|  iShares California Muni Bond ETFCMF | $57.38 | 0.06 | +0.11% | $4.47B | Investment grade | Vanilla |
|  VanEck High Yield Muni ETFHYD | $51.36 | -0.02 | -0.04% | $4.44B | High yield | Vanilla |
|  Invesco National AMT-Free Municipal Bond ETFPZA | $23.39 | 0.03 | +0.13% | $4.19B | Investment grade | Vanilla |
|  State Street DoubleLine Total Return Tactical ETFTOTL | $39.42 | 0.03 | +0.08% | $4.16B | Broad credit | Active |
| iShares iBonds Dec 2028 Term Corporate ETFIBDT | $25.23 | 0.01 | +0.04% | $3.94B | Investment grade | Bullet maturity |
| iShares iBonds Dec 2029 Term Corporate ETFIBDU | $23.14 | 0.02 | +0.06% | $3.92B | Investment grade | Bullet maturity |
| State Street SPDR Bloomberg 3-12 Month T-Bill ETFBILS | $99.28 | 0.02 | +0.02% | $3.91B | Investment grade | Vanilla |
|  Schwab Municipal Bond ETFSCMB | $25.69 | 0.03 | +0.12% | $3.87B | Investment grade | Vanilla |
| Invesco Preferred ETFPGX | $10.98 | 0.06 | +0.55% | $3.84B | Broad credit | Vanilla |
|  JPMorgan Limited Duration Bond ETFJPLD | $52.09 | 0.03 | +0.06% | $3.83B | Investment grade | Active |
| iShares iBonds Dec 2027 Term Corporate ETFIBDS | $24.19 | 0.02 | +0.08% | $3.80B | Investment grade | Bullet maturity |
| Invesco BulletShares 2026 Corporate Bond ETFBSCQ | $19.56 | 0.00 | +0.03% | $3.78B | Investment grade | Bullet maturity |
| iShares Intermediate Government/Credit Bond ETFGVI | $106.00 | 0.07 | +0.07% | $3.75B | Investment grade | Vanilla |
|  Vanguard World Funds Extended Duration ETFEDV | $64.11 | -0.14 | -0.22% | $3.73B | Investment grade | Vanilla |
| iShares iBonds Dec 2026 Term Corporate ETFIBDR | $24.21 | 0.00 | 0.00% | $3.57B | Investment grade | Bullet maturity |
| Invesco Ultra Short Duration ETFGSY | $50.24 | 0.01 | +0.02% | $3.55B | Investment grade | Active |
| Invesco BulletShares 2028 Corporate Bond ETFBSCS | $20.43 | 0.02 | +0.07% | $3.50B | Investment grade | Bullet maturity |
|  Xtrackers USD High Yield Corporate Bond ETFHYLB | $36.53 | 0.04 | +0.11% | $3.48B | High yield | Vanilla |
| State Street SPDR Nuveen ICE Short Term Municipal Bond ETFSHM | $47.90 | 0.02 | +0.05% | $3.46B | Investment grade | Vanilla |
|  First Trust Exchange-Traded Fund VIII First Trust Smith Opportunistic Fixed Income ETFFIXD | $43.68 | 0.06 | +0.15% | $3.32B | Broad credit | Active |
|  Janus Henderson Short Duration Income ETFVNLA | $48.99 | 0.02 | +0.04% | $3.29B | Broad credit | Active |
| First Trust Smith Unconstrained Bond ETFUCON | $24.91 | 0.01 | +0.04% | $3.29B | Broad credit | Active |
|  TCW Flexible Income ETFFLXR | $39.17 | 0.05 | +0.12% | $3.24B | Broad credit | Active |
|  Capital Group Municipal High-Income ETFCGHM | $25.75 | 0.03 | +0.12% | $3.11B | Broad credit | Active |
| State Street SPDR Nuveen ICE Municipal Bond ETFTFI | $45.59 | 0.04 | +0.09% | $3.09B | Investment grade | Vanilla |
| iShares iBonds Dec 2030 Term Corporate ETFIBDV | $21.77 | 0.02 | +0.11% | $3.09B | Investment grade | Bullet maturity |
| VanEck Fallen Angel High Yield Bond ETFANGL | $29.18 | 0.06 | +0.21% | $3.06B | High yield | Fundamental |
|  Franklin U.S. Core Bond ETFFLCB | $21.37 | 0.02 | +0.09% | $3.04B | Investment grade | Active |
|  PIMCO Intermediate Municipal Bond Active Exchange-Traded FundMUNI | $52.42 | 0.07 | +0.13% | $3.00B | Investment grade | Active |
| State Street SPDR Nuveen ICE High Yield Municipal Bond ETFHYMB | $25.20 | -0.01 | -0.04% | $2.97B | High yield | Vanilla |
| Invesco Variable Rate Preferred ETFVRP | $24.41 | 0.04 | +0.16% | $2.94B | Broad credit | Vanilla |
| State Street SPDR Bloomberg Investment Grade Floating Rate ETFFLRN | $30.81 | 0.02 | +0.06% | $2.92B | Investment grade | Vanilla |
|  ALPS Smith Core Plus Bond ETFSMTH | $25.77 | 0.02 | +0.08% | $2.83B | Broad credit | Active |
| Invesco BulletShares 2029 Corporate Bond ETFBSCT | $18.63 | 0.00 | +0.03% | $2.82B | Investment grade | Bullet maturity |
| VanEck IG Floating Rate ETFFLTR | $25.57 | 0.04 | +0.16% | $2.77B | Investment grade | Vanilla |
| iShares 10+ Year Investment Grade Corporate Bond ETFIGLB | $49.97 | -0.01 | -0.02% | $2.68B | Investment grade | Vanilla |
| Vanguard California Tax-Exempt Bond ETFVTEC | $100.07 | 0.11 | +0.11% | $2.65B | Investment grade | Vanilla |
|  Victory Portfolios II VictoryShares Core Intermediate Bond ETFUITB | $46.72 | 0.03 | +0.06% | $2.64B | Investment grade | Active |
|  Dimensional Global Core Plus Fixed Income ETFDFGP | $54.74 | 0.07 | +0.12% | $2.60B | Broad credit | Active |
| Schwab High Yield Bond ETFSCYB | $26.21 | 0.05 | +0.21% | $2.60B | High yield | Vanilla |
| Invesco BulletShares 2030 Corporate Bond ETFBSCU | $16.70 | 0.02 | +0.15% | $2.58B | Investment grade | Bullet maturity |
| Invesco Short Term Treasury ETFTBLL | $105.75 | 0.01 | +0.01% | $2.57B | Investment grade | Vanilla |
|  FlexShares iBoxx 3-Year Target Duration TIPS Index FundTDTT | $23.99 | 0.02 | +0.08% | $2.56B | Investment grade | Target duration |
|  Global X 1-3 Month T-Bill ETFCLIP | $100.20 | 0.01 | +0.01% | $2.54B | Investment grade | Vanilla |
| VanEck Preferred Securities ex Financials ETFPFXF | $18.68 | 0.23 | +1.25% | $2.52B | Broad credit | Vanilla |
|  Direxion Daily 20+ Year Treasury Bull 3X ETFTMF | $35.17 | 0.00 | 0.00% | $2.51B | Investment grade | Vanilla |
| First Trust Core Investment Grade ETFFTCB | $20.89 | 0.02 | +0.07% | $2.49B | Investment grade | Active |
|  Virtus InfraCap U.S. Preferred Stock ETFPFFA | $21.32 | 0.21 | +0.99% | $2.43B | Broad credit | Active |
| Xtrackers USD High Yield BB-B ex Financials ETFBHYB | $54.28 | 0.08 | +0.14% | $2.39B | High yield | Vanilla |
| iShares iBonds Dec 2031 Term Corporate ETFIBDW | $20.82 | 0.02 | +0.10% | $2.35B | Investment grade | Bullet maturity |
| Invesco Total Return Bond ETFGTO | $46.97 | 0.05 | +0.11% | $2.34B | Broad credit | Active |
| iShares 0-5 Year Investment Grade Corporate Bond ETFSLQD | $50.30 | 0.00 | +0.01% | $2.34B | Investment grade | Vanilla |
| iShares iBonds Dec 2026 Term Treasury ETFIBTG | $22.86 | 0.00 | -0.02% | $2.31B | Investment grade | Bullet maturity |
| Capital Group Short Duration Income ETFCGSD | $25.80 | 0.02 | +0.08% | $2.31B | Investment grade | Active |
| First Trust Senior Loan Fund ETFFTSL | $44.98 | 0.06 | +0.13% | $2.30B | High yield | Active |
| State Street SPDR Bloomberg Emerging Markets Local Bond ETFEBND | $21.11 | 0.15 | +0.72% | $2.28B | Broad credit | Vanilla |
|  Hartford Total Return Bond ETFHTRB | $33.76 | 0.02 | +0.06% | $2.24B | Broad credit | Active |
| iShares iBonds Dec 2027 Term Treasury ETFIBTH | $22.37 | 0.02 | +0.07% | $2.20B | Investment grade | Bullet maturity |
| Victory Portfolios II VictoryShares Short-Term Bond ETFUSTB | $50.56 | 0.03 | +0.06% | $2.19B | Investment grade | Active |
|  BlackRock ETF Trust II iShares AAA CLO Active ETFCLOA | $51.87 | 0.01 | +0.01% | $2.18B | Investment grade | Active |
| VanEck Intermediate Muni ETFITM | $46.83 | 0.04 | +0.07% | $2.18B | Investment grade | Vanilla |
| Global X U.S. Preferred ETFPFFD | $18.93 | 0.11 | +0.58% | $2.17B | Broad credit | Vanilla |
| Dimensional National Municipal Bond ETFDFNM | $48.30 | 0.04 | +0.09% | $2.17B | Investment grade | Active |
| Franklin Dynamic Municipal Bond ETFFLMI | $25.04 | 0.02 | +0.08% | $2.16B | Broad credit | Active |
| Dimensional Ultrashort Fixed Income ETFDUSB | $50.90 | 0.02 | +0.04% | $2.12B | Investment grade | Active |
|  BNY Mellon Core Bond ETFBKAG | $41.90 | 0.02 | +0.05% | $2.12B | Investment grade | Vanilla |
| First Trust Managed Municipal ETFFMB | $51.29 | 0.03 | +0.05% | $2.12B | Investment grade | Active |
| JPMorgan International Bond Opportunities ETFJPIB | $48.32 | 0.10 | +0.21% | $2.03B | Broad credit | Active |
| Vanguard Short-Term Tax-Exempt Bond ETFVTES | $101.14 | 0.02 | +0.02% | $2.00B | Investment grade | Vanilla |
| State Street SPDR Portfolio Corporate Bond ETFSPBO | $29.02 | 0.02 | +0.05% | $1.97B | Investment grade | Fundamental |
| iShares 20+ Year Treasury Bond BuyWrite Strategy ETFTLTW | $22.18 | 0.01 | +0.05% | $1.95B | Investment grade | Buy-write |
|  T. Rowe Price QM U.S. Bond ETFTAGG | $42.48 | -0.01 | -0.01% | $1.94B | Investment grade | Active |
| Victory Portfolios II VictoryShares Core Plus Bond ETFUBND | $21.67 | 0.04 | +0.20% | $1.91B | Broad credit | Active |
|  BondBloxx Bloomberg Six Month Target Duration US Treasury ETFXHLF | $50.24 | 0.01 | +0.02% | $1.91B | Investment grade | Target duration |
|  Avantis Core Fixed Income ETFAVIG | $41.35 | 0.03 | +0.07% | $1.90B | Investment grade | Active |
| First Trust Institutional Preferred Securities and Income ETFFPEI | $19.31 | 0.06 | +0.31% | $1.90B | Broad credit | Active |
| State Street SPDR Bloomberg 1-10 Year TIPS ETFTIPX | $18.97 | 0.01 | +0.05% | $1.89B | Investment grade | Vanilla |
| Vanguard Total World Bond ETFBNDW | $68.34 | 0.04 | +0.06% | $1.88B | Investment grade | Vanilla |
| iShares iBonds Dec 2028 Term Treasury ETFIBTI | $22.14 | 0.01 | +0.05% | $1.76B | Investment grade | Bullet maturity |
|  Principal Spectrum Preferred Securities Active ETFPREF | $19.02 | 0.04 | +0.21% | $1.76B | Broad credit | Active |
| Vanguard Total Corporate Bond ETFVTC | $76.76 | 0.01 | +0.02% | $1.75B | Investment grade | Vanilla |
| Invesco BulletShares 2031 Corporate Bond ETFBSCV | $16.44 | 0.01 | +0.06% | $1.73B | Investment grade | Bullet maturity |
| iShares iBonds Dec 2032 Term Corporate ETFIBDX | $25.14 | 0.02 | +0.08% | $1.68B | Investment grade | Bullet maturity |
| PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded FundHYS | $93.55 | 0.12 | +0.13% | $1.67B | High yield | Vanilla |
| First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETFHYLS | $40.96 | 0.07 | +0.17% | $1.65B | High yield | Active |
| iShares High Yield Systematic Bond ETFHYDB | $46.84 | 0.07 | +0.15% | $1.64B | High yield | Multi-factor |
|  Fidelity Low Duration Bond Factor ETFFLDR | $50.17 | 0.00 | 0.00% | $1.64B | Investment grade | Target duration |
| iShares Fallen Angels USD Bond ETFFALN | $27.15 | 0.05 | +0.20% | $1.61B | High yield | Fundamental |
| PIMCO Investment Grade Corporate Bond Index Exchange-Traded FundCORP | $96.76 | 0.05 | +0.05% | $1.61B | Investment grade | Vanilla |
| Dimensional ETF Trust Dimensional International Core Fixed Income ETFDFGX | $53.46 | 0.07 | +0.13% | $1.60B | Broad credit | Active |
| Vanguard Core Plus Bond ETFVPLS | $77.46 | 0.07 | +0.09% | $1.57B | Broad credit | Active |
|  Simplify MBS ETFMTBA | $49.28 | 0.08 | +0.16% | $1.56B | Investment grade | Active |
| First Trust Limited Duration Investment Grade Corporate ETFFSIG | $18.94 | 0.01 | +0.05% | $1.56B | Investment grade | Active |
|  Angel Oak UltraShort Income ETFUYLD | $51.09 | -0.01 | -0.03% | $1.53B | Broad credit | Active |
| Invesco Variable Rate Investment Grade ETFVRIG | $25.11 | 0.00 | +0.02% | $1.53B | Investment grade | Active |
|  Goldman Sachs Ultra Short Bond ETFGSST | $50.50 | 0.02 | +0.04% | $1.53B | Investment grade | Active |
| Janus Henderson Securitized Income ETFJSI | $51.52 | 0.07 | +0.14% | $1.52B | Broad credit | Active |
| JPMorgan Short Duration Core Plus ETFJSCP | $47.09 | 0.06 | +0.12% | $1.52B | Broad credit | Active |
| iShares Aaa - A Rated Corporate Bond ETFQLTA | $47.48 | 0.00 | 0.00% | $1.46B | Investment grade | Vanilla |
| Invesco BulletShares 2032 Corporate Bond ETFBSCW | $20.56 | 0.03 | +0.14% | $1.46B | Investment grade | Bullet maturity |
