Index Universe
- Visit IndexUniverse.com
-
- DataAll US Listed ETFs, Sortable 42 Data Points
- ETF WatchAll ETFs under registration
- Breaking News
- Research
- Features
- Subscribe to RSS feed
- More articles
You might have thought the barrage of municipal bond exchange-traded funds was over. After all, things have been pretty quiet lately, with the most recent launch taking place about a month ago. But, as of yesterday, you'd be wrong, as Van Eck Global, a latecomer to the field, launched its second muni bond ETF.
The Market Vectors-Lehman Brothers AMT-Free Long Municipal Index ETF (AMEX: MLN) tracks the Lehman Brothers AMT-Free Long Continuous Municipal Index. The index is weighted by market value and includes fixed-rate, investment-grade municipal bonds with durations of at least 17 years and outstanding par values of at least $7 million. As implied by the index's name, its components are all exempt from the alternative minimum tax.
MLN carries a net expense ratio of 0.24%. The PowerShares Insured National Municipal Bond Portfolio (AMEX: PZA) also tracks long maturity muni bonds; it charges an expense ratio of 0.28%.
The new ETF joins the Market Vectors-Lehman Brothers AMT-Free Intermediate Municipal Index ETF (AMEX: ITM), which was launched December 6 and tracks the Lehman Brothers AMT-Free Intermediate Municipal Index. The components of the intermediate index have a nominal maturity of six to 17 years.
Actually, things are far from over: Another four muni bond ETFs from Van Eck are on the way, according to a registration statement filed by the firm. Still to come are a national short-term muni bond fund, funds covering the New York and California muni bond markets, and a high-yield fund. Should Van Eck launch all of the proposed ETFs as planned, there is a good chance it will have the broadest offering of municipal bond ETFs at one firm.
You can view the prospectus for MLN here.
Written by Heather Bell
- More on Broad US Bond ETFs
Related Articles
|
Hedge Fund Jobs
Job Seekers: Search jobs by category, get job alerts by email or live feed, apply online See full list of jobs »
Employers: See all recruitment options, get applications online or by email Post a job »
Trading Center
- Free E-Newsletters
- About Seeking Alpha
- About Us
- Contact Us
- What's New
- Readers Feedback
- Advertise With Us
- Contributors
- Contribute an Article
- Feature Your Book
- Our Contributors
- Anonymous Contributions
- Dispute an Article?
- Legal
- Terms of Use
- Privacy
- Copyright