Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Intermediate

BSMU Top Performer Intra-day
Price $25.52
Today’s Change 2.06%
4:00pm 09/24/2021
BSMR Bottom Performer Intra-day
Price $25.81
Today’s Change -0.19%
11:20am 09/24/2021

ETF.com Insight

With 17 ETFs and over $3.77B in combined AUM, the Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Intermediate segment provides exposure to the U.S. space with a focus on Investment Grade securities.

Year-to-date, the best-performing ETF in the segment is the JPMorgan Municipal ETF (JMUB), with a total return of 1.66%. Meanwhile, the most popular ETF is the VanEck Intermediate Muni ETF (ITM) with $1.94BB in assets under management.

Investors should take a look at the VanEck Intermediate Muni ETF (ITM). This fund has been chosen as an Analyst Pick by FactSet, thus is the best ETF for the average investor. ITM tracks a market-value-weighted index of tax-exempt municipal bonds dated within the last 5 years and with nominal maturities of 6-17 years. ITM has an expense ratio of 0.24% and tracks the Bloomberg AMT-Free Intermediate Continuous Municipal Index.

Performance Dispersion

ETF.com Efficiency Insight

The average efficiency score in the Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Intermediate segment is 87 out of 100, with the iShares iBonds Dec 2024 Term Muni Bond ETF(IBMM) obtaining the highest rating of 92 out of 100.

Costs dominate the discussion around efficiency. ETFs in the segment have an average expense ratio of 0.20% per year, with the iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) having the lowest expense ratio, charging investors 0.18% yearly.

Investors should look for funds with tight tracking, such as the iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM), with a 12-month median tracking difference of -0.14%.

Tracking Difference (12 Month)

ETF.com Tradability Insight

The average tradability score in the Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Intermediate segment is 60 out of 100, with the VanEck Intermediate Muni ETF(ITM) obtaining the highest rating of 99 out of 100.

The VanEck Intermediate Muni ETF (ITM) is the undisputed segment leader when it comes to liquidity. The fund trades 5.91M in daily average volume. Investors should also find ample liquidity in the PIMCO Intermediate Municipal Bond Active ETF (MUNI), with $2.67M in daily dollar volume.

Use limit orders to trade funds such as the Invesco BulletShares 2026 Municipal Bond ETF(BSMQ), due to their double-digit market spreads.

ETF.com/ Block Liquidity

BSMT
5
4
3
2
1
MUNI
5
4
3
2
1
ITM
5
4
3
2
1
MMIT
5
4
3
2
1
IBMM
5
4
3
2
1
IBMN
5
4
3
2
1
IBMO
5
4
3
2
1
JMUB
5
4
3
2
1
IBMP
5
4
3
2
1
IBMQ
5
4
3
2
1
BSMO
5
4
3
2
1
BSMP
5
4
3
2
1
BSMR
5
4
3
2
1
BSMQ
5
4
3
2
1
BSMU
5
4
3
2
1
BSMS
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 Bloomberg Barclays Municipal Intermediate (5-10 Y) 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