AB California Intermediate Municipal ETF (CAM)

The AB California Intermediate Municipal ETF (CAM) is an actively managed fund that invests in intermediate-term municipal bonds issued in California. Income from these securities is generally exempt from federal income tax and California personal income tax for state residents.

The managers select bonds from state and local governments and public authorities based on credit research, yield-curve positioning and relative value, aiming for tax-exempt income with moderate interest-rate sensitivity.

The fund is sponsored by AllianceBernstein, whose municipal bond team manages a range of national and state-specific tax-exempt strategies, and trades on NYSE Arca.