Weekly Channel Summary
The FI: Specialty channel closed the week with $75.56B in total AUM spread across 168 ETFs from 14 issuers. Net flows were positive at $317M for the 5-day period, extending a strong year with $12,914M gathered YTD and $19,523M over the trailing 1-year period. The channel continues to see steady demand, driven primarily by defined maturity bond ladders and target-date corporate and government products.
This Week’s Performance Leaders and Laggards
Specialty – Maturing Ladder led the channel on a weekly basis with a 1.03% gain, reversing some of its negative YTD trend of -1.07%. Specialty – Defined Maturity posted a modest 0.29% WTD return and remains the largest category by far, with YTD performance of 0.63% and a 1-year gain of 1.24%. Specialty – Interest Rate Volatility was the weekly laggard at -1.63%, though it remains the standout performer over longer horizons with a 9.64% 6-month return and 10.77% over the trailing year. The divergence highlights how rate-hedge vehicles can see short-term pullbacks even amid strong multi-month trends.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Specialty – Maturing Ladder | 1.03% | 0.15% | -1.51% | -1.70% | -1.07% | -1.50% |
| Specialty – Defined Maturity | 0.29% | 0.15% | -0.38% | -0.02% | 0.63% | 1.24% |
| Specialty – Interest Rate Volatility | -1.63% | 4.45% | 7.68% | 9.64% | 8.03% | 10.77% |
Top & Bottom 5 ETFs by Weekly Performance
Long-dated Treasury ladder funds topped the weekly leaderboard, with IBGL gaining 2.62% and IBGK close behind at 2.60%, alongside strong showings from the LifeX longevity income suite. On the downside, PFIX was the clear laggard, falling 5.06% for the week as rate-hedge positioning reversed. High yield-focused term funds such as IBHK and BSJV also lagged, each down less than 1.2% for the week, consistent with modest pressure across credit-sensitive maturity products.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| IBGL | iShares iBonds Dec 2055 Term Treasury ETF | 2.62% |
| IBGK | iShares iBonds Dec 2054 Term Treasury ETF | 2.60% |
| IBGM | iShares iBonds Dec 2056 Term Treasury ETF | 2.59% |
| LIBD | LifeX 2065 Inflation-Protected Longevity Income ETF | 2.57% |
| LIAU | LifeX 2060 Inflation-Protected Longevity Income ETF | 2.31% |
| Bottom Performers | ||
| PFIX | Simplify Interest Rate Hedge ETF | -5.06% |
| IBHK | iShares iBonds 2031 Term High Yield and Income ETF | -1.18% |
| BSJV | Invesco BulletShares 2031 High Yield Corporate Bond ETF | -0.94% |
| MYHE | State Street My2031 High Yield Corporate Bond ETF | -0.84% |
| RISR | FolioBeyond Alternative Income and Interest Rate Hedge ETF | -0.83% |
Analyzing the Weekly Flows
The channel attracted $317M in net inflows for the week, led overwhelmingly by the Specialty – Defined Maturity category with $252M, while Specialty – Interest Rate Volatility added a further $60M despite its weak weekly performance. By segment, Government funds gathered the most new capital at $198M, followed by Corporate at $75M and Municipal at $44M. Duration flows showed a clear preference for longer-dated maturities, with the 2026 bucket seeing the largest outflow of -$315M as funds roll off, while 2029 and 2030 vintages led inflows with $181M and $115M respectively.
Flows by Category
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Specialty – Defined Maturity | 132 | $74.38B | $252M | $1,313M | $3,660M | $12,847M | $19,445M |
| Specialty – Interest Rate Volatility | 8 | $1.00B | $60M | $96M | $87M | $40M | $100M |
| Specialty – Maturing Ladder | 28 | $181M | $4M | $9M | -$0M | $27M | -$21M |
Flows by Segment
| Segment | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Government | 66 | $14.22B | $198M | $752M | $1,643M | $3,611M | $4,927M |
| Corporate | 66 | $55.83B | $75M | $473M | $1,671M | $8,084M | $12,842M |
| Municipal | 36 | $5.51B | $44M | $193M | $433M | $1,219M | $1,755M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: 2026 | 9 | $10.07B | -$315M | -$834M | -$1,989M | -$3,505M | -$2,661M |
| Duration: 2027 | 13 | $13.74B | -$8M | $112M | $571M | $1,754M | $2,496M |
| Duration: 2028 | 14 | $13.40B | $37M | $320M | $1,043M | $3,505M | $4,672M |
| Duration: 2029 | 13 | $10.76B | $181M | $350M | $713M | $2,540M | $3,629M |
| Duration: 2030 | 17 | $8.83B | $115M | $353M | $907M | $2,554M | $3,672M |
| Duration: 2031 | 15 | $6.11B | $96M | $292M | $755M | $1,921M | $2,415M |
| Duration: 2032 | 13 | $4.40B | $23M | $116M | $379M | $1,092M | $1,542M |
| Duration: 2033 | 11 | $3.09B | $23M | $134M | $347M | $829M | $1,024M |
| Duration: 2034 | 10 | $2.14B | $22M | $141M | $274M | $835M | $1,089M |
| Duration: 2035 | 13 | $1.34B | $19M | $158M | $320M | $868M | $1,054M |
| Duration: 2036 | 9 | $416M | $51M | $169M | $279M | $385M | $385M |
| Duration: 2044 | 1 | $71M | $0M | -$2M | -$25M | -$7M | $2M |
| Duration: 2045 | 3 | $23M | $0M | $0M | $3M | $3M | $4M |
| Duration: 2046 | 3 | $69M | $7M | $9M | $49M | $57M | $57M |
| Duration: 2050 | 2 | $7M | $0M | $0M | $0M | $0M | $1M |
| Duration: 2054 | 1 | $5M | $0M | $0M | $0M | $2M | $4M |
| Duration: 2055 | 5 | $23M | $4M | $6M | -$0M | -$0M | -$1M |
| Duration: 2056 | 3 | $53M | $0M | $0M | $39M | $42M | $42M |
| Duration: 2060 | 2 | $4M | $0M | $0M | -$4M | -$2M | -$3M |
| Duration: 2065 | 2 | $6M | $0M | $1M | -$1M | -$1M | -$1M |
| Duration: Long | 1 | $1M | $0M | -$0M | $0M | $0M | -$0M |
Top & Bottom 5 ETFs by 5-Day Flow
Invesco’s BulletShares 2029 Corporate Bond ETF (BSCT) topped the weekly inflow list with $79M, followed by PFIX at $49M despite its negative weekly performance. On the outflow side, the iShares iBonds Dec 2026 Term Corporate ETF (IBDR) saw the largest redemptions at -$180M, consistent with the broader 2026 duration bucket’s outflows, while the iShares iBonds Dec 2026 Term Treasury ETF (IBTG) shed -$41M as that maturity year nears completion.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| BSCT | Invesco BulletShares 2029 Corporate Bond ETF | $79M |
| PFIX | Simplify Interest Rate Hedge ETF | $49M |
| IBDU | iShares iBonds Dec 2029 Term Corporate ETF | $47M |
| IBTK | iShares iBonds Dec 2030 Term Treasury ETF | $42M |
| IBDV | iShares iBonds Dec 2030 Term Corporate ETF | $36M |
| Outflows | ||
| IBDR | iShares iBonds Dec 2026 Term Corporate ETF | -$180M |
| IBTG | iShares iBonds Dec 2026 Term Treasury ETF | -$41M |
| BSCQ | Invesco BulletShares 2026 Corporate Bond ETF | -$38M |
| IBTH | iShares iBonds Dec 2027 Term Treasury ETF | -$25M |
| IBHF | iShares iBonds 2026 Term High Yield and Income ETF | -$21M |
Issuer League Table Update
iShares remains the dominant issuer in the channel with $44.02B in AUM and a 58.25% market share across 56 funds, followed by Invesco at $28.59B and 37.83% share across 36 funds; together these two issuers control roughly 96% of channel assets. Invesco led weekly inflows with $132M, outpacing iShares’ $75M, while Simplify rounded out the top three with $49M driven largely by PFIX flows. No issuer recorded a meaningful net outflow for the week, with KraneShares, American Beacon, and Global X all showing negligible flat activity.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 56 | $44.02B | 58.25% |
| Invesco | 36 | $28.59B | 37.83% |
| State Street | 24 | $1.22B | 1.62% |
| Vanguard | 10 | $548M | 0.73% |
| FolioBeyond | 1 | $429M | 0.57% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Invesco | $132M |
| iShares | $75M |
| Simplify | $49M |
| Outflows | |
| KraneShares | -$0M |
| American Beacon | $0M |
| Global X | $0M |
For a deeper dive into these trends, access our FREE, in-depth FI: Specialty 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.
