BlackRock has thrown a new type of product into the mix in the rapidly evolving municipal bond exchange-traded fund industry.

It has introduced six municipal bond ETFs, which it said on Friday are the first of their kind. Unlike other muni ETFs, they liquidate at a target date. The liquidation feature makes these funds similar to unit investment trusts or even municipal bonds themselves.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.