Rieger Report®: Bond ETF Fund Flows

Bond ETF Fund Flows: As of November 12, 2020

Bond ETFs regains some assets as the RO/RO rotation flips back to risk-on. Total assets under management now at $1,049million.

  • Net bond ETF flows are a positive $180billion year-to-date
  • Broad based, investment grade bond ETFs see 30-day inflows of over $8billion but that has slowed from over $12billion seen in September and $9.7billion seen in October.
  • “Risk-on” shift can be seen in the tidal flows back into junk bonds. High yield bond ETFs lost over $4.8billion in assets in October that has turned a positive $1.67billion in the last 30 days.
  • Assets in municipal bond ETFs have also seen an uptick. Their total 30-day cash inflows rose to $1.87billion and the total assets in municipal ETFs has now reached over $60billion.

Winners year-to-date:

  • Investment grade corporate bond ETFs saw inflows of over $58.68billion year-to-date
  • Broad based bond ETFs have attracted over $56billion
  • High yield corporate bond ETFs have seen inflows of over $18.4billion

Laggards year-to-date:

  • Senior loan (Bank Loan) floating rate funds have seen outflows of $2.6billion
  • Long U.S. Treasury bond ETFs have seen net positive inflows of $200million for the year-to-date

Source: ETF Action. Data as 11/13/2020.

Bond ETF Assets Under Management


Source: ETF Action. Table is provided for illustrative purposes only.  Past performance is not a guarantee of future results. (1) Not all ETFs or asset classes represented here. (2) Excluding floating rate. FactSet classifications are used.  Data as 11/13/2020.

Data Resources Used in this Report:

Analyst Disclosure:

  • At the time of this writing, JR Rieger’s fixed income related holdings include various investment grade & high yield municipal bonds, insured municipal bonds, municipal bond money market funds and a position in the VanEck Vectors High-Yield Municipal Index ETF (HYD).

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