Weekly Channel Summary
The FI: Taxable channel continued to demonstrate robust scale this week, overseeing $2,011B in assets under management across 649 ETFs and 134 issuers. The channel attracted $5.86B in net inflows over the past five days, pushing the year-to-date total to an impressive $359.66B, with 1-year flows standing at $363.38B.
This Week’s Performance Leaders and Laggards
Preferred Stock emerged as the top-performing category this week, delivering a 0.34% return, followed closely by International and Emerging debt. On the other side of the spectrum, Government Long was the primary laggard, falling -0.86% as yields shifted. Despite the weekly dip, Government Long remains up 4.17% year-to-date, while Preferred Stock is up 5.65% YTD.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Preferred Stock | 0.34% | 0.14% | -0.17% | 5.22% | 5.65% | 4.13% |
| International | 0.20% | 0.40% | -0.18% | 0.96% | 11.22% | 9.01% |
| Emerging | 0.14% | 0.53% | 1.72% | 5.79% | 12.65% | 10.87% |
| Bank Loans | 0.10% | 0.49% | 1.11% | 3.28% | 5.79% | 6.02% |
| Government Short | 0.09% | 0.28% | 0.85% | 2.53% | 5.08% | 5.08% |
| Government Ultrashort | 0.09% | 0.37% | 1.01% | 2.13% | 4.04% | 4.29% |
| Ultrashort | 0.08% | 0.41% | 1.14% | 2.68% | 4.92% | 5.12% |
| Short-Term | 0.06% | 0.34% | 0.92% | 3.10% | 5.94% | 5.80% |
| Securitized | -0.01% | 0.13% | 0.93% | 4.12% | 7.42% | 6.70% |
| Emerging USD | -0.04% | 0.34% | 2.12% | 7.57% | 11.85% | 9.91% |
| High Yield | -0.10% | 0.48% | 0.85% | 4.33% | 7.82% | 7.03% |
| Multisector Taxable | -0.11% | 0.09% | 0.58% | 3.86% | 6.63% | 5.74% |
| Government Intermediate | -0.13% | -0.22% | 0.37% | 3.16% | 6.78% | 5.82% |
| Core | -0.18% | -0.21% | 0.39% | 3.56% | 6.61% | 5.52% |
| Core Enhanced | -0.18% | -0.18% | 0.42% | 3.81% | 6.95% | 5.77% |
| Inflation Protected | -0.18% | -0.37% | -0.35% | 2.95% | 6.49% | 5.42% |
| International USD | -0.23% | -0.57% | 0.31% | 0.98% | 2.66% | 2.24% |
| Corporate | -0.29% | -0.13% | 0.13% | 3.84% | 7.26% | 5.96% |
| Convertible | -0.37% | -1.38% | 0.45% | 9.23% | 21.71% | 17.80% |
| Long-Term | -0.65% | -0.96% | -0.84% | 4.29% | 7.11% | 4.27% |
| Government Long | -0.86% | -2.39% | -1.53% | 2.56% | 4.17% | 0.80% |
Top & Bottom 5 ETFs by Weekly Performance
The Global X Superincome Preferred ETF (SPFF) was the standout performer this week, leading the gainers. On the downside, long-duration treasuries faced pressure, with the iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) and PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund (ZROZ) lagging significantly.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| SPFF | Global X Superincome Preferred ETF | 1.29% |
| EPRF | Innovator S&P Investment Grade Preferred ETF | 1.03% |
| TSEC | Touchstone Securitized Income ETF | 0.90% |
| PFFD | Global X U.S. Preferred ETF | 0.74% |
| PFXF | VanEck Preferred Securities ex Financials ETF | 0.65% |
| Bottom Performers | ||
| GOVZ | iShares 25+ Year Treasury STRIPS Bond ETF | -1.76% |
| ZROZ | PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund | -1.67% |
| EDV | Vanguard Extended Duration Treasury ETF | -1.58% |
| DRSK | Aptus Defined Risk ETF | -1.17% |
| UTHY | US Treasury 30 Year Bond ETF | -0.92% |
Analyzing the Weekly Flows
The channel attracted $5.86B in net inflows this week. Multi-Sector strategies led the charge with $4.11B in new assets, while investors favored Blend credit types ($2.15B) and Intermediate duration funds ($4.94B). Conversely, Bank Loans saw net outflows of -$492M, lagging other segments.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| FI: Multi-Sector | 269 | $826.6B | $4,114M | $18,591M | $56,773M | $171,220M | $177,902M |
| FI: Corporate | 164 | $373.2B | $1,232M | $4,067M | $17,145M | $43,734M | $38,421M |
| Fl: Government | 115 | $612.2B | $475M | $12,726M | $39,237M | $113,864M | $114,888M |
| FI: Securitized | 37 | $100.8B | $464M | ($1,189M) | $204M | $17,343M | $17,741M |
| FI: Preferred Stock | 24 | $39.9B | $66M | $179M | $837M | $1,927M | $1,913M |
| FI: Cat Bonds | 1 | $0.0B | $1M | $11M | $16M | $27M | $27M |
| FI: Bank Loans | 36 | $57.7B | ($492M) | $41M | $217M | $11,522M | $12,469M |
Flows by Credit Type
| Credit Type | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Credit: Blend | 161 | $214.0B | $2,147M | $9,292M | $23,535M | $61,410M | $62,491M |
| Credit: Investment Grade | 334 | $1,610.8B | $2,135M | $21,104M | $81,959M | $273,376M | $278,145M |
| Credit: High Yield | 150 | $185.5B | $1,578M | $4,010M | $8,834M | $24,748M | $22,623M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 387 | $1,169.3B | $4,943M | $21,014M | $70,876M | $203,854M | $203,733M |
| Duration: Short | 82 | $265.7B | $667M | $3,477M | $13,069M | $38,923M | $41,865M |
| Duration: Long | 56 | $196.2B | $388M | $1,935M | $12,021M | $13,403M | $10,273M |
| Duration: Ultrashort | 120 | $379.1B | ($138M) | $7,980M | $18,361M | $103,354M | $107,389M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was the leader in asset gathering this week. Meanwhile, the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and Janus Henderson AAA CLO ETF (JAAA) saw the largest outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | $1,119M |
| EMB | iShares JP Morgan USD Emerging Markets Bond ETF | $547M |
| IEF | iShares 7-10 Year Treasury Bond ETF | $501M |
| NXUS | NuShares ETF Trust Nuveen International Aggregate Bond ETF | $498M |
| SGOV | iShares 0-3 Month Treasury Bond ETF | $437M |
| Outflows | ||
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | ($1,383M) |
| JAAA | Janus Henderson AAA CLO ETF | ($769M) |
| TLT | iShares 20+ Year Treasury Bond ETF | ($378M) |
| TIP | iShares TIPS Bond ETF | ($352M) |
| SHV | iShares Trust iShares 0-1 Year Treasury Bond ETF | ($327M) |
Issuer League Table Update
iShares and Vanguard remain the dominant forces in the taxable fixed income landscape, holding 38.18% and 26.63% of the market share, respectively. This week, Vanguard took the top spot for inflows with $2.45B, while Janus Henderson experienced the largest net outflows of -$647M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 83 | $767.60B | 38.18% |
| Vanguard | 29 | $535.49B | 26.63% |
| SPDR | 39 | $163.27B | 8.12% |
| JPMorgan | 18 | $73.37B | 3.65% |
| Schwab | 12 | $68.68B | 3.42% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $2,453M |
| iShares | $1,329M |
| Nuveen | $524M |
| Outflows | |
| Janus Henderson | -$647M |
| WisdomTree | -$181M |
| Xtrackers | -$23M |
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.
