Interest Rate Volatility Funds Lead Fixed Income: Specialty Performance

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Weekly Channel Summary

The FI: Specialty channel, composed of 14 issuers and 128 ETFs, currently holds $67.6B in total assets under management. This past week, the channel saw net inflows of $216M, contributing to a year-to-date (YTD) inflow of $13.88B. Over the past year, the channel has gathered $18.18B in new assets.

This Week’s Performance Leaders and Laggards

This week, “Fixed Income: Specialty – Interest Rate Volatility” was the best-performing category with a WTD return of 0.12%, though it remains down -1.41% YTD. The worst-performing category was “Fixed Income: Specialty – Maturing Ladder,” which posted a WTD return of -0.18%, though it holds a strong 6.43% return year-to-date.

Category Performance Snapshot

Category WTD 1 Month 3 Month 6 Month YTD 1 Year
Fixed Income: Specialty – Interest Rate Volatility 0.12% -0.50% -1.74% -2.27% -1.41% 1.81%
Fixed Income: Specialty – Defined Maturity -0.01% 0.23% 1.58% 3.75% 5.74% 5.67%
Fixed Income: Specialty – Maturing Ladder -0.18% 0.44% 2.49% 3.82% 6.43% 3.99%

Top & Bottom 5 ETFs by Weekly Performance

The single best-performing ETF this week was the Simplify Interest Rate Hedge ETF (PFIX), which gained 1.42%. The worst-performing ETFs were the LifeX 2065 Inflation-Protected Longevity Income ETF (LIBD), down -0.81%, and the LifeX 2060 Inflation-Protected Longevity Income ETF (LIAU), down -0.67%.

Ticker Fund Name WTD Performance
Top Performers
PFIX Simplify Interest Rate Hedge ETF 1.42%
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF 0.68%
RFIX Simplify Bond Bull ETF 0.45%
IVOL KraneShares Quadratic Interest Rate Volatility and Inflation Hedge ETF 0.26%
IBTL iShares iBonds Dec 2031 Term Treasury ETF 0.21%
Bottom Performers
LIBD LifeX 2065 Inflation-Protected Longevity Income ETF -0.81%
LIAU LifeX 2060 Inflation-Protected Longevity Income ETF -0.67%
HYKE Vest 2 Year Interest Rate Hedge ETF -0.64%
BNDD Quadratic Deflation ETF -0.62%
LIAM LifeX 2055 Inflation-Protected Longevity Income ETF -0.55%

Analyzing the Weekly Flows

The channel attracted $216M in total net flows this week. The “Specialty Defined Maturity” category led the way, gathering $290M in new assets; this category now holds $66.5B in total AUM. The largest outflows came from the “Fixed Income: Specialty – Maturing Ladder” category, which saw $40M exit.

Category Flows Summary

Category Fund Count AUM 5 Day 30 Day 90 Day YTD 1 Year
Specialty Defined Maturity 98 $66.5B $290M $1,273M $4,493M $13,638M $17,986M
Specialty – Interest Rate Volatility 10 $0.9B -$34M -$3M $105M $143M $97M
Fixed Income: Specialty – Maturing Ladder 20 $0.2B -$40M -$35M -$128M $101M $102M

Top & Bottom 5 ETFs by 5-Day Flow

At the fund level, the iShares iBonds Dec 2027 Term Treasury ETF (IBTH) led inflows, pulling in $42M. The largest outflows were seen in the iShares iBonds Dec 2025 Term Corporate ETF (IBDQ), which shed $74M, and the Invesco Bulletshares 2025 Corporate Bond ETF (BSCP), which saw $59M in outflows.

Ticker Fund Name 5-Day Flow
Inflows
IBTH iShares iBonds Dec 2027 Term Treasury ETF $42M
IBDT iShares iBonds Dec 2028 Term Corporate ETF $41M
IBDU iShares iBonds Dec 2029 Term Corporate ETF $37M
BSCS Invesco BulletShares 2028 Corporate Bond ETF $37M
IBDR iShares iBonds Dec 2026 Term Corporate ETF $33M
Outflows
IBDQ iShares iBonds Dec 2025 Term Corporate ETF -$74M
BSCP Invesco Bulletshares 2025 Corporate Bond ETF -$59M
IBTF iShares iBonds Dec 2025 Term Treasury ETF -$44M
LDDR LifeX 2035 Income Bucket ETF -$40M
IVOL KraneShares Quadratic Interest Rate Volatility and Inflation Hedge ETF -$28M

Issuer League Table Update

The FI: Specialty channel remains concentrated, with iShares (57.12% market share) and Invesco (40.91% market share) dominating the space. This week, iShares also led in asset gathering, with $210M in inflows. Stone Ridge saw the largest weekly outflows, totaling $40M.

Top 5 Issuers by AUM

Brand Fund Count AUM AUM Market Share
iShares 51 $38.62B 57.12%
Invesco 31 $27.66B 40.91%
Quadratic 1 $0.43B 0.64%
Simplify 2 $0.27B 0.41%
SPDR 16 $0.22B 0.33%

Top & Bottom 3 Issuers by 5-Day Flow

Brand 5-Day Flow
Inflows
iShares $210M
Invesco $79M
SPDR $1M
Outflows
Stone Ridge -$40M
Quadratic -$28M
FolioBeyond -$5M

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.