Overview
Seven thousand long-dated investment-grade municipal bonds, all AMT-free — the full-duration version of the tax-free income trade.
Top Holdings
| Ticker | Holding | Weight |
|---|
Fund Details
Investment Thesis
Nearly 4% federal-tax-free — a 6%+ taxable equivalent for top brackets — in exchange for real duration exposure. The long-muni rebound trade and the tax-free income trade in one ticker, with AMT certainty for high earners the index screens in.
Who It's For
High-income investors maximizing tax-free yield who can stomach long-duration volatility, especially those exposed to AMT.
10-Year History
Annual Closing Price
| Year | Close | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | $25.81 | -- |
| 2018 | $24.98 | -3.2% |
| 2019 | $26.46 | +5.9% |
| 2020 | $27.11 | +2.5% |
| 2021 | $27.11 | +0.0% |
| 2022 | $22.94 | -15.4% |
| 2023 | $24.18 | +5.4% |
| 2024 | $23.61 | -2.4% |
| 2025 | $23.19 | -1.8% |
Annual Dividend Yield
| Year | Yield |
|---|---|
| 2016 | -- |
| 2017 | -- |
| 2018 | -- |
| 2019 | -- |
| 2020 | -- |
| 2021 | 0.57% |
| 2022 | 2.68% |
| 2023 | 2.91% |
| 2024 | 3.22% |
| 2025 | 3.55% |
Annual AUM
| Year | AUM | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | -- | -- |
| 2019 | -- | -- |
| 2020 | -- | -- |
| 2021 | -- | -- |
| 2022 | -- | -- |
| 2023 | -- | -- |
| 2024 | -- | -- |
| 2025 | $4.2B | -- |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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