1/12/2010

Fund manager iShares introduced six target-date exchange-traded funds that invest in municipal bonds. The ETFs' maturity dates range from 2012 to 2017. The open-end funds buy callable municipal bonds that are typically exempt from the alternative minimum tax and hold them to maturity. When a bond matures, the proceeds are transferred to cash. The ETFs' expense ratio is 30 basis points.

Full Story:
IndexUniverse.com

Related Summaries