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    BNY Mellon Municipal Opportunities ETF (BMOP)

    • CUSIP 05613H803
    • NAV  $ 24.94 As of  04/16/26
    • CHG  $ 0.07 (0.28 %)
    • MKT PRICE  $24.83 As of  04/16/26
    • CHG  $0.01 (0.04 %)
    • TOTAL EXPENSE RATIO 
      0.54% 
      Net
      0.54% 
      Gross
    Overview

    Why invest in this Fund?

    • The fund seeks to maximize current income exempt from federal income tax and capital appreciation.
    • 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 invests at least 50% of its net assets in bonds that are 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. For additional yield, the fund may invest up to 50% of its net assets in bonds that are rated below investment grade ("high yield" or "junk" bonds) or, if unrated, deemed of comparable quality by the fund's sub-adviser, Insight North America LLC.
    • The fund may invest in individual municipal and taxable bonds of any maturity or duration and does not expect to target any specific range of 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
    10/15/08
    NET ASSETS
    $1,809,136,641  As of  04/17/26
    NUMBER OF SHARES OUTSTANDING
    72,540,124  As of  04/17/26
    MARKET PRICE 52-WEEK HIGH
    $25.23  As of  02/27/26
    MARKET PRICE 52-WEEK LOW
    $24.45  As of  03/24/26
    AVG EFFECTIVE DURATION
    8.10 yr(s). As of  03/31/26
    WEIGHTED AVG YIELD TO MATURITY
    6.11% As of  03/31/26
    WEIGHTED AVG MATURITY
    10.85 yr(s). As of  03/31/26
    DISTRIBUTION FREQUENCY
    Monthly
    Morningstar Category
    Municipal National Intermediate
    Morningstar Overall Rating
    Number of Holdings
    679 As of  03/31/26
    SUB-ASSET CLASS
    Tax-Exempt
    EXCHANGE
    NASDAQ

    Morningstar Rating™ as of March 31, 2026. Overall rating for the Municipal National Intermediate category. Fund ratings are out of 5 Stars: Overall 4 Stars (255 funds rated); 3 Yrs. 4 Stars (255 funds rated); 5 Yrs. 3 Stars (233 funds rated); 10 Yrs. 5 Stars (176 funds rated).

    Yields and Expense Ratio

    30-DAY SEC YIELD
    as of 04/17/26      SUBSIDIZED     		UNSUBSIDIZED CURRENT YIELD
    as of  04/17/26     		CONTRACTUAL
    FEE WAIVER END DATE     		PROSPECTUS FEE TABLE EXPENSE RATIO (%)
    as of  12/31/25     NET     		GROSS
    3.90 3.90 1.24 - 0.54 0.54

    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.

    DOWNLOAD

    Portfolio Managers

    • Gregory J. Conant

      Gregory J. Conant, CFA

      Portfolio Manager, Insight North America, LLC

      Managing Fund Since January 2026

      Joined Firm in 1998

      Joined Industry in 1998
    • Jeffrey Burger

      Jeffrey Burger, CFA

      Senior Portfolio Manager, Insight North America, LLC

      Managing Fund Since January 2026

      Joined Firm in 2009

      Joined Industry in 2000
    Performance

    Daily Statistics

    As of  04/16/26 NAME 30-DAY MEDIAN 
    BID/ASK 
    SPREAD     		PREVIOUS DAY
    VOLUME     		20-DAY AVG 
    VOLUME     		PREMIUM/ 
    DISCOUNT     		YTD
    Total Return
    (NAV)
    BNY Mellon Municipal Opportunities ETF
    		0.20% 231,240 142,906 -0.19% 1.39%

    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 03/31/26
    Name 3 MO
    03/31/26     		YTD
    03/31/26     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Municipal Opportunities ETF
    BMOP
    		-0.09 -0.09 3.44 3.78 1.09 2.70 5.29
    Bloomberg U.S. Municipal Bond Index
    		-0.18 -0.18 4.29 2.87 0.84 2.16 -
    S&P Municipal Bond Index
    		-0.18 -0.18 4.32 3.13 1.08 2.25 -

    Quarter End

    MARKET PRICE
    Average Annual
    As of 03/31/26
    Name 3 MO
    03/31/26     		YTD
    03/31/26     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Municipal Opportunities ETF
    BMOP
    		-0.09 -0.09 3.44 3.78 1.09 2.70 5.29
    Bloomberg U.S. Municipal Bond Index
    		-0.18 -0.18 4.29 2.87 0.84 2.16 -
    S&P Municipal Bond Index
    		-0.18 -0.18 4.32 3.13 1.08 2.25 -

    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 Municipal Opportunities  Fund ("Predecessor Fund"), which had a different fee structure than the fund. The fund's investment strategies are similar to those of the Predecessor Fund; however, while each fund may invest in derivatives as a part of its principal investment strategy, unlike the Predecessor Fund, the fund's investments in derivatives may also include options on futures and interest rate swaps such as MMD Rate Locks.  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 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 Index is a broad, market value-weighted index that seeks to measure the performance of the U.S. municipal bond market.

    The Bloomberg U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. 

    The S&P Municipal Bond Index is a market-value-weighted index designed to measure the performance of the U.S. municipal bond market, which includes debt issued by states and local governments. Investors cannot invest directly in any index. 

    The Bloomberg U.S. Municipal Bond Index is the broad-based benchmark for the BNY Mellon Municipal Opportunities ETF. The S&P Municipal Bond Index was the broad-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  04/17/26 Q1 2026
      Days Traded at Premium
      		15
      Days Traded at Discount
      		38

      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.

      Premium/Discount

      Fees & Expenses

      Prospectus Fee Table Expense Ratios

      Fees as stated in the prospectus  Fee Description Total Expense Ratio (%)
      Management Fee 0.50%
      Other Expenses 0.04%
      Total Expenses 0.54%
      Net Expenses 0.54%

      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. Gregory J. Conant and Jeffrey Burger are the primary portfolio managers of the fund, positions they have held since January 2026. Mr. Conant and Mr. Burger are 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 04/17/26
      Holdings % Portfolio Weight
      Net Current Assets 1.36
      INTERMOUNTAIN PWR AGY 5 7/1/2042 0.89
      PUERTO RICO CMWLTH AQ 5 7/1/2030 0.88
      CA CMNTY CHOICE FIN-F 5 11/1/2033 0.78
      AUSTIN TX ARPT SYS RE 5 11/15/2046 0.73
      MA BAY TRANS AUTH-A 5 7/1/2038 0.67
      UNIV OF TEXAS SYS BRD 5 7/1/2041 0.63
      MD HLTH HGR AUTH-B FRN 8/15/2056 0.62
      LA DEPT OF WTR-B-REF 5 7/1/2037 0.61
      WASHINGTON ST-A 5 8/1/2040 0.61
      BLACK BELT-SER-C FRN 5/1/2055 0.59
      MAIN STREET NATURAL-C FRN 12/1/2054 0.59
      TENNERGY CORP -A FRN 10/1/2054 0.59
      IDAHO ST HSG & FIN AS 5 8/15/2043 0.58
      CA CMNTY CHOICE FIN-C FRN 8/1/2055 0.58
      TRIBOROUGH BRIDGE-A-3 5.25 5/15/2064 0.58
      MA SCH BLDG-B-SUB 5.25 2/15/2048 0.57
      BLACK BELT ENERGY GAS FRN 10/1/2052 0.56
      MA SCH BLDG-SUB-A 5.25 2/15/2048 0.54
      HIGH STAR RANCH FING 6.25 12/1/2055 0.50
      LA PUB FACS AUTH-AMT 5.5 9/1/2054 0.49
      PR SALES TAX FING-A1 5 7/1/2058 0.47
      WA MET AREA TRANSIT-A 3 7/15/2040 0.46
      MATCHING FUND SPL-A 5 10/1/2039 0.45
      CAL INFRA & ECO DEV-B FRN 1/1/2065 0.44
      GOLDEN ST TOBACCO-A1 4.214 6/1/2050 0.44
      CHICAGO BOE-B-REF 6.75 12/1/2030 0.43
      CHICAGO-A-REV 5.25 1/1/2041 0.43
      TX PRIVATE ACTIVITY 5.5 12/31/2058 0.43
      NY TRNSPRTN DEV CRP-A 5.25 12/31/2054 0.42
      CHICAGO BRD ED-C-REF 5.5 12/1/2045 0.42
      MASSACHUSETTS ST 5 11/1/2045 0.41
      BUILD NYC RESOURCE-A 7 12/15/2065 0.41
      CALIFORNIA ST MUNI FI 5 5/15/2052 0.41
      OK CTY WTR UTIL TRUST 5 7/1/2054 0.40
      CA CMNTY CHOICE-A-1 FRN 4/1/2056 0.40
      ARKANSAS DEV FIN AUTH 5.7 5/1/2053 0.40
      VA PORT AUTH 5 7/1/2043 0.39
      RI HLTH-PROVIDENCE 5 11/1/2045 0.39
      CHICAGO BRD ED-B-REF 6 12/1/2043 0.38
      OK CTY WTR UTIL TRUST 5 7/1/2049 0.38
      MET TRANSPRTN AUTH-A 5 11/15/2037 0.37
      VIRGINIA ST CLG BLDG 5.25 2/1/2042 0.37
      PR ELEC PWR AUTH-A 6.75 7/1/2036 0.37
      SAN FRANCISCO APRT-A 5 5/1/2044 0.37
      CHICAGO 5 11/1/2039 0.36
      DT OF COLUMBIA-A-REV 5 7/1/2042 0.36
      CA CMNTY CHOICE FING FRN 1/1/2054 0.35
      TRIBOROUGH BRIDGE-A-2 5.25 5/15/2059 0.35
      TNDR OPT RSDLS-XL0601 FRN 3/15/2049 0.34
      FL DEV FIN CORP-A 5 6/15/2050 0.34
      FULTON CNTY GA DEV AU 5 3/15/2044 0.34
      FOOTHILL ESTRN TRANSP 4.094 1/15/2049 0.34
      RI HLTH & EDUCTNL-C 5 5/15/2043 0.34
      MET TRANSPRTN-C-1 5 11/15/2050 0.34
      CA MUNI FIN AUTH 5 5/15/2048 0.33
      TX WTR DEV BRD-REV 5 8/1/2044 0.33
      PUBLIC FIN AUTH WI HO 4 6/1/2045 0.33
      PUB FIN AUTH-AMT 5.75 6/30/2060 0.33
      SOUTHEAST ENERGY AUTH FRN 1/1/2054 0.33
      TRIBOROUGH BRIDGE-A 5.25 12/1/2054 0.32
      NJ EDUCTNL FACS-A FRN 7/1/2064 0.31
      JPM-DRIVERS-XL0619 FRN 5/15/2048 0.32
      DETROIT COPS-TAXABLE 4.613 6/15/2015 0.32
      DT OF COLUMBIA 5.25 1/1/2048 0.32
      FORT BEND ISD-A-REF 4.25 8/15/2054 0.31
      HIGHER EDUCTNL FACS-A 3 12/1/2048 0.31
      NY ST TRANS DEV CORP 5 12/1/2041 0.31
      CA MUNI AUTH-1-A-1 4.05 7/20/2041 0.31
      MET PIER CAB-A-AG 0 12/15/2040 0.31
      MA DEV FIN AGY-A 5.25 1/1/2042 0.31
      PUB FIN AUTH-AMT 6.5 12/31/2065 0.31
      NJ ECON DEV AUTH-AMT 5.375 1/1/2043 0.31
      PHILADELPHIA HSG-A 5.25 3/1/2040 0.30
      IN FIN AUTH-D-2-REF FRN 10/1/2063 0.30
      ARLINGTON HGR EDU FIN 4 2/15/2049 0.30
      DASNY 5 10/1/2038 0.30
      COLLIN CNTY 5 2/15/2040 0.30
      ILLINOIS ST-B 5 6/15/2039 0.30
      CONNECTICUT ST-B 3 6/1/2038 0.30
      OK TPK AUTH-A 5.5 1/1/2054 0.30
      IN FIN AUTH-D-1-REF FRN 10/1/2064 0.30
      OK TPK AUTH-A 5.25 1/1/2050 0.30
      NJ ECON DEV AUTH-AMT 5.125 1/1/2034 0.30
      HOUSTON-A-REF 5.25 3/1/2049 0.30
      ILLINOIS ST-D 5 11/1/2028 0.30
      S E ENERGY AUTH-A-1 FRN 1/1/2053 0.30
      NEW YORK-D 5.25 4/1/2047 0.29
      KY PUB ENERGY AUTH-A FRN 6/1/2055 0.29
      MAIN ST NAT GAS INC-D FRN 5/1/2054 0.29
      COOK CO-A-REF 5.25 11/15/2045 0.29
      KY PUB ENERGY-A FRN 5/1/2055 0.29
      SC JOBS-ECO AUTH-REF 5.25 11/1/2054 0.29
      MIAMI-DADE CNTY WTR-A 5.25 10/1/2054 0.29
      CA CMNTY CHOICE FIN-C FRN 12/1/2055 0.29
      MASSACHUSETTS ST-A 5 1/1/2041 0.29
      MAIN STREET NATURAL-B FRN 12/1/2052 0.29
      MASSACHUSETTS ST 5 7/1/2045 0.29
      TRIBOROUGH BRIDGE-A-1 5.25 5/15/2064 0.29
      POINT 1 DT#1-A-1 6.125 3/1/2055 0.29
      PUERTO RICO CMWLTH AQ 5 7/1/2035 0.29
      UNIV OF CALIFORNIA-AZ 5 5/15/2043 0.29
      TN ENERGY ACQ CORP-A- FRN 5/1/2053 0.29
      PUB FIN AUTH-AMT 5.75 12/31/2065 0.29
      PROJECTNEW YORK TRANS 5 10/1/2040 0.28
      GRAND PKWY TRANSPRTN 5 10/1/2043 0.28
      CA MUNI FIN AUTH 5 5/15/2040 0.28
      BUILD NYC RESOURCE-A 7 12/15/2055 0.28
      TRIBOROUGH BRIDGE 5 11/15/2049 0.28
      AUBURN UNIV GEN FEE 5 6/1/2048 0.28
      NEW YORK ST TRANSPRTN 5.5 6/30/2054 0.28
      CA MUNI FIN AUTH 5 5/15/2043 0.28
      NEW YORK ST TRANSPRTN 5.25 6/30/2049 0.28
      BEAUMONT PORT NAV-B 10 7/1/2026 0.28
      MTA HUDSON RAIL YRD-A 5 11/15/2056 0.28
      NEW HOPE EDU FACS-A-1 5.25 1/1/2042 0.28
      MASSACHUSETTS DEV-REF 5.25 7/1/2055 0.27
      MINNEAPOLIS -REV 4 11/15/2038 0.27
      NYC TRANSITIONAL-A-1 5.5 5/1/2050 0.27
      CLIFTON HGR EDU-REF 4 8/15/2044 0.27
      CO BRIDGE & TUNNEL-A 5.5 12/1/2054 0.27
      CALIFORNIA ST HLTH FA 4 5/15/2046 0.26
      CENTRL PUGET-S-1-REF 3 11/1/2036 0.26
      ARLINGTON CNTY VA IND 4 7/1/2045 0.26
      MO HLTH & EDUCTNL-A 4.25 4/1/2055 0.26
      GOLDEN ST TOBACCO -B 3.293 6/1/2042 0.26
      CALIFORNIA CMNTY HSG 5 8/1/2049 0.26
      SIERRA CLG #2-B-WESTE 0 8/1/2031 0.25
      GRAND PKWY TRANSPRTN 4 10/1/2049 0.25
      OHIO ST 3 5/1/2039 0.25
      FOOTHILL E TRANSP-B1 3.95 1/15/2053 0.25
      ST JAMES PSH-REV-REMK 6.35 7/1/2040 0.25
      MIDA MOUNTAIN VLG-2 6 6/15/2054 0.25
      CLIFTON HGR EDU 5 8/15/2047 0.24
      IA ST FIN AUTH 5 8/1/2042 0.24
      MET WASHINGTON DC-B 4 10/1/2053 0.24
      OHIO ST-REV-REF 4 10/1/2042 0.24
      CALIFORNIA ST 5.25 10/1/2045 0.24
      ARKANSAS UNIV BRD-A 5 11/1/2054 0.24
      MIDA CORMONT PUB-A-2 STEP-CPN 6/1/2055 0.24
      HOUSTON-A-REF 5 3/1/2042 0.24
      TRIBOROUGH BRID-C-1A 5 5/15/2040 0.24
      MARICOPA CNTY AZ PO 2.4 6/1/2035 0.24
      PR SALES TAX FING-A1 4.5 7/1/2034 0.24
      JEFFERSON PSH ECON-A 5.625 6/15/2048 0.24
      MIDA MOUNTAIN VETERAN 5.2 6/1/2054 0.24
      NY TRANSPRTN DEV CORP 6 6/30/2059 0.23
      MET WA DC ARPTS-CABS 0 10/1/2036 0.23
      NY ST TRANS DEV CORP 5 12/1/2039 0.23
      PUB FIN AUTH 4.25 7/1/2054 0.23
      NTHRN IN COMMUTER-REV 5 1/1/2054 0.23
      PUBLIC FIN AUTH-A 5.5 7/1/2044 0.23
      MA ST DEV FIN AGY-N 5 12/1/2041 0.23
      OHIO ST-REV-REF 4 10/1/2047 0.23
      SIERRA VISTA INDL DEV 6.5 6/15/2055 0.23
      CVI-CW/PRIFA RUM FRN 11/1/2051 0.22
      NYC INDL DEV AGY-A 3 1/1/2046 0.22
      NY TOBACCO-A-2B-REF 5 6/1/2045 0.22
      NYC INDL DEV AGY-A 3 1/1/2039 0.22
      CO SCH MINES BRD-A 5 12/1/2054 0.21
      PUB FIN AUTH-AMT 6.5 6/30/2060 0.21
      VI HOTEL DEV FIN-A-1 6 12/1/2055 0.21
      WOLF CREEK INFRA DT#1 5.75 12/1/2044 0.21
      DALLAS & FORT WORTH-B 5 11/1/2047 0.21
      MAIN STREET NATURAL-A FRN 6/1/2055 0.21
      NEW YORK ST LIBERTY 2.8 9/15/2069 0.21
      WI CENTER DIST-A-CABS 0 12/15/2044 0.21
      SEMINOLE CO-REV-REF 5 10/1/2052 0.21
      NY DORM AUTH-A-UNREFD 5.25 3/15/2052 0.20
      TX WTR DEV BRD -REV 5 10/15/2057 0.20
      ONEIDA CO NY LOCAL DE 4 12/1/2049 0.20
      GRANT UHSD-CABS ELEC 0 2/1/2033 0.20
      ARLINGTON HGR EDU 4.5 8/15/2050 0.20
      BUILD NYC RESOURCE-A 6.5 12/15/2045 0.20
      LBJ INFRASTRUCTURE GROUP 3.797 12/31/2057 0.20
      HARRIS CNTY TX CULTUR 3 10/1/2051 0.20
      CLARKSVILLE BLDG-POOL FRN 2/1/2038 0.19
      NV DEPT OF BUS SER B FRN 1/1/2065 0.19
      FL LOCAL GOVT FIN-A 5.5 6/15/2040 0.19
      N DAKOTA ST HSG FIN 4.55 7/1/2048 0.19
      IL FIN AUTH-B-REF 5.25 4/1/2038 0.19
      CALIFORNIA ST MUNI FI 5 5/15/2039 0.18
      PHILADELPHIA HSG-A 5.25 3/1/2038 0.18
      FOREST LAKE MN CHARTE 5 7/1/2056 0.18
      CA PUB FIN AUTH -A 4 7/15/2051 0.18
      PUB FIN AUTH-PIEDMONT 5 6/15/2049 0.18
      HOUSTON-A-REF 5 3/1/2040 0.18
      AZ INDL DEV EDU-B 5.75 7/1/2053 0.18
      CA CMNTY HSG AGY-A 4 2/1/2056 0.18
      JEFFERSON PSH ECON-A 5.5 6/15/2038 0.18
      TEMPLE ISD 5 2/1/2044 0.18
      NYC TRANSITIONAL-A-1 5.25 5/1/2048 0.18
      SIERRA VISTA INDL DEV 5 6/15/2054 0.18
      NTHRN IN COMMUTER-REV 5.25 1/1/2049 0.18
      VA SMALL BUSINESS FIN 4 1/1/2048 0.18
      GREATER ORLANDO 5.5 11/1/2037 0.17
      MET SAINT LOUIS SWR 5.25 5/1/2052 0.17
      NY ST TRANS DEV CORP 5 12/1/2042 0.17
      MATCHING FUND SPL-A 5 10/1/2030 0.17
      NYC MUNI WTR-BB FRN 6/15/2051 0.17
      FOWLER CO UNIF SD-B 5 8/1/2050 0.17
      CHICAGO O'HARE ARPT-A 5 1/1/2037 0.17
      DALLAS ISD-B-REF 4.5 2/15/2045 0.17
      FAYETTE CO DEV AUTH 5.25 10/1/2049 0.17
      CALIFORNIA ST EDUCTNL 5 10/1/2048 0.17
      FAYETTE CO DEV AUTH 5.25 10/1/2054 0.17
      CALIFORNIA CMNTY CHOI FRN 2/1/2052 0.17
      CA ST MUNI FIN-AMT 4 7/15/2029 0.17
      IL FIN AUTH-A-REF 5 5/15/2037 0.17
      HOUSTON-C-REV-REF 5.25 9/1/2051 0.17
      OHIO-AMT-PORTSMOUTH 5 12/31/2035 0.17
      CA ST CMNTY DEV AUTH 5.25 12/1/2044 0.17
      AR DEV FIN AUTH-B-AMT FRN 9/1/2046 0.17
      MA DEV FIN AGY-REF 5 10/1/2047 0.17
      NY ST TRANS DEV CORP 5 12/1/2038 0.16
      CO EDUCTNL & CULT FAC 5.8 4/1/2054 0.16
      MET SAINT LOUIS SWR 5 5/1/2047 0.16
      ARIZONA IDA-B 4 7/1/2061 0.16
      GOLDEN ST TOBACCO -B 2.746 6/1/2034 0.16
      ARKANSAS UNIV BRD-A 5 11/1/2049 0.16
      FL LOCAL GOVT FIN-A 6 6/15/2045 0.16
      MISSION ECON DEV-AMT 4.625 10/1/2031 0.16
      N DAKOTA ST HSG FIN 4.5 7/1/2043 0.16
      GEO L SMITH II GA CON 5 1/1/2054 0.16
      VA SMALL BUS FIN-A 4 1/1/2045 0.16
      DIST OF COLUMBIA- REV 5 7/1/2049 0.16
      CMFA FIN AGY-A-2 4 8/1/2047 0.15
      CA CMNTY CLG AUTH 5.25 5/1/2048 0.15
      AZ IND DEV AUTH-A 5 11/1/2054 0.15
      CA ST MUNI FIN AUTH 5 6/1/2050 0.15
      CO UNIV REGENTS-A 5 6/1/2050 0.15
      CA CMNTY CHOICE FIN-H FRN 1/1/2056 0.15
      JPM-DRIVERS-XL0356 FRN 2/1/2042 0.15
      MIDA MOUNTAIN VLG-1 5.75 6/1/2060 0.15
      AR DEV FIN AUTH-AMT-A 6.875 7/1/2048 0.15
      MIAMI-DADE CO EDU FAC 5 4/1/2044 0.15
      SIERRA CLG #2-B-WESTE 0 8/1/2030 0.15
      CAPITAL TRUST AUTH-A 5 6/1/2054 0.15
      CALIFORNIA SCH FIN- A 5 8/1/2048 0.15
      CALIFORNIA ST MUNI FI 5 5/15/2037 0.15
      ILLINOIS ST 5.5 5/1/2039 0.15
      ILLINOIS ST 5.5 5/1/2030 0.15
      NY TRANSPRTN DEV CORP 6 6/30/2055 0.15
      PUB FIN AUTH-A 5 5/1/2060 0.15
      NEW JERSEY ECON DEV 6.375 1/1/2035 0.14
      CENTENNIAL WTR & SANT 5 12/1/2053 0.14
      ILLINOIS ST-B 5.25 5/1/2048 0.14
      BUILD NYC RESOURCE 5.5 7/1/2055 0.14
      LOS ANGELES DEPT-C 5 7/1/2054 0.14
      ILLINOIS ST-A 5 3/1/2046 0.14
      VA SMALL BUS FIN-A 4 1/1/2036 0.14
      AZ IND DEV AUTH-A 5 11/1/2049 0.14
      ILLINOIS ST -A 5 5/1/2042 0.14
      ARKANSAS DEV FIN AUTH 5.45 9/1/2052 0.14
      NATIONAL FIN AUTH-A 5.25 7/1/2048 0.14
      CHICAGO BOE-A 5.875 12/1/2047 0.14
      MAINE ST HSG AUTH MTG 4.7 11/15/2053 0.14
      COLLIER CO HLTH FACS 5 5/1/2045 0.14
      WI HLTH & EDU FACS-A FRN 2/15/2050 0.14
      CA EDUCTNL FACS-A 5 4/1/2047 0.14
      CLEVELAND ETC PORT 5.25 12/1/2038 0.14
      ALBANY CAP RESOURCE C 5 6/1/2064 0.14
      VA SMALL BUS FIN-A 4 1/1/2051 0.14
      JPM-DRIVERS-XL0357 FRN 5/15/2047 0.14
      AZ IDA SR LIVING-B 5.125 1/1/2059 0.13
      GDB DEBT RECOVERY AUT 7.5 8/20/2040 0.13
      PUB FIN AUTH-A 5 2/1/2062 0.13
      FLORIDA ST HGR EDUCTN 4.125 12/1/2054 0.13
      INDIANA FIN AUTH 4 2/1/2044 0.13
      MIDA CORMONT PUB-A-1 6.25 6/1/2055 0.13
      CALIFORNIA ST MUNI FI 5 5/15/2034 0.13
      NEW YORK CITY INDL 3 3/1/2036 0.13
      PUB FIN AUTH-REF 5.25 11/15/2061 0.13
      MIAMI-DADE CO-A-1-REV 4 10/1/2045 0.13
      PUB FIN AUTH-REF 5 9/1/2039 0.13
      SAN DIEGO CNTY CA-B 4 7/1/2051 0.12
      INDIANA FIN AUTH-A 5 6/1/2053 0.12
      MARICOPA CNTY AZ INDL 3 1/1/2049 0.12
      NJ TRANSPRTN TRUST-CC 5 6/15/2042 0.12
      IDAHO ST HLTH FACS AU 4 3/1/2051 0.12
      PA TPK COMM-A-REF 3 12/1/2051 0.12
      MATCHING FUND SPL-A 5 10/1/2032 0.12
      ILLINOIS ST-B 5 5/1/2038 0.12
      COLUMBIA-BRAZORIA ISD 5 2/1/2044 0.12
      LOMPOC UNIF SD-A 5.25 8/1/2054 0.12
      MIAMI-DADE CO EDU FAC 5 4/1/2045 0.12
      NY CITY TRANS FIN-F-1 5 2/1/2046 0.12
      DENVER URBAN RENWL-A 5.25 12/1/2039 0.05
      ILLINOIS ST-B 5.25 5/1/2045 0.12
      NEW JERSEY ECON DEV 6.625 1/1/2045 0.12
      HILLSBOROUGH CNTY FL 4 8/1/2045 0.12
      RESTRUCTURED-SER A-2 4.329 7/1/2040 0.12
      HOUSTON TX ARPT SYS R 4 7/15/2041 0.12
      CVI-SUBSER CW NT FRN 11/1/2043 0.12
      MA BAY TRANS AUTH-A-2 5 7/1/2052 0.11
      MA DEV FIN AGY-REF 5 10/1/2057 0.11
      CALIFORNIA CMNTY HSG 3 8/1/2056 0.11
      ILLINOIS ST-B 5.25 5/1/2049 0.11
      CHESAPEAKE-B-CONV CAB 4.875 7/15/2040 0.11
      MTEMS 2023-08FN PT 4.8 7/1/2045 0.11
      FAIRFAX CNTY SWR REV 5 7/15/2054 0.11
      WA ST HSG FIN COMM-2N 4.8 12/1/2043 0.11
      LANCASTER CO HOSP AUT 5 11/1/2046 0.11
      GUAM GOVT WTRWKS AUTH 5 1/1/2050 0.11
      MA DEV FIN-K1 5 10/1/2036 0.11
      CALIFORNIA ST MUNI FI 5 5/15/2043 0.11
      CAPITAL TRUST AUTH-A 5 6/1/2039 0.11
      MIAMI-DADE CNTY FL HL 5 8/1/2042 0.11
      CA EDUCTNL FACS-A 5 4/1/2042 0.11
      CA STATEWIDE CMNTY 5 5/15/2040 0.11
      OHIO-AMT-PORTSMOUTH 5 12/31/2039 0.11
      AZ INDL DEV EDU-B 5.625 7/1/2048 0.11
      MI FIN AUTH -A -REF-C 4 6/1/2040 0.11
      MILITARY INSTALLATION 4 6/1/2041 0.11
      CO EDUCTNL & CULT FAC 5.75 4/1/2059 0.11
      MA DEV FIN AGY 5 10/1/2046 0.11
      NEW YORK TRANSPRTN-A 4 12/1/2039 0.11
      PR SALES TAX FING-A1 0 7/1/2046 0.11
      SIERRA VISTA INDL DEV 5 6/15/2064 0.10
      AZ INDL DEV AUTH -A 4 6/1/2044 0.10
      CA MUNI FIN AUTH-A 5 7/1/2052 0.10
      MILITARY INSTALLATION 4 6/1/2052 0.09
      SAN DIEGO CNTY CA-B 4 7/1/2046 0.10
      VI PUB FIN AUTH-A 5 10/1/2029 0.10
      HOUSTON-B-AMT-REV 5.5 7/15/2039 0.10
      CA ST HLTH FACS AUTH 4.353 6/1/2041 0.10
      NY LIBERTY DEV CORP-A 3 11/15/2051 0.10
      MET PIER & EXPOSITION 4 12/15/2047 0.10
      CLIFTON HGR EDU-REF 4 8/15/2049 0.10
      PORT AUTH OF NEW YORK 5 10/15/2030 0.10
      CLIFTON HGR EDU-A 5.25 2/15/2049 0.10
      HALIFAX HOSP MED CTR 4.25 6/1/2054 0.10
      IDAHO ST HLTH FACS AU 4 3/1/2046 0.10
      LANCASTER CO HOSP AUT 5 11/1/2041 0.10
      DANBURY HGR EDU AUTH 5 8/15/2039 0.10
      CO SPRINGS SD#11-COPS 5.25 12/15/2048 0.10
      CO BRD GOVS-C-PREREFD 5 3/1/2043 0.10
      OH WTR DEV AUTH-C FRN 12/1/2054 0.10
      AZ INDL DEV AUTH-A 4 11/1/2049 0.10
      ARLINGTON TX HGR EDU 5 8/15/2048 0.10
      MONROE CO INDL DEV CO 5 7/1/2054 0.10
      MUNI ELEC AUTH OF GA 4 1/1/2049 0.10
      PUB FIN AUTH-REF 5.25 11/15/2055 0.10
      CA ST SCH FIN AUTH-A 4 8/1/2061 0.10
      BUILD NYC RESOURCE CO 5.25 7/1/2057 0.10
      MIDA MOUNTAIN VLG-1 5.5 6/1/2050 0.10
      BEXAR HLTH FACS-REF 5 7/15/2041 0.10
      DETROIT 5 4/1/2035 0.09
      CHICAGO BRD OF EDU 5 4/1/2042 0.09
      MD H/E ADJ POOLD LN-B FRN 4/1/2035 0.09
      CA MUNI FIN AUTH-A 5.5 9/1/2056 0.09
      PUB FIN AUTH-REF 5.25 6/15/2045 0.09
      KY ECON DEV-A-REF 5 12/1/2047 0.09
      TULSA MUNI ARPT TRUST 6.25 12/1/2040 0.09
      FL DEV FIN CORP-A 5 6/15/2040 0.09
      AZ INDL DEV AUTH-A 5 11/1/2044 0.09
      MS DEV BANK-WTR/SWR 6.875 12/1/2040 0.09
      DANBURY HGR EDU AUTH 4 8/15/2049 0.09
      AZ IDA SR LIVING-A2 5.125 1/1/2059 0.09
      GUAM INTERNATIONAL AR 5.25 10/1/2031 0.09
      MONTGOMERY CNTY PA HG 4 9/1/2044 0.09
      MIAMI DADE CO-A-REF 4 10/1/2040 0.09
      CLEVELAND ETC PORT 5.5 12/1/2043 0.09
      INDIANA FIN AUTH-A 5.125 6/1/2058 0.09
      OHIO ST-E-REV-REF 4 1/15/2038 0.09
      NY ST TWY AUTH-P-REV 5.25 1/1/2054 0.09
      NYC TRANSITIONAL-S-1A 3 7/15/2039 0.09
      CHICAGO BRD OF EDU 5 4/1/2046 0.09
      LEHIGH CO AUTH-REF 5.25 2/1/2054 0.09
      NYC INDL DEV AGY-A 3 1/1/2040 0.09
      PALM BEACH CO-REV-A 5.75 10/1/2055 0.09
      COLORADO ST HLTH FACS 5.25 11/1/2052 0.09
      CALIFORNIA STWD CMNTY 5.25 12/1/2038 0.09
      MIDA MOUNTAIN VLG-2 STEP-CPN 6/1/2043 0.09
      CA INFRASTRUCTURE-B 5 11/1/2049 0.09
      WEST VIRGINIA ST HOSP 5 9/1/2038 0.08
      MIDA MOUNTAIN VLG PUB 4 8/1/2050 0.08
      MONROE CO INDL DEV-A 4.72 1/1/2044 0.08
      AR DEV FIN AUTH 5 2/1/2035 0.08
      MAIN STREET NATURAL-A 5 5/15/2043 0.08
      WASHINGTON ST HLTH CA 5 9/1/2050 0.08
      CA INFRASTRUCTURE-B 5 11/1/2054 0.08
      MA DEV FIN AGY-LINDEN 5.125 11/15/2046 0.08
      BUILD NYC RESOURCE CO 5.25 7/1/2052 0.08
      CA MUNI FIN AUTH-A 5 7/1/2040 0.08
      CHICAGO IL BRD OF EDU 6 4/1/2046 0.08
      ARIZONA ST IDA-A 5 7/15/2049 0.08
      WI CENTER DIST-A-CABS 0 12/15/2046 0.08
      GUAM GOVT-A-REF 5 12/1/2046 0.08
      MIDA MOUNTAIN VLG-1 5.5 6/1/2055 0.08
      CALIFORNIA STWD CMNTY 5 4/1/2047 0.08
      MI FIN AUTH -A -REF-C 4 6/1/2038 0.08
      ATLANTA GA DEV AUTH 5.25 7/1/2044 0.08
      BATTERY PK CITY-D1 FRN 11/1/2038 0.08
      TEXAS ST-B-VAR-REMK FRN 12/1/2043 0.08
      CLEVELAND ETC PORT 5.5 12/1/2053 0.08
      VI PUB FIN AUTH-A 5 10/1/2034 0.08
      MA ST DEV FIN AGY-REF 5 4/15/2040 0.08
      GEISINGER PA AUTH HLT 4 4/1/2039 0.08
      CAPITAL TRUST AUTH-A 5 6/1/2044 0.08
      CALIFORNIA STWD CMNTY 4 4/1/2042 0.08
      IL FIN AUTH 5.25 4/1/2043 0.08
      CA MUNI FIN AUTH-A 5 10/1/2057 0.08
      WEST VIRGINIA ST HOSP 5 9/1/2039 0.08
      TEXAS ST PRIV ACTIVIT 4 6/30/2039 0.08
      OHIO ST-E-REV-REF 5 1/15/2036 0.08
      PR SALES TAX FING-A1 4.75 7/1/2053 0.08
      LOWER CO RIVER AUTH 5 5/15/2042 0.08
      ARIZONA IDA-B 4 7/1/2051 0.08
      FOOTHILL ESTRN TRANSP 2.962 1/15/2046 0.08
      CA MUNI FIN AUTH-A 5 10/1/2049 0.08
      MONTGOMERY CNTY OH 3 8/1/2040 0.08
      SPARTANBURG REGL HLTH 4 4/15/2036 0.08
      SC PUB SVC-A-UNREFUND 5 12/1/2036 0.08
      MET ATLANTA-B-REV 5 7/1/2044 0.07
      LANCASTER CO HOSP AUT 5 11/1/2040 0.07
      MIDA MOUNTAIN VETERAN 5 6/1/2044 0.07
      PR ELEC-REF-DDD 5 7/1/2022 0.07
      ARIZONA ST IDA-A 5 7/15/2039 0.07
      ARLINGTON HGR EDU FIN 5 12/1/2036 0.07
      GUAM INTERNATIONAL AR 5.375 10/1/2043 0.07
      MONROE CO INDL DEV CO 5 7/1/2044 0.07
      CENTRL TX REGL MOBILI 5 1/1/2045 0.07
      ATLANTA DEV AUTH-A-1 5 4/1/2034 0.07
      OHIO ST-E-REV-REF 4 1/15/2040 0.07
      ARIZONA INDL DEV AUTH 3 2/1/2045 0.07
      SIERRA VISTA INDL DEV 5 6/15/2059 0.07
      CA CMNTY CLG AUTH 5.25 5/1/2043 0.07
      S JERSEY PORT-B-AMT 5 1/1/2042 0.07
      AZ INDL DEV EDU-B 5.5 7/1/2038 0.07
      ONEIDA INDIAN NATION 6 9/1/2043 0.07
      OROVILLE CA REVENUE 5.25 4/1/2039 0.07
      CHICAGO 5 11/1/2038 0.07
      DETROIT 5 4/1/2036 0.07
      CHICAGO-A 5.5 1/1/2049 0.07
      CAPITAL TRUST AGY 5 12/15/2040 0.07
      CA MUNI FIN AUTH-A 5.25 11/1/2041 0.07
      MA H/E VAR-MUSEUM-A1 FRN 12/1/2037 0.07
      PUB FIN AUTH-REF 5.5 6/15/2055 0.07
      DIST OF COLUMBIA REV 4 7/1/2039 0.07
      CHICAGO BOE-A-REF 5 12/1/2026 0.07
      DETROIT 5 4/1/2033 0.07
      BUILD NYC RES CORP-A 5 12/1/2041 0.07
      NJ TRANSPR TRUST 5.5 6/15/2050 0.07
      DIST OF COLUMBIA REV 4 7/1/2049 0.06
      MA DEV FIN AGY-REF 4 7/1/2045 0.06
      FL ST DEV FIN CORP 5 6/1/2051 0.06
      LANCASTER CO HOSP AUT 5 11/1/2039 0.06
      PR SALES TAX FING-A1 0 7/1/2051 0.06
      LANCASTER CO HOSP AUT 5 11/1/2038 0.06
      PUBLIC FIN AUTH-A1 6.375 1/1/2048 0.06
      AR DEV FIN AUTH 5 2/1/2033 0.06
      DIST OF COLUMBIA REV 4 7/1/2044 0.06
      INDIANA FIN AUTH -A - 6.75 5/1/2039 0.06
      IL FIN AUTH-B-REF 5.25 4/1/2039 0.06
      BUILD NYC RESOURCE-A 5 6/15/2051 0.06
      CA MUNI FIN-A 5 7/1/2038 0.06
      IL FIN AUTH-A-REF 5.25 4/1/2042 0.06
      GUAM INTERNATIONAL AR 5.375 10/1/2033 0.06
      MET ATLANTA-B-REV 5 7/1/2042 0.06
      NJ TRANSPRTN TRUST-CC 5 6/15/2043 0.06
      GUAM PWR AUTH-A-REF 5 10/1/2033 0.06
      ILLINOIS ST-B 5 5/1/2039 0.06
      CAPITAL TRUST AGY 5 12/15/2035 0.06
      ARLINGTON HGR EDU FIN 5 6/15/2064 0.06
      TX PUB FIN AUTH-REV 5.25 5/1/2041 0.06
      ILLINOIS ST-B 5.25 5/1/2044 0.06
      MORONGO BAND OF MISSN 5 10/1/2042 0.06
      LOWER CO RIVER AUTH 5 5/15/2044 0.06
      FOWLER CO UNIF SD-B 3.375 8/1/2045 0.06
      NEW YORK ST DORM AUTH 5.5 10/1/2054 0.06
      WA HSG FIN CO-REV-REF 6.125 7/1/2053 0.06
      MIAMI-DADE EXPWY-A 5 7/1/2040 0.06
      MET GOVT NASHVILLE -A 5.25 7/1/2053 0.06
      POINT 1 DT#1-A-1 5.875 3/1/2045 0.06
      CA ST MUNI FIN AUTH-A 5 9/1/2049 0.06
      ILLINOIS ST-B 5.25 5/1/2047 0.06
      IL FIN AUTH -REV 5 6/1/2047 0.06
      RI HLTH & EDU BLDG 5.25 8/15/2043 0.06
      DETROIT 5 4/1/2029 0.06
      JEFFERSON CO-REF 5.25 10/1/2049 0.06
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      DETROIT 5 4/1/2031 0.06
      DETROIT 5 4/1/2034 0.06
      MIDA MOUNTAIN VLG-2 5.5 6/15/2039 0.06
      NEW YORK NY 3 3/1/2041 0.06
      LOS ANGELES -C-REF 5 7/1/2052 0.06
      REGL CO TRANS DT-A 4 7/15/2033 0.06
      VAIL HOME PARTNERS CO 5.875 10/1/2055 0.06
      LOS ANGELES -C-REF 5 7/1/2055 0.06
      TRANSBAY JT PWRS-A 5 10/1/2040 0.06
      DOWNTOWN DAYBREAK#1 5.625 3/1/2046 0.06
      HOUSTON TX ARPT SYS R 5 7/15/2027 0.06
      HOUSTON-C-REF-AMT 5 7/15/2027 0.06
      CALIFORNIA SCH FIN- A 5 8/1/2038 0.06
      SIERRA VISTA INDL DEV 6.5 6/15/2060 0.06
      CA SCH FIN-REV-REF 5 7/1/2049 0.06
      MASSACHUSETTS ST DEV 5 1/1/2040 0.06
      TRANSBAY JT PWRS-A 5 10/1/2045 0.06
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      CA SCH FIN AUTH-A-REF 5 6/1/2064 0.06
      MA DEV FIN AGY-REF 5 10/1/2037 0.06
      REGL CO TRANS DT-A 4 7/15/2035 0.06
      PENNSYLVANIA ST ECON 5 12/31/2057 0.06
      CA MUNI FIN AUTH-A 5 2/1/2042 0.06
      IRVINE IMPT BOND ACT 4 9/2/2029 0.06
      MIDA MOUNTAIN VLG-1 5.125 6/15/2054 0.06
      ARLINGTON TX HGR EDU 5 8/15/2038 0.06
      GOLDEN ST TOBACCO-B-2 0 6/1/2066 0.06
      LOUDOUN IDA VAR-F-HOW FRN 2/15/2038 0.06
      NYC MUNI WTR FIN-CC FRN 6/15/2056 0.06
      NTHRN CA TOBACCO-A 4 6/1/2039 0.05
      PALOMAR HLTH-REF 5 11/1/2039 0.05
      CHICAGO IL BRD OF EDU 5 12/1/2041 0.05
      IL FIN AUTH-A-REF 5.25 4/1/2043 0.05
      MILITARY INSTALLATION 4 6/1/2036 0.05
      NY TRANSPRTN DEV CORP 3 8/1/2031 0.05
      ARLINGTON HGR EDU FIN 4.875 6/15/2054 0.05
      PUB FIN AUTH-PIEDMONT 5 6/15/2053 0.05
      BUILD NYC RESOURCE-A 5 6/1/2047 0.05
      DETROIT 5 4/1/2028 0.05
      ALBANY CAP RESOURCE C 4.75 6/1/2054 0.05
      AZ ST INDL DEV AUTH 5 7/1/2049 0.05
      POTTSBORO HGR EDU-A 5 8/15/2046 0.05
      TRANSBAY JT PWRS-A 5 10/1/2039 0.05
      RESTRUCTURED-SER A1 5.75 7/1/2031 0.05
      ARIZONA IDA-A 4 7/1/2041 0.05
      RESTRUCTURED-SER A1 5.625 7/1/2029 0.05
      MIDA MOUNTAIN VLG PUB 4 8/1/2030 0.05
      RESTRUCTURED-SER A1 5.625 7/1/2027 0.05
      REGL CO TRANS DT-A 3 7/15/2037 0.05
      ARLINGTON HGR EDU FIN 4.875 6/15/2059 0.05
      MIDA MOUNTAIN VLG-1 5.25 6/1/2045 0.05
      GUAM INTERNATIONAL AR 5 10/1/2028 0.05
      MA DEV FIN AGY-N-REF 5 10/1/2043 0.05
      GA MUNI ELEC AUTH-A 4 1/1/2051 0.05
      PUB FIN AUTH-B 9 5/1/2071 0.05
      WASHINGTON HLTH CARE 4 12/1/2048 0.05
      DETROIT 5 4/1/2032 0.05
      OR COAST COMNTY-CONV 5 6/15/2045 0.05
      INDIANA FIN AUTH-A 5 6/1/2043 0.05
      TOBACCO SETTLEMENT-A2 4 6/1/2040 0.05
      CA SCH FIN AUTH-A 5 7/1/2047 0.05
      WASHINGTON ST HLTH CA 4 9/1/2050 0.05
      TOLEDO-LUCAS CO PORT 4 1/1/2051 0.05
      ARLINGTON TX HGR EDU 5 8/15/2053 0.05
      ARLINGTON HGR EDU FIN 4.75 6/15/2049 0.05
      CA SCH FIN AUTH-PRERE 5 6/1/2047 0.05
      IL FIN AUTH-A-REF 5.25 4/1/2044 0.05
      RESTRUCTURED-SER A1 4 7/1/2033 0.04
      NTHRN CA TOBACCO-A 4 6/1/2038 0.04
      RESTRUCTURED-SER A-2 4.784 7/1/2058 0.04
      OHIO ST-E-REV-REF 4 1/15/2039 0.04
      RESTRUCTURED-SER A1 4 7/1/2041 0.04
      NEW MEMPHIS ARENA PUB 4 4/1/2031 0.04
      INDIANA FIN AUTH-A 5 6/1/2038 0.04
      ARLINGTON HGR EDU FIN 4.5 6/15/2044 0.04
      RESTRUCTURED-SER A1 4 7/1/2046 0.04
      LOS ANGELES -C-REF 5 7/1/2049 0.04
      FOOTHILL ESTRN TRANSP 3.062 1/15/2043 0.04
      RESTRUCTURED-CABS-SER 0 7/1/2033 0.04
      MARLAND ECON DEV CORP 5 6/1/2049 0.04
      CHICAGO BRD OF EDU-A 4 12/1/2027 0.04
      GUAM INTERNATIONAL AR 5.25 10/1/2036 0.04
      TAMPA -A -REV -CABS 0 9/1/2045 0.04
      NEW YORK TRANSPRTN-A 5 12/1/2037 0.04
      WARM SPRINGS-B-REF 5 11/1/2036 0.04
      MET TRANS-C2-UNREFUND 5.175 11/15/2049 0.04
      WARM SPRINGS-B-REF 5 11/1/2039 0.04
      LOWELL COLLEGIATE 5 6/15/2049 0.04
      DETROIT 5 4/1/2030 0.04
      LOWELL COLLEGIATE 5 6/15/2054 0.04
      RESTRUCTURED-SER A1 4 7/1/2035 0.04
      LOUISIANA ST PUB FACS 3 6/1/2050 0.04
      HIDALGO CO-A 4 12/1/2041 0.04
      BUILD NYC RESOURCE-A 5 6/1/2037 0.04
      CA MUNI FIN AUTH-A 5.25 11/1/2047 0.04
      ARLINGTON HGR EDU FIN 4 8/15/2046 0.04
      MI TOB SETTLMT-CABS-C 0 6/1/2058 0.04
      OREGON ST-A-REF 5 5/1/2040 0.04
      ARIZONA IDA-B 4 7/1/2041 0.04
      CMFA SPL FIN AGY CA E 3 12/1/2056 0.04
      CA SCH FIN AUTH-UNREF 5 6/1/2047 0.04
      ARIZONA ST INDL DEV A 5 12/15/2049 0.04
      SC PUB SVC-A-PREREFD 5 12/1/2036 0.04
      UT ST CHRT SCH FIN-A 5 4/15/2044 0.04
      LANCASTER CO HOSP AUT 5 11/1/2037 0.03
      CHICAGO BRD OF EDU-B 5 12/1/2033 0.03
      RESTRUCTURED-SER A1 4 7/1/2037 0.03
      NEW MEMPHIS ARENA PUB 0 4/1/2032 0.03
      CA ST MUNI FIN AUTH 5 6/1/2035 0.03
      CA SCH FIN AUTH-A 5 7/1/2037 0.03
      CA ST SCH FIN AUTH-A 4 8/1/2051 0.03
      OREGON ST-A-REF 5.25 5/1/2042 0.03
      TAMPA -A -REV -CABS 0 9/1/2049 0.03
      TX PUB FIN AUTH-REV 5.25 5/1/2040 0.03
      GUAM INTERNATIONAL AR 5.375 10/1/2040 0.03
      LATROBE INDL DEV AUTH 4 3/1/2046 0.03
      IL FIN AUTH-A-REF 5.25 4/1/2041 0.03
      BUILD NYC RES CORP -A 4 6/15/2051 0.03
      LATROBE INDL DEV AUTH 4 3/1/2051 0.03
      A.B WON PAT AUTH-A 5 10/1/2032 0.03
      ARLINGTON HGR EDU FIN 4 8/15/2041 0.03
      FL DEV FIN IMAGINE 5 12/15/2034 0.03
      TAMPA -A -REV -CABS 0 9/1/2041 0.03
      DAYTON-MONTGOMERY-REV 5 12/1/2044 0.03
      FL DEV FIN IMAGINE 5 12/15/2039 0.03
      CA MUNI FIN AUTH-A 5.25 9/1/2055 0.03
      CALIFORNIA PUBLIC FIN 5 11/15/2036 0.03
      BUILD NYC RESOURCE-A 5 6/1/2032 0.03
      NTHRN CA TOBACCO-A 4 6/1/2037 0.03
      TAMPA -A -REV -CABS 0 9/1/2042 0.03
      BUILD NYC RES CORP -A 4 6/15/2041 0.03
      CA ST SCH FIN AUTH-A 4 8/1/2041 0.03
      MASSACHUSETTS ST DEV 4 10/1/2045 0.03
      VERNON-A-REF -REV 5 8/1/2039 0.03
      ARIZONA INDL DEV AUTH 4 12/15/2041 0.03
      US ULTRA BOND CBT JUN26 0.02
      VERNON-A-REF -REV 5 8/1/2041 0.02
      INDIANA FIN AUTH-A 5 6/1/2033 0.02
      PR SALES TAX FING-A1 0 7/1/2033 0.02
      FL DEV FIN IMAGINE 4 12/15/2029 0.02
      NEW YORK TRANSPRTN-A 5 12/1/2035 0.02
      PR SALES TAX FING-A1 0 7/1/2031 0.02
      ARIZONA ST INDL DEV A 5 12/15/2039 0.02
      VERNON-A-REF -REV 5 8/1/2040 0.02
      ALBANY CAP RESOURCE C 4.5 6/1/2044 0.02
      DEKALB CO DEV AUTH -A 5 6/1/2055 0.02
      OR COAST COMNTY-CONV 5 6/15/2039 0.02
      PENNSYLVANIA ST ECON 6.5 12/1/2038 0.02
      PR SALES TAX FING-A1 0 7/1/2029 0.02
      INDIANA FIN AUTH-A 5 6/1/2032 0.02
      BUILD NYC RES CORP -A 4 6/15/2056 0.02
      TX PUB FIN AUTH-REV 5.25 5/1/2039 0.02
      OR COAST COMNTY-CONV 5 6/15/2038 0.02
      ARLINGTON HGR EDU FIN 4 8/15/2036 0.02
      OR COAST COMNTY-CONV 5 6/15/2043 0.02
      CA ST SCH FIN AUTH-A 4 8/1/2036 0.02
      DEKALB CO DEV AUTH -A 5 6/1/2050 0.02
      GUAM INTERNATIONAL AR 5.25 10/1/2035 0.02
      PR SALES TAX FING-A1 0 7/1/2027 0.02
      CA SCH FIN-REV-REF 5 7/1/2039 0.01
      DEKALB CO DEV AUTH -A 5 6/1/2040 0.01
      LA PUB FAC-A-PREREFD 4 4/1/2050 0.01
      BUILD NYC RESOURCE-A 2.5 6/15/2031 0.01
      N CALIF GAS-LIBOR FRN 7/1/2027 0.01
      CALIFORNIA PUBLIC FIN 5 11/15/2051 0.01
      OR COAST COMNTY-CONV 5 6/15/2040 0.01
      OR COAST COMNTY-CONV 5 6/15/2042 0.01
      NY TRANSPRTN DEV CORP 2.25 8/1/2026 0.01
      PR SALES TAX FING-A1 4.55 7/1/2040 0.01
      MARLAND ECON DEV CORP 5 6/1/2044 0.01
      CVI-HTA 98 SR CLAIM FRN 11/1/2051 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2037 0.01
      CAPITAL TRUST AGY-A1 5 7/1/2048 0.01
      A.B WON PAT AUTH-B 5 10/1/2041 0.01
      NTHRN CA TOBACCO-A 4 6/1/2040 0.01
      A.B WON PAT AUTH-A 5 10/1/2034 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2035 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2038 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2039 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2040 0.01
      A.B WON PAT AUTH-B 5 10/1/2040 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2041 0.01
      A.B WON PAT AUTH-B 5 10/1/2042 0.01
      A.B WON PAT AUTH-B 5 10/1/2043 0.01
      MA CMWLTH -E-TXBL-REF 1.77 11/1/2032 0.00
      RESTRUCTURED-SER A-2 4.536 7/1/2053 0.00
      CA CMNTY HSG AGY-A 5 2/1/2050 0.00
      CAPITAL TRUST AGY-B 5 7/1/2053 0.00
      CASH -0.03

      % 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

          Performance Metrics

          Overall Morningstar Rating

          MORNINGSTAR CATEGORY Municipal National Intermediate

          Morningstar Rating™ as of 03/31/26. Overall rating for the Municipal National Intermediate. Fund ratings are out of 5 Stars: Overall 4 Stars (255 funds rated); 3 Yrs. 4 Stars (255 funds rated); 5 Yrs. 3 Stars (233 funds rated); 10 Yrs. 5 Stars (176 funds rated).
          The Morningstar Rating™ for funds, or "star rating", is calculated for managed products with at least a 3-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. Managed products; including open-end mutual funds, closed-end funds and exchange-traded funds; are considered a single population for comparative purposes. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-,and 10-year (if applicable) Morningstar Rating metrics. © Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

          Lipper Rankings

          • 1 Year
            179 out of 275
          • 3 Year
            30 out of 260
          • 5 Year
            34 out of 250
          • 10 Year
            16 out of 183

          LIPPER CLASSIFICATION General & Insured Municipal Debt Funds

          Lipper Category returns and rankings as of 03/31/26, are calculated by Lipper Inc., a Reuters Company, which is a nationally recognized organization that compares the performance of mutual funds with similar investment objectives. The Category returns represent the average performance of included funds, while rankings compare an individual fund's returns to those of the other funds in its category. Both are based on total return performance, with capital gains and dividends reinvested, with annual operating expenses deducted, but without including front or back-end sales charges. Rankings begin with the actual share class inception. Rankings are relative to a peer group and do not necessarily mean that the fund had high total returns. Rankings do not reflect sales loads

          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. Capital gains, if any, are taxable.

          Risk Metrics

          As of  03/31/26  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          BMOP
          		5.83 0.91 1.02 95.97 -0.16

          All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is Bloomberg U.S. Municipal Bond Index.


          Standard Deviation - Standard deviation is a statistical measure of the degree to which an individual portfolio return tends to vary from the mean, based on the entire population. The greater the degree of dispersion, the greater the degree of risk. In mutual funds, the standard deviation tells us how much the return on the fund is deviating from the expected normal returns.

          Alpha - Alpha is a measure of a security's or portfolio's excess return.

          Beta - Beta is a measure of a security’s or portfolio’s volatility, or systematic risk.

          R-Squared - R-squared is a statistical measure that represents the percentage of a fund’s or security’s movements that are explained by movements in a benchmark index.

          Sharpe Ratio - Sharpe ratio is a risk-adjusted measure that measures reward per unit of risk. The higher the Sharpe ratio, the better.

          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
          04/01/26 04/01/26 04/07/26 0.0529 0.0000 0.0000 0.0000 0.0529
          (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 0.0755 0.0000 0.0000 0.0000 0.0755
          02/02/26 02/02/26 02/05/26 0.0504 0.0000 0.0000 0.0000 0.0504
          Literature

          Literature

          PRODUCT INFORMATION

          • Download
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          THE BREADTH OF BONDS - MUNICIPAL OPPORTUNITIES BROCHURE Download
          ETF Profile Sheet Download

          BNY Mellon Municipal Opportunities 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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          Factsheet Download
          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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