Weekly Channel Summary
The taxable fixed income ETF channel remains a massive pillar of the market, ending the week with approximately $2.017 trillion in total Assets Under Management (AUM) across 655 ETFs and 136 unique issuers. Flow activity continues to show robust momentum; the channel attracted $9.46 billion in net new money this past week, bringing Year-to-Date (YTD) inflows to an impressive $369.19 billion. Over the past year, investors have allocated a total of $370.75 billion to the space, underscoring a sustained preference for taxable bond strategies in the current interest rate environment.
This Week’s Performance Leaders and Laggards
Fixed income performance was generally positive this week, led by the Government Long category which returned 0.53% Week-to-Date (WTD). Other strong performers included Long-Term bonds and Emerging USD debt. Conversely, the International segment was the primary laggard, posting a WTD return of -0.21%. Despite the slight weekly dip for international bonds, the category remains a top performer for the year with a YTD return of 10.98%, while Government Long bonds have returned 5.49% over the same period.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Government Long | 0.53% | -0.69% | -0.09% | 3.91% | 5.49% | 5.22% |
| Long-Term | 0.40% | 0.30% | -0.07% | 5.19% | 7.54% | 7.48% |
| Emerging USD | 0.36% | 0.87% | 2.67% | 8.16% | 12.31% | 12.33% |
| Securitized | 0.35% | 0.66% | 1.35% | 4.60% | 7.82% | 8.15% |
| Core | 0.33% | 0.45% | 0.90% | 4.11% | 7.03% | 7.25% |
| Core Enhanced | 0.33% | 0.51% | 0.88% | 4.32% | 7.30% | 7.52% |
| Government Intermediate | 0.32% | 0.32% | 0.85% | 3.59% | 7.24% | 7.55% |
| Emerging | 0.30% | 1.02% | 1.94% | 6.52% | 13.43% | 13.43% |
| Corporate | 0.28% | 0.59% | 0.50% | 4.35% | 7.57% | 7.78% |
| Multisector Taxable | 0.27% | 0.75% | 0.81% | 4.17% | 6.89% | 7.22% |
| Preferred Stock | 0.26% | 1.34% | -0.23% | 5.62% | 6.40% | 6.44% |
| High Yield | 0.20% | 1.14% | 0.72% | 4.49% | 7.86% | 8.21% |
| Short-Term | 0.20% | 0.56% | 1.04% | 3.25% | 6.15% | 6.43% |
| Government Short | 0.18% | 0.47% | 1.00% | 2.70% | 5.29% | 5.58% |
| Convertible | 0.16% | 2.44% | -1.39% | 9.85% | 22.36% | 21.57% |
| Ultrashort | 0.11% | 0.47% | 1.15% | 2.76% | 5.06% | 5.26% |
| Government Ultrashort | 0.08% | 0.39% | 1.00% | 2.14% | 4.11% | 4.29% |
| International USD | 0.05% | -0.21% | 0.42% | 1.22% | 2.98% | 3.08% |
| Bank Loans | 0.04% | 0.70% | 0.73% | 2.79% | 4.89% | 5.24% |
| Inflation Protected | 0.02% | -0.04% | -0.19% | 2.80% | 6.60% | 6.93% |
| International | -0.21% | 1.01% | -0.37% | 1.33% | 10.98% | 10.81% |
Top & Bottom 5 ETFs by Weekly Performance
At the individual fund level, the CVRT (Calamos Convertible Equity Alternative ETF) was the top performer this week with a gain of 1.36%. Conversely, the most significant weekly laggards were the DADS (Digital Asset Debt Strategy ETF) and VPC (Virtus Private Credit Strategy ETF), which dropped -1.77% and -1.31%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| CVRT | Calamos Convertible Equity Alternative ETF | 1.36% |
| TYA | Simplify Intermediate Term Treasury Futures Strategy ETF | 0.89% |
| CRDT | Simplify Opportunistic Income ETF | 0.79% |
| AGGH | Simplify Aggregate Bond ETF | 0.64% |
| EDV | Vanguard Extended Duration Treasury ETF | 0.60% |
| Bottom Performers | ||
| DADS | Digital Asset Debt Strategy ETF | -1.77% |
| VPC | Virtus Private Credit Strategy ETF | -1.31% |
| BMAX | REX Bitcoin Corporate Treasury Convertible Bond ETF | -1.17% |
| BWX | SPDR Bloomberg International Treasury Bond ETF | -0.37% |
| FXED | Sound Enhanced Fixed Income ETF | -0.37% |
Analyzing the Weekly Flows
The taxable ETF channel generated $9.46 billion in total net inflows this week. Analysis by exposure reveals that the Multi-Sector segment led the way for inflows, followed by Government and Corporate bonds. By credit quality, Investment Grade strategies were the clear favorite among investors, while Duration Intermediate funds gathered the most assets relative to other maturities. On the negative side, the FI: Bank Loans segment was the largest laggard, experiencing weekly outflows of $183 million.
Flows by Segment
| Segment | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| FI: Multi-Sector | 269 | $831.1B | $5,478M | $20,366M | $59,891M | $176,768M | $181,613M |
| FI: Government | 115 | $613.2B | $2,011M | $10,212M | $37,736M | $115,876M | $116,755M |
| FI: Corporate | 164 | $374.4B | $1,736M | $5,448M | $19,857M | $45,475M | $40,945M |
| FI: Securitized | 37 | $101.4B | $348M | $788M | $303M | $17,696M | $17,867M |
| FI: Preferred Stock | 24 | $39.9B | $67M | $221M | $772M | $1,998M | $2,029M |
| FI: Cat Bonds | 1 | $0.0B | $2M | $10M | $18M | $29M | $29M |
| FI: Bank Loans | 36 | $57.2B | ($183M) | ($172M) | ($202M) | $11,350M | $11,514M |
Flows by Credit Type
| Credit Type | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Credit: Investment Grade | 334 | $1,614.1B | $5,863M | $21,246M | $83,699M | $279,276M | $281,956M |
| Credit: Blend | 161 | $216.5B | $2,145M | $9,670M | $24,778M | $63,599M | $63,945M |
| Credit: High Yield | 150 | $186.5B | $1,446M | $5,938M | $9,791M | $26,210M | $24,745M |
Flows by Duration
| Duration | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Duration: Intermediate | 387 | $1,175.6B | $7,066M | $25,622M | $76,178M | $210,979M | $209,517M |
| Duration: Short | 82 | $266.2B | $1,134M | $3,525M | $13,636M | $40,067M | $41,701M |
| Duration: Ultrashort | 120 | $379.6B | $1,045M | $7,187M | $18,872M | $104,421M | $108,580M |
| Duration: Long | 56 | $195.7B | $210M | $520M | $9,582M | $13,619M | $10,848M |
Top & Bottom 5 ETFs by 5-Day Flow
Individual fund flow activity was headlined by the JBND (JPMorgan Active Bond ETF), which saw the largest net inflow of $952 million over the past five days. In contrast, heavy selling was concentrated in long-duration Treasuries and investment grade corporates, with the TLT (iShares 20+ Year Treasury Bond ETF) and LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) losing -$631 million and -$509 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| JBND | JPMorgan Active Bond ETF | $952M |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | $780M |
| SGOV | iShares 0-3 Month Treasury Bond ETF | $684M |
| BND | Vanguard Total Bond Market ETF | $578M |
| IEF | iShares 7-10 Year Treasury Bond ETF | $520M |
| Outflows | ||
| TLT | iShares 20+ Year Treasury Bond ETF | ($631M) |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | ($509M) |
| SRLN | State Street Blackstone Senior Loan ETF | ($302M) |
| JAAA | Janus Henderson AAA CLO ETF | ($182M) |
| BBAG | JPMorgan BetaBuilders U.S. Aggregate Bond ETF | ($123M) |
Issuer League Table Update
The issuer landscape is dominated by iShares and Vanguard, which combined control nearly 65% of the total market share for taxable ETFs. This past week, Vanguard outpaced all other brands with $2.58 billion in weekly inflows. Among the top-tier issuers, Janus Henderson saw the most significant net outflows, with investors pulling $157 million from the brand’s products during the period.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 83 | $769.13B | 38.12% |
| Vanguard | 29 | $535.74B | 26.56% |
| SPDR | 39 | $163.06B | 8.08% |
| JPMorgan | 18 | $74.85B | 3.71% |
| Schwab | 12 | $69.29B | 3.43% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Vanguard | $2,579M |
| iShares | $1,616M |
| JPMorgan | $1,266M |
| Outflows | |
| Transamerica | ($2,211M) |
| Janus Henderson | ($157M) |
| WisdomTree | ($65M) |
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.
