Up & Coming Fixed Income ETFs

GRNB VanEck Vectors Green Bond ETF

GRNB What you need to know
Objective Global green bond exposure. Bonds classified by Climate Bond Initiative (CBI)
Exchange: NYSE Arca
Inception: 3/3/2017
30 Day SEC Yield: 1.38% as of 6/4/2018
Duration: 6.4
AUM:* $17million
Mgmt Fee: 40bps
URL: https://www.vaneck.com/etf/income/grnb/overview/
Rieger Report Observations: Relatively short duration, high quality investment grade exposure. Global currency exposure, USD bonds represent less than 30% of portfolio. Could be useful allocation in a) weakening USD environment and b) rising rate, principal protection environment.

SPXB: S&P 500 BOND ETF

SPXB What you need to know
Objective Seeks investment results, before fees and expenses, that track the performance of the S&P 500®/MarketAxess® Investment Grade Corporate Bond Index.
Exchange: NYSE
Inception: 5/1/2018
30 Day SEC Yield: 3.69% as of 5/31/2018
Duration: NA
AUM:* $32million
Mgmt Fee: 15bps
URL: http://www.proshares.com/spxb/
Rieger Report Observations: Low cost (management fee) exposure to higher quality, more liquid USD corporate bonds issued by S&P 500 companies. Straight forward and easy to explain.

IQ MacKay Shields Municipal Intermediate ETF (MMIT)

MMIT What you need to know
Objective The Fund (MMIT) seeks current income exempt from federal income tax. The Fund seeks to achieve its objective by investing primarily in investment grade municipal bonds and will also seek to enhance total return potential through its subadvisor’s active management approach.
Exchange: NYSE Arca
Inception: 10/18/17
30 Day SEC Yield:
Duration: NA
AUM: $27.5million
Mgmt Fee: 30bps after waiver of 27bps through 8/31/2018 by Index IQ
URL: https://www.nylinvestments.com/IQetfs/etfs/IQ-MacKay-Shields-Municipal-Intermediate-ETF
Rieger Report Observations:
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