Weekly Channel Summary
The Specialty Fixed Income channel, comprising 157 ETFs from 13 issuers, holds a total of $73.30 billion in assets under management. This week, the channel attracted $298 million in net new assets. Year-to-date inflows now stand at a robust $9.74 billion, with the one-year total reaching an impressive $21.31 billion.
This Week’s Performance Leaders and Laggards
Interest Rate Volatility funds were the standout performers this week, posting a collective gain of 1.85%. This weekly jump brings the category’s year-to-date return to 2.06%. In contrast, Maturing Ladder funds were the weakest group, declining by 0.13%, while the dominant Defined Maturity category edged up by 0.13%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Specialty – Interest Rate Volatility | 1.85% | 4.81% | 1.44% | 2.61% | 2.06% | 0.09% |
| Specialty – Defined Maturity | 0.13% | -0.17% | 0.25% | 0.53% | 0.85% | 3.66% |
| Specialty – Maturing Ladder | -0.13% | -1.29% | -0.91% | -0.75% | -0.42% | 1.06% |
Top & Bottom 5 ETFs by Weekly Performance
The Simplify Interest Rate Hedge ETF (PFIX) delivered a powerful 6.82% return, leading all funds in the channel by a wide margin. This performance was a key driver for the top-performing Interest Rate Volatility category. At the bottom of the list were long-duration defined maturity Treasury funds, with iShares iBonds Dec 2054 Term Treasury ETF (IBGK) falling 1.38%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| PFIX | Simplify Interest Rate Hedge ETF | 6.82% |
| IVOL | KraneShares Quadratic Interest Rate Volatility and Inflation Hedge ETF | 1.17% |
| RINF | ProShares Inflation Expectations ETF | 0.87% |
| IBHJ | iShares iBonds 2030 Term High Yield and Income ETF | 0.57% |
| IBMV | iShares iBonds Dec 2033 Term Muni Bond ETF | 0.55% |
| Bottom Performers | ||
| IBGK | iShares iBonds Dec 2054 Term Treasury ETF | -1.38% |
| IBGL | iShares iBonds Dec 2055 Term Treasury ETF | -1.35% |
| IBGM | iShares iBonds Dec 2056 Term Treasury ETF | -1.34% |
| LFBE | LifeX 2065 Longevity Income ETF | -1.21% |
| LFDR | LifeX Durable Income ETF | -1.19% |
Analyzing the Weekly Flows
The Specialty Fixed Income channel recorded net inflows of $298 million for the week. This activity was concentrated entirely within the Defined Maturity category, which attracted $302 million. Looking at underlying exposure, Corporate bond ETFs led with $161 million in new assets, while funds with a 2026 maturity date saw the largest redemptions of $132 million as they approach their termination.
Flows by Category
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Specialty – Defined Maturity | 129 | $72.30B | $302M | $1,353M | $3,766M | $9,795M | $21,355M |
| Specialty – Maturing Ladder | 20 | $147M | -$1M | $0M | $12M | $26M | -$114M |
| Specialty – Interest Rate Volatility | 8 | $857M | -$3M | -$26M | -$1M | -$86M | $70M |
Flows by Segment
| Segment | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Corporate | 64 | $55.17B | $161M | $788M | $2,527M | $6,725M | $15,237M |
| Government | 63 | $13.00B | $115M | $445M | $984M | $2,181M | $4,390M |
| Municipal | 30 | $5.14B | $22M | $94M | $266M | $829M | $1,683M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: 2026 | 10 | $11.87B | -$132M | -$446M | -$1,027M | -$1,746M | -$479M |
| Duration: 2027 | 13 | $13.31B | $60M | $194M | $431M | $1,291M | $2,876M |
| Duration: 2028 | 14 | $12.66B | $102M | $434M | $1,139M | $2,659M | $4,579M |
| Duration: 2029 | 13 | $10.35B | $90M | $339M | $920M | $1,965M | $3,790M |
| Duration: 2030 | 17 | $8.26B | $69M | $321M | $810M | $1,813M | $3,640M |
| Duration: 2031 | 13 | $5.59B | $69M | $263M | $602M | $1,263M | $2,258M |
| Duration: 2032 | 11 | $4.18B | $24M | $120M | $324M | $776M | $1,600M |
| Duration: 2033 | 11 | $2.84B | $8M | $31M | $200M | $495M | $963M |
| Duration: 2034 | 10 | $1.96B | $3M | $22M | $121M | $580M | $1,076M |
| Duration: 2035 | 13 | $1.08B | $1M | $42M | $144M | $565M | $731M |
| Duration: 2036 | 5 | $144M | $9M | $26M | $92M | $125M | $125M |
| Duration: 2044 | 1 | $103M | $0M | $5M | $13M | $21M | $39M |
| Duration: 2045 | 3 | $20M | $0M | $0M | $0M | $0M | $5M |
| Duration: 2046 | 1 | $10M | $0M | $1M | $6M | $9M | $9M |
| Duration: 2050 | 2 | $8M | $0M | $0M | $0M | $0M | $4M |
| Duration: 2054 | 1 | $6M | $0M | $0M | $2M | $2M | $4M |
| Duration: 2055 | 5 | $24M | $0M | $1M | -$2M | -$0M | $5M |
| Duration: 2056 | 1 | $4M | $0M | $0M | $0M | $2M | $2M |
| Duration: 2060 | 2 | $8M | $0M | $0M | $2M | $2M | $5M |
| Duration: 2065 | 2 | $7M | $0M | $0M | $0M | $0M | $7M |
| Duration: Long | 1 | $1M | $0M | $0M | -$0M | $0M | $0M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares iBonds Dec 2029 Term Treasury ETF (IBTJ) was the most popular fund, gathering $39 million in new capital. Conversely, funds nearing their maturity date saw the largest redemptions. The Invesco BulletShares 2026 Corporate Bond ETF (BSCQ) led outflows at $44 million, followed closely by the iShares iBonds Dec 2026 Term Corporate ETF (IBDR), which shed $38 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| IBTJ | iShares iBonds Dec 2029 Term Treasury ETF | $39M |
| MYCH | State Street My2028 Corporate Bond ETF | $37M |
| IBDW | iShares iBonds Dec 2031 Term Corporate ETF | $35M |
| IBDU | iShares iBonds Dec 2029 Term Corporate ETF | $30M |
| IBTH | iShares iBonds Dec 2027 Term Treasury ETF | $29M |
| Outflows | ||
| BSCQ | Invesco BulletShares 2026 Corporate Bond ETF | -$44M |
| IBDR | iShares iBonds Dec 2026 Term Corporate ETF | -$38M |
| BSJQ | Invesco BulletShares 2026 High Yield Corp Bond ETF | -$27M |
| IBHF | iShares iBonds 2026 Term High Yield and Income ETF | -$11M |
| IBTO | iShares iBonds Dec 2033 Term Treasury ETF | -$11M |
Issuer League Table Update
The issuer landscape remains highly concentrated, with iShares ($42.76B) and Invesco ($28.17B) collectively controlling over 96% of the channel’s assets. iShares was the leading asset gatherer this week, bringing in $224 million in net new flows. State Street also saw positive interest with $52 million in inflows, while Simplify recorded the largest net outflow among issuers at $6 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 57 | $42.76B | 58.33% |
| Invesco | 35 | $28.17B | 38.43% |
| State Street | 21 | $1.02B | 1.40% |
| Vanguard | 10 | $339M | 0.46% |
| FolioBeyond | 1 | $310M | 0.42% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $224M |
| State Street | $52M |
| Invesco | $14M |
| Outflows | |
| Simplify | -$6M |
| Quadratic | -$3M |
| Stone Ridge | -$1M |
For a deeper dive into these trends, access our FREE, in-depth FI: Specialty 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.
