In this week’s edition of the ETF Issuer League, Bondbloxx stood out especially among its peers. The fixed income mavens correspondingly leaned almost entirely on just one ETF for the week’s inflows. The Bondbloxx Bloomberg One Year Target Duration U.S. Treasury ETF (XONE ) added $514.3 million over the last week, per VettaFi. However, no other Bondbloxx ETF added more than $2 million.
BondBloxx Makes Moves
The Bondbloxx Bloomberg Six Month Target Duration U.S. Treasury ETF (XHLF ) saw -$253 million altogether over the last week, likely the source of XONE’s flows. And that took BondBloxx’s ETF AUM to $1.46 billion in AUM, e.g. a 20% increase from its $1.2 billion prior to the week.
According to VettaFi, all of the AUM growth owes to fund flows. So the week’s inflows likely stemmed from a single buy given that XONE added $463 million of its inflows on May 5th alone.
The ETF Issuer League Table helps contextualize just how much larger that weekly inflow total is than for Bondbloxx’s peers. By comparison, the next largest inflows moving up the table arrived for the $23.8 billion AUM American Century Investments, adding $517 million for the week. American Century’s Avantis Investors suite continued to show out in flows for the week. The Avantis International Small Cap Value ETF (AVDV ) led with $231 million in that time.
Duration and Yield on the Radar
Speaking of the mid-tier, market watchers may want to keep an eye on the duo of Allianz Investment Management LLC and Northern Trust. The pair are sitting just above the $20 billion ETF AUM threshold, an especially intriguing trend to watch. Allianz saw the larger inflows of the two, emphatically adding $127 million.
Those flows arrived more evenly distributed overall than the flows into XONE and none of the ETFs added more than $30 million. The PIMCO Enhanced Short Maturity Active ETF (MINT ) added $27.7 million over the week, backed up by $24.6 million for the AllianzIM U.S. Large Cap Buffer10 May ETF (MAYT ).
Altogether, the Bondbloxx ETF story and Allianz ETF flows suggest continued interest in short-term yields. Market watchers looking for the right duration should consider following those and American Century’s own fixed income offerings.
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