Weekly Channel Summary
The FI: Municipal ETF channel currently stands at $206.3 billion in total Assets Under Management (AUM) across 135 ETFs and 48 issuers. Over the past week, the channel experienced robust net inflows of $1.50 billion. This recent capital injection adds to a strong trajectory for the category, bringing Year-to-Date (YTD) net flows to $19.45 billion and 1-Year net flows to $50.55 billion.
This Week’s Performance Leaders and Laggards
During the week, the Short category led relative performance despite a slightly negative Week-to-Date (WTD) return of -0.21% (0.60% YTD). Conversely, the Long category lagged the broader market, posting a -1.06% WTD return (0.52% YTD).
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Short | -0.21% | -0.14% | -0.31% | 1.06% | 0.60% | 3.51% |
| Intermediate | -0.75% | -0.47% | -1.11% | 0.76% | 0.37% | 5.47% |
| Single State | -0.79% | -0.46% | -0.84% | 0.79% | 0.48% | 5.09% |
| High Yield | -0.98% | -0.35% | -0.63% | 1.35% | 1.07% | 6.05% |
| Long | -1.06% | -0.69% | -0.81% | 0.61% | 0.52% | 5.67% |
Top & Bottom 5 ETFs by Weekly Performance
Among individual funds, the F/m Ultrashort Tax-Free Municipal ETF (ZMUN) posted the highest weekly return at 0.06%. On the opposite end of the spectrum, the Rareview Tax Advantaged Income ETF (RTAI) and the VanEck CEF Muni Income ETF (XMPT) faced the steepest declines, shedding -1.86% and -1.77%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| ZMUN | F/m Ultrashort Tax-Free Municipal ETF | 0.06% |
| PVI | Invesco Floating Rate Municipal Income ETF | 0.04% |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | 0.00% |
| AMUN | Abrdn Ultra Short Muncipal Income Active ETF | 0.00% |
| FUMB | First Trust Ultra Short Duration Municipal ETF | -0.02% |
| Bottom Performers | ||
| RTAI | Rareview Tax Advantaged Income ETF | -1.86% |
| XMPT | VanEck CEF Muni Income ETF | -1.77% |
| YYYM | Amplify Municipal CEF High Income ETF | -1.52% |
| BAB | Invesco Taxable Municipal Bond ETF | -1.42% |
| PZT | Invesco New York AMT-Free Municipal Bond ETF | -1.35% |
Analyzing the Weekly Flows
The Municipal ETF channel attracted a robust $1.50 billion in net inflows this week. The Intermediate duration category captured the lion’s share, pulling in $1.25 billion across its broad $165.7 billion asset base. The Short duration segment also saw notable interest, gathering $193 million in new assets. No major category suffered net outflows on a consolidated basis this week.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 98 | $165.7B | $1,252M | $4,878M | $9,348M | $14,382M | $38,391M |
| Duration: Short | 27 | $32.7B | $193M | $673M | $1,748M | $2,553M | $8,969M |
| Credit: High Yield | 21 | $16.0B | $191M | $604M | $209M | $992M | $5,132M |
| Duration: Long | 10 | $8.0B | $56M | $265M | $2,078M | $2,512M | $3,192M |
Top & Bottom 5 ETFs by 5-Day Flow
At the fund level, the iShares National Muni Bond ETF (MUB) led the pack, drawing in $362 million in weekly creations. Conversely, the State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) and the State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) experienced the largest redemptions, bleeding -$64 million and -$19 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| MUB | iShares National Muni Bond ETF | $362M |
| VTEB | Vanguard Tax-Exempt Bond ETF | $210M |
| CGMU | Capital Group Municipal Income ETF | $93M |
| JMUB | JPMorgan Municipal ETF | $88M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $86M |
| Outflows | ||
| TFI | State Street SPDR Nuveen ICE Municipal Bond ETF | -$64M |
| SHM | State Street SPDR Nuveen ICE Short Term Municipal Bond ETF | -$19M |
| BMOP | BNY Mellon Municipal Opportunities ETF | -$10M |
| FTMS | Franklin Short-Term Municipal Income ETF | -$3M |
| BKMI | BNY Mellon Municipal Intermediate ETF | -$2M |
Issuer League Table Update
iShares and Vanguard continue to dominate the Municipal ETF landscape, commanding 32.62% and 25.18% of the total market share, respectively. iShares also controlled the weekly flows race, amassing $536 million in net new assets. In contrast, SPDR faced the stiffest headwinds among top issuers, registering -$78 million in net outflows over the 5-day period.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $67.32B | 32.62% |
| Vanguard | 8 | $51.95B | 25.18% |
| JPMorgan | 4 | $14.57B | 7.06% |
| Capital Group | 3 | $10.15B | 4.92% |
| SPDR | 4 | $9.37B | 4.54% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $536M |
| Vanguard | $331M |
| JPMorgan | $179M |
| Outflows | |
| SPDR | -$78M |
| BNY Mellon | -$12M |
| aberdeen | $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.
