Weekly Channel Summary
The taxable fixed income ETF channel remains a massive segment of the market, closing the week with $2,165 billion in total Assets Under Management (AUM) spread across 679 ETFs and 140 brands. Investor activity was notably positive over the past five days, with the channel attracting $10.17 billion in net new money. This momentum carries into the broader trend for the year, with Year-To-Date (YTD) flows reaching $147.08 billion and the trailing one-year total standing at $440.43 billion.
This Week’s Performance Leaders and Laggards
Performance was varied across fixed income categories this week. Bank Loans emerged as a relative leader with a return of 0.10%, while safe-haven International bonds also stayed in the green. The primary laggard was the Emerging USD category, which fell by -1.04%. On a YTD basis, most categories are struggling with negative returns, though Convertible bonds remain a standout performer for the year.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Bank Loans | 0.10% | -0.89% | -1.02% | -0.32% | -1.29% | 3.52% |
| International | 0.09% | -3.34% | -0.95% | -1.32% | -1.56% | 6.00% |
| Government Ultrashort | 0.05% | 0.21% | 0.82% | 1.84% | 0.71% | 4.02% |
| Ultrashort | 0.04% | -0.06% | 0.74% | 1.88% | 0.59% | 4.74% |
| Convertible | -0.20% | -2.15% | 2.07% | 0.83% | 3.26% | 21.30% |
| Short-Term | -0.24% | -0.83% | 0.07% | 1.11% | -0.06% | 4.52% |
| Inflation Protected | -0.25% | -0.53% | 0.50% | 0.27% | 0.44% | 3.81% |
| Government Short | -0.28% | -0.60% | 0.01% | 1.01% | -0.08% | 3.69% |
| Corporate | -0.32% | -2.34% | -1.01% | -0.54% | -1.16% | 4.06% |
| High Yield | -0.32% | -1.75% | -0.48% | 0.23% | -0.80% | 5.66% |
| International USD | -0.35% | -1.53% | -0.11% | 0.40% | -0.37% | 3.00% |
| Long-Term | -0.42% | -3.91% | -1.79% | -1.94% | -1.92% | 2.12% |
| Securitized | -0.49% | -1.30% | 0.16% | 1.51% | 0.04% | 5.08% |
| Multisector Taxable | -0.49% | -2.05% | -0.62% | 0.17% | -0.79% | 4.10% |
| Core | -0.51% | -1.84% | -0.50% | 0.39% | -0.60% | 3.88% |
| Core Enhanced | -0.54% | -1.96% | -0.51% | 0.34% | -0.63% | 4.07% |
| Government Intermediate | -0.65% | -1.75% | -0.71% | 0.14% | -0.75% | 3.40% |
| Emerging | -0.71% | -3.09% | -0.49% | 1.46% | -1.02% | 8.97% |
| Government Long | -0.89% | -3.57% | -1.34% | -1.41% | -1.28% | -0.79% |
On an individual fund basis, the VPC (Virtus Private Credit Strategy ETF) stood out as the single best-performing ETF this week with a gain of 1.47%. Conversely, the worst-performing ETFs by WTD return were the PFFA (Virtus InfraCap U.S. Preferred Stock ETF), which shed -2.64%, and the CRDT (Simplify Opportunistic Income ETF), which fell by -2.56%.
Top & Bottom 5 ETFs by Weekly Performance
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| VPC | Virtus Private Credit Strategy ETF | 1.47% |
| CVRT | Calamos Convertible Equity Alternative ETF | 0.99% |
| TFFI | Chesapeake Trend-Following Fixed Income ETF | 0.68% |
| IGHG | ProShares Investment Grade-Interest Rate Hedged | 0.58% |
| ISHG | iShares 1-3 Year International Treasury Bond ETF | 0.57% |
| Bottom Performers | ||
| PFFA | Virtus InfraCap U.S. Preferred Stock ETF | -2.64% |
| CRDT | Simplify Opportunistic Income ETF | -2.56% |
| TYA | Simplify Intermediate Term Treasury Futures Strategy ETF | -2.32% |
| RDFI | Rareview Dynamic Fixed Income ETF | -2.22% |
| PFXF | VanEck Preferred Securities ex Financials ETF | -2.19% |
Analyzing the Weekly Flows
The channel saw massive interest this week with a total net inflow of $10,167 million. The FI: Government segment led all others with $7,093 million in inflows, while Credit: Investment Grade was the dominant credit type at $11,478 million. In terms of duration, Duration: Ultrashort gathered the most assets with $6,555 million. The largest laggard for outflows across implementation types was Duration: Long, which saw $1,112 million exit the segment this week.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| FI: Government | 119 | $680.4B | $7,093M | $28,912M | $70,433M | $64,832M | $155,675M |
| FI: Multi-Sector | 281 | $897.8B | $3,239M | $20,019M | $72,786M | $63,618M | $210,662M |
| FI: Securitized | 41 | $104.6B | $101M | $719M | $2,876M | $2,510M | $17,767M |
| FI: Corporate | 164 | $383.3B | $64M | $1,078M | $12,180M | $13,481M | $48,544M |
| FI: Bank Loans | 44 | $59.5B | -$102M | -$1,960M | $2,913M | $2,348M | $5,911M |
| FI: Preferred Stock | 26 | $39.7B | -$229M | -$99M | $354M | $261M | $1,813M |
Flows by Credit Type
| Credit Type | Fund Count | AUM | 5 Day Flow | YTD Flow |
|---|---|---|---|---|
| Credit: Investment Grade | 352 | $1,746.5B | $11,478M | $128,703M |
| Credit: Blend | 171 | $240.4B | -$37M | $23,135M |
| Credit: High Yield | 152 | $178.3B | -$1,275M | -$4,783M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day Flow | YTD Flow |
|---|---|---|---|---|
| Duration: Ultrashort | 132 | $438.7B | $6,555M | $57,168M |
| Duration: Short | 84 | $3,157M | $3,157M | $16,837M |
| Duration: Intermediate | 402 | $1,248.7B | $1,568M | $73,225M |
| Duration: Long | 57 | $194.4B | -$1,112M | -$176M |
The SGOV (iShares 0-3 Month Treasury Bond ETF) was the top gathered for inflows this week, adding $1,865 million to its AUM. On the flip side, the EMB (iShares JP Morgan USD Emerging Markets Bond ETF) and the TLT (iShares 20+ Year Treasury Bond ETF) saw the largest departures of capital, shedding $1,269 million and $915 million respectively.
Top & Bottom 5 ETFs by 5-Day Flow
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SGOV | iShares 0-3 Month Treasury Bond ETF | $1,865M |
| BIL | State Street SPDR Bloomberg 1-3 Month T-Bill ETF | $1,849M |
| GOVT | iShares U.S. Treasury Bond ETF | $1,303M |
| VCSH | Vanguard Short-Term Corporate Bond ETF | $1,150M |
| SPSB | State Street SPDR Portfolio Short Term Corporate Bond ETF | $1,021M |
| Outflows | ||
| EMB | iShares JP Morgan USD Emerging Markets Bond ETF | -$1,269M |
| TLT | iShares 20+ Year Treasury Bond ETF | -$915M |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -$762M |
| USHY | iShares Broad USD High Yield Corporate Bond ETF | -$503M |
| IQMM | ProShares GENIUS Money Market ETF | -$501M |
Issuer League Table Update
The channel’s power players remain iShares and Vanguard, together controlling over 63% of the taxable ETF market. iShares maintains the top spot with 37.08% market share, while Vanguard follows with 26.46%. Vanguard was the week’s flow champion, gathering $3,510 million in net inflows. Among the top five issuers, SPDR also saw strong interest, while ProShares saw the largest absolute outflows this week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | Market Share |
|---|---|---|---|
| iShares | 87 | $802.88B | 37.08% |
| Vanguard | 30 | $572.88B | 26.46% |
| SPDR | 38 | $166.06B | 7.67% |
| JPMorgan | 19 | $82.85B | 3.83% |
| Schwab | 12 | $73.24B | 3.38% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $3,510M |
| SPDR | $2,563M |
| iShares | $746M |
| Outflows | |
| ProShares | -$510M |
| Xtrackers | -$255M |
| VanEck | -$123M |
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.
