Tax-Free Muni ETF TAXE Hits Milestone

Core Insights - The article discusses the importance of tax-loss harvesting for investors and highlights the T. Rowe Price Intermediate Municipal Income ETF (TAXE) as a viable option for reinvesting proceeds while minimizing tax impact [1][5]. Group 1: ETF Overview - TAXE is a tax-exempt ETF that aims to generate high income through municipal securities exempt from federal income taxes, charging a low fee of 24 basis points [2]. - The ETF has recently surpassed $100 million in assets under management (AUM) and has attracted nearly $75 million in year-to-date (YTD) flows, indicating strong investor interest [2]. Group 2: Performance Metrics - The ETF has delivered a year-to-date return of 5.4% and has outperformed its category average over the last three months [4]. - For November, TAXE provided an income dividend of $0.1533 per share and a yield to maturity of 3.89% as of October 31 [4]. Group 3: Investment Strategy - The management of TAXE relies on T. Rowe Price's fundamental research and macroeconomic analysis to evaluate the credit quality, prices, and yields of municipal bonds [3]. - The ETF serves as an attractive option for investors looking to reinvest cash from tax-loss harvesting sales, especially given the wash sale rule that restricts reinvestment into similar categories for 30 days [5].