SeekingAlpha
This is a brief overview of Cumberland Advisorsâ thoughts on financial markets as we head into the second half of 2025. Read more here.
SeekingAlpha
Q2 2025 Credit Commentary: Up In The Air
SeekingAlpha
The end of the second quarter of 2025 saw slight rises in the 10-year Treasury yield but slight lowering of yields in the 10-year AAA muni yield.
SeekingAlpha
Municipal bonds are currently offering attractive tax-adjusted yields that are backed by strong fundamentals.
SeekingAlpha
Fixed Income Outlook - Q3 2025
SeekingAlpha
The municipal bond market faced strong headwinds in H1 2025, with tariff and budget policies, including debate over the One Big Beautiful Bill Act, weighing heavily on investor sentiment.
| Name | Correlation | AUM | Expense Ratio | |
|---|---|---|---|---|
| ICLO | -25.81% | $332.76M | 0.19% | |
| USDU | -25.07% | $129.88M | 0.5% | |
| UUP | -24.34% | $183.22M | 0.77% | |
| THTA | -23.36% | $34.97M | 0.61% | |
| FLJH | -18.51% | $86.24M | 0.09% | |
| DBJP | -16.93% | $369.99M | 0.45% | |
| DXJ | -16.87% | $3.48B | 0.48% | |
| PXJ | -15.30% | $26.93M | 0.66% | |
| HEWJ | -15.03% | $353.57M | 0.5% | |
| FLTR | -14.34% | $2.44B | 0.14% | |
| PSCE | -14.26% | $62.96M | 0.29% | |
| FTSL | -13.44% | $2.40B | 0.87% | |
| KBWB | -13.20% | $4.84B | 0.35% | |
| XES | -13.03% | $162.45M | 0.35% | |
| IEZ | -12.86% | $115.69M | 0.4% | |
| OIH | -12.53% | $1.04B | 0.35% | |
| CLOI | -12.34% | $1.06B | 0.4% | |
| XME | -12.32% | $2.08B | 0.35% | |
| FXN | -11.73% | $287.45M | 0.62% | |
| LONZ | -11.44% | $739.07M | 0.63% |
| Name | Correlation | AUM | Expense Ratio | |
|---|---|---|---|---|
| SFYF | -0.01% | $28.33M | 0.29% | |
| EES | 0.02% | $612.84M | 0.38% | |
| AIQ | 0.03% | $3.83B | 0.68% | |
| EWJV | -0.03% | $367.28M | 0.15% | |
| SLV | 0.03% | $17.47B | 0.5% | |
| DYNF | -0.03% | $19.47B | 0.27% | |
| IUSG | -0.05% | $23.64B | 0.04% | |
| PPLT | -0.08% | $1.67B | 0.6% | |
| QQQI | 0.08% | $2.85B | 0.68% | |
| BBLU | 0.09% | $284.12M | 0.15% | |
| CPNJ | -0.11% | $48.53M | 0.69% | |
| FIDU | 0.12% | $1.45B | 0.084% | |
| DFVX | -0.15% | $458.39M | 0.19% | |
| COM | 0.15% | $210.46M | 0.72% | |
| VUG | 0.17% | $177.37B | 0.04% | |
| FV | 0.18% | $3.68B | 0.87% | |
| XMMO | 0.20% | $4.05B | 0.34% | |
| CSHI | 0.20% | $543.92M | 0.38% | |
| MNA | -0.21% | $243.06M | 0.77% | |
| XLG | -0.21% | $9.56B | 0.2% |
| Name | Correlation | AUM | Expense Ratio | |
|---|---|---|---|---|
| VTEB | 95.27% | $37.84B | 0.03% | |
| TFI | 94.91% | $3.21B | 0.23% | |
| MUB | 93.51% | $38.62B | 0.05% | |
| PZA | 93.35% | $2.84B | 0.28% | |
| MLN | 92.94% | $513.44M | 0.24% | |
| JMUB | 92.70% | $3.09B | 0.18% | |
| CMF | 92.68% | $3.50B | 0.08% | |
| ITM | 92.40% | $1.87B | 0.18% | |
| NYF | 92.15% | $885.33M | 0.25% | |
| MMIT | 90.30% | $1.03B | 0.3% | |
| FMHI | 89.67% | $748.97M | 0.7% | |
| TAXF | 89.23% | $478.14M | 0.29% | |
| SCMB | 88.99% | $2.14B | 0.03% | |
| HYMB | 88.52% | $2.62B | 0.35% | |
| DFNM | 87.88% | $1.59B | 0.17% | |
| HYD | 87.13% | $3.31B | 0.32% | |
| CGMU | 86.68% | $3.39B | 0.27% | |
| HTAB | 86.52% | $410.50M | 0.39% | |
| MUNI | 84.94% | $2.02B | 0.35% | |
| MMIN | 84.56% | $321.61M | 0.3% |
| Name | Correlation | Market Cap | Return % (1 Year) | Div Yield % |
|---|---|---|---|---|
| AVPT | <0.01% | $3.75B | +75.98% | 0.00% |
| TCBI | <0.01% | $4.03B | +30.58% | 0.00% |
| MGRC | <0.01% | $2.94B | +7.77% | 1.59% |
| VYGR | 0.01% | $189.80M | -61.72% | 0.00% |
| ADBE | -0.03% | $155.68B | -35.13% | 0.00% |
| CEVA | -0.03% | $539.31M | +8.67% | 0.00% |
| NCNO | -0.04% | $3.46B | -4.84% | 0.00% |
| ACDC | -0.04% | $1.28B | -1.60% | 0.00% |
| RYAAY | 0.04% | $30.48B | +21.13% | 0.00% |
| LUCK | 0.04% | $1.44B | -27.18% | 2.12% |
| STM | 0.05% | $28.16B | -24.54% | 1.12% |
| IRTC | 0.05% | $4.43B | +40.88% | 0.00% |
| CARM | 0.06% | $18.84M | -64.22% | 0.00% |
| KOP | -0.07% | $674.94M | -9.06% | 0.89% |
| MBLY | -0.07% | $13.46B | -38.52% | 0.00% |
| CATO | 0.07% | $56.45M | -44.68% | 5.99% |
| UEC | 0.07% | $3.05B | +0.88% | 0.00% |
| VNDA | -0.08% | $292.90M | -17.44% | 0.00% |
| HDB | -0.08% | $192.23B | +24.77% | 0.93% |
| UBS | -0.09% | $113.71B | +14.81% | 1.26% |
| Name | Correlation | Market Cap | Return % (1 Year) | Div Yield % |
|---|---|---|---|---|
| AMT | 42.46% | $103.82B | +6.20% | 3.01% |
| PSA | 41.76% | $50.63B | -4.44% | 4.15% |
| SAFE | 40.76% | $1.11B | -28.27% | 4.53% |
| SBAC | 39.74% | $24.97B | +10.50% | 1.81% |
| PFSI | 39.56% | $5.21B | +0.16% | 1.19% |
| CUBE | 38.40% | $9.61B | -11.13% | 4.91% |
| EXR | 36.71% | $31.93B | -7.36% | 4.30% |
| TU | 36.52% | $24.99B | +5.67% | 7.03% |
| ELS | 36.33% | $11.84B | -7.68% | 3.20% |
| FAF | 35.94% | $5.80B | -0.79% | 3.83% |
| NNN | 35.42% | $8.29B | -2.28% | 5.25% |
| HD | 35.36% | $368.23B | +3.25% | 2.46% |
| FCPT | 35.08% | $2.71B | +3.58% | 5.24% |
| ES | 34.79% | $24.02B | +10.33% | 4.49% |
| CCI | 34.62% | $44.96B | +0.12% | 5.58% |
| FTS | 34.59% | $23.68B | +19.49% | 3.68% |
| MFA | 34.58% | $954.67M | -18.78% | 15.16% |
| GTY | 34.52% | $1.55B | -4.81% | 6.67% |
| RKT | 34.49% | $2.11B | +1.25% | 0.00% |
| LEN.B | 33.65% | $27.81B | -24.37% | 1.85% |
| Name | Correlation | Market Cap | Return % (1 Year) | Div Yield % |
|---|---|---|---|---|
| DFDV | -45.06% | $361.15M | +2,667.20% | 0.00% |
| JPM | -26.61% | $802.32B | +37.44% | 1.83% |
| STTK | -26.30% | $39.28M | -82.14% | 0.00% |
| MVO | -24.80% | $69.92M | -35.18% | 21.79% |
| FCNCA | -23.95% | $28.61B | +21.24% | 0.35% |
| KOS | -23.78% | $979.92M | -64.29% | 0.00% |
| NAT | -22.97% | $578.08M | -27.78% | 10.66% |
| LPG | -22.61% | $1.21B | -20.79% | 0.00% |
| SANM | -21.90% | $5.61B | +46.70% | 0.00% |
| INSW | -20.44% | $1.94B | -24.29% | 1.23% |
| STNG | -19.89% | $2.33B | -40.74% | 3.56% |
| SMHI | -19.44% | $146.35M | -62.57% | 0.00% |
| RES | -19.38% | $1.10B | -19.42% | 3.26% |
| BFH | -19.28% | $2.89B | +26.15% | 1.36% |
| BTU | -19.16% | $1.82B | -36.41% | 2.04% |
| LPLA | -19.01% | $29.63B | +40.36% | 0.32% |
| BKR | -18.78% | $39.50B | +11.65% | 2.21% |
| NVGS | -18.71% | $1.07B | -9.28% | 1.29% |
| TRMD | -18.46% | $1.73B | -53.05% | 22.61% |
| TK | -18.09% | $643.42M | +22.54% | 0.00% |
Current Value
$49.701 Year Return
Current Value
$49.701 Year Return
FMB - Traded Fund III First Trust Managed Municipal ETF contains 1342 holdings. The top holdings include 3BWBPW3
Name | Weight |
|---|---|
| - | 5.22% |
| - | 0.88% |
3 3BWBPW3NT MAIN STR NAT GAS INC GA GAS SUPPLY REV 4% | 0.80% |
| - | 0.76% |
| - | 0.55% |
| - | 0.54% |
3 3BYJLM7NT TEXAS MUN GAS ACQUISITION & SUPPLY CORP IV GAS SUPPLY REV 5.5% | 0.51% |
| - | 0.50% |
| - | 0.50% |
| - | 0.49% |
| - | 0.47% |
3 3BRMTV6NT PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.5% | 0.45% |
| - | 0.45% |
3 3BVBXH3NT SOUTHEAST ENERGY AUTH COMMODITY SUPPLY REV ALA 4% | 0.45% |
| - | 0.43% |
| - | 0.42% |
| - | 0.39% |
| - | 0.39% |
| - | 0.35% |
| - | 0.34% |
| - | 0.34% |
3 3BXCNQ6NT NEW YORK N Y 5.25% | 0.34% |
| - | 0.33% |
| - | 0.33% |
| - | 0.32% |
| - | 0.32% |
| - | 0.32% |
| - | 0.31% |
| - | 0.30% |
| - | 0.30% |
Sector | Weight |
|---|---|
