Victory Capital Launches Short-Duration and High-Yield Municipal ETFs

Victory Capital has launched two actively managed funds: the VictoryShares Short-Duration Municipal ETF (VMSD) and VictoryShares Municipal High Yield ETF (VMHY). VMSD seeks federally tax-exempt interest income, primarily holding investment-grade municipal securities with up to 20% in high-yield municipals. It targets an effective duration within two years of the Bloomberg Municipal 3 Year (2-4) Total Return Index. VMHY seeks total return through federally tax-exempt income and capital appreciation, investing primarily in high-yield municipal bonds alongside investment-grade securities. Both apply relative-value analysis and credit research, offering different approaches to duration and credit exposure.