Weekly Channel Summary
The Specialty Fixed Income channel encompasses 165 ETFs from 13 issuers, with total assets under management standing at $74.26 billion. Investors added a net $296 million to the space over the past week, contributing to a year-to-date inflow of $11.03 billion. Over the last twelve months, the channel has accumulated a total of $20.54 billion in net new assets.
This Week’s Performance Leaders and Laggards
Performance was mixed across the Specialty Fixed Income landscape this week, with Interest Rate Volatility being the only category to post a gain, rising 0.40%. On the other hand, Maturing Ladder ETFs were the weakest performers with a weekly decline of -0.24%. Despite a slight dip this week, the large Defined Maturity category maintains the strongest one-year return profile, having gained 2.51% over the past twelve months.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Specialty – Interest Rate Volatility | 0.40% | -0.63% | 1.87% | 3.82% | 1.37% | -1.93% |
| Specialty – Defined Maturity | -0.08% | -0.04% | 0.27% | 0.34% | 1.07% | 2.51% |
| Specialty – Maturing Ladder | -0.24% | -0.19% | -0.84% | -1.24% | -0.05% | 0.93% |
Top & Bottom 5 ETFs by Weekly Performance
Among individual funds, the Simplify Interest Rate Hedge ETF (PFIX) delivered the strongest return, climbing 1.33% for the week. Conversely, longer-dated municipal bond funds faced headwinds. The Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) was the worst performer, falling -1.23%, followed closely by the Invesco BulletShares 2034 Municipal Bond ETF (BSMY) with a -1.13% loss.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| PFIX | Simplify Interest Rate Hedge ETF | 1.33% |
| MYMG | State Street My2027 Municipal Bond ETF | 0.82% |
| RFIX | Simplify Bond Bull ETF | 0.71% |
| RINF | ProShares Inflation Expectations ETF | 0.60% |
| MYMH | State Street My2028 Municipal Bond ETF | 0.38% |
| Bottom Performers | ||
| BSMZ | Invesco BulletShares 2035 Municipal Bond ETF | -1.23% |
| BSMY | Invesco BulletShares 2034 Municipal Bond ETF | -1.13% |
| IBMW | iShares iBonds Dec 2034 Term Muni Bond ETF | -1.05% |
| IBMX | iShares iBonds Dec 2035 Term Muni Bond ETF | -1.04% |
| BSSX | Invesco BulletShares 2033 Municipal Bond ETF | -0.95% |
Analyzing the Weekly Flows
The channel recorded net inflows of $296 million, driven almost entirely by the Defined Maturity category which attracted $301 million. This inflow was slightly offset by a minor $5 million withdrawal from Interest Rate Volatility funds. A notable trend emerged in maturity targeting, as funds maturing in 2026 saw the largest outflows of any duration at -$179 million, while investors allocated the most new capital to 2028 maturity funds, which gathered $117 million.
Flows by Category
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Specialty – Defined Maturity | 129 | $73.22B | $301M | $1,161M | $3,456M | $11,082M | $20,562M |
| Specialty – Maturing Ladder | 28 | $178M | $0M | -$6M | -$11M | $21M | -$62M |
| Specialty – Interest Rate Volatility | 8 | $862M | -$5M | $14M | -$17M | -$68M | $41M |
Flows by Segment
| Segment | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Government | 67 | $13.45B | $205M | $553M | $1,186M | $2,759M | $4,670M |
| Corporate | 64 | $55.52B | $78M | $497M | $1,958M | $7,320M | $14,208M |
| Municipal | 34 | $5.28B | $13M | $119M | $284M | $956M | $1,663M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: 2026 | 10 | $11.18B | -$179M | -$718M | -$1,456M | -$2,500M | -$1,436M |
| Duration: 2027 | 13 | $13.57B | $88M | $293M | $555M | $1,607M | $2,813M |
| Duration: 2028 | 14 | $13.01B | $117M | $371M | $1,120M | $3,088M | $4,664M |
| Duration: 2029 | 13 | $10.41B | $21M | $70M | $645M | $2,051M | $3,574M |
| Duration: 2030 | 17 | $8.49B | $62M | $272M | $843M | $2,111M | $3,630M |
| Duration: 2031 | 15 | $5.79B | $46M | $235M | $674M | $1,508M | $2,287M |
| Duration: 2032 | 11 | $4.30B | $52M | $159M | $383M | $942M | $1,662M |
| Duration: 2033 | 11 | $2.96B | $47M | $148M | $178M | $646M | $1,027M |
| Duration: 2034 | 10 | $2.02B | $30M | $84M | $133M | $674M | $1,092M |
| Duration: 2035 | 13 | $1.19B | $13M | $124M | $195M | $692M | $867M |
| Duration: 2036 | 7 | $215M | $4M | $61M | $114M | $191M | $191M |
| Duration: 2044 | 1 | $105M | $0M | $4M | $12M | $24M | $38M |
| Duration: 2045 | 3 | $23M | $0M | $3M | $2M | $3M | $7M |
| Duration: 2046 | 3 | $42M | $0M | $21M | $22M | $29M | $29M |
| Duration: 2050 | 2 | $8M | $0M | $0M | $0M | $0M | $4M |
| Duration: 2054 | 1 | $6M | $0M | $0M | $2M | $2M | $4M |
| Duration: 2055 | 5 | $20M | $0M | -$4M | -$9M | -$4M | $1M |
| Duration: 2056 | 3 | $52M | $0M | $37M | $37M | $40M | $40M |
| Duration: 2060 | 2 | $4M | $0M | -$4M | -$3M | -$2M | $1M |
| Duration: 2065 | 2 | $5M | $0M | -$2M | -$2M | -$2M | $5M |
| Duration: Long | 1 | $1M | $0M | $0M | $0M | $0M | $0M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares iBonds Dec 2027 Term Treasury ETF (IBTH) led all funds in asset gathering, pulling in $40 million for the week. Outflows were concentrated in funds with near-term maturities, particularly within the corporate bond segment. The Invesco BulletShares 2026 Corporate Bond ETF (BSCQ) experienced the largest redemption, shedding $94 million, while the iShares iBonds Dec 2026 Term Corporate ETF (IBDR) saw the second-largest outflow at $36 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| IBTH | iShares iBonds Dec 2027 Term Treasury ETF | $40M |
| BSCU | Invesco BulletShares 2030 Corporate Bond ETF | $37M |
| BSCW | Invesco BulletShares 2032 Corporate Bond ETF | $36M |
| IBDT | iShares iBonds Dec 2028 Term Corporate ETF | $31M |
| IBTO | iShares iBonds Dec 2033 Term Treasury ETF | $27M |
| Outflows | ||
| BSCQ | Invesco BulletShares 2026 Corporate Bond ETF | -$94M |
| IBDR | iShares iBonds Dec 2026 Term Corporate ETF | -$36M |
| BSCT | Invesco BulletShares 2029 Corporate Bond ETF | -$19M |
| IBHF | iShares iBonds 2026 Term High Yield and Income ETF | -$18M |
| IBTG | iShares iBonds Dec 2026 Term Treasury ETF | -$15M |
Issuer League Table Update
The issuer landscape remains highly concentrated, with iShares and Invesco dominating the channel with 58.20% and 38.25% market share, respectively. iShares also led the week in asset gathering, securing $259 million in net inflows. On the other side of the ledger, Quadratic recorded the largest net outflow among issuers, with investors pulling $13 million from its funds.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 57 | $43.21B | 58.20% |
| Invesco | 35 | $28.40B | 38.25% |
| State Street | 21 | $1.17B | 1.58% |
| Vanguard | 10 | $420M | 0.57% |
| FolioBeyond | 1 | $331M | 0.45% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $259M |
| State Street | $16M |
| Invesco | $14M |
| Outflows | |
| Quadratic | -$13M |
| Simplify | -$4M |
| KraneShares | -$0M |
For a deeper dive into these trends, access our FREE, in-depth FI: Specialty 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.
