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    BNY Mellon Municipal Intermediate ETF (BKMI)

    • CUSIP 05613H704
    • NAV  $ 26.53 As of  01/16/26
    • CHG  $ 0.01 (0.04 %)
    • MKT PRICE  $26.54 As of  01/16/26
    • CHG  $0.04 (0.15 %)
    • 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
    $1,780,879,764  As of  01/16/26
    NUMBER OF SHARES OUTSTANDING
    67,125,810  As of  01/16/26
    MARKET PRICE 52-WEEK HIGH
    $26.54  As of  01/16/26
    MARKET PRICE 52-WEEK LOW
    $26.49  As of  01/13/26
    AVG EFFECTIVE DURATION
    4.77 yr(s). As of  12/31/25
    WEIGHTED AVG YIELD TO MATURITY
    % As of 
    WEIGHTED AVG MATURITY
     yr(s). As of 
    DISTRIBUTION FREQUENCY
    Monthly
    Number of Holdings
    539 As of  12/31/25
    SUB-ASSET CLASS
    Tax-Exempt
    EXCHANGE
    NASDAQ

    Yields and Expense Ratio

    30-DAY SEC YIELD
    as of 01/16/26      SUBSIDIZED     		UNSUBSIDIZED CURRENT YIELD
    as of  01/16/26     		CONTRACTUAL
    FEE WAIVER END DATE     		PROSPECTUS FEE TABLE EXPENSE RATIO (%)
    as of  12/31/25     NET     		GROSS
    - - 0.00 - 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

    • John F. Flahive

      John F. Flahive, CFA

      Portfolio Manager, Insight North America, LLC

      Managing Fund Since January 2026

      Joined Firm in 1995

      Joined Industry in 1985
    • 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  01/16/26 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% 79,100 97,641 0.02% 0.65%

    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 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 -

    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 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 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 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  01/16/26
      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.

      John F. Flahive, Thomas Casey and Mary Collette O'Brien will serve as primary portfolio managers of the fund. Mr. Flahive is currently the Co-Head of Municipal Bonds at INA. Ms. O'Brien and Mr. Casey are currently senior portfolio managers at INA. 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 01/16/26
      Holdings % Portfolio Weight
      TREASURY BILL 0 2/12/2026 1.39
      MARICOPA IDA-B-REF 5 1/1/2034 1.01
      IL ST-REV-B 5 6/15/2039 0.93
      RHODE ISLAND ST -A 5 8/1/2038 0.88
      NY LIBERTY DEV CORP-1 5 11/15/2044 0.86
      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
      Net Current Assets 0.68
      MIAMI-DADE CO EDU-B 5.25 4/1/2036 0.66
      TX TRANSPRTN-C-REF 5 8/15/2036 0.65
      CT HLTH & EDUCTNL-B-2 FRN 7/1/2064 0.64
      TX TRANSPRTN COMM-REF 5 10/1/2040 0.64
      MET TRANSPRTN AUTH-A 5 11/15/2037 0.64
      TARRANT CO EDU FACS-C FRN 11/15/2064 0.63
      CO ST HLTH FACS-B FRN 11/15/2036 0.63
      MAIN STREET NATURAL-C FRN 12/1/2054 0.62
      NEW YORK 5 8/1/2030 0.62
      DASNY-A-1-UNREF 5 3/15/2040 0.62
      CLARK CO 5 7/1/2040 0.62
      CA CMNTY CHOICE FIN-F 5 11/1/2033 0.62
      SOUTHEAST ENERGY AUTH FRN 1/1/2054 0.60
      KY PUB ENERGY-A FRN 5/1/2055 0.59
      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 0.58
      PA TPK 2ND SER SPL 5 12/1/2038 0.58
      MET TRANSPRTN AUTH NY 5 11/15/2031 0.57
      TX WTR DEV BRD-B 4 10/15/2037 0.57
      MAIN STREET NATURAL FRN 7/1/2052 0.57
      VT EDU HLTH BLDG FIN 5 12/1/2032 0.57
      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
      PHILADELPHIA HSG-A 5.25 3/1/2039 0.52
      MET TRANS AUTH -B-1 5 11/15/2036 0.52
      JACKSONVILLE HSG AUTH 5 2/1/2034 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 0.50
      BLACK BELT ENERGY GAS FRN 5/1/2053 0.48
      MD STADIUM AUTH 5 3/1/2031 0.48
      CHICAGO-C-REF-AMT 5 1/1/2028 0.48
      BLACK BELT ENERGY GAS FRN 11/1/2053 0.47
      CHICAGO-A-REF 5 1/1/2029 0.47
      MIAMI DADE CO -C -REV 4 4/1/2037 0.46
      TX MUNI GAS ACQ VI 5 1/1/2036 0.46
      MAIN STREET NATURAL-E FRN 5/1/2055 0.45
      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
      MET WA ARPT AUTH-A-RE 5 10/1/2032 0.44
      LOS ANGELES DEPT OF W 5 7/1/2038 0.42
      SACRAMENTO WTR SER B FRN 6/1/2034 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
      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 0.38
      LAS VEGAS VLY WTR DT 4 6/1/2036 0.37
      MET TRANSPRTN AUTH-B 5 11/15/2033 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 0.36
      MET NASHVILLE TN ARPT 5 7/1/2039 0.35
      CENTRL TX REGL ETC-D 4 1/1/2035 0.35
      DC-KIPP-SER A-REF 5 7/1/2042 0.35
      GTR TEXOMA UTIL AUTH 5 10/1/2039 0.35
      OREGON ST HLTH & SCIE FRN 7/1/2046 0.34
      TX WTR DEV BRD -REV 4.5 10/15/2037 0.34
      BUILD NYC RESOURCE 5 7/1/2040 0.34
      MA DEV FIN AGY-A FRN 11/1/2055 0.33
      MO HLTH & EDUCTNL-C FRN 4/1/2059 0.33
      LOUISIANA ST GAS-B 5 5/1/2032 0.32
      PHILADELPHIA HSG-A 5 3/1/2033 0.32
      CLIFTON HGR EDU FIN 5 8/15/2039 0.32
      OK TPK AUTH-A 5 1/1/2039 0.32
      HAWAII ST 4 10/1/2030 0.32
      CA INFRA & ECON DEV-A 3.25 8/1/2029 0.32
      MI FIN AUTH-B-1-REF FRN 8/15/2055 0.31
      DALLAS & FORT-C-REF 5 11/1/2031 0.31
      SC JOBS-ECON DEV-B-1 FRN 11/1/2055 0.31
      INDIANA FIN AUTH-B2 FRN 10/1/2060 0.31
      MINNEAPOLIS ST PAUL-B 5 1/1/2039 0.31
      BLACK BELT ENERGY GAS FRN 12/1/2053 0.30
      GEISINGER PA AUTH HLT FRN 4/1/2043 0.30
      LOS ANGELES DEPT WTR 5 7/1/2041 0.13
      CA HLTH FACS FING HLT 5 11/15/2049 0.30
      KY PUB ENERGY AUTH-C 5 5/1/2036 0.30
      MAIN STREET NATURAL-D FRN 4/1/2054 0.30
      GOLDEN ST TOBACCO-A1 4.214 6/1/2050 0.30
      BLACK BELT-SER-C FRN 5/1/2055 0.30
      FW TEXAS STREET PUB 5 5/1/2038 0.30
      CA CMNTY CHOICE FIN-C FRN 12/1/2055 0.30
      DENVER CITY & CNTY CO 5 11/15/2028 0.30
      NY ENERGY FIN DEV FRN 7/1/2056 0.30
      CENTRL PLAINS-A FRN 5/1/2054 0.30
      KY PUB ENERGY AUTH-A FRN 6/1/2055 0.30
      NEW YORK-C 5.25 3/1/2047 0.30
      DU PAGE ETC HSD #86 4 1/15/2035 0.30
      PENNSYLVANIA ST 3 5/15/2034 0.30
      INDIANA FIN AUTH-B-1 FRN 10/1/2062 0.30
      MAIN STREET NATURAL-B FRN 12/1/2052 0.29
      MARYLAND-A 4 3/15/2035 0.29
      KING CO HSG AUTH-A-1 5 1/1/2028 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
      DASNY -A-REF 4 3/15/2038 0.29
      HOUSTON TX CMNTY CLG 4 2/15/2036 0.29
      PA ST UNIV-A 5 9/1/2042 0.29
      ST PUB SCH BLDG-A-REF 5 6/1/2031 0.29
      PENNSYLVANIA ST-1ST 3.5 3/1/2031 0.29
      CHANDLER AZ INDL DEV FRN 6/1/2049 0.29
      SNOHOMISH CO-REF-A 2 12/1/2032 0.28
      N TX TOLLWAY AUTH REV 4 1/1/2034 0.28
      UNIV OF AKRON-A-REF 5 1/1/2033 0.28
      DC-KIPP-SER A-REF 5 7/1/2037 0.28
      MA DEV FIN AGY-A 5 10/1/2033 0.28
      NYC TRANSTNL FIN-E1 5 2/1/2037 0.28
      OKLAHOMA CITY 2 3/1/2029 0.28
      MTA HUDSON RAIL YRD-A 5 11/15/2051 0.28
      MET GOVT NASHVILLE 2.5 1/1/2029 0.28
      WAXAHACHIE ISD-REF 4 8/15/2037 0.28
      NEVADA-A 3 5/1/2035 0.28
      TAMPA-C-REV-BAM 3 10/1/2036 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
      PA HSG FIN AGY-122 3.65 10/1/2032 0.26
      NYC TRANSITIONAL-F-1 5 11/1/2033 0.26
      CONNECTICUT ST 4 1/15/2037 0.26
      OHIO ST-REV-REF 4 10/1/2037 0.26
      TARRANT CULTURAL-C-2 FRN 11/15/2051 0.26
      NY LIBERTY DEV CORP-A 1.45 11/15/2029 0.26
      WA HLTH FACS AUTH-A 5 3/1/2036 0.26
      FORT BEND GRAND PKWY 3 3/1/2035 0.25
      ID HLTH FACS AUTH-B FRN 3/1/2060 0.25
      MINNEAPOLIS ST PAUL-B 5 1/1/2031 0.25
      NY LIBERTY DEV CORP 3 2/15/2042 0.24
      CHICAGO PK DT-C 4 1/1/2035 0.24
      ILLINOIS FIN AUTH-A-1 FRN 8/15/2054 0.24
      IPS MULTI-SCH BLDG 5 7/15/2037 0.06
      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
      LOWER COLORADO RIVER 5 5/15/2044 0.24
      CMWLTH FING AUTH 5 6/1/2030 0.24
      MET WA ARPT AUTH-A-RE 5 10/1/2027 0.23
      MET WA ARPTS AUTH-A 5 10/1/2031 0.23
      MN HGR EDU FACS-A 5 10/1/2039 0.23
      NEBO SD-REF 2 7/1/2033 0.23
      CT ST HLTH & EDUCTNL 4 7/1/2035 0.23
      CA MUNI FIN AUTH-A 5 10/1/2040 0.23
      WASHOE CO-REF-B FRN 3/1/2036 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
      LOWER COLORADO RIVER 5 5/15/2041 0.22
      ALASKA ST-B-REF 5 10/1/2032 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
      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
      FLORIDA ST MUNI PWR A 3 10/1/2033 0.20
      KANSAS CITY MO INDL D 4 3/1/2034 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
      MIAMI-DADE CO-A-AMT 5 10/1/2035 0.19
      ILLINOIS ST-B 5 5/1/2036 0.19
      ILLINOIS ST TOLL HIGH 5 1/1/2042 0.19
      IPS MULTI-SCH BLDG 5 7/15/2038 0.11
      UTAH ST CHRT SCH FIN 5 10/15/2045 0.18
      IL UNIV-A-REV-REF 5.25 4/1/2043 0.18
      SAN ANTONIO-C 5 2/1/2035 0.18
      NEW HAVEN USD CABS 0 8/1/2033 0.18
      SOUTHEAST ENERGY-E 5 10/1/2030 0.18
      CA CMNYY CHOICE-F FRN 2/1/2055 0.18
      AZ IDA SR LIVING-A2 5.125 1/1/2059 0.18
      DIST OF COLUMBIA REVE 5 6/1/2036 0.18
      SAN FRANCISCO APRT-A 5 5/1/2034 0.18
      CA CMNTY CHOICE FING FRN 1/1/2054 0.18
      MARICOPA CNTY AZ INDL 5 1/1/2035 0.17
      ALASKA ST-B-REF 5 10/1/2031 0.17
      PORT OF SEATTLE WA-C 5 8/1/2030 0.17
      COLORADO ST COPS-A 4 12/15/2036 0.17
      NM ST MTGE FIN AUTH-D 5.3 9/1/2048 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
      TEXAS ST PRIV ACTIVIT 4 6/30/2032 0.16
      NY CITY TRANS FIN-F-1 5 2/1/2045 0.16
      CONNECTICUT HSG-D-REF 5 11/15/2039 0.16
      CHICAGO IL PARK DT-B 5 1/1/2035 0.16
      OHIO ST-REV-REF 4 10/1/2042 0.16
      SC JOBS-ECON DEV-B-2 FRN 11/1/2049 0.16
      SC PUB SVC AUTH-A-REF 4 12/1/2037 0.16
      MIAMI-DADE CO-A-AMT 5 10/1/2036 0.16
      KNOXVILLE 3 5/1/2036 0.16
      ALASKA HSG FIN CORP-A 3 6/1/2051 0.16
      ID HLTH FACS AUTH-C FRN 3/1/2060 0.16
      GTR TEXOMA UTILITY-A 5 10/1/2041 0.16
      MESQUITE HSG FIN CORP FRN 8/1/2029 0.16
      CA CMNTY CHOICE FIN-H FRN 1/1/2056 0.15
      CASINO REINVESTMENT-A 5 11/1/2033 0.15
      RI HLTH & EDUCTNL-C 5 5/15/2041 0.15
      WA HLTH FACS AUTH-A 5 3/1/2037 0.15
      INDIANA ST FIN AUTH FRN 11/1/2049 0.15
      CASINO REINVESTMENT-A 5 11/1/2034 0.15
      CONNECTICUT ST-A 5 3/15/2034 0.15
      CONNECTICUT ST-A 5 3/15/2036 0.15
      KY COMMONWEALTH-A 5 4/1/2043 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
      PENNSYLVANIA ST HGR E 4 6/15/2031 0.15
      SALT LAKE ARPT REV-A 5 7/1/2029 0.14
      MICHIGAN ST FIN AUTH 4 12/1/2035 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
      OHIO AIR QUALITY DEV FRN 6/1/2041 0.14
      SEARCY-REV 4 11/1/2036 0.14
      MASSACHUSETTS-A-REF 5 7/1/2035 0.14
      SARASOTA -REV 5 9/1/2043 0.13
      CLIFTON HGR EDU FIN-T 4 8/15/2033 0.13
      MA ED FIN AUTH-B-AMT- 5 7/1/2029 0.13
      ANSONIA-COPS 4.125 12/1/2034 0.13
      CONNECTICUT ST-A 5 3/15/2033 0.13
      WA HLTH FACS AUTH-A 5 3/1/2038 0.13
      IL FIN AUTH-A 5 10/1/2039 0.13
      SARASOTA -REV 5 9/1/2041 0.13
      ILLINOIS ST-A 5 3/1/2032 0.13
      NEBRASKA ST INVESTMEN 5.5 9/1/2053 0.13
      SAN FRANCISCO CITY -A 5 5/1/2032 0.13
      CHICAGO-C-REF-REV 5 1/1/2041 0.13
      DENVER CITY & CNTY CO 5 11/15/2033 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
      GTR TEXOMA UTILITY-A 5 10/1/2036 0.12
      WILLIAMSON CNTY TN 3.1 4/1/2035 0.12
      SANTA MARIA UN HSD 3 8/1/2040 0.12
      NORTHWEST ISD-A 5 2/15/2039 0.12
      S W ISD 5 2/1/2041 0.12
      IL UNIV-A-REV-REF 5.25 4/1/2044 0.12
      ST CLOUD-REF-REV 5 5/1/2041 0.12
      WAWASEE HS BLDG CORP 5 7/15/2041 0.12
      INDIANA FIN AUTH EDUC 4 2/1/2034 0.12
      S W ISD 5 2/1/2040 0.12
      ST CLOUD-REF-REV 5 5/1/2042 0.12
      FAIR LAWN NJ 2 9/1/2029 0.12
      MAIN ST NAT GAS INC-D FRN 5/1/2054 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
      STHRN CA TOBACCO -REF 5 6/1/2037 0.12
      WILL FOREST PERSERVE 5 12/15/2043 0.12
      REGL CO TRANS DT-A 5 7/15/2031 0.12
      OMAHA ARPT AUTH-AMT 5 12/15/2030 0.12
      SALT LAKE ARPT REV-A 5 7/1/2030 0.12
      KANSAS CITY MO INDL D 4 3/1/2035 0.12
      RI HLTH EDU BLDG CORP 5 11/1/2047 0.12
      GUAM GOVT-A-REF 5 12/1/2028 0.11
      GUAM GOVT-A-REF 5 12/1/2029 0.11
      WASHINGTON ST HLTH CA 5 8/15/2026 0.11
      DASNY-A-REF 4 5/1/2039 0.11
      TEXAS ST PUBLIC FIN A 4 2/1/2039 0.11
      CHICAGO PARK DIST-F-2 4 1/1/2038 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
      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
      CASINO REINVESTMENT-A 5 11/1/2035 0.10
      COLORADO HFA-B 3.75 5/1/2050 0.10
      HIDALGO CO-A 4 12/1/2038 0.10
      OK TPK AUTH-B-REF 5 1/1/2032 0.10
      CHICAGO-B-REV 5 1/1/2041 0.10
      NEWARK HGR EDU FIN-A 5 8/15/2039 0.10
      ALASKA ST-B-REF 5 10/1/2030 0.10
      LA DEPT OF WTR-B-REF 5 7/1/2037 0.10
      TULSA CO IND AUTH 5 9/1/2032 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
      RI HLTH & EDUCTNL 5 5/15/2041 0.10
      MD TRANSPRTN DEPT -A 5 8/1/2032 0.10
      AZ INDL DEV AUTH-A 4 11/1/2049 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
      COOK CO HIGH SD #207 3 12/1/2032 0.09
      L'ANSE CREUSE PUB-I 5 5/1/2042 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
      CASINO REINVESTMENT-A 5 11/1/2031 0.09
      TEXAS ST PRIV ACTIVIT 4 12/31/2034 0.09
      ERNEST N MORIAL-NEW O 5 7/15/2036 0.09
      DUPAGE SD #60-A 4 12/30/2032 0.09
      MD TRANSPRTN DEPT -A 5 8/1/2031 0.09
      MARYLAND ST CMNTY DEV 4 9/1/2049 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
      CALIFORNIA CMNTY CHOI FRN 2/1/2052 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
      HOUSTON-A-REF 3 3/1/2036 0.08
      REGL CO TRANS DT-A 5 1/15/2029 0.08
      CASH 0.08
      COLORADO ST HSG & FIN 4.25 11/1/2049 0.08
      RI HLTH & EDUCTNL-C 5 5/15/2040 0.08
      MD HLTH & HGR EDU-A 5 7/1/2038 0.08
      CASINO REINVESTMENT-A 5 11/1/2036 0.08
      CALIF CMNTY FIN-E-1 FRN 2/1/2054 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
      NEW MEXICO MTG FIN-A 3 3/1/2053 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
      TEXAS ST PRIV ACTIVIT 4 6/30/2035 0.08
      WINDSOR CT 2 6/15/2030 0.08
      WILL FOREST PERSERVE 5 12/15/2040 0.08
      SHREVEPORT 5 3/1/2044 0.07
      MD TRANSPRTN DEPT -A 5 8/1/2033 0.07
      MT FAC FIN AUTH-2022A 5 8/15/2029 0.07
      TEXAS ST PRIV ACTIVIT 4 12/31/2035 0.07
      MET WASHINGTON DC-B 4 10/1/2036 0.07
      CHICAGO PARK DIST-F-2 4 1/1/2036 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
      AR DEV FIN AUTH 5 2/1/2031 0.07
      GUAM WTRWKS AUTH-A 5.25 7/1/2040 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
      GA MUNI ELEC AUTH-A 5 1/1/2039 0.07
      AR DEV FIN AUTH 5 2/1/2030 0.07
      OKLAHOMA CITY 3 3/1/2038 0.07
      TULSA CO IND AUTH 5 9/1/2033 0.07
      TRIBOROUGH NY BRIDGE 4 11/15/2037 0.07
      SARASOTA -REV 5 9/1/2042 0.07
      FAYETTE CO DEV AUTH 5 10/1/2042 0.07
      CO BRIDGE &TUNNEL-A 5 12/1/2035 0.07
      MD HLTH & HGR EDU-A 5 7/1/2037 0.07
      CLIFTON HGR EDU FIN-T 4 8/15/2035 0.07
      GUAM WTRWKS AUTH-A 5.25 7/1/2041 0.06
      JORDAN UT SD 2 6/15/2033 0.06
      JORDAN UT SD 2 6/15/2032 0.06
      CASINO REINVESTMENT-B 5 11/1/2033 0.06
      IOWA ST FIN AUTH-C 5 8/1/2040 0.06
      TN ENERGY ACQ CORP-A- FRN 5/1/2053 0.06
      GOVT OF GUAM-G-REF 5 1/1/2034 0.06
      LOS ANGELES CA DEPT-A 5 7/1/2040 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 1/15/2044 0.06
      SHREVEPORT 5 3/1/2039 0.06
      GOVT OF GUAM-G-REF 5 1/1/2032 0.06
      CASINO REINVESTMENT-A 5 11/1/2030 0.06
      KING CO HSG AUTH -REF 5 7/1/2040 0.06
      GOVT OF GUAM-G-REF 5 1/1/2031 0.06
      SARASOTA -REV 5 9/1/2040 0.06
      COLUMBUS MULTI-SCH BL 5 7/15/2041 0.06
      FAYETTE CO DEV AUTH 5 10/1/2039 0.06
      FAYETTE CO DEV AUTH 5 10/1/2044 0.06
      SOUTHEAST ENERGY AUTH FRN 5/1/2053 0.06
      SHREVEPORT 5 3/1/2041 0.06
      GUAM WTRWKS AUTH-A 5.25 7/1/2042 0.06
      ALLEGHENY CO HGR EDU 5 3/1/2029 0.06
      AZ INDL DEV AUTH-A 5 11/1/2034 0.06
      PHILADELPHIA INDL DEV 5 11/1/2029 0.06
      MET NASHVILLE TN ARPT 5 7/1/2033 0.06
      SE ENERGY AUTH-C 5 11/1/2029 0.06
      HIDALGO CO-A 5 12/1/2031 0.06
      REGL CO TRANS DT-A 5 1/15/2030 0.06
      PHILADELPHIA INDL DEV 5 11/1/2028 0.06
      CONNECTICUT ST HLTH-M 4 7/1/2038 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
      CHICAGO PK DT-D-REF 4 1/1/2032 0.06
      ILLINOIS FIN AUTH-A 5 9/1/2031 0.06
      DANBURY HGR EDU AUTH 4.75 8/15/2034 0.05
      AZ INDL DEV AUTH-A 5 11/1/2033 0.05
      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
      ILLINOIS FIN AUTH-A 5 9/1/2030 0.05
      ARIZONA IND DEV AUTH 3 7/1/2037 0.05
      AZ INDL DEV AUTH-A 5 11/1/2035 0.05
      NEVADA ST-A 4 4/1/2049 0.05
      CLARKSVILLE BLDG-VAR FRN 7/1/2031 0.05
      MD H/E ADJ POOLD LN-B FRN 4/1/2035 0.05
      HONOLULU CITY & C0-A 5 7/1/2034 0.05
      FAYETTE CO DEV AUTH 5 10/1/2040 0.05
      WA HGR EDU FACS AUTH 5 5/1/2031 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 0.05
      ILLINOIS FIN AUTH-A 5 9/1/2034 0.04
      MD TRANSPRTN DEPT -A 5 8/1/2034 0.04
      INDIANA ST FIN AUTH 5 11/1/2027 0.04
      ARIZONA IND DEV AUTH 3 7/1/2036 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
      HIDALGO CO-A 5 12/1/2033 0.03
      HIDALGO CO-A 5 12/1/2030 0.03
      MONTGOMERY CNTY OH 5 8/1/2036 0.03
      WA HGR EDU FACS AUTH 5 5/1/2029 0.03
      ILLINOIS ST-A 5 3/1/2031 0.03
      AR DEV FIN AUTH 5 2/1/2032 0.03
      STHRN CA TOBACCO -REF 5 6/1/2034 0.03
      OH HSG FIN AGY-D 4 3/1/2047 0.03
      MT FAC FIN AUTH-2022A 5 8/15/2027 0.03
      DANBURY HGR EDU AUTH 4 8/15/2049 0.03
      WA HGR EDU FACS AUTH 5 5/1/2027 0.03
      SE ENERGY AUTH-C 5 11/1/2026 0.03
      PA HSG FIN AGY-122 4 10/1/2046 0.03
      WASHINGTON HLTH CARE 3 12/1/2034 0.02
      WASHINGTON HLTH CARE 3 12/1/2035 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
      OR COAST COMNTY-CONV 5 6/15/2031 0.02
      OH HSG FIN AGY-A 4.5 3/1/2047 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
      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-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
      A.B WON PAT AUTH-A 5 10/1/2028 0.01
      MN HSG FIN AGY-B-REF 4 7/1/2047 0.01
      NY HSG-VAR-A-8 E 102N FRN 5/1/2044 0.01
      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-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-CABS-SER 0 7/1/2033 0.00
      RESTRUCTURED-SER A1 4 7/1/2035 0.00
      RESTRUCTURED-SER A1 4 7/1/2037 0.00

      % 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
          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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