The Rockefeller New York Municipal Bond ETF (RMNY) primarily allocates its capital across a broad spectrum of municipal bonds, irrespective of their duration, aiming to deliver income that is generally free from both federal and New York State income taxes. The fund maintains the flexibility to commit up to a quarter of its portfolio to debt instruments graded as medium investment quality or lower, encompassing higher-yielding, speculative-grade bonds. It may also invest in private activity bonds, where the interest income qualifies as a tax-preference item, requiring shareholders subject to the Alternative Minimum Tax (AMT) to account for these distributions in their computations. Furthermore, RMNY's exposure to inverse floaters, typically stemming from municipal tender option bond financing arrangements, could reach as much as 35%. The fund intends to concentrate a significant portion of its investments in bonds characterized by higher issuance volumes, which may include municipal debt from Puerto Rico that is exempt from New York income taxes. Additionally, it has the option to invest in certain specialized municipal bonds, such as tobacco settlement bonds, occasionally known as "dirt bonds." While its primary focus is on tax-exempt income, a portion of the fund's holdings might generate taxable interest. Operated under active management, the fund's investment strategy considers elements like relative value, prevailing market supply and demand, identified market inefficiencies, and specific, opportunistic situations.

Rockefeller New York Municipal Bond ETF

RMNY broadly invests in municipal bonds of any maturity that are exempt from federal and New York income tax. The fund may invest up to 25% in bonds rated medium investment grade or lower, including high-yield bonds. The fund may invest in private activity bonds whose interest is a tax-preference item. Shareholders subject to AMT must include distributions from private activity bonds in their calculations. The fund may have exposure of up to 35% from inverse floaters through municipal tender option bond financing transactions. The fund intends to invest heavily in bonds with higher issuance volumes, which may include those from Puerto Rico that are exempt from New York income taxes. In addition, the fund may invest in dirt bonds like tobacco settlement bonds. A portion of assets may be invested in securities that pay taxable interest. The actively managed fund may consider relative value, market supply/demand, market dislocations, and siuation-specific opportunities.

RMNY Holdings & Sector Breakdown

RMNY Holdings & Sector Breakdown