Best Performing Muni Bond ETFs
These best performing municipal bond exchange traded funds can be categorized into various classes such as short term muni bond, intermediate term muni bond, long term municipal bond, high yield municipal bond, etc. These funds provide income exempt from federal tax rate and possibly state tax.
The muni bond ETFs have expense ratio ranging from 0.16% to 1.43%. The fund providers are Columbia, Invesco PowerShares, iShares, PIMCO, State Street, and Van Eck.
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| Top Performer ETFs |
YTD Top Performer Municipal Bond ETFs up to July 15 2012 are
- Market Vectors High Yield Municipal Index ETF (HYD)
- SPDR Nuveen S&P High Yield Municipal Bond ETF (HYMB)
- Market Vectors CEF Municipal Income ETF (XMPT)
- Market Vectors-Lehman Brothers AMT-Free Long Municipal Index ETF (MLN)
- PowerShares Insured National Municipal Bond Portfolio (PZA)
- Market Vectors Intermediate Municipal Index ETF (ITM)
- Grail McDonnell Intermediate Municipal Bond ETF (GMMB)
- SPDR Nuveen Barclays Capital Municipal Bond ETF (TFI)
- iShares S&P National Municipal Bond Fund (MUB)
- PIMCO Intermediate Municipal Bond Strategy Fund (MUNI)
1. Market Vectors High Yield Municipal Index ETF (HYD)
The investment objective of Market Vectors High Yield Municipal Index ETF is to replicate the price and yield performance of the Barclays Capital Municipal Custom High Yield Composite Index (LMEHTR). This index ETF has an annual expense ratio of 0.35%. The current yield is 5.21%.
MORE: Top Performer Municipal Bond Mutual Funds of 2012
Ranked with 4 stars by Morningstar, this top performer high yield muni bond ETF has a year-to-date return of 8.46%. Its 3 year average return is 12.17%. The average modified duration is 10.78 years. As of July 2012, the top 5 municipal states are California, New York, Puerto Rico, New Jersey, Ohio, and Texas.
2. SPDR Nuveen S&P High Yield Municipal Bond ETF (HYMB)
The SPDR Nuveen S&P High Yield Municipal Bond ETF is another top performing high yield bond exchange traded fund. It tracks the S&P Municipal Yield Index (SPMUHT). This fund is traded at NYSE Arca Exchange. The net expense ratio is 0.45%. The investment manager is SSgA Funds Management, Inc.
This fund CUSIP number is 78464A284. The fund has an average maturity of 22.08 years. The assets that are subjected to AMT are 10.48%. The fund top 6 states are California, Florida, Ohio, Colorado, New York, and Puerto Rico. The inception date is April 13, 2011.
3. Market Vectors CEF Municipal Income ETF (Ticker: XMPT)
This Market Vectors CEF Municipal Income ETF utilizes its assets to replicate the price and yield performance of the S-Network Municipal Bond Closed-End Fund Index (CEFMX). This fund of funds has $8.6 million of total assets. The expense ratio is 1.43%. The 30-day SEC yield is 5.47%. The yield is paid monthly.
MORE: YTD Top Performer Exchange Traded Funds of 2012
As of July 2012, the top 5 holdings are Nuveen Municipal Value Fund (NUV), Nuveen Insured Muni Opportunity (NIO), Nuveen Premium Income Muni 2 (NPM), Nuveen Performance Plus Muni (NPP), and Nuveen Premium Income Muni Fund (NPI).
4. Market Vectors AMT-Free Long Municipal Index ETF (MLN)
This Market Vectors-Lehman Brothers AMT-Free Long Municipal Index ETF is ranked with 4 star rating. It has $94 million of total assets. The expense ratio is 0.24% per year. This long term national municipal bond fund is most suitable for use by investors in high annual tax brackets for use in their taxable accounts.
It is also known as Market Vectors Long Municipal Index ETF. The fund has a 3-year annualized return of 9.82%. This top performer ETF tracks the Barclays Capital AMT-Free Long Continuous Municipal Index.
5. PowerShares Insured National Municipal Bond Portfolio (PZA)
The PowerShares Insured National Municipal Bond fund is based on The BofA Merrill Lynch National Insured Long-Term Core Plus Municipal Securities Index. The fund sponsor is Invesco. The tax equivalent yield is 5.71% (based on 35% tax rate). The expense ratio is 0.28%.
This fund has its worst 1-year total return in 2008 with -11.80%. For 2012, the year-to-date return is 4.17%. The yield to maturity is 4.59%.
Disclosure: No Position
Fund Performance
| No | Name | Symbol | YTD | Assets | Avg. Vol |
|---|---|---|---|---|---|
| 1 | Market Vectors High Yield Muni ETF | HYD | 11.85% | $679,420 | 266,623 |
| 2 | SPDR Nuveen S&P High Yield Municipal Bond | HYMB | 10.36% | $95,642 | 38,212 |
| 3 | Market Vectors CEF Municipal Income ETF | XMPT | 9.81% | $8,613 | 2,265 |
| 4 | Market Vectors Long Municipal Index ETF | MLN | 7.23% | $94,240 | 33,988 |
| 5 | PowerShares Insured National Muni Bond | PZA | 6.46% | $775,054 | 206,308 |
| 6 | Market Vectors Intermediate Muni ETF | ITM | 3.98% | $510,708 | 153,021 |
| 7 | Columbia Interm Muni Bond Strat Fund | GMMB | 3.95% | $8,123 | 859 |
| 8 | SPDR Nuveen Barclays Capital Muni Bond | TFI | 3.93% | $1,139,799 | 205,831 |
| 9 | iShares S&P National Municipal Bond Fund | MUB | 3.60% | $3,015,370 | 233,799 |
| 10 | PIMCO Intermediate Muni Bond Strategy Fund | MUNI | 3.06% | $159,662 | 20,584 |
| 11 | iShares 2016 S&P AMT-Free Municipal Series | MUAE | 1.89% | $37,464 | 4,653 |
| 12 | iShares 2017 S&P AMT-Free Municipal Series | MUAF | 1.71% | $52,478 | 5,863 |
| 13 | Market Vectors Pre-Refunded Muni ETF | PRB | 1.51% | $32,929 | 8,399 |
| 14 | Market Vectors Short Municipal Index ETF | SMB | 1.36% | $151,763 | 55,340 |
| 15 | iShares 2015 S&P AMT-Free Municipal Series | MUAD | 1.22% | $42,512 | 7,778 |
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