Weekly Channel Summary
The FI: Municipal ETF channel currently oversees $211 billion in Total AUM across 135 ETFs, managed by 48 unique issuers. Over the past week, the space attracted strong investor interest, bringing in $1.98 billion in new capital. This recent momentum boosts Year-to-Date flows to $23.22 billion and impressive 1-Year flows to $53.19 billion.
This Week’s Performance Leaders and Laggards
The Long duration segment led the channel this week, posting a top Week-to-Date return of 1.45% and bringing its Year-to-Date performance to 1.90%. On the other end of the spectrum, Short duration ETFs lagged the group with a modest 0.33% WTD gain, reflecting a 0.99% YTD return.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long | 1.45% | 0.54% | -0.34% | 1.90% | 1.90% | 8.14% |
| High Yield | 1.40% | 0.90% | 0.04% | 2.58% | 2.45% | 7.81% |
| Single State | 1.10% | 0.45% | -0.46% | 1.63% | 1.51% | 6.48% |
| Intermediate | 0.99% | 0.45% | -0.65% | 1.54% | 1.37% | 6.67% |
| Short | 0.33% | 0.25% | -0.10% | 1.32% | 0.99% | 3.64% |
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing ETF for the week was the Amplify Municipal CEF High Income ETF (YYYM), surging an impressive 2.36%. Conversely, the Goldman Sachs Access Municipal Bond ETF (GMUN) and the Invesco Floating Rate Municipal Income ETF (PVI) lagged the field, returning -0.16% and 0.03%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| YYYM | Amplify Municipal CEF High Income ETF | 2.36% |
| RTAI | Rareview Tax Advantaged Income ETF | 2.20% |
| XMPT | VanEck CEF Muni Income ETF | 2.19% |
| PZT | Invesco New York AMT-Free Municipal Bond ETF | 1.80% |
| PZA | Invesco National AMT-Free Municipal Bond ETF | 1.71% |
| Bottom Performers | ||
| GMUN | Goldman Sachs Access Municipal Bond ETF | -0.16% |
| PVI | Invesco Floating Rate Municipal Income ETF | 0.03% |
| ZMUN | F/m Ultrashort Tax-Free Municipal ETF | 0.08% |
| FUMB | First Trust Ultra Short Duration Municipal ETF | 0.12% |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | 0.12% |
Analyzing the Weekly Flows
The FI: Municipal channel saw robust positive momentum with $1.98 billion in total net inflows this week. The Intermediate duration category captured the lion’s share, pulling in $1,635 million, backed by its massive $169.2 billion in total AUM. Short duration strategies also saw healthy allocations, securing an additional $295 million. Notably, no major duration category recorded net negative flows for the week.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 98 | $169.2B | $1,635M | $6,182M | $11,478M | $17,438M | $40,647M |
| Duration: Short | 27 | $33.3B | $295M | $1,059M | $2,047M | $3,109M | $9,175M |
| Duration: Long | 10 | $8.2B | $49M | $302M | $2,161M | $2,668M | $3,370M |
Top & Bottom 5 ETFs by 5-Day Flow
The Vanguard Tax-Exempt Bond ETF (VTEB) led all funds by a wide margin, commanding $749 million in weekly inflows. On the downside, the NYLI MacKay Muni Intermediate ETF (MMIT) and the Goldman Sachs Ultra Short Municipal Income ETF (GUMI) experienced the heaviest redemptions, seeing outflows of -$146 million and -$3 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $749M |
| MUB | iShares National Muni Bond ETF | $437M |
| SHYM | iShares Short Duration High Yield Muni Active ETF | $166M |
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | $75M |
| VCRM | Vanguard Core Tax-Exempt Bond ETF | $68M |
| Outflows | ||
| MMIT | NYLI MacKay Muni Intermediate ETF | -$146M |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | -$3M |
| BKMI | BNY Mellon Municipal Intermediate ETF | -$2M |
| FTOH | Franklin Ohio Municipal Income ETF | -$1M |
| FTNJ | Franklin New Jersey Municipal Income ETF | -$1M |
Issuer League Table Update
The issuer landscape remains heavily consolidated, with iShares holding the top spot at 32.59% market share, closely trailed by Vanguard at 25.49%. Vanguard dominated the weekly flows race by gathering $994 million in new assets, while New York Life Investments faced the most significant headwinds, recording -$140 million in weekly outflows.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $68.65B | 32.59% |
| Vanguard | 8 | $53.70B | 25.49% |
| JPMorgan | 4 | $14.75B | 7.00% |
| Capital Group | 3 | $10.38B | 4.93% |
| SPDR | 4 | $9.51B | 4.51% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $994M |
| iShares | $765M |
| Capital Group | $51M |
| Outflows | |
| New York Life Investments | -$140M |
| BNY Mellon | -$2M |
| aberdeen | $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.
