Weekly Channel Summary
The Taxable Bond ETF channel, comprising 705 funds from 146 issuers, holds approximately $2.29 trillion in assets under management. This week, the channel attracted net inflows of $6.6 billion. Year-to-date inflows now stand at a robust $276.9 billion, contributing to a total of $500.7 billion over the past year.
This Week’s Performance Leaders and Laggards
Taxable bond categories saw divergent performance this week, with Government Long funds leading the way with a 0.60% gain. On the other end of the spectrum, Convertible funds experienced a significant decline, falling 2.66% for the week. This drop contrasts sharply with the category’s year-to-date performance, where it remains the top gainer with an impressive 22.54% return. Preferred Stock funds also struggled, posting a weekly loss of 1.46%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Taxable – Government Long | 0.60% | 2.70% | 1.26% | 0.67% | 1.28% | 4.05% |
| Taxable – Long-Term | 0.55% | 2.43% | 2.81% | 1.39% | 2.08% | 6.34% |
| Taxable – Securitized | 0.45% | 1.20% | 1.22% | 1.25% | 1.41% | 5.95% |
| Taxable – Corporate | 0.37% | 1.16% | 1.62% | 0.79% | 1.01% | 5.28% |
| Taxable – Core | 0.36% | 1.16% | 1.11% | 0.84% | 0.97% | 4.46% |
| Taxable – Government Intermediate | 0.36% | 0.92% | 0.43% | 0.21% | 0.24% | 2.97% |
| Taxable – Core Enhanced | 0.33% | 1.19% | 1.30% | 1.00% | 1.14% | 4.96% |
| Taxable – International USD | 0.26% | 1.13% | 1.60% | 1.37% | 1.58% | 2.58% |
| Taxable – Short-Term | 0.20% | 0.51% | 0.92% | 0.98% | 0.90% | 3.95% |
| Taxable – Multisector | 0.20% | 0.91% | 2.08% | 1.61% | 1.62% | 5.74% |
| Taxable – Government Short | 0.13% | 0.29% | 0.55% | 0.73% | 0.61% | 3.00% |
| Taxable – Ultrashort | 0.07% | 0.35% | 1.15% | 1.97% | 1.86% | 4.59% |
| Taxable – Inflation Protected | 0.05% | 0.13% | 0.98% | 1.39% | 1.41% | 3.75% |
| Taxable – Government Ultrashort | 0.04% | 0.30% | 0.91% | 1.79% | 1.72% | 3.90% |
| Taxable – High Yield | -0.08% | 0.57% | 2.34% | 1.77% | 1.78% | 6.07% |
| Taxable – Bank Loans | -0.21% | -0.02% | 1.51% | 0.68% | 0.58% | 4.25% |
| Taxable – Emerging USD | -0.23% | 1.87% | 3.56% | 2.25% | 2.53% | 10.50% |
| Taxable – International | -0.48% | -1.00% | -0.14% | -1.69% | -1.42% | -1.29% |
| Taxable – Emerging | -0.48% | 1.06% | 2.89% | 1.00% | 1.10% | 7.43% |
| Taxable – Preferred Stock | -1.46% | -0.95% | 1.33% | 0.59% | 0.87% | 6.33% |
| Taxable – Convertible | -2.66% | 2.15% | 15.97% | 20.67% | 22.54% | 36.23% |
Top & Bottom 5 ETFs by Weekly Performance
Among individual funds, the Regan Fixed Rate MBS ETF (MBSX) was the week’s top performer, posting a strong 3.76% return. Conversely, funds in the struggling Convertible and Preferred Stock categories populated the bottom of the performance list. Notably, the State Street SPDR Bloomberg Convertible Securities ETF (CWB) fell by 2.77%, reflecting the broader weakness in its category.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| MBSX | Regan Fixed Rate MBS ETF | 3.76% |
| TYA | Simplify Intermediate Term Treasury Futures Strategy ETF | 1.45% |
| GOVZ | iShares 25+ Year Treasury STRIPS Bond ETF | 1.19% |
| NCLO | Nuveen AA-BBB CLO ETF | 1.07% |
| ZROZ | PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund | 0.96% |
| Bottom Performers | ||
| DADS | Digital Asset Debt Strategy ETF | -3.72% |
| PFXF | VanEck Preferred Securities ex Financials ETF | -3.57% |
| CVRT | Calamos Convertible Equity Alternative ETF | -3.15% |
| PFFA | Virtus InfraCap U.S. Preferred Stock ETF | -3.05% |
| CWB | State Street SPDR Bloomberg Convertible Securities ETF | -2.77% |
Analyzing the Weekly Flows
Investors allocated a net $6.6 billion to Taxable Bond ETFs over the week, with a clear preference for the middle of the curve. Intermediate duration funds were the primary beneficiaries, attracting over $6.2 billion in new assets. From a segment perspective, Multi-Sector funds led with $4.8 billion in inflows, followed by Corporate bond funds which gathered $1.7 billion. In contrast, Long duration funds experienced significant redemptions, shedding more than $1.3 billion.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Multi-Sector | 294 | $957.36B | $4,803M | $24,938M | $56,141M | $122,883M | $233,319M |
| Corporate | 157 | $405.90B | $1,673M | $12,594M | $24,885M | $36,808M | $69,323M |
| Government | 129 | $712.71B | $497M | $9,874M | $29,220M | $99,432M | $162,068M |
| Securitized | 46 | $108.37B | $76M | $1,964M | $4,268M | $6,848M | $16,752M |
| Preferred Stock | 28 | $40.76B | $44M | $466M | $1,253M | $1,466M | $3,320M |
| Cat Bonds | 1 | $77M | $0M | -$4M | $21M | $42M | $68M |
| Bank Loans | 48 | $66.82B | -$519M | $1,915M | $6,654M | $9,399M | $15,896M |
Flows by Credit Type
| Credit Type | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Credit: Investment Grade | 368 | $1,834.39B | $3,082M | $34,571M | $86,837M | $221,862M | $386,054M |
| Credit: Blend | 182 | $265.48B | $2,467M | $12,321M | $22,922M | $46,792M | $88,446M |
| Credit: High Yield | 149 | $191.85B | $1,013M | $4,806M | $12,562M | $8,088M | $26,003M |
| Specialty: Interest Rate Volatility | 1 | $65M | $9M | $10M | $45M | $45M | $45M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 407 | $1,319.15B | $6,241M | $36,529M | $73,667M | $148,081M | $287,641M |
| Duration: Short | 90 | $300.58B | $1,021M | $5,364M | $16,209M | $32,990M | $58,905M |
| Duration: Ultrashort | 143 | $479.85B | $624M | $13,808M | $32,657M | $97,314M | $144,388M |
| Duration: Long | 60 | $192.21B | -$1,317M | -$3,993M | -$167M | -$1,598M | $9,616M |
Top & Bottom 5 ETFs by 5-Day Flow
At the fund level, the iShares 0-3 Month Treasury Bond ETF (SGOV) led all taxable bond products, pulling in $639 million. Other notable asset gatherers included the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and the iShares iBoxx $ High Yield Corporate Bond ETF (HYG). On the other side of the ledger, the iShares 20+ Year Treasury Bond ETF (TLT) saw the largest outflows at $869 million. The ProShares GENIUS Money Market ETF (IQMM) also experienced significant redemptions of $747 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SGOV | iShares 0-3 Month Treasury Bond ETF | $639M |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | $481M |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | $439M |
| SCHP | Schwab US TIPS ETF | $392M |
| BND | Vanguard Total Bond Market ETF | $366M |
| Outflows | ||
| TLT | iShares 20+ Year Treasury Bond ETF | -$869M |
| IQMM | ProShares GENIUS Money Market ETF | -$747M |
| PAAA | PGIM AAA CLO ETF | -$518M |
| IEF | iShares 7-10 Year Treasury Bond ETF | -$480M |
| JMTG | JPMorgan Mortgage-Backed Securities ETF | -$198M |
Note: the following fund(s) were excluded from the flow totals above because the weekly flow exceeds 75% of the fund’s AUM and may be the result of a custom rebalance: BD ($56M), XBOX ($258M).
Issuer League Table Update
iShares and Vanguard continue to dominate the taxable bond landscape, commanding 36.43% and 26.40% of the market share, respectively. This week, iShares also led in asset gathering, attracting nearly $2.1 billion in net new money across its product suite. Vanguard followed with a respectable $1.4 billion in weekly inflows. ProShares recorded the largest net outflows among issuers, driven by redemptions from a single fund.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 88 | $835.09B | 36.43% |
| Vanguard | 31 | $605.12B | 26.40% |
| SPDR | 37 | $172.21B | 7.51% |
| JPMorgan | 19 | $91.09B | 3.97% |
| Schwab | 12 | $77.73B | 3.39% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $2,076M |
| Vanguard | $1,426M |
| SPDR | $553M |
| Outflows | |
| ProShares | -$747M |
| PGIM | -$462M |
| Janus Henderson | -$49M |
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.
