December 14, 2020
Government debt has typically been viewed through the lens of a solid safe haven play. One sector that’s been getting a closer look lately is municipal bonds. Investors can add high yield to the muni mix with
The fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bloomberg Barclays Municipal Custom High Yield Composite Index. The fund normally invests at least 80% of its total assets in securities that comprise the benchmark index.
The index is comprised of publicly traded municipal bonds that cover the U.S. dollar denominated high yield long-term tax-exempt bond market. Overall, HYD offers: