
See exactly how AUSM's revenue becomes profit — a Sankey that traces revenue (and its reported segments) through gross profit, operating expenses, and net profit, with the year-over-year change on every line.
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This actively managed ETF aims to provide current income and preserve capital primarily through investments in municipal debt, which is generally exempt from federal income tax (though not necessarily federal alternative minimum tax). While the fund predominantly holds high-quality, investment-grade instruments, it has the flexibility to allocate up to 10% of its assets to lower-rated, speculative-grade (junk) bonds. Its core focus is on very short-term municipal bonds, targeting a dollar-weighted average portfolio maturity of no more than one year. The investment process integrates…
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