BNY Mellon Municipal Intermediate ETF(NASDAQ:BKMI)

BKMI seeks total returns from investment-grade, intermediate municipal bonds that are generally exempt from US federal income tax, though some holdings may be subject to the alternative minimum tax. The fund combines fundamental credit analysis with relative value assessments to select bonds, aiming to capitalize on market inefficiencies by identifying undervalued sectors. While holdings may be of any maturity or duration, the funds average effective duration will be between three and eight years. Positions are sold if credit risk increases or superior opportunities arise. The fund may employ derivatives such as options, futures, and swaps to hedge risks, manage duration, or enhance returns. On January 12, 2026, BKMI converted from a mutual fund to an ETF structure, bringing in around $1.77 billion in assets.