Van Eck Global launched a new exchange traded fund (ETF) last week on the American Stock Exchange. The Market Vectors-Lehman Brothers AMT-Free Intermediate Municipal Index ETF (ITM) was created to give investors tax-exempt income to exposure to investment grade municipal bonds with a nominal maturity of 6-17 years. ITM tracks the Lehman Brothers AMT-Free Intermediate Continuous Municipal Index. The expense ratio is 0.20%. ITM joins in the growth of bond focused ETFs.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.