First muni ETF debuts on AMEX

The iShares S&P National Municipal Bond Fund from Barclays Global Investors won’t be the last.
SEP 10, 2007
The first exchange traded fund to invest in municipal bonds began trading today on the American Stock Exchange. The iShares S&P National Municipal Bond Fund from Barclays Global Investors of San Francisco, however, won’t be the last muni ETF. Barclays plans to launch additional such ETFs. And State Street Global Advisors of Boston, Van Eck Global in New York, and PowerShares Capital Management LLC of Wheaton, Ill., have all filed to offer their own muni ETFs. The new Barclays’ ETF will follow the S&P National Municipal Bond Index, which includes bonds from issuers that are primarily state or local governments or agencies such that the interest in the bond is exempt from U.S. federal income taxes. Each bond must have a rating of at least BBB- and must have a minimum par amount outstanding of $50 million. The ETF will have an expense ratio of 0.25%. “Investors have been looking for a simple and cost-effective method of gaining exposure to the municipal market, which is traditionally a less liquid and expensive marketplace especially for those building a portfolio of individual issues,” Noel Archard, head of U.S. iShares Product Development, said in a statement. “The iShares S&P National Municipal Bond Fund looks to solve those problems. BGI applied its quantitative investment management expertise to deliver what it believes is a quality municipal ETF accessible to investors.”

Latest News

Advisor moves: Atlas tops $1B as Wells Fargo, UBS add bank veterans
Advisor moves: Atlas tops $1B as Wells Fargo, UBS add bank veterans

Wells Fargo adds two bank-channel recruits, UBS lands a JPMorgan Chase veteran, and a multi-family office lifts Atlas past $1B

Advisor mom’s son used her password to log into clients’ accounts, sell deal with conflicts, according to Washington state
Advisor mom’s son used her password to log into clients’ accounts, sell deal with conflicts, according to Washington state

“The state comes down on you in years when you make 40% returns for clients,” said Bill Swayne, the advisor and son of Candace Swayne.

Osaic in talks with Anthropic as AI reshapes advisor workforce
Osaic in talks with Anthropic as AI reshapes advisor workforce

The Independent broker-dealer giant has had “active conversations” with the Claude maker, which is days away from its expected IPO

The retirement milestone advisors aren't tracking
The retirement milestone advisors aren't tracking

For Gen X clients entering life after work, answering the financial question isn't enough to solve the entire retirement equation.

Wealthtech firms target stock pay, pensions and heirs for advisors
Wealthtech firms target stock pay, pensions and heirs for advisors

Tools from Grantd, Income Lab and Healthspan Wealth aim to keep RIAs involved in clients’ biggest money decisions

SPONSORED Best Practices for Engaging Women Around Alternatives

Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.