Weekly Channel Summary
The Municipal ETF channel, comprising 139 funds from 49 issuers, holds a total of $220.87 billion in assets under management. Investors continued to allocate capital to the space, adding a substantial $1.82 billion over the past week. This recent activity contributes to a strong year-to-date net inflow of $35.39 billion and a one-year total of $58.48 billion.
This Week’s Performance Leaders and Laggards
All municipal bond categories posted gains for the week, with longer-duration strategies leading the way. The Municipal – Long category was the top performer, returning 0.95%, bringing its year-to-date gain to 1.65%. Conversely, the Municipal – Short category saw the smallest advance, rising just 0.31% for the week, though it has still returned a respectable 1.21% so far this year.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Municipal – Long | 0.95% | -1.34% | -0.11% | 0.71% | 1.65% | 7.86% |
| Municipal – High Yield | 0.72% | -1.04% | 0.51% | 1.55% | 2.33% | 7.45% |
| Municipal – Single State | 0.70% | -0.84% | 0.10% | 0.04% | 1.04% | 5.37% |
| Municipal – Intermediate | 0.64% | -0.89% | -0.05% | -0.05% | 0.93% | 5.20% |
| Municipal – Short | 0.31% | 0.10% | 0.56% | 0.51% | 1.21% | 2.37% |
Top & Bottom 5 ETFs by Weekly Performance
The VanEck CEF Muni Income ETF (XMPT) was the week’s top individual performer, gaining 1.32%. Several other funds, including the Invesco New York AMT-Free Municipal Bond ETF (PZT), also delivered returns above 1.30%. At the other end of the spectrum, ultra-short duration funds logged the smallest gains, with the F/m Ultrashort Tax-Free Municipal ETF (ZMUN) returning 0.02%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| XMPT | VanEck CEF Muni Income ETF | 1.32% |
| PZT | Invesco New York AMT-Free Municipal Bond ETF | 1.31% |
| YYYM | Amplify Municipal CEF High Income ETF | 1.23% |
| RTAI | Rareview Tax Advantaged Income ETF | 1.18% |
| PWZ | Invesco California AMT-Free Municipal Bond ETF | 1.15% |
| Bottom Performers | ||
| ZMUN | F/m Ultrashort Tax-Free Municipal ETF | 0.02% |
| AMUN | Abrdn Ultra Short Muncipal Income Active ETF | 0.09% |
| PVI | Invesco Floating Rate Municipal Income ETF | 0.10% |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | 0.10% |
| MEAR | iShares Short Maturity Municipal Bond Active ETF | 0.11% |
Analyzing the Weekly Flows
Municipal ETFs attracted a robust $1.82 billion in net new assets over the past week. Investor demand was heavily concentrated in the Municipal – Intermediate category, which alone gathered over $1.36 billion. All other municipal categories also experienced net inflows, though on a much smaller scale, with Municipal – Long funds collecting the least at just $5 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Municipal – Intermediate | 57 | $144.17B | $1,364M | $3,279M | $10,434M | $20,892M | $34,207M |
| Municipal – Short | 25 | $33.94B | $178M | $554M | $2,746M | $4,767M | $8,742M |
| Municipal – High Yield | 19 | $17.25B | $154M | $556M | $1,801M | $2,564M | $6,349M |
| Municipal – Single State | 29 | $18.30B | $114M | $465M | $2,219M | $4,353M | $5,894M |
| Municipal – Long | 9 | $7.21B | $5M | $25M | $384M | $2,818M | $3,291M |
Top & Bottom 5 ETFs by 5-Day Flow
The Vanguard Tax-Exempt Bond ETF (VTEB) led all funds, pulling in a substantial $588 million for the week. Its primary competitor, the iShares National Muni Bond ETF (MUB), also saw significant demand, attracting $348 million. On the redemption side, the VanEck High Yield Muni ETF (HYD) experienced the largest outflow at $56 million, followed by the iShares Long-Term National Muni Bond ETF (LMUB) with a minor outflow of $7 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $588M |
| MUB | iShares National Muni Bond ETF | $348M |
| HYMB | State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | $94M |
| CGMU | Capital Group Municipal Income ETF | $94M |
| SCMB | Schwab Municipal Bond ETF | $56M |
| Outflows | ||
| HYD | VanEck High Yield Muni ETF | -$56M |
| LMUB | iShares Long-Term National Muni Bond ETF | -$7M |
| BAB | Invesco Taxable Municipal Bond ETF | -$7M |
| TAFI | AB Tax-Aware Short Duration Municipal ETF | -$3M |
| FLMB | Franklin Municipal Green Bond ETF | -$1M |
Issuer League Table Update
iShares and Vanguard continue to dominate the municipal ETF landscape, controlling 31.81% and 25.62% of the market share, respectively. Vanguard led the week in asset gathering, bringing in $762 million in net new money, followed by iShares with $455 million. In contrast, VanEck registered the largest net outflow among issuers, shedding $52 million for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $70.26B | 31.81% |
| Vanguard | 8 | $56.58B | 25.62% |
| JPMorgan | 6 | $17.25B | 7.81% |
| Capital Group | 3 | $11.41B | 5.16% |
| SPDR | 4 | $9.98B | 4.52% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $762M |
| iShares | $455M |
| Capital Group | $146M |
| Outflows | |
| VanEck | -$52M |
| Northern Trust | -$1M |
| BNY Mellon | -$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.
