Weekly Channel Summary
The FI: Municipal ETF channel finished the week with a total AUM of $160 billion across 111 ETFs from 42 different issuers. The channel saw significant positive flows, attracting $1.96 billion over the past week. This brings the year-to-date net inflows to an impressive $20.63 billion, contributing to a total of $28.55 billion in new assets over the past year.
This Week’s Performance Leaders and Laggards
This week, the Long duration category led the pack with a notable 1.93% return, though it remains relatively flat year-to-date at 0.47%. On the other end of the spectrum, the Short duration category was the primary laggard with a modest 0.32% weekly return; however, it maintains a strong YTD performance of 3.45%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long | 1.93% | 3.52% | 3.66% | 1.04% | 0.47% | -0.49% |
| High Yield | 1.76% | 3.12% | 3.21% | 1.15% | 2.41% | 1.16% |
| Single State | 1.37% | 2.41% | 3.06% | 1.58% | 1.63% | 1.05% |
| Intermediate | 1.26% | 2.31% | 3.23% | 2.56% | 2.97% | 2.22% |
| Short | 0.32% | 0.70% | 1.91% | 2.53% | 3.45% | 3.62% |
Top & Bottom 5 ETFs by Weekly Performance
The standout performer this week was the Simplify National Muni Bond ETF (NMB), which posted a stellar 3.37% return. On the flip side, the Invesco Floating Rate Municipal Income ETF (PVI) and the Goldman Sachs Ultra Short Municipal Income ETF (GUMI) were the week’s worst performers, with returns of just 0.04% and 0.10%, respectively.
| Top Performers | ||
| NMB | Simplify National Muni Bond ETF | 3.37% |
| RTAI | Rareview Tax Advantaged Income ETF | 3.19% |
| XMPT | VanEck CEF Muni Income ETF | 2.70% |
| HTAX | Macquarie National High-Yield Municipal Bond ETF | 2.44% |
| PWZ | Invesco California AMT-Free Municipal Bond ETF | 2.25% |
| Bottom Performers | ||
| AUSM | Allspring Ultra Short Municipal ETF | 0.18% |
| PUSH | PGIM Ultra Short Municipal Bond ETF | 0.17% |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | 0.14% |
| FUMB | First Trust Ultra Short Duration Municipal ETF | 0.12% |
| GUMI | Goldman Sachs Ultra Short Municipal Income ETF | 0.10% |
| PVI | Invesco Floating Rate Municipal Income ETF | 0.04% |
Analyzing the Weekly Flows
The FI: Municipal channel experienced a strong week of inflows, gathering a total of $1.96 billion in new assets. The Intermediate category was the clear winner, pulling in over $1.28 billion. This category now holds a commanding $109.4 billion in AUM. The Short duration category also saw significant interest with $387 million in new assets. The only category to experience outflows was Hartford, which saw a minor outflow of $11 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Intermediate | 47 | $109.4B | $1,281M | $3,035M | $6,229M | $11,411M | $17,201M |
| Short | 21 | $25.7B | $387M | $788M | $2,171M | $5,484M | $6,122M |
| High Yield | 16 | $12.5B | $135M | $2,080M | $2,494M | $2,012M | $2,327M |
| Single State | 19 | $8.2B | $111M | $264M | $655M | $1,525M | $2,474M |
| Long | 8 | $4.1B | $45M | $127M | $288M | $203M | $421M |
Top & Bottom 5 ETFs by 5-Day Flow
The Vanguard Tax-Exempt Bond ETF (VTEB) led all individual ETFs, attracting an impressive $534 million in new money this week. In contrast, the Hartford Schroders Tax-Aware Bond ETF (HTAB) and the Hartford Municipal Opportunities ETF (HMOP) saw the largest outflows, shedding $7 million and $4 million, respectively.
| Inflows | ||
| VTEB | Vanguard Tax-Exempt Bond ETF | $534M |
| MUB | iShares National Muni Bond ETF | $326M |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | $247M |
| JMUB | JPMorgan Municipal ETF | $115M |
| HYD | VanEck High Yield Muni ETF | $97M |
| Outflows | ||
| HTAB | Hartford Schroders Tax-Aware Bond ETF | ($7M) |
| HMOP | Hartford Municipal Opportunities ETF | ($4M) |
| FCAL | First Trust California Municipal High Income ETF | ($2M) |
| FMHI | First Trust Municipal High Income ETF | ($2M) |
| FLMB | Franklin Municipal Green Bond ETF | ($1M) |
Issuer League Table Update
The issuer landscape remains dominated by iShares and Vanguard, who control 36.52% and 27.79% of the market share, respectively. Vanguard had the most successful week, gathering $649 million in inflows. On the other hand, Hartford was the top issuer to see outflows, losing $11 million over the past five days.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 10 | $58.37B | 36.52% |
| Vanguard | 8 | $44.41B | 27.79% |
| SPDR | 5 | $9.51B | 5.95% |
| JPMorgan | 4 | $8.91B | 5.57% |
| Capital Group | 3 | $7.07B | 4.42% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| Vanguard | $649M |
| iShares | $405M |
| JPMorgan | $362M |
| Outflows | |
| Hartford | -$11M |
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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.
