Weekly Channel Summary
The FI: Municipal ETF channel encompasses $212.50 billion in total assets under management across 134 products managed by 48 distinct issuers. This past week, the segment attracted solid investor interest with $1.36 billion in net inflows. This activity builds upon an already strong trajectory, pushing Year-to-Date (YTD) flows to $24.57 billion and 1-Year flows to an impressive $54.30 billion.
This Week’s Performance Leaders and Laggards
Looking at Week-to-Date (WTD) returns, the Long category led the broader channel with a 0.23% gain, bolstering its YTD performance to 2.13%. Conversely, the High Yield category lagged the peer group with a marginal 0.01% advance, though it still maintains a strong 2.52% return YTD.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long | 0.23% | 0.82% | 0.79% | 2.47% | 2.13% | 8.55% |
| Single State | 0.17% | 0.64% | 0.44% | 2.05% | 1.68% | 6.68% |
| Intermediate | 0.15% | 0.62% | 0.23% | 1.90% | 1.56% | 6.78% |
| Short | 0.09% | 0.33% | 0.22% | 1.38% | 1.08% | 3.61% |
| High Yield | 0.01% | 0.81% | 0.87% | 2.85% | 2.52% | 7.92% |
Top & Bottom 5 ETFs by Weekly Performance
At the individual fund level, the iShares High Yield Muni Active ETF (HIMU) secured the top spot this week, returning 0.43%. On the other end of the spectrum, the Rareview Tax Advantaged Income ETF (RTAI) and the Amplify Municipal CEF High Income ETF (YYYM) were the weakest performers, posting declines of -1.05% and -0.95%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| HIMU | iShares High Yield Muni Active ETF | 0.43% |
| PMIO | PGIM Municipal Income Opportunities ETF | 0.41% |
| MUST | Columbia Multi-Sector Municipal Income ETF | 0.34% |
| PWZ | Invesco California AMT-Free Municipal Bond ETF | 0.29% |
| RMOP | Rockefeller Opportunistic Municipal Bond ETF | 0.27% |
| Bottom Performers | ||
| RTAI | Rareview Tax Advantaged Income ETF | -1.05% |
| YYYM | Amplify Municipal CEF High Income ETF | -0.95% |
| XMPT | VanEck CEF Muni Income ETF | -0.94% |
| BAB | Invesco Taxable Municipal Bond ETF | -0.25% |
| ZTAX | X-Square Municipal Income ETF | -0.12% |
Analyzing the Weekly Flows
The channel observed a total net inflow of $1.36 billion over the last five trading days. The Duration: Intermediate category commanded the lion’s share of this capital, bringing in $1.07 billion to push its total AUM to $170.7 billion. Duration: Short also experienced meaningful activity with $280 million in new assets. Impressively, no major duration category saw aggregate outflows this week, with Duration: Long taking in a more modest $12 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 97 | $170.7B | $1,067M | $6,220M | $12,304M | $18,505M | $41,681M |
| Duration: Short | 27 | $33.5B | $280M | $1,202M | $2,186M | $3,389M | $9,227M |
| Duration: Long | 10 | $8.2B | $12M | $277M | $2,159M | $2,680M | $3,388M |
Top & Bottom 5 ETFs by 5-Day Flow
The Vanguard Tax-Exempt Bond ETF (VTEB) paced the field in capital gathering, taking in $315 million over the past week. Meanwhile, the State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) and the AB New York Intermediate Municipal ETF (NYM) experienced the most significant redemptions, shedding $14 million and $8 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $315M |
| MUB | iShares National Muni Bond ETF | $278M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $127M |
| HYD | VanEck High Yield Muni ETF | $94M |
| JMUB | JPMorgan Municipal ETF | $58M |
| Outflows | ||
| TFI | State Street SPDR Nuveen ICE Municipal Bond ETF | -$14M |
| NYM | AB New York Intermediate Municipal ETF | -$8M |
| MMIT | NYLI MacKay Muni Intermediate ETF | -$7M |
| BAB | Invesco Taxable Municipal Bond ETF | -$7M |
| HTAB | Hartford Schroders Tax-Aware Bond ETF | -$6M |
Issuer League Table Update
The municipal space continues to be heavily concentrated at the top, with iShares and Vanguard controlling 32.54% and 25.55% of the channel’s AUM, respectively. Vanguard led the issuer pack in immediate asset gathering with an impressive $468 million in weekly inflows, followed closely by iShares. Conversely, SPDR faced the steepest outflows among top brands, shedding $9 million over the trailing 5 days.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $69.15B | 32.54% |
| Vanguard | 8 | $54.29B | 25.55% |
| JPMorgan | 4 | $14.96B | 7.04% |
| Capital Group | 3 | $10.46B | 4.92% |
| SPDR | 4 | $9.52B | 4.48% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $468M |
| iShares | $353M |
| JPMorgan | $188M |
| Outflows | |
| SPDR | -$9M |
| New York Life Investments | -$4M |
| BNY Mellon | -$2M |
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.
