The Solactive Municipal Infrastructure Revenue Bond Index is a rules-based, market value weighted index engineered for the tax exempt bond market. The index is designed to track the U.S. long term tax-exempt bond market. The index is intended to track bonds that have been issued with the intention of funding federal, state and local infrastructure projects such as water and sewer systems, public power systems, toll roads, bridges, tunnels, and many other public use projects. The index is comprised of tax-exempt municipal securities issued by states, cities, counties, districts, their respective agencies and other tax-exempt issuers. The index will attempt to only hold those bonds issued by state and local municipalities where the interest and principal repayments are generated from pledged revenues.
Please note that the index chart above may be partly comprised of historical performance illustration based on a backtest. The guideline provides an indication where this is the case.