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A compact highly efficient wavelength (de)multiplexer with channel spacing of 100 GHz has been realized with a monolithically integrated asymmetric 2 × 2 Mach-Zehnder interferometer using a single step sputtered SiO2-annealing quantum-well intermixing process. Wavelength tunability and asymmetric loss rebalancing of the device is demonstrated using current injection. Wavelength tuning over 0.8 nm is achieved with only 6 mA of injected current. An extinction ratio of more than 27 dB is obtained.