As the two new ETFs’ names suggest, IBMJ holds onto investment-grade municipal bonds that mature by December 2021 while IBMK includes munis that mature by December 2022. Both ETFs have an expense ratio of 0.18%.
IBMJ’s top state holdings include New York 15.3%, Florida 10.6%, Washington 10.0%, Texas 7.9%, Virginia 5%, Maryland 4.7%, Ohio 4.5%, California 4.3%, Arkansas 4.1% and Massachusetts 3.4%. Sectors include state-taxed back 35.3%, transportation 17.2%, local tax-backed 15.4%, utilities 12.1%, education 11.1% and school districts 7.9%.
IBMK’s top states include California 14.5%, Texas 11.6%, New York 10.8%, Washington 9.5%, Florida 9.2%, Ohio 7.5%, Wisconsin 6.1%, Massachusetts 4.7%, Illinois 3.9% and Utah 2.7%, Sectors include state tax-backed 36.1%, local tax-backed 16.2%, transportation 15.5%, utility 14.5%, school districts 7.6% and education 6.0%.
For more information on new fund products, visit our new ETFs category.
Money managers who are looking into constructing their own ETFs may also be interested in attending the second annual ETF Boot Camp in New York later this month. Whether you’re an ETF start-up, fund company, broker dealer, pension plan, endowment, private equity firm, fund board independent director, 401k plan provider or ETF industry executive…this conference is designed for you. This one-of-a-kind event will condense everything you need to know about the inner workings of the ETF business into two days.
Max Chen contributed to this article.