Weekly Channel Summary
The Taxable channel closed the week with $2,391.48B in AUM spread across 730 ETFs from 151 issuers. Net inflows totaled $16,174M over the past five trading days, extending a robust $454,898M YTD haul and $555,246M over the trailing year. These figures underscore sustained investor demand for taxable fixed income despite a mixed performance backdrop across categories.
This Week’s Performance Leaders and Laggards
On a WTD basis, Taxable – Emerging USD topped the category rankings with a 1.08% gain, followed closely by Taxable – Emerging at 0.86%, while Taxable – Convertible lagged at -1.33% and Taxable – Bank Loans slipped modestly to -0.05%. Despite the weekly strength in emerging markets debt, the category remains in negative YTD territory at -1.37%, contrasting with Taxable – Convertible’s standout 14.72% YTD return despite its weak week. Taxable – Long-Term and Taxable – Government Long also posted solid weekly gains of 0.67% and 0.55% respectively, though both remain deeply negative YTD at -5.76% and -6.38%. The dispersion highlights a week where credit-sensitive emerging and long-duration segments outperformed, even as broader YTD trends favor shorter-duration and credit strategies.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Taxable – Emerging USD | 1.08% | -2.67% | -3.56% | -1.90% | -1.37% | 1.07% |
| Taxable – Emerging | 0.86% | -2.20% | -0.61% | -0.00% | 0.98% | 4.02% |
| Taxable – Long-Term | 0.67% | -3.50% | -5.55% | -6.28% | -5.76% | -6.15% |
| Taxable – Securitized | 0.58% | -2.20% | -3.07% | -3.25% | -2.37% | -0.99% |
| Taxable – Government Long | 0.55% | -3.65% | -5.58% | -6.74% | -6.38% | -6.75% |
| Taxable – Corporate | 0.53% | -1.94% | -3.03% | -3.17% | -2.80% | -1.90% |
| Taxable – High Yield | 0.44% | -1.69% | -1.53% | -0.46% | 0.51% | 2.25% |
| Taxable – Core Enhanced | 0.41% | -2.02% | -2.78% | -2.88% | -2.32% | -1.39% |
| Taxable – Multisector | 0.39% | -1.44% | -1.61% | -0.69% | -0.13% | 1.35% |
| Taxable – Core | 0.39% | -1.82% | -2.64% | -2.93% | -2.40% | -1.58% |
| Taxable – Government Intermediate | 0.30% | -1.52% | -2.23% | -2.70% | -2.47% | -1.64% |
| Taxable – International USD | 0.29% | -0.29% | -1.31% | -0.81% | -0.44% | -0.19% |
| Taxable – Short-Term | 0.29% | -0.61% | -0.55% | -0.20% | 0.30% | 1.44% |
| Taxable – Inflation Protected | 0.26% | -1.46% | -1.62% | -1.29% | -0.24% | -0.18% |
| Taxable – Government Short | 0.18% | -0.23% | 0.03% | 0.30% | 0.71% | 1.70% |
| Taxable – Ultrashort | 0.12% | 0.22% | 0.89% | 1.98% | 2.94% | 4.05% |
| Taxable – Government Ultrashort | 0.08% | 0.33% | 0.95% | 1.86% | 2.84% | 3.77% |
| Municipal – Single State | 0.04% | -0.19% | 0.41% | — | — | — |
| Taxable – International | 0.02% | -3.27% | -1.64% | -3.33% | -3.26% | -2.16% |
| Taxable – Bank Loans | -0.05% | -0.10% | 1.41% | 3.10% | 2.66% | 4.53% |
| Taxable – Preferred Stock | -0.46% | -2.33% | -3.02% | -2.31% | -1.52% | -1.23% |
| Taxable – Convertible | -1.33% | -2.67% | -4.70% | 5.08% | 14.72% | 11.06% |
Top & Bottom 5 ETFs by Weekly Performance
TEMD led all funds with a 2.15% weekly gain, followed by FEMB at 1.84%, both reflecting the broader strength in emerging markets debt this week. On the downside, CRDT fell 2.22% and DADS declined 2.05%, marking the week’s weakest performers. The spread between top and bottom funds of roughly 4.4 percentage points illustrates the volatility within niche credit and emerging market strategies even as the broader Taxable universe posted more modest moves.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| TEMD | Templeton Emerging Markets Debt ETF | 2.15% |
| FEMB | First Trust Emerging Markets Local Currency Bond ETF | 1.84% |
| VEMY | Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 1.69% |
| EMFI | Pictet Emerging Markets Debt ETF | 1.44% |
| NEMD | Neuberger Emerging Markets Debt Hard Currency ETF | 1.25% |
| Bottom Performers | ||
| CRDT | Simplify Opportunistic Income ETF | -2.22% |
| DADS | Digital Asset Debt Strategy ETF | -2.05% |
| VPC | Virtus Private Credit Strategy ETF | -1.95% |
| PFFR | InfraCap REIT Preferred ETF | -1.89% |
| FCVT | First Trust SSI Strategic Convertible Securities ETF | -1.70% |
Analyzing the Weekly Flows
Weekly net flows of $16,174M were led by the Multi-Sector segment at $6,404M and Government at $6,070M, reflecting continued demand for diversified and sovereign fixed-income exposure. Corporate and Bank Loans segments also attracted meaningful inflows of $1,904M and $1,579M respectively, while Preferred Stock was the lone segment to see outflows, shedding $58M for the week. By duration, Intermediate and Ultrashort categories led with $6,454M and $5,590M in inflows, while Investment Grade credit dominated credit-type flows at $15,388M, consistent with the broader risk-off tilt toward higher-quality paper amid High Yield credit outflows of $1,227M.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Multi-Sector | 307 | $1,004.59B | $6,404M | $25,516M | $69,531M | $204,443M | $259,995M |
| Government | 133 | $762.89B | $6,070M | $29,248M | $62,792M | $171,778M | $206,418M |
| Corporate | 159 | $400.20B | $1,904M | -$715M | $3,332M | $47,395M | $58,988M |
| Bank Loans | 50 | $77.91B | $1,579M | $4,291M | $9,751M | $20,578M | $19,639M |
| Securitized | 48 | $104.48B | $270M | -$2,037M | $652M | $8,017M | $6,974M |
| Cat Bonds | 1 | $120M | $5M | $19M | $40M | $84M | $106M |
| Preferred Stock | 31 | $41.14B | -$58M | -$314M | $704M | $2,603M | $3,126M |
Flows by Credit Type
| Credit Type | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Credit: Investment Grade | 372 | $1,913.61B | $15,388M | $44,179M | $116,440M | $362,968M | $435,421M |
| Credit: Blend | 198 | $286.04B | $2,001M | $12,574M | $27,875M | $78,620M | $100,877M |
| Specialty: Interest Rate Volatility | 1 | $127M | $2M | $13M | $55M | $106M | $106M |
| Credit: High Yield | 155 | $191.21B | -$1,227M | -$803M | $2,310M | $12,984M | $18,557M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 422 | $1,330.16B | $6,454M | $19,514M | $50,827M | $215,827M | $278,619M |
| Duration: Ultrashort | 149 | $544.72B | $5,590M | $24,932M | $58,203M | $162,931M | $180,062M |
| Duration: Long | 62 | $194.79B | $2,290M | $7,394M | $13,461M | $15,717M | $23,349M |
| Duration: Short | 92 | $321.33B | $1,829M | $4,121M | $24,187M | $60,202M | $72,931M |
| Physically Held | 1 | $1M | $0M | $1M | $1M | $1M | $1M |
Top & Bottom 5 ETFs by 5-Day Flow
SGOV led all funds with $1,843M in weekly inflows, followed by LQD at $1,516M, both reinforcing the channel’s tilt toward short-duration Treasury and investment-grade corporate exposure. On the outflow side, IQMM saw the largest redemption at $1,143M, followed by JNK at $518M, pointing to selective pressure on money-market-adjacent and high-yield products even as broader Taxable flows remained strongly positive.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SGOV | iShares 0-3 Month Treasury Bond ETF | $1,843M |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | $1,516M |
| TLT | iShares 20+ Year Treasury Bond ETF | $1,207M |
| USFR | WisdomTree Floating Rate Treasury Fund | $888M |
| AGG | iShares Core U.S. Aggregate Bond ETF | $801M |
| Outflows | ||
| IQMM | ProShares GENIUS Money Market ETF | -$1,143M |
| JNK | State Street SPDR Bloomberg High Yield Bond ETF | -$518M |
| USHY | iShares Broad USD High Yield Corporate Bond ETF | -$407M |
| IEF | iShares 7-10 Year Treasury Bond ETF | -$356M |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | -$309M |
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: CPAG (-$146M).
Issuer League Table Update
iShares and Vanguard remain the dominant forces in the Taxable channel, commanding 36.03% and 25.86% of AUM share respectively, with SPDR a distant third at 7.43%. iShares also led weekly inflows with $7,251M, followed by Vanguard at $4,160M, reaffirming their scale advantage in capturing new assets. On the outflow side, ProShares recorded the largest weekly redemption among issuers at $1,137M, consistent with the fund-level pressure seen in IQMM, while Alpha Architect and Invesco saw more modest outflows of $166M and $155M respectively.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 87 | $861.64B | 36.03% |
| Vanguard | 31 | $618.33B | 25.86% |
| SPDR | 36 | $177.74B | 7.43% |
| JPMorgan | 20 | $101.78B | 4.26% |
| Schwab | 12 | $80.17B | 3.35% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $7,251M |
| Vanguard | $4,160M |
| WisdomTree | $900M |
| Outflows | |
| ProShares | -$1,137M |
| Alpha Architect | -$166M |
| Invesco | -$155M |
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.
