Weekly Channel Summary
The FI: Municipal ETF channel encompasses $207.0B in total Assets Under Management (AUM) across 135 ETFs offered by 48 unique issuers. Over the past week, the space saw strong net inflows of $1.76B. This positive momentum is part of a broader, sustained trend, with Year-to-Date (YTD) flows reaching $21.24B and trailing 1-Year flows totaling a robust $51.80B.
This Week’s Performance Leaders and Laggards
In terms of Week-to-Date (WTD) performance, the Short duration category led the pack, edging out a 0.05% gain to bring its YTD performance to 0.66%. On the other end of the spectrum, the Long duration category lagged, posting a -0.07% WTD decline, though it remains up 0.45% YTD.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Short | 0.05% | -0.16% | -0.33% | 1.09% | 0.66% | 3.59% |
| High Yield | 0.00% | -0.67% | -0.80% | 1.46% | 1.09% | 6.96% |
| Intermediate | 0.00% | -0.77% | -1.28% | 0.73% | 0.39% | 6.05% |
| Single State | -0.05% | -0.86% | -1.11% | 0.69% | 0.41% | 5.74% |
| Long | -0.07% | -1.16% | -1.13% | 0.63% | 0.45% | 6.88% |
Top & Bottom 5 ETFs by Weekly Performance
Looking at individual funds, the Invesco Taxable Municipal Bond ETF (BAB) was the strongest performer of the week, returning an impressive 0.50%. The Rareview Tax Advantaged Income ETF (RTAI) and the VanEck CEF Muni Income ETF (XMPT) trailed the group, posting weekly declines of -0.48% and -0.35%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| BAB | Invesco Taxable Municipal Bond ETF | 0.50% |
| WTMY | WisdomTree High Income Laddered Municipal Fund | 0.16% |
| HTAX | Nomura National High-Yield Municipal Bond ETF | 0.16% |
| JMHI | JPMorgan High Yield Municipal ETF | 0.14% |
| HTAB | Hartford Schroders Tax-Aware Bond ETF | 0.13% |
| Bottom Performers | ||
| RTAI | Rareview Tax Advantaged Income ETF | -0.48% |
| XMPT | VanEck CEF Muni Income ETF | -0.35% |
| YYYM | Amplify Municipal CEF High Income ETF | -0.34% |
| MUST | Columbia Multi-Sector Municipal Income ETF | -0.25% |
| PMIO | PGIM Municipal Income Opportunities ETF | -0.20% |
Analyzing the Weekly Flows
The municipal ETF channel brought in $1.76B in total net inflows this past week. The Intermediate duration category captured the lion’s share, pulling in $1.41B to boost its massive $166.1B AUM base. The Short duration segment also saw notable interest, attracting $261M in new capital. Conversely, there were minimal outflows at the category level, though Long duration ETFs saw the slowest intake, gathering $92M.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Intermediate | 98 | $166.1B | $1,406M | $5,101M | $10,701M | $15,802M | $39,398M |
| Short | 27 | $32.9B | $261M | $896M | $1,849M | $2,814M | $9,040M |
| Long | 10 | $8.0B | $92M | $295M | $2,177M | $2,619M | $3,359M |
Top & Bottom ETFs by 5-Day Flow
At the fund level, the Vanguard Tax-Exempt Bond ETF (VTEB) was a massive draw, taking in $485M in fresh capital over the past five days. Outflows were remarkably sparse across the channel; the BNY Mellon Municipal Intermediate ETF (BKMI) and the BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) were the only listed outflows, at -$4M and $0M, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $485M |
| MUB | iShares National Muni Bond ETF | $148M |
| CGMU | Capital Group Municipal Income ETF | $75M |
| JMUB | JPMorgan Municipal ETF | $75M |
| MUNI | PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund | $57M |
| Outflows | ||
| BKMI | BNY Mellon Municipal Intermediate ETF | -$4M |
| TAXM | BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents | $0M |
Issuer League Table Update
The municipal ETF landscape remains highly concentrated at the top, with iShares and Vanguard controlling 32.54% and 25.22% of the market share, respectively. Vanguard proved to be the most successful asset gatherer this week, adding $570M to its roster. Conversely, BNY Mellon experienced the largest net outflows among top issuers, shedding -$4M over the 5-day period.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $67.36B | 32.54% |
| Vanguard | 8 | $52.21B | 25.22% |
| JPMorgan | 4 | $14.65B | 7.08% |
| Capital Group | 3 | $10.24B | 4.95% |
| SPDR | 4 | $9.42B | 4.55% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $570M |
| iShares | $386M |
| Capital Group | $146M |
| Outflows | |
| BNY Mellon | -$4M |
| aberdeen | $0M |
| ActivePassive | $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.
