But for investors worried that more Fed rate hikes in the coming months could tip the economy into recession, fixed income might be a more attractive bet.
"Municipal bond issuers appear well poised to weather a possible recession in 2023/24.
Bank of America has the equivalent of a buy rating on several municipal bond ETFs, including JPMorgan Ultra-Short Municipal Income ETF (JMST) and the iShares National Muni Bond ETF (MUB) .
Some large funds that could fit that description include the iShares 3-7 Year Treasury Bond ETF (IEI) , the Schwab Intermediate-Term US Treasury ETF (SCHR) and the Vanguard Intermediate-Term Corporate Bond ETF (VCIT).
The actively managed Flexible Income ETF (BINC) launched in May and has about $76 million in assets so far, according to FactSet.
Persons:
Michelle Cluver, Andrew Slimmon, Slimmon, Russell, Jared Woodard, Woodard, Cluver, Rick Rieder
Organizations:
Federal, Global, Morgan Stanley Investment Management, RSP, Nasdaq, Bank of America, JPMorgan Ultra, Muni Bond ETF, Treasury Bond ETF, Treasury, BlackRock