MUNI

Intermediate Municipal Bond Active Exchange-Traded Fund

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Municipal
Sector
1.75%
distribution yield
As of 08/31/2020
0.82%
30-day sec yield
As of 09/30/2020
3.35%
nav ytd return
As of 09/30/2020
3.24%
MARKET PRICE YTD RETURN
As of 09/30/2020
Morningstar Rating

The Fund seeks attractive tax-exempt income, consistent with preservation of capital.

why invest in this fund

Seeks to provide attractive after tax income

The fund seeks to provide attractive after tax income from a nationally diversified portfolio of primarily intermediate duration, high credit quality bonds, which are exempt from federal tax and in some cases state tax.

tab 1 graph

Portfolio Information

230
Number of Holdings
As of 09/29/2020
4.99 Years
Effective Maturity
As of 09/29/2020
4.53 Years
Effective Duration
As of 09/29/2020
1.56%
est. yield to maturity
As of 09/30/2020

Fund Facts

NAV PRICE
$56.17
1 DAY RETURN
$-0.05 -0.09%
As of 09/30/2020
MARKET PRICE
$56.21
1 DAY RETURN
$-0.06 -0.11%
As of 09/30/2020

Price

Fund Information

As of 09/29/2020
Data point name Data point value
TYPE Active
DURATION CATEGORY Intermediate
CUSIP 72201R866
Inception Date 11/30/2009
Shares Outstanding 9,160,000
Total Net Assets $514,987,736.49
Daily Trading Volume (in shares) 46,712
Premium/Discount Average (since inception) 0.01%
Premium/Discount Average as of market close 0.09%
Tracking Error
Trailing 3 years as of 09/30/2020
0.44%
Closing Price
As of 09/29/2020
$56.27
Annualized Volatility 0.03

INDEX INFORMATION

Bloomberg Barclays 1-15 Year Municipal Bond Index

Bloomberg Barclays 1-15 Year Municipal Bond Index consists of a broad selection of investment grade general obligation and revenue bonds of maturities ranging from one year to 17 years. It is an unmanaged index representative of the tax exempt bond market. It is not possible to invest directly in an unmanaged index.

INDEX INFORMATION
Data point name Data point value
Index Ticker LM17TR
Inception Date 07/01/1993
Rebalancing Frequency Monthly
Annualized Volatility
As of 08/31/2020
3.04%

quarterly trading characteristics

As of 06/30/2020

average volume

in shares 61,916
in $ $3,391,785.03

bid / ask spread

in % 0.27%
in $ $0.15

Top Ten Exposure

As of 09/29/2020

Top Ten Exposure table

Description % of Assets Sector Coupon Maturity
U S TREASURY BILLS 3.69 Government 0.00 11/17/2020
CASH MGMT BILL 3.24 Government 0.00 01/05/2021
TOB SETTLEMT FING -A 1.63 Municipal Bond 5.00 06/01/2035
CHICAGO MIDWAY-B-REF 1.40 Municipal Bond 5.00 01/01/2035
U S TREASURY BILLS 1.15 Government 0.00 10/22/2020
NYC TRANSITIONAL-B-1 1.13 Municipal Bond 5.00 08/01/2031
DETROIT CITY SD-A 1.08 Municipal Bond 6.00 05/01/2029
GEISINGER PA AUTH HLT 1.07 Municipal Bond 5.00 02/15/2027
SALES TAX SECURITIZAT 1.07 Municipal Bond 5.00 01/01/2028
TEXAS ST -TRANS 1.00 Municipal Bond 4.00 08/26/2021

Fund Managers

fund manager David Hammer
David Hammer
Head of Municipal Bond Portfolio Management
fund manager Rachel Betton
Rachel Betton
Portfolio Manager, Municipal Bonds
Effective as of 10/31/2019

Fees and Expenses

Name Value
Gross Expense Ratio 0.35%

Yields

1.75%
distribution yield
As of 08/31/2020
0.82%
30-DAY SEC YIELD
As of 09/30/2020
1.56%
est. yield to maturity
As of 09/30/2020

Dividends & Capital Gains Distribution

As of 09/30/2020
Distribution Date Dist. Nav Long Term Cap. Gain Short Term Cap. Gain Dividend Income Dist. Total
09/01/2020 56.15 - - 0.078170 0.078170
08/03/2020 56.38 - - 0.087000 0.087000
07/01/2020 55.64 - - 0.090000 0.090000
06/01/2020 55.25 - - 0.095000 0.095000
05/01/2020 53.94 - - 0.095000 0.095000
04/01/2020 53.56 - - 0.100000 0.100000
03/02/2020 56.26 - - 0.100000 0.100000
02/03/2020 55.79 - - 0.105000 0.105000
12/30/2019 55.08 - - 0.105000 0.105000
12/11/2019 55.17 0.000000 0.000000 - 0.000000
12/02/2019 54.96 - - 0.105000 0.105000
11/01/2019 55.03 - - 0.100000 0.100000
10/01/2019 55.09 - - 0.110000 0.110000
09/03/2019 55.54 - - 0.105000 0.105000
08/01/2019 55.03 - - 0.110000 0.110000
07/01/2019 54.67 - - 0.110000 0.110000
06/03/2019 54.58 - - 0.115000 0.115000
05/01/2019 53.94 - - 0.115000 0.115000
04/01/2019 53.80 - - 0.115000 0.115000
03/01/2019 53.29 - - 0.125000 0.125000
02/01/2019 53.14 - - 0.130000 0.130000
12/28/2018 52.75 - - 0.100000 0.100000
12/12/2018 52.56 0.000000 0.000000 - 0.000000
12/03/2018 52.32 - - 0.130000 0.130000
11/01/2018 51.94 - - 0.120000 0.120000
10/01/2018 52.36 - - 0.110000 0.110000
09/04/2018 52.74 - - 0.114000 0.114000
08/01/2018 52.73 - - 0.110000 0.110000
07/02/2018 52.73 - - 0.114000 0.114000
06/01/2018 52.74 - - 0.113000 0.113000
05/01/2018 52.43 - - 0.113000 0.113000
04/02/2018 52.70 - - 0.110000 0.110000
03/01/2018 52.75 - - 0.112000 0.112000
02/01/2018 52.94 - - 0.110000 0.110000
12/28/2017 53.51 - - 0.105000 0.105000
12/13/2017 53.59 0.000000 0.000000 - 0.000000
12/01/2017 53.45 - - 0.107000 0.107000
11/01/2017 53.67 - - 0.104000 0.104000
10/02/2017 53.66 - - 0.107000 0.107000
09/01/2017 53.92 - - 0.104000 0.104000
08/01/2017 53.63 - - 0.107000 0.107000
07/03/2017 53.38 - - 0.109000 0.109000
06/01/2017 53.61 - - 0.107000 0.107000
05/01/2017 53.07 - - 0.105000 0.105000
04/03/2017 52.85 - - 0.105000 0.105000
03/01/2017 52.66 - - 0.108000 0.108000
02/01/2017 52.59 - - 0.105000 0.105000
12/28/2016 52.35 - - 0.100000 0.100000
12/14/2016 52.47 0.000000 0.000000 - 0.000000
12/01/2016 52.09 - - 0.100000 0.100000
11/01/2016 54.16 - - 0.094000 0.094000
10/03/2016 54.73 - - 0.100000 0.100000
09/01/2016 54.94 - - 0.103000 0.103000
08/01/2016 54.93 - - 0.107000 0.107000
07/01/2016 55.05 - - 0.107000 0.107000
06/01/2016 54.38 - - 0.103000 0.103000
05/02/2016 54.44 - - 0.107000 0.107000
04/01/2016 54.25 - - 0.102000 0.102000
03/01/2016 54.17 - - 0.107000 0.107000
02/01/2016 54.31 - - 0.110000 0.110000
12/29/2015 53.74 - - 0.105000 0.105000
12/09/2015 53.69 0.000000 0.000000 - 0.000000
12/01/2015 53.62 - - 0.105000 0.105000
11/02/2015 53.44 - - 0.105000 0.105000
09/30/2015 53.25 - - 0.100000 0.100000
08/31/2015 52.99 - - 0.096000 0.096000
07/31/2015 52.99 - - 0.094000 0.094000
06/30/2015 52.84 - - 0.094000 0.094000
05/29/2015 53.03 - - 0.094000 0.094000
04/30/2015 53.34 - - 0.098000 0.098000
03/31/2015 53.73 - - 0.100000 0.100000
02/27/2015 53.65 - - 0.100000 0.100000
01/30/2015 54.39 - - 0.096000 0.096000
12/29/2014 53.48 - - 0.094000 0.094000
12/10/2014 53.68 0.000000 0.000000 - 0.000000
11/28/2014 53.51 - - 0.092000 0.092000
10/31/2014 53.56 - - 0.085000 0.085000
09/30/2014 53.44 - - 0.085000 0.085000
08/29/2014 53.56 - - 0.085000 0.085000
07/31/2014 53.17 - - 0.082000 0.082000
06/30/2014 53.17 - - 0.077000 0.077000
05/30/2014 53.26 - - 0.080000 0.080000
04/30/2014 52.89 - - 0.081000 0.081000
03/31/2014 52.54 - - 0.087000 0.087000
02/28/2014 52.81 - - 0.087000 0.087000
01/31/2014 52.48 - - 0.090000 0.090000
12/27/2013 51.87 - - 0.094000 0.094000
12/11/2013 52.02 0.000000 0.000000 - 0.000000
11/29/2013 52.09 - - 0.097000 0.097000
10/31/2013 52.36 - - 0.093000 0.093000
09/30/2013 52.16 0.000000 0.000000 0.090000 0.090000
08/30/2013 51.27 - - 0.090000 0.090000
07/31/2013 51.79 - - 0.100000 0.100000
06/28/2013 52.06 - - 0.106000 0.106000
05/31/2013 53.70 - - 0.105000 0.105000
04/30/2013 54.70 - - 0.105000 0.105000
03/28/2013 54.14 - - 0.105000 0.105000
02/28/2013 54.40 - - 0.105000 0.105000
01/31/2013 54.34 - - 0.100000 0.100000
12/27/2012 54.27 - - 0.098000 0.098000
12/12/2012 54.87 0.012742 0.057407 - 0.070149
11/30/2012 55.25 - - 0.097000 0.097000
10/31/2012 54.41 - - 0.097000 0.097000
09/28/2012 54.48 - - 0.095000 0.095000
08/31/2012 54.22 - - 0.095000 0.095000
07/31/2012 54.32 - - 0.092000 0.092000
06/29/2012 53.70 - - 0.095000 0.095000
05/31/2012 53.89 - - 0.100000 0.100000
04/30/2012 53.68 - - 0.100000 0.100000
03/30/2012 53.14 - - 0.093000 0.093000
02/29/2012 53.75 - - 0.091240 0.091240
01/31/2012 53.71 - - 0.110000 0.110000
12/28/2011 52.92 - - 0.080000 0.080000
12/07/2011 52.67 0.020378 0.042723 - 0.063101
11/30/2011 52.32 - - 0.108730 0.108730
10/31/2011 52.03 - - 0.108000 0.108000
09/30/2011 52.49 - - 0.100470 0.100470
08/31/2011 52.48 - - 0.126240 0.126240
07/29/2011 51.84 - - 0.072470 0.072470
06/30/2011 51.44 - - 0.099120 0.099120
05/31/2011 51.43 - - 0.099760 0.099760
04/29/2011 50.86 - - 0.091040 0.091040
03/31/2011 50.26 - - 0.091720 0.091720
02/28/2011 50.40 - - 0.099420 0.099420
01/31/2011 50.10 - - 0.096500 0.096500
12/29/2010 50.32 - - 0.115170 0.115170
12/08/2010 50.85 0.000000 0.085510 - 0.085510
11/30/2010 51.29 - - 0.114310 0.114310
10/29/2010 51.94 - - 0.095040 0.095040
09/30/2010 52.09 - - 0.103290 0.103290
08/31/2010 52.47 - - 0.102830 0.102830
07/30/2010 51.44 - - 0.099460 0.099460
06/30/2010 50.63 - - 0.110560 0.110560
05/28/2010 50.58 - - 0.082880 0.082880
04/30/2010 50.19 - - 0.090440 0.090440
03/31/2010 49.87 - - 0.089000 0.089000
02/26/2010 50.45 - - 0.094890 0.094890
01/29/2010 50.01 - - 0.098510 0.098510
12/29/2009 49.79 - - 0.046990 0.046990
12/16/2009 49.92 0.000000 0.000000 - 0.000000