Weekly Channel Summary
The Taxable bond ETF channel encompasses 715 funds from 147 issuers, with total assets under management reaching $2.33 trillion. Investors added a strong $13.24 billion to the channel this week, contributing to a year-to-date net inflow of $345.61 billion. Over the past year, the channel has accumulated $527.42 billion in new assets.
This Week’s Performance Leaders and Laggards
Convertible bond ETFs led performance in the taxable space this week, posting a strong 2.26% gain. This category has been a standout performer throughout the year, now up 18.01% year-to-date. On the other end of the spectrum, Government Ultrashort funds were the laggards with a modest 0.08% weekly return.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Taxable – Convertible | 2.26% | -0.13% | -0.15% | 11.53% | 18.01% | 26.35% |
| Taxable – Emerging | 1.44% | 1.44% | 1.94% | 1.02% | 3.18% | 8.07% |
| Taxable – Emerging USD | 1.07% | -0.23% | 0.53% | 1.11% | 2.01% | 7.26% |
| Taxable – International | 1.02% | 1.67% | -0.72% | -1.35% | 0.03% | 0.48% |
| Taxable – Long-Term | 0.99% | -1.52% | -1.73% | -2.48% | -1.59% | 0.55% |
| Taxable – Government Long | 0.86% | -1.14% | -1.60% | -2.42% | -1.91% | -0.19% |
| Taxable – Preferred Stock | 0.80% | 0.39% | -0.82% | 0.10% | 1.81% | 4.75% |
| Taxable – Securitized | 0.68% | -0.20% | -0.22% | -0.16% | 0.53% | 3.94% |
| Taxable – High Yield | 0.67% | 0.30% | 1.24% | 1.69% | 2.42% | 5.56% |
| Taxable – Corporate | 0.63% | -0.34% | -0.30% | -0.62% | -0.04% | 2.56% |
| Taxable – Core Enhanced | 0.62% | -0.24% | -0.20% | -0.35% | 0.28% | 2.88% |
| Taxable – International USD | 0.61% | 0.11% | 0.50% | 0.30% | 0.98% | 1.56% |
| Taxable – Multisector | 0.60% | 0.14% | 0.77% | 0.94% | 1.71% | 4.63% |
| Taxable – Core | 0.58% | -0.25% | -0.32% | -0.52% | 0.02% | 2.41% |
| Municipal – Single State | 0.54% | 0.30% | — | — | — | — |
| Taxable – Bank Loans | 0.48% | 0.83% | 1.18% | 2.48% | 1.94% | 4.57% |
| Taxable – Government Intermediate | 0.46% | -0.03% | -0.28% | -0.59% | -0.30% | 1.63% |
| Taxable – Short-Term | 0.32% | 0.30% | 0.54% | 0.64% | 1.14% | 3.29% |
| Taxable – Government Short | 0.23% | 0.37% | 0.52% | 0.66% | 0.99% | 2.82% |
| Taxable – Inflation Protected | 0.16% | -0.09% | -0.31% | 0.73% | 1.32% | 2.43% |
| Taxable – Ultrashort | 0.12% | 0.37% | 1.04% | 1.88% | 2.38% | 4.39% |
| Taxable – Government Ultrashort | 0.08% | 0.34% | 0.94% | 1.81% | 2.19% | 3.86% |
Top & Bottom 5 ETFs by Weekly Performance
The Virtus Private Credit Strategy ETF (VPC) was the week’s top-performing taxable bond fund, surging by 6.53%. Following far behind but also posting strong returns was the VanEck Preferred Securities ex Financials ETF (PFXF), which gained 3.07%. Conversely, the Regan Fixed Rate MBS ETF (MBSX) experienced the largest decline, falling 3.26% for the week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| VPC | Virtus Private Credit Strategy ETF | 6.53% |
| PFXF | VanEck Preferred Securities ex Financials ETF | 3.07% |
| FCVT | First Trust SSI Strategic Convertible Securities ETF | 2.87% |
| MCVT | Miller Convertible Total Return ETF | 2.66% |
| ICVT | iShares Convertible Bond ETF | 2.31% |
| Bottom Performers | ||
| MBSX | Regan Fixed Rate MBS ETF | -3.26% |
| TFFI | Chesapeake Trend-Following Fixed Income ETF | -0.94% |
| PSK | State Street SPDR ICE Preferred Securities ETF | -0.43% |
| PCPI | PIMCO Inflation PLUS Active ETF | -0.21% |
| AGZD | WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund | -0.15% |
Analyzing the Weekly Flows
Taxable bond ETFs attracted a substantial $13.24 billion in net inflows over the week. Investor demand was concentrated in Intermediate-duration funds, which gathered $7.13 billion, and Ultrashort-duration funds, which added $5.70 billion. In a notable divergence, Long-duration products faced significant redemptions, shedding $1.42 billion.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Multi-Sector | 300 | $977.73B | $5,583M | $22,273M | $71,250M | $154,799M | $244,400M |
| Government | 130 | $722.77B | $3,694M | $12,373M | $40,003M | $118,775M | $175,087M |
| Corporate | 158 | $411.96B | $2,521M | $4,401M | $26,606M | $47,672M | $75,419M |
| Bank Loans | 49 | $70.10B | $1,184M | $2,729M | $7,124M | $13,268M | $16,247M |
| Securitized | 46 | $108.40B | $323M | $867M | $4,368M | $8,227M | $11,807M |
| Cat Bonds | 1 | $84M | $2M | $6M | $5M | $50M | $74M |
| Preferred Stock | 30 | $43.25B | -$67M | $1,002M | $2,184M | $2,816M | $4,390M |
Flows by Credit Type
| Credit Type | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Credit: Investment Grade | 369 | $1,862.42B | $8,858M | $31,719M | $111,864M | $273,138M | $407,837M |
| Credit: High Yield | 153 | $197.91B | $2,527M | $3,756M | $12,388M | $14,281M | $26,468M |
| Credit: Blend | 188 | $273.63B | $1,848M | $8,117M | $27,132M | $57,984M | $92,810M |
| Specialty: Interest Rate Volatility | 1 | $88M | $0M | $23M | $67M | $69M | $69M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 412 | $1,336.97B | $7,133M | $20,691M | $87,275M | $183,081M | $297,649M |
| Duration: Ultrashort | 146 | $496.31B | $5,697M | $14,368M | $43,189M | $116,775M | $148,353M |
| Duration: Short | 91 | $306.76B | $1,826M | $5,608M | $17,633M | $41,246M | $61,883M |
| Duration: Long | 62 | $194.01B | -$1,423M | $2,947M | $3,355M | $4,371M | $19,300M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares 0-3 Month Treasury Bond ETF (SGOV) led all taxable funds, pulling in an impressive $1.98 billion. Meanwhile, the iShares 20+ Year Treasury Bond ETF (TLT) experienced the week’s largest outflows, with investors withdrawing $1.29 billion. The State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) also saw significant redemptions, losing $489 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SGOV | iShares 0-3 Month Treasury Bond ETF | $1,981M |
| BND | Vanguard Total Bond Market ETF | $731M |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | $722M |
| JAAA | Janus Henderson AAA CLO ETF | $679M |
| IQMM | ProShares GENIUS Money Market ETF | $632M |
| Outflows | ||
| TLT | iShares 20+ Year Treasury Bond ETF | -$1,289M |
| BIL | State Street SPDR Bloomberg 1-3 Month T-Bill ETF | -$489M |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -$231M |
| CLIP | Global X 1-3 Month T-Bill ETF | -$181M |
| DFCF | Dimensional Core Fixed Income ETF | -$157M |
Note: the following fund(s) were excluded from the flow totals above because the weekly flow exceeds 75% of the fund’s AUM and may be the result of a custom rebalance: CPAG (-$144M).
Issuer League Table Update
iShares and Vanguard continue to dominate the taxable bond ETF landscape, commanding 36.28% and 26.21% of the market share, respectively. This week, iShares also led the league table for inflows, attracting $4.57 billion in new assets. On the other side of the ledger, Global X recorded the largest net outflows among issuers, with redemptions totaling $197 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 88 | $846.91B | 36.28% |
| Vanguard | 31 | $611.94B | 26.21% |
| SPDR | 36 | $174.35B | 7.47% |
| JPMorgan | 20 | $96.93B | 4.15% |
| Schwab | 12 | $78.07B | 3.34% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| iShares | $4,567M |
| Vanguard | $2,970M |
| Janus Henderson | $716M |
| Outflows | |
| Global X | -$197M |
| F/m | -$55M |
| Invesco | -$40M |
For a deeper dive into these trends, access our FREE, in-depth Taxable 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.
