Weekly Channel Summary
The FI: Taxable channel continues to demonstrate massive scale, currently commanding $2,125.2B in total Assets Under Management (AUM) across 669 distinct ETFs from 138 issuers. Over the past week, the space saw robust demand, attracting $10.25B in net new inflows. This strong 5-day flow activity builds on a powerful long-term trend, pushing Year-to-Date (YTD) net flows to $80.84B and an impressive $404.88B accumulated over the trailing one-year period.
This Week’s Performance Leaders and Laggards
Preferred Stock and Convertible ETFs set the pace this week, returning 0.29% and 0.28% respectively, positioning them among the strongest categories Year-to-Date as well. Conversely, International and Government Long categories were the primary laggards for the week, returning -0.38% and -0.28%, though Government Long remains solidly in positive territory (+2.38%) on a YTD basis.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Preferred Stock | 0.29% | 1.06% | 3.84% | 3.92% | 1.97% | 7.07% |
| Convertible | 0.28% | 1.36% | 8.98% | 9.99% | 5.58% | 26.61% |
| International USD | 0.19% | 1.15% | 1.23% | 2.24% | 1.18% | 4.61% |
| High Yield | 0.16% | 0.54% | 2.40% | 3.69% | 0.97% | 7.53% |
| Ultrashort | 0.06% | 0.38% | 1.26% | 2.47% | 0.65% | 5.04% |
| Government Ultrashort | 0.05% | 0.32% | 0.99% | 2.00% | 0.50% | 4.14% |
| Emerging USD | 0.04% | 2.14% | 3.01% | 6.56% | 1.90% | 12.56% |
| Corporate | 0.00% | 1.41% | 1.78% | 3.58% | 1.21% | 7.84% |
| Multisector Taxable | -0.01% | 1.11% | 2.18% | 3.72% | 1.28% | 6.98% |
| Short-Term | -0.01% | 0.71% | 1.40% | 2.76% | 0.77% | 6.23% |
| Emerging | -0.02% | 1.70% | 3.72% | 6.41% | 2.12% | 13.35% |
| Core Enhanced | -0.04% | 1.45% | 1.85% | 4.05% | 1.36% | 7.70% |
| Core | -0.05% | 1.48% | 1.66% | 3.78% | 1.26% | 7.40% |
| Long-Term | -0.05% | 2.49% | 2.23% | 4.97% | 2.07% | 8.41% |
| Government Short | -0.05% | 0.64% | 1.02% | 2.33% | 0.57% | 5.38% |
| Securitized | -0.06% | 1.26% | 2.05% | 4.26% | 1.37% | 8.07% |
| Inflation Protected | -0.09% | 1.08% | 0.97% | 2.26% | 0.98% | 5.79% |
| Government Intermediate | -0.15% | 1.44% | 1.16% | 3.10% | 1.01% | 7.34% |
| Bank Loans | -0.23% | -0.93% | 0.56% | 1.12% | -0.44% | 3.75% |
| Government Long | -0.28% | 3.31% | 1.24% | 4.97% | 2.38% | 6.39% |
| International | -0.38% | 1.81% | 3.64% | 3.14% | 1.85% | 11.56% |
Top & Bottom 5 ETFs by Weekly Performance
Drilling down to individual funds, the Calamos Convertible Equity Alternative ETF (CVRT) claimed the top spot this week, edging out its peers with a solid 0.86% return. On the other end of the spectrum, the Virtus Private Credit Strategy ETF (VPC) faced significant headwinds, dropping -3.04%, followed by the Digital Asset Debt Strategy ETF (DADS), which lost -0.76%.
| Top Performers | ||
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| CVRT | Calamos Convertible Equity Alternative ETF | 0.86% |
| PFFR | InfraCap REIT Preferred ETF | 0.57% |
| PGX | Invesco Preferred ETF | 0.55% |
| PGF | Invesco Financial Preferred ETF | 0.54% |
| PFFA | Virtus InfraCap U.S. Preferred Stock ETF | 0.51% |
| Bottom Performers | ||
| Ticker | Fund Name | WTD Performance |
| VPC | Virtus Private Credit Strategy ETF | -3.04% |
| DADS | Digital Asset Debt Strategy ETF | -0.76% |
| ISHG | iShares 1-3 Year International Treasury Bond ETF | -0.76% |
| TUA | Simplify Short Term Treasury Futures Strategy ETF | -0.71% |
| TYA | Simplify Intermediate Term Treasury Futures Strategy ETF | -0.54% |
Analyzing the Weekly Flows
The channel experienced a massive influx of capital this week, recording $10.25B in net flows. Breaking down the activity, the FI: Multi-Sector segment saw the lion’s share of allocations with $4,822M in inflows. From a credit perspective, Investment Grade bonds utterly dominated, raking in $7,889M. Interest rate positioning heavily favored the middle of the curve, with Intermediate Duration bonds capturing a staggering $5,867M. No major segments posted negative net flows, though FI: Cat Bonds ($1M) and Credit: High Yield ($5M) saw negligible activity.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| FI: Multi-Sector | 278 | $889.3B | $4,822M | $25,402M | $69,109M | $43,599M | $205,890M |
| Fl: Government | 117 | $640.2B | $3,352M | $10,449M | $30,933M | $18,367M | $122,045M |
| FI: Corporate | 164 | $387.8B | $1,292M | $10,578M | $17,473M | $12,403M | $52,035M |
| FI: Securitized | 40 | $105.1B | $321M | $1,040M | $3,305M | $1,791M | $17,103M |
| FI: Preferred Stock | 25 | $41.0B | $287M | $356M | $655M | $360M | $2,045M |
| FI: Bank Loans | 37 | $61.8B | $170M | $2,096M | $4,647M | $4,253M | $5,668M |
| FI: Cat Bonds | 1 | $0.0B | $1M | $10M | $26M | $11M | $45M |
Flows by Credit Type
| Credit Type | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Credit: Investment Grade | 344 | $1,698.5B | $7,889M | $38,307M | $89,676M | $61,854M | $308,414M |
| Credit: Blend | 168 | $238.7B | $2,350M | $10,438M | $28,923M | $17,226M | $75,847M |
| Credit: High Yield | 149 | $187.9B | $5M | $1,174M | $7,522M | $1,691M | $20,449M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 398 | $1,245.6B | $5,867M | $31,379M | $83,417M | $52,236M | $249,232M |
| Duration: Ultrashort | 123 | $402.1B | $2,521M | $11,848M | $28,017M | $19,299M | $99,013M |
| Duration: Long | 56 | $198.1B | $951M | -$742M | -$378M | -$1,118M | $9,587M |
| Duration: Short | 84 | $279.2B | $904M | $7,434M | $15,064M | $10,354M | $46,878M |
Top & Bottom 5 ETFs by 5-Day Flow
At the individual fund level, the iShares 0-3 Month Treasury Bond ETF (SGOV) commanded the largest allocations, absorbing $1,005M in 5-day flows. Conversely, the Vanguard Short-Term Corporate Bond ETF (VCSH) and the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) experienced the heaviest redemptions, bleeding $391M and $364M, respectively.
| Inflows | ||
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| SGOV | iShares 0-3 Month Treasury Bond ETF | $1,005M |
| VCIT | Vanguard Intermediate-Term Corporate Bond ETF | $726M |
| BND | Vanguard Total Bond Market ETF | $613M |
| VGLT | Vanguard Long-Term Treasury ETF | $441M |
| BNDX | Vanguard Total International Bond ETF | $374M |
| Outflows | ||
| Ticker | Fund Name | 5-Day Flow |
| VCSH | Vanguard Short-Term Corporate Bond ETF | -$391M |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | -$364M |
| TLT | iShares 20+ Year Treasury Bond ETF | -$170M |
| BKLN | Invesco Senior Loan ETF | -$166M |
| EVSB | Eaton Vance Ultra-Short Income ETF | -$80M |
Issuer League Table Update
iShares and Vanguard firmly maintain their dominance atop the issuer league tables, controlling an imposing 37.55% and 26.77% of the FI: Taxable market share, respectively. In the latest 5-day flow contest, Vanguard narrowly outpaced the pack, gathering $2,793M compared to iShares’ $2,494M. Conversely, F/m experienced the largest aggregate outflows among issuers, shedding $18M across its product lineup over the same period.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 86 | $798.13B | 37.55% |
| Vanguard | 30 | $568.92B | 26.77% |
| SPDR | 39 | $166.12B | 7.82% |
| JPMorgan | 19 | $81.56B | 3.84% |
| Schwab | 12 | $72.46B | 3.41% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| Brand | 5-Day Flow |
|---|---|
| Vanguard | $2,793M |
| iShares | $2,494M |
| JPMorgan | $849M |
| Outflows | |
| Brand | 5-Day Flow |
| F/m | -$18M |
| FlexShares | -$15M |
| Goldman Sachs | -$12M |
For a deeper dive into these trends, access our FREE, in-depth Taxable 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.
