Weekly Channel Summary
The FI: Municipal channel includes 115 ETFs from 44 issuers, with a total AUM of $168B. The channel experienced inflows of $0.85B over the past week, bringing Year-to-Date inflows to $26.79B and 1-Year inflows to $32.57B.
This Week’s Performance Leaders and Laggards
The High Yield category led performance this week with a 0.34% return. The Short category was the only laggard, posting a -0.02% return. Year-to-date, the Intermediate category remains the top performer at 4.35%, while the Long category has the lowest YTD return at 2.54%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| High Yield | 0.34% | 1.30% | 5.75% | 5.87% | 3.73% | 3.74% |
| Long | 0.25% | 1.86% | 7.20% | 6.15% | 2.54% | 3.33% |
| Intermediate | 0.24% | 1.20% | 4.69% | 5.79% | 4.35% | 4.72% |
| Single State | 0.20% | 1.22% | 4.85% | 5.20% | 2.99% | 3.61% |
| Short | -0.02% | 0.02% | 1.17% | 2.87% | 3.40% | 3.75% |
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing ETF this week was the Rareview Tax Advantaged Income ETF (RTAI), which returned 0.80%. The two worst-performing ETFs were the SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) at -0.11% and the Macquarie Tax-Free USA Short Term ETF (STAX) at -0.08%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| RTAI | Rareview Tax Advantaged Income ETF | 0.80% |
| ZTAX | X-Square Municipal Income ETF | 0.71% |
| XMPT | VanEck CEF Muni Income ETF | 0.71% |
| NMB | Simplify National Muni Bond ETF | 0.55% |
| HTAX | Macquarie National High-Yield Municipal Bond ETF | 0.41% |
| Bottom Performers | ||
| SHM | SPDR Nuveen ICE Short Term Municipal Bond ETF | -0.11% |
| STAX | Macquarie Tax-Free USA Short Term ETF | -0.08% |
| VTES | Vanguard Short-Term Tax Exempt Bond ETF | -0.08% |
| MMSD | NYLI MacKay Muni Short Duration ETF | -0.07% |
| SMB | VanEck Short Muni ETF | -0.07% |
Analyzing the Weekly Flows
The channel saw net inflows of $848M this week. The Fixed Income: Municipal – Intermediate category led the way, attracting $686M in new assets; this category holds $114.1B in AUM. The Fixed Income: Municipal – Short category also saw significant inflows of $90M, while the Fixed Income: Municipal – Long category saw the smallest inflows at $5M.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Fixed Income: Municipal – Intermediate | 50 | $114.1B | $686M | $2,991M | $6,733M | $14,219M | $18,564M |
| Fixed Income: Municipal – Short | 21 | $26.4B | $90M | $716M | $2,007M | $6,274M | $6,730M |
| Fixed Income: Municipal – High Yield | 16 | $13.3B | $41M | $403M | $2,863M | $3,926M | $4,091M |
| Fixed Income: Municipal – Single State | 20 | $9.6B | $26M | $195M | $595M | $1,813M | $2,590M |
| Fixed Income: Municipal – Long | 8 | $4.5B | $5M | $225M | $598M | $474M | $598M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares National Muni Bond ETF (MUB) was the top attractor of assets, pulling in $354M. On the other end, the SPDR Nuveen ICE Municipal Bond ETF (TFI) saw the largest outflows at -$115M, followed by the PIMCO Short Term Municipal Bond Active ETF (SMMU) with -$45M in outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| MUB | iShares National Muni Bond ETF | $354M |
| VTEB | Vanguard Tax-Exempt Bond ETF | $182M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $104M |
| CGMU | Capital Group Municipal Income ETF | $41M |
| HYMB | SPDR Nuveen ICE High Yield Municipal Bond ETF | $30M |
| Outflows | ||
| TFI | SPDR Nuveen ICE Municipal Bond ETF | -$115M |
| SMMU | PIMCO Short Term Municipal Bond Active ETF | -$45M |
| MEAR | iShares Short Maturity Municipal Bond Active ETF | -$13M |
| CGHM | Capital Group Municipal High-Income ETF | -$11M |
| PZA | Invesco National AMT-Free Municipal Bond ETF | -$5M |
Issuer League Table Update
iShares and Vanguard continue to dominate the issuer landscape, holding 35.36% and 27.52% of the market share, respectively. This week, iShares also led in asset gathering with $377M in inflows. Among the top issuers, SPDR saw the largest outflows at -$85M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $59.38B | 35.36% |
| Vanguard | 8 | $46.21B | 27.52% |
| JPMorgan | 4 | $9.82B | 5.85% |
| SPDR | 5 | $9.58B | 5.70% |
| Capital Group | 3 | $7.54B | 4.49% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $377M |
| Vanguard | $223M |
| JPMorgan | $132M |
| Outflows | |
| SPDR | -$85M |
| PIMCO | -$40M |
| First Trust | -$8M |
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.
