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PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (SMMU)SMMU
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Upturn Advisory Summary
09/09/2024: SMMU (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: 5.49% | Upturn Advisory Performance  3 | Avg. Invested days: 70 |
| Profits based on simulation | ETF Returns Performance  2 | Last Close 09/09/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 5.49% | Avg. Invested days: 70 |
Upturn Star Rating | ETF Returns Performance 2 |
| Profits based on simulation Last Close 09/09/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 45803 | Beta 0.32 |
52 Weeks Range 47.15 - 50.48 | Updated Date 09/19/2024 |
52 Weeks Range 47.15 - 50.48 | Updated Date 09/19/2024 |
AI Summarization
ETF PIMCO Short Term Municipal Bond Active Exchange-Traded Fund (MUNI)
Profile:
MUNI is an actively managed ETF that invests primarily in short-term, high-quality municipal bonds issued by state and local governments across the US. It aims to provide investors with current income exempt from federal and most state and local taxes.
Objective:
The primary objective of MUNI is to maximize tax-exempt income while managing interest rate and credit risks.
Issuer:
PIMCO (Pacific Investment Management Company)
Reputation and Reliability: PIMCO is a leading global investment management firm with over 50 years of experience and a strong track record of managing fixed-income investments.
Management: The ETF is managed by a team of experienced portfolio managers with expertise in municipal bonds.
Market Share:
MUNI has a market share of approximately 2.5% in the short-term municipal bond ETF space.
Total Net Assets:
As of November 13, 2023, MUNI has approximately $12.5 billion in total net assets.
Moat:
Active Management: MUNI's active management strategy allows the portfolio managers to select high-quality bonds and adjust the portfolio based on market conditions.
Experienced Management Team: The ETF benefits from PIMCO's vast experience and expertise in managing municipal bonds.
Focus on Tax-Exempt Income: MUNI's focus on short-term, high-quality municipal bonds provides investors with attractive tax-exempt income.
Financial Performance:
MUNI has consistently outperformed its benchmark index, the Bloomberg Barclays Short Municipal Bond Index, over different time periods.
Growth Trajectory:
The demand for tax-exempt income is expected to remain strong, supporting the growth of MUNI and the broader short-term municipal bond market.
Liquidity:
Average Trading Volume: MUNI has an average daily trading volume of over 2 million shares.
Bid-Ask Spread: The typical bid-ask spread for MUNI is around 0.10%.
Market Dynamics:
Interest Rate Risk: Rising interest rates can negatively impact the value of MUNI.
Credit Risk: The creditworthiness of the underlying municipal bonds can affect the ETF's performance.
Competitors:
- iShares National Muni Bond ETF (MUB)
- Vanguard Short-Term Tax-Exempt Bond ETF (VGSH)
- SPDR Nuveen Short Term Municipal Bond ETF (SHM)
Expense Ratio:
MUNI has an expense ratio of 0.25%.
Investment approach and strategy:
Strategy: MUNI actively manages its portfolio to maximize tax-exempt income while managing interest rate and credit risks.
Composition: The ETF invests primarily in short-term, high-quality municipal bonds issued by state and local governments across the US.
Key Points:
- Actively managed ETF focused on short-term, high-quality municipal bonds.
- Seeks to maximize tax-exempt income.
- Strong track record of outperforming its benchmark index.
- Experienced management team with expertise in municipal bonds.
- Average daily trading volume of over 2 million shares.
Risks:
- Interest rate risk
- Credit risk
- Market volatility
Who Should Consider Investing:
- Investors seeking tax-exempt income.
- Investors with a short-term investment horizon.
- Investors looking for diversification in their fixed-income portfolio.
Fundamental Rating Based on AI:
Based on an analysis of the factors discussed above, MUNI receives a 7 out of 10 rating. This rating considers MUNI's strong track record, experienced management team, and focus on tax-exempt income. However, investors should be aware of the risks associated with the ETF, such as interest rate and credit risk.
Resources:
- https://www.pimco.com/en-us/etfs/etf/muni
- https://finance.yahoo.com/quote/MUNI/
- https://www.bloomberg.com/quote/MUNI:US
Disclaimer:
This information is for educational purposes only and should not be considered investment advice. Please 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 PIMCO Short Term Municipal Bond Active Exchange-Traded Fund
The fund invests at least 80% of its assets in a diversified portfolio of debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax (Municipal Bonds). Municipal Bonds generally are issued by or on behalf of states and local governments and their agencies, authorities and other instrumentalities. It may only invest in U.S. dollar-denominated investment grade debt securities, rated Baa or higher.
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