SPDR Nuveen Bloomberg Barclays Municipal Bond ETF TFI is provides broad exposure to the investment-grade, tax-exempt U.S. municipal-bond market, for a low fee. But there are cheaper alternatives, and the fund limits its holdings to AAA and AA rated debt, which limits its upside potential and its representativeness of the market. Under our new ratings methodology, this fund warrants a downgrade to a Morningstar Analyst Rating of Neutral from Bronze.
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.