State Street Global Advisors-advised funds, through its Tax-Free Intermediate Fund (TFI), employs a sampling strategy to track the Bloomberg Municipal Managed Money 1-25 Years Index. This strategy allows flexibility in purchasing a subset of securities from the index while maintaining similar risk-return characteristics. Nuveen Asset Management, the fund's investment sub-adviser, makes decisions on portfolio holdings based on various factors, including fund size. Under normal market conditions, TFI invests primarily in securities from the index, ensuring at least 80% of its assets mirror the index components or have similar economic traits. Moreover, the fund aims to allocate at least 80% of its net assets, along with borrowed funds, into federally tax-exempt investments. Additionally, TFI may invest in non-index debt securities, cash equivalents, or money market instruments. Concentration in specific industries mirrors the index's industry concentration. The Bloomberg Municipal Managed Money 1-25 Years Index itself represents the U.S. tax-exempt bond market, comprising various municipal securities such as general obligation, revenue, pre-refunded, and insured bonds issued by states, cities, counties, and districts. The index's rigorous eligibility criteria ensure inclusion of high-quality, dollar-denominated bonds rated Aa3/AA- or higher by major rating agencies, with rebalancing occurring monthly. Sponsored by Bloomberg Index Services Limited, the Index Provider determines index composition and weightings independently from the fund's management entities.
TFI Dividend, as part of the State Street Global Advisors-advised funds, is designed to provide investors with income from the tax-exempt bond market. Utilizing a sampling strategy to mirror the Bloomberg Municipal Managed Money 1-25 Years Index, the fund seeks to maintain comparable risk-return profiles while investing primarily in securities from the index, ensuring at least 80% of its assets replicate index components or have similar economic characteristics. Managed by Nuveen Asset Management, TFI Dividend aims to allocate a significant portion of its portfolio to federally tax-exempt investments, with at least 80% of its net assets, plus borrowing for investment purposes, focused on such securities. Additionally, the fund may diversify its holdings by investing in non-index debt securities, cash equivalents, or money market instruments. This strategy not only aims to generate dividends for investors but also provides exposure to a broad range of high-quality municipal bonds while maintaining tax efficiency.
TFI Tracking, under the guidance of State Street Global Advisors and advised funds, operates with the goal of closely mirroring the performance of the Bloomberg Municipal Managed Money 1-25 Years Index. Employing a sampling strategy overseen by Nuveen Asset Management, the fund aims to replicate the risk and return characteristics of the index by investing in a subset of its securities. This approach allows TFI Tracking to efficiently allocate its assets, with at least 80% of its total assets typically invested in securities from the index or those with similar economic traits. Furthermore, the fund prioritizes investments in federally tax-exempt securities, aiming to allocate at least 80% of its net assets, along with borrowed funds, to such instruments. Additionally, TFI Tracking may include non-index debt securities, cash equivalents, or money market instruments in its portfolio. By closely tracking the index, this fund provides investors with a transparent and systematic approach to gain exposure to the tax-exempt bond market while aiming for consistent performance.
TFI Correlation, within the suite of State Street Global Advisors-advised funds, operates with the objective of maintaining a strong correlation with the Bloomberg Municipal Managed Money 1-25 Years Index. Managed by Nuveen Asset Management, the fund employs a sampling strategy to replicate the risk and return characteristics of the index by investing in a carefully selected subset of its securities. With at least 80% of its total assets typically allocated to securities from the index or those with similar economic features, TFI Correlation aims to closely track the index's performance. Additionally, the fund prioritizes investments in federally tax-exempt securities, aiming to allocate at least 80% of its net assets, along with borrowed funds, to such instruments. TFI Correlation may also include non-index debt securities, cash equivalents, or money market instruments in its portfolio. By maintaining a robust correlation with the index, this fund provides investors with a reliable vehicle for accessing the tax-exempt bond market while seeking to deliver consistent performance relative to the benchmark.
TFI Sector, as part of the State Street Global Advisors-advised funds, focuses on sector-specific investments within the tax-exempt bond market, aiming to align closely with the Bloomberg Municipal Managed Money 1-25 Years Index. Managed by Nuveen Asset Management, the fund employs a strategic sampling strategy to replicate the index's risk and return characteristics by investing in a subset of its securities. With a commitment to maintaining a diversified portfolio, TFI Sector seeks to allocate its assets across various sectors represented in the index, ensuring exposure to a broad spectrum of municipal securities. At least 80% of the fund's total assets are typically invested in securities from the index or those with similar economic features, with a particular emphasis on federally tax-exempt investments. TFI Sector may also include non-index debt securities, cash equivalents, or money market instruments in its portfolio to enhance diversification. By focusing on sector-specific opportunities while closely tracking the index, this fund aims to provide investors with targeted exposure to the tax-exempt bond market while managing risk effectively.
TFI Exposure, under the stewardship of State Street Global Advisors and advised funds, is dedicated to providing investors with broad exposure to the tax-exempt bond market, closely tracking the Bloomberg Municipal Managed Money 1-25 Years Index. Managed by Nuveen Asset Management, the fund employs a strategic sampling strategy to replicate the index's risk and return characteristics by investing in a carefully selected subset of its securities. With a focus on maximizing exposure to various segments of the municipal securities market, TFI Exposure aims to allocate its assets across different sectors and issuers represented in the index. At least 80% of the fund's total assets are typically invested in securities from the index or those with similar economic features, with a particular emphasis on federally tax-exempt investments. Additionally, TFI Exposure may include non-index debt securities, cash equivalents, or money market instruments in its portfolio to enhance diversification and capture broader market opportunities. By providing investors with comprehensive exposure to the tax-exempt bond market while closely tracking the index, this fund aims to deliver consistent performance and potential tax advantages.
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ETF Insider is a novel portfolio optimization tool that uses the power of data visualization to gain insight into portfolio compositions, concentration risks, portfolio efficiency and more. Complex financial data can be transformed into visually appealing and easily digestible graphs and charts, allowing investors to quickly identify trends and make well-informed investment decisions. Not only does this save time, but it also increases the accuracy and effectiveness of portfolio management.
