Weekly Channel Summary
The Taxable bond ETF channel encompasses 724 funds from 149 issuers, with total assets under management standing at $2.37 trillion. Investors added a net $6.8 billion to the channel over the past week. This brings year-to-date inflows to a substantial $400.2 billion, while the one-year total now stands at $540.4 billion.
This Week’s Performance Leaders and Laggards
Performance across taxable bond categories was broadly negative, with longer-duration assets seeing the steepest declines. Government Ultrashort funds were a rare bright spot, finishing as the top-performing category with a modest 0.05% gain for the week. In contrast, Government Long funds anchored the bottom of the list, falling by 1.56%. Despite a weekly loss of 0.44%, Convertible bond ETFs maintain their significant year-to-date lead with a return of 16.68%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Taxable – Government Ultrashort | 0.05% | 0.32% | 0.94% | 1.85% | 2.53% | 3.78% |
| Taxable – Ultrashort | -0.01% | 0.28% | 0.93% | 2.04% | 2.68% | 4.13% |
| Taxable – Bank Loans | -0.09% | 0.69% | 2.03% | 3.89% | 2.72% | 4.55% |
| Municipal – Single State | -0.20% | 0.16% | — | — | — | — |
| Taxable – Government Short | -0.41% | -0.33% | 0.04% | 0.26% | 0.62% | 1.77% |
| Taxable – Convertible | -0.44% | -0.92% | -2.78% | 10.55% | 16.68% | 18.62% |
| Taxable – Short-Term | -0.57% | -0.57% | -0.32% | 0.05% | 0.46% | 1.67% |
| Taxable – High Yield | -0.67% | -0.51% | 0.03% | 1.79% | 1.77% | 3.28% |
| Taxable – Preferred Stock | -0.72% | -0.96% | -1.23% | -0.27% | 0.58% | 0.21% |
| Taxable – Emerging | -0.74% | -0.04% | 1.50% | 2.46% | 2.65% | 5.55% |
| Taxable – Inflation Protected | -0.75% | -0.65% | -1.05% | -0.45% | 0.55% | 0.37% |
| Taxable – Multisector | -0.77% | -0.77% | -0.52% | 0.47% | 0.75% | 2.13% |
| Taxable – International | -0.78% | -0.31% | -0.38% | -0.38% | -0.72% | -1.27% |
| Taxable – International USD | -0.91% | -1.37% | -1.61% | -0.97% | -0.67% | -0.45% |
| Taxable – Government Intermediate | -0.99% | -1.19% | -1.63% | -2.07% | -1.68% | -1.16% |
| Taxable – Core | -1.04% | -1.08% | -1.91% | -1.73% | -1.33% | -0.79% |
| Taxable – Core Enhanced | -1.06% | -1.09% | -1.81% | -1.48% | -1.08% | -0.41% |
| Taxable – Corporate | -1.09% | -1.30% | -2.37% | -1.71% | -1.72% | -1.25% |
| Taxable – Emerging USD | -1.18% | -1.10% | -1.69% | 0.21% | 0.49% | 2.85% |
| Taxable – Securitized | -1.33% | -1.37% | -2.05% | -1.72% | -1.08% | 0.16% |
| Taxable – Long-Term | -1.41% | -1.15% | -4.63% | -2.97% | -3.45% | -4.74% |
| Taxable – Government Long | -1.56% | -1.36% | -4.02% | -4.39% | -3.86% | -5.03% |
Top & Bottom 5 ETFs by Weekly Performance
The Chesapeake Trend-Following Fixed Income ETF (TFFI) delivered a standout performance, gaining 3.45% and significantly outpacing its peers. On the other end of the spectrum, funds employing futures strategies and those with long duration exposure faced significant headwinds. The Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) was the week’s worst performer, declining by 3.86%, while the iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) shed 2.19%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| TFFI | Chesapeake Trend-Following Fixed Income ETF | 3.45% |
| MBSX | Regan Fixed Rate MBS ETF | 0.58% |
| CSHP | iShares Dynamic Short-Term Active ETF | 0.51% |
| HYHG | ProShares High Yield-Interest Rate Hedged ETF | 0.41% |
| SLNZ | TCW Senior Loan ETF | 0.40% |
| Bottom Performers | ||
| TYA | Simplify Intermediate Term Treasury Futures Strategy ETF | -3.86% |
| CRDT | Simplify Opportunistic Income ETF | -2.68% |
| TUA | Simplify Short Term Treasury Futures Strategy ETF | -2.64% |
| GOVZ | iShares 25+ Year Treasury STRIPS Bond ETF | -2.19% |
| DWWN | Principal Long Duration ETF | -2.19% |
Analyzing the Weekly Flows
Taxable bond ETFs attracted nearly $6.8 billion in net inflows, driven by a distinct flight to safety. Government bond funds led all segments, pulling in $5.6 billion, while Corporate bond funds experienced the largest redemptions, shedding $3.1 billion. This risk-off sentiment was also evident in credit quality, as Investment Grade products gathered $6.9 billion while High Yield funds saw over $1.3 billion in outflows. From a duration perspective, Ultrashort funds were the clear favorite, capturing approximately $5.0 billion of the week’s new assets.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Government | 133 | $745.18B | $5,619M | $25,970M | $47,586M | $145,763M | $192,136M |
| Multi-Sector | 305 | $993.38B | $3,871M | $22,185M | $66,685M | $180,001M | $252,841M |
| Bank Loans | 50 | $73.91B | $396M | $2,900M | $7,121M | $16,363M | $17,045M |
| Securitized | 47 | $108.86B | $108M | $1,753M | $3,705M | $10,061M | $11,194M |
| Cat Bonds | 1 | $102M | $2M | $15M | $22M | $65M | $88M |
| Preferred Stock | 30 | $42.45B | -$78M | $41M | $1,484M | $2,852M | $3,901M |
| Corporate | 158 | $407.85B | -$3,139M | -$2,125M | $14,766M | $45,060M | $63,240M |
Flows by Credit Type
| Credit Type | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Credit: Investment Grade | 373 | $1,895.73B | $6,919M | $44,622M | $111,033M | $321,242M | $422,121M |
| Credit: Blend | 194 | $279.44B | $1,161M | $7,501M | $23,893M | $66,259M | $95,379M |
| Specialty: Interest Rate Volatility | 1 | $113M | $3M | $20M | $57M | $93M | $93M |
| Credit: High Yield | 153 | $196.14B | -$1,310M | -$1,443M | $6,296M | $12,394M | $22,568M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: Ultrashort | 149 | $521.43B | $4,995M | $21,764M | $43,217M | $139,342M | $161,909M |
| Duration: Long | 62 | $195.03B | $1,715M | $5,308M | $10,964M | $10,116M | $23,203M |
| Duration: Short | 92 | $320.15B | $747M | $14,671M | $25,496M | $56,352M | $72,040M |
| Duration: Intermediate | 418 | $1,334.80B | -$684M | $8,956M | $61,602M | $194,178M | $283,009M |
Top & Bottom 5 ETFs by 5-Day Flow
The shift away from credit risk was pronounced at the fund level, with corporate bond ETFs facing heavy redemptions. The iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) led outflows with $1.4 billion in withdrawals, followed by the iShares iBoxx $ High Yield Corporate Bond ETF (HYG), which shed $779 million. Conversely, investors flocked to government debt, with the iShares 0-3 Month Treasury Bond ETF (SGOV) taking the top spot for inflows at over $1.8 billion.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SGOV | iShares 0-3 Month Treasury Bond ETF | $1,819M |
| IQMM | ProShares GENIUS Money Market ETF | $1,173M |
| TLT | iShares 20+ Year Treasury Bond ETF | $1,156M |
| BND | Vanguard Total Bond Market ETF | $582M |
| USFR | WisdomTree Floating Rate Treasury Fund | $397M |
| Outflows | ||
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -$1,403M |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | -$779M |
| VCIT | Vanguard Intermediate-Term Corporate Bond ETF | -$577M |
| BOXX | Alpha Architect 1-3 Month Box ETF | -$369M |
| SPIB | State Street SPDR Portfolio Intermediate Term Corporate Bond ETF | -$302M |
Issuer League Table Update
iShares and Vanguard continue to dominate the taxable bond landscape, commanding 36.0% and 26.1% of the market share, respectively. iShares also led the weekly league table for inflows, attracting nearly $2.1 billion in new assets, bolstered by strong demand for its government bond products. ProShares and Vanguard also had successful weeks, each bringing in over $1.1 billion. On the other side of the ledger, Alpha Architect experienced the largest net outflows among issuers, with redemptions totaling $367 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 87 | $852.79B | 35.96% |
| Vanguard | 31 | $618.09B | 26.06% |
| SPDR | 36 | $176.55B | 7.44% |
| JPMorgan | 20 | $99.39B | 4.19% |
| Schwab | 12 | $80.53B | 3.40% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $2,074M |
| ProShares | $1,194M |
| Vanguard | $1,141M |
| Outflows | |
| Alpha Architect | -$367M |
| Invesco | -$332M |
| SPDR | -$268M |
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.
