Weekly Channel Summary
The Municipal ETF channel continues to show significant breadth with 137 ETFs managed by 48 distinct brands. Total Assets Under Management (AUM) for the channel currently stands at approximately $195.4 billion. Over the past week, the segment attracted $357 million in net new money, contributing to a robust Year-to-Date (YTD) inflow of $6.27 billion and a trailing one-year flow total of $43.16 billion.
This Week’s Performance Leaders and Laggards
Performance across the municipal space was positive this week, led by the High Yield category, which posted a Week-to-Date (WTD) return of 0.42%. Conversely, the Short duration category was the week’s laggard with a modest gain of 0.16%. On a Year-to-Date basis, all major categories remain in positive territory, with High Yield leading the pack at 1.71%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| High Yield | 0.42% | 1.02% | 1.95% | 6.57% | 1.71% | 4.79% |
| Long | 0.36% | 0.83% | 1.38% | 7.03% | 1.33% | 4.00% |
| Intermediate | 0.35% | 0.95% | 1.87% | 5.55% | 1.54% | 5.60% |
| Single State | 0.32% | 0.84% | 1.63% | 5.49% | 1.36% | 4.68% |
| Short | 0.16% | 0.58% | 1.38% | 2.08% | 0.93% | 4.29% |
Top & Bottom 5 ETFs by Weekly Performance
The XMPT (VanEck CEF Muni Income ETF) led the channel this week with a 1.05% return. On the other end of the spectrum, the NMB (Simplify National Muni Bond ETF) and PVI (Invesco Floating Rate Municipal Income ETF) were the notable laggards, with NMB being the only fund in our tracker to post a negative return of -0.08%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| XMPT | VanEck CEF Muni Income ETF | 1.05% |
| HTAB | Hartford Schroders Tax-Aware Bond ETF | 0.70% |
| EVYM | Eaton Vance High Income Municipal ETF | 0.52% |
| MFLX | First Trust Flexible Municipal High Income ETF | 0.48% |
| NHYM | Nuveen High Yield Municipal Income ETF | 0.47% |
| Bottom Performers | ||
| NMB | Simplify National Muni Bond ETF | -0.08% |
| PVI | Invesco Floating Rate Municipal Income ETF | 0.04% |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | 0.06% |
| FUMB | First Trust Ultra Short Duration Municipal ETF | 0.08% |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | 0.08% |
Analyzing the Weekly Flows
The channel realized a net inflow of $357 million this week. The Single State category received the highest relative support with $148 million in new assets, while the Short duration segment followed closely with $144 million. Conversely, the broad Intermediate category—the channel’s largest by AUM at $129.8 billion—witnessed net outflows of approximately $63 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Single State | 28 | $14.8B | $148M | $618M | $824M | $3,293M |
| Short | 25 | $30.2B | $144M | $294M | $685M | $8,515M |
| High Yield | 18 | $15.7B | $72M | $693M | $779M | $5,485M |
| Long | 10 | $6.0B | $55M | $389M | $412M | $982M |
| Intermediate | 57 | $129.8B | ($63M) | $1,993M | $3,565M | $24,886M |
Top & Bottom 5 ETFs by 5-Day Flow
The VCRM (Vanguard Core Tax-Exempt Bond ETF) was the top individual flow leader, drawing in $90 million. Flow laggards were dominated by the VTEB (Vanguard Tax-Exempt Bond ETF), which saw a substantial outflow of $583 million, followed by much smaller departures from the BKMS (BNY Mellon Municipal Short Duration ETF).
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VCRM | Vanguard Core Tax-Exempt Bond ETF | $90M |
| JMUB | JPMorgan Municipal ETF | $87M |
| CGMU | Capital Group Municipal Income ETF | $70M |
| CMF | iShares California Muni Bond ETF | $58M |
| SCMB | Schwab Municipal Bond ETF | $52M |
| Outflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | ($583M) |
| BKMS | BNY Mellon Municipal Short Duration ETF | ($3M) |
| BKMI | BNY Mellon Municipal Intermediate ETF | ($2M) |
| FUMB | First Trust Ultra Short Duration Municipal ETF | ($1M) |
| AMUN | Abrdn Ultra Short Muncipal Income Active ETF | ($1M) |
Issuer League Table Update
iShares remains the dominant force in the Municipal channel with a 32.66% market share, followed by Vanguard at 25.33%. In terms of weekly flow activity, iShares gathered the most assets with $155 million in net inflows, while Vanguard experienced the largest outflow among top-tier issuers, losing approximately $394 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $63.80B | 32.66% |
| Vanguard | 8 | $49.48B | 25.33% |
| JPMorgan | 4 | $13.79B | 7.12% |
| SPDR | 5 | $9.61B | 4.96% |
| Capital Group | 3 | $9.00B | 4.64% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $155M |
| JPMorgan | $115M |
| Capital Group | $102M |
| Outflows | |
| Vanguard | ($394M) |
| BNY Mellon | ($5M) |
| aberdeen | ($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.
