ALPS Intermediate Municipal Bond ETF
Market Price
NAV
NAV Change
Daily Return
Net Assets
YTD Return
Indicated Yield
2023 Municipal Bonds Outlook
Rob McClure, Director of Research, SS&C ALPS Advisors, and Greg Steier, Managing Director, Brown Brothers Harriman, discuss MNBD and the 2023 outlook for municipal bond investments.
Rob McClure is a Registered Representative of ALPS Distributors, Inc.
Overview
Investment Objective
The ALPS Intermediate Municipal Bond ETF (MNBD) seeks to protect investor’s capital and generate attractive risk-adjusted returns.
Strategy
The ALPS Intermediate Municipal Bond ETF (MNBD) seeks to actively achieve its investment objective by applying bottom-up fundamental analysis and investing in a long-term, tax-aware manner. MNBD aims to actively implement the strategy by investing primarily in a diversified portfolio of investment grade municipal bonds.
Fund Details
| Ticker
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Listing Exchange
NYSE Arca |
| CUSIP
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ISIN
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| Net Assets
as of
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Inception Date |
| Fund Type Exchange-Traded Fund |
Primary Benchmark Bloomberg Municipal Bond 1-15 Year Blend Index |
Performance and Fees
Returns
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As of
Performance data quoted represents past performance. Past performance is no guarantee of future results so that shares, when redeemed, may be worth more or less than their original cost. The investment return and principal value will fluctuate. Current performance may be higher or lower than the performance quoted. Performance includes reinvested distributions and capital gains.
Market Price is based on the midpoint of the bid/ask spread at 4 p.m. ET and does not represent the returns an investor would receive if shares were traded at other times.
Fund inception date: 05/19/2022
Bloomberg Municipal Bond 1-15 Year Blend Index: an unmanaged index comprised of fixed-rate, investment-grade tax-exempt bonds with remaining maturities between 1 and 15 years. One may not invest directly in an index.
$10,000 Hypothetical Investment
The chart above represents the total return historical performance of a hypothetical investment of $10,000 in the Fund over the life of the Fund. Performance calculations are as of the end of each month. Past performance is no guarantee of future results. This chart does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
Fees
Facts and Characteristics
Fund Pricing
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| Last Trade Price (EOD) | |
| Intraday (Midpoint) Price as of |
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| Total Market Value |
Trading Characteristics
As of
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| Daily Volume as of |
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| 30-Day Median Bid/Ask Spread |
Fund Yields
| Indicated Yield |
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| Trailing Twelve Month Yield |
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| 30-Day SEC Yield |
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| 30-Day SEC Yield (Unsubsidized) |
Trailing Twelve Month Yield: refers to the percentage of income a portfolio has returned to investors over the last 12 months.
30-Day SEC Yield: reflects the dividends and interest earned during the period, after the deduction of the Fund's expenses.
30-Day SEC Yield (Unsubsidized): reflects the dividends and interest earned during the period, after the deduction of the Fund’s expenses, excluding fee waivers.
Portfolio
Sector Breakdown
- Top Five Holdings
| Company Name | % of Fund |
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Geography Breakdown
- Top Five Holdings
| Company Name | % of Fund |
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Fund Holdings
Funds Related to MNBD
RiverFront Strategic Income Fund
Fund Disclosure
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemable.
The Fund invests principally in municipal securities. The value of municipal securities may be affected by uncertainties in the municipal market related to legislation or litigation involving the taxation of municipal securities or the rights of municipal securities holders in the event of a default or bankruptcy. If a security’s structure fails to function as intended, the security could become taxable or decline in value. Additionally, issuers of municipal obligations may not be able to make timely payments because of general economic downturns or increased governmental costs.
The Fund will not invest 25% or more of its total assets in any one municipal revenue sector relating to bonds backed by revenues from similar types of projects (such as those relating to higher education, healthcare, housing, airports or utilities) or with other similar economic, business, or political characteristics. However, as the Fund’s exposure to such similar projects increases, the Fund will also become more sensitive to adverse economic, business or political developments relevant to these projects.
Brown Brothers Harriman & Co. (BBH) considers environmental, social and governance (ESG) factors for each investment in the portfolio. ESG factors include, but are not limited to, the environmental and social impact of the issuer, as well as the issuer’s instituted governance programs. A less favorable ESG profile may not preclude the Fund from investing in a bond of an obligor, as the consideration of ESG factors may not be more influential than the consideration of other investment criteria.
ALPS Advisors, Inc. is the investment adviser to the Fund and Brown Brothers Harriman & Co. is the investment sub-adviser to the Fund. ALPS Advisors, Inc. and ALPS Portfolio Solutions Distributor, Inc., affiliated entities, are unaffiliated with Brown Brothers Harriman & Co.
ALPS Portfolio Solutions Distributor, Inc. is the distributor for the Fund.