Weekly Channel Summary
The FI: Specialty channel continues to demonstrate significant scale, currently housing $66B in total assets across 127 ETFs and 15 unique issuers. Investor activity has been robust as the channel gathered $0.49B in net new money over the past five days. This contributing momentum brings the Year-to-Date (YTD) flow total to $2.06B, while the one-year trailing flow figure stands at an impressive $22.46B, highlighting the sustained demand for specialty fixed income strategies.
This Week’s Performance Leaders and Laggards
Performance across specialty categories was mixed but generally positive this week. The Fixed Income: Specialty – Maturing Ladder category emerged as the top performer with a Week-to-Date (WTD) return of 0.08%, maintaining a solid YTD gain of 0.35%. Conversely, the Fixed Income: Specialty – Defined Maturity category lagged its peers with a modest 0.07% return for the week, though it remains up 0.31% for the year.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Fixed Income: Specialty – Maturing Ladder | 0.08% | 0.46% | -0.78% | 3.47% | 0.35% | 5.83% |
| Fixed Income: Specialty – Defined Maturity | 0.07% | 0.47% | 0.64% | 3.36% | 0.31% | 6.71% |
| Fixed Income: Specialty – Interest Rate Volatility | -0.01% | -0.47% | -0.11% | -3.03% | 0.08% | -2.25% |
Top & Bottom 5 ETFs by Weekly Performance
At the fund level, the FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) led the way with a WTD return of 0.37%. On the other end of the spectrum, the Simplify Interest Rate Hedge ETF (PFIX) struggled significantly, falling -1.10% over the last week. Other laggards included the Invesco BulletShares 2035 Municipal Bond ETF (BSMZ), which saw a decline of -0.33%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| RISR | FolioBeyond Alternative Income and Interest Rate Hedge ETF | 0.37% |
| LIBD | LifeX 2065 Inflation-Protected Longevity Income ETF | 0.28% |
| HYKE | Vest 2 Year Interest Rate Hedge ETF | 0.27% |
| CPII | American Beacon lonic Inflation Protection ETF | 0.27% |
| IBIL | iShares iBonds Oct 2035 Term TIPS ETF | 0.23% |
| Bottom Performers | ||
| PFIX | Simplify Interest Rate Hedge ETF | -1.10% |
| BSMZ | Invesco BulletShares 2035 Municipal Bond ETF | -0.33% |
| BSMY | Invesco BulletShares 2034 Municipal Bond ETF | -0.25% |
| MUND | Northern Trust 2055 Tax-Exempt Distributing Ladder ETF | -0.24% |
| BSSX | Invesco BulletShares 2033 Municipal Bond ETF | -0.20% |
Analyzing the Weekly Flows
Total net flows for the FI: Specialty channel reached $488M this past week. The Specialty – Defined Maturity category dominated the landscape, attracting $507M in fresh capital, which bolstered its massive AUM to $65.4B. On the other hand, the Specialty – Interest Rate Volatility category experienced the largest pullback, with outflows of -$20M during the 5-day period.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Specialty – Defined Maturity | 91 | $65.4B | $507M | $3,148M | $8,422M | $2,080M | $22,523M |
| Fixed Income: Specialty – Maturing Ladder | 20 | $0.1B | $1M | $1M | -$48M | $0M | -$167M |
| Specialty – Interest Rate Volatility | 10 | $0.9B | -$20M | -$64M | $19M | -$29M | $97M |
Top & Bottom 5 ETFs by 5-Day Flow
The Invesco BulletShares 2027 Corporate Bond ETF (BSCR) led all funds with $47M in weekly inflows. Conversely, the Simplify Bond Bull ETF (RFIX) and the iShares iBonds Dec 2033 Term Treasury ETF (IBTO) saw the most significant withdrawals, losing -$30M and -$27M, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| BSCR | Invesco BulletShares 2027 Corporate Bond ETF | $47M |
| BSCS | Invesco BulletShares 2028 Corporate Bond ETF | $46M |
| BSCZ | Invesco BulletShares 2035 Corporate Bond ETF | $31M |
| BSCT | Invesco BulletShares 2029 Corporate Bond ETF | $31M |
| IBTK | iShares iBonds Dec 2030 Term Treasury ETF | $30M |
| Outflows | ||
| RFIX | Simplify Bond Bull ETF | -$30M |
| IBTO | iShares iBonds Dec 2033 Term Treasury ETF | -$27M |
| BSCQ | Invesco BulletShares 2026 Corporate Bond ETF | -$23M |
| BSJQ | Invesco BulletShares 2026 High Yield Corp Bond ETF | -$16M |
| IBHF | iShares iBonds 2026 Term High Yield and Income ETF | -$8M |
Issuer League Table Update
BlackRock’s iShares and Invesco continue to dominate the specialty fixed income landscape, collectively controlling over 98% of the channel’s market share. Invesco led the week in flows, gathering $255M across its suite, while iShares followed closely with $228M. Simplify saw the most significant weekly outflows among major brands, losing -$30M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 47 | $38.42B | 57.86% |
| Invesco | 28 | $26.66B | 40.15% |
| Quadratic | 1 | $0.48B | 0.72% |
| Simplify | 2 | $0.21B | 0.32% |
| State Street | 14 | $0.19B | 0.29% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Invesco | $255M |
| iShares | $228M |
| State Street | $23M |
| Outflows | |
| Simplify | -$30M |
| Stone Ridge | $0M |
| ProShares | $0M |
For a deeper dive into these trends, access our FREE, in-depth FI: Specialty 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.
