SMMU

Short Term Municipal Bond Active Exchange-Traded Fund

Loading...

  • ADD
  • PRINT
  • SUBSCRIBE
Municipal
Sector
1.31%
distribution yield
As of 06/30/2020
0.44%
30-day sec yield
As of 08/03/2020
2.03%
nav ytd return
As of 08/03/2020
2.10%
MARKET PRICE YTD RETURN
As of 07/31/2020
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 short duration, high credit quality bonds, which are exempt from federal tax and in some cases state tax.

tab 1 graph

Portfolio Information

203
Number of Holdings
As of 07/31/2020
2.08 Years
Effective Maturity
As of 07/31/2020
1.90 Years
Effective Duration
As of 07/31/2020
0.73%
est. yield to maturity
As of 08/03/2020

Fund Facts

NAV PRICE
$51.19
1 DAY RETURN
$-0.05 0.00%
As of 08/03/2020
MARKET PRICE
$51.35
1 DAY RETURN
$-0.11 -0.11%
As of 08/03/2020

Price

Fund Information

As of 07/31/2020
Data point name Data point value
TYPE Active
DURATION CATEGORY Low
CUSIP 72201R874
Inception Date 02/01/2010
Shares Outstanding 3,960,000
Total Net Assets $202,921,397.15
Daily Trading Volume (in shares) 43,585
Premium/Discount Average (since inception) -0.02%
Premium/Discount Average as of market close 0.21%
Tracking Error
Trailing 3 years as of 07/31/2020
0.72%
Closing Price
As of 07/31/2020
$51.38
Annualized Volatility 0.01

INDEX INFORMATION

Bloomberg Barclays 1-Year Municipal Bond Index

The Bloomberg Barclays 1-Year Municipal Bond Index is the 1 Year (1-2) component of the Municipal Bond Index. The Index is a rules-based, market-value-weighted index engineered for the long term tax-exempt bond market. To be included in the Index, bonds must be rated investment-grade (Baa3/BBB- or higher) by at least two of the following ratings agencies: Moody's, S&P and Fitch. If only two of the three agencies rate the security, the lower rating is used to determine index eligibility. If only one of the three agencies rates a security, the rating must be investment-grade. They must have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate, have a dated-date after December 31, 1990, and must be at least one year from their maturity date. Remarketed issues, taxable municipal bonds, bonds with floating rates, and derivatives, are excluded from the benchmark. It is not possible to invest directly in an index.

INDEX INFORMATION
Data point name Data point value
Inception Date 03/01/2004
Rebalancing Frequency Monthly
Annualized Volatility
As of 07/31/2020
0.61%

quarterly trading characteristics

As of 06/30/2020

average volume

in shares 30,639
in $ $1,550,920.06

bid / ask spread

in % 0.35%
in $ $0.18

Top Ten Exposure

As of 07/31/2020

Top Ten Exposure table

Description % of Assets Sector Coupon Maturity
FED HOME LN BK DISC NT 5.03 Commercial Paper 0.00 08/03/2020
U S TREASURY BILLS 3.45 Government 0.00 10/22/2020
PHILADELPHIA HSP-B-VA 2.52 Municipal Bond 0.16 07/01/2025
NYC MUNI WTR FIN-BB4 1.97 Municipal Bond 0.14 06/15/2050
NH H/E VAR-UNIV NH-B 1.73 Municipal Bond 0.16 07/01/2033
NEW YORK ST DORM AUTH 1.63 Municipal Bond 5.00 03/31/2021
FED HOME LN BK DISC NT 1.48 Commercial Paper 0.00 10/14/2020
U S TREASURY BILLS 1.38 Government 0.00 09/29/2020
MASSACHUSETTS ST DEV 1.31 Municipal Bond 5.00 10/01/2022
CT HLTH & EDU-C-2 1.26 Municipal Bond 5.00 02/01/2023

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

1.31%
distribution yield
As of 06/30/2020
0.44%
30-DAY SEC YIELD
As of 08/03/2020
0.73%
est. yield to maturity
As of 08/03/2020

Dividends & Capital Gains Distribution

As of 08/03/2020
Distribution Date Dist. Nav Long Term Cap. Gain Short Term Cap. Gain Dividend Income Dist. Total
08/03/2020 51.19 - - 0.051800 0.051800
07/01/2020 50.98 - - 0.055000 0.055000
06/01/2020 50.79 - - 0.060000 0.060000
05/01/2020 50.20 - - 0.060000 0.060000
04/01/2020 50.04 - - 0.060000 0.060000
03/02/2020 50.92 - - 0.060000 0.060000
02/03/2020 50.79 - - 0.065000 0.065000
12/30/2019 50.57 - - 0.065000 0.065000
12/11/2019 50.62 0.000000 0.000000 - 0.000000
12/02/2019 50.54 - - 0.070000 0.070000
11/01/2019 50.55 - - 0.070000 0.070000
10/01/2019 50.51 - - 0.075000 0.075000
09/03/2019 50.70 - - 0.070000 0.070000
08/01/2019 50.62 - - 0.075000 0.075000
07/01/2019 50.45 - - 0.080000 0.080000
06/03/2019 50.38 - - 0.080000 0.080000
05/01/2019 50.16 - - 0.080000 0.080000
04/01/2019 50.17 - - 0.080000 0.080000
03/01/2019 50.00 - - 0.085000 0.085000
02/01/2019 49.95 - - 0.090000 0.090000
12/28/2018 49.79 - - 0.080000 0.080000
12/12/2018 49.75 0.000000 0.000000 - 0.000000
12/03/2018 49.66 - - 0.085000 0.085000
11/01/2018 49.54 - - 0.078000 0.078000
10/01/2018 49.65 - - 0.070000 0.070000
09/04/2018 49.81 - - 0.074000 0.074000
08/01/2018 49.85 - - 0.070000 0.070000
07/02/2018 49.84 - - 0.072000 0.072000
06/01/2018 49.79 - - 0.074000 0.074000
05/01/2018 49.65 - - 0.068000 0.068000
04/02/2018 49.79 - - 0.064000 0.064000
03/01/2018 49.87 - - 0.064000 0.064000
02/01/2018 49.92 - - 0.062000 0.062000
12/28/2017 49.97 - - 0.060000 0.060000
12/13/2017 50.08 0.000000 0.000000 - 0.000000
12/01/2017 50.01 - - 0.061000 0.061000
11/01/2017 50.25 - - 0.058000 0.058000
10/02/2017 50.31 - - 0.066000 0.066000
09/01/2017 50.49 - - 0.062000 0.062000
08/01/2017 50.34 - - 0.058000 0.058000
07/03/2017 50.20 - - 0.058000 0.058000
06/01/2017 50.34 - - 0.057000 0.057000
05/01/2017 50.17 - - 0.057000 0.057000
04/03/2017 50.09 - - 0.057000 0.057000
03/01/2017 50.08 - - 0.057000 0.057000
02/01/2017 49.91 - - 0.054000 0.054000
12/28/2016 49.68 - - 0.050000 0.050000
12/14/2016 49.77 0.000000 0.000000 - 0.000000
12/01/2016 49.64 - - 0.043000 0.043000
11/01/2016 50.35 - - 0.041000 0.041000
10/03/2016 50.45 - - 0.042000 0.042000
09/01/2016 50.59 - - 0.042000 0.042000
08/01/2016 50.65 - - 0.043000 0.043000
07/01/2016 50.62 - - 0.043000 0.043000
06/01/2016 50.47 - - 0.040000 0.040000
05/02/2016 50.54 - - 0.042000 0.042000
04/01/2016 50.48 - - 0.039000 0.039000
03/01/2016 50.56 - - 0.042000 0.042000
02/01/2016 50.51 - - 0.040000 0.040000
12/29/2015 50.31 - - 0.039000 0.039000
12/09/2015 50.34 0.000000 0.000000 - 0.000000
12/01/2015 50.36 - - 0.039000 0.039000
11/02/2015 50.46 - - 0.037000 0.037000
09/30/2015 50.38 - - 0.035000 0.035000
08/31/2015 50.31 - - 0.035000 0.035000
07/31/2015 50.31 - - 0.039000 0.039000
06/30/2015 50.24 - - 0.040000 0.040000
05/29/2015 50.21 - - 0.036000 0.036000
04/30/2015 50.31 - - 0.037000 0.037000
03/31/2015 50.37 - - 0.036000 0.036000
02/27/2015 50.41 - - 0.037000 0.037000
01/30/2015 50.55 - - 0.035000 0.035000
12/29/2014 50.32 - - 0.036000 0.036000
12/10/2014 50.45 0.000000 0.000000 - 0.000000
11/28/2014 50.47 - - 0.035000 0.035000
10/31/2014 50.50 - - 0.033000 0.033000
09/30/2014 50.48 - - 0.034000 0.034000
08/29/2014 50.53 - - 0.030000 0.030000
07/31/2014 50.46 - - 0.029000 0.029000
06/30/2014 50.47 - - 0.027000 0.027000
05/30/2014 50.48 - - 0.025000 0.025000
04/30/2014 50.36 - - 0.025000 0.025000
03/31/2014 50.31 - - 0.024000 0.024000
02/28/2014 50.47 - - 0.020000 0.020000
01/31/2014 50.37 - - 0.016000 0.016000
12/27/2013 50.25 - - 0.015000 0.015000
12/11/2013 50.27 0.000000 0.000000 - 0.000000
11/29/2013 50.28 - - 0.014000 0.014000
10/31/2013 50.25 - - 0.012600 0.012600
09/30/2013 50.17 0.000000 0.000000 0.012600 0.012600
08/30/2013 50.10 - - 0.012500 0.012500
07/31/2013 50.15 - - 0.015000 0.015000
06/28/2013 50.14 - - 0.024500 0.024500
05/31/2013 50.40 - - 0.027000 0.027000
04/30/2013 50.48 - - 0.035000 0.035000
03/28/2013 50.46 - - 0.038000 0.038000
02/28/2013 50.49 - - 0.040000 0.040000
01/31/2013 50.43 - - 0.040000 0.040000
12/27/2012 50.36 - - 0.041000 0.041000
12/12/2012 50.50 0.004385 0.000000 - 0.004385
11/30/2012 50.53 - - 0.043000 0.043000
10/31/2012 50.53 - - 0.045000 0.045000
09/28/2012 50.57 - - 0.045000 0.045000
08/31/2012 50.58 - - 0.046000 0.046000
07/31/2012 50.60 - - 0.045000 0.045000
06/29/2012 50.54 - - 0.037000 0.037000
05/31/2012 50.57 - - 0.035000 0.035000
04/30/2012 50.55 - - 0.040000 0.040000
03/30/2012 50.49 - - 0.040000 0.040000
02/29/2012 50.55 - - 0.054410 0.054410
01/31/2012 50.51 - - 0.055000 0.055000
12/07/2011 50.39 0.016162 0.016053 - 0.032215
11/30/2011 50.37 - - 0.043510 0.043510
10/31/2011 50.36 - - 0.040950 0.040950
09/30/2011 50.48 - - 0.040550 0.040550
08/31/2011 50.53 - - 0.051690 0.051690
07/29/2011 50.44 - - 0.033850 0.033850
06/30/2011 50.36 - - 0.053590 0.053590
05/31/2011 50.28 - - 0.047340 0.047340
04/29/2011 50.15 - - 0.041610 0.041610
03/31/2011 50.02 - - 0.050620 0.050620
02/28/2011 49.95 - - 0.060370 0.060370
01/31/2011 49.96 - - 0.046550 0.046550
12/29/2010 49.97 - - 0.066530 0.066530
12/08/2010 50.09 0.000000 0.000000 - 0.000000
11/30/2010 50.18 - - 0.055780 0.055780
10/29/2010 50.44 - - 0.039690 0.039690
09/30/2010 50.45 - - 0.050750 0.050750
08/31/2010 50.62 - - 0.046950 0.046950
07/30/2010 50.44 - - 0.043930 0.043930
06/30/2010 50.13 - - 0.053460 0.053460
05/28/2010 50.08 - - 0.042440 0.042440
04/30/2010 49.95 - - 0.042710 0.042710
03/31/2010 49.81 - - 0.050140 0.050140
02/26/2010 50.06 - - 0.030340 0.030340