Weekly Channel Summary
The Fixed Income: Specialty ETF channel currently commands total Assets Under Management (AUM) of $65B across 127 ETFs and 15 distinct issuers. Market activity remains robust, with the channel attracting $0.90B in net new money over the past five days. This positive momentum brings the Year-to-Date (YTD) flow total to $1.00B, while the trailing 1-year flows stand at a significant $22.70B.
This Week’s Performance Leaders and Laggards
Performance across the channel was mixed this week. The “Fixed Income: Specialty – Maturing Ladder” category emerged as the top performer with a Week-to-Date (WTD) return of 0.49%, followed by “Fixed Income: Specialty – Defined Maturity” at 0.25%. Conversely, the “Fixed Income: Specialty – Interest Rate Volatility” category struggled, posting a loss of -0.54% for the week. On a Year-to-Date basis, Maturing Ladder leads with 0.36%, while Interest Rate Volatility remains in the red at -0.18%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Fixed Income: Specialty – Maturing Ladder | 0.49% | 0.51% | 0.41% | 2.98% | 0.36% | 6.60% |
| Fixed Income: Specialty – Defined Maturity | 0.25% | 0.65% | 1.19% | 3.35% | 0.24% | 6.99% |
| Fixed Income: Specialty – Interest Rate Volatility | -0.54% | -1.31% | -1.22% | -2.45% | -0.18% | -2.79% |
Top & Bottom 5 ETFs by Weekly Performance
Individually, the HYKE (Vest 2 Year Interest Rate Hedge ETF) led the channel with a return of 1.39%. On the downside, the PFIX (Simplify Interest Rate Hedge ETF) saw the steepest decline at -4.29%, while RISR (FolioBeyond Alternative Income and Interest Rate Hedge ETF) dropped -1.41%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| HYKE | Vest 2 Year Interest Rate Hedge ETF | 1.39% |
| BNDD | Quadratic Deflation ETF | 1.21% |
| IBGL | iShares iBonds Dec 2055 Term Treasury ETF | 0.91% |
| IBGK | iShares iBonds Dec 2054 Term Treasury ETF | 0.91% |
| LIBD | LifeX 2065 Inflation-Protected Longevity Income ETF | 0.87% |
| Bottom Performers | ||
| PFIX | Simplify Interest Rate Hedge ETF | -4.29% |
| RISR | FolioBeyond Alternative Income and Interest Rate Hedge ETF | -1.41% |
| IVOL | KraneShares Quadratic Interest Rate Volatility and Inflation Hedge ETF | -1.10% |
| IRVH | Global X Interest Rate Volatility & Inflation Hedge ETF | -0.69% |
| RFIX | Simplify Bond Bull ETF | -0.26% |
Analyzing the Weekly Flows
The Specialty channel realized a total net inflow of $900M this week. The “Specialty – Defined Maturity” category was the primary driver of this activity, securing $905M in fresh capital, bringing its total AUM to $64.4B. In contrast, “Specialty – Interest Rate Volatility” experienced minor outflows of -$5M, while the “Maturing Ladder” category saw a nominal inflow of $1M.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year |
|---|---|---|---|---|---|---|---|
| Specialty Defined Maturity | 91 | $64.4B | $905M | $4,141M | $8,048M | $1,008M | $22,521M |
| Fixed Income: Specialty – Maturing Ladder | 20 | $0.1B | $1M | $3M | ($47M) | $1M | $13M |
| Specialty – Interest Rate Volatility | 10 | $1.0B | ($5M) | $9M | $48M | ($8M) | $166M |
Top & Bottom 5 ETFs by 5-Day Flow
Flow leaders were dominated by term corporate products, with IBDT (iShares iBonds Dec 2028 Term Corporate ETF) and IBDU (iShares iBonds Dec 2029 Term Corporate ETF) gathering $74M and $71M respectively. On the outflow side, BSCQ (Invesco BulletShares 2026 Corporate Bond ETF) saw the largest redemption of -$50M.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| IBDT | iShares iBonds Dec 2028 Term Corporate ETF | $74M |
| IBDU | iShares iBonds Dec 2029 Term Corporate ETF | $71M |
| BSCT | Invesco BulletShares 2029 Corporate Bond ETF | $65M |
| BSCU | Invesco BulletShares 2030 Corporate Bond ETF | $58M |
| IBDS | iShares iBonds Dec 2027 Term Corporate ETF | $55M |
| Outflows | ||
| BSCQ | Invesco BulletShares 2026 Corporate Bond ETF | ($50M) |
| IBHF | iShares iBonds 2026 Term High Yield and Income ETF | ($18M) |
| IVOL | KraneShares Quadratic Interest Rate Volatility and Inflation Hedge ETF | ($5M) |
Issuer League Table Update
The specialty market remains highly concentrated, with iShares and Invesco holding a combined market share of nearly 98%. iShares led the pack this week with $615M in weekly inflows, further solidifying its top position. Invesco followed with $283M in inflows. On the other end of the spectrum, Quadratic saw the largest net outflows among major brands, losing -$5M over the period.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 47 | $37.79B | 57.71% |
| Invesco | 28 | $26.36B | 40.25% |
| Quadratic | 1 | $0.49B | 0.75% |
| Simplify | 2 | $0.24B | 0.36% |
| FolioBeyond | 1 | $0.18B | 0.28% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $615M |
| Invesco | $283M |
| State Street | $6M |
| Outflows | |
| Quadratic | ($5M) |
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.
