Weekly Channel Summary
The Fixed Income: Municipal ETF channel currently holds a total of $162 billion in assets under management, distributed across 112 ETFs from 42 different issuers. Over the past week, the channel experienced significant inflows, attracting $1.46 billion. This positive trend continues from a strong year-to-date performance, which has seen net inflows of $22.17 billion, and an even more impressive accumulation of $29.03 billion over the past year.
This Week’s Performance Leaders and Laggards
This week, the Long duration category led the municipal bond space with a 0.48% return, though it remains modestly positive with a 1.01% gain year-to-date. On the other end of the spectrum, the Short duration category was the laggard, posting a minimal gain of only 0.05% for the week; however, it maintains the strongest year-to-date performance at 3.30%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long | 0.48% | 3.67% | 3.88% | 1.14% | 1.01% | -0.64% |
| Intermediate | 0.34% | 2.24% | 2.88% | 2.42% | 3.26% | 1.86% |
| Single State | 0.34% | 2.49% | 2.91% | 1.64% | 1.92% | 0.79% |
| High Yield | 0.24% | 3.07% | 2.94% | 1.18% | 2.55% | 0.53% |
| Short | 0.05% | 0.38% | 1.33% | 2.11% | 3.30% | 3.20% |
Top & Bottom 5 ETFs by Weekly Performance
The standout performer this week was the Simplify National Muni Bond ETF (NMB), which posted a strong gain of 0.80%. On the flip side, the VanEck Short High Yield Muni ETF (SHYD) and the Rareview Tax Advantaged Income ETF (RTAI) were the week’s worst performers, declining by -0.13% and -0.12% respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| NMB | Simplify National Muni Bond ETF | 0.80% |
| LMUB | iShares Long-Term National Muni Bond ETF | 0.61% |
| OVM | Overlay Shares Municipal Bond ETF | 0.55% |
| RMOP | Rockefeller Opportunistic Municipal Bond ETF | 0.54% |
| PWZ | Invesco California AMT-Free Municipal Bond ETF | 0.54% |
| Bottom Performers | ||
| SUB | iShares Short-Term National Muni Bond ETF | 0.00% |
| FUMB | First Trust Ultra Short Duration Municipal ETF | 0.01% |
| SHM | SPDR Nuveen ICE Short Term Municipal Bond ETF | -0.02% |
| RTAI | Rareview Tax Advantaged Income ETF | -0.12% |
| SHYD | VanEck Short High Yield Muni ETF | -0.13% |
Analyzing the Weekly Flows
The Municipal ETF channel saw a net inflow of $1.46 billion this week. The Intermediate duration category was the primary beneficiary, attracting $962 million in new assets and bringing its total AUM to $110.7 billion. The Short duration category also saw significant interest with $200 million in inflows. Conversely, there were no categories with major outflows, indicating broad positive sentiment across the municipal bond space.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Intermediate | 48 | $110.7B | $962M | $2,114M | $4,950M | $11,966M | $16,792M |
| Short | 21 | $25.8B | $200M | $628M | $1,912M | $5,699M | $6,423M |
| High Yield | 16 | $12.9B | $157M | $559M | $2,697M | $2,413M | $2,634M |
| Single State | 19 | $8.3B | $71M | $258M | $623M | $1,641M | $2,498M |
| Long | 8 | $4.3B | $66M | $304M | $523M | $451M | $683M |
Top & Bottom 5 ETFs by 5-Day Flow
The Vanguard Tax-Exempt Bond ETF (VTEB) was the week’s biggest asset gatherer, pulling in an impressive $360 million. On the other hand, the report did not indicate any significant outflows from individual ETFs this week, reinforcing the overall positive investor sentiment in the municipal bond market.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $360M |
| JMUB | JPMorgan Municipal ETF | $98M |
| MUB | iShares National Muni Bond ETF | $85M |
| CGMU | Capital Group Municipal Income ETF | $60M |
| HIMU | iShares High Yield Muni Active ETF | $55M |
| Outflows | ||
| – | No significant outflows reported | – |
| – | – | – |
| – | – | – |
| – | – | – |
| – | – | – |
Issuer League Table Update
The issuer landscape is dominated by iShares and Vanguard, who together command over 63% of the market share. This week, Vanguard was the top asset gatherer, attracting an impressive $525 million in inflows. Among the top issuers, SPDR was the only one to experience outflows, although the report did not specify the amount for the top firms.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $58.03B | 35.83% |
| Vanguard | 8 | $44.74B | 27.62% |
| SPDR | 5 | $9.57B | 5.91% |
| JPMorgan | 4 | $9.16B | 5.65% |
| Capital Group | 3 | $7.23B | 4.47% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $525M |
| iShares | $192M |
| JPMorgan | $141M |
| Outflows | |
| Allspring | $0M |
| American Century | $0M |
| Avantis | $0M |
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.
