Guggenheim Investments filed last week for its first ETF products since selling its $37 billion ETF business to Invesco in 2017. The filings include an Ultrashort Bond ETF and five others: Short Duration Income, Investment Grade CLO, Enhanced Equity Income, Core Plus Bond and Securitized Income ETFs. All would be actively managed.
Similarly, DoubleLine, the firm of famed bond investor Jeffrey Gundlach, made a rare new product filing indicating plans for an Ultrashort Income ETF.
"Boring is good when it comes to ETFs. This one is actively managed, but ultrashort income is just about as boring as they get," said Todd Sohn, senior ETF and technical strategist at Strategas Securities, referring specifically to the DoubleLine fund. "It's a huge category," he added, noting Pimco's Enhanced Short Maturity Active ETF (MINT) has $15 billion in assets.
Sohn noted the timing is interesting. Potential rate cuts by the Federal Reserve later this year could mean declining yields, which might encourage investors to move assets out of money markets, Treasurys and cash.
According to Morningstar Direct data, US ultrashort bond ETFs saw what appears to be a record $90 billion in inflows last year, compared with a recent high of $57 billion in 2022. Total assets in the category rose to $313 billion at the end of last year from $223 billion in 2024.
DoubleLine manages about $2 billion across eight ETFs, compared with $51 billion in its mutual funds. The firm has seen nearly $2 billion in net outflows from those mutual fund products in 2025.
Guggenheim has about $50 billion in mutual fund assets under management and saw more than $400 million in net inflows last year. The company has eight US fixed income mutual funds with little overlap to its new ETF filings.
Fixed income has been a major area of development for ETF issuers over the past year, particularly in active management. "They probably have client demand for it," Sohn said of the new filings. "Assuming they have the distribution, that could make for a successful product."