(MUB) National Muni Bond - NYSE

The iShares National Muni Bond ETF (MUB) tracks an underlying index composed of U.S. municipal bonds, whose interest income is exempt from federal income tax and not subject to the alternative minimum tax. The fund is managed by BlackRock Fund Advisors (BFA) and commits at least 80% of its assets to the component securities of the underlying index, while investing at least 90% of assets in fixed income securities consistent with the indexs composition.

Municipal bonds are debt instruments issued by state, local, and regional governments, typically to finance public infrastructure such as schools, highways, water systems, and hospitals. The federal tax-exempt status of muni bond income generally appeals to investors in higher tax brackets seeking to reduce their taxable yield, and the National intermediate classification indicates exposure to issuers across the U.S. with intermediate-duration maturities, rather than being concentrated in a single state.