NYLIM Winslow Large Cap Growth ETF (IWLG)

The IQ MacKay Municipal Insured ETF (IWLG) is an exchange-traded fund that seeks to track the performance of the IQ MacKay Municipal Insured Large Cap Index. The index is composed of large capitalization municipal bonds that are insured by financial guarantors, such as MBIA, Assured Guaranty, and others.

The ETF is managed by IndexIQ, a subsidiary of New York Life Investment Management LLC, and was first launched in 2018.

Investing in municipal bonds can provide investors with tax-advantaged income, as interest earned on municipal bonds is typically exempt from federal income tax and, in some cases, state and local taxes as well. The addition of insurance from financial guarantors can also provide an extra layer of protection for investors.

However, as with any investment, there are risks to consider. Municipal bonds are subject to interest rate risk, credit risk, and inflation risk, among others. Additionally, the use of financial guarantors to insure the bonds can also introduce counterparty risk, as the guarantor may not be able to fulfill its obligations in the event of financial difficulties.