SPDR Nuveen Bloomberg High Yield Municipal Bond ETF

High-yield municipal bonds are the niche this fund works. HYMB holds lower-rated and unrated debt issued by US states, cities, and local projects, the kind of paper that pays more because it carries more credit risk than investment-grade munis. The draw is tax-exempt income: interest from most municipal bonds escapes federal tax, which makes the yields especially attractive to investors in high tax brackets. State Street runs it under the SPDR brand, with Nuveen, a long-standing municipal specialist, sub-advising the portfolio and picking the credits. The fund follows a Bloomberg high-yield muni index and holds hundreds of issues to spread default risk across many borrowers. Buyers are typically income-seekers who want more yield than safe munis offer and can stomach the extra volatility and occasional defaults that come with the high-yield end of the market.

On MyRWA, HYMB trades tokenized across 1 on-chain venue - see the listings below.