Muni single-state intermediate portfolios invest in bonds issued by state and local governments to fund public projects. The income from such bonds is generally free from federal taxes and from state taxes in the issuing state. To get the state-tax benefit, these portfolios buy bonds from only one state. These portfolios have durations of 4.5 to seven years (or, if duration is unavailable, average maturities of five to 12 years).
Abbreviation: SI
Broad Asset Class: Municipal Bond
Primary Index: Barclays Municipal Bond
Secondary Index: Barclays Municipal 10 Year (8-12) Bond