The Rockefeller New York Municipal Bond ETF (RMNY) primarily allocates its capital across a broad spectrum of municipal bonds, irrespective of their duration, aiming to deliver income that is generally free from both federal and New York State income taxes. The fund maintains the flexibility to commit up to a quarter of its portfolio to debt instruments graded as medium investment quality or lower, encompassing higher-yielding, speculative-grade bonds. It may also invest in private activity bonds, where the interest income qualifies as a tax-preference item, requiring shareholders subject to the Alternative Minimum Tax (AMT) to account for these distributions in their computations.
