Weekly Channel Summary
The Municipal ETF channel now holds $217.0 billion in assets under management across 137 funds from 47 different issuers. Investor demand remained robust, with the channel attracting $1,389 million in net inflows over the past week. This brings year-to-date net flows to an impressive $28.34 billion and the one-year total to $55.06 billion.
This Week’s Performance Leaders and Laggards
Long-duration municipal bond ETFs led performance this week, posting an average gain of 0.27% as interest rates ticked lower. Conversely, short-duration funds were the only category to finish in the red, declining by a marginal 0.01%. On a year-to-date basis, High Yield municipal ETFs remain the top-performing category with a return of 3.22%, followed closely by Long-duration funds at 3.04%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Municipal – Long | 0.27% | 2.56% | 3.58% | 3.01% | 3.04% | 9.21% |
| Municipal – High Yield | 0.24% | 2.08% | 3.78% | 3.29% | 3.22% | 7.91% |
| Municipal – Intermediate | 0.19% | 1.55% | 2.32% | 1.94% | 1.83% | 6.67% |
| Municipal – Single State | 0.17% | 1.58% | 2.37% | 1.87% | 1.83% | 6.60% |
| Municipal – Short | -0.01% | 0.50% | 0.76% | 1.11% | 1.03% | 3.10% |
Top & Bottom 5 ETFs by Weekly Performance
Two active funds, the iShares High Yield Muni Active ETF (HIMU) and the Columbia Multi-Sector Municipal Income ETF (MUST), tied for the top performance spot with a weekly gain of 0.63%. At the other end of the spectrum, the iShares Short-Term National Muni Bond ETF (SUB) was the weakest performer, declining by 0.16%. The Franklin Municipal Income ETF (FTMU) also had a strong week, rising 0.51%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| HIMU | iShares High Yield Muni Active ETF | 0.63% |
| MUST | Columbia Multi-Sector Municipal Income ETF | 0.63% |
| FTMU | Franklin Municipal Income ETF | 0.51% |
| FTNY | Franklin New York Municipal Income ETF | 0.50% |
| PWZ | Invesco California AMT-Free Municipal Bond ETF | 0.47% |
| Bottom Performers | ||
| SUB | iShares Short-Term National Muni Bond ETF | -0.16% |
| APMU | ActivePassive Intermediate Municipal Bond ETF | -0.11% |
| GENM | Genter Capital Municipal Quality Intermediate ETF | -0.10% |
| NMB | Simplify National Muni Bond ETF | -0.04% |
| HYD | VanEck High Yield Muni ETF | -0.04% |
Analyzing the Weekly Flows
Municipal ETFs saw continued positive momentum with nearly $1.39 billion in net inflows for the week. All five categories gathered new assets, led by Intermediate-term funds which brought in $585 million. Short-term municipal ETFs were also popular, attracting $466 million in new capital, while High Yield funds added $152 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Municipal – Intermediate | 55 | $142.02B | $585M | $3,762M | $10,858M | $16,310M | $31,643M |
| Municipal – Short | 25 | $33.07B | $466M | $1,244M | $2,288M | $3,766M | $8,669M |
| Municipal – High Yield | 19 | $16.75B | $152M | $767M | $1,365M | $1,865M | $5,911M |
| Municipal – Single State | 29 | $17.88B | $141M | $1,155M | $2,246M | $3,656M | $5,500M |
| Municipal – Long | 9 | $7.27B | $47M | $175M | $672M | $2,740M | $3,341M |
Top & Bottom 5 ETFs by 5-Day Flow
The Capital Group Short Duration Municipal Income ETF (CGSM) led all funds, pulling in $296 million in net new assets. Following closely was the Vanguard Tax-Exempt Bond ETF (VTEB), which gathered $283 million. Outflows were very modest across the channel, with the State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) and the BNY Mellon Municipal Opportunities ETF (BMOP) seeing the largest redemptions of just $14 million and $13 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| CGSM | Capital Group Short Duration Municipal Income ETF | $296M |
| VTEB | Vanguard Tax-Exempt Bond ETF | $283M |
| MUB | iShares National Muni Bond ETF | $86M |
| HYMB | State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | $81M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $66M |
| Outflows | ||
| TFI | State Street SPDR Nuveen ICE Municipal Bond ETF | -$14M |
| BMOP | BNY Mellon Municipal Opportunities ETF | -$13M |
| VCRM | Vanguard Core Tax-Exempt Bond ETF | -$9M |
| BKMI | BNY Mellon Municipal Intermediate ETF | -$6M |
| TAFI | AB Tax-Aware Short Duration Municipal ETF | -$5M |
Issuer League Table Update
iShares and Vanguard continue to dominate the municipal ETF landscape, commanding 32.19% and 25.41% of the market share, respectively. This week, Vanguard was the top asset gatherer, attracting $382 million in net inflows across its suite of funds. Capital Group also had a strong week with $376 million in new assets, while BNY Mellon experienced the largest net outflows at $19 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $69.86B | 32.19% |
| Vanguard | 8 | $55.15B | 25.41% |
| JPMorgan | 6 | $16.30B | 7.51% |
| Capital Group | 3 | $10.98B | 5.06% |
| SPDR | 4 | $9.59B | 4.42% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $382M |
| Capital Group | $376M |
| iShares | $248M |
| Outflows | |
| BNY Mellon | -$19M |
| WisdomTree | -$3M |
| Raymond James | $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.
