SPMUHT S&P Municipal Yield Index

The Index measures the performance of high-yield and investment-grade municipal bonds with weights determined by credit rating. All bonds in the index are exempt from U.S. federal income tax, but some are subject to alternative minimum tax (AMT). The bond must have a minimum amount outstanding of US$ 5 million and a minimum term to maturity greater than three years to be eligible for inclusion. Seventy percent (70%) of the market value of the index must be composed of bonds that are either non-rated or that have a rating no higher than BB+ by Standard & Poor’s, Ba1 by Moody’s, or BB+ by Fitch. Twenty percent (20%) of the market value of the index must be composed of bonds that are rated between BBB- and BBB+ , Baa3 and Baa1, or BBB- and BBB+ Standard & Poor’s, Moody’s, or Fitch, respectively. One-tenth (10%) of the market value of the index must be composed of bonds that are rated between A- and A+, A3 and A1, or A- and A+ by Standard & Poor’s, Moody’s or Fitch, respectively.

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As of 08/08/2020


Index Information
Provider:     S&P Dow Jones
Category1:  US Fixed Income
Category2:  Municipal bonds
Category3:  High yield
Country:      USA
Currency:    USD
Inception date:  09/07/2010
Backtesting data exists:   Yes
Weighting methodology:   Market capitalization
Number of holdings:  24,507  (as of 12/19/2018)
Rebalanced:  Monthly
Reconstituted:  Monthly

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