Beyond the Agg: 3 Strong-Performing Active Fixed Income ETFs

Demand for U.S.-listed actively managed fixed income ETFs remains robust, following the Fed’s renewed rate cutting program. YTD through November 7, active fixed income ETFs have gathered $147 billion in net inflows. For context, this represents a strong 40% of the record $363 billion in net inflows for the entire fixed income ETF category.

The list of popular active fixed income ETFs includes funds offering distinct risk/reward attributes worthy of closer scrutiny. A closer look at a few examples highlights the distinct approaches.

A 40-Year Track Record Tied to a Newly Popular ETF

The Eaton Vance Total Return Bond ETF (EVTR) has gathered $2.6 billion of new money thus far in 2025, bringing its assets to $3.7 billion. The ETF was converted from a mutual fund in March 2024 and crossed the $1 billion mark in less than nine months. The fund’s 40-year track record has been strong, with a since-inception outperformance of the Bloomberg US Aggregate Index (Agg) of 40 basis points (bps). More recently, EVTR’s three-year annualized total return through October of 7.4% was easily ahead of the index’s 5.6%.

EVTR sports a 30-day SEC yield of 4.7%, higher than the Agg’s 4.1%. To achieve this, the fund’s assets are primarily spread across Treasuries (33%), mortgage-backed securities (29%), and investment-grade credit (21%). However, unlike the index, the fund has exposure to high yield bonds (7%). The fund’s recent average duration was 6.0 years.

High Income, Low Duration

The JPMorgan Income ETF (JPIE) pulled in $3.5 billion of net inflows in 2025. The fund just turned four years old and manages $6.1 billion in assets. Since its inception, JPIE’s 3.4% annualized total return was more than 350 bps stronger than the Bloomberg US Aggregate Index.

Relative to EVTR, JPIE sports an even higher 30-day SEC yield of 5.6%. Agency mortgage-backed securities (32% of assets), commercial mortgage-backed securities (14%), asset-backed securities (12%), and high yield corporate bonds (12%) provide the heftiest exposures, as of the end of September. Combined speculative-grade and nonrated bonds represented over 30% of fund assets. The fund’s average duration was 2.26 years.

A Pimco ETF Doubling in Size

The PIMCO Multisector Bond Active ETF (PYLD) demonstrates explosive growth. Launched in June 2023, it now manages $9.1 billion in assets thanks to $6.3 billion of net inflows. Since inception, the fund’s 9.0% annualized total return was approximately double that of the Bloomberg US Aggregate Index.

PYLD offers a 30-day SEC yield of 4.9% and has an average duration of 4.5 years. Securitized debt represented 53% of PYLD’s assets, while investment-grade credit comprised 18%. Much of the remainder is split between developed and emerging markets debt and high yield credit.

Each of these funds has a strong track record relative to the Bloomberg Aggregate index. However, some investment professionals do not think that index is the best one to compare with active managers. VettaFi’s Head of Fixed Income Products Samarth Sanghavi notes that yields tend to dominate the conversation. But it’s the underlying risk, and how effectively it’s measured against the right benchmarks, that truly drives results.