Weekly Channel Summary
The Fixed Income: Municipal ETF channel currently holds a total of $167 billion in assets under management across 115 ETFs from 44 different issuers. Over the past week, the channel experienced net inflows of $1.24 billion. Year-to-date, investors have added $25.52 billion, and the total inflows over the past year have reached $31.40 billion, signaling sustained investor confidence in the municipal bond space.
This Week’s Performance Leaders and Laggards
This week, the Long-Term category led the municipal bond space with an average week-to-date return of 0.72%, although it has the lowest year-to-date return at 2.30%. On the other end of the spectrum, the Short-Term category was the laggard, posting a modest weekly gain of just 0.11%, while maintaining a solid YTD return of 3.43%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long | 0.72% | 1.12% | 6.91% | 5.67% | 2.30% | 1.50% |
| Intermediate | 0.51% | 0.60% | 4.50% | 5.57% | 4.10% | 3.32% |
| High Yield | 0.50% | 0.51% | 5.32% | 5.48% | 3.37% | 1.85% |
| Single State | 0.50% | 0.66% | 4.69% | 4.87% | 2.79% | 2.32% |
| Short | 0.11% | -0.09% | 1.29% | 2.97% | 3.43% | 3.48% |
Top & Bottom 5 ETFs by Weekly Performance
The week’s top individual performer was the Simplify National Muni Bond ETF (NMB), which gained an impressive 1.19%. On the flip side, the Rareview Tax Advantaged Income ETF (RTAI) was flat with a 0.00% return, while the Invesco Floating Rate Municipal Income ETF (PVI) returned only 0.04%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| NMB | Simplify National Muni Bond ETF | 1.19% |
| OVM | Overlay Shares Municipal Bond ETF | 1.14% |
| EVYM | Eaton Vance High Income Municipal ETF | 0.89% |
| PZT | Invesco New York AMT-Free Municipal Bond ETF | 0.87% |
| LMUB | iShares Long-Term National Muni Bond ETF | 0.84% |
| Bottom Performers | ||
| RTAI | Rareview Tax Advantaged Income ETF | 0.00% |
| PVI | Invesco Floating Rate Municipal Income ETF | 0.04% |
| FUMB | First Trust Ultra Short Duration Municipal ETF | 0.05% |
| AUSM | Allspring Ultra Short Municipal ETF | 0.06% |
| CALI | iShares Short-Term California Muni Active ETF | 0.06% |
Analyzing the Weekly Flows
The Fixed Income: Municipal channel saw net inflows of $1.24 billion this past week. The Intermediate duration category was the primary beneficiary, attracting $910 million in new assets and bringing its total AUM to $133.0 billion. The Short duration category also saw significant interest, with $310 million in inflows. In contrast, there were no categories with significant outflows, indicating broad positive sentiment across the municipal bond ETF landscape.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Intermediate | 79 | $133.0B | $910M | $2,282M | $9,951M | $18,623M | $23,988M |
| Short | 24 | $27.2B | $310M | $623M | $2,275M | $6,476M | $6,962M |
| High Yield | 18 | $13.4B | $96M | $536M | $2,748M | $3,771M | $3,974M |
| Long | 9 | $5.4B | $21M | $286M | $608M | $402M | $437M |
| Single State | 19 | $8.5B | $20M | $210M | $730M | $1,751M | $2,531M |
Top & Bottom 5 ETFs by 5-Day Flow
The Vanguard Tax-Exempt Bond ETF (VTEB) led all ETFs, pulling in $336 million in new assets. On the other end, the Invesco California AMT-Free Municipal Bond ETF (PWZ) saw the largest outflows at $11 million, followed by the iShares Intermediate Muni Income Active ETF (INMU) with outflows of $7 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $336M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $267M |
| MUB | iShares National Muni Bond ETF | $139M |
| JMUB | JPMorgan Municipal ETF | $96M |
| CGHM | Capital Group Municipal High-Income ETF | $59M |
| Outflows | ||
| PWZ | Invesco California AMT-Free Municipal Bond ETF | ($11M) |
| INMU | iShares Intermediate Muni Income Active ETF | ($7M) |
| SHYM | iShares Short Duration High Yield Muni Active ETF | ($7M) |
| MBND | SPDR Nuveen Municipal Bond ETF | ($1M) |
Issuer League Table Update
The top two issuers, iShares and Vanguard, continue to dominate the municipal bond ETF market, controlling 35.31% and 27.52% of the market share, respectively. This week, Vanguard was the top asset gatherer, bringing in an impressive $386 million. In contrast, among the top issuers, SPDR was the only one to see outflows, though they were minimal.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $58.90B | 35.31% |
| Vanguard | 8 | $45.90B | 27.52% |
| JPMorgan | 4 | $9.69B | 5.81% |
| SPDR | 5 | $9.65B | 5.78% |
| Capital Group | 3 | $7.49B | 4.49% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $386M |
| JPMorgan | $366M |
| iShares | $166M |
| Outflows | |
| Avantis | ($2M) |
| Simplify | ($1M) |
| Hartford | ($26M) |
For a deeper dive into these trends, access our FREE, in-depth Thematic 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.
