VictoryShares Municipal High Yield ETF (VMHY)

VictoryShares Municipal High Yield ETF (VMHY) is an exchange-traded fund that invests primarily in high-yield municipal bonds, meaning tax-exempt debt issued by U.S. states, local governments and public authorities that is rated below investment grade or unrated.

The fund seeks a high level of income that is generally exempt from federal income tax. Its holdings can include bonds financing hospitals, senior living facilities, transportation projects, charter schools and other revenue-backed projects, which typically offer higher yields than general obligation municipal debt in exchange for greater credit risk.

The fund is sponsored by Victory Capital Management, a San Antonio-based asset manager, under its VictoryShares ETF brand.