SPDR Nuveen Bloomberg Barclays Municipal Bond ETF TFI provides broad exposure to the investment-grade, tax-exempt U.S. municipal-bond market, but is unlikely to offer attractive risk-adjusted performance relative to its peer group over the full market cycle because it limits its holdings to AAA and AA rated debt. This limits its potential to deliver returns that beat the national muni long Morningstar Category average, justifying a Morningstar Analyst Rating of Neutral.
Will TFI outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable TFI’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the TFI management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of TFI’s parent organization’s priorities and whether they’re in line with investors’ interests.