This fund tracks an index of municipal bonds, a slice of the bond market that is highly coveted due to its tax features. These bonds are generally free from federal taxes and in some cases, state and local income taxes as well making these funds crucial components of portfolios for those in high tax brackets. Muni bonds are used by local entities to pay for a variety of services or to make improvements to infrastructure paying for everything from new sewer systems to school renovations and bridge construction as such, they are relatively low risk instruments. This particular fund targets munis that mostly mature more than 17 years from now, giving the fund a higher risk profile but also greater current income potential. As a result MLN is a solid choice for investors seeking broad exposure to the muni market but are looking for higher levels of current income and risk, but still in the investment grade segment of the market. The fund still has impressive levels of diversification— holding over 150 securities— and a below average expense ratio, making it a quality choice for a building block of portfolios, especially for those seeking to keep costs down but are unwilling to look at total market funds or those that target the short or intermediate sections of the curve.
| Segment | Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Long-Term |
| Category | Government, Local Authority/Municipal |
| Focus | Investment Grade |
| Niche | Long-Term |
| Strategy | Vanilla |
| Weighting Scheme | Market Value |
This section compares how balanced and deep this ETF is relative to its peers.
| MLN | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Number of Holdings | 1000 | 1066 | 793 |
| % of Assets in Top 10 | 5.21% | 18.52% | 10.34% |
| % of Assets in Top 15 | 7.53% | 23.01% | 13.98% |
| % of Assets in Top 50 | 20.64% | 43.90% | 32.14% |
| MLN | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Large (>12.9B) | N/A | N/A | N/A |
| Mid (>2.7B) | N/A | N/A | N/A |
| Small (>600M) | N/A | N/A | N/A |
| Micro (<600M) | N/A | N/A | N/A |
This section compares the P/E ratio of this ETF to its peers.
This section compares the dividend yield of this ETF to its peers.
| MLN | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Dividend | $ 0.05 | $ 0.08 | $ 0.08 |
| Dividend Date | 2023-11-01 | N/A | N/A |
| Annual Dividend Rate | $ 0.56 | $ 0.87 | $ 0.66 |
| Annual Dividend Yield | 3.16% | 2.62% | 2.50% |
View charts featuring MLN price and volume data.
View charts featuring ETF fund flow data.
5 Day Net Flows: 2.61 M 1 Month Net Flows: 26.57 M 3 Month Net Flows: 10.99 M 6 Month Net Flows: 132.46 M 1 Year Net Flows: 226.89 M 3 Year Net Flows: 249.95 M 5 Year Net Flows: 249.95 M 10 Year Net Flows: 249.95 MView charts that break down the influence that fund flows and price had on overall assets.
5 Day Net AUM Change: 6.84 MThe adjacent table gives investors an individual Realtime Rating for MLN on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the National Munis with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.
This section compares the cost efficiency of this ETF to its peers.
| Max ST Capital Gains Rate | 39.60% |
| Max LT Capital Gains Rate | 20.00% |
| Tax On Distributions | Ordinary income |
| Distributes K1 | No |
MLN does not have an ESG score. There are no ESG themes that map to this ETF.
This section shows how this ETF has performed relative to its peers. Returns over 1 year are annualized.
| MLN |
ETF Database
Category Average |
Factset Segment
Average |
|
|---|---|---|---|
| 1 Month Return | 9.38% | 4.29% | 7.75% |
| 3 Month Return | 3.14% | 1.73% | 2.59% |
| YTD Return | 4.42% | 2.90% | 3.68% |
| 1 Year Return | 3.94% | 3.02% | 3.43% |
| 3 Year Return | -3.84% | -0.96% | -2.23% |
| 5 Year Return | 1.14% | 0.98% | 1.28% |
The following charts reflect the geographic spread of MLN's underlying holdings.
The following charts reflect the allocation of MLN's underlying holdings.
| Asset | Percentage |
|---|---|
| Municipal | 99.12% |
| CASH | 0.6% |
| Other | 0.2% |
| Bond Sector | Percentage |
|---|
| Maturity | Percentage |
|---|---|
| Less Than 1 Year | 0.0% |
| 1-3 Years | 0.0% |
| 3-5 Years | 0.0% |
| 5-7 Years | 0.0% |
| 7-10 Years | 0.0% |
| 10-15 Years | 0.0% |
| 15-20 Years | 0.0% |
| 20-30 Years | 0.0% |
| 30+ Years | 0.0% |
| Asset | Percentage |
|---|---|
| Municipal | 99.12% |
| CASH | 0.6% |
| Other | 0.2% |
This section shows how the volatility of this ETF compares to the peer group ETF Database Category.
| 5 Day Volatility | 76.42% |
| 20 Day Volatility | 9.74% |
| 50 Day Volatility | 12.06% |
| 200 Day Volatility | 9.61% |
| Beta | 0.23 |
| Standard Deviation | 0.41% |
ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.
Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.
The appetite for bonds has definitely reached a fervent pace amid the volatility thanks to the...
The advent of exchange-traded funds (ETFs) has given fixed income investors access to corners of...
Sustainable investing is much more than a new buzz phrase in the investment community. It comes...
ETF Trends and ETF Database , the preeminent digital platforms for ETF news, research, tools, video, webcasts, native content channels, and more. The ETF Trends and ETF Database brands have been trusted amongst advisors, institutional investors, and individual investors for a combined 25 years. The firms are uniquely positioned to aid advisor’s education, adoption, and usage of ETFs, as well as the asset management community’s transition from traditionally analog to digital interactions with the advisor community.
Our team at ETF Database is committed to making our website the premier source of information on ETF investing with the world’s highest quality ETF tools, content, and resources.
ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.
Copyright © 2023 FactSet Research Systems Inc. All rights reserved.
A long-running debate in asset allocation circles is how much of a portfolio an investor should...
In a digital age where information moves in milliseconds and millions of participants can transact...