Weekly Channel Summary
The FI: Municipal channel currently tracks 131 ETFs across 46 issuers, with a total AUM of $180B. The channel experienced positive momentum this week, gathering $1.12B in net inflows over the past 5 days. This continues a strong longer-term trend, with Year-to-Date inflows reaching $35.78B and 1-Year net flows totaling $36.05B.
This Week’s Performance Leaders and Laggards
Performance was relatively flat across the board this week, with the Short duration category leading the pack with a modest 0.06% return. On the downside, the High Yield and Long categories were the week’s laggards, both posting returns of -0.04%. Despite the slight dip this week, High Yield remains a strong performer Year-to-Date with a 3.63% return, while the Short category is up 3.68% YTD.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Short | 0.06% | 0.23% | 0.29% | 2.15% | 3.68% | 3.44% |
| Intermediate | 0.00% | -0.03% | 1.25% | 4.55% | 4.27% | 3.29% |
| Single State | -0.02% | -0.13% | 1.26% | 4.34% | 2.90% | 2.02% |
| Long | -0.04% | -0.34% | 1.70% | 5.45% | 2.09% | 0.95% |
| High Yield | -0.04% | -0.17% | 1.33% | 4.58% | 3.63% | 2.16% |
Top & Bottom 5 ETFs by Weekly Performance
Among individual funds, the TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) claimed the top spot with a return of 0.17%. Conversely, the RTAI (Rareview Tax Advantaged Income ETF) and XMPT (VanEck CEF Muni Income ETF) lagged behind, posting losses of -0.52% and -0.50%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| TAXS | Northern Trust Short-Term Tax-Exempt Bond ETF | 0.17% |
| HTAX | Nomura National High-Yield Municipal Bond ETF | 0.16% |
| RJMI | RJ Eagle Municipal Income ETF | 0.14% |
| ZTAX | X-Square Municipal Income ETF | 0.12% |
| INTM | Invesco Intermediate Municipal ETF | 0.11% |
| Bottom Performers | ||
| RTAI | Rareview Tax Advantaged Income ETF | -0.52% |
| XMPT | VanEck CEF Muni Income ETF | -0.50% |
| OVM | Overlay Shares Municipal Bond ETF | -0.21% |
| PWZ | Invesco California AMT-Free Municipal Bond ETF | -0.17% |
| PZT | Invesco New York AMT-Free Municipal Bond ETF | -0.13% |
Analyzing the Weekly Flows
The channel attracted a robust $1,115M in net inflows this week. The Intermediate category, which holds $120.0B in AUM, was the primary beneficiary, pulling in the most capital. The High Yield category also saw significant interest with notable inflows, while the Long category was the only segment to experience net outflows.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Intermediate | 52 | $120.0B | $552M | $1,876M | $8,767M | $19,936M | $19,866M |
| High Yield | 18 | $14.5B | $281M | $604M | $1,362M | $4,591M | $4,553M |
| Short | 24 | $27.6B | $181M | $783M | $1,952M | $7,741M | $7,952M |
| Single State | 28 | $13.4B | $120M | $343M | $1,535M | $3,068M | $3,249M |
| Long | 9 | $4.4B | ($2M) | ($56M) | $390M | $441M | $431M |
Top & Bottom 5 ETFs by 5-Day Flow
The HYD (VanEck High Yield Muni ETF) led all funds in asset gathering. On the other end of the spectrum, the PZA (Invesco National AMT-Free Municipal Bond ETF) and FTCA (Franklin California Municipal Income ETF) saw the most significant outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| HYD | VanEck High Yield Muni ETF | $230M |
| VTEB | Vanguard Tax-Exempt Bond ETF | $147M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $87M |
| JMUB | JPMorgan Municipal ETF | $76M |
| CMF | iShares California Muni Bond ETF | $66M |
| Outflows | ||
| PZA | Invesco National AMT-Free Municipal Bond ETF | ($13M) |
| FTCA | Franklin California Municipal Income ETF | ($10M) |
| FTNY | Franklin New York Municipal Income ETF | ($4M) |
| NYM | AB New York Intermediate Municipal ETF | ($4M) |
| FTMH | Franklin Municipal High Yield ETF | ($3M) |
Issuer League Table Update
iShares and Vanguard continue to dominate the landscape, holding 33.76% and 26.56% of market share, respectively. This week, Vanguard gathered the most in weekly inflows, while AB Funds saw the largest outflows among the top issuers.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $60.74B | 33.76% |
| Vanguard | 8 | $47.78B | 26.56% |
| JPMorgan | 4 | $12.55B | 6.98% |
| SPDR | 5 | $9.41B | 5.23% |
| Capital Group | 3 | $7.95B | 4.42% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $257M |
| VanEck | $242M |
| JPMorgan | $162M |
| Outflows | |
| AB Funds | ($1M) |
| aberdeen | $0M |
| Allspring | $0M |
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.
