Fixed Income:U.S. Government, Local Authority/Municipal Broad Credit Broad Maturities

MCEF Top Performer Intra-day
Price $19.71
Today’s Change 0.33%
4:00pm 08/07/2020
MAAX Bottom Performer Intra-day
Price $24.73
Today’s Change 0.00%
4:00pm 08/07/2020

ETF.com Insight

With 8 ETFs and over $2.12B in combined AUM, the Fixed Income:U.S. Government, Local Authority/Municipal Broad Credit Broad Maturities segment provides exposure to the U.S. space with a focus on Broad Credit securities.

Year-to-date, the best-performing ETF in the segment is the Columbia Multi-Sector Municipal Income ETF (MUST), with a total return of 4.41%. Meanwhile, the most popular ETF is the First Trust Managed Municipal ETF (FMB) with $1.61BB in assets under management.

Investors should take a look at the (). This fund has been chosen as an Analyst Pick by FactSet, thus is the best ETF for the average investor. has an expense ratio of -- and tracks the .

ETF.com Efficiency Insight

The average efficiency score in the Fixed Income:U.S. Government, Local Authority/Municipal Broad Credit Broad Maturities segment is 79 out of 100, with the American Century Diversified Municipal Bond ETF(TAXF) obtaining the highest rating of 90 out of 100.

Costs dominate the discussion around efficiency. ETFs in the segment have an average expense ratio of 0.84% per year, with the Columbia Multi-Sector Municipal Income ETF (MUST) having the lowest expense ratio, charging investors 0.23% yearly.

Investors should look for funds with tight tracking, such as the Columbia Multi-Sector Municipal Income ETF (MUST), with a 12-month median tracking difference of 0.32%.

Tracking Difference (12 Month)

ETF.com Tradability Insight

The average tradability score in the Fixed Income:U.S. Government, Local Authority/Municipal Broad Credit Broad Maturities segment is 56 out of 100, with the First Trust Managed Municipal ETF(FMB) obtaining the highest rating of 97 out of 100.

The First Trust Managed Municipal ETF (FMB) is the undisputed segment leader when it comes to liquidity. The fund trades 5.86M in daily average volume. Investors should also find ample liquidity in the Hartford Municipal Opportunities ETF (HMOP), with $1.86M in daily dollar volume.

Use limit orders to trade funds such as the First Trust Municipal CEF Income Opportunity ETF(MCEF), due to their double-digit market spreads.

ETF.com/ Block Liquidity

MAAX
5
4
3
2
1
FMB
5
4
3
2
1
XMPT
5
4
3
2
1
HMOP
5
4
3
2
1
FMHI
5
4
3
2
1
TAXF
5
4
3
2
1
MUST
5
4
3
2
1
MCEF
5
4
3
2
1
This measurement shows how easy it is to trade 25,000 shares of each ETF.

ETF.com Fit Insight

The Barclays Municipal Bond has been selected as the index that most accurately represents the market in question. The benchmark has been selected by the ETF Analytics team at FactSet, according to a series of guidelines to ensure this index accurately captures its market.

Investors trying to match a broad market exposure should pay attention to . This fund obtains a high Fit score and investors should capture market-like returns.

Other funds diverge from the market, by nature of their investment mandates; for example, follows a strategy and obtains a low Fit score compared with our neutral benchmark.

Index Methodology