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    BNY Mellon Municipal Intermediate ETF (BKMI)

    • CUSIP 05613H704
    • NAV  $ 26.60 As of  03/03/26
    • CHG  $ -0.13 (-0.49 %)
    • MKT PRICE  $26.57 As of  03/03/26
    • CHG  $-0.15 (-0.56 %)
    • TOTAL EXPENSE RATIO 
      0.35% 
      Net
      0.35% 
      Gross
    Overview

    Why invest in this Fund?

    • The fund seeks to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital.
    • To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from U.S. federal income tax.
    • The fund typically invests in municipal and taxable bonds rated investment grade (i.e., Baa3/BBB- or higher) at the time of purchase or, if unrated, deemed of comparable quality by the fund’s sub-adviser. Generally, the average effective duration of the fund's portfolio will be between three and eight years. The fund may invest in individual municipal and taxable bonds of any maturity or duration.
    • Duration is an indication of an investment's "interest rate risk," or how sensitive a bond or the fund's portfolio may be to changes in interest rates. Generally, the longer a bond's duration, the more likely it is to react to interest rate fluctuations and the greater its long-term risk/return potential.
    • The fund’s liquid ETF structure allows investors to buy or sell any time the market is open.
    LISTING DATE
    01/12/26
    INCEPTION DATE
    01/01/87
    NET ASSETS
    $1,779,280,270  As of  03/03/26
    NUMBER OF SHARES OUTSTANDING
    66,885,810  As of  03/03/26
    MARKET PRICE 52-WEEK HIGH
    $26.85  As of  02/27/26
    MARKET PRICE 52-WEEK LOW
    $26.48  As of  01/22/26
    AVG EFFECTIVE DURATION
    5.35 yr(s). As of  01/31/26
    WEIGHTED AVG YIELD TO MATURITY
    3.6% As of  01/31/26
    WEIGHTED AVG MATURITY
    6.22 yr(s). As of  01/31/26
    DISTRIBUTION FREQUENCY
    Monthly
    Number of Holdings
    529 As of  01/31/26
    SUB-ASSET CLASS
    Tax-Exempt
    EXCHANGE
    NASDAQ

    Yields and Expense Ratio

    30-DAY SEC YIELD
    as of 03/03/26      SUBSIDIZED     		UNSUBSIDIZED CURRENT YIELD
    as of  03/03/26     		CONTRACTUAL
    FEE WAIVER END DATE     		PROSPECTUS FEE TABLE EXPENSE RATIO (%)
    as of  12/31/25     NET     		GROSS
    2.78 2.78 2.80 - 0.35 0.35

    Yield fluctuates and past performance is no guarantee of future results.

    The SEC 30-day Yield is calculated by dividing the net investment income per share earned during the period (calculated in accordance with regulatory guidelines) by the maximum offering price per share on the last day of the period.

    Unsubsidized yield displays what the fund's 30-Day SEC Yield would have been had no fee waiver or expense reimbursement been in place during the period.

    Gross Expenses is the total annual operating expense ratio for the fund, before any fee waivers or expense reimbursements. Net Expenses is the total annual operating expense ratio for the fund, after any applicable fee waivers or expense reimbursements. The Gross Expenses, or Net Expenses (if including fee waivers or expense reimbursements) is the actual fund expense ratio applicable to investors.

     

    NAV - A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding.

    Market Price - The market price is the most recent official closing price for the listed exchange.

    Current Yield - (Sum of 30 days of net investment income/sum of 30 days of net assets) * (365*100)

    Avg Effective Duration - It is used to measure the market price sensitivity of the fund’s portfolio holdings to changes in interest-rates. Duration is not a complete measure of bond risk and may not be successful.

    Weighted Avg Yield to Maturity - The averaged total return anticipated on a group of bonds if held until their maturity.

    Weighted Avg Maturity - A measure of the average maturity of all of the underlying security instruments in the fund, weighted to reflect the relative percentage ownership of each instrument, and taking into account applicable “maturity shortening” provisions.

    Portfolio Managers

    • Mary Collette O'Brien

      Mary Collette O'Brien

      Senior Portfolio Manager, Insight North America, LLC

      Managing Fund Since January 2026

      Joined Firm in 1995

      Joined Industry in 1987
    • Thomas Casey

      Thomas Casey

      Senior Portfolio Manager, Insight North America, LLC

      Managing Fund Since January 2026

      Joined Firm in 1993

      Joined Industry in 1988
    Performance

    Daily Statistics

    As of  03/03/26 NAME 30-DAY MEDIAN 
    BID/ASK 
    SPREAD     		PREVIOUS DAY
    VOLUME     		20-DAY AVG 
    VOLUME     		PREMIUM/ 
    DISCOUNT     		YTD
    Total Return
    (NAV)
    BNY Mellon Municipal Intermediate ETF
    		0.26% 52,383 77,608 -0.12% 1.24%

    The performance data quoted represents past performance, which is no guarantee of future results.

     

    30-Day Median Bid-Ask Spread - Gives investors the midpoint within the spread between an ETF’s selling price and buying price. It is calculated over the last 30 days in 10 second intervals by dividing the difference between the bid (sell price) and offer (buy price) by the midpoint of the National Best Bid Offer (NBBO) and identifying the median of those values.

    20-Day Avg Volume - 20-Day Average Volume is the sum of last 20 days of trading volume divided by 20 days.

    Premium / Discount - The amount the fund is trading above or below the reported NAV expressed as a percentage of the NAV. When the fund's market price is greater than the fund's NAV, it is said to be trading at a "Premium" and the percentage is expressed as a positive number. When the fund's market price is less than the fund's NAV, it is said to be trading at a "Discount" and the percentage is expressed as a negative number.

    Total Returns

    Click here for NAV Returns 

    Month End

    MARKET PRICE
    Average Annual
    As of 02/28/26
    Name 3 MO
    02/28/26     		YTD
    02/28/26     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Municipal Intermediate ETF
    BKMI
    		2.02 2.02 5.30 4.38 1.61 2.26 4.56
    Bloomberg Municipal 3-15 Years Blend (3-15) Index
    		- - - - - - -
    S&P Municipal Bond Investment Grade Intermediate Index
    		- - - - - - -

    Quarter End

    MARKET PRICE
    Average Annual
    As of 12/31/25
    Name 3 MO
    12/31/25     		YTD
    12/31/25     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Municipal Intermediate ETF
    BKMI
    		1.42 5.17 5.17 3.99 1.07 2.19 4.53
    Bloomberg Municipal 3-15 Years Blend (3-15) Index
    		1.41 5.51 5.51 3.78 1.08 2.36 -
    S&P Municipal Bond Investment Grade Intermediate Index
    		1.53 5.55 5.55 3.85 1.13 2.34 -

    The performance data quoted represents past performance, which is no guarantee of future results. Share price, yield and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted.

    The performance information shown before January 9, 2026 reflects that of Class M shares of the  BNY Mellon National Intermediate Municipal Bond Fund ("Predecessor Fund"), which had a different fee structure than the fund. The fund's investment objective and strategies are similar to those of the Predecessor Fund; however, there are certain differences.  Generally, the average effective duration of the Predecessor Fund's portfolio did not exceed eight years, and the average effective duration of the fund's portfolio will be between three and eight years. In addition, unlike the Predecessor Fund, the fund may, as a non-principal strategy, invest in bonds that are rated below investment grade for additional yield. The performance returns shown are based on the Predecessor Fund's fee structure and investment strategies. Past performance may have been different if the fund's current fee structure and investment strategies had been in place during the period. The NAV and market price performance of the ETF use the predecessor mutual fund's NAV from inception to listing.

    Market Price performance is calculated using the most recent NASDAQ Official Closing Price. Market Price returns do not represent investors’ returns had they traded shares at other times.

    The Bloomberg Municipal 3-15 Years Blend (3-15) Index is a sub-index of the Bloomberg US Municipal Bond Index, a measure of the US municipal tax-exempt investment grade bond market, tracking bonds with 3-15 year maturities. The Bloomberg U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. Investors cannot invest directly in any index.

    The S&P Municipal Bond Investment Grade Intermediate Index consists of bonds in the S&P Municipal Bond Index that are rated at least BBB- by Standard & Poor's, Baa3 by Moody's or BBB- by Fitch Ratings. All bonds must also have a minimum maturity of 3 years and a maximum maturity of up to, but not including, 15 years as measured from the rebalancing date. Investors cannot invest directly in any index.

    The Bloomberg Municipal 3-15 Years Blend (3-15) Index is the performance-based benchmark for the BNY Mellon Municipal Intermediate ETF. The S&P Municipal Bond Investment Grade Intermediate Index was the performance-based benchmark for the Predecessor Fund.

    “BLOOMBERG®” and the Bloomberg indices listed herein (the “Indices”) are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the Indices (collectively, “Bloomberg”) and have been licensed for use for certain purposes by the distributor hereof (the “Licensee”). Bloomberg is not affiliated with Licensee, and Bloomberg does not approve, endorse, review, or recommend the financial products named herein (the “Products”). Bloomberg does not guarantee the timeliness, accuracy, or completeness of any data or information relating to the Products.

    Growth of $10,000 Investment

    Past performance is no guarantee of future results.

    Historical NAV and Market Price

      Historical Premium/Discount

      Premium and Discount Summary Table

      As of  03/03/26
      Days Traded at Premium
      Days Traded at Discount

      The table shows the number of trading days in which the fund traded at a premium or discount to its closing NAV.  Past results are not indicative of future results.

      Fees & Expenses

      Prospectus Fee Table Expense Ratios

      Fees as stated in the prospectus  Fee Description Total Expense Ratio (%)
      Management Fee 0.35%
      Other Expenses 0.00%
      Total Expenses 0.35%
      Net Expenses 0.35%

      The Total Expenses is the actual fund expense ratio applicable to investors.

      Portfolio

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon ETF Investment Adviser, LLC (BNYETF) and the fund's sub-adviser is Insight North America LLC (INA), an affiliate of BNYETF. Thomas Casey and Mary Collette O'Brien are the primary portfolio managers of the fund, positions they have held since January 2026. Mr. Casey is a senior portfolio manager at INA. Ms. O'Brien is a senior portfolio manager at INA and has been a primary portfolio manager of the Predecessor Fund March 2006. Each portfolio manager is jointly and primarily responsible for the day-to-day management of the fund's portfolio.

      Top Holdings

      Download Total Holdings
      As of 03/04/26
      Holdings % Portfolio Weight
      MARICOPA IDA-B-REF 5 1/1/2034 1.01
      IL ST-REV-B 5 6/15/2039 0.94
      RHODE ISLAND ST -A 5 8/1/2038 0.88
      NY LIBERTY DEV CORP-1 5 11/15/2044 0.87
      PORTLAND SWR-A 4.5 5/1/2037 0.77
      WA ST-SER R-2023B-REF 5 7/1/2038 0.74
      TOBACCO SETTLEMENT-A 5 6/1/2033 0.70
      MIAMI-DADE CO EDU-B 5.25 4/1/2036 0.66
      CT HLTH & EDUCTNL-B-2 FRN 7/1/2064 0.64
      MET TRANSPRTN AUTH-A 5 11/15/2037 0.64
      TX TRANSPRTN-C-REF 5 8/15/2036 0.64
      TX TRANSPRTN COMM-REF 5 10/1/2040 0.63
      MAIN STREET NATURAL-C FRN 12/1/2054 0.63
      TARRANT CO EDU FACS-C FRN 11/15/2064 0.63
      DASNY-A-1-UNREF 5 3/15/2040 0.63
      NEW YORK 5 8/1/2030 0.62
      CLARK CO 5 7/1/2040 0.62
      CA CMNTY CHOICE FIN-F 5 11/1/2033 0.62
      KY PUB ENERGY-A FRN 5/1/2055 0.60
      SOUTHEAST ENERGY AUTH FRN 1/1/2054 0.60
      ILLINOIS ST-D 5 11/1/2028 0.59
      CHICAGO IL-A-REF 5 1/1/2034 0.59
      CHICAGO PK DT-C 4 1/1/2034 0.59
      TOBACCO SETTLEMENT-A 5 6/1/2032 0.59
      TOBACCO SETTLEMENT-A 5 6/1/2034 0.59
      PA TPK 2ND SER SPL 5 12/1/2038 0.58
      TX WTR DEV BRD-B 4 10/15/2037 0.57
      MAIN STREET NATURAL FRN 7/1/2052 0.57
      MET TRANSPRTN AUTH NY 5 11/15/2031 0.57
      VT EDU HLTH BLDG FIN 5 12/1/2032 0.56
      BAY AREA TOLL AUTH-A FRN 4/1/2045 0.56
      CENTRL PUGET-S-1-REF 3 11/1/2036 0.55
      NJ EDUCTNL FACS-A FRN 7/1/2064 0.33
      NY ST MTGE AGY -220 2.4 10/1/2034 0.54
      JACKSONVILLE HSG AUTH 5 2/1/2034 0.53
      PHILADELPHIA HSG-A 5.25 3/1/2039 0.52
      DT OF COLUMBIA-B-REF 5 6/1/2039 0.52
      MET TRANS AUTH -B-1 5 11/15/2036 0.51
      CALIFORNIA ST-REF 3 9/1/2030 0.51
      TRIBOROUGH BRIDGE-CAB 0 11/15/2029 0.51
      TEXAS ST MUNI GAS ACQ FRN 1/1/2054 0.51
      NY CITY TRANS FIN-F-1 5 2/1/2039 0.50
      WI CENTER DT-REF 5 12/15/2034 0.49
      BLACK BELT ENERGY GAS FRN 5/1/2053 0.48
      BLACK BELT ENERGY GAS FRN 11/1/2053 0.48
      CHICAGO-C-REF-AMT 5 1/1/2028 0.48
      CHICAGO-A-REF 5 1/1/2029 0.47
      MIAMI DADE CO -C -REV 4 4/1/2037 0.47
      TX MUNI GAS ACQ VI 5 1/1/2036 0.46
      WI CENTER DT-REF 5 12/15/2033 0.46
      MAIN STREET NATURAL-E FRN 5/1/2055 0.46
      SALES TAX SECURITIZTN 5 1/1/2038 0.45
      MA DEV FIN AGY-T-2 FRN 10/1/2055 0.45
      CA CMNTY CHOICE FING FRN 5/1/2054 0.45
      TARRANT CO CULTURAL-G FRN 11/15/2055 0.45
      MET WA ARPT AUTH-A-RE 5 10/1/2032 0.45
      E BATON ROUGE INDL-A FRN 8/1/2035 0.42
      SACRAMENTO WTR SER B FRN 6/1/2034 0.42
      LOS ANGELES DEPT OF W 5 7/1/2038 0.42
      ILLINOIS ST-REF 4 2/1/2030 0.41
      PENNSYLVANIA ST -143A 4.95 10/1/2038 0.40
      OR BUS DEV COMMN-232 FRN 12/1/2040 0.40
      MET TRANSPRTN AUTH-B 5 11/15/2034 0.40
      MA DEV FIN AUTH-U-2 FRN 3/1/2048 0.39
      NYC MUNI WTR-BB FRN 6/15/2051 0.39
      CA HLTH FACS-A 4 3/1/2033 0.39
      LOWER CO RIVER AUTH-B FRN 5/15/2045 0.39
      IN FIN AUTH-D-4-REF FRN 10/1/2057 0.39
      MIAMI-DADE CO-A-AMT 5 10/1/2034 0.39
      LAS VEGAS VLY WTR DT 4 6/1/2036 0.37
      NEW YORK ST MTGE AGY 2.65 10/1/2034 0.37
      COLUMBUS REGL ARPT-A 5 1/1/2031 0.36
      PHILADELPHIA HSG-A 5 3/1/2036 0.36
      ILLINOIS ST-B 5 12/1/2030 0.36
      UTICA CMNTY SCH 5 5/1/2033 0.35
      MET NASHVILLE TN ARPT 5 7/1/2039 0.35
      DC-KIPP-SER A-REF 5 7/1/2042 0.35
      CENTRL TX REGL ETC-D 4 1/1/2035 0.35
      TX WTR DEV BRD -REV 4.5 10/15/2037 0.35
      BUILD NYC RESOURCE 5 7/1/2040 0.35
      OREGON ST HLTH & SCIE FRN 7/1/2046 0.34
      GTR TEXOMA UTIL AUTH 5 10/1/2039 0.34
      MA DEV FIN AGY-A FRN 11/1/2055 0.33
      MO HLTH & EDUCTNL-C FRN 4/1/2059 0.32
      CLIFTON HGR EDU FIN 5 8/15/2039 0.32
      PHILADELPHIA HSG-A 5 3/1/2033 0.32
      MD HLTH HGR AUTH-B FRN 8/15/2056 0.32
      OK TPK AUTH-A 5 1/1/2039 0.32
      DALLAS & FORT-C-REF 5 11/1/2031 0.31
      MI FIN AUTH-B-1-REF FRN 8/15/2055 0.31
      GOLDEN ST TOBACCO-A1 4.214 6/1/2050 0.31
      SC JOBS-ECON DEV-B-1 FRN 11/1/2055 0.31
      MINNEAPOLIS ST PAUL-B 5 1/1/2039 0.31
      BLACK BELT ENERGY GAS FRN 12/1/2053 0.31
      INDIANA FIN AUTH-B2 FRN 10/1/2060 0.31
      CA MUNI AUTH-1-A-1 4.05 7/20/2041 0.31
      MAIN STREET NATURAL-D FRN 4/1/2054 0.30
      KY PUB ENERGY AUTH-C 5 5/1/2036 0.30
      LOS ANGELES DEPT WTR 5 7/1/2041 0.13
      BLACK BELT-SER-C FRN 5/1/2055 0.30
      CA HLTH FACS FING HLT 5 11/15/2049 0.30
      KY PUB ENERGY AUTH-A FRN 6/1/2055 0.30
      GEISINGER PA AUTH HLT FRN 4/1/2043 0.30
      FW TEXAS STREET PUB 5 5/1/2038 0.30
      CA CMNTY CHOICE FIN-C FRN 12/1/2055 0.30
      CENTRL PLAINS-A FRN 5/1/2054 0.30
      DENVER CITY & CNTY CO 5 11/15/2028 0.30
      NEW YORK-C 5.25 3/1/2047 0.30
      DU PAGE ETC HSD #86 4 1/15/2035 0.30
      NY ENERGY FIN DEV FRN 7/1/2056 0.30
      MAIN STREET NATURAL-B FRN 12/1/2052 0.30
      PENNSYLVANIA ST 3 5/15/2034 0.29
      MARYLAND-A 4 3/15/2035 0.29
      NY & NJ PORT AUTH-234 5.25 8/1/2047 0.29
      TRIBOROUGH BRIDGE-A 4 11/15/2037 0.29
      RI HLTH & EDUCTNL-C 5 5/15/2042 0.29
      CHANDLER AZ INDL DEV FRN 6/1/2049 0.29
      PA ST UNIV-A 5 9/1/2042 0.29
      DASNY -A-REF 4 3/15/2038 0.29
      HOUSTON TX CMNTY CLG 4 2/15/2036 0.29
      TARRANT CO CULTURAL-E 5 11/15/2040 0.29
      SNOHOMISH CO-REF-A 2 12/1/2032 0.28
      PENNSYLVANIA ST-1ST 3.5 3/1/2031 0.28
      N TX TOLLWAY AUTH REV 4 1/1/2034 0.28
      DC-KIPP-SER A-REF 5 7/1/2037 0.28
      UNIV OF AKRON-A-REF 5 1/1/2033 0.28
      MA DEV FIN AGY-A 5 10/1/2033 0.28
      OKLAHOMA CITY 2 3/1/2029 0.28
      MTA HUDSON RAIL YRD-A 5 11/15/2051 0.28
      WAXAHACHIE ISD-REF 4 8/15/2037 0.28
      MET GOVT NASHVILLE 2.5 1/1/2029 0.28
      NEVADA-A 3 5/1/2035 0.28
      TAMPA-C-REV-BAM 3 10/1/2036 0.28
      WI CENTER DT-REF 5 12/15/2032 0.27
      KANSAS CITY-C-REF 5 4/1/2038 0.27
      MICHIGAN FIN AUTH D-2 FRN 10/15/2038 0.27
      E BATON ROUGE PARISH FRN 2/1/2041 0.27
      KING CO HSG AUTH-A-1 5 1/1/2028 0.27
      PA HSG FIN AGY-122 3.65 10/1/2032 0.26
      WA HLTH FACS AUTH-A 5 3/1/2036 0.26
      CONNECTICUT ST 4 1/15/2037 0.26
      OHIO ST-REV-REF 4 10/1/2037 0.26
      NYC TRANSITIONAL-F-1 5 11/1/2033 0.26
      NY LIBERTY DEV CORP-A 1.45 11/15/2029 0.26
      DT OF COLUMBIA-B-REF 5 6/1/2040 0.26
      TARRANT CULTURAL-C-2 FRN 11/15/2051 0.26
      NYC MUNI WTR-AA3-ADJ FRN 6/15/2049 0.25
      WI HLTH & EDU FACS-A FRN 2/15/2050 0.25
      FORT BEND GRAND PKWY 3 3/1/2035 0.25
      MINNEAPOLIS ST PAUL-B 5 1/1/2031 0.25
      ID HLTH FACS AUTH-B FRN 3/1/2060 0.25
      CHICAGO PK DT-C 4 1/1/2035 0.24
      NY LIBERTY DEV CORP 3 2/15/2042 0.24
      IPS MULTI-SCH BLDG 5 7/15/2037 0.06
      LOWER COLORADO RIVER 5 5/15/2044 0.24
      ILLINOIS FIN AUTH-A-1 FRN 8/15/2054 0.24
      DELAWARE VLY REGL-A 4 12/1/2036 0.24
      FORT BEND GRAND PKWY 3 3/1/2036 0.24
      RHODE ISLAND HSG MTGE 3 10/1/2051 0.24
      PA HGR ED-AT-1-UNREF 5 6/15/2029 0.24
      MN HGR EDU FACS-A 5 10/1/2039 0.23
      MET WA ARPT AUTH-A-RE 5 10/1/2027 0.23
      MET WA ARPTS AUTH-A 5 10/1/2031 0.23
      NEBO SD-REF 2 7/1/2033 0.23
      CT ST HLTH & EDUCTNL 4 7/1/2035 0.23
      WASHOE CO-REF-B FRN 3/1/2036 0.23
      CA MUNI FIN AUTH-A 5 10/1/2040 0.23
      LOWER COLORADO RIVER 5 5/15/2041 0.23
      MD DEPT TRANSPRTN-A 3 10/1/2031 0.23
      KY COMMONWEALTH-A 5 4/1/2045 0.23
      WISCONSIN ST-A-REF 5 11/15/2039 0.23
      CHICAGO TRANSIT-A 5 12/1/2042 0.22
      PHOENIX CIVIC IMPT 5 7/1/2028 0.22
      ILLINOIS ST-B 5 5/1/2037 0.22
      CA CMNTY CHOICE FING FRN 7/1/2053 0.22
      GA MUNI ELEC AUTH-A 5 1/1/2035 0.21
      PA ECON DEV-A 4 11/15/2036 0.21
      ROANOKE VA ECON DEV FRN 7/1/2052 0.21
      CHICAGO-B-REV 5 1/1/2040 0.21
      ALIEF ISD 4 2/15/2039 0.21
      DASNY -A -REV -REF 4 3/15/2034 0.21
      W VIRGINIA HOSP FIN-B FRN 6/1/2055 0.20
      KANSAS CITY MO INDL D 4 3/1/2034 0.20
      FLORIDA ST MUNI PWR A 3 10/1/2033 0.20
      DELAWARE VLY REGL-A 4 12/1/2038 0.20
      ALIEF ISD 4 2/15/2040 0.20
      NY LIBERTY DEV CORP-2 5.15 11/15/2034 0.20
      MAINE GOV FAC AUTH-A 5 10/1/2037 0.20
      OK INDUSTRIES AUTH 5 4/1/2033 0.19
      NYC TRANSITIONAL-A-1 5.25 5/1/2048 0.19
      DT OF COLUMBIA-B-REF 5 6/1/2041 0.19
      MIAMI-DADE CO-A-AMT 5 10/1/2035 0.19
      ILLINOIS ST TOLL HIGH 5 1/1/2042 0.19
      ILLINOIS ST-B 5 5/1/2036 0.19
      UTAH ST CHRT SCH FIN 5 10/15/2045 0.19
      IPS MULTI-SCH BLDG 5 7/15/2038 0.11
      IL UNIV-A-REV-REF 5.25 4/1/2043 0.18
      CA CMNYY CHOICE-F FRN 2/1/2055 0.18
      NEW HAVEN USD CABS 0 8/1/2033 0.18
      SOUTHEAST ENERGY-E 5 10/1/2030 0.18
      SAN ANTONIO-C 5 2/1/2035 0.18
      AZ IDA SR LIVING-A2 5.125 1/1/2059 0.18
      CA CMNTY CHOICE FING FRN 1/1/2054 0.18
      DIST OF COLUMBIA REVE 5 6/1/2036 0.18
      MARICOPA CNTY AZ INDL 5 1/1/2035 0.17
      ALASKA ST-B-REF 5 10/1/2031 0.17
      COLORADO ST COPS-A 4 12/15/2036 0.17
      PORT OF SEATTLE WA-C 5 8/1/2030 0.17
      NM ST MTGE FIN AUTH-D 5.3 9/1/2048 0.17
      MET NASHVILLE ARPT-A 5 7/1/2043 0.17
      TARRANT CNTY CULT EDU FRN 7/1/2053 0.17
      ILLINOIS FIN AUTH-B-2 FRN 5/15/2050 0.17
      NEW YORK CITY NY HSG 3.375 11/15/2029 0.17
      PA HSG FIN-118B 3.8 10/1/2035 0.17
      PENNSYLVANIA ST 3 5/15/2035 0.17
      NY CITY TRANS FIN-F-1 5 2/1/2045 0.16
      TEXAS ST PRIV ACTIVIT 4 6/30/2032 0.16
      CHICAGO IL PARK DT-B 5 1/1/2035 0.16
      CONNECTICUT HSG-D-REF 5 11/15/2039 0.16
      OHIO ST-REV-REF 4 10/1/2042 0.16
      SC PUB SVC AUTH-A-REF 4 12/1/2037 0.16
      SC JOBS-ECON DEV-B-2 FRN 11/1/2049 0.16
      MIAMI-DADE CO-A-AMT 5 10/1/2036 0.16
      ALASKA HSG FIN CORP-A 3 6/1/2051 0.16
      KNOXVILLE 3 5/1/2036 0.16
      ID HLTH FACS AUTH-C FRN 3/1/2060 0.16
      CA CMNTY CHOICE FIN-H FRN 1/1/2056 0.16
      MESQUITE HSG FIN CORP FRN 8/1/2029 0.16
      WA HLTH FACS AUTH-A 5 3/1/2037 0.16
      CASINO REINVESTMENT-A 5 11/1/2033 0.15
      GTR TEXOMA UTILITY-A 5 10/1/2041 0.15
      RI HLTH & EDUCTNL-C 5 5/15/2041 0.15
      INDIANA ST FIN AUTH FRN 11/1/2049 0.15
      KY COMMONWEALTH-A 5 4/1/2043 0.15
      CASINO REINVESTMENT-A 5 11/1/2034 0.15
      CONNECTICUT ST-A 5 3/15/2036 0.15
      WA HLTH CARE-B-REF 5 10/1/2032 0.15
      DC HSG FIN AGY-A-2 FRN 9/1/2046 0.15
      OREGON ST -E 5 6/1/2040 0.15
      PHILADELPHIA PA ARPT 5 7/1/2028 0.15
      SALT LAKE ARPT REV-A 5 7/1/2029 0.14
      MICHIGAN ST FIN AUTH 4 12/1/2035 0.14
      LOUDOUN IDA VAR-E-HOW FRN 2/15/2038 0.14
      NEW YORK TRANSPRTN-A 5 7/1/2046 0.14
      OMAHA ARPT AUTH-AMT 5 12/15/2031 0.14
      PORT OF SEATTLE WA-B 5.25 7/1/2039 0.14
      SALT LAKE ARPT REV-A 5 7/1/2031 0.14
      KANSAS CITY-C-REF 5 4/1/2039 0.14
      SEARCY-REV 4 11/1/2036 0.14
      OHIO AIR QUALITY DEV FRN 6/1/2041 0.14
      SARASOTA -REV 5 9/1/2043 0.14
      MASSACHUSETTS-A-REF 5 7/1/2035 0.13
      MA ED FIN AUTH-B-AMT- 5 7/1/2029 0.13
      ANSONIA-COPS 4.125 12/1/2034 0.13
      WA HLTH FACS AUTH-A 5 3/1/2038 0.13
      CONNECTICUT ST-A 5 3/15/2033 0.13
      SARASOTA -REV 5 9/1/2041 0.13
      SAN FRANCISCO CITY -A 5 5/1/2032 0.13
      ILLINOIS ST-A 5 3/1/2032 0.13
      CHICAGO-C-REF-REV 5 1/1/2041 0.13
      DENVER CITY & CNTY CO 5 11/15/2033 0.13
      IL FIN AUTH-A 5 10/1/2039 0.13
      DALLAS -REV -REF 4 8/15/2028 0.13
      HOUSTON-A-REF 3 3/1/2037 0.12
      SALEM HOSP FAC-A-REF 5 5/15/2038 0.12
      ST CLOUD-REF-REV 5 5/1/2041 0.12
      WILLIAMSON CNTY TN 3.1 4/1/2035 0.12
      SANTA MARIA UN HSD 3 8/1/2040 0.12
      GTR TEXOMA UTILITY-A 5 10/1/2036 0.12
      ST CLOUD-REF-REV 5 5/1/2042 0.12
      IL UNIV-A-REV-REF 5.25 4/1/2044 0.12
      S W ISD 5 2/1/2041 0.12
      WAWASEE HS BLDG CORP 5 7/15/2041 0.12
      NORTHWEST ISD-A 5 2/15/2039 0.12
      MAIN ST NAT GAS INC-D FRN 5/1/2054 0.12
      FAIR LAWN NJ 2 9/1/2029 0.12
      INDIANA FIN AUTH EDUC 4 2/1/2034 0.12
      S W ISD 5 2/1/2040 0.12
      STHRN CA TOBACCO -REF 5 6/1/2037 0.12
      CHESTER HLTH & EDU-A 4 10/1/2037 0.12
      CONNECTICUT ST-A 5 3/15/2040 0.12
      MA ED FIN AUTH-B-AMT- 5 7/1/2028 0.12
      WILL FOREST PERSERVE 5 12/15/2043 0.12
      REGL CO TRANS DT-A 5 7/15/2031 0.12
      NEBRASKA ST INVESTMEN 5.5 9/1/2053 0.12
      SALT LAKE ARPT REV-A 5 7/1/2030 0.12
      OMAHA ARPT AUTH-AMT 5 12/15/2030 0.12
      RI HLTH EDU BLDG CORP 5 11/1/2047 0.12
      KANSAS CITY MO INDL D 4 3/1/2035 0.12
      GUAM GOVT-A-REF 5 12/1/2028 0.11
      GUAM GOVT-A-REF 5 12/1/2029 0.11
      DASNY-A-REF 4 5/1/2039 0.11
      CHICAGO PARK DIST-F-2 4 1/1/2038 0.11
      TEXAS ST PUBLIC FIN A 4 2/1/2039 0.11
      DALLAS -REV -REF 4 8/15/2035 0.11
      DALLAS -REV -REF 4 8/15/2038 0.11
      NEW YORK TRANSPRTN-A 5 7/1/2041 0.11
      NYC-VAR-SUBSER A-2 FRN 10/1/2038 0.11
      OH WTR DEV AUTH-C FRN 12/1/2054 0.11
      CHICAGO-A-AMT-REV 5 1/1/2038 0.11
      HOWARD CO MD HSG COMM 1.2 6/1/2027 0.11
      SUSSEX CNTY 2 6/15/2029 0.11
      CHICAGO-A-AMT-REV 5 1/1/2037 0.10
      SUSSEX CNTY 2 6/15/2030 0.10
      HIDALGO CO-A 4 12/1/2038 0.10
      CASINO REINVESTMENT-A 5 11/1/2035 0.10
      CHICAGO-B-REV 5 1/1/2041 0.10
      OK TPK AUTH-B-REF 5 1/1/2032 0.10
      NEWARK HGR EDU FIN-A 5 8/15/2039 0.10
      LA DEPT OF WTR-B-REF 5 7/1/2037 0.10
      TULSA CO IND AUTH 5 9/1/2032 0.10
      ALASKA ST-B-REF 5 10/1/2030 0.10
      HONOLULU CITY & C0-A 5 7/1/2035 0.10
      CT ST HLTH EDU-R 3.25 7/1/2035 0.10
      TROY NY CAPITAL RESO 5 9/1/2031 0.10
      AZ INDL DEV AUTH-A 4 11/1/2049 0.10
      RI HLTH & EDUCTNL 5 5/15/2041 0.10
      COLORADO HFA-B 3.75 5/1/2050 0.10
      MD TRANSPRTN DEPT -A 5 8/1/2032 0.10
      CLARK PLEASANT CMNTY 5 7/15/2041 0.10
      VAN ALSTYNE ISD 5 2/15/2044 0.09
      PR ELEC 5.25 7/1/2018 0.09
      L'ANSE CREUSE PUB-I 5 5/1/2042 0.09
      COOK CO HIGH SD #207 3 12/1/2032 0.09
      MET TRANSPRTN AUTH NY 5 11/15/2037 0.09
      ERNEST N MORIAL-NEW O 5 7/15/2037 0.09
      VAN ALSTYNE ISD 5 2/15/2043 0.09
      WADSWORTH SD 3 12/1/2045 0.09
      NTHRN IN COMMUTER-REV 5 1/1/2044 0.09
      TWIN LAKES SBC 5 1/15/2044 0.09
      VAN ALSTYNE ISD 5 2/15/2042 0.09
      HAWAII ST-A-AMT-REV 5 7/1/2030 0.09
      COOK CO CUSD #401 -A 4 12/1/2029 0.09
      HIDALGO CO-A 4 12/1/2037 0.09
      TEXAS ST PRIV ACTIVIT 4 6/30/2034 0.09
      CASINO REINVESTMENT-A 5 11/1/2032 0.09
      TEXAS ST PRIV ACTIVIT 4 12/31/2034 0.09
      CASINO REINVESTMENT-A 5 11/1/2031 0.09
      DUPAGE SD #60-A 4 12/30/2032 0.09
      ERNEST N MORIAL-NEW O 5 7/15/2036 0.09
      CALIFORNIA CMNTY CHOI FRN 2/1/2052 0.09
      MD TRANSPRTN DEPT -A 5 8/1/2031 0.09
      ALAMEDA CORRIDOR-B 5 10/1/2036 0.09
      COLUMBUS REGL ARPT-A 5 1/1/2030 0.09
      VAN ALSTYNE ISD 5 2/15/2041 0.08
      MD TRANSPRTN DEPT -A 5 8/1/2029 0.08
      CHICAGO-A-AMT-REV 5 1/1/2036 0.08
      NEW YORK-D-1 4 3/1/2042 0.08
      WILL FOREST PERSERVE 5 12/15/2044 0.08
      REGL CO TRANS DT-A 5 1/15/2029 0.08
      HOUSTON-A-REF 3 3/1/2036 0.08
      RI HLTH & EDUCTNL-C 5 5/15/2040 0.08
      MD HLTH & HGR EDU-A 5 7/1/2038 0.08
      CALIF CMNTY FIN-E-1 FRN 2/1/2054 0.08
      CASINO REINVESTMENT-A 5 11/1/2036 0.08
      REGL CO TRANS DT-A 5 1/15/2032 0.08
      RI HSG MTGE FIN CORP 4 10/1/2049 0.08
      PENNSYLVANIA ST HGR E 4 6/15/2032 0.08
      WADSWORTH SD 4 12/1/2056 0.08
      IOWA ST FIN AUTH-C 5 8/1/2037 0.08
      WINDSOR CT 2 6/15/2029 0.08
      WINDSOR CT 2 6/15/2030 0.08
      TEXAS ST PRIV ACTIVIT 4 6/30/2035 0.08
      WILL FOREST PERSERVE 5 12/15/2040 0.08
      SHREVEPORT 5 3/1/2044 0.08
      NEW MEXICO MTG FIN-A 3 3/1/2053 0.08
      MD TRANSPRTN DEPT -A 5 8/1/2033 0.07
      COLORADO ST HSG & FIN 4.25 11/1/2049 0.07
      CHICAGO PARK DIST-F-2 4 1/1/2036 0.07
      MET WASHINGTON DC-B 4 10/1/2036 0.07
      TEXAS ST PRIV ACTIVIT 4 12/31/2035 0.07
      FAYETTE CO DEV AUTH 5 10/1/2043 0.07
      NY CITY NY HSG DEV 2.15 11/1/2028 0.07
      TEXAS ST PRIV ACTIVIT 4 12/31/2033 0.07
      GUAM WTRWKS AUTH-A 5.25 7/1/2040 0.07
      AR DEV FIN AUTH 5 2/1/2031 0.07
      GA MUNI ELEC AUTH-A 5 1/1/2039 0.07
      PEWITT CONSOLIDATED I 5 2/15/2039 0.07
      CALIFORNIA ST HLTH FA 3 11/1/2036 0.07
      OMAHA ARPT AUTH-AMT 5 12/15/2029 0.07
      OKLAHOMA CITY 3 3/1/2038 0.07
      AR DEV FIN AUTH 5 2/1/2030 0.07
      MARYLAND ST CMNTY DEV 4 9/1/2049 0.07
      TRIBOROUGH NY BRIDGE 4 11/15/2037 0.07
      TULSA CO IND AUTH 5 9/1/2033 0.07
      SARASOTA -REV 5 9/1/2042 0.07
      CO BRIDGE &TUNNEL-A 5 12/1/2035 0.07
      CLIFTON HGR EDU FIN-T 4 8/15/2035 0.07
      GUAM WTRWKS AUTH-A 5.25 7/1/2041 0.07
      MD HLTH & HGR EDU-A 5 7/1/2037 0.07
      FAYETTE CO DEV AUTH 5 10/1/2042 0.07
      JORDAN UT SD 2 6/15/2033 0.06
      TN ENERGY ACQ CORP-A- FRN 5/1/2053 0.06
      JORDAN UT SD 2 6/15/2032 0.06
      IOWA ST FIN AUTH-C 5 8/1/2040 0.06
      CASINO REINVESTMENT-B 5 11/1/2033 0.06
      COLUMBUS MULTI-SCH BL 5 1/15/2044 0.06
      LOS ANGELES CA DEPT-A 5 7/1/2040 0.06
      SHREVEPORT 5 3/1/2039 0.06
      GOVT OF GUAM-G-REF 5 1/1/2034 0.06
      LOS ANGELES CA DEPT-A 5 7/1/2041 0.06
      WEBSTER CSD 2 6/15/2030 0.06
      GOVT OF GUAM-G-REF 5 1/1/2033 0.06
      COLUMBUS MULTI-SCH BL 5 7/15/2041 0.06
      SHREVEPORT 5 3/1/2041 0.06
      CASINO REINVESTMENT-A 5 11/1/2030 0.06
      GOVT OF GUAM-G-REF 5 1/1/2032 0.06
      KING CO HSG AUTH -REF 5 7/1/2040 0.06
      SOUTHEAST ENERGY AUTH FRN 5/1/2053 0.06
      SARASOTA -REV 5 9/1/2040 0.06
      AZ INDL DEV AUTH-A 5 11/1/2034 0.06
      GOVT OF GUAM-G-REF 5 1/1/2031 0.06
      GUAM WTRWKS AUTH-A 5.25 7/1/2042 0.06
      FAYETTE CO DEV AUTH 5 10/1/2044 0.06
      FAYETTE CO DEV AUTH 5 10/1/2039 0.06
      ALLEGHENY CO HGR EDU 5 3/1/2029 0.06
      MET NASHVILLE TN ARPT 5 7/1/2033 0.06
      PHILADELPHIA INDL DEV 5 11/1/2029 0.06
      REGL CO TRANS DT-A 5 1/15/2030 0.06
      HIDALGO CO-A 5 12/1/2031 0.06
      SE ENERGY AUTH-C 5 11/1/2029 0.06
      CONNECTICUT ST HLTH-M 4 7/1/2038 0.06
      PHILADELPHIA INDL DEV 5 11/1/2028 0.06
      AR DEV FIN AUTH 5 2/1/2029 0.06
      NJ ECON DEV AUTH-QQQ 4 6/15/2034 0.06
      CHICAGO PK DT-C 4 1/1/2032 0.06
      CHICAGO BOE-A-REF 5 12/1/2035 0.06
      DIST OF COLUMBIA-B 5 7/1/2037 0.06
      ILLINOIS FIN AUTH-A 5 9/1/2032 0.06
      NEW JERSEY ST-A 3 6/1/2032 0.06
      MD HLTH & HGR EDU-A 5 7/1/2040 0.06
      FL DEV FIN CORP-A 5 6/15/2035 0.06
      CAPE GIRARDEAU CO-REF 5 6/1/2026 0.06
      MET WASHINGTON DC-B 4 10/1/2038 0.06
      DALLAS -REV -REF 4 8/15/2036 0.06
      DALLAS -REV -REF-AG 4 8/15/2038 0.06
      MA H/E VAR-MUSEUM-A1 FRN 12/1/2037 0.06
      CHICAGO PK DT-D-REF 4 1/1/2032 0.06
      AZ INDL DEV AUTH-A 5 11/1/2033 0.06
      ILLINOIS FIN AUTH-A 5 9/1/2031 0.06
      DELAWARE VLY PA REGL 2 10/1/2029 0.05
      MD TRANSPRTN DEPT -A 5 8/1/2027 0.05
      ARIZONA ST INDL DEV-A 5 7/1/2035 0.05
      DANBURY HGR EDU AUTH 4.75 8/15/2034 0.05
      AZ INDL DEV AUTH-A 5 11/1/2035 0.05
      ARIZONA IND DEV AUTH 3 7/1/2037 0.05
      ILLINOIS FIN AUTH-A 5 9/1/2030 0.05
      MET NASHVILLE ARPT-A 5 7/1/2040 0.05
      NEVADA ST-A 4 4/1/2049 0.05
      CLARKSVILLE BLDG-VAR FRN 7/1/2031 0.05
      HONOLULU CITY & C0-A 5 7/1/2034 0.05
      WA HGR EDU FACS AUTH 5 5/1/2031 0.05
      FAYETTE CO DEV AUTH 5 10/1/2040 0.05
      ILLINOIS FIN AUTH-A 5 9/1/2035 0.05
      INDIANA ST FIN AUTH 5 11/1/2028 0.05
      PA HGR ED-AT-1-PREREF 5 6/15/2029 0.05
      FAYETTE CO DEV AUTH 5 10/1/2041 0.04
      ILLINOIS FIN AUTH-A 5 9/1/2034 0.04
      MD TRANSPRTN DEPT -A 5 8/1/2034 0.04
      ARIZONA IND DEV AUTH 3 7/1/2036 0.04
      INDIANA ST FIN AUTH 5 11/1/2027 0.04
      NTHRN IN COMMUTER-REV 5 1/1/2043 0.04
      ARIZONA IND DEV AUTH 3 7/1/2035 0.04
      ILLINOIS FIN AUTH-A 5 9/1/2033 0.04
      ARIZONA IND DEV AUTH 3 7/1/2034 0.04
      MONTGOMERY CNTY OH 4 8/1/2037 0.04
      LOS ANGELES CA DEPT-A 5 7/1/2042 0.04
      ST LAWRENCE CNTY N Y 5 9/1/2032 0.04
      PASSAIC CO IMPT AUTH 4.125 7/1/2033 0.03
      IDAHO ST HLTH FACS AU 4 3/1/2033 0.03
      RHODE ISLAND HSG MTGE 5 4/1/2029 0.03
      WA HGR EDU FACS AUTH 5 5/1/2032 0.03
      MONTGOMERY CNTY OH 5 8/1/2036 0.03
      HIDALGO CO-A 5 12/1/2033 0.03
      HIDALGO CO-A 5 12/1/2030 0.03
      STHRN CA TOBACCO -REF 5 6/1/2034 0.03
      ILLINOIS ST-A 5 3/1/2031 0.03
      WA HGR EDU FACS AUTH 5 5/1/2029 0.03
      AR DEV FIN AUTH 5 2/1/2032 0.03
      MT FAC FIN AUTH-2022A 5 8/15/2027 0.03
      WA HGR EDU FACS AUTH 5 5/1/2027 0.03
      SE ENERGY AUTH-C 5 11/1/2026 0.03
      DANBURY HGR EDU AUTH 4 8/15/2049 0.03
      PA HSG FIN AGY-122 4 10/1/2046 0.03
      WASHINGTON HLTH CARE 3 12/1/2035 0.02
      WASHINGTON HLTH CARE 3 12/1/2034 0.02
      OH HSG FIN AGY-D 4 3/1/2047 0.02
      IDAHO ST HLTH FACS AU 4 3/1/2034 0.02
      OR COAST COMNTY-CONV 5 6/15/2032 0.02
      MT BRD OF HSG-A-2 3.5 6/1/2044 0.02
      TN HSG FIN AGY-B2 4 1/1/2042 0.02
      CA MUNI FIN AUTH 4 1/1/2036 0.02
      CASH 0.02
      OR COAST COMNTY-CONV 5 6/15/2031 0.02
      OR COAST COMNTY-CONV 5 6/15/2034 0.02
      OR COAST COMNTY-CONV 5 6/15/2033 0.02
      HIDALGO CO-A 5 12/1/2032 0.02
      CA MUNI FIN AUTH 4 1/1/2031 0.02
      CALIFORNIA CO TOBACCO 5 6/1/2032 0.02
      TN HSG DEV AGY-1B 3.5 1/1/2047 0.02
      CA MUNI FIN AUTH 4 1/1/2035 0.02
      OH HSG FIN AGY-A 4.5 3/1/2047 0.02
      IDAHO ST HLTH FACS AU 4 3/1/2035 0.02
      HIDALGO CO-A 5 12/1/2029 0.01
      A.B WON PAT AUTH-A 5 10/1/2029 0.01
      CALIFORNIA CO TOBACCO 5 6/1/2033 0.01
      VINEYARD REDEV AGY 5 5/1/2031 0.01
      CA MUNI FIN AUTH 4 1/1/2034 0.01
      OR COAST COMNTY-CONV 5 6/15/2030 0.01
      A.B WON PAT AUTH-B 5 10/1/2029 0.01
      CA MUNI FIN AUTH 4 1/1/2033 0.01
      VINEYARD REDEV AGY 5 5/1/2030 0.01
      BEAVER WTR DT 5 4/15/2032 0.01
      CA MUNI FIN AUTH 4 1/1/2032 0.01
      A.B WON PAT AUTH-A 5 10/1/2033 0.01
      A.B WON PAT AUTH-A 5 10/1/2031 0.01
      VINEYARD REDEV AGY 5 5/1/2029 0.01
      CT HSG FIN D-1 -REF 4 11/15/2047 0.01
      A.B WON PAT AUTH-A 5 10/1/2030 0.01
      A.B WON PAT AUTH-A 5 10/1/2028 0.01
      A.B WON PAT AUTH-B 5 10/1/2028 0.01
      HIDALGO CO-A 5 12/1/2028 0.01
      A.B WON PAT AUTH-A 5 10/1/2027 0.01
      NY HSG-VAR-A-8 E 102N FRN 5/1/2044 0.01
      MN HSG FIN AGY-B-REF 4 7/1/2047 0.00
      CVI-SUBSER CW NT FRN 11/1/2043 0.00
      RESTRUCTURED-SER A1 5.625 7/1/2027 0.00
      RESTRUCTURED-SER A1 5.625 7/1/2029 0.00
      RESTRUCTURED-SER A1 5.75 7/1/2031 0.00
      RESTRUCTURED-CABS-SER 0 7/1/2033 0.00
      RESTRUCTURED-SER A1 4 7/1/2033 0.00
      RESTRUCTURED-SER A1 4 7/1/2041 0.00
      RESTRUCTURED-SER A1 4 7/1/2046 0.00
      RESTRUCTURED-SER A1 4 7/1/2035 0.00
      RESTRUCTURED-SER A1 4 7/1/2037 0.00
      Net Current Assets -0.44

      % Portfolio Weight is calculated using the closing market price of each security from the prior business day.

      Holdings are subject to change. The holdings listed should not be considered recommendations to buy or sell a security.

      Asset Allocation

          Stats & Risks

          Main Risks

          ETFs trade like stocks, are subject to investment risk, including possible loss of principal.

          Bonds are subject to interest rate, credit, liquidity, call and market risks, to varying degrees. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price decline.

          High yield bonds involve increased credit and liquidity risk than higher rated bonds and are considered speculative in terms of the issuer's ability to pay interest and repay principal on a timely basis.

          Municipal income may be subject to state and local taxes. Some income may be subject to the federal alternative minimum tax for certain investors.

          Distributions

          Dividend Schedule

          Declared
          Monthly
          Distributed
          Monthly
          Paid
          Monthly
          Fiscal Year End
          Aug 31

          Distributions History

          (Values Listed In $)EX DATE RECORD DATE PAYABLE DATE DIVIDEND INCOME SHORT-TERM 
          CAPITAL GAIN          		 LONG-TERM 
          CAPITAL GAIN          		 RETURN OF CAPITAL TOTAL DISTRIBUTION
          03/02/26 03/02/26 03/05/26 0.0445 0.0000 0.0000 0.0000 0.0445
          (Values Listed In $)EX DATE RECORD DATE PAYABLE DATE DIVIDEND INCOME SHORT-TERM 
          CAPITAL GAIN          		 LONG-TERM 
          CAPITAL GAIN          		 RETURN OF CAPITAL TOTAL DISTRIBUTION
          02/02/26 02/02/26 02/05/26 0.0430 0.0000 0.0000 0.0000 0.0430
          Literature

          Literature

          PRODUCT INFORMATION

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          ETF Profile Sheet Download

          BNY Mellon National Intermediate Municipal Bond Fund Materials

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          Annual Report - Class M Download
          Semi Annual Report - Class M Download
          Annual Financials and Other Information Download

          Prospectus and Reports

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          Prospectus Download
          Summary Prospectus Download
          SAI Download

          Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. Download a prospectus, or summary prospectus, if available, that contains that and other information about the fund, and read it carefully before investing.

          ETF shares are listed on an exchange, and shares are generally purchased and sold in the secondary market at market price. At times, the market price may be a premium or discount to the ETF's per share NAV. In addition, ETFs are subject to the risk that an active trading market for an ETF's shares may not develop or be maintained. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions. Any applicable brokerage commissions will reduce returns.

          ETFs trade like stocks, are subject to investment risk, including possible loss of principal. The risks of investing in this ETF typically reflect the risks associated with the types of instruments in which the ETF invests. Diversification cannot assure a profit or protect against loss.

          The fund will issue (or redeem) fund shares to certain institutional investors known as “Authorized Participants” (typically market makers or other broker-dealers) only in large blocks of fund shares known as “Creation Units.” BNY Mellon Securities Corporation (“BNYSC”), a subsidiary of BNY, serves as distributor of the fund. BNYSC does not distribute fund shares in less than Creation Units, nor does it maintain a secondary market in fund shares. BNYSC may enter into selected agreements with Authorized Participants for the sale of Creation Units of Creation Units of fund shares.

          Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

          This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular investment, strategy, investment manager or account arrangement and should not serve as a primary basis for investment decisions.

          Please consult a legal, tax or investment professional in order to determine whether an investment product or service is appropriate for a particular situation.

           

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