CGMU

CGMU seeks high current income exempt from regular federal income tax, consistent with capital preservation by holding a broad portfolio of US muni bonds. Up to 30% of the fund's assets may be subjected to the federal alternative minimum tax. Although the fund is predominantly investment grade, holding at least 65% in debt securities rated at least BBB- or Baa3, it may also invest in junk bonds. The fund may invest in bonds of any maturity or duration. CGMU is managed by a team of portfolio managers that aims to select attractively priced securities believed to be good investment opportunities. The ETF combines the strategies pursued by two related mutual funds offered by the Issuer, thus providing a more efficient, one-ticket approach. The fund managers may engage in active and frequent trading and have full discretion to buy, hold, or sell securities at any time. In its attempt to achieve the objective of higher current income on muni bonds, the fund may accept risks to capital value.