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NYF - New York Muni Bond Ishares ETF

New York Muni Bond Ishares ETF logoThe iShares New York Muni Bond ETF (NYF) is an exchange-traded fund (ETF) that seeks to track the investment results of the S&P New York AMT-Free Municipal Bond Index. The fund invests in a diversified portfolio of investment-grade municipal bonds issued by New York municipalities that are exempt from federal and New York State and City personal income taxes.

The S&P New York AMT-Free Municipal Bond Index is a market value-weighted index designed to track the performance of the investment-grade segment of the New York municipal bond market. To be included in the index, bonds must have a minimum par amount outstanding of $5 million and be rated investment grade (Baa3/BBB- or higher) by at least one of the three major credit rating agencies.

NYF provides exposure to New York municipal bonds, which can offer attractive tax benefits for investors subject to New York state and local taxes. The fund has an expense ratio of 0.25%, which is relatively low compared to other municipal bond ETFs. As of March 23, 2023, the fund has assets under management of over $1.7 billion and holds over 550 individual municipal bonds with an average maturity of around 10 years. The fund is designed to provide investors with a high level of income and stability, with a current yield of around 1.5%.

As with all fixed income investments, NYF carries some risks. One of the primary risks associated with municipal bonds is credit risk, or the risk that the issuer will default on its obligations. Interest rate risk is another potential risk, as rising interest rates can cause the value of fixed income investments to decline. Additionally, the tax benefits of investing in municipal bonds may not be realized by all investors, depending on their individual tax situations. Investors should carefully consider their investment objectives, risk tolerance, and tax situation before investing in NYF or any other municipal bond ETF.




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