Amex Launches Lehman Municipal Bond ETF

The American Stock Exchange launched trading in the SPDR Lehman Municipal Bond ETF (Amex:TFI) by State Street Global Advisors this week.“Amex is pleased to work with State Street as they continue to growth their family of fixed income ETFs,” said Scott Ebner, senior vice president, Amex ETF Marketplace. “TFI gives investors access to the U.S. municipal bond market and provides income that is exempt from federal income taxes.”

TFI is looking to replicate the price and yield performance of the Lehman Brothers Municipal Management Money Index.  The Index is a rules-based, market-value weighted index designed for the tax-exempt bond market.