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Market Vectors ETFs today announced that the
Intermediate Municipal Index ETF (NYSE Arca: ITM), has received a 4-star rating from Morningstar for the three-year, five-year and overall time periods.* There are 221 funds in the Morningstar Muni National Intermediate category for the three-and-five year period and 194 funds in the five-year period. ITM is the first in a lineup of six Market Vectors municipal bond ETFs to reach the five-year performance milestone, and one of four of the funds currently rated 4-stars overall by Morningstar.
“Intermediate-duration bonds, meaning those with a maturity in the six to 17 year range, are a crucial component of a complete municipal bond investment strategy, and ITM allows investors to gain targeted exposure to these maturities,” said James Colby, Portfolio Manager and Senior Municipal Strategist with Market Vectors ETFs. “We’re very pleased to receive this recognition from Morningstar.” In addition to overseeing the Market Vectors family of ETFs, Mr. Colby regularly writes about the municipal bond market in his blog