Weekly Channel Summary
The FI: Municipal ETF channel encompasses a robust landscape of 137 ETFs managed by 48 distinct issuers, representing approximately $201B in total Assets Under Management. The channel experienced strong positive momentum over the past week, bringing in $1.19B in net new assets. This solid weekly activity contributes to an impressive $13.62B in Year-to-Date inflows and highlights continued, heavy investor demand with $48.46B in net inflows over the trailing 1-year period.
This Week’s Performance Leaders and Laggards
The High Yield category led the FI: Municipal channel this week, posting a strong Week-to-Date (WTD) return of 0.96%, bolstering its Year-to-Date (YTD) performance to 1.39%. Conversely, the Short duration category lagged its peers, registering a modest 0.25% gain for the week, which brings its YTD return to 0.75%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| High Yield | 0.96% | -0.04% | 0.76% | 2.51% | 1.39% | 7.72% |
| Long | 0.80% | 0.19% | 0.72% | 2.24% | 1.25% | 7.44% |
| Single State | 0.66% | -0.10% | 0.44% | 1.92% | 0.95% | 6.44% |
| Intermediate | 0.63% | -0.28% | 0.32% | 1.95% | 0.87% | 6.91% |
| Short | 0.25% | -0.10% | 0.45% | 1.38% | 0.75% | 4.22% |
Top & Bottom 5 ETFs by Weekly Performance
Among individual funds, the Rareview Tax Advantaged Income ETF (RTAI) was the standout performer, soaring 2.85% for the week. On the other end of the spectrum, the Invesco Floating Rate Municipal Income ETF (PVI) and the Goldman Sachs Ultra Short Municipal Income ETF (GUMI) trailed the pack, returning just 0.05% and 0.08%, respectively.
| Top Performers | ||
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| RTAI | Rareview Tax Advantaged Income ETF | 2.85% |
| XMPT | VanEck CEF Muni Income ETF | 2.28% |
| YYYM | Amplify Municipal CEF High Income ETF | 2.27% |
| NMB | Simplify National Muni Bond ETF | 1.03% |
| PWZ | Invesco California AMT-Free Municipal Bond ETF | 0.94% |
| Bottom Performers | ||
| PVI | Invesco Floating Rate Municipal Income ETF | 0.05% |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | 0.08% |
| ZMUN | F/m Ultrashort Tax-Free Municipal ETF | 0.08% |
| FUMB | First Trust Ultra Short Duration Municipal ETF | 0.10% |
| AMUN | Abrdn Ultra Short Muncipal Income Active ETF | 0.12% |
Analyzing the Weekly Flows
The channel gathered a robust $1.19B in net flows this week. The Intermediate category attracted the vast majority of these inflows, bringing in $873M across its massive $132.4B asset base. The Single State category also saw significant interest, gathering $137M. While all broad categories posted positive weekly flows, High Yield took the bottom spot with a modest $51M in new assets.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Intermediate | 56 | $132.4B | $873M | $3,412M | $6,396M | $7,709M | $27,851M |
| Single State | 28 | $15.4B | $137M | $364M | $1,461M | $1,621M | $3,848M |
| Long | 9 | $6.7B | $70M | $1,722M | $2,174M | $2,196M | $2,826M |
| Short | 25 | $31.1B | $60M | $661M | $1,637M | $1,782M | $9,319M |
| High Yield | 19 | $15.1B | $51M | -$694M | $244M | $315M | $4,618M |
Top & Bottom 5 ETFs by 5-Day Flow
At the fund level, the iShares National Muni Bond ETF (MUB) commanded the lion’s share of new assets, absorbing an impressive $298M over the last five days. Conversely, the JPMorgan Ultra-Short Municipal Income ETF (JMST) and the State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) saw the most significant redemptions, experiencing outflows of -$43M and -$19M, respectively.
| Inflows | ||
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| MUB | iShares National Muni Bond ETF | $298M |
| VTEB | Vanguard Tax-Exempt Bond ETF | $253M |
| JMUB | JPMorgan Municipal ETF | $85M |
| CMF | iShares California Muni Bond ETF | $71M |
| MMIT | NYLI MacKay Muni Intermediate ETF | $54M |
| Outflows | ||
| JMST | JPMorgan Ultra-Short Municipal Income ETF | -$43M |
| SHM | State Street SPDR Nuveen ICE Short Term Municipal Bond ETF | -$19M |
| MEAR | iShares Short Maturity Municipal Bond Active ETF | -$8M |
| BMOP | BNY Mellon Municipal Opportunities ETF | -$6M |
| SCMB | Schwab Municipal Bond ETF | -$5M |
Issuer League Table Update
iShares and Vanguard continue to dominate the FI: Municipal landscape, commanding 32.90% and 25.04% of the market share, respectively. iShares was also the top asset gatherer for the week, netting $453M in new flows, while SPDR experienced the largest weekly contractions, shedding -$19M across its product suite.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $66.03B | 32.90% |
| Vanguard | 8 | $50.26B | 25.04% |
| JPMorgan | 4 | $14.30B | 7.12% |
| Capital Group | 3 | $9.69B | 4.83% |
| SPDR | 5 | $9.40B | 4.68% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| Brand | 5-Day Flow |
|---|---|
| iShares | $453M |
| Vanguard | $402M |
| Capital Group | $74M |
| Outflows | |
| SPDR | -$19M |
| BNY Mellon | -$10M |
| Schwab | -$5M |
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.
