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junk muni-bond fund

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Financial Dictionary

junk muni-bond fund

A mutual fund or unit trust that invests in relatively low-grade tax-exempt bonds in order to earn a higher return. Bonds purchased for the fund are rated below investment-grade (that is, lower than BBB), or they are not rated at all.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Muni Bond ETFs
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www.vaneck.com/muni
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