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MYMI ETF — Holdings & Analysis

The State Street My2029 Municipal Bond ETF (MYMI) is an actively managed fixed-income ETF with approximately $0.01 billion in assets under management. Launched in September 2024 by SPDR, MYMI targets municipal bonds maturing in 2029, aiming to maximize tax-exempt current income while preserving capital. With an expense ratio of 0.20%, the fund distinguishes itself through a target maturity strategy, intending to liquidate around December 15, 2029, making it part of State Street's MyIncome ETFs designed for building custom bond ladder portfolios.

State Street My2029 Municipal Bond ETF (MYMI) ETF — Price, Holdings & Analysis

The State Street My2029 Municipal Bond ETF (MYMI) is an actively managed fixed-income ETF with approximately $0.01 billion in assets under management. Launched in September 2024 by SPDR, MYMI targets municipal bonds maturing in 2029, aiming to maximize tax-exempt current income while preserving capital. With an expense ratio of 0.20%, the fund distinguishes itself through a target maturity strategy, intending to liquidate around December 15, 2029, making it part of State Street's MyIncome ETFs designed for building custom bond ladder portfolios.

ETF Overview

The State Street My2029 Municipal Bond ETF is an actively managed target maturity strategy that provides exposure primarily to municipal bonds maturing in 2029 and is designed to distribute any remaining principal and liquidate on or about December 15, 2029.The fund seeks to maximize current income that is exempt from regular federal income taxes while seeking preservation of capital using a risk-aware, top-down approach combined with bottom-up security selection through rigorous fundamental research to construct a portfolio that seeks to overweight the most attractive sectors and issuers.The fund is one of the State Street MyIncome ETFs, a suite of target maturity funds allowing investors to efficiently build custom bond ladder portfolios to manage interest rate risks, cash flows, and liquidity needs.
MYMI, the State Street My2029 Municipal Bond ETF, is designed for investors seeking exposure to municipal bonds with a specific maturity target. The fund primarily invests in municipal bonds maturing in 2029, with the goal of distributing remaining principal and liquidating on or about December 15, 2029. This target maturity approach allows investors to manage interest rate risks and cash flows more predictably. MYMI employs an active management strategy, combining a top-down approach with bottom-up security selection. The fund seeks to overweight attractive sectors and issuers through rigorous fundamental research. As part of the State Street MyIncome ETFs suite, MYMI is intended to help investors construct custom bond ladder portfolios, catering to specific liquidity needs and investment horizons. Currently, the fund has a 100% allocation to Cash & Others, reflecting its current investment strategy.

Risk Metrics

MYMI's risk profile is shaped by its focus on municipal bonds and its target maturity structure. With a beta of 0.00 over the past three years, the fund exhibits very low volatility relative to the broader market. However, its concentration in 'Cash & Others' (100%) introduces a specific concentration risk, as the fund's performance is heavily reliant on the management of these cash holdings. The fund's expense ratio of 0.20% creates a minor drag on performance, which is important to consider in the context of its yield. Investors should be aware that the fund's strategy is tied to the 2029 maturity date, influencing its long-term performance and suitability.

Expense Ratio

0.20%

Sector Allocation

  • Cash & Others: 100.0%
  • Other: 100.0%

Dividend Yield

0.00%
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Risk Metrics

  • Beta: 0.00

Questions & Answers

What is MYMI and what does it track?

The State Street My2029 Municipal Bond ETF (MYMI) is a fixed-income ETF managed by SPDR. It primarily invests in municipal bonds that mature in the year 2029. The fund's objective is to maximize current income that is exempt from regular federal income taxes while seeking preservation of capital. MYMI aims to distribute any remaining principal and liquidate on or about December 15, 2029. It is part of the State Street MyIncome ETFs, a suite of target maturity funds designed to help investors build custom bond ladder portfolios to manage interest rate risks, cash flows, and liquidity needs.

What is the expense ratio for MYMI?

The expense ratio for MYMI is 0.20%. This means that for every $10,000 invested in the fund, $20 is used to cover the fund's operating expenses annually. While there isn't a defined category average for target maturity municipal bond ETFs, the expense ratio is relatively low compared to actively managed fixed income funds in general. This lower expense ratio can be beneficial for investors, as it reduces the cost of holding the ETF and potentially improves overall returns.

What are the top holdings in MYMI?

As of the latest data, MYMI's portfolio has a 100% allocation to 'Cash & Others'. This indicates that the fund is currently holding a significant portion of its assets in cash or other short-term instruments. While specific details on individual bond holdings are not available, the fund's investment strategy focuses on municipal bonds maturing in 2029. Investors should monitor the fund's holdings reports for updates on its specific bond positions as they are established.

Is MYMI a good long-term investment?

Whether MYMI is a suitable long-term investment depends on an investor's specific financial goals and risk tolerance. MYMI is designed to mature and liquidate around December 15, 2029, making it a short to medium-term investment rather than a long-term one. The fund's objective is to provide tax-exempt income and preserve capital until its target maturity date. Investors seeking exposure to municipal bonds with a defined maturity horizon may find MYMI appealing, but it is not intended to be a perpetual investment vehicle. Past performance does not guarantee future results.

How does MYMI compare to similar ETFs?

MYMI distinguishes itself from other ETFs through its target maturity structure, focusing on municipal bonds maturing in 2029. Unlike broad municipal bond ETFs, MYMI has a defined lifespan and aims to liquidate upon reaching its target date. Its expense ratio of 0.20% is competitive within the actively managed fixed income space. However, its AUM of $0.01 billion is relatively small compared to more established municipal bond ETFs. these may be worth researching factors when comparing MYMI to alternative options, aligning their choice with their specific investment objectives and risk preferences.

Does MYMI pay dividends?

According to the latest data, MYMI has a dividend yield of 0.00%. While the fund aims to maximize current income that is exempt from regular federal income taxes, the current yield reflects market conditions and the fund's specific holdings. Investors should monitor the fund's dividend distributions for any future payouts, as these can fluctuate based on the performance of the underlying municipal bonds and the fund's overall investment strategy.