Weekly Channel Summary
The Municipal Fixed Income ETF channel stands at a robust $212.4 billion in total Assets Under Management (AUM) across 134 ETFs managed by 47 unique issuers. Over the past week, the space saw a solid $1.13 billion in net new money (5 Day). This builds upon a strong long-term trend, with Year-to-Date (YTD) flows reaching $25.71 billion and 1-year flows totaling $53.81 billion.
This Week’s Performance Leaders and Laggards
This week, the High Yield category led the pack, returning a positive 0.20% Week-to-Date (WTD) and elevating its strong Year-to-Date (YTD) performance to 2.67%. On the other end of the spectrum, the Long category was the worst-performing segment, slipping 0.04% WTD, although it remains in positive territory YTD at 2.08%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| High Yield | 0.20% | 0.86% | 1.81% | 3.03% | 2.67% | 7.67% |
| Short | 0.04% | 0.36% | 0.39% | 1.35% | 1.12% | 3.52% |
| Intermediate | -0.01% | 0.61% | 0.93% | 1.88% | 1.54% | 6.46% |
| Single State | -0.03% | 0.59% | 1.13% | 2.04% | 1.66% | 6.37% |
| Long | -0.04% | 0.73% | 1.62% | 2.47% | 2.08% | 8.09% |
Top & Bottom 5 ETFs by Weekly Performance
Looking at individual funds, the Rareview Tax Advantaged Income ETF (RTAI) was the single best-performing ETF for the week, surging 1.14%. Conversely, the Invesco New York AMT-Free Municipal Bond ETF (PZT) and the Columbia Multi-Sector Municipal Income ETF (MUST) were the two worst-performing ETFs, dropping 0.21% and 0.16% respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| RTAI | Rareview Tax Advantaged Income ETF | 1.14% |
| YYYM | Amplify Municipal CEF High Income ETF | 1.13% |
| XMPT | VanEck CEF Muni Income ETF | 1.03% |
| BAB | Invesco Taxable Municipal Bond ETF | 0.38% |
| ZTAX | X-Square Municipal Income ETF | 0.20% |
| Bottom Performers | ||
| PZT | Invesco New York AMT-Free Municipal Bond ETF | -0.21% |
| MUST | Columbia Multi-Sector Municipal Income ETF | -0.16% |
| PZA | Invesco National AMT-Free Municipal Bond ETF | -0.15% |
| GENM | Genter Capital Municipal Quality Intermediate ETF | -0.13% |
| PWZ | Invesco California AMT-Free Municipal Bond ETF | -0.13% |
Analyzing the Weekly Flows
The Municipal ETF channel attracted a total net flow of $1.13 billion this week. The Intermediate duration category received the most inflows, gathering $818 million to bring its AUM to $170.5 billion. The Short duration category also saw significant inflows of $280 million. There were no net outflows among the duration categories this week, with the Long category taking in a more modest $36 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 97 | $170.5B | $818M | $5,917M | $12,980M | $19,323M | $41,235M |
| Duration: Short | 27 | $33.7B | $280M | $1,236M | $2,375M | $3,669M | $9,157M |
| Duration: Long | 10 | $8.2B | $36M | $237M | $2,227M | $2,716M | $3,419M |
Top & Bottom 5 ETFs by 5-Day Flow
Identifying the top ETF for inflows, the JPMorgan Municipal ETF (JMUB) was the largest asset gatherer, reeling in $143 million. On the outflow side, the VanEck Long Muni ETF (MLN) and the Invesco Taxable Municipal Bond ETF (BAB) experienced the heaviest redemptions, losing $9 million and $8 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| JMUB | JPMorgan Municipal ETF | $143M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $84M |
| FLMI | Franklin Dynamic Municipal Bond ETF | $70M |
| HYD | VanEck High Yield Muni ETF | $61M |
| CGMU | Capital Group Municipal Income ETF | $59M |
| Outflows | ||
| MLN | VanEck Long Muni ETF | -$9M |
| BAB | Invesco Taxable Municipal Bond ETF | -$8M |
| EVYM | Eaton Vance High Income Municipal ETF | -$3M |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | -$3M |
| FMHI | First Trust Municipal High Income ETF | -$2M |
Issuer League Table Update
In the issuer standings, iShares and Vanguard maintain their dominance, holding the top two spots with 32.53% and 25.42% market share, respectively. However, JPMorgan captured the highest weekly flows of any brand, bringing in $232 million. On the other end, Goldman Sachs experienced the largest outflows among issuers, shedding $3 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $69.08B | 32.53% |
| Vanguard | 8 | $54.00B | 25.42% |
| JPMorgan | 4 | $15.05B | 7.09% |
| Capital Group | 3 | $10.48B | 4.93% |
| SPDR | 4 | $9.55B | 4.50% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| JPMorgan | $232M |
| iShares | $180M |
| Vanguard | $173M |
| Outflows | |
| Goldman Sachs | -$3M |
| BNY Mellon | -$1M |
| 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.
