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.
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