QUICK SPARK: New ETF Targets High-Yield Municipal Bonds and Tax-Free Income
New York Life Investment Management launched the NYLIM MacKay Muni High Income ETF (NYSE: MMHI ), an actively managed ETF targeting high current income exempt from regular federal income tax. Managed by MacKay Municipal Managers, the fund is expected to invest at least 60% of assets in municipal securities rated BBB+/B