Weekly Channel Summary
The FI: Municipal ETF channel currently oversees $203.3 billion in Assets Under Management (AUM) across 137 ETFs from 48 unique issuers. Over the past week, the space gathered $1.32 billion in net new money. This builds on a strong trajectory, with Year-to-Date (YTD) flows sitting at $15.15 billion and 1-Year flows reaching an impressive $49.11 billion.
This Week’s Performance Leaders and Laggards
Looking at Week-to-Date (WTD) returns, the Long duration category led the pack, edging out a 0.10% gain and maintaining a solid 1.65% YTD profile. Conversely, the High Yield segment was the sole detractor for the week, dipping by -0.02%, despite continuing to boast the strongest YTD return at 1.78%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long | 0.10% | 2.28% | 1.39% | 1.66% | 1.65% | 7.88% |
| Single State | 0.09% | 1.80% | 0.88% | 1.54% | 1.29% | 6.82% |
| Intermediate | 0.05% | 1.61% | 0.64% | 1.50% | 1.16% | 7.29% |
| Short | 0.01% | 0.53% | 0.39% | 1.37% | 0.82% | 4.25% |
| High Yield | -0.02% | 2.22% | 1.27% | 2.02% | 1.78% | 8.01% |
Top & Bottom 5 ETFs by Weekly Performance
On an individual fund level, the THYM (T. Rowe Price High Income Municipal ETF) secured the top spot for the week, advancing 0.20%. On the other end of the spectrum, the XMPT (VanEck CEF Muni Income ETF) and RTAI (Rareview Tax Advantaged Income ETF) faced the steepest declines, shedding -0.68% and -0.65%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| THYM | T. Rowe Price High Income Municipal ETF | 0.20% |
| FTMH | Franklin Municipal High Yield ETF | 0.20% |
| RMCA | Rockefeller California Municipal Bond ETF | 0.17% |
| HTAX | Nomura National High-Yield Municipal Bond ETF | 0.16% |
| PZT | Invesco New York AMT-Free Municipal Bond ETF | 0.15% |
| Bottom Performers | ||
| XMPT | VanEck CEF Muni Income ETF | -0.68% |
| RTAI | Rareview Tax Advantaged Income ETF | -0.65% |
| YYYM | Amplify Municipal CEF High Income ETF | -0.57% |
| SHM | State Street SPDR Nuveen ICE Short Term Municipal Bond ETF | -0.06% |
| GENM | Genter Capital Municipal Quality Intermediate ETF | -0.04% |
Analyzing the Weekly Flows
The FI: Municipal channel saw robust overall inflows totaling $1.32 billion over the past five days. The Intermediate category commanded the lion’s share of this capital, taking in $871 million to bring its total AUM to $134.3 billion. The High Yield segment also saw meaningful interest with $130 million in new money. Notably, no major category experienced aggregate weekly outflows, showcasing broad demand across municipal bond implementations.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Intermediate | 56 | $134.3B | $871M | $3,336M | $5,835M | $8,723M | $28,762M |
| High Yield | 19 | $15.3B | $130M | -$3M | -$46M | $504M | $4,827M |
| Short | 25 | $31.1B | $127M | $326M | $1,667M | $1,795M | $8,525M |
| Single State | 28 | $15.7B | $127M | $418M | $1,390M | $1,816M | $4,073M |
| Long | 9 | $6.8B | $61M | $267M | $2,315M | $2,316M | $2,926M |
Top & Bottom 5 ETFs by 5-Day Flow
Flow activity at the fund level highlights a strong preference for core allocations. The VTEB (Vanguard Tax-Exempt Bond ETF) led all peers with $381 million in weekly inflows. Meanwhile, the TAFI (AB Tax-Aware Short Duration Municipal ETF) and JMST (JPMorgan Ultra-Short Municipal Income ETF) experienced the heaviest redemptions, losing -$21 million and -$20 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $381M |
| MUB | iShares National Muni Bond ETF | $171M |
| SUB | iShares Short-Term National Muni Bond ETF | $96M |
| CGMU | Capital Group Municipal Income ETF | $59M |
| HYD | VanEck High Yield Muni ETF | $56M |
| Outflows | ||
| TAFI | AB Tax-Aware Short Duration Municipal ETF | -$21M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | -$20M |
| FLMI | Franklin Dynamic Municipal Bond ETF | -$18M |
| BMOP | BNY Mellon Municipal Opportunities ETF | -$10M |
| NYM | AB New York Intermediate Municipal ETF | -$6M |
Issuer League Table Update
The top two issuers in the Municipal ETF space, iShares and Vanguard, maintain a dominant grip on the market, holding a 32.76% and 25.07% market share, respectively. Vanguard emerged as the weekly flow leader, gathering $537 million in net new assets, while BNY Mellon faced the largest headwinds, seeing outflows of -$11 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $66.58B | 32.76% |
| Vanguard | 8 | $50.95B | 25.07% |
| JPMorgan | 4 | $14.27B | 7.02% |
| Capital Group | 3 | $9.85B | 4.84% |
| SPDR | 5 | $9.46B | 4.66% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $537M |
| iShares | $358M |
| Capital Group | $97M |
| Outflows | |
| BNY Mellon | -$11M |
| AB Funds | -$10M |
| Franklin | -$5M |
For a deeper dive into these trends, access our FREE, in-depth Municipal 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.
