BMOP

The BNY Mellon Municipal Opportunities ETF (BMOP) strives to deliver considerable current income, specifically exempt from federal taxes, while also pursuing capital appreciation. To achieve this, the fund primarily invests at least 80% of its net assets, including any leveraged funds, in municipal bonds that generate income free from U.S. federal income taxation. A minimum of 50% of the fund's net assets are allocated to bonds that carry an investment-grade rating (such as Baa3/BBB- or higher) at the point of purchase, or are considered to be of equivalent quality by its sub-adviser if unrated. To boost potential yield, the fund may dedicate up to 50% of its net assets to bonds with lower credit ratings, commonly known as "high yield" or "junk" bonds, or those determined by its sub-adviser, Insight North America LLC, to be of comparable quality despite lacking a formal rating. The fund maintains flexibility regarding the time horizons of its investments, which can include individual municipal and taxable bonds of any maturity or duration. It does not aim for a particular range for either maturity or duration. Duration itself signifies an investment's sensitivity to interest rate fluctuations, often referred to as its "interest rate risk." Generally, a longer duration implies a greater susceptibility to changes in interest rates, and thus, a potentially higher long-term risk and return profile. As a liquid Exchange Traded Fund (ETF), BMOP offers investors the convenience of trading shares throughout market operating hours.