Macquarie Asset Management has launched the Macquarie National High-Yield Municipal Bond ETF (HTAX), expanding its active exchange-traded fund (ETF) platform. This new offering is managed by the firm's Municipal Bond Team and shares an investment objective similar to their flagship high yield municipal bond mutual fund.
The HTAX aims to maximize returns through a research-driven, income-focused approach while managing risk. It leverages Macquarie's expertise in municipal bonds, which encompasses $11.8 billion in assets under management. The ETF provides tax-advantaged income and competitive risk-adjusted return potential with lower volatility compared to dividend-paying stocks and other fixed-income sectors.
Gregory Gizzi, Head of US Fixed Income and Head of Municipal Bonds at Macquarie Asset Management, stated, "We believe high yield municipal bonds can provide investors with a reliable source of tax-advantaged income, and active management is essential to finding opportunities in the over $US4 trillion municipal bond market." He added that HTAX utilizes a yield-focused philosophy supported by comprehensive research.
Anthony Caruso, Head of ETF Strategy at Macquarie Asset Management, commented on the launch: "Today’s launch marks an exciting expansion of our active ETF lineup. Offering investors access to our flagship high yield municipal bond strategy within the convenience of an ETF underscores our commitment to delivering exceptional service to our clients."
This new ETF is Macquarie's second actively managed municipal bond ETF following the Macquarie Tax-Free USA Short Term ETF (STAX). Since November 2023, Macquarie has introduced over a dozen active ETFs across the US and Australia.
Barron’s ranked Macquarie Asset Management as #1 in the tax-exempt bond category for 2023 and 2020 based on one-year relative performance among diversified actively managed mutual funds and ETFs. This ranking excludes index funds and reflects firms' skills in active management.
Investors are advised to consider investment objectives, risks, charges, and expenses before investing. Detailed information can be found in fund prospectuses available on Macquarie's website or by contacting them directly.
Macquarie ETFs are distributed by Foreside Financial Services LLC, which is not affiliated with any entity within the Macquarie Group. The funds are actively managed rather than replicating specific indices.
Investing in ETFs involves risks including potential loss of principal. The value of investments will fluctuate according to changes in securities within the fund's portfolio.