Weekly Channel Summary
The Municipal ETF channel encompasses 138 funds from 48 issuers, with a total AUM of $218.21 billion. Investors added a robust $1.17 billion to the channel this week, bringing year-to-date net inflows to a substantial $29.52 billion. Over the past year, the channel has accumulated $55.57 billion in net new assets.
This Week’s Performance Leaders and Laggards
Municipal bond ETFs posted positive returns across the board, led by the High Yield category which gained 0.38% for the week. Long-duration municipal funds also performed well, rising 0.33%, while intermediate and single-state funds saw more modest gains. On the other end of the spectrum, Short-duration funds saw the smallest increase, up just 0.09% for the week, consistent with their position as the lowest-performing category year-to-date.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Municipal – High Yield | 0.38% | 1.17% | 3.17% | 3.64% | 3.70% | 7.91% |
| Municipal – Long | 0.33% | 1.04% | 2.86% | 3.19% | 3.46% | 9.20% |
| Municipal – Intermediate | 0.19% | 0.63% | 1.83% | 1.94% | 2.07% | 6.47% |
| Municipal – Single State | 0.18% | 0.64% | 1.89% | 1.98% | 2.07% | 6.61% |
| Municipal – Short | 0.09% | 0.25% | 0.70% | 1.12% | 1.15% | 3.03% |
Top & Bottom 5 ETFs by Weekly Performance
Among individual funds, the VanEck CEF Muni Income ETF (XMPT) was the week’s top performer, returning 0.74%. It was followed closely by the Amplify Municipal CEF High Income ETF (YYYM), which also gained 0.72%. In contrast, the Invesco Taxable Municipal Bond ETF (BAB) was the notable laggard, declining by 0.74% over the same period.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| XMPT | VanEck CEF Muni Income ETF | 0.74% |
| YYYM | Amplify Municipal CEF High Income ETF | 0.72% |
| NMB | Simplify National Muni Bond ETF | 0.72% |
| HYD | VanEck High Yield Muni ETF | 0.65% |
| RTAI | Rareview Tax Advantaged Income ETF | 0.63% |
| Bottom Performers | ||
| BAB | Invesco Taxable Municipal Bond ETF | -0.74% |
| WTMU | WisdomTree Core Laddered Municipal Fund | -0.27% |
| SHYD | VanEck Short High Yield Muni ETF | -0.17% |
| CATF | American Century California Municipal Bond ETF | -0.17% |
| PUSH | PGIM Ultra Short Municipal Bond ETF | -0.03% |
Analyzing the Weekly Flows
Investors continued to allocate capital to Municipal ETFs, with the channel attracting $1.17 billion in net inflows for the week. Intermediate-duration funds were the primary destination for new assets, gathering $746 million, or nearly two-thirds of the total. Short-duration and Single State municipal funds also saw healthy demand, pulling in $174 million and $122 million, respectively.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Municipal – Intermediate | 56 | $142.75B | $746M | $2,744M | $10,187M | $17,076M | $31,915M |
| Municipal – Short | 25 | $33.21B | $174M | $1,199M | $2,218M | $3,940M | $8,764M |
| Municipal – Single State | 29 | $18.00B | $122M | $1,118M | $2,293M | $3,778M | $5,567M |
| Municipal – High Yield | 19 | $16.93B | $84M | $547M | $1,685M | $1,949M | $5,924M |
| Municipal – Long | 9 | $7.33B | $41M | $163M | $654M | $2,781M | $3,405M |
Top & Bottom 5 ETFs by 5-Day Flow
The Vanguard Tax-Exempt Bond ETF (VTEB) led all funds, attracting $293 million in net new assets. Following at a distance was the iShares National Muni Bond ETF (MUB), which collected $150 million. Outflows were minimal across the channel, with the PIMCO Short Term Municipal Bond Active ETF (SMMU) and the First Trust Ultra Short Duration Municipal ETF (FUMB) seeing the largest redemptions of just $7 million and $5 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $293M |
| MUB | iShares National Muni Bond ETF | $150M |
| CGMU | Capital Group Municipal Income ETF | $69M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $64M |
| VTEC | Vanguard California Tax-Exempt Bond ETF | $48M |
| Outflows | ||
| SMMU | PIMCO Short Term Municipal Bond Active ETF | -$7M |
| FUMB | First Trust Ultra Short Duration Municipal ETF | -$5M |
| FSMB | First Trust Short Duration Managed Municipal ETF | -$3M |
| CAM | AB California Intermediate Municipal ETF | -$3M |
| BAB | Invesco Taxable Municipal Bond ETF | -$1M |
Issuer League Table Update
The Municipal ETF market remains concentrated, with iShares and Vanguard commanding 32.12% and 25.44% of total assets, respectively. Vanguard led weekly fundraising, attracting $399 million in net inflows, followed by iShares with $259 million. No issuer experienced significant net outflows during the week, underscoring the broad-based demand for the asset class.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $70.10B | 32.12% |
| Vanguard | 8 | $55.52B | 25.44% |
| JPMorgan | 6 | $16.38B | 7.51% |
| Capital Group | 3 | $11.09B | 5.08% |
| SPDR | 4 | $9.74B | 4.46% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $399M |
| iShares | $259M |
| Capital Group | $112M |
| Outflows | |
| WisdomTree | $0M |
| MFS | $0M |
| John Hancock | $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.
