36.50% |
| Vanguard | 30 | $587.98B | 26.38% |
| SPDR | 37 | $170.63B | 7.66% |
| JPMorgan | 19 | $87.52B | 3.93% |
| Schwab | 12 | $75.46B | 3.39% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $4,863M |
| Vanguard | $4,419M |
| SPDR | $793M |
| Outflows | |
| Simplify | -$118M |
| Xtrackers | -$47M |
| Invesco | -$21M |
For a deeper dive into these trends, access our FREE, in-depth Taxable 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.
