• Muni Nation

    April 2013

    by James Colby, Portfolio Manager

    Colby is a Senior Municipal Strategist with more than 30 years of fixed income experience, responsible for Market Vectors municipal bond investments.


    White Paper on Muni ETFs: Product Evolution and Innovation from 2007-2012

    White Paper Icon Municipal bond ETFs have begun to move into what I think of as the "mature" stages of a fund’s life. Now that several have five-year track records, some with substantial assets under management, I believe that an independent assessment of this product innovation can potentially provide investors and advisors with insight based on the very same analytical approach and detail they are accustomed to for other asset classes.

    The white paper by Municipal Market Advisors (MMA) offers, in broad terms, MMA’s view to the "utility" of municipal ETFs and possibly identifies municipal ETFs’ competitive positioning relative to other (more traditional) municipal investment options. I hope you will take the time to consider this important work which, in my opinion, currently stands alone in its professional field.

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    Because of its relevance in today’s market, we are making MMA’s report publicly available in its entirety. MMA’s research study was commissioned by Van Eck Associates Corporation (VEAC), sponsor of Market Vectors ETFs. However, VEAC had no input into the findings of MMA’s research study.