About the Index
Single State Municipal Bond Funds groupings according to CEFdata.com, excluding NY and CA Municipal Bond Funds groupings. 90-day average trade dollar $ liquidity over $100K. Equal weight each fund for the index. The index constituents will be rebalanced each quarter.
Index Performance
Current($) | Previous Day(%) | 1 Week(%) | 1 Month(%) | 3 Month(%) | 6 Month(%) | 1 Year(%) | 3 Year(%) | 5 Year(%) | MTD(%) | QTD(%) | YTD(%) | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Price | 1,299.19 | 0.37 | 1.06 | 1.64 | 5.98 | 6.92 | 6.05 | 7.00 | 5.73 | -0.26 | -0.26 | -0.26 | |||||||
NAV | 1,258.10 | 0.13 | 0.34 | 0.68 | 4.30 | 3.72 | 4.52 | 5.67 | 4.52 | 0.21 | 0.21 | 0.21 | |||||||
Difference | -0.24 | -0.72 | -0.95 | -1.68 | -3.20 | -1.52 | -1.33 | -1.22 | 0.47 | 0.47 | 0.47 | ||||||||
* Periods greater than 1 Year are annualized. ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00 |
2020 - Monthly Performance (%) | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2020 | |
Price | 2.70 | -1.16 | -7.26 | -5.86 | -2.74 | 4.52 | 2.53 | 4.22 | -1.89 | 3.77 | 0.78 | -1.37 | 3.14 | -0.23 | 4.62 | 2.48 | 6.97 | 6.97 | 8.24 |
NAV | 2.26 | 1.98 | -6.71 | -2.72 | -3.03 | 4.51 | 1.82 | 3.20 | 0.39 | 2.37 | -0.48 | 0.04 | 1.91 | -0.40 | 2.42 | 1.43 | 3.47 | 3.47 | 5.86 |
Difference | -0.44 | 3.13 | 0.55 | 3.14 | -0.29 | -0.00 | -0.70 | -1.02 | 2.28 | -1.40 | -1.26 | 1.41 | -1.23 | -0.18 | -2.20 | -1.05 | -3.50 | -3.50 | -2.39 |
2019 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2019 | |
Price | 4.27 | 1.97 | 2.55 | 9.03 | 1.14 | 2.10 | 0.68 | 3.96 | 13.35 | 3.38 | 1.73 | -0.92 | 4.20 | 0.67 | 0.13 | 1.40 | 2.20 | 6.50 | 20.71 |
NAV | 0.56 | 0.74 | 2.23 | 3.56 | 0.53 | 1.88 | 0.51 | 2.95 | 6.61 | 1.02 | 2.38 | -1.05 | 2.34 | -0.06 | 0.22 | 0.55 | 0.72 | 3.08 | 9.89 |
Difference | -3.71 | -1.23 | -0.32 | -5.47 | -0.61 | -0.21 | -0.17 | -1.02 | -6.73 | -2.36 | 0.65 | -0.13 | -1.86 | -0.72 | 0.10 | -0.84 | -1.48 | -3.42 | -10.82 |
2018 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2018 | |
Price | -2.45 | -1.17 | -0.88 | -4.44 | -0.57 | 1.05 | -0.18 | 0.30 | -4.16 | -0.19 | 0.43 | -2.62 | -2.38 | -1.79 | 1.75 | -0.13 | -0.19 | -2.56 | -6.61 |
NAV | -1.81 | -0.61 | 0.50 | -1.92 | -0.63 | 1.64 | 0.04 | 1.04 | -0.90 | 0.21 | 0.16 | -1.03 | -0.67 | -1.22 | 1.28 | 1.83 | 1.87 | 1.19 | 0.28 |
Difference | 0.64 | 0.56 | 1.39 | 2.52 | -0.06 | 0.59 | 0.22 | 0.74 | 3.26 | 0.39 | -0.27 | 1.58 | 1.71 | 0.57 | -0.48 | 1.96 | 2.06 | 3.76 | 6.90 |
2017 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2017 | |
Price | 1.81 | 1.01 | -0.54 | 2.28 | 1.97 | 1.27 | 0.02 | 3.29 | 5.65 | 2.52 | -0.00 | -1.25 | 1.23 | -0.56 | -0.38 | 0.77 | -0.19 | 1.05 | 6.75 |
NAV | 0.08 | 0.89 | 0.35 | 1.32 | 0.99 | 2.20 | -0.24 | 2.96 | 4.32 | 0.74 | 1.06 | -0.43 | 1.37 | 0.21 | -0.32 | 1.87 | 1.76 | 3.16 | 7.62 |
Difference | -1.73 | -0.12 | 0.89 | -0.96 | -0.98 | 0.93 | -0.26 | -0.33 | -1.32 | -1.77 | 1.06 | 0.82 | 0.14 | 0.77 | 0.07 | 1.10 | 1.95 | 2.11 | 0.87 |
2016 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2016 | |
Price | 1.59 | 2.19 | 2.60 | 6.51 | 2.47 | 0.19 | 4.13 | 6.90 | 13.86 | 0.90 | -0.58 | -1.31 | -1.00 | -4.68 | -5.05 | 0.32 | -9.21 | -10.12 | 2.34 |
NAV | 1.12 | -0.00 | 0.92 | 2.05 | 1.15 | 0.62 | 2.52 | 4.34 | 6.47 | -0.29 | 0.34 | -0.78 | -0.73 | -1.51 | -5.71 | 1.82 | -5.44 | -6.13 | -0.05 |
Difference | -0.46 | -2.20 | -1.68 | -4.46 | -1.32 | 0.43 | -1.61 | -2.56 | -7.38 | -1.19 | 0.92 | 0.53 | 0.26 | 3.18 | -0.65 | 1.51 | 3.78 | 3.99 | -2.39 |
2015 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2015 | |
Price | 4.36 | -1.52 | -0.35 | 2.40 | 0.45 | -2.26 | -1.76 | -3.56 | -1.24 | 1.12 | 0.71 | 0.53 | 2.38 | 2.88 | 0.17 | 2.79 | 5.92 | 8.44 | 7.10 |
NAV | 2.27 | -1.59 | 0.46 | 1.11 | -1.00 | -0.40 | -0.35 | -1.74 | -0.66 | 0.93 | 0.50 | 0.81 | 2.25 | 0.54 | 0.76 | 1.65 | 2.99 | 5.31 | 4.62 |
Difference | -2.09 | -0.07 | 0.82 | -1.30 | -1.45 | 1.86 | 1.41 | 1.81 | 0.58 | -0.19 | -0.21 | 0.28 | -0.12 | -2.33 | 0.59 | -1.13 | -2.94 | -3.13 | -2.48 |
Performance Chart
Discount
Characteristics
PORTFOLIO Weighted Average Data |
||||
---|---|---|---|---|
Discount -8.72% |
1Yr Disc -11.10% |
3Yr Disc -11.92% |
5Yr Disc -9.82% |
Rel Disc Range (3yr) 81.58% |
Mkt Yield 4.34% |
Lev Adj NAV Yield 2.89% |
After Tax Yield* 4.34% |
Est Tax Friction* 0.00% |
3Yr NAV Volatiliy 7.67 |
1 Yr RoC 0.56% |
3 Yr Dest RoC 0.00% |
Leverage 36.72% |
Non Lev Exp Ratio 1.00% |
Beta (2yr) 0.35 |
Equity Exposure 0.11% |
Bond Exposure 99.68% |
# Holdings 14 |
Cash Weighted Duration 9.07 |
|
Comp NAV TR 0.44% |
Comp Discount -1.41% |
Net Assets (M) 356 |
Liquidity - 90d (K) 514 |
|
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%. |
Asset Allocation
Top Ten States Weighted Average Data |
||
---|---|---|
1 | PA | 19.0% |
2 | NJ | 18.1% |
3 | MI | 12.9% |
4 | MN | 6.8% |
5 | AZ | 6.3% |
6 | OH | 5.9% |
7 | GA | 5.5% |
8 | MD | 5.2% |
9 | VA | 4.5% |
10 | PR | 2.6% |
Constituents
14 Funds
Ticker | Name | Sponsor | Allocation | Discount | Market Yield | RoC(1yr) | Leverage | Net Assets | Liquidity (90d) |
---|---|---|---|---|---|---|---|---|---|
MIY | BR MuniYld MI Qlty Fd | BlackRock | 7.19 | -7.99 | 4.60 | 0.00 | 36.82 | 469 | 604 |
MPA | BR MuniYld PA Qlty Fd | BlackRock | 7.01 | -10.65 | 4.52 | 0.00 | 38.83 | 217 | 291 |
MUJ | BR MuniHldg NJ Qlty Fd | BlackRock | 7.16 | -10.80 | 5.23 | 0.00 | 38.16 | 487 | 704 |
MYJ | BR MuniYld NJ Fd | BlackRock | 7.14 | -11.32 | 5.20 | 0.00 | 38.47 | 392 | 730 |
NAZ | Nuv AZ Qlty Muni Incm Fd | Nuveen | 7.17 | 3.25 | 3.78 | 0.00 | 37.02 | 178 | 270 |
NKG | Nuv GA Qlty Muni Incm Fd | Nuveen | 7.10 | -10.12 | 4.17 | 0.00 | 34.21 | 150 | 280 |
NMY | Nuv MD Qlty Muni Incm Fd | Nuveen | 7.13 | -8.71 | 4.53 | 0.00 | 37.12 | 356 | 476 |
NPV | Nuv VA Qlty Muni Incm Fd | Nuveen | 7.07 | 2.08 | 3.71 | 0.00 | 35.27 | 275 | 333 |
NQP | Nuv PA Qlty Muni Incm Fd | Nuveen | 7.04 | -10.96 | 4.73 | 0.00 | 38.26 | 597 | 659 |
NUM | Nuv MI Qlty Muni Incm Fd | Nuveen | 7.29 | -7.40 | 4.07 | 0.00 | 39.89 | 328 | 745 |
NUO | Nuv OH Qlty Muni Incm Fd | Nuveen | 7.16 | -11.94 | 3.76 | 0.00 | 34.62 | 325 | 278 |
NXJ | Nuv NJ Qlty Muni Incm Fd | Nuveen | 7.15 | -14.74 | 4.90 | 0.00 | 37.66 | 698 | 815 |
VMM | DI MN Muni Incm Fd II | Delaware | 7.25 | -11.75 | 2.93 | 0.00 | 30.63 | 173 | 292 |
VPV | Invsc PA Val Muni Incm Tr | Invesco | 7.16 | -10.96 | 4.71 | 0.56 | 37.19 | 341 | 712 |