Van Eck casts pre-refunded municipal bond ETF into US market

The ETF is designed for risk-averse investors by combining the credit quality of US Treasuries with tax-free muni yields. Pre-refunded munis are bonds that have been refinanced by their issuers and remain outstanding in the municipal market. The principal and interest of the bonds that constitute the index underlying the fund are secured by treasury obligations backed by the credit of the US government. The obligations include US Treasuries and State and Local Government Series bonds, which are

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