Van Eck Files For Municipal Bond Closed-End Fund ETF

Van Eck, the New York City-based ETF issuer known for its lineup of sector specific ETFs in the commodity space, filled with the SEC to expand its footprint in the bond arena with a proposal for a Municipal Bond Closed-End Fund ETF. The product would be the 39th fund from the company and it would mark the ninth bond fund from the firm. While details on the fund’s expense ratio and ticker symbol were not released, we have highlighted some of the key details from this brand new filing below: This proposed fund will track as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Municipal Bond Closed-End Fund Index. This benchmark consists of U.S.-listed closed-end funds and these underlying funds invest in municipal bonds issued by states or local governments or agencies the income of which is exempt from U.S. federal income tax. The municipal securities which each [...] Click here to read the original article on ETFdb.com. Related Posts: Bond ETFs: 12 Stops Along The Risk/Return Spectrum Five Bond ETFs For Yield-Hungry Investors State Street Launches High Yield Muni Bond Fund (HYMB) Van Eck Plans Small Cap Emerging Markets, CEF ETFs 11 Rapid Fire ETF Ideas For 2011