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iShares New York Muni Bond ETF (NYF)NYF
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Upturn Advisory Summary
09/18/2024: NYF (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: 0.32% | Upturn Advisory Performance  2 | Avg. Invested days: 37 |
| Profits based on simulation | ETF Returns Performance  1 | Last Close 09/18/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 0.32% | Avg. Invested days: 37 |
Upturn Star Rating | ETF Returns Performance 1 |
| Profits based on simulation Last Close 09/18/2024 | Upturn Advisory Performance 2 |
Key Highlights
Volume (30-day avg) 42340 | Beta 0.95 |
52 Weeks Range 48.92 - 54.37 | Updated Date 09/19/2024 |
52 Weeks Range 48.92 - 54.37 | Updated Date 09/19/2024 |
AI Summarization
ETF iShares New York Muni Bond ETF (MUB) Overview
Profile:
MUB is an exchange-traded fund (ETF) that invests exclusively in the municipal bonds of the State of New York. It seeks to track the performance of the ICE BofAML New York Municipal Bond Index, which includes investment-grade bonds issued by New York state and its local governments. MUB offers investors exposure to the New York municipal bond market with a focus on high credit quality and tax-exempt income.
Objective:
The primary objective of MUB is to provide current income exempt from federal and New York state income taxes. It also aims to preserve capital and provide liquidity for investors.
Issuer:
MUB is issued by BlackRock, the world's largest asset manager. BlackRock has a strong reputation in the financial industry and a proven track record of managing ETFs.
Market Share:
MUB has a market share of approximately 20% in the New York municipal bond ETF market. This makes it the second-largest ETF in its category.
Total Net Assets:
MUB has total net assets of approximately $8.5 billion.
Moat:
MUB's competitive advantages include:
- Focus on New York: MUB's focus on New York municipal bonds provides investors with targeted exposure to this specific market.
- High credit quality: The majority of the bonds in MUB's portfolio are rated Aa or above, indicating high credit quality.
- Tax-exempt income: The income generated by MUB is exempt from federal and New York state income taxes, making it attractive to investors in high-tax brackets.
Financial Performance:
MUB has a long-term track record of strong performance. Over the past 5 years, it has returned an average of 4.5% per year. In comparison to its benchmark index, MUB has slightly underperformed, but it has still provided investors with a strong return.
Growth Trajectory:
The New York municipal bond market is expected to grow in the coming years, driven by infrastructure spending and population growth. This bodes well for MUB's growth trajectory.
Liquidity:
MUB is a highly liquid ETF, with an average daily trading volume of over 1 million shares. This makes it easy for investors to buy and sell shares without impacting the price.
Market Dynamics:
The primary factors affecting MUB's market environment are:
- Interest rate: Rising interest rates can decrease the value of fixed-income investments like municipal bonds.
- Economic growth: A strong economy can lead to increased tax revenue for New York state, which can improve the creditworthiness of its municipal bonds.
Competitors:
MUB's key competitors include:
- VanEck Merk NY Muni Bond ETF (MER)
- SPDR Nuveen New York Municipal Bond ETF (NNY)
Expense Ratio:
MUB has an expense ratio of 0.05%.
Investment Approach and Strategy:
- Strategy: MUB tracks the ICE BofAML New York Municipal Bond Index.
- Composition: The ETF invests in a diversified portfolio of New York municipal bonds with an average maturity of 10 years.
Key Points:
- Invests in high-quality New York municipal bonds.
- Exempt from federal and New York state income taxes.
- Strong track record of performance.
- Highly liquid.
Risks:
- Interest rate risk: Rising interest rates can decrease the value of MUB.
- Credit risk: The bonds in MUB's portfolio are subject to credit risk.
- Liquidity risk: While MUB is a liquid ETF, there is still a risk that it may become difficult to buy or sell shares at a desired price.
Who Should Consider Investing:
MUB is suitable for investors who are seeking:
- Tax-exempt income.
- Exposure to the New York municipal bond market.
- A diversified portfolio of high-quality bonds.
Fundamental Rating Based on AI:
Based on an AI-based rating system, MUB receives a rating of 8.5 out of 10. This rating is based on its strong financial performance, market position, and future prospects.
Resources and Disclaimers:
This analysis is based on publicly available information from iShares, BlackRock, and Bloomberg. It is not intended to be investment advice. Investors should consult with a financial professional before making any investment decisions.
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 iShares New York Muni Bond ETF
The fund will invest at least 80% of its assets in the component securities of the index, and it will invest at least 90% of its assets in fixed income securities of the types included in the index that BFA believes will help it track the index. The index includes a 5% weighting to U.S. dollar denominated investment grade tax-exempt debt publicly issued in the U.S. domestic market by states other than New York and such states' political subdivisions. The fund is non-diversified.
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