AVMU Stock, Avantis Core Municipal Fixed Income ETF Information

The fund seeks current income that is exempt from federal income tax. The funds investment process uses an analytical framework, which includes an assessment of securities expected income and capital appreciation , to seek securities with high expected returns. The portfolio managers categorize securities within the funds investment universe into component groups based on factors such as industry sector, credit rating, duration, country, and currency. The portfolio managers then calculate the expected return implied by the yield curve of each component group, while considering valuation metrics such as yield, duration, and option adjusted spreads. Finally, the portfolio managers adjust the portfolio to arrive at position weightings for each component group with the goal of building a portfolio with enhanced expected return.