iShares Intermediate Muni Income Active ETF(AMEX:INMU)

INMU is an actively managed fund that invests in municipal bonds issued by US states. Municipal bonds are debt obligations that are generally exempt from federal and local/state taxes, and issued by or on behalf of, government entities. The fund intends to invest in investment grade bonds, but it may also invest in muni bonds of any credit rating. INMUs managers aim to construct a portfolio of municipal bonds that they believe have high potential returns relative to their risk. This portfolio is also expected to maintain a dollar-weighted average portfolio duration of four to six years.