Weekly Channel Summary
This week, the Fixed Income: Taxable channel, comprising 625 ETFs from 132 issuers, reached a total AUM of $1.91 trillion. The channel experienced significant inflows, gathering $9.23 billion over the past week. This positive momentum builds on a strong year, with year-to-date flows now standing at an impressive $260.39 billion and total flows over the past year reaching $331.42 billion, underscoring sustained investor interest in this segment.
This Week’s Performance Leaders and Laggards
The Emerging USD category led performance this week with a 0.24% gain, contributing to a strong 9.74% return year-to-date. In contrast, the Convertible category was the primary laggard, posting a significant weekly loss of -1.48%. Despite the weekly downturn, convertibles remain the top-performing category year-to-date, boasting an impressive 17.95% return.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Emerging USD | 0.24% | 1.93% | 4.69% | 7.21% | 9.74% | 7.65% |
| Government Ultrashort | 0.06% | 0.39% | 1.10% | 2.16% | 3.16% | 4.37% |
| Ultrashort | 0.05% | 0.47% | 1.46% | 2.79% | 3.89% | 5.21% |
| International USD | -0.09% | 0.39% | 0.39% | 2.93% | 2.48% | 2.80% |
| Bank Loans | -0.12% | 0.25% | 1.61% | 3.43% | 3.98% | 6.50% |
| Government Short | -0.12% | 0.31% | 1.07% | 2.64% | 4.13% | 3.79% |
| Short-Term | -0.15% | 0.41% | 1.53% | 3.34% | 4.92% | 4.89% |
| Securitized | -0.18% | 0.76% | 2.00% | 3.80% | 6.06% | 4.20% |
| High Yield | -0.22% | 0.89% | 2.58% | 5.28% | 6.75% | 6.98% |
| Inflation Protected | -0.25% | 0.43% | 2.03% | 3.48% | 6.51% | 4.23% |
| Government Long | -0.25% | 2.40% | 2.09% | 2.35% | 5.17% | -3.97% |
| Emerging | -0.26% | 1.25% | 3.30% | 7.49% | 10.55% | 7.31% |
| Core Enhanced | -0.26% | 1.04% | 2.18% | 4.07% | 6.12% | 3.39% |
| Core | -0.27% | 0.92% | 1.95% | 3.81% | 5.82% | 3.09% |
| Multisector Taxable | -0.28% | 0.82% | 2.17% | 4.07% | 5.74% | 4.39% |
| Government Intermediate | -0.32% | 0.51% | 1.26% | 3.45% | 5.91% | 2.46% |
| Corporate | -0.43% | 1.02% | 2.49% | 4.84% | 6.64% | 4.01% |
| Long-Term | -0.51% | 2.18% | 3.48% | 5.17% | 7.10% | 0.87% |
| International | -0.59% | 0.43% | -0.31% | 7.47% | 10.74% | 3.40% |
| Preferred Stock | -0.59% | 1.42% | 4.54% | 5.23% | 5.83% | 3.45% |
| Convertible | -1.48% | 3.00% | 7.22% | 15.63% | 17.95% | 23.65% |
Top & Bottom 5 ETFs by Weekly Performance
The week’s top individual performer was the SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC), which gained 0.65%. On the other end of the spectrum, the REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX) was the worst performer with a -3.85% return, followed closely by the Virtus Private Credit Strategy ETF (VPC), which fell -3.45%.
| Top Performers | ||
| EMHC | SPDR Bloomberg Emerging Markets USD Bond ETF | 0.65% |
| XEMD | BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 0.57% |
| MBSX | Regan Fixed Rate MBS ETF | 0.57% |
| GEMD | Goldman Sachs Access Emerging Markets USD Bond ETF | 0.55% |
| EMHY | iShares J.P. Morgan EM High Yield Bond ETF | 0.52% |
| Bottom Performers | ||
| BMAX | REX Bitcoin Corporate Treasury Convertible Bond ETF | -3.85% |
| VPC | Virtus Private Credit Strategy ETF | -3.45% |
| CVRT | Calamos Convertible Equity Alternative ETF | -1.92% |
| SPFF | Global X Superincome Preferred ETF | -1.48% |
| PFFA | Virtus InfraCap U.S. Preferred Stock ETF | -1.46% |
Analyzing the Weekly Flows
The FI: Taxable channel attracted a substantial $9.19 billion in net flows this week. The FI: Multi-Sector segment led the way with over $4 billion in new assets. From a credit perspective, Investment Grade funds were the clear favorite, pulling in $7.42 billion. When viewed by duration, Intermediate-term strategies dominated, attracting $6.38 billion in flows. The only notable laggard was the FI: Government segment which, despite positive flows overall, had some internal detractors.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| FI: Multi-Sector | 254 | $774.4B | $4,021M | $17,098M | $46,868M | $120,897M | $163,279M |
| FI: Corporate | 161 | $357.9B | $2,229M | $3,110M | $15,264M | $27,849M | $35,821M |
| FI: Government | 112 | $578.8B | $1,968M | $10,245M | $21,677M | $80,108M | $80,495M |
| FI: Bank Loans | 33 | $58.1B | $614M | $1,796M | $6,574M | $12,166M | $23,819M |
| FI: Securitized | 36 | $100.8B | $243M | $1,896M | $9,778M | $17,975M | $25,747M |
| FI: Preferred Stock | 24 | $39.8B | $120M | $586M | $1,112M | $1,347M | $2,214M |
| FI: Cat Bonds | 1 | $0.0B | $0M | $0M | $3M | $11M | $11M |
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 | 326 | $1,539.8B | $7,422M | $25,205M | $75,405M | $203,338M | $250,609M |
| Credit: Blend | 151 | $191.4B | $1,281M | $7,371M | $17,046M | $40,101M | $53,225M |
| Credit: High Yield | 144 | $178.7B | $491M | $2,156M | $8,825M | $16,912M | $27,552M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 372 | $1,105.5B | $6,381M | $22,029M | $61,919M | $141,520M | $188,055M |
| Duration: Ultrashort | 112 | $362.0B | $1,573M | $6,286M | $26,504M | $87,122M | $110,760M |
| Duration: Long | 56 | $188.7B | $780M | $3,933M | $1,760M | $4,816M | ($2,184M) |
| Duration: Short | 81 | $253.7B | $461M | $2,484M | $11,094M | $26,894M | $34,755M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) was the week’s biggest winner, attracting $1.16 billion in new assets. On the flip side, the iShares Broad USD Investment Grade Corporate Bond ETF (USIG) experienced the largest outflow at $358 million, followed by the WisdomTree Floating Rate Treasury Fund (USFR), which saw $249 million in redemptions.
| Inflows | ||
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | $1,157M |
| VCIT | Vanguard Intermediate-Term Corporate Bond ETF | $849M |
| BND | Vanguard Total Bond Market ETF | $743M |
| JAAA | Janus Henderson AAA CLO ETF | $487M |
| VGIT | Vanguard Intermediate-Term Treasury ETF | $479M |
| Outflows | ||
| USIG | iShares Broad USD Investment Grade Corporate Bond ETF | ($358M) |
| USFR | WisdomTree Floating Rate Treasury Fund | ($249M) |
| IUSB | iShares Core Total USD Bond Market ETF | ($238M) |
| SHY | iShares 1-3 Year Treasury Bond ETF | ($166M) |
| USHY | iShares Broad USD High Yield Corporate Bond ETF | ($107M) |
Issuer League Table Update
The top two issuers by market share remain iShares (38.51%) and Vanguard (26.57%). This week, Vanguard led all issuers in asset gathering, pulling in an impressive $3.31 billion. Among the top issuers, WisdomTree experienced the largest outflows, shedding $236 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 80 | $735.50B | 38.51% |
| Vanguard | 29 | $507.53B | 26.57% |
| SPDR | 36 | $160.45B | 8.40% |
| JPMorgan | 17 | $66.43B | 3.48% |
| Schwab | 12 | $65.24B | 3.42% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| Vanguard | $3,308M |
| iShares | $2,283M |
| SPDR | $549M |
| Outflows | |
| WisdomTree | -$236M |
| FlexShares | -$92M |
| T. Rowe Price | -$46M |
For a deeper dive into these trends, access our FREE, in-depth Thematic 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.
