Weekly Channel Summary
The Municipal ETF channel, encompassing 139 funds from 49 issuers, holds a total of $222.87 billion in assets under management. This week, the channel attracted $935 million in net new assets. These recent inflows contribute to a year-to-date total of $36,328 million and a one-year total of $59,248 million.
This Week’s Performance Leaders and Laggards
Municipal bond ETF performance was largely flat to slightly negative this week, with shorter-duration funds outperforming. The Municipal – Short category was the only group to post a gain, rising 0.03%. In contrast, the Municipal – Long category experienced the largest decline, falling 0.17% for the week. On a year-to-date basis, Municipal – High Yield remains the top-performing category with a return of 2.27%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Municipal – Short | 0.03% | 0.14% | 0.66% | 0.35% | 1.24% | 2.34% |
| Municipal – Single State | -0.01% | -0.61% | 0.40% | -0.36% | 1.03% | 5.36% |
| Municipal – Intermediate | -0.06% | -0.71% | 0.19% | -0.55% | 0.87% | 5.11% |
| Municipal – High Yield | -0.07% | -0.87% | 0.76% | 0.93% | 2.27% | 7.47% |
| Municipal – Long | -0.17% | -1.26% | 0.15% | 0.08% | 1.48% | 7.72% |
Top & Bottom 5 ETFs by Weekly Performance
Among individual funds, the Amplify Municipal CEF High Income ETF (YYYM) was the week’s top performer, gaining 0.67%. The Rareview Tax Advantaged Income ETF (RTAI) also posted a strong return of 0.65%. At the other end of the spectrum, the Invesco New York AMT-Free Municipal Bond ETF (PZT) registered the largest loss for the week, declining by 0.56%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| YYYM | Amplify Municipal CEF High Income ETF | 0.67% |
| RTAI | Rareview Tax Advantaged Income ETF | 0.65% |
| FMUN | Fidelity Systematic Municipal Bond Index ETF | 0.54% |
| XMPT | VanEck CEF Muni Income ETF | 0.53% |
| APMU | ActivePassive Intermediate Municipal Bond ETF | 0.28% |
| Bottom Performers | ||
| PZT | Invesco New York AMT-Free Municipal Bond ETF | -0.56% |
| RVNU | Xtrackers Municipal Infrastructure Revenue Bond Active ETF | -0.38% |
| HMOP | Hartford Municipal Opportunities ETF | -0.30% |
| MLN | VanEck Long Muni ETF | -0.26% |
| HIMU | iShares High Yield Muni Active ETF | -0.23% |
Analyzing the Weekly Flows
Investors continued to allocate capital to municipal bond ETFs, adding a net $935 million over the past week. All five municipal categories recorded net inflows, demonstrating broad demand across the asset class. The Municipal – Intermediate category led the way, attracting $368 million, followed by the Municipal – Short category which gathered $206 million in new assets.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Municipal – Intermediate | 57 | $145.37B | $368M | $3,459M | $10,456M | $21,260M | $34,634M |
| Municipal – Short | 25 | $34.22B | $206M | $636M | $2,799M | $4,973M | $8,811M |
| Municipal – Single State | 29 | $18.58B | $196M | $530M | $2,274M | $4,549M | $6,063M |
| Municipal – High Yield | 19 | $17.41B | $120M | $594M | $1,790M | $2,685M | $6,423M |
| Municipal – Long | 9 | $7.29B | $44M | $35M | $389M | $2,862M | $3,317M |
Top & Bottom 5 ETFs by 5-Day Flow
The Vanguard Tax-Exempt Bond ETF (VTEB) was the most popular fund this week, pulling in $211 million in net new assets. In contrast, redemptions were led by the State Street SPDR Nuveen ICE Municipal Bond ETF (TFI), which saw outflows of $45 million. The iShares National Muni Bond ETF (MUB) also experienced net redemptions, shedding $11 million over the period.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $211M |
| SUB | iShares Short-Term National Muni Bond ETF | $80M |
| VTEC | Vanguard California Tax-Exempt Bond ETF | $72M |
| HYMB | State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | $65M |
| CGMU | Capital Group Municipal Income ETF | $36M |
| Outflows | ||
| TFI | State Street SPDR Nuveen ICE Municipal Bond ETF | -$45M |
| MUB | iShares National Muni Bond ETF | -$11M |
| BAB | Invesco Taxable Municipal Bond ETF | -$11M |
| TAXI | Northern Trust Intermediate Tax-Exempt Bond ETF | -$5M |
| CAM | AB California Intermediate Municipal ETF | -$5M |
Issuer League Table Update
iShares and Vanguard continue to dominate the municipal ETF landscape, commanding 31.72% and 25.77% of the market share, respectively. This week, Vanguard was the leading asset gatherer, attracting $325 million in net inflows across its fund lineup. On the other side of the ledger, Northern Trust experienced the largest net outflows among issuers, with redemptions totaling $4 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $70.70B | 31.72% |
| Vanguard | 8 | $57.42B | 25.77% |
| JPMorgan | 6 | $17.31B | 7.77% |
| Capital Group | 3 | $11.49B | 5.16% |
| SPDR | 4 | $10.02B | 4.49% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $325M |
| iShares | $196M |
| AB Funds | $63M |
| Outflows | |
| Northern Trust | -$4M |
| BNY Mellon | -$1M |
| Nomura | -$1M |
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.
