VanEck Files New York Muni Ladder ETFs Spanning 5 and 10 Years

VanEck has filed for the New York 0-5 Year Muni Ladder ETF (NYV) and New York 0-10 Year Muni Ladder ETF (NYX). NYV will track the FTSE New York AMT-Free Municipal Bond 0-5 Years Ladder Index, while NYX will track the FTSE New York AMT-Free Municipal Bond 0-10 Years Ladder Index. The indexes hold investment-grade New York municipal bonds across five and ten equal-weighted maturity rungs that roll forward monthly. Eligible bonds are exempt from federal income tax and AMT, while housing and tobacco bonds are excluded. Both funds will invest at least 80% of assets in New York munis whose income is generally exempt from federal and New York state income taxes.