New York Life Files High-Yield Municipal Bond ETF

The NYLIM MacKay Muni High Income ETF will invest primarily in tax-exempt municipal debt, with a strong emphasis on lower-rated and high-yield securities. The actively-managed fund typically expects to allocate at least 60% of assets to municipal bonds rated BBB+/Baa1 or below and may invest entirely in junk-rated municipals when opportunities warrant. Managed by MacKay Shields, the strategy combines macroeconomic analysis, fundamental credit research, and ESG risk assessment to identify attractive income opportunities across sectors, states, and issuers while maintaining flexibility to use derivatives and taxable municipal bonds.