HTAX has an expense ratio of 0.49%.
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Interestingly, investors are increasingly turning to high-yield municipal bonds.
“Despite comprising just 8% of the $4 trillion municipal bond market, high yield municipal bonds attracted 38% of the flows into open-end funds in 2024,” noted Macquarie in its fact sheet, citing a JPMorgan report.
HTAX is Macquarie's second actively managed fixed-income ETF, following the Macquarie Tax-Free USA Short Term ETF (NYSE:STAX), launched in 2023. Macquarie manages $11.8 billion in assets across municipal bond strategies, according to its fact sheet.
Macquarie manages $633.7 billion in assets and employs a research-driven investment strategy. HTAX joins five other actively managed U.S.-listed ETFs under its umbrella.
Barron's Best Fund Families has notably given the top rank to Macquarie Asset Management overall in the Tax-Exempt Bond category twice in the past five years.
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