State Street Launches High Yield Muni Bond Fund (HYMB)

By: ETFdb
State Street, the issuer behind the two largest U.S.-listed ETFs, made a new addition to the fixed income portion of its product lineup this week. The recently-launched SPDR Nuveen S&P High Yield Municipal Bond ETF (HYMB) will seek to replicate the performance of the S&P Municipal High Yield Index, a benchmark that consists of bonds issued by U.S. states and territories, local governments or agencies, that are rated below investment grade. High Yield Muni Bond ETF In Focus The underlying index includes more than 21,000 individual issues, with the largest issues going to California (15%), New York (11%), and Florida (7.2%). A number of smaller states/territories also find their way into the top ten such as Puerto Rico, Tennessee, and Colorado. In terms of individual holdings, some extremely long-dated issues dominate the top of the list. Two of the underlying index’s biggest allocations go to Tobacco Settlement bonds that mature in [...] Click here to read the original article on ETFdb.com. Related Posts: Wide World Of Muni Bond ETFs 11 Rapid Fire ETF Ideas For 2011 ETF Tax Efficiency Report Card Looking For Juicy Yields? Try Muni Bond ETFs Look Out Below! Muni Bond ETFs In Freefall
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