Weekly Channel Summary
The Specialty Fixed Income channel, comprising 157 ETFs from 13 issuers, holds a total of $73.59 billion in assets under management. The category registered net inflows of $341 million for the week, contributing to a robust year-to-date accumulation of $10.08 billion. Over the past year, investors have allocated a substantial $21.21 billion to this specialized segment of the bond market.
This Week’s Performance Leaders and Laggards
Performance within the Specialty Fixed Income channel was mixed this week, with Maturing Ladder funds leading gains at 0.48%. The largest category, Defined Maturity, also posted a positive return of 0.33%, continuing its steady performance which has resulted in a 1.18% gain year-to-date. In contrast, Interest Rate Volatility funds were the sole detractors, declining by 0.62% for the week.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Specialty – Maturing Ladder | 0.48% | -0.46% | -0.57% | -0.54% | 0.07% | 0.76% |
| Specialty – Defined Maturity | 0.33% | 0.22% | 0.53% | 0.70% | 1.18% | 3.41% |
| Specialty – Interest Rate Volatility | -0.62% | 2.10% | 0.48% | 1.63% | 1.36% | -0.65% |
Top & Bottom 5 ETFs by Weekly Performance
Long-duration defined maturity Treasury funds dominated the top performance charts this week. The iShares iBonds Dec 2054 Term Treasury ETF (IBGK) led all funds with a 1.07% gain, closely followed by its 2046 and 2056 maturity counterparts. On the other end of the spectrum, the Simplify Interest Rate Hedge ETF (PFIX) experienced the largest decline, falling 3.70%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| IBGK | iShares iBonds Dec 2054 Term Treasury ETF | 1.07% |
| MYHE | State Street My2031 High Yield Corporate Bond ETF | 1.06% |
| IBGC | iShares iBonds Dec 2046 Term Treasury ETF | 1.06% |
| IBGM | iShares iBonds Dec 2056 Term Treasury ETF | 1.05% |
| IBHM | iShares iBonds 2033 Term High Yield and Income ETF | 1.05% |
| Bottom Performers | ||
| PFIX | Simplify Interest Rate Hedge ETF | -3.70% |
| RFIX | Simplify Bond Bull ETF | -1.52% |
| RINF | ProShares Inflation Expectations ETF | -0.42% |
| BNDD | Quadratic Deflation ETF | -0.22% |
| IBIC | iShares iBonds Oct 2026 Term TIPS ETF | 0.00% |
Analyzing the Weekly Flows
The Specialty Fixed Income channel attracted $341 million in net new assets, overwhelmingly directed towards Defined Maturity strategies which collected $331 million. By segment, both Corporate and Government bond ETFs saw healthy demand, pulling in $166 million and $152 million, respectively. A clear theme emerged in duration positioning, as investors withdrew $145 million from funds maturing in 2026 while rotating into longer-dated options, with 2028 and 2030 maturities gathering the most assets.
Flows by Category
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Specialty – Defined Maturity | 129 | $72.59B | $331M | $1,469M | $3,759M | $10,126M | $21,235M |
| Specialty – Interest Rate Volatility | 8 | $857M | $10M | -$37M | $6M | -$76M | $86M |
| Specialty – Maturing Ladder | 20 | $148M | -$0M | $0M | $11M | $26M | -$114M |
Flows by Segment
| Segment | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Corporate | 64 | $55.35B | $166M | $839M | $2,461M | $6,891M | $15,007M |
| Government | 63 | $13.08B | $152M | $493M | $1,068M | $2,334M | $4,509M |
| Municipal | 30 | $5.17B | $22M | $100M | $247M | $851M | $1,690M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: 2026 | 10 | $11.81B | -$145M | -$463M | -$1,126M | -$1,891M | -$679M |
| Duration: 2027 | 13 | $13.35B | $53M | $232M | $433M | $1,344M | $2,853M |
| Duration: 2028 | 14 | $12.72B | $94M | $431M | $1,140M | $2,753M | $4,607M |
| Duration: 2029 | 13 | $10.37B | $55M | $327M | $924M | $2,020M | $3,751M |
| Duration: 2030 | 17 | $8.34B | $90M | $375M | $828M | $1,903M | $3,666M |
| Duration: 2031 | 13 | $5.62B | $52M | $247M | $611M | $1,315M | $2,275M |
| Duration: 2032 | 11 | $4.23B | $40M | $130M | $344M | $817M | $1,607M |
| Duration: 2033 | 11 | $2.85B | $1M | $28M | $190M | $496M | $957M |
| Duration: 2034 | 10 | $1.97B | $14M | $26M | $126M | $593M | $1,078M |
| Duration: 2035 | 13 | $1.09B | $7M | $40M | $125M | $572M | $735M |
| Duration: 2036 | 5 | $153M | $13M | $38M | $98M | $138M | $138M |
| Duration: 2044 | 1 | $103M | $1M | $4M | $14M | $22M | $38M |
| Duration: 2045 | 3 | $20M | $0M | $0M | $0M | $0M | $4M |
| Duration: 2046 | 1 | $28M | $18M | $19M | $24M | $27M | $27M |
| Duration: 2050 | 2 | $8M | $0M | $0M | $0M | $0M | $4M |
| Duration: 2054 | 1 | $6M | $0M | $0M | $2M | $2M | $4M |
| Duration: 2055 | 5 | $24M | $0M | $1M | -$2M | -$0M | $5M |
| Duration: 2056 | 1 | $40M | $36M | $36M | $36M | $38M | $38M |
| Duration: 2060 | 2 | $8M | $0M | $0M | $2M | $2M | $5M |
| Duration: 2065 | 2 | $7M | $0M | $0M | $0M | $0M | $7M |
| Duration: Long | 1 | $1M | $0M | $0M | $0M | $0M | $0M |
Top & Bottom 5 ETFs by 5-Day Flow
At the fund level, the iShares iBonds Dec 2056 Term Treasury ETF (IBGM) was the week’s top asset gatherer, securing $36 million in new capital. This highlights the trend of investors moving into longer-dated defined maturity products. Conversely, redemptions were concentrated in funds with near-term maturities, as the iShares iBonds Dec 2026 Term Treasury ETF (IBTG) and the Invesco BulletShares 2026 Corporate Bond ETF (BSCQ) saw the largest outflows, shedding $47 million and $38 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| IBGM | iShares iBonds Dec 2056 Term Treasury ETF | $36M |
| IBTK | iShares iBonds Dec 2030 Term Treasury ETF | $32M |
| MYCH | State Street My2028 Corporate Bond ETF | $31M |
| IBTI | iShares iBonds Dec 2028 Term Treasury ETF | $29M |
| IBTL | iShares iBonds Dec 2031 Term Treasury ETF | $23M |
| Outflows | ||
| IBTG | iShares iBonds Dec 2026 Term Treasury ETF | -$47M |
| BSCQ | Invesco BulletShares 2026 Corporate Bond ETF | -$38M |
| IBDR | iShares iBonds Dec 2026 Term Corporate ETF | -$29M |
| IBHF | iShares iBonds 2026 Term High Yield and Income ETF | -$18M |
| BSJQ | Invesco BulletShares 2026 High Yield Corp Bond ETF | -$7M |
Issuer League Table Update
The issuer landscape remains highly concentrated, with iShares controlling 58.22% of the channel’s assets and Invesco holding a 38.52% market share. iShares also led the week in asset gathering, attracting $213 million in net inflows across its fund lineup. Invesco followed with a respectable $77 million in new assets, while no major issuer experienced significant net outflows for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 57 | $42.84B | 58.22% |
| Invesco | 35 | $28.35B | 38.52% |
| State Street | 21 | $1.05B | 1.43% |
| Vanguard | 10 | $342M | 0.46% |
| FolioBeyond | 1 | $314M | 0.43% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $213M |
| Invesco | $77M |
| State Street | $32M |
| Outflows | |
| Northern Trust | -$0M |
| Global X | -$0M |
| 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.
