Weekly Channel Summary
The Fixed Income (Taxable) channel, now comprising 622 ETFs from 131 issuers, holds a total of $1.91 trillion in assets under management. The channel saw significant interest over the past week with net inflows of $5.59 billion. This contributes to a robust year-to-date inflow of $251.14 billion. Over the past twelve months, the channel has attracted an impressive $323.92 billion in new assets, underscoring continued strong investor demand for taxable fixed income products.
This Week’s Performance Leaders and Laggards
This week’s performance was overwhelmingly led by the Convertible category, which surged with a 2.08% gain, adding to its remarkable 19.41% year-to-date return. On the other end of the spectrum, the Government Long category was the primary laggard, posting a loss of 0.92% for the week. Despite the weekly decline, the category remains positive for the year with a YTD return of 5.35%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Convertible | 2.08% | 6.40% | 10.99% | 18.82% | 19.41% | 26.12% |
| Preferred Stock | 0.38% | 2.20% | 6.05% | 5.43% | 6.48% | 4.27% |
| High Yield | 0.31% | 1.61% | 3.69% | 5.45% | 6.99% | 7.11% |
| Emerging | 0.11% | 1.53% | 4.54% | 7.30% | 10.61% | 8.18% |
| Ultrashort | 0.11% | 0.51% | 1.56% | 2.79% | 3.85% | 5.28% |
| Government Ultrashort | 0.08% | 0.41% | 1.14% | 2.18% | 3.10% | 4.40% |
| Short-Term | 0.07% | 0.81% | 2.22% | 3.46% | 5.07% | 5.01% |
| Bank Loans | 0.03% | 0.58% | 2.07% | 3.80% | 4.12% | 6.61% |
| Government Short | 0.02% | 0.68% | 1.71% | 2.73% | 4.28% | 3.85% |
| Multisector Taxable | 0.02% | 1.45% | 3.32% | 4.07% | 6.04% | 4.53% |
| International USD | 0.00% | 0.53% | 0.82% | 2.86% | 2.58% | 2.84% |
| International | -0.02% | 1.06% | 1.70% | 7.30% | 11.40% | 4.31% |
| Corporate | -0.08% | 1.72% | 3.88% | 4.70% | 7.11% | 4.15% |
| Securitized | -0.08% | 1.38% | 3.12% | 3.72% | 6.28% | 4.25% |
| Core Enhanced | -0.13% | 1.69% | 3.42% | 3.86% | 6.40% | 3.32% |
| Inflation Protected | -0.14% | 1.46% | 2.95% | 3.67% | 6.80% | 4.22% |
| Core | -0.17% | 1.56% | 3.20% | 3.61% | 6.10% | 3.07% |
| Government Intermediate | -0.21% | 1.24% | 2.66% | 3.45% | 6.26% | 2.49% |
| Emerging USD | -0.25% | 1.52% | 5.39% | 6.73% | 9.50% | 7.28% |
| Long-Term | -0.44% | 2.91% | 5.34% | 4.17% | 7.66% | 0.67% |
| Government Long | -0.92% | 2.93% | 3.95% | 0.65% | 5.35% | -5.09% |
Top & Bottom 5 ETFs by Weekly Performance
The standout performer this week was the Calamos Convertible Equity Alternative ETF (CVRT), which surged by an impressive 2.79%. On the other end of the spectrum, the iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) was the worst performer with a decline of 1.74%, closely followed by the PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund (ZROZ), which fell by 1.73%.
| Top Performers | ||
| CVRT | Calamos Convertible Equity Alternative ETF | 2.79% |
| BMAX | REX Bitcoin Corporate Treasury Convertible Bond ETF | 2.52% |
| FCVT | First Trust SSI Strategic Convertible Securities ETF | 2.49% |
| ICVT | iShares Convertible Bond ETF | 2.31% |
| CWB | SPDR Bloomberg Convertible Securities ETF | 2.15% |
| Bottom Performers | ||
| XTWY | BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF | -1.24% |
| TYA | Simplify Intermediate Term Treasury Futures Strategy ETF | -1.30% |
| EDV | Vanguard Extended Duration Treasury ETF | -1.60% |
| ZROZ | PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund | -1.73% |
| GOVZ | iShares 25+ Year Treasury STRIPS Bond ETF | -1.74% |
Analyzing the Weekly Flows
The Fixed Income (Taxable) channel saw robust inflows this week, totaling nearly $5.6 billion. A breakdown by segment reveals that Government funds were the most popular, attracting approximately $3.5 billion. When viewed by credit quality, Investment Grade funds dominated, pulling in over $4.1 billion. The standout trend from a duration perspective was the significant inflow into Long-duration funds, which gathered $2.65 billion. The only category to see significant outflows was Corporate funds, which shed $970 million.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| FI: Government | 112 | $577.7B | $3,498M | $10,399M | $20,732M | $78,125M | $76,048M |
| FI: Multi-Sector | 254 | $772.2B | $2,429M | $17,109M | $45,840M | $116,874M | $161,402M |
| FI: Securitized | 36 | $100.7B | $254M | $2,556M | $10,356M | $17,732M | $25,961M |
| FI: Bank Loans | 33 | $57.6B | $247M | $2,057M | $6,508M | $11,552M | $23,890M |
| FI: Preferred Stock | 24 | $40.1B | $137M | $575M | $1,059M | $1,226M | $2,317M |
| FI: Cat Bonds | 1 | $0.0B | $0M | $0M | $3M | $11M | $11M |
| FI: Corporate | 161 | $356.9B | ($970M) | $1,412M | $16,955M | $25,620M | $34,289M |
Flows by Credit Type
| Credit Type | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Credit: Investment Grade | 326 | $1,535.7B | $4,145M | $25,286M | $73,552M | $195,902M | $242,805M |
| Credit: Blend | 151 | $190.6B | $945M | $7,486M | $17,675M | $38,819M | $53,594M |
| Credit: High Yield | 144 | $178.9B | $504M | $1,335M | $10,226M | $16,420M | $27,520M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Duration: Long | 56 | $188.8B | $2,654M | $3,157M | $967M | $4,036M | ($4,253M) |
| Duration: Intermediate | 372 | $1,102.3B | $1,821M | $21,065M | $63,027M | $135,137M | $183,966M |
| Duration: Short | 81 | $253.8B | $578M | $2,646M | $12,227M | $26,433M | $35,165M |
| Duration: Ultrashort | 112 | $360.4B | $541M | $7,239M | $25,232M | $85,535M | $109,042M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares 7-10 Year Treasury Bond ETF (IEF) was the clear favorite this week, attracting an incredible $2.56 billion in new capital. On the flip side, the Vanguard Intermediate-Term Corporate Bond ETF (VCIT) saw the largest redemptions with outflows of $1.71 billion, followed closely by the iShares Core Total USD Bond Market ETF (IUSB), which shed $1.10 billion.
| Inflows | ||
| IEF | iShares 7-10 Year Treasury Bond ETF | $2,559M |
| TLH | iShares 10-20 Year Treasury Bond ETF | $831M |
| USHY | iShares Broad USD High Yield Corporate Bond ETF | $533M |
| BINC | iShares Flexible Income Active ETF | $527M |
| BND | Vanguard Total Bond Market ETF | $514M |
| Outflows | ||
| TIP | iShares TIPS Bond ETF | ($179M) |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | ($576M) |
| TLT | iShares 20+ Year Treasury Bond ETF | ($635M) |
| IUSB | iShares Core Total USD Bond Market ETF | ($1,097M) |
| VCIT | Vanguard Intermediate-Term Corporate Bond ETF | ($1,711M) |
Issuer League Table Update
The issuer landscape continues to be led by iShares and Vanguard, which command 38.57% and 26.53% of the market share, respectively. This week, iShares dominated asset gathering, pulling in a substantial $3.0 billion in inflows. Among the top issuers, Vanguard experienced the largest outflows for the week, with redemptions totaling $436 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 80 | $734.94B | 38.57% |
| Vanguard | 28 | $505.51B | 26.53% |
| SPDR | 36 | $160.17B | 8.41% |
| JPMorgan | 17 | $66.06B | 3.47% |
| Schwab | 12 | $65.16B | 3.42% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| iShares | $2,995M |
| SPDR | $635M |
| JPMorgan | $486M |
| Outflows | |
| AB Funds | ($57M) |
| WisdomTree | ($154M) |
| Vanguard | ($436M) |
For a deeper dive into these trends, access our FREE, in-depth Thematic 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.
