The list of choices within the municipal bond exchange traded funds (ETFs) continues to grow.

On Tuesday, Van Eck Global launched a new ETF on the American stock exchange, the Market Vectors-Lehman Brothers AMT-Free Short Municipal Index ETF (SMB), reports 24/7 Wall Street.

The fund is designed to offer investors exposure to investment-grade municipal bonds with a nominal maturity of 1-6 years. The expense ratio is 0.16%, and it will track the price and yield performance of the Lehman Brothers AMT-Free Short Continuous Municipal Index.

The growing family of options in municipal bond ETFs include:

• PowerShares Insured National Muni Bond (PZA)
• Market Vectors Lehman AMT-Free Int Muni (ITM)
• iShares S&P National Municipal Bond (MUB)
• SPDR Lehman Municipal Bond (TFI)
• PowerShares VRDO Tax-Free Weekly (PVI)
• SPDR Lehman Short Term Municipal Bond (SHM)

Tags: Bond ETFs