VanEck CEF Municipal Income ETF (XMPT)
BATS BATS Primary 
XMPT: Discounted Muni CEF Exposure Providing Significant Diversification
VanEck CEF Muni Income ETF offers diversified exposure to municipal bonds via closed-end funds, capturing leverage and CEF discounts/premiums. XMPT currently yields nearly 6%, significantly higher than traditional muni ETFs like MUB, but a portion of distributions is return of capital, impacting tax treatment. Underlying CEF discounts have narrowed, boosting XMPT's performance, though discounts remain wider than pre-2023 levels.
XMPT: ETF Fund-Of-Funds Exposure To Muni CEFs
XMPT offers diversified, tax-exempt municipal bond exposure through a passive fund-of-funds CEF approach, which introduces leverage and discount/premium dynamics. The underlying portfolio leverage boosted recent returns, but also meaningful discount narrowing brings us to relatively less attractive valuations, potentially limiting future upside potential. The distribution yield is quite high, but this is a function of an attempt to reduce discounts in the underlying holdings rather than payouts that are being covered entirely.
XMPT: Muni Bond Fund Of Funds, Tax-Advantaged, Competitive Dividend
XMPT is an ETF investing in muni bond CEFs. It focuses on investment-grade bonds, offering investors a tax-advantaged 5.4% SEC yield. XMPT provides higher after-tax income for investors in higher tax brackets.
XMPT: An ETF Of Closed-End Funds With Good Yield
VanEck CEF Municipal Income ETF offers high tax-free yields by investing in closed-end funds focused on U.S. municipal bonds, leveraging unique discount opportunities. The XMPT ETF's 30-Day SEC Yield of 4.85% surpasses many competitors, driven by leverage and discounted CEF purchases, despite a higher expense ratio of 1.98%. The fund provides diversification across various municipal sectors, potential capital appreciation, and risk management, making it appealing for high-tax-bracket investors.
