In total, bond ETF assets regained their collection momentum as money moved in at a faster pace.
In aggregate, bond ETF assets now total over $1,141billion.
Broad based, investment grade bond ETFs had April inflows of over $11billion and are the leaders in asset collection year-to-date.
Investor inflation concerns are reflected in the April inflows of $3.9illion into TIPS related ETFs. Year-to-date TIP ETFs have seen $11billion in inflows.
Risk-Off is now Risk-On. April saw junk bond ETFs see inflows of $2.5billion helping reduce their year-to-date deficit to about $660million.
Senior loans, long the “don’t touch this” asset class, have now seen a resurgence as senior loan yields have been attractive relative to fixed rate junk. Senior loan ETFs have seen a $5billion inflow year-to-date and $1.8million in the last 30-days.
Municipal bond ETFs now total over $71billion in assets as the asset class has enjoyed strong demand driven by expectations of higher taxes in the future.
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 4/30/2021.
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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