BATS | ETF
Under normal market conditions, the fund will invest in municipal bond closed-end funds trading at a discount or premium to their underlying net asset value and that pay regular periodic cash distributions.
While it will invest primarily in closed-end funds, the fund may invest up to 30% of its assets in municipal or short term Treasury ETFs if in the adviser's discretion, the ETFs will provide a better investment opportunity or liquidity for the asset class.
Top 15 Holdings
| Asset | Name | Sector | Industry | Weight |
|---|---|---|---|---|
| MYD | BlackRock MuniYield Fund | Financial Services | Asset Management | 11.29% |
| MHD | BlackRock MuniHoldings Closed Fund | Financial Services | Asset Management | 11.26% |
| BFK | BlackRock Municipal Income Closed Fund | Financial Services | Asset Management | 11.16% |
| MMU | Western Asset Managed Municipals Closed Fund | Financial Services | Asset Management | 10.88% |
| NBH | Neuberger Berman IMF Inc | Financial Services | Asset Management | 10.64% |
| BLE | BlackRock MIT II | Financial Services | Asset Management | 9.09% |
| IQI | Invesco Quality Municipal Income Closed Fund | Financial Services | Asset Management | 8.68% |
| VKQ | Invesco Municipal Trust | Financial Services | Asset Management | 8.32% |
| VMO | Invesco Municipal Opportunity Trust | Financial Services | Asset Management | 7.61% |
| NEA | Nuveen AMT-Free Municipal IF | Financial Services | Asset Management | 4.87% |
| NVG | Nuveen AMT Free Municipal Credit Income | Financial Services | Asset Management | 3.78% |
| MYI | BlackRock MuniYield Quality Closed Fund III | Financial Services | Asset Management | 2.03% |
| IIM | Invesco Value Municipal Income Closed Fund | Financial Services | Asset Management | 0.75% |
| NAD | Nuveen Dividend Advantage Municipal Fund | Financial Services | Asset Management | 0.58% |
| NZF | Nuveen Municipal Credit Income | Financial Services | Asset Management | 0.49% |