Speculative-grade muni bond ETFs have been hit even harder.
High-yield municipal bonds tracked in the S&P Municipal Bond High Yield Index have seen a negative return of 7.08% for June so far, the worst month since December 2008 when the index lost 9.12%, according to S&P Dow Jones Indices.
Market Vectors High-Yield Muni ETF (NYSEArca: HYD) is down nearly 12% the past month. The fund was trading at a discount of nearly 3% to intraday indicative value on Tuesday afternoon, according to Morningstar data.
Market Vectors High-Yield Muni ETF
