Weekly Channel Summary
The FI: Municipal ETF channel currently oversees $196.2 billion in total assets across 137 ETFs, managed by 48 unique issuers. Over the past five days, the channel attracted $338 million in net new money. This recent positive momentum brings the year-to-date net flows to $11.02 billion and the 1-year trailing flows to a substantial $46.43 billion.
This Week’s Performance Leaders and Laggards
Municipal ETFs saw broadly negative returns this week, with the Short category exhibiting the most resilience, dropping just -0.21% WTD while maintaining a positive 0.27% YTD return. On the other end of the spectrum, the High Yield category was the most significant laggard, falling -0.68% for the week and slipping to -0.56% YTD.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Short | -0.21% | -0.81% | 0.35% | 0.99% | 0.27% | 3.51% |
| Single State | -0.48% | -2.45% | -0.37% | 1.19% | -0.52% | 3.94% |
| Long | -0.50% | -2.81% | -0.49% | 1.33% | -0.64% | 3.97% |
| Intermediate | -0.54% | -2.50% | -0.36% | 1.19% | -0.49% | 4.80% |
| High Yield | -0.68% | -2.90% | -0.28% | 1.12% | -0.56% | 3.50% |
Top & Bottom 5 ETFs by Weekly Performance
Among individual funds, the F/m Ultrashort Tax-Free Municipal ETF (ZMUN) led the pack with a 0.04% WTD gain. Conversely, the VanEck CEF Muni Income ETF (XMPT) and the Rareview Tax Advantaged Income ETF (RTAI) suffered the steepest declines, shedding -2.18% and -2.06%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| ZMUN | F/m Ultrashort Tax-Free Municipal ETF | 0.04% |
| PVI | Invesco Floating Rate Municipal Income ETF | 0.04% |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | 0.02% |
| AMUN | Abrdn Ultra Short Muncipal Income Active ETF | 0.00% |
| FUMB | First Trust Ultra Short Duration Municipal ETF | -0.01% |
| Bottom Performers | ||
| XMPT | VanEck CEF Muni Income ETF | -2.18% |
| RTAI | Rareview Tax Advantaged Income ETF | -2.06% |
| MFLX | First Trust Flexible Municipal High Income ETF | -0.73% |
| MUNX | AMG GW&K Muni Income ETF | -0.73% |
| SCNM | Sterling Capital National Municipal Bond ETF | -0.73% |
Analyzing the Weekly Flows
The Municipal ETF channel accumulated $338 million in net inflows this week. The Credit: Blend category led the asset gathering, pulling in $331 million to reach $53.2 billion in total AUM. The Duration: Short category also saw healthy interest with $215 million in new assets. Conversely, the Credit: High Yield segment faced notable headwinds, bleeding -$165 million in net outflows over the 5-day period.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Credit: Blend | 69 | $53.2B | $331M | $1,498M | $6,898M | $6,450M | $25,266M |
| Duration: Short | 27 | $31.8B | $215M | $652M | $1,876M | $1,714M | $9,685M |
| Credit: Investment Grade | 47 | $127.8B | $172M | $2,632M | $4,460M | $4,178M | $16,782M |
| Duration: Long | 10 | $7.5B | $126M | $1,590M | $2,120M | $2,097M | $2,730M |
| Duration: Intermediate | 99 | $156.9B | -$3M | $1,297M | $7,822M | $7,209M | $34,014M |
| Credit: High Yield | 20 | $15.2B | -$165M | -$592M | $461M | $393M | $4,381M |
Top & Bottom 5 ETFs by 5-Day Flow
The Vanguard Tax-Exempt Bond ETF (VTEB) commanded the highest individual inflows, attracting $118 million. On the outflow side, the iShares National Muni Bond ETF (MUB) and the iShares High Yield Muni Active ETF (HIMU) saw the largest redemptions, losing $234 million and $94 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $118M |
| CGMU | Capital Group Municipal Income ETF | $105M |
| SUB | iShares Short-Term National Muni Bond ETF | $69M |
| PZA | Invesco National AMT-Free Municipal Bond ETF | $54M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $51M |
| Outflows | ||
| MUB | iShares National Muni Bond ETF | -$234M |
| HIMU | iShares High Yield Muni Active ETF | -$94M |
| HYMB | State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | -$50M |
| HYD | VanEck High Yield Muni ETF | -$48M |
| SCMB | Schwab Municipal Bond ETF | -$36M |
Issuer League Table Update
iShares and Vanguard continue to dominate the Municipal ETF landscape, holding 32.89% and 24.94% of the market share, respectively. Vanguard successfully gathered the most weekly inflows, adding $160 million to its asset base, while top-ranked iShares experienced the most significant outflows, shedding $181 million over the past five days.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $64.55B | 32.89% |
| Vanguard | 8 | $48.93B | 24.94% |
| JPMorgan | 4 | $14.03B | 7.15% |
| Capital Group | 3 | $9.40B | 4.79% |
| SPDR | 5 | $9.37B | 4.77% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $160M |
| Capital Group | $131M |
| JPMorgan | $106M |
| Outflows | |
| iShares | -$181M |
| Schwab | -$36M |
| VanEck | -$27M |
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.
