High-yield muni portfolios invest at least 50% of assets in high-income municipal securities that are not rated or that are rated by a major agency such as Standard & Poor's or Moody's at the level of BBB (considered speculative in the municipal industry) and below.
Abbreviation: HM
Broad Asset Class: Municipal Bond
Primary Index: Barclays Municipal Bond
Secondary Index: Barclays Municipal 10 Year (8-12) Bond