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Intermediate Municipal Income ETF (TAXE)



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Upturn Advisory Summary
08/14/2025: TAXE (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type ETF | Historic Profit 0.27% | Avg. Invested days 33 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | ETF Returns Performance ![]() |
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Key Highlights
Volume (30-day avg) - | Beta - | 52 Weeks Range 48.23 - 50.21 | Updated Date 06/28/2025 |
52 Weeks Range 48.23 - 50.21 | Updated Date 06/28/2025 |
Upturn AI SWOT
Intermediate Municipal Income ETF
ETF Overview
Overview
Intermediate Municipal Income ETFs provide exposure to investment-grade municipal bonds with intermediate maturities, offering tax-advantaged income for US investors. They aim to balance yield and risk within the municipal bond market.
Reputation and Reliability
Reputation varies by issuer. Look for established firms with a history of managing fixed-income funds.
Management Expertise
Experienced management teams often include specialists in municipal bond investing and credit analysis.
Investment Objective
Goal
The primary investment goal is to provide current income exempt from federal income tax by investing in intermediate-term municipal bonds.
Investment Approach and Strategy
Strategy: These ETFs typically track a market-weighted index of intermediate-term municipal bonds, aiming to replicate the index's performance.
Composition Holdings primarily consist of investment-grade municipal bonds with varying maturities within the intermediate range (e.g., 3-10 years).
Market Position
Market Share: Market share varies significantly among issuers of intermediate municipal income ETFs.
Total Net Assets (AUM): Varies depending on the ETF. This can range from millions to billions of dollars.
Competitors
Key Competitors
- VTEB
- ITM
- MUB
Competitive Landscape
The intermediate municipal bond ETF market is competitive, with several large players. Advantages may include lower expense ratios, tighter tracking error, or a longer track record. Disadvantages might be lower liquidity or a less diversified portfolio compared to competitors.
Financial Performance
Historical Performance: Historical performance varies based on interest rate movements and credit spreads. Data would need to be pulled from specific ETF and displayed as historical returns.
Benchmark Comparison: Performance is typically compared to benchmarks like the S&P Intermediate Term National AMT-Free Municipal Bond Index. Specific ETF performance data must be retrieved to complete this comparison.
Expense Ratio: Ranges typically from 0.05% to 0.30%, but this can vary.
Liquidity
Average Trading Volume
Average trading volume varies depending on the ETF's popularity and AUM; higher trading volume indicates better liquidity.
Bid-Ask Spread
The bid-ask spread is generally tight for larger, more liquid ETFs, reflecting lower transaction costs.
Market Dynamics
Market Environment Factors
Economic growth, inflation expectations, interest rate policies, and changes in tax laws significantly influence municipal bond prices and yields.
Growth Trajectory
Growth depends on investor demand for tax-advantaged income and the overall health of the municipal bond market, with trends reflecting interest rate cycles and investor sentiment.
Moat and Competitive Advantages
Competitive Edge
Competitive advantages in this ETF sector come from low expense ratios, efficient index tracking, and established relationships with large broker-dealers. Strong brand recognition and significant AUM can also attract investors, creating a virtuous cycle of increased liquidity and lower trading costs. A dedicated focus on credit analysis and risk management can also provide a competitive edge by minimizing defaults and maximizing returns within the investment-grade space. Finally, some ETFs may differentiate themselves through unique indexing methodologies or by focusing on specific sectors within the municipal bond market.
Risk Analysis
Volatility
Volatility is generally lower than equity ETFs but sensitive to interest rate changes and credit market conditions. Data on specific ETF would need to be extracted and displayed.
Market Risk
Risks include interest rate risk (bond prices fall as rates rise), credit risk (risk of default), and liquidity risk (difficulty selling bonds quickly).
Investor Profile
Ideal Investor Profile
Ideal investors are those seeking tax-advantaged income, particularly high-income earners in high-tax states. Suitable for those with a moderate risk tolerance and a need for stable income.
Market Risk
Best suited for long-term investors seeking a consistent stream of tax-exempt income. Can be used as a core holding in a diversified fixed-income portfolio.
Summary
Intermediate municipal income ETFs offer tax-exempt income through investment in investment-grade municipal bonds with intermediate maturities. These ETFs provide diversification within the municipal bond market and are sensitive to interest rate movements. The expense ratio is low, and trading volumes vary by ETF. Ideal for those seeking tax-advantaged income and a steady cash flow. The performance is tied to interest rates and credit risks.
Peer Comparison
Sources and Disclaimers
Data Sources:
- ETF provider websites
- FactSet
- Morningstar
- Bloomberg
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Investment decisions should be based on individual circumstances and consultation with a qualified financial advisor. Performance data is historical and not indicative of future results. The AI-based rating is an estimate and should not be the sole basis for investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Intermediate Municipal Income ETF
Exchange NASDAQ | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website |
The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in investment-grade municipal securities or derivatives that are linked to or provides investment exposure to the municipal market. Under normal conditions, the fund"s weighted average effective maturity will be four to twelve years. There are no maturity limitations on individual securities.

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