An example of a tax exempt ETF rated a "Buy," by TheStreet Ratings is the BlackRock Muni Holdings Fund ( MHD), which is rated an A+ (Excellent), with a current yield of 5.65%, as of Friday's close. The fund uses significant leverage, and as of June 29, the average coupon, including zero coupon bonds, was 4.47%, according to BlackRock Investments. The fund "primarily in portfolios of long-term, investment-grade municipal obligations." As of June 29, 28.7% of the fund's managed assets were rated above the equivalent of BBB ratings form S&P, while 6.0% of the managed assets were rated the equivalent of BB or below, and 7.1% were unrated. An example of a buy-rated open-ended municipal bond fund is the Dreyfus New York Tax Exempt Bond Fund ( DRNYX), with a 30-day yield of 1.87%, as of Friday's close. This fund seeks to invest "substantially all of its assets in municipal bonds that provide income exempt from federal, New York state and New York city personal income taxes." Dreyfus also says that "the fund will invest at least 80% of its assets in investment grade municipal bonds (Baa/BBB or higher), or the unrated equivalent as determined by Dreyfus."