(Bloomberg) -- Four years after the last Build America Bonds were issued, the taxable debt is delivering the biggest gains among exchange-traded funds focused on municipal securities.

The SPDR Nuveen Barclays Build America Bond ETF proved the best choice during a record-setting year for muni exchange- traded funds. Its 20.6 % gain through Dec. 23 was highest among the 26 muni ETFs tracked by Bloomberg.

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