Weekly Channel Summary
The FI: Municipal ETF channel currently manages $196.0 billion in Assets Under Management (AUM) across 136 ETFs offered by 47 unique issuers. Over the past week, the channel experienced net inflows of $230 million. Looking at broader timeframes, year-to-date (YTD) flows stand at a robust $6.50 billion, while the 1-year flow total reflects significant demand, accumulating $42.37 billion in net new assets.
This Week’s Performance Leaders and Laggards
In the municipal bond space, the Long category led weekly performance with a WTD return of 0.26%, bringing its YTD performance to 1.60%. Conversely, the Short category lagged the group, posting a WTD return of 0.06% (YTD 0.99%).
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long | 0.26% | 1.43% | 1.78% | 7.48% | 1.60% | 3.76% |
| High Yield | 0.20% | 1.40% | 2.31% | 7.17% | 1.91% | 4.45% |
| Single State | 0.18% | 1.20% | 1.81% | 5.88% | 1.54% | 4.47% |
| Intermediate | 0.16% | 1.25% | 2.06% | 5.80% | 1.69% | 5.43% |
| Short | 0.06% | 0.59% | 1.42% | 2.24% | 0.99% | 4.21% |
Top & Bottom 5 ETFs by Weekly Performance
At the fund level, the Simplify National Muni Bond ETF (NMB) was the top performer, returning 0.36% for the week. On the downside, the VanEck CEF Muni Income ETF (XMPT) and the First Trust Ultra Short Duration Municipal ETF (FUMB) were the bottom performers, returning -0.04% and 0.03% respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| NMB | Simplify National Muni Bond ETF | 0.36% |
| LTAX | Nomura Tax-Free USA ETF | 0.36% |
| PZT | Invesco New York AMT-Free Municipal Bond ETF | 0.34% |
| HTAX | Nomura National High-Yield Municipal Bond ETF | 0.33% |
| LMUB | iShares Long-Term National Muni Bond ETF | 0.30% |
| Bottom Performers | ||
| XMPT | VanEck CEF Muni Income ETF | -0.04% |
| FUMB | First Trust Ultra Short Duration Municipal ETF | 0.03% |
| AMUN | Abrdn Ultra Short Muncipal Income Active ETF | 0.04% |
| AUSM | Allspring Ultra Short Municipal ETF | 0.04% |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | 0.04% |
Analyzing the Weekly Flows
The channel gathered $230 million in net flows this week. The Credit: Blend segment attracted the most capital, reeling in $468 million to build on its $52.3 billion in AUM. Duration: Short ETFs also saw significant interest with $160 million in weekly inflows. On the outflow side, the Credit: Investment Grade category faced the largest redemptions, losing -$373 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Credit: Blend | 69 | $52.3B | $468M | $2,999M | $7,955M | $4,505M | $24,321M |
| Duration: Short | 27 | $31.4B | $160M | $889M | $2,738M | $965M | $9,083M |
| Credit: High Yield | 20 | $16.1B | $136M | $501M | $1,728M | $919M | $5,531M |
| Duration: Intermediate | 99 | $158.5B | $62M | $1,931M | $9,822M | $5,090M | $32,244M |
| Duration: Long | 10 | $6.0B | $8M | $377M | $528M | $442M | $1,042M |
| Credit: Investment Grade | 47 | $127.5B | -$373M | -$302M | $3,404M | $1,073M | $12,518M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares High Yield Muni Active ETF (HIMU) led all individual products with $82 million in new assets. Conversely, the Vanguard Tax-Exempt Bond ETF (VTEB) and the VanEck Long Muni ETF (MLN) experienced the heaviest outflows, shedding -$560 million and -$4 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| HIMU | iShares High Yield Muni Active ETF | $82M |
| CGMU | Capital Group Municipal Income ETF | $62M |
| JMUB | JPMorgan Municipal ETF | $59M |
| CMF | iShares California Muni Bond ETF | $44M |
| VTEC | Vanguard California Tax-Exempt Bond ETF | $43M |
| Outflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | -$560M |
| MLN | VanEck Long Muni ETF | -$4M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | -$3M |
| PZT | Invesco New York AMT-Free Municipal Bond ETF | -$2M |
Issuer League Table Update
iShares and Vanguard continue to dominate the market share landscape, commanding 32.74% and 25.11% of the channel’s AUM, respectively. This week, iShares gathered the most assets with $219 million in inflows, while Vanguard recorded the largest outflows, shedding -$405 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $64.12B | 32.74% |
| Vanguard | 8 | $49.17B | 25.11% |
| JPMorgan | 4 | $13.86B | 7.08% |
| SPDR | 5 | $9.62B | 4.91% |
| Capital Group | 3 | $9.11B | 4.65% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $219M |
| Capital Group | $99M |
| JPMorgan | $56M |
| Outflows | |
| Vanguard | -$405M |
| SPDR | $0M |
| Fidelity | $0M |
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.
