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    BNY Mellon Municipal Opportunities ETF (BMOP)

    • CUSIP 05613H803
    • NAV  $ 25.15 As of  07/02/26
    • CHG  $ 0.01 (0.04 %)
    • MKT PRICE  $25.16 As of  07/02/26
    • CHG  $0.04 (0.16 %)
    • TOTAL EXPENSE RATIO 
      0.54% 
      Net
      0.54% 
      Gross
    Overview

    Why invest in this Fund?

    • The fund seeks to maximize current income exempt from federal income tax and capital appreciation.
    • To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from U.S. federal income tax.
    • The fund invests at least 50% of its net assets in bonds that are rated investment grade (i.e., Baa3/BBB- or higher) at the time of purchase or, if unrated, deemed of comparable quality by the fund's sub-adviser. For additional yield, the fund may invest up to 50% of its net assets in bonds that are rated below investment grade ("high yield" or "junk" bonds) or, if unrated, deemed of comparable quality by the fund's sub-adviser, Insight North America LLC.
    • The fund may invest in individual municipal and taxable bonds of any maturity or duration and does not expect to target any specific range of maturity or duration.
    • Duration is an indication of an investment's "interest rate risk," or how sensitive a bond or the fund's portfolio may be to changes in interest rates. Generally, the longer a bond's duration, the more likely it is to react to interest rate fluctuations and the greater its long-term risk/return potential.
    • The fund’s liquid ETF structure allows investors to buy or sell any time the market is open.
    LISTING DATE
    01/12/26
    INCEPTION DATE
    10/15/08
    NET ASSETS
    $1,789,988,860  As of  07/06/26
    NUMBER OF SHARES OUTSTANDING
    71,180,124  As of  07/06/26
    MARKET PRICE 52-WEEK HIGH
    $25.23  As of  02/27/26
    MARKET PRICE 52-WEEK LOW
    $24.45  As of  03/24/26
    AVG EFFECTIVE DURATION
    7.74 yr(s). As of  05/31/26
    WEIGHTED AVG YIELD TO MATURITY
    5.98% As of  05/31/26
    WEIGHTED AVG MATURITY
    9.61 yr(s). As of  05/31/26
    DISTRIBUTION FREQUENCY
    Monthly
    Morningstar Category
    Municipal National Intermediate
    Morningstar Overall Rating
    Number of Holdings
    665 As of  05/31/26
    SUB-ASSET CLASS
    Tax-Exempt
    EXCHANGE
    NASDAQ

    Morningstar Rating™ as of May 31, 2026. Overall rating for the Municipal National Intermediate category. Fund ratings are out of 5 Stars: Overall 4 Stars (259 funds rated); 3 Yrs. 4 Stars (259 funds rated); 5 Yrs. 3 Stars (240 funds rated); 10 Yrs. 5 Stars (179 funds rated).

    Yields and Expense Ratio

    30-DAY SEC YIELD
    as of 07/06/26      SUBSIDIZED     		UNSUBSIDIZED CURRENT YIELD
    as of  07/06/26     		CONTRACTUAL
    FEE WAIVER END DATE     		PROSPECTUS FEE TABLE EXPENSE RATIO (%)
    as of  12/31/25     NET     		GROSS
    3.79 3.79 3.92 - 0.54 0.54

    Yield fluctuates and past performance is no guarantee of future results.

    The SEC 30-day Yield is calculated by dividing the net investment income per share earned during the period (calculated in accordance with regulatory guidelines) by the maximum offering price per share on the last day of the period.

    Unsubsidized yield displays what the fund's 30-Day SEC Yield would have been had no fee waiver or expense reimbursement been in place during the period.

    Gross Expenses is the total annual operating expense ratio for the fund, before any fee waivers or expense reimbursements. Net Expenses is the total annual operating expense ratio for the fund, after any applicable fee waivers or expense reimbursements. The Gross Expenses, or Net Expenses (if including fee waivers or expense reimbursements) is the actual fund expense ratio applicable to investors.

     

    NAV - A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding.

    Market Price - The market price is the most recent official closing price for the listed exchange.

    Current Yield - (Sum of 30 days of net investment income/sum of 30 days of net assets) * (365*100)

    Avg Effective Duration - It is used to measure the market price sensitivity of the fund’s portfolio holdings to changes in interest-rates. Duration is not a complete measure of bond risk and may not be successful.

    Weighted Avg Yield to Maturity - The averaged total return anticipated on a group of bonds if held until their maturity.

    Weighted Avg Maturity - A measure of the average maturity of all of the underlying security instruments in the fund, weighted to reflect the relative percentage ownership of each instrument, and taking into account applicable “maturity shortening” provisions.

    Performance

    Daily Statistics

    As of  07/02/26 NAME 30-DAY MEDIAN 
    BID/ASK 
    SPREAD     		PREVIOUS DAY
    VOLUME     		20-DAY AVG 
    VOLUME     		PREMIUM/ 
    DISCOUNT     		YTD
    Total Return
    (NAV)
    BNY Mellon Municipal Opportunities ETF
    		0.20% 49,256 122,054 0.10% 3.06%

    The performance data quoted represents past performance, which is no guarantee of future results.

     

    30-Day Median Bid-Ask Spread - Gives investors the midpoint within the spread between an ETF’s selling price and buying price. It is calculated over the last 30 days in 10 second intervals by dividing the difference between the bid (sell price) and offer (buy price) by the midpoint of the National Best Bid Offer (NBBO) and identifying the median of those values.

    20-Day Avg Volume - 20-Day Average Volume is the sum of last 20 days of trading volume divided by 20 days.

    Premium / Discount - The amount the fund is trading above or below the reported NAV expressed as a percentage of the NAV. When the fund's market price is greater than the fund's NAV, it is said to be trading at a "Premium" and the percentage is expressed as a positive number. When the fund's market price is less than the fund's NAV, it is said to be trading at a "Discount" and the percentage is expressed as a negative number.

    Total Returns

    Click here for NAV Returns 

    Month End

    MARKET PRICE
    Average Annual
    As of 06/30/26
    Name 3 MO
    06/30/26     		YTD
    06/30/26     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Municipal Opportunities ETF
    BMOP
    		3.07 2.98 7.48 4.56 1.20 2.71 5.40
    Bloomberg U.S. Municipal Bond Index
    		- - - - - - -
    S&P Municipal Bond Index
    		- - - - - - -

    Quarter End

    MARKET PRICE
    Average Annual
    As of 06/30/26
    Name 3 MO
    06/30/26     		YTD
    06/30/26     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Municipal Opportunities ETF
    BMOP
    		3.07 2.98 7.48 4.56 1.20 2.71 5.40
    Bloomberg U.S. Municipal Bond Index
    		- - - - - - -
    S&P Municipal Bond Index
    		- - - - - - -

    The performance data quoted represents past performance, which is no guarantee of future results. Share price, yield and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted.

    The performance information shown before January 9, 2026 reflects that of Class M shares of the  BNY Mellon Municipal Opportunities  Fund ("Predecessor Fund"), which had a different fee structure than the fund. The fund's investment strategies are similar to those of the Predecessor Fund; however, while each fund may invest in derivatives as a part of its principal investment strategy, unlike the Predecessor Fund, the fund's investments in derivatives may also include options on futures and interest rate swaps such as MMD Rate Locks.  The performance returns shown are based on the Predecessor Fund's fee structure and investment strategies. Past performance may have been different if the fund's current fee structure and investment strategies had been in place during the period. The NAV and market price performance of the ETF use the predecessor mutual fund's NAV from inception to listing.

    Market Price performance is calculated using the most recent NASDAQ Official Closing Price. Market Price returns do not represent investors’ returns had they traded shares at other times.

    The Bloomberg U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. Investors cannot invest directly in any index.

    The S&P Municipal Bond Index is a broad, market value-weighted index that seeks to measure the performance of the U.S. municipal bond market.

    The Bloomberg U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. 

    The S&P Municipal Bond Index is a market-value-weighted index designed to measure the performance of the U.S. municipal bond market, which includes debt issued by states and local governments. Investors cannot invest directly in any index. 

    The Bloomberg U.S. Municipal Bond Index is the broad-based benchmark for the BNY Mellon Municipal Opportunities ETF. The S&P Municipal Bond Index was the broad-based benchmark for the Predecessor Fund.

    “BLOOMBERG®” and the Bloomberg indices listed herein (the “Indices”) are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the Indices (collectively, “Bloomberg”) and have been licensed for use for certain purposes by the distributor hereof (the “Licensee”). Bloomberg is not affiliated with Licensee, and Bloomberg does not approve, endorse, review, or recommend the financial products named herein (the “Products”). Bloomberg does not guarantee the timeliness, accuracy, or completeness of any data or information relating to the Products.

    Growth of $10,000 Investment

    Past performance is no guarantee of future results.

    Historical NAV and Market Price

      Historical Premium/Discount

      Premium and Discount Summary Table

      As of  07/06/26 Q1 2026 Q2 2026
      Days Traded at Premium
      		15 12
      Days Traded at Discount
      		38 49

      The table shows the number of trading days in which the fund traded at a premium or discount to its closing NAV.  Past results are not indicative of future results.

      Premium/Discount

      Fees & Expenses

      Prospectus Fee Table Expense Ratios

      Fees as stated in the prospectus  Fee Description Total Expense Ratio (%)
      Management Fee 0.50%
      Other Expenses 0.04%
      Total Expenses 0.54%
      Net Expenses 0.54%

      The Total Expenses is the actual fund expense ratio applicable to investors.

      Portfolio

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon ETF Investment Adviser, LLC (BNYETF) and the fund's sub-adviser is Insight North America LLC (INA), an affiliate of BNYETF. Gregory J. Conant and Jeffrey Burger are the primary portfolio managers of the fund, positions they have held since January 2026. Mr. Conant and Mr. Burger are senior portfolio managers at INA. Each portfolio manager is jointly and primarily responsible for the day-to-day management of the fund's portfolio.

      Top Holdings

      Download Total Holdings
      As of 07/07/26
      Holdings % Portfolio Weight
      INTERMOUNTAIN PWR AGY 5 7/1/2042 0.90
      CA CMNTY CHOICE FIN-F 5 11/1/2033 0.79
      AUSTIN TX ARPT SYS RE 5 11/15/2046 0.74
      PUERTO RICO CMWLTH AQ 5 7/1/2030 0.72
      MA BAY TRANS AUTH-A 5 7/1/2038 0.68
      KING CNTY-REF FRN 1/1/2042 0.64
      UNIV OF TEXAS SYS BRD 5 7/1/2041 0.63
      MD HLTH HGR AUTH-B FRN 8/15/2056 0.62
      LA DEPT OF WTR-B-REF 5 7/1/2037 0.62
      WASHINGTON ST-A 5 8/1/2040 0.61
      BLACK BELT-SER-C FRN 5/1/2055 0.59
      TENNERGY CORP -A FRN 10/1/2054 0.59
      MAIN STREET NATURAL-C FRN 12/1/2054 0.59
      IDAHO ST HSG & FIN AS 5 8/15/2043 0.59
      CA CMNTY CHOICE FIN-C FRN 8/1/2055 0.58
      TRIBOROUGH BRIDGE-A-3 5.25 5/15/2064 0.58
      MA SCH BLDG-B-SUB 5.25 2/15/2048 0.57
      BLACK BELT ENERGY GAS FRN 10/1/2052 0.56
      MA SCH BLDG-SUB-A 5.25 2/15/2048 0.54
      HIGH STAR RANCH FING 6.25 12/1/2055 0.51
      LA PUB FACS AUTH-AMT 5.5 9/1/2054 0.50
      PR SALES TAX FING-A1 5 7/1/2058 0.49
      MATCHING FUND SPL-A 5 10/1/2039 0.46
      WA MET AREA TRANSIT-A 3 7/15/2040 0.46
      CHICAGO-A-REV 5.25 1/1/2041 0.44
      TX PRIVATE ACTIVITY 5.5 12/31/2058 0.44
      CHICAGO BOE-B-REF 6.75 12/1/2030 0.43
      NY TRNSPRTN DEV CRP-A 5.25 12/31/2054 0.43
      PR ELEC PWR AUTH-A 6.75 7/1/2036 0.43
      Net Current Assets 0.43
      CALIFORNIA ST MUNI FI 5 5/15/2052 0.42
      MASSACHUSETTS ST 5 11/1/2045 0.42
      BUILD NYC RESOURCE-A 7 12/15/2065 0.41
      OK CTY WTR UTIL TRUST 5 7/1/2054 0.41
      GOLDEN ST TOBACCO-A1 4.214 6/1/2050 0.41
      MA DEV FIN AGY-Q 5.5 12/1/2051 0.41
      ARKANSAS DEV FIN AUTH 5.7 5/1/2053 0.41
      CA CMNTY CHOICE-A-1 FRN 4/1/2056 0.40
      VA PORT AUTH 5 7/1/2043 0.40
      CHICAGO BRD ED-B-REF 6 12/1/2043 0.39
      RI HLTH-PROVIDENCE 5 11/1/2045 0.39
      CAL INFRA & ECO DEV-B FRN 1/1/2065 0.39
      OK CTY WTR UTIL TRUST 5 7/1/2049 0.38
      MET TRANSPRTN AUTH-A 5 11/15/2037 0.37
      VIRGINIA ST CLG BLDG 5.25 2/1/2042 0.37
      SAN FRANCISCO APRT-A 5 5/1/2044 0.37
      CHICAGO 5 11/1/2039 0.36
      FL DEV FIN CORP-A 5 6/15/2050 0.36
      TNDR OPT RSDLS-XL0601 FRN 3/15/2049 0.36
      CA CMNTY CHOICE FING FRN 1/1/2054 0.36
      TRIBOROUGH BRIDGE-A-2 5.25 5/15/2059 0.35
      PUBLIC FIN AUTH WI HO 4 6/1/2045 0.34
      FULTON CNTY GA DEV AU 5 3/15/2044 0.34
      FOOTHILL ESTRN TRANSP 4.094 1/15/2049 0.34
      RI HLTH & EDUCTNL-C 5 5/15/2043 0.34
      NATIONAL FIN AUTH-2 FRN 2/20/2043 0.34
      MET TRANSPRTN-C-1 5 11/15/2050 0.34
      CA MUNI FIN AUTH 5 5/15/2048 0.34
      TX WTR DEV BRD-REV 5 8/1/2044 0.34
      PUB FIN AUTH-AMT 5.75 6/30/2060 0.34
      TREASURY BILL 0 8/13/2026 0.33
      TRIBOROUGH BRIDGE-A 5.25 12/1/2054 0.33
      SOUTHEAST ENERGY AUTH FRN 1/1/2054 0.33
      FORT BEND ISD-A-REF 4.25 8/15/2054 0.32
      DT OF COLUMBIA 5.25 1/1/2048 0.32
      DETROIT COPS-TAXABLE 4.613 6/15/2015 0.32
      NJ EDUCTNL FACS-A FRN 7/1/2064 0.31
      HIGHER EDUCTNL FACS-A 3 12/1/2048 0.32
      CA MUNI AUTH-1-A-1 4.05 7/20/2041 0.31
      MET PIER CAB-A-AG 0 12/15/2040 0.31
      PUB FIN AUTH-AMT 6.5 12/31/2065 0.31
      NY ST TRANS DEV CORP 5 12/1/2041 0.31
      PHILADELPHIA HSG-A 5.25 3/1/2040 0.31
      MA DEV FIN AGY-A 5.25 1/1/2042 0.31
      NJ ECON DEV AUTH-AMT 5.375 1/1/2043 0.31
      ARLINGTON HGR EDU FIN 4 2/15/2049 0.31
      OK TPK AUTH-A 5.5 1/1/2054 0.31
      ILLINOIS ST-B 5 6/15/2039 0.31
      COLLIN CNTY 5 2/15/2040 0.30
      IN FIN AUTH-D-2-REF FRN 10/1/2063 0.30
      CONNECTICUT ST-B 3 6/1/2038 0.30
      OK TPK AUTH-A 5.25 1/1/2050 0.30
      NEW YORK-D 5.25 4/1/2047 0.30
      HOUSTON-A-REF 5.25 3/1/2049 0.30
      NJ ECON DEV AUTH-AMT 5.125 1/1/2034 0.30
      S E ENERGY AUTH-A-1 FRN 1/1/2053 0.30
      IN FIN AUTH-D-1-REF FRN 10/1/2064 0.30
      COOK CO-A-REF 5.25 11/15/2045 0.30
      ILLINOIS ST-D 5 11/1/2028 0.30
      KY PUB ENERGY AUTH-A FRN 6/1/2055 0.30
      MIAMI-DADE CNTY WTR-A 5.25 10/1/2054 0.30
      MAIN ST NAT GAS INC-D FRN 5/1/2054 0.30
      MASSACHUSETTS ST 5 7/1/2045 0.29
      POINT 1 DT#1-A-1 6.125 3/1/2055 0.29
      KY PUB ENERGY-A FRN 5/1/2055 0.29
      CA CMNTY CHOICE FIN-C FRN 12/1/2055 0.29
      PUB FIN AUTH-AMT 5.75 12/31/2065 0.29
      SC JOBS-ECO AUTH-REF 5.25 11/1/2054 0.29
      MASSACHUSETTS ST-A 5 1/1/2041 0.29
      MAIN STREET NATURAL-B FRN 12/1/2052 0.29
      TRIBOROUGH BRIDGE-A-1 5.25 5/15/2064 0.29
      PUERTO RICO CMWLTH AQ 5 7/1/2035 0.29
      UNIV OF CALIFORNIA-AZ 5 5/15/2043 0.29
      PROJECTNEW YORK TRANS 5 10/1/2040 0.29
      TN ENERGY ACQ CORP-A- FRN 5/1/2053 0.29
      CA MUNI FIN AUTH 5 5/15/2040 0.29
      GRAND PKWY TRANSPRTN 5 10/1/2043 0.29
      NEW YORK ST TRANSPRTN 5.5 6/30/2054 0.29
      BUILD NYC RESOURCE-A 7 12/15/2055 0.29
      CA MUNI FIN AUTH 5 5/15/2043 0.29
      CHICAGO BRD ED-C-REF 5.5 12/1/2045 0.29
      TRIBOROUGH BRIDGE 5 11/15/2049 0.28
      AUBURN UNIV GEN FEE 5 6/1/2048 0.28
      NEW YORK ST TRANSPRTN 5.25 6/30/2049 0.28
      MINNEAPOLIS -REV 4 11/15/2038 0.28
      MTA HUDSON RAIL YRD-A 5 11/15/2056 0.28
      NYC TRANSITIONAL-A-1 5.5 5/1/2050 0.28
      CLIFTON HGR EDU-REF 4 8/15/2044 0.28
      MASSACHUSETTS DEV-REF 5.25 7/1/2055 0.27
      ARLINGTON CNTY VA IND 4 7/1/2045 0.27
      CO BRIDGE & TUNNEL-A 5.5 12/1/2054 0.27
      MO HLTH & EDUCTNL-A 4.25 4/1/2055 0.27
      CENTRL PUGET-S-1-REF 3 11/1/2036 0.27
      CALIFORNIA CMNTY HSG 5 8/1/2049 0.26
      GOLDEN ST TOBACCO -B 3.293 6/1/2042 0.26
      CALIFORNIA ST HLTH FA 4 5/15/2046 0.26
      SIERRA CLG #2-B-WESTE 0 8/1/2031 0.26
      FOOTHILL E TRANSP-B1 3.95 1/15/2053 0.26
      GRAND PKWY TRANSPRTN 4 10/1/2049 0.26
      OHIO ST 3 5/1/2039 0.25
      MA DEV FIN AGY-A 5.5 7/1/2066 0.25
      MIDA MOUNTAIN VLG-2 6 6/15/2054 0.25
      ST JAMES PSH-REV-REMK 6.35 7/1/2040 0.25
      CLIFTON HGR EDU 5 8/15/2047 0.25
      MET WASHINGTON DC-B 4 10/1/2053 0.25
      MARICOPA CNTY AZ PO 2.4 6/1/2035 0.25
      OHIO ST-REV-REF 4 10/1/2042 0.25
      MIDA CORMONT PUB-A-2 STEP-CPN 6/1/2055 0.25
      CALIFORNIA ST 5.25 10/1/2045 0.25
      IA ST FIN AUTH 5 8/1/2042 0.24
      ARKANSAS UNIV BRD-A 5 11/1/2054 0.24
      HOUSTON-A-REF 5 3/1/2042 0.24
      JEFFERSON PSH ECON-A 5.625 6/15/2048 0.24
      NV DEPT OF BUS SER B FRN 1/1/2065 0.24
      PR SALES TAX FING-A1 4.5 7/1/2034 0.24
      MET WA DC ARPTS-CABS 0 10/1/2036 0.24
      PUB FIN AUTH 4.25 7/1/2054 0.24
      NY TRANSPRTN DEV CORP 6 6/30/2059 0.24
      NY ST TRANS DEV CORP 5 12/1/2039 0.24
      OHIO ST-REV-REF 4 10/1/2047 0.23
      CVI-CW/PRIFA RUM FRN 11/1/2051 0.23
      NTHRN IN COMMUTER-REV 5 1/1/2054 0.23
      PUBLIC FIN AUTH-A 5.5 7/1/2044 0.23
      SIERRA VISTA INDL DEV 6.5 6/15/2055 0.23
      MA DEV FIN AGY-A 5.375 7/1/2061 0.23
      NYC INDL DEV AGY-A 3 1/1/2046 0.23
      MS BUS-VAR-E-CHEVRON FRN 12/1/2030 0.22
      NY TOBACCO-A-2B-REF 5 6/1/2045 0.22
      NYC INDL DEV AGY-A 3 1/1/2039 0.22
      PUB FIN AUTH-AMT 6.5 6/30/2060 0.22
      CO SCH MINES BRD-A 5 12/1/2054 0.22
      WI CENTER DIST-A-CABS 0 12/15/2044 0.21
      DALLAS & FORT WORTH-B 5 11/1/2047 0.21
      WOLF CREEK INFRA DT#1 5.75 12/1/2044 0.21
      SEMINOLE CO-REV-REF 5 10/1/2052 0.21
      NEW YORK ST LIBERTY 2.8 9/15/2069 0.21
      MAIN STREET NATURAL-A FRN 6/1/2055 0.21
      NY DORM AUTH-A-UNREFD 5.25 3/15/2052 0.21
      TX WTR DEV BRD -REV 5 10/15/2057 0.21
      ONEIDA CO NY LOCAL DE 4 12/1/2049 0.20
      HARRIS CNTY TX CULTUR 3 10/1/2051 0.20
      GRANT UHSD-CABS ELEC 0 2/1/2033 0.20
      BUILD NYC RESOURCE-A 6.5 12/15/2045 0.20
      LBJ INFRASTRUCTURE GROUP 3.797 12/31/2057 0.20
      ARLINGTON HGR EDU 4.5 8/15/2050 0.19
      FL LOCAL GOVT FIN-A 5.5 6/15/2040 0.19
      FOREST LAKE MN CHARTE 5 7/1/2056 0.19
      PUB FIN AUTH-PIEDMONT 5 6/15/2049 0.19
      CA PUB FIN AUTH -A 4 7/15/2051 0.19
      IL FIN AUTH-B-REF 5.25 4/1/2038 0.19
      CALIFORNIA ST MUNI FI 5 5/15/2039 0.19
      PHILADELPHIA HSG-A 5.25 3/1/2038 0.19
      CA CMNTY HSG AGY-A 4 2/1/2056 0.18
      SIERRA VISTA INDL DEV 5 6/15/2054 0.18
      HOUSTON-A-REF 5 3/1/2040 0.18
      NYC TRANS FIN-SUB-I 5 11/1/2045 0.18
      AZ INDL DEV EDU-B 5.75 7/1/2053 0.18
      TEMPLE ISD 5 2/1/2044 0.18
      NYC TRANSITIONAL-A-1 5.25 5/1/2048 0.18
      DT OF COLUMBIA-A-REV 5 7/1/2042 0.18
      GREATER ORLANDO 5.5 11/1/2037 0.18
      NTHRN IN COMMUTER-REV 5.25 1/1/2049 0.18
      JEFFERSON PSH ECON-A 5.5 6/15/2038 0.18
      VA SMALL BUSINESS FIN 4 1/1/2048 0.18
      MET SAINT LOUIS SWR 5.25 5/1/2052 0.18
      MATCHING FUND SPL-A 5 10/1/2030 0.18
      NY ST TRANS DEV CORP 5 12/1/2042 0.17
      FOWLER CO UNIF SD-B 5 8/1/2050 0.17
      CHICAGO O'HARE ARPT-A 5 1/1/2037 0.17
      LOWER NECHES VLY-REF FRN 5/1/2046 0.17
      FAYETTE CO DEV AUTH 5.25 10/1/2049 0.17
      DALLAS ISD-B-REF 4.5 2/15/2045 0.17
      FAYETTE CO DEV AUTH 5.25 10/1/2054 0.17
      HOUSTON-C-REV-REF 5.25 9/1/2051 0.17
      CALIFORNIA ST EDUCTNL 5 10/1/2048 0.17
      AR DEV FIN AUTH-B-AMT FRN 9/1/2046 0.17
      CALIFORNIA CMNTY CHOI FRN 2/1/2052 0.17
      CA ST MUNI FIN-AMT 4 7/15/2029 0.17
      IL FIN AUTH-A-REF 5 5/15/2037 0.17
      MA DEV FIN AGY-REF 5 10/1/2047 0.17
      CO EDUCTNL & CULT FAC 5.8 4/1/2054 0.17
      CA ST CMNTY DEV AUTH 5.25 12/1/2044 0.17
      OHIO-AMT-PORTSMOUTH 5 12/31/2035 0.17
      MET SAINT LOUIS SWR 5 5/1/2047 0.17
      NY ST TRANS DEV CORP 5 12/1/2038 0.17
      GEO L SMITH II GA CON 5 1/1/2054 0.17
      ARIZONA IDA-B 4 7/1/2061 0.16
      VA SMALL BUS FIN-A 4 1/1/2045 0.16
      ARKANSAS UNIV BRD-A 5 11/1/2049 0.16
      FL LOCAL GOVT FIN-A 6 6/15/2045 0.16
      GOLDEN ST TOBACCO -B 2.746 6/1/2034 0.16
      CMFA FIN AGY-A-2 4 8/1/2047 0.16
      MISSION ECON DEV-AMT 4.625 10/1/2031 0.16
      N DAKOTA ST HSG FIN 4.5 7/1/2043 0.16
      AZ IND DEV AUTH-A 5 11/1/2054 0.16
      CO UNIV REGENTS-A 5 6/1/2050 0.16
      AR DEV FIN AUTH-AMT-A 7 7/1/2048 0.16
      CA CMNTY CLG AUTH 5.25 5/1/2048 0.16
      MIDA MOUNTAIN VLG-1 5.75 6/1/2060 0.15
      CA ST MUNI FIN AUTH 5 6/1/2050 0.15
      CAPITAL TRUST AUTH-A 5 6/1/2054 0.15
      CALIFORNIA SCH FIN- A 5 8/1/2048 0.15
      MIAMI-DADE CO EDU FAC 5 4/1/2044 0.15
      SIERRA CLG #2-B-WESTE 0 8/1/2030 0.15
      CA CMNTY CHOICE FIN-H FRN 1/1/2056 0.15
      JPM-DRIVERS-XL0356 FRN 2/1/2042 0.15
      CALIFORNIA ST MUNI FI 5 5/15/2037 0.15
      NY TRANSPRTN DEV CORP 6 6/30/2055 0.15
      SOUTHERN CA PUB PWR-A 5 11/1/2033 0.15
      PEFA INC-A-REF-REV 5 4/1/2035 0.15
      NEW JERSEY ECON DEV 6.375 1/1/2035 0.15
      ILLINOIS ST 5.5 5/1/2039 0.15
      ILLINOIS ST 5.5 5/1/2030 0.15
      PUB FIN AUTH-A 5 5/1/2060 0.15
      CENTENNIAL WTR & SANT 5 12/1/2053 0.15
      ILLINOIS ST-B 5.25 5/1/2048 0.15
      BUILD NYC RESOURCE 5.5 7/1/2055 0.15
      LOS ANGELES DEPT-C 5 7/1/2054 0.14
      AZ IND DEV AUTH-A 5 11/1/2049 0.14
      CHICAGO BOE-A 5.875 12/1/2047 0.14
      ARKANSAS DEV FIN AUTH 5.45 9/1/2052 0.14
      ILLINOIS ST-A 5 3/1/2046 0.14
      NATIONAL FIN AUTH-A 5.25 7/1/2048 0.14
      VA SMALL BUS FIN-A 4 1/1/2036 0.14
      ILLINOIS ST -A 5 5/1/2042 0.14
      MAINE ST HSG AUTH MTG 4.7 11/15/2053 0.14
      ALBANY CAP RESOURCE C 5 6/1/2064 0.14
      AZ IDA SR LIVING-B 5.125 1/1/2059 0.14
      VA SMALL BUS FIN-A 4 1/1/2051 0.14
      CA EDUCTNL FACS-A 5 4/1/2047 0.14
      COLLIER CO HLTH FACS 5 5/1/2045 0.14
      JPM-DRIVERS-XL0357 FRN 5/15/2047 0.14
      FLORIDA ST HGR EDUCTN 4.125 12/1/2054 0.14
      PUB FIN AUTH-A 5 2/1/2062 0.14
      CLEVELAND ETC PORT 5.25 12/1/2038 0.14
      GDB DEBT RECOVERY AUT 7.5 8/20/2040 0.14
      INDIANA FIN AUTH 4 2/1/2044 0.14
      MIDA CORMONT PUB-A-1 6.25 6/1/2055 0.13
      MIAMI-DADE CO-A-1-REV 4 10/1/2045 0.13
      PUB FIN AUTH-REF 5.25 11/15/2061 0.13
      CALIFORNIA ST MUNI FI 5 5/15/2034 0.13
      MONROE CO INDL DEV CO 5 7/1/2044 0.13
      NEW YORK CITY INDL 3 3/1/2036 0.13
      IDAHO ST HLTH FACS AU 4 3/1/2051 0.13
      PUB FIN AUTH-REF 5 9/1/2039 0.13
      MARICOPA CNTY AZ INDL 3 1/1/2049 0.13
      INDIANA FIN AUTH-A 5 6/1/2053 0.13
      SAN DIEGO CNTY CA-B 4 7/1/2051 0.13
      PA TPK COMM-A-REF 3 12/1/2051 0.13
      RESORT CORE PUB DT#1 8.25 3/15/2057 0.13
      MATCHING FUND SPL-A 5 10/1/2032 0.12
      CVI-SUBSER CW NT FRN 11/1/2043 0.12
      NJ TRANSPRTN TRUST-CC 5 6/15/2042 0.12
      ILLINOIS ST-B 5 5/1/2038 0.12
      LOMPOC UNIF SD-A 5.25 8/1/2054 0.12
      COLUMBIA-BRAZORIA ISD 5 2/1/2044 0.12
      NY CITY TRANS FIN-F-1 5 2/1/2046 0.12
      MIAMI-DADE CO EDU FAC 5 4/1/2045 0.12
      HOUSTON TX ARPT SYS R 4 7/15/2041 0.12
      HILLSBOROUGH CNTY FL 4 8/1/2045 0.12
      CALIFORNIA CMNTY HSG 3 8/1/2056 0.12
      NEW JERSEY ECON DEV 6.625 1/1/2045 0.12
      ILLINOIS ST-B 5.25 5/1/2045 0.12
      DENVER URBAN RENWL-A 5.25 12/1/2039 0.05
      RESTRUCTURED-SER A-2 4.329 7/1/2040 0.12
      MA BAY TRANS AUTH-A-2 5 7/1/2052 0.12
      ILLINOIS ST-B 5.25 5/1/2049 0.12
      WA ST HSG FIN COMM-2N 4.8 12/1/2043 0.11
      RESORT CORE PUB DT#1 5.875 3/1/2057 0.11
      FAIRFAX CNTY SWR REV 5 7/15/2054 0.11
      GUAM GOVT WTRWKS AUTH 5 1/1/2050 0.11
      CHESAPEAKE-B-CONV CAB 4.875 7/15/2040 0.11
      MTEMS 2023-08FN PT 4.8 7/1/2045 0.11
      LANCASTER CO HOSP AUT 5 11/1/2046 0.11
      CALIFORNIA ST MUNI FI 5 5/15/2043 0.11
      CAPITAL TRUST AUTH-A 5 6/1/2039 0.11
      MA DEV FIN-K1 5 10/1/2036 0.11
      MIAMI-DADE CNTY FL HL 5 8/1/2042 0.11
      CA EDUCTNL FACS-A 5 4/1/2042 0.11
      AZ INDL DEV EDU-B 5.625 7/1/2048 0.11
      CA STATEWIDE CMNTY 5 5/15/2040 0.11
      OHIO-AMT-PORTSMOUTH 5 12/31/2039 0.11
      PR SALES TAX FING-A1 0 7/1/2046 0.11
      MI FIN AUTH -A -REF-C 4 6/1/2040 0.11
      MA DEV FIN AGY 5 10/1/2046 0.11
      CO EDUCTNL & CULT FAC 5.75 4/1/2059 0.11
      MILITARY INSTALLATION 4 6/1/2041 0.11
      CA STWD DEV AUTH-A 6.125 9/2/2048 0.11
      NEW YORK TRANSPRTN-A 4 12/1/2039 0.11
      SIERRA VISTA INDL DEV 5 6/15/2064 0.11
      CA MUNI FIN AUTH-A 5 7/1/2052 0.11
      MILITARY INSTALLATION 4 6/1/2052 0.10
      AZ INDL DEV AUTH -A 4 6/1/2044 0.11
      SAN DIEGO CNTY CA-B 4 7/1/2046 0.11
      IDAHO ST HLTH FACS AU 4 3/1/2046 0.11
      HOUSTON-B-AMT-REV 5.5 7/15/2039 0.11
      HALIFAX HOSP MED CTR 4.25 6/1/2054 0.10
      CLIFTON HGR EDU-REF 4 8/15/2049 0.10
      MUNI ELEC AUTH OF GA 4 1/1/2049 0.10
      HOUSTON-AMT-REV 5.5 7/15/2036 0.10
      VI PUB FIN AUTH-A 5 10/1/2029 0.10
      CLIFTON HGR EDU-A 5.25 2/15/2049 0.10
      NY LIBERTY DEV CORP-A 3 11/15/2051 0.10
      CA ST SCH FIN AUTH-A 4 8/1/2061 0.10
      MONROE CO INDL DEV CO 5 7/1/2054 0.10
      MET PIER & EXPOSITION 4 12/15/2047 0.10
      CA ST HLTH FACS AUTH 4.353 6/1/2041 0.10
      CO SPRINGS SD#11-COPS 5.25 12/15/2048 0.10
      ARLINGTON TX HGR EDU 5 8/15/2048 0.10
      DANBURY HGR EDU AUTH 5 8/15/2039 0.10
      AZ INDL DEV AUTH-A 4 11/1/2049 0.10
      PORT AUTH OF NEW YORK 5 10/15/2030 0.10
      LANCASTER CO HOSP AUT 5 11/1/2041 0.10
      MA H/E VAR-MUSEUM-A1 FRN 12/1/2037 0.10
      PUB FIN AUTH-REF 5.25 11/15/2055 0.10
      CO BRD GOVS-C-PREREFD 5 3/1/2043 0.10
      BUILD NYC RESOURCE CO 5.25 7/1/2057 0.10
      MIDA MOUNTAIN VLG-1 5.5 6/1/2050 0.10
      BEXAR HLTH FACS-REF 5 7/15/2041 0.10
      PUB FIN AUTH-REF 5.25 6/15/2045 0.10
      DETROIT 5 4/1/2035 0.10
      CA MUNI FIN AUTH-A 5.5 9/1/2056 0.09
      DANBURY HGR EDU AUTH 4 8/15/2049 0.09
      TULSA MUNI ARPT TRUST 6.25 12/1/2040 0.09
      FL DEV FIN CORP-A 5 6/15/2040 0.09
      KY ECON DEV-A-REF 5 12/1/2047 0.09
      AZ INDL DEV AUTH-A 5 11/1/2044 0.09
      MONTGOMERY CNTY PA HG 4 9/1/2044 0.09
      MS DEV BANK-WTR/SWR 6.875 12/1/2040 0.09
      INDIANA FIN AUTH-A 5.125 6/1/2058 0.09
      MA DEV FIN AGY-REF 5 10/1/2057 0.09
      AZ IDA SR LIVING-A2 5.125 1/1/2059 0.09
      GUAM INTERNATIONAL AR 5.25 10/1/2031 0.09
      CLEVELAND ETC PORT 5.5 12/1/2043 0.09
      NY ST TWY AUTH-P-REV 5.25 1/1/2054 0.09
      OHIO ST-E-REV-REF 4 1/15/2038 0.09
      MIDA MOUNTAIN VLG-2 STEP-CPN 6/1/2043 0.09
      NYC INDL DEV AGY-A 3 1/1/2040 0.09
      LEHIGH CO AUTH-REF 5.25 2/1/2054 0.09
      PALM BEACH CO-REV-A 5.75 10/1/2055 0.09
      NYC TRANSITIONAL-S-1A 3 7/15/2039 0.09
      WI CENTER DIST-A-CABS 0 12/15/2046 0.09
      ARIZONA ST IDA-A 5 7/15/2049 0.09
      MIDA MOUNTAIN VLG PUB 4 8/1/2050 0.09
      COLORADO ST HLTH FACS 5.25 11/1/2052 0.09
      MISSION ECON CORP-REV FRN 12/1/2064 0.09
      CA INFRASTRUCTURE-B 5 11/1/2049 0.09
      CALIFORNIA STWD CMNTY 5.25 12/1/2038 0.09
      CA INFRASTRUCTURE-B 5 11/1/2054 0.09
      MONROE CO INDL DEV-A 4.72 1/1/2044 0.09
      WASHINGTON ST HLTH CA 5 9/1/2050 0.09
      MIDA MOUNTAIN VLG-1 5.5 6/1/2055 0.09
      WEST VIRGINIA ST HOSP 5 9/1/2038 0.09
      PR ELEC-REF-DDD 5 7/1/2022 0.09
      BUILD NYC RESOURCE CO 5.25 7/1/2052 0.09
      MAIN STREET NATURAL-A 5 5/15/2043 0.09
      MA DEV FIN AGY-LINDEN 5.125 11/15/2046 0.09
      AR DEV FIN AUTH 5 2/1/2035 0.08
      CA MUNI FIN AUTH-A 5 7/1/2040 0.08
      CHICAGO IL BRD OF EDU 6 4/1/2046 0.08
      CLEVELAND ETC PORT 5.5 12/1/2053 0.08
      CAPITAL TRUST AUTH-A 5 6/1/2044 0.08
      CA MUNI FIN AUTH-A 5 10/1/2057 0.08
      MI FIN AUTH -A -REF-C 4 6/1/2038 0.08
      CALIFORNIA STWD CMNTY 5 4/1/2047 0.08
      ATLANTA GA DEV AUTH 5.25 7/1/2044 0.08
      MA ST DEV FIN AGY-REF 5 4/15/2040 0.08
      VI PUB FIN AUTH-A 5 10/1/2034 0.08
      GUAM GOVT-A-REF 5 12/1/2046 0.08
      CALIFORNIA STWD CMNTY 4 4/1/2042 0.08
      PR SALES TAX FING-A1 4.75 7/1/2053 0.08
      IL FIN AUTH 5.25 4/1/2043 0.08
      GEISINGER PA AUTH HLT 4 4/1/2039 0.08
      WEST VIRGINIA ST HOSP 5 9/1/2039 0.08
      TEXAS ST PRIV ACTIVIT 4 6/30/2039 0.08
      LOWER CO RIVER AUTH 5 5/15/2042 0.08
      OHIO ST-E-REV-REF 5 1/15/2036 0.08
      ARIZONA IDA-B 4 7/1/2051 0.08
      CA MUNI FIN AUTH-A 5 10/1/2049 0.08
      MONTGOMERY CNTY OH 3 8/1/2040 0.08
      FOOTHILL ESTRN TRANSP 2.962 1/15/2046 0.08
      SPARTANBURG REGL HLTH 4 4/15/2036 0.08
      MET ATLANTA-B-REV 5 7/1/2044 0.08
      SC PUB SVC-A-UNREFUND 5 12/1/2036 0.08
      LANCASTER CO HOSP AUT 5 11/1/2040 0.08
      MIDA MOUNTAIN VETERAN 5 6/1/2044 0.07
      ARIZONA ST IDA-A 5 7/15/2039 0.07
      GUAM INTERNATIONAL AR 5.375 10/1/2043 0.07
      ARLINGTON HGR EDU FIN 5 12/1/2036 0.07
      ARIZONA INDL DEV AUTH 3 2/1/2045 0.07
      SIERRA VISTA INDL DEV 5 6/15/2059 0.07
      MS BUS-VAR-A-CHEVRON FRN 12/1/2030 0.07
      CENTRL TX REGL MOBILI 5 1/1/2045 0.07
      ATLANTA DEV AUTH-A-1 5 4/1/2034 0.07
      CHICAGO BRD OF EDU 5 4/1/2042 0.07
      CA CMNTY CLG AUTH 5.25 5/1/2043 0.07
      S JERSEY PORT-B-AMT 5 1/1/2042 0.07
      ONEIDA INDIAN NATION 6 9/1/2043 0.07
      TEXAS ST-B-VAR-REMK FRN 12/1/2043 0.07
      AZ INDL DEV EDU-B 5.5 7/1/2038 0.07
      PUB FIN AUTH-REF 5.5 6/15/2055 0.07
      OROVILLE CA REVENUE 5.25 4/1/2039 0.07
      CHICAGO 5 11/1/2038 0.07
      DIST OF COLUMBIA REV 4 7/1/2039 0.07
      DETROIT 5 4/1/2036 0.07
      CHICAGO-A 5.5 1/1/2049 0.07
      CAPITAL TRUST AGY 5 12/15/2040 0.07
      CA MUNI FIN AUTH-A 5.25 11/1/2041 0.07
      DIST OF COLUMBIA REV 4 7/1/2049 0.07
      FL ST DEV FIN CORP 5 6/1/2051 0.07
      BUILD NYC RES CORP-A 5 12/1/2041 0.07
      DETROIT 5 4/1/2033 0.07
      PR SALES TAX FING-A1 0 7/1/2051 0.07
      CHICAGO BOE-A-REF 5 12/1/2026 0.07
      CHICAGO-A-REV 5 11/1/2046 0.07
      NJ TRANSPR TRUST 5.5 6/15/2050 0.07
      DIST OF COLUMBIA REV 4 7/1/2044 0.06
      LANCASTER CO HOSP AUT 5 11/1/2039 0.06
      LANCASTER CO HOSP AUT 5 11/1/2038 0.06
      PUBLIC FIN AUTH-A1 6.375 1/1/2048 0.06
      BUILD NYC RESOURCE-A 5 6/15/2051 0.06
      AR DEV FIN AUTH 5 2/1/2033 0.06
      IL FIN AUTH-B-REF 5.25 4/1/2039 0.06
      INDIANA FIN AUTH -A - 6.75 5/1/2039 0.06
      ARLINGTON HGR EDU FIN 5 6/15/2064 0.06
      CA MUNI FIN-A 5 7/1/2038 0.06
      MET ATLANTA-B-REV 5 7/1/2042 0.06
      IL FIN AUTH-A-REF 5.25 4/1/2042 0.06
      GUAM INTERNATIONAL AR 5.375 10/1/2033 0.06
      OHIO ST-E-REV-REF 4 1/15/2040 0.06
      MA DEV FIN AGY-REF 4 7/1/2045 0.06
      NJ TRANSPRTN TRUST-CC 5 6/15/2043 0.06
      CAPITAL TRUST AGY 5 12/15/2035 0.06
      FOWLER CO UNIF SD-B 3.375 8/1/2045 0.06
      GUAM PWR AUTH-A-REF 5 10/1/2033 0.06
      ILLINOIS ST-B 5 5/1/2039 0.06
      TX PUB FIN AUTH-REV 5.25 5/1/2041 0.06
      ILLINOIS ST-B 5.25 5/1/2044 0.06
      NEW YORK ST DORM AUTH 5.5 10/1/2054 0.06
      LOWER CO RIVER AUTH 5 5/15/2044 0.06
      WA HSG FIN CO-REV-REF 6.125 7/1/2053 0.06
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      MORONGO BAND OF MISSN 5 10/1/2042 0.06
      POINT 1 DT#1-A-1 5.875 3/1/2045 0.06
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      ILLINOIS ST-B 5.25 5/1/2047 0.06
      JEFFERSON CO-REF 5.25 10/1/2049 0.06
      VAIL HOME PARTNERS CO 5.875 10/1/2055 0.06
      IL FIN AUTH -REV 5 6/1/2047 0.06
      LOS ANGELES -C-REF 5 7/1/2052 0.06
      LOS ANGELES -C-REF 5 7/1/2055 0.06
      NEW YORK NY 3 3/1/2041 0.06
      MIDA MOUNTAIN VLG-2 5.5 6/15/2039 0.06
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      DOWNTOWN DAYBREAK#1 5.625 3/1/2046 0.06
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      DETROIT 5 4/1/2034 0.06
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      REGL CO TRANS DT-A 4 7/15/2033 0.06
      TRANSBAY JT PWRS-A 5 10/1/2040 0.06
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      HOUSTON-C-REF-AMT 5 7/15/2027 0.06
      TRANSBAY JT PWRS-A 5 10/1/2045 0.06
      CALIFORNIA SCH FIN- A 5 8/1/2038 0.06
      MA DEV FIN AGY-REF 5 10/1/2037 0.06
      MIDA MOUNTAIN VLG-1 5.125 6/15/2054 0.06
      REGL CO TRANS DT-A 4 7/15/2035 0.06
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      MA DEV FIN AGY-C 6.125 7/1/2066 0.06
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      MS BUS-VAR-B-CHEVRON FRN 12/1/2030 0.06
      NTHRN CA TOBACCO-A 4 6/1/2039 0.06
      NYC MUNI WTR-BB FRN 6/15/2051 0.06
      PALOMAR HLTH-REF 5 11/1/2039 0.06
      CHICAGO IL BRD OF EDU 5 12/1/2041 0.06
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      IL FIN AUTH-A-REF 5.25 4/1/2043 0.06
      ARLINGTON HGR EDU FIN 4.875 6/15/2054 0.05
      NY TRANSPRTN DEV CORP 3 8/1/2031 0.05
      PUB FIN AUTH-PIEDMONT 5 6/15/2053 0.05
      BUILD NYC RESOURCE-A 5 6/1/2047 0.05
      ALBANY CAP RESOURCE C 4.75 6/1/2054 0.05
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      DETROIT 5 4/1/2028 0.05
      RESTRUCTURED-SER A1 5.75 7/1/2031 0.05
      RESTRUCTURED-SER A1 5.625 7/1/2029 0.05
      TRANSBAY JT PWRS-A 5 10/1/2039 0.05
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      GA MUNI ELEC AUTH-A 4 1/1/2051 0.05
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      MIDA MOUNTAIN VLG-1 5.25 6/1/2045 0.05
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      GUAM INTERNATIONAL AR 5 10/1/2028 0.05
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      TOBACCO SETTLEMENT-A2 4 6/1/2040 0.05
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      CA SCH FIN AUTH-A 5 7/1/2047 0.05
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      ARLINGTON HGR EDU FIN 4.75 6/15/2049 0.05
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      RESTRUCTURED-SER A1 4 7/1/2041 0.05
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      IL FIN AUTH-A-REF 5.25 4/1/2044 0.05
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      RESTRUCTURED-SER A1 4 7/1/2046 0.05
      NTHRN CA TOBACCO-A 4 6/1/2038 0.04
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      LOS ANGELES -C-REF 5 7/1/2049 0.04
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      LOWELL COLLEGIATE 5 6/15/2054 0.04
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      WARM SPRINGS-B-REF 5 11/1/2036 0.04
      LOUISIANA ST PUB FACS 3 6/1/2050 0.04
      WARM SPRINGS-B-REF 5 11/1/2039 0.04
      DETROIT 5 4/1/2030 0.04
      MET TRANS-C2-UNREFUND 5.175 11/15/2049 0.04
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      UT ST CHRT SCH FIN-A 5 4/15/2044 0.04
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      CHICAGO BRD OF EDU-B 5 12/1/2033 0.03
      CA ST MUNI FIN AUTH 5 6/1/2035 0.03
      CA SCH FIN AUTH-A 5 7/1/2037 0.03
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      OREGON ST-A-REF 5.25 5/1/2042 0.03
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      BUILD NYC RES CORP -A 4 6/15/2051 0.03
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      LATROBE INDL DEV AUTH 4 3/1/2051 0.03
      IL FIN AUTH-A-REF 5.25 4/1/2041 0.03
      ARLINGTON HGR EDU FIN 4 8/15/2041 0.03
      A.B WON PAT AUTH-A 5 10/1/2032 0.03
      CA MUNI FIN AUTH-A 5.25 9/1/2055 0.03
      FL DEV FIN IMAGINE 5 12/15/2034 0.03
      DAYTON-MONTGOMERY-REV 5 12/1/2044 0.03
      FL DEV FIN IMAGINE 5 12/15/2039 0.03
      MI TOB SETTLMT-CABS-C 0 6/1/2058 0.03
      NTHRN CA TOBACCO-A 4 6/1/2037 0.03
      BUILD NYC RESOURCE-A 5 6/1/2032 0.03
      TAMPA -A -REV -CABS 0 9/1/2041 0.03
      BUILD NYC RES CORP -A 4 6/15/2041 0.03
      MASSACHUSETTS ST DEV 4 10/1/2045 0.03
      CA ST SCH FIN AUTH-A 4 8/1/2041 0.03
      TAMPA -A -REV -CABS 0 9/1/2042 0.03
      VERNON-A-REF -REV 5 8/1/2039 0.03
      RESTRUCTURED-SER A1 5.625 7/1/2027 0.03
      VERNON-A-REF -REV 5 8/1/2041 0.03
      PR SALES TAX FING-A1 0 7/1/2033 0.02
      ARIZONA INDL DEV AUTH 4 12/15/2041 0.02
      INDIANA FIN AUTH-A 5 6/1/2033 0.02
      FL DEV FIN IMAGINE 4 12/15/2029 0.02
      PR SALES TAX FING-A1 0 7/1/2031 0.02
      NEW YORK TRANSPRTN-A 5 12/1/2035 0.02
      ARIZONA ST INDL DEV A 5 12/15/2039 0.02
      ALBANY CAP RESOURCE C 4.5 6/1/2044 0.02
      VERNON-A-REF -REV 5 8/1/2040 0.02
      DEKALB CO DEV AUTH -A 5 6/1/2055 0.02
      PENNSYLVANIA ST ECON 6.5 12/1/2038 0.02
      PR SALES TAX FING-A1 0 7/1/2029 0.02
      BUILD NYC RES CORP -A 4 6/15/2056 0.02
      INDIANA FIN AUTH-A 5 6/1/2032 0.02
      TX PUB FIN AUTH-REV 5.25 5/1/2039 0.02
      ARLINGTON HGR EDU FIN 4 8/15/2036 0.02
      OR COAST COMNTY-CONV 5 6/15/2043 0.02
      DEKALB CO DEV AUTH -A 5 6/1/2050 0.02
      CA ST SCH FIN AUTH-A 4 8/1/2036 0.02
      GUAM INTERNATIONAL AR 5.25 10/1/2035 0.02
      CA SCH FIN-REV-REF 5 7/1/2039 0.01
      DEKALB CO DEV AUTH -A 5 6/1/2040 0.01
      LA PUB FAC-A-PREREFD 4 4/1/2050 0.01
      CALIFORNIA PUBLIC FIN 5 11/15/2051 0.01
      BUILD NYC RESOURCE-A 2.5 6/15/2031 0.01
      OR COAST COMNTY-CONV 5 6/15/2042 0.01
      NY TRANSPRTN DEV CORP 2.25 8/1/2026 0.01
      PR SALES TAX FING-A1 4.55 7/1/2040 0.01
      CVI-HTA 98 SR CLAIM FRN 11/1/2051 0.01
      MARLAND ECON DEV CORP 5 6/1/2044 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2037 0.01
      CAPITAL TRUST AGY-A1 5 7/1/2048 0.01
      A.B WON PAT AUTH-B 5 10/1/2041 0.01
      NTHRN CA TOBACCO-A 4 6/1/2040 0.01
      PR SALES TAX FING-A1 0 7/1/2027 0.01
      N CALIF GAS-LIBOR FRN 7/1/2027 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2035 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2038 0.01
      A.B WON PAT AUTH-A 5 10/1/2034 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2039 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2040 0.01
      A.B WON PAT AUTH-B 5 10/1/2040 0.01
      A.B WON PAT AUTH-A 5.25 10/1/2041 0.01
      A.B WON PAT AUTH-B 5 10/1/2042 0.01
      A.B WON PAT AUTH-B 5 10/1/2043 0.01
      MA CMWLTH -E-TXBL-REF 1.77 11/1/2032 0.00
      RESTRUCTURED-SER A-2 4.536 7/1/2053 0.00
      CA CMNTY HSG AGY-A 5 2/1/2050 0.00
      CAPITAL TRUST AGY-B 5 7/1/2053 0.00
      US ULTRA BOND CBT Sep26 -0.00
      CASH -0.26

      % Portfolio Weight is calculated using the closing market price of each security from the prior business day.

      Holdings are subject to change. The holdings listed should not be considered recommendations to buy or sell a security.

      Asset Allocation

          Stats & Risks

          Performance Metrics

          Overall Morningstar Rating

          MORNINGSTAR CATEGORY Municipal National Intermediate

          Morningstar Rating™ as of 05/31/26. Overall rating for the Municipal National Intermediate. Fund ratings are out of 5 Stars: Overall 4 Stars (259 funds rated); 3 Yrs. 4 Stars (259 funds rated); 5 Yrs. 3 Stars (240 funds rated); 10 Yrs. 5 Stars (179 funds rated).
          The Morningstar Rating™ for funds, or "star rating", is calculated for managed products with at least a 3-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. Managed products; including open-end mutual funds, closed-end funds and exchange-traded funds; are considered a single population for comparative purposes. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-,and 10-year (if applicable) Morningstar Rating metrics. © Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

          Lipper Rankings

          • 1 Year
            101 out of 261
          • 3 Year
            40 out of 248
          • 5 Year
            42 out of 240
          • 10 Year
            12 out of 179

          LIPPER CLASSIFICATION General & Insured Municipal Debt Funds

          Lipper Category returns and rankings as of 06/30/26, are calculated by Lipper Inc., a Reuters Company, which is a nationally recognized organization that compares the performance of mutual funds with similar investment objectives. The Category returns represent the average performance of included funds, while rankings compare an individual fund's returns to those of the other funds in its category. Both are based on total return performance, with capital gains and dividends reinvested, with annual operating expenses deducted, but without including front or back-end sales charges. Rankings begin with the actual share class inception. Rankings are relative to a peer group and do not necessarily mean that the fund had high total returns. Rankings do not reflect sales loads

          Main Risks

          ETFs trade like stocks, are subject to investment risk, including possible loss of principal.

          Bonds are subject to interest rate, credit, liquidity, call and market risks, to varying degrees. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price decline.

          High yield bonds involve increased credit and liquidity risk than higher rated bonds and are considered speculative in terms of the issuer's ability to pay interest and repay principal on a timely basis.

          Municipal income may be subject to state and local taxes. Some income may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are taxable.

          Risk Metrics

          As of  05/31/26  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          BMOP
          		5.84 0.69 1.03 96.41 -0.03

          All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is Bloomberg U.S. Municipal Bond Index.


          Standard Deviation - Standard deviation is a statistical measure of the degree to which an individual portfolio return tends to vary from the mean, based on the entire population. The greater the degree of dispersion, the greater the degree of risk. In mutual funds, the standard deviation tells us how much the return on the fund is deviating from the expected normal returns.

          Alpha - Alpha is a measure of a security's or portfolio's excess return.

          Beta - Beta is a measure of a security’s or portfolio’s volatility, or systematic risk.

          R-Squared - R-squared is a statistical measure that represents the percentage of a fund’s or security’s movements that are explained by movements in a benchmark index.

          Sharpe Ratio - Sharpe ratio is a risk-adjusted measure that measures reward per unit of risk. The higher the Sharpe ratio, the better.

          Distributions

          Dividend Schedule

          Declared
          Monthly
          Distributed
          Monthly
          Paid
          Monthly
          Fiscal Year End
          Aug 31

          Distributions History

          (Values Listed In $)EX DATE RECORD DATE PAYABLE DATE DIVIDEND INCOME SHORT-TERM 
          CAPITAL GAIN          		 LONG-TERM 
          CAPITAL GAIN          		 RETURN OF CAPITAL TOTAL DISTRIBUTION
          07/01/26 07/01/26 07/07/26 0.0795 0.0000 0.0000 0.0000 0.0795
          (Values Listed In $)EX DATE RECORD DATE PAYABLE DATE DIVIDEND INCOME SHORT-TERM 
          CAPITAL GAIN          		 LONG-TERM 
          CAPITAL GAIN          		 RETURN OF CAPITAL TOTAL DISTRIBUTION
          06/01/26 06/01/26 06/04/26 0.0618 0.0000 0.0000 0.0000 0.0618
          05/01/26 05/01/26 05/06/26 0.0582 0.0000 0.0000 0.0000 0.0582
          04/01/26 04/01/26 04/07/26 0.0529 0.0000 0.0000 0.0000 0.0529
          03/02/26 03/02/26 03/05/26 0.0755 0.0000 0.0000 0.0000 0.0755
          02/02/26 02/02/26 02/05/26 0.0504 0.0000 0.0000 0.0000 0.0504
          Literature

          Literature

          PRODUCT INFORMATION

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          ETF Profile Sheet Download

          BNY Mellon Municipal Opportunities Fund Materials

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          Annual Report - Class M Download
          Semi Annual Report - Class M Download

          Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. Download a prospectus, or summary prospectus, if available, that contains that and other information about the fund, and read it carefully before investing.

          ETF shares are listed on an exchange, and shares are generally purchased and sold in the secondary market at market price. At times, the market price may be a premium or discount to the ETF's per share NAV. In addition, ETFs are subject to the risk that an active trading market for an ETF's shares may not develop or be maintained. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions. Any applicable brokerage commissions will reduce returns.

          ETFs trade like stocks, are subject to investment risk, including possible loss of principal. The risks of investing in this ETF typically reflect the risks associated with the types of instruments in which the ETF invests. Diversification cannot assure a profit or protect against loss.

          The fund will issue (or redeem) fund shares to certain institutional investors known as “Authorized Participants” (typically market makers or other broker-dealers) only in large blocks of fund shares known as “Creation Units.” BNY Mellon Securities Corporation (“BNYSC”), a subsidiary of BNY, serves as distributor of the fund. BNYSC does not distribute fund shares in less than Creation Units, nor does it maintain a secondary market in fund shares. BNYSC may enter into selected agreements with Authorized Participants for the sale of Creation Units of Creation Units of fund shares.

          Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

          This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular investment, strategy, investment manager or account arrangement and should not serve as a primary basis for investment decisions.

          Please consult a legal, tax or investment professional in order to determine whether an investment product or service is appropriate for a particular situation.

           

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          BNY Investments Dreyfus provides institutional investors and intermediaries with a variety of domestic and offshore money funds and short duration separate account strategies. BNY Investments Dreyfus (Dreyfus) is a division of Mellon Investments Corporation (MIC), a registered investment adviser and subsidiary of The Bank of New York Mellon Corporation (BNY). Securities are offered by BNY Mellon Securities Corporation (BNYSC), a registered broker-dealer and affiliate of MIC. BNY Investments is the brand name for the investment management business of BNY and its investment firm affiliates worldwide. Certain offshore products are not available to US investors and are distributed by BNY entities licensed in the relevant jurisdictions.

           

          The information provided on this site is for informational purposes only and should not be construed as investment advice or a recommendation of any particular investment product, strategy, investment manager or account arrangement, and should not serve as a primary basis for investment decisions. Prospective investors should consult a legal, tax or financial professional in order to determine whether any investment product, strategy or service is appropriate for their particular circumstances. This information may not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or not authorized.

           

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