Prompted by uncertainty and volatility in the municipal market, Van Eck Global Securities last week rolled out a short-term municipal exchange-traded fund in hopes of targeting investors that are seeking shelter by staying defensive amid the recent turmoil.

The Market Vectors-Lehman AMT-Free Short Municipal Index debuted on the American Stock Exchange under the ticker symbol SMB on Tuesday and is the latest ETF to be introduced as part of an ongoing trend that began picking up steam last summer.

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