SPDR Nuveen S&P High Yield Municipal Bond ETF (NYSEArca: HYMB)
30-Day SEC Yield: 5.27%
Modified Adjusted Duration: 10 years
Comment: The same factors that have hampered the Market Vectors High-Yield Municipal ETF (NYSEArca: HYD) this year have plagued HYMB. Investors should note these two muni ETFs are vastly different in terms of composition. For example, Texas and California munis combine for just 15.1% of HYD’s weight. California alone is 18.2% of HYMB’s weight.