Overlay Shares Municipal Bond ETF Price & Performance (OVM)

Global X Investments Canada has introduced 11 new ETFs, featuring a defense sector index and two Bitcoin covered call funds that pay distributions twice monthly. This marks the first time Canadian investors can access ETFs with more frequent income payouts, expanding Global X’s covered call offerings and lowering management fees on its REIT ETF.1

The ALPS Intermediate Municipal Bond ETF (MNBD) experienced a slight price increase to $25.19, with trading volume dropping significantly below average. Institutional investors have shown renewed interest in the fund, which targets investment-grade, intermediate-term municipal bonds exempt from federal tax. The ETF remains a niche option for tax-sensitive investors.2

Benchmark AAA municipal bond yields held steady last week, with five- and ten-year maturities still up notably for the year. Despite these higher yields, mutual funds saw continued outflows, while ETFs attracted inflows. Heavy new issuance and seasonal supply pressures have weighed on recent municipal bond performance.3