Weekly Channel Summary
The Municipal ETF channel tracks 131 funds across 46 issuers, managing a total of $179B in assets. Over the past week, the channel gathered $580M in net inflows. Year-to-date, the space has seen robust demand with $34.66B in net inflows, contributing to a 1-year total of $34.73B.
This Week’s Performance Leaders and Laggards
Performance across Municipal categories was mixed this week, with the Short category leading the pack as the only segment to post a positive return of 0.03%. Conversely, the Long category lagged, declining by -0.32% for the week. On a year-to-date basis, Short duration funds remain solid performers with a 3.62% return, while Long duration funds have posted a 1.88% return.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Short | 0.03% | 0.27% | 0.61% | 2.23% | 3.62% | 3.32% |
| Intermediate | -0.17% | 0.18% | 2.54% | 4.90% | 4.36% | 2.68% |
| High Yield | -0.19% | 0.16% | 3.10% | 5.03% | 3.77% | 1.82% |
| Single State | -0.27% | 0.10% | 2.72% | 4.66% | 2.94% | 1.52% |
| Long | -0.32% | -0.04% | 3.66% | 5.89% | 1.88% | -0.18% |
Top & Bottom 5 ETFs by Weekly Performance
The top-performing fund this week was the RTAI, posting a gain of 0.72%. On the other side of the ledger, the RMCA and NMB struggled the most, declining by -0.81% and -0.79% respectively.
| Top Performers | ||
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| RTAI | Rareview Tax Advantaged Income ETF | 0.72% |
| XMPT | VanEck CEF Muni Income ETF | 0.52% |
| TAXI | Northern Trust Intermediate Tax-Exempt Bond ETF | 0.22% |
| ZMUN | F/m Ultrashort Tax-Free Municipal ETF | 0.07% |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | 0.06% |
| Bottom Performers | ||
| RMCA | Rockefeller California Municipal Bond ETF | -0.81% |
| NMB | Simplify National Muni Bond ETF | -0.79% |
| FTMH | Franklin Municipal High Yield ETF | -0.51% |
| HIMU | iShares High Yield Muni Active ETF | -0.51% |
| RMOP | Rockefeller Opportunistic Municipal Bond ETF | -0.47% |
Analyzing the Weekly Flows
The channel attracted $580M in net inflows this week. The Intermediate category led the way, pulling in $421M into a segment with $119.4B in assets. The Short category also saw healthy demand with $74M in inflows, while the Long category experienced the largest withdrawals, seeing outflows of $6M.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Intermediate | 52 | $119.4B | $421M | $1,908M | $9,505M | $19,664M | $19,394M |
| Short | 23 | $27.4B | $74M | $735M | $2,027M | $7,171M | $7,353M |
| Single State | 28 | $13.3B | $49M | $1,517M | $978M | $2,948M | $3,162M |
| High Yield | 17 | $14.2B | $42M | $351M | $1,201M | $4,377M | $4,321M |
| Long | 8 | $4.4B | ($6M) | ($69M) | $498M | $494M | $332M |
Top & Bottom 5 ETFs by 5-Day Flow
The VTEB dominated inflows this week, gathering the largest share of new assets. In contrast, the TFI and PZA saw the most significant outflows.
| Inflows | ||
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| VTEB | Vanguard Tax-Exempt Bond ETF | $259M |
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | $30M |
| CMF | iShares California Muni Bond ETF | $29M |
| SCMB | Schwab Municipal Bond ETF | $23M |
| HYD | VanEck High Yield Muni ETF | $23M |
| Outflows | ||
| TFI | State Street SPDR Nuveen ICE Municipal Bond ETF | ($18M) |
| PZA | Invesco National AMT-Free Municipal Bond ETF | ($12M) |
| NYM | AB New York Intermediate Municipal ETF | ($6M) |
| FTNY | Franklin New York Municipal Income ETF | ($4M) |
| FTCA | Franklin California Municipal Income ETF | ($4M) |
Issuer League Table Update
iShares and Vanguard continue to dominate the landscape, holding the top two spots by market share. Vanguard gathered the most in weekly inflows with $356M, while SPDR saw the largest outflows among top issuers, shedding $18M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $60.64B | 33.91% |
| Vanguard | 8 | $47.51B | 26.57% |
| JPMorgan | 4 | $12.39B | 6.93% |
| SPDR | 5 | $9.38B | 5.25% |
| Capital Group | 3 | $7.90B | 4.42% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| Brand | 5-Day Flow |
|---|---|
| Vanguard | $356M |
| iShares | $60M |
| JPMorgan | $43M |
| Outflows | |
| SPDR | ($18M) |
| AB Funds | ($6M) |
| First Trust | ($3M) |
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.
