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Asset Manager VanEck Unveils First Sustainable Muni ETF

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Businessman in investment concept watering financial line chart

VanEck is launching a $80 billion municipal exchange-traded fund business with a product focused on sustainable investing, according to a report released by Bloomberg on Friday.

The asset manager introduced an actively managed fund, the VanEck HIP Sustainable Muni ETF, which will focus on investments in projects that promote sustainability or those with “positive social, environmental and economic outcomes.” The ETF will trade under the ticker SMI.

The fund capitalizes on the opportunity to invest on growing demand for investments in both stocks and bonds that have a positive social or environmental impact.

The municipal ETFs have attracted a record amount of cash this year as investors look out for tax-free securities to protect income from potentially higher levies under the Biden administration.

VanEck enters a burgeoning industry of the fixed-income ETFs focused on investments with a positive environmental or social impact, the fund that will be managed by Jim Colby and Stephanie Wang and will expand to VanEck’s existing muni ETF offering, which has more than $7 billion under management.

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