Weekly Channel Summary
The Taxable Bond ETF channel, encompassing 714 funds from 147 issuers, holds approximately $2.32 trillion in total assets. Investors added a net $6.6 billion to the channel over the past week. This brings year-to-date net inflows to a robust $332.6 billion and the one-year total to $525.4 billion.
This Week’s Performance Leaders and Laggards
International taxable bond categories led performance this week, returning 1.34% as a group. Conversely, long-duration government bond funds struggled, posting the weakest results with an average loss of -0.78%. Despite a minor weekly dip, Convertible bond ETFs remain the clear leader on a year-to-date basis, up an impressive 15.43%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Taxable – International | 1.34% | 0.28% | -1.44% | -2.57% | -0.99% | 1.48% |
| Taxable – Emerging | 0.96% | 0.25% | 1.26% | 0.06% | 1.72% | 8.33% |
| Taxable – Preferred Stock | 0.54% | -0.03% | -1.19% | -0.79% | 0.98% | 3.91% |
| Taxable – High Yield | 0.32% | -0.13% | 0.48% | 1.11% | 1.74% | 5.22% |
| Taxable – Multisector | 0.21% | -0.47% | 0.43% | 0.52% | 1.10% | 4.64% |
| Taxable – Short-Term | 0.18% | -0.09% | 0.27% | 0.47% | 0.81% | 3.54% |
| Taxable – Government Short | 0.16% | 0.14% | 0.30% | 0.55% | 0.77% | 3.08% |
| Taxable – Ultrashort | 0.12% | 0.33% | 1.02% | 1.84% | 2.26% | 4.43% |
| Taxable – Inflation Protected | 0.09% | -0.26% | -0.54% | 0.61% | 1.15% | 2.96% |
| Taxable – Bank Loans | 0.08% | 0.63% | 1.03% | 1.84% | 1.45% | 4.18% |
| Taxable – Corporate | 0.08% | -1.45% | -0.76% | -0.95% | -0.68% | 2.82% |
| Taxable – Government Ultrashort | 0.08% | 0.35% | 0.93% | 1.81% | 2.11% | 3.87% |
| Taxable – Emerging USD | 0.02% | -1.47% | -0.01% | 0.55% | 0.93% | 7.17% |
| Taxable – Government Intermediate | 0.00% | -0.85% | -0.67% | -0.75% | -0.76% | 2.02% |
| Taxable – International USD | -0.04% | -1.09% | 0.17% | -0.13% | 0.37% | 1.35% |
| Taxable – Core Enhanced | -0.06% | -1.26% | -0.65% | -0.64% | -0.34% | 3.11% |
| Taxable – Core | -0.08% | -1.27% | -0.74% | -0.78% | -0.56% | 2.69% |
| Taxable – Convertible | -0.11% | -6.28% | 0.93% | 9.99% | 15.43% | 23.23% |
| Taxable – Securitized | -0.17% | -1.21% | -0.76% | -0.59% | -0.16% | 4.25% |
| Municipal – Single State | -0.24% | -0.16% | — | — | — | — |
| Taxable – Long-Term | -0.43% | -3.82% | -2.19% | -2.92% | -2.56% | 0.83% |
| Taxable – Government Long | -0.78% | -3.27% | -2.17% | -2.61% | -2.75% | 0.11% |
Top & Bottom 5 ETFs by Weekly Performance
The week’s performance divergence was evident at the fund level, with international bond ETFs claiming the top spots. The State Street SPDR Bloomberg Short Term International Treasury Bond ETF (BWZ) was the best performer, gaining 2.11%. At the other end of the spectrum, long-duration US Treasury funds faced significant headwinds, with the PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund (ZROZ) falling -2.81%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| BWZ | State Street SPDR Bloomberg Short Term International Treasury Bond ETF | 2.11% |
| ELD | WisdomTree Emerging Markets Local Debt Fund | 1.68% |
| WIP | State Street SPDR FTSE International Government Inflation-Protected Bond ETF | 1.62% |
| ISHG | iShares 1-3 Year International Treasury Bond ETF | 1.53% |
| VPC | Virtus Private Credit Strategy ETF | 1.51% |
| Bottom Performers | ||
| ZROZ | PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund | -2.81% |
| DWWN | Principal Long Duration ETF | -2.63% |
| GOVZ | iShares 25+ Year Treasury STRIPS Bond ETF | -2.58% |
| EDV | Vanguard Extended Duration Treasury ETF | -2.33% |
| MBSX | Regan Fixed Rate MBS ETF | -1.84% |
Analyzing the Weekly Flows
Investors directed a net $6.6 billion into taxable bond ETFs over the week, continuing a strong year of inflows. Multi-Sector funds were the most popular segment, attracting over $4.2 billion in new assets. From a credit perspective, Investment Grade strategies dominated, pulling in nearly $5.0 billion, while Intermediate and Ultrashort duration funds collectively gathered over $5.1 billion.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Multi-Sector | 300 | $973.78B | $4,216M | $23,379M | $71,522M | $149,489M | $243,264M |
| Corporate | 158 | $409.37B | $1,226M | $5,914M | $25,567M | $45,151M | $77,031M |
| Government | 130 | $720.82B | $619M | $12,837M | $37,416M | $115,044M | $173,409M |
| Bank Loans | 49 | $69.57B | $302M | $2,330M | $6,922M | $12,084M | $15,613M |
| Securitized | 46 | $108.22B | $216M | $921M | $4,333M | $7,904M | $11,562M |
| Cat Bonds | 1 | $82M | $1M | $5M | $7M | $48M | $72M |
| Preferred Stock | 30 | $43.01B | -$17M | $1,183M | $2,298M | $2,883M | $4,401M |
Flows by Credit Type
| Credit Type | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Credit: Investment Grade | 369 | $1,857.87B | $4,980M | $36,247M | $109,160M | $264,517M | $407,685M |
| Credit: Blend | 188 | $271.68B | $1,041M | $8,029M | $26,968M | $56,137M | $92,098M |
| Credit: High Yield | 153 | $194.96B | $529M | $2,234M | $11,777M | $11,754M | $25,268M |
| Specialty: Interest Rate Volatility | 1 | $89M | $1M | $24M | $67M | $69M | $69M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 413 | $1,331.45B | $2,690M | $22,803M | $84,714M | $176,226M | $295,231M |
| Duration: Ultrashort | 146 | $493.71B | $2,463M | $11,738M | $40,644M | $111,042M | $148,026M |
| Duration: Short | 90 | $305.11B | $1,240M | $5,452M | $17,737M | $39,415M | $62,597M |
| Duration: Long | 62 | $194.33B | $158M | $6,542M | $4,878M | $5,794M | $19,266M |
Top & Bottom 5 ETFs by 5-Day Flow
The iShares iBoxx $ High Yield Corporate Bond ETF (HYG) led all funds with a substantial $1.22 billion inflow, indicating strong tactical interest in the high yield space. However, this was countered by significant redemptions from other major credit funds. The iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) experienced the largest outflow at $991 million, followed by the iShares Broad USD High Yield Corporate Bond ETF (USHY), which shed $598 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | $1,220M |
| BND | Vanguard Total Bond Market ETF | $471M |
| VCSH | Vanguard Short-Term Corporate Bond ETF | $370M |
| PULS | PGIM Ultra Short Bond ETF | $330M |
| VCIT | Vanguard Intermediate-Term Corporate Bond ETF | $326M |
| Outflows | ||
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -$991M |
| USHY | iShares Broad USD High Yield Corporate Bond ETF | -$598M |
| TLT | iShares 20+ Year Treasury Bond ETF | -$531M |
| IQMM | ProShares GENIUS Money Market ETF | -$475M |
| IEI | iShares 3-7 Year Treasury Bond ETF | -$349M |
Issuer League Table Update
iShares and Vanguard continue to dominate the taxable bond landscape, commanding 36.31% and 26.27% of the market share, respectively. This week, Vanguard was the clear winner in asset gathering, attracting nearly $2.3 billion in net new money. In contrast, ProShares saw the largest net redemptions at $469 million, while market leader iShares also finished the week with net outflows totaling $387 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 88 | $844.09B | 36.31% |
| Vanguard | 31 | $610.63B | 26.27% |
| SPDR | 36 | $172.76B | 7.43% |
| JPMorgan | 20 | $96.51B | 4.15% |
| Schwab | 12 | $78.12B | 3.36% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $2,297M |
| JPMorgan | $746M |
| SPDR | $538M |
| Outflows | |
| ProShares | -$469M |
| iShares | -$387M |
| Simplify | -$110M |
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.
