Weekly Channel Summary
The FI: Specialty channel closed the week with $75.97B in total AUM spread across 167 ETFs from 13 issuers. Net flows were positive at $335M for the five-day period, extending a solid run of accumulation that has pushed YTD net flows to $13,237M and 1-Year net flows to $19,565M. The channel continues to see sustained investor interest in defined-maturity and laddered fixed income structures over the trailing year.
This Week’s Performance Leaders and Laggards
On a WTD basis, the Specialty – Maturing Ladder category led the channel with a 0.76% gain, followed by Specialty – Defined Maturity at 0.21%, while Specialty – Interest Rate Volatility lagged with a -0.48% decline. Despite its weekly pullback, the Interest Rate Volatility category remains the strongest performer over longer horizons, up 7.30% YTD and 11.02% over the trailing year. Defined Maturity funds, the largest category by count, have posted modest but consistent gains across all timeframes, up 0.82% YTD. The Maturing Ladder category, by contrast, remains in negative territory YTD at -0.42% despite its recent weekly strength.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Specialty – Maturing Ladder | 0.76% | 1.39% | -0.20% | -1.26% | -0.42% | -0.83% |
| Specialty – Defined Maturity | 0.21% | 0.62% | 0.21% | 0.13% | 0.82% | 1.42% |
| Specialty – Interest Rate Volatility | -0.48% | 3.28% | 5.65% | 8.52% | 7.30% | 11.02% |
Top & Bottom 5 ETFs by Weekly Performance
RFIX topped the fund list with a 3.89% weekly gain, far outpacing the next-best performers, a cluster of long-dated iShares iBonds term Treasury funds including IBGM at 1.71%. On the downside, PFIX was the week’s weakest performer, falling 2.01%, consistent with its role as an interest rate hedge amid the broader rate volatility category’s weekly softness. RISR also declined on the week, down 0.62%, despite being the channel’s top asset gatherer. The spread between top and bottom performers highlights the divergent behavior of rate-hedging strategies versus defined-maturity and term-dated structures this week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| RFIX | Simplify Bond Bull ETF | 3.89% |
| IBGM | iShares iBonds Dec 2056 Term Treasury ETF | 1.71% |
| IBGL | iShares iBonds Dec 2055 Term Treasury ETF | 1.67% |
| IBGK | iShares iBonds Dec 2054 Term Treasury ETF | 1.65% |
| BSMA | Invesco BulletShares 2036 Municipal Bond ETF | 1.63% |
| Bottom Performers | ||
| PFIX | Simplify Interest Rate Hedge ETF | -2.01% |
| RISR | FolioBeyond Alternative Income and Interest Rate Hedge ETF | -0.62% |
| RINF | ProShares Inflation Expectations ETF | -0.33% |
| BSJV | Invesco BulletShares 2031 High Yield Corporate Bond ETF | -0.18% |
| MYHE | State Street My2031 High Yield Corporate Bond ETF | -0.17% |
Analyzing the Weekly Flows
The channel attracted $335M in net inflows for the week, led decisively by the Specialty – Defined Maturity category at $285M, with Specialty – Interest Rate Volatility adding a further $48M. The Specialty – Maturing Ladder category was roughly flat, gathering just $2M. By segment, Government-focused funds drew the largest inflows at $226M, followed by Municipal at $56M and Corporate at $52M. Looking at duration exposure, the 2029 and 2028 maturity buckets led inflows at $87M and $86M respectively, while the 2026 bucket saw the largest outflow at -$189M as near-dated bond ladders continued to roll off.
Flows by Category
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Specialty – Defined Maturity | 131 | $74.68B | $285M | $1,400M | $3,701M | $13,121M | $19,448M |
| Specialty – Interest Rate Volatility | 7 | $1.04B | $48M | $137M | $177M | $88M | $136M |
| Specialty – Maturing Ladder | 28 | $184M | $2M | $11M | $1M | $29M | -$20M |
Flows by Segment
| Segment | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Government | 65 | $14.50B | $226M | $910M | $1,809M | $3,837M | $5,104M |
| Municipal | 36 | $5.59B | $56M | $218M | $470M | $1,276M | $1,788M |
| Corporate | 65 | $55.82B | $52M | $419M | $1,599M | $8,125M | $12,674M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: 2026 | 9 | $9.84B | -$189M | -$924M | -$2,103M | -$3,693M | -$2,895M |
| Duration: 2027 | 13 | $13.75B | $19M | $108M | $550M | $1,773M | $2,588M |
| Duration: 2028 | 14 | $13.49B | $86M | $322M | $1,061M | $3,591M | $4,706M |
| Duration: 2029 | 12 | $10.82B | $87M | $408M | $748M | $2,616M | $3,622M |
| Duration: 2030 | 17 | $8.89B | $42M | $362M | $866M | $2,596M | $3,672M |
| Duration: 2031 | 15 | $6.17B | $52M | $317M | $786M | $1,973M | $2,436M |
| Duration: 2032 | 13 | $4.46B | $47M | $189M | $401M | $1,139M | $1,555M |
| Duration: 2033 | 11 | $3.13B | $21M | $144M | $366M | $850M | $1,027M |
| Duration: 2034 | 10 | $2.19B | $32M | $140M | $294M | $867M | $1,093M |
| Duration: 2035 | 13 | $1.40B | $44M | $135M | $358M | $912M | $1,087M |
| Duration: 2036 | 9 | $459M | $39M | $188M | $312M | $424M | $424M |
| Duration: 2044 | 1 | $74M | $2M | $0M | -$25M | -$5M | $4M |
| Duration: 2045 | 3 | $26M | $3M | $3M | $6M | $7M | $8M |
| Duration: 2046 | 3 | $69M | -$1M | $8M | $47M | $56M | $56M |
| Duration: 2050 | 2 | $8M | $0M | $0M | $0M | $0M | $1M |
| Duration: 2054 | 1 | $5M | $0M | $0M | $0M | $2M | $4M |
| Duration: 2055 | 5 | $26M | $2M | $8M | $2M | $2M | $1M |
| Duration: 2056 | 3 | $54M | $0M | $0M | $39M | $42M | $42M |
| Duration: 2060 | 2 | $4M | $0M | $0M | -$4M | -$2M | -$3M |
| Duration: 2065 | 2 | $6M | $0M | $1M | -$1M | -$1M | -$1M |
| Duration: Long | 1 | $1M | $0M | $0M | $0M | $0M | $0M |
Top & Bottom 5 ETFs by 5-Day Flow
FolioBeyond’s RISR was the top inflow fund for the week, gathering $56M, followed by iShares’ IBTI at $44M. On the outflow side, Invesco’s BulletShares 2026 Corporate Bond ETF (BSCQ) saw the largest redemptions at -$126M, as the fund approaches its 2026 maturity date. iShares’ iBonds Dec 2026 Term Corporate ETF (IBDR) followed with -$30M in outflows, reinforcing the broader pattern of 2026-dated funds winding down ahead of maturity.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| RISR | FolioBeyond Alternative Income and Interest Rate Hedge ETF | $56M |
| IBTI | iShares iBonds Dec 2028 Term Treasury ETF | $44M |
| BSCU | Invesco BulletShares 2030 Corporate Bond ETF | $22M |
| BSCT | Invesco BulletShares 2029 Corporate Bond ETF | $22M |
| IBDX | iShares iBonds Dec 2032 Term Corporate ETF | $21M |
| Outflows | ||
| BSCQ | Invesco BulletShares 2026 Corporate Bond ETF | -$126M |
| IBDR | iShares iBonds Dec 2026 Term Corporate ETF | -$30M |
| IBIG | iShares iBonds Oct 2030 Term TIPS ETF | -$20M |
| BSJQ | Invesco BulletShares 2026 High Yield Corp Bond ETF | -$16M |
| BSCR | Invesco BulletShares 2027 Corporate Bond ETF | -$9M |
Note: the following fund(s) were excluded from the flow totals above because the weekly flow exceeds 75% of the fund’s AUM and may be the result of a custom rebalance: MYCI ($47M).
Issuer League Table Update
iShares remains the dominant issuer in the FI: Specialty channel with a 58.37% share of AUM across 56 funds, followed by Invesco at 37.61% share across 36 funds; together these two issuers control nearly 96% of channel assets. iShares also led weekly inflows by a wide margin, pulling in $258M, with FolioBeyond adding $56M on the strength of its single RISR fund. On the outflow side, Quadratic was the only issuer to register net redemptions of note, shedding $9M over the week, while most other issuers saw negligible flow activity.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 56 | $44.34B | 58.37% |
| Invesco | 36 | $28.57B | 37.61% |
| State Street | 24 | $1.25B | 1.65% |
| Vanguard | 10 | $570M | 0.75% |
| FolioBeyond | 1 | $485M | 0.64% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $258M |
| FolioBeyond | $56M |
| Vanguard | $21M |
| Outflows | |
| Quadratic | -$9M |
| American Beacon | $0M |
| Global X | $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.
