Weekly Channel Summary
The Municipal channel ended the week with $179B in assets across 131 ETFs from 46 issuers. The space saw strong demand, gathering $1.13B in net inflows over the past 5 days, pushing Year-to-Date flows to $34.08B and the 1-year total to $35.06B.
This Week’s Performance Leaders and Laggards
High Yield was the standout category this week, delivering the top return of 0.25%, while Short was the laggard with a 0.10% gain. Despite the weekly variance, both categories remain solidly positive for the year, with High Yield up 3.90% and Short up 3.60% YTD.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| High Yield | 0.25% | 0.29% | 4.53% | 5.16% | 3.90% | 1.98% |
| Intermediate | 0.19% | 0.29% | 3.58% | 5.18% | 4.54% | 3.19% |
| Long | 0.18% | 0.21% | 5.27% | 6.14% | 2.28% | 0.56% |
| Single State | 0.17% | 0.31% | 3.90% | 4.89% | 3.20% | 2.06% |
| Short | 0.10% | 0.24% | 0.81% | 2.33% | 3.60% | 3.45% |
Top & Bottom 5 ETFs by Weekly Performance
The OVM (Overlay Shares Municipal Bond ETF) took the top spot this week, significantly outperforming peers. On the downside, the MUST (Columbia Multi-Sector Municipal Income ETF) and PVI (Invesco Floating Rate Municipal Income ETF) lagged the broad market with minimal gains.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| OVM | Overlay Shares Municipal Bond ETF | 1.32% |
| XMPT | VanEck CEF Muni Income ETF | 0.85% |
| RTAI | Rareview Tax Advantaged Income ETF | 0.76% |
| NMB | Simplify National Muni Bond ETF | 0.40% |
| MINN | Mairs & Power Minnesota Municipal Bond ETF | 0.24% |
| Bottom Performers | ||
| MUST | Columbia Multi-Sector Municipal Income ETF | 0.05% |
| PVI | Invesco Floating Rate Municipal Income ETF | 0.05% |
| FUMB | First Trust Ultra Short Duration Municipal ETF | 0.06% |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | 0.06% |
| PUSH | PGIM Ultra Short Municipal Bond ETF | 0.06% |
Analyzing the Weekly Flows
The channel attracted a robust $1.13B in net inflows this week. The Intermediate category led the way with $934M in new assets, holding the largest AUM at $119.5B. Short duration funds also saw healthy interest with $172M in inflows. Outflows were negligible across the space, with only isolated funds seeing minor net withdrawals.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Intermediate | 94 | $145.1B | $934M | $3,856M | $12,079M | $26,157M | $26,847M |
| Short | 25 | $28.2B | $172M | $830M | $2,176M | $7,479M | $7,781M |
| High Yield | 19 | $14.4B | $119M | $377M | $1,222M | $4,266M | $4,271M |
| Single State | 28 | $13.3B | $87M | $280M | $1,344M | $2,811M | $3,155M |
| Long | 9 | $5.4B | $19M | -$60M | $429M | $435M | $423M |
Top & Bottom 5 ETFs by 5-Day Flow
The VTEB (Vanguard Tax-Exempt Bond ETF) dominated inflows this week, adding $388M. Outflows were rare, with FUMB (First Trust Ultra Short Duration Municipal ETF) being the only significant outlier on the negative side.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $388M |
| JMUB | JPMorgan Municipal ETF | $86M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $74M |
| CGMU | Capital Group Municipal Income ETF | $54M |
| HIMU | iShares High Yield Muni Active ETF | $41M |
| Outflows | ||
| FUMB | First Trust Ultra Short Duration Municipal ETF | -$1M |
| – | Avantis Core Municipal Bond ETF | $0M |
| – | Xtrackers Municipal Infrastructure Revenue Bond ETF | $0M |
| – | MFS High Yield Municipal Bond ETF | $0M |
| – | Nuveen Short-Term Innovative Municipal Bond ETF | $0M |
Issuer League Table Update
iShares and Vanguard continue to lead the channel, holding 33.97% and 26.48% market share respectively. Vanguard gathered the most weekly inflows with $474M. No major top issuers saw net outflows this week, with VanEck seeing the lowest activity at $0M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $60.76B | 33.97% |
| Vanguard | 8 | $47.35B | 26.48% |
| JPMorgan | 4 | $12.39B | 6.93% |
| SPDR | 5 | $9.44B | 5.28% |
| Capital Group | 3 | $7.90B | 4.42% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $474M |
| JPMorgan | $160M |
| iShares | $114M |
| Outflows | |
| VanEck | $0M |
| AB Funds | $15M |
| Invesco | $19M |
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.
