Weekly Channel Summary
The Municipal ETF channel closed the week with a total Assets Under Management (AUM) of $194B, representing 137 ETFs managed by 48 unique brands. The segment continues to show robust momentum, attracting $1.66B in net new assets over the past 5 days. This activity brings the Year-to-Date (YTD) flow total to $5.65B, contributing to a significant 1-year flow total of $42.31B.
This Week’s Performance Leaders and Laggards
Municipal performance was positive across the board this week, with credit-sensitive segments leading the charge. The High Yield category was the top performer with a 0.30% return, maintaining its strong YTD position of 0.80%. Conversely, the Short category was the relative laggard this week, returning 0.11%, though it remains up 0.54% YTD.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| High Yield | 0.30% | 0.97% | 1.12% | 6.63% | 0.80% | 4.34% |
| Intermediate | 0.20% | 0.78% | 1.08% | 5.58% | 0.74% | 4.86% |
| Long | 0.20% | 0.49% | 0.47% | 7.21% | 0.46% | 3.00% |
| Single State | 0.17% | 0.63% | 0.86% | 5.51% | 0.57% | 3.90% |
| Short | 0.11% | 0.58% | 1.07% | 2.15% | 0.54% | 4.08% |
Top & Bottom 5 ETFs by Weekly Performance
Leading the pack this week was the RTAI (Rareview Tax Advantaged Income ETF) with a gain of 1.22%. On the other end of the spectrum, the NMB (Simplify National Muni Bond ETF) struggled with a loss of -0.08%, followed by the PVI (Invesco Floating Rate Municipal Income ETF), which finished marginally higher at 0.02%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| RTAI | Rareview Tax Advantaged Income ETF | 1.22% |
| XMPT | VanEck CEF Muni Income ETF | 1.06% |
| WTMY | WisdomTree High Income Laddered Municipal Fund | 0.34% |
| ZTAX | X-Square Municipal Income ETF | 0.32% |
| OVM | Overlay Shares Municipal Bond ETF | 0.29% |
| Bottom Performers | ||
| NMB | Simplify National Muni Bond ETF | -0.08% |
| PVI | Invesco Floating Rate Municipal Income ETF | 0.02% |
| RMCA | Rockefeller California Municipal Bond ETF | 0.02% |
| AMUN | Abrdn Ultra Short Muncipal Income Active ETF | 0.04% |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | 0.04% |
Analyzing the Weekly Flows
The Municipal ETF channel saw massive demand this week, netting $1.66B in flows. The Intermediate category was the primary beneficiary, absorbing $1,180M in new capital, bringing its total AUM to a staggering $130.2B. The Short category also saw significant interest with $229M in weekly inflows. Despite broad positivity, the “Non-Traditional” segments saw negligible activity, with no major outflows reported at the category level.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Municipal – Intermediate | 56 | $130.2B | $1,180M | $4,277M | $8,843M | $4,067M | $24,731M |
| Municipal – Short | 25 | $29.8B | $229M | $391M | $2,592M | $357M | $8,540M |
| Municipal – Single State | 28 | $14.4B | $105M | $556M | $1,412M | $532M | $3,057M |
| Municipal – High Yield | 18 | $15.5B | $88M | $652M | $1,614M | $639M | $5,369M |
| Municipal – Long | 9 | $4.5B | $55M | $64M | $32M | $56M | $607M |
Top & Bottom 5 ETFs by 5-Day Flow
The MUB (iShares National Muni Bond ETF) led all inflows this week with a massive $516M intake. On the flip side, the PWZ (Invesco California AMT-Free Municipal Bond ETF) saw the largest redemption at -$16M, followed by the CGSM (Capital Group Short Duration Municipal Income ETF), which lost -$6M.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| MUB | iShares National Muni Bond ETF | $516M |
| VTEB | Vanguard Tax-Exempt Bond ETF | $311M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $92M |
| FLMI | Franklin Dynamic Municipal Bond ETF | $70M |
| SUB | iShares Short-Term National Muni Bond ETF | $70M |
| Outflows | ||
| PWZ | Invesco California AMT-Free Municipal Bond ETF | -$16M |
| CGSM | Capital Group Short Duration Municipal Income ETF | -$6M |
| BKMI | BNY Mellon Municipal Intermediate ETF | -$4M |
| XMPT | VanEck CEF Muni Income ETF | -$3M |
| BKMS | BNY Mellon Municipal Short Duration ETF | -$3M |
Issuer League Table Update
iShares and Vanguard continue to dominate the municipal landscape, commanding 32.54% and 25.89% of the market share, respectively. iShares was the flow leader this week, gathering $706M, while Vanguard followed closely with $463M. Among the top issuers, BNY Mellon saw the largest pullbacks, with -$6M in weekly flows.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $63.27B | 32.54% |
| Vanguard | 8 | $50.35B | 25.89% |
| JPMorgan | 4 | $13.56B | 6.97% |
| SPDR | 5 | $9.58B | 4.92% |
| Capital Group | 3 | $8.66B | 4.45% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $706M |
| Vanguard | $463M |
| JPMorgan | $112M |
| Outflows | |
| BNY Mellon | -$6M |
| VanEck | -$3M |
| X-Square | -$1M |
For a deeper dive into these trends, access our FREE, in-depth Municipal 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.
