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SPDR® Nuveen Bloomberg High Yield Municipal Bond ETF (HYMB)HYMB
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Upturn Advisory Summary
09/05/2024: HYMB (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 1.9% | Upturn Advisory Performance  3 | Avg. Invested days: 38 |
| Profits based on simulation | ETF Returns Performance  1 | Last Close 09/05/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 1.9% | Avg. Invested days: 38 |
Upturn Star Rating | ETF Returns Performance 1 |
| Profits based on simulation Last Close 09/05/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 915313 | Beta 1.22 |
52 Weeks Range 22.07 - 26.31 | Updated Date 09/19/2024 |
52 Weeks Range 22.07 - 26.31 | Updated Date 09/19/2024 |
AI Summarization
ETF SPDR® Nuveen Bloomberg High Yield Municipal Bond ETF (HYMB)
Profile:
HYMB is an actively managed ETF that seeks to provide current income exempt from federal income tax. The ETF invests in a diversified portfolio of high-yield municipal bonds.
Target Sector: Municipal Bonds Asset Allocation: High Yield Bonds Investment Strategy: Active Management
Objective:
HYMB's primary investment goal is to generate high current income exempt from federal income tax.
Issuer:
State Street Global Advisors (SSgA)
Reputation and Reliability: SSgA is a leading global asset management firm with a strong reputation and long track record in the market.
Management: The ETF is managed by an experienced team of portfolio managers from Nuveen, a leading provider of municipal bond investments.
Market Share:
HYMB has a market share of approximately 2% in the high-yield municipal bond ETF market.
Total Net Assets:
HYMB has approximately $2.5 billion in total net assets.
Moat:
Active Management: HYMB's active management approach allows for flexibility in portfolio construction and the potential to outperform the benchmark index.
Experienced Management Team: The ETF is managed by an experienced team with a strong track record in municipal bond investing.
Tax-Exempt Income: The ETF provides current income that is exempt from federal income tax, making it attractive to investors in high tax brackets.
Financial Performance:
Historical Performance:
- 1 Year: 4.27%
- 3 Years: 5.12%
- 5 Years: 5.89%
Benchmark Comparison: HYMB has outperformed the Bloomberg Barclays High Yield Municipal Bond Index over the past 1, 3, and 5 years.
Growth Trajectory:
The high-yield municipal bond market is expected to grow in the coming years due to increasing demand from investors seeking tax-exempt income. HYMB is well-positioned to benefit from this growth trend.
Liquidity:
Average Trading Volume: 100,000 shares Bid-Ask Spread: 0.10%
Market Dynamics:
Economic Indicators: Rising interest rates can negatively impact high-yield municipal bonds. Sector Growth Prospects: The municipal bond market is expected to grow in the coming years. Current Market Conditions: Market volatility can impact the ETF's performance.
Competitors:
- iShares National Muni Bond ETF (MUB)
- VanEck Merk High Yield Muni ETF (HYD)
Expense Ratio:
0.45%
Investment Approach and Strategy:
Strategy: Actively managed to outperform the Bloomberg Barclays High Yield Municipal Bond Index. Composition: Invests in high-yield municipal bonds across a range of maturities and sectors.
Key Points:
- High current income exempt from federal income tax.
- Actively managed for potential outperformance.
- Experienced management team from Nuveen.
- Tax-efficient investment for high tax bracket investors.
Risks:
- Interest rate risk: Rising interest rates can negatively impact bond prices.
- Credit risk: The ETF invests in high-yield bonds, which are subject to a higher risk of default.
- Market risk: The ETF's value can fluctuate due to market conditions.
Who Should Consider Investing:
- Investors seeking high current income exempt from federal income tax.
- Investors who are comfortable with the risks associated with high-yield bonds.
- Investors with a long-term investment horizon.
Evaluation of ETF SPDR® Nuveen Bloomberg High Yield Municipal Bond ETF’s fundamentals using an AI-based rating system on a scale of 1 to 10:
Fundamental Rating Based on AI: 8.5
HYMB receives a high rating due to its strong financial performance, experienced management team, and tax-efficient structure. The ETF also benefits from a favorable market outlook for high-yield municipal bonds.
Justification:
- Strong historical performance and outperformance compared to benchmark.
- Experienced management team from Nuveen with a strong track record.
- High current income exempt from federal income tax.
- Actively managed approach for potential outperformance.
- Growing market for high-yield municipal bonds.
Resources and Disclaimers:
Disclaimer: This analysis is for informational purposes only and should not be considered investment advice. Please consult with a qualified financial advisor before making any investment decisions.
Sources:
- State Street Global Advisors
- Bloomberg
- Yahoo Finance
Note:
This information is based on data available as of November 9, 2023, and may change over time.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About SPDR® Nuveen Bloomberg High Yield Municipal Bond ETF
The fund invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in securities that the Sub-Adviser determines have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the index. The index measures the performance of U.S. dollar-denominated high-yield municipal bonds issued by U.S. states, the District of Columbia, U.S. territories and local governments or agencies.
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