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        <name>MISSISSIPPI ST DEV BANK SPL OB</name>
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        <name>NORTH HOUSTON DEV CORP TX TAX</name>
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        <name>GALVESTON CNTY TX MUNI UTILITY</name>
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          <couponKind>Fixed</couponKind>
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        <name>LA JOYA TX INDEP SCH DIST</name>
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        <name>N BARRINGTON IL SPL SVC AREA #</name>
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        <name>WEST KERN CA CMNTY CLG DIST CO</name>
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        <name>CLOVIS CA UNIF SCH DIST</name>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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      <invstOrSec>
        <name>RENO NV CAPITAL IMPT REVENUE</name>
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      <invstOrSec>
        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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      <invstOrSec>
        <name>SAN LEANDRO CA UNIF SCH DIST</name>
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          <isin value="US798458TB10"/>
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          <maturityDt>2034-08-01</maturityDt>
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      <invstOrSec>
        <name>GRAND CNTY SCH DIST LOCAL BLDG</name>
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          <isin value="US385375AH37"/>
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        <curCd>USD</curCd>
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          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SIOUX CENTER IA CMNTY SCH DIST</name>
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          <isin value="US829438HD51"/>
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        <curCd>USD</curCd>
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          <maturityDt>2024-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <curCd>USD</curCd>
        <valUSD>101170.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KENTUCKY ST ASSET/LIABILITY CO</name>
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          <isin value="US491189EG77"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>HARTFORD CT</name>
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          <isin value="US416415FQ51"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17164.05000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>SACRAMENTO CITY CA UNIF SCH DI</name>
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        <curCd>USD</curCd>
        <valUSD>241398.00000000</valUSD>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>GRAND JUNCTION CO REGL ARPT AU</name>
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        <name>SEASIDE OR TRANSIENT LODGING T</name>
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        <name>DEARBORN MI SCH DIST</name>
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        <name>WEATHERFORD TX INDEP SCH DIST</name>
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        <name>OYSTER BAY NY</name>
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        <name>NEW JERSEY ST ECON DEV AUTH MT</name>
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        <name>LOUISVILLE &amp; JEFFERSON CNTY KY</name>
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        <name>NORTH HOUSTON DEV CORP TX TAX</name>
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        <name>GROSSMONT CA HLTHCARE DIST</name>
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        <name>PROVIDENCE RI PUBLIC BLDGS AUT</name>
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        <name>ADAMS CNTY IL SCH DIST #172</name>
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      <invstOrSec>
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        <valUSD>222518.00000000</valUSD>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-15</maturityDt>
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        <name>ARIZONA ST HLTH FACS AUTH</name>
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          <isin value="US040507QB45"/>
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        <curCd>USD</curCd>
        <valUSD>500000.00000000</valUSD>
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        <debtSec>
          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.15000000</annualizedRt>
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      <invstOrSec>
        <name>SUFFOLK CNTY NY</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>KELSEYVILLE CA UNIF SCH DIST</name>
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          <isin value="US488224DN31"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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        <name>PHILADELPHIA PA SCH DIST</name>
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        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
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          <isin value="US646066TW02"/>
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        <name>PORT NEW ORLEANS LA BRD OF COM</name>
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        <name>MUNDELEIN IL</name>
        <lei>N/A</lei>
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          <maturityDt>2028-12-15</maturityDt>
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        <name>CHICAGO IL WTRWKS REVENUE</name>
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        <name>Brownsville Area School District</name>
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        <name>SIOUX CENTER IA CMNTY SCH DIST</name>
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        <name>CALEXICO CA UNIF SCH DIST</name>
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        <name>BNC MET DIST #1 CO</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIV OF CENTRAL ARKANSAS AR RE</name>
        <lei>N/A</lei>
        <title>University of Central Arkansas</title>
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          <isin value="US914115M649"/>
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        <curCd>USD</curCd>
        <valUSD>416034.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW BRITAIN CT</name>
        <lei>549300MERJSUOPGAV271</lei>
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        <cusip>642714BP3</cusip>
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          <isin value="US642714BP30"/>
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        <curCd>USD</curCd>
        <valUSD>385269.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAINE ST FIN AUTH LOAN REVENUE</name>
        <lei>N/A</lei>
        <title>Finance Authority of Maine</title>
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          <isin value="US56042TAV08"/>
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        <balance>155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>185051.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REGL TRANSPRTN AUTH IL</name>
        <lei>549300FOIPI62F5YFO59</lei>
        <title>Regional Transportation Authority</title>
        <cusip>759911XR6</cusip>
        <identifiers>
          <isin value="US759911XR68"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>552140.00000000</valUSD>
        <pctVal>0.654938117791</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMPTON CA UNIF SCH DIST COPS</name>
        <lei>N/A</lei>
        <title>Compton Unified School District/CA</title>
        <cusip>204738BB3</cusip>
        <identifiers>
          <isin value="US204738BB37"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>576940.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PENNSYLVANIA ST HGR EDUCTNL FA</name>
        <lei>N/A</lei>
        <title>Pennsylvania Higher Educational Facilities Authority</title>
        <cusip>70917RKC8</cusip>
        <identifiers>
          <isin value="US70917RKC87"/>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>209430.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.87900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MASSACHUSETTS ST</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
        <cusip>57582PCV0</cusip>
        <identifiers>
          <isin value="US57582PCV04"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>84325.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.84900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON CNTY IL CMNTY UNITS</name>
        <lei>N/A</lei>
        <title>Washington County Community Unit School Dist No 10 West Washington</title>
        <cusip>937659CY4</cusip>
        <identifiers>
          <isin value="US937659CY47"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>843765.00000000</valUSD>
        <pctVal>1.000858226098</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ARIZONA INDL DEV AUTH STUDENT</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority</title>
        <cusip>04052VAK6</cusip>
        <identifiers>
          <isin value="US04052VAK61"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>283665.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VANPORT TWP PA MUNI AUTH SWR R</name>
        <lei>N/A</lei>
        <title>Vanport Township Municipal Authority</title>
        <cusip>92209NAT2</cusip>
        <identifiers>
          <isin value="US92209NAT28"/>
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        <balance>145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>151179.90000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ERIE PA SWR AUTH</name>
        <lei>N/A</lei>
        <title>Erie Sewer Authority</title>
        <cusip>295533QD8</cusip>
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          <isin value="US295533QD82"/>
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        <balance>460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>578992.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CICERO IL</name>
        <lei>N/A</lei>
        <title>Town of Cicero IL</title>
        <cusip>171646SD5</cusip>
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          <isin value="US171646SD53"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>576797.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EUCLID OH CITY SCH DIST COPS</name>
        <lei>N/A</lei>
        <title>Euclid City School District</title>
        <cusip>298048AS8</cusip>
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          <isin value="US298048AS85"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>442328.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
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          <isin value="US59261AZU41"/>
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        <curCd>USD</curCd>
        <valUSD>626625.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2044-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LAZY NINE TX MUNI UTILITY DIST</name>
        <lei>N/A</lei>
        <title>Lazy Nine Municipal Utility District No 1B</title>
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        <identifiers>
          <isin value="US52109HJS31"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2022-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>SHREVEPORT LA WTR &amp; SWR REVENU</name>
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        <identifiers>
          <isin value="US825485WM36"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>638670.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OXNARD CA WTR REVENUE</name>
        <lei>N/A</lei>
        <title>City of Oxnard CA Water System Revenue</title>
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        <identifiers>
          <isin value="US692056CG72"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>761874.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>RIO BLANCO CNTY CO SCH DIST #R</name>
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      <invstOrSec>
        <name>ONTARIO CA MONTCLAIR SCH DIST</name>
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          <isin value="US914115M318"/>
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        <name>RHODE ISLAND ST HLTH &amp; EDUCTNL</name>
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          <isin value="US762196JQ75"/>
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        <valUSD>135246.10000000</valUSD>
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          <maturityDt>2029-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>PASQUOTANK CNTY NC COPS</name>
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          <isin value="US702674BR20"/>
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        <name>NORTH CAROLINA ST TURNPIKE AUT</name>
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          <isin value="US65830RCA59"/>
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        <name>SOUTH SLOANS LAKE MET DIST #2</name>
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          <isin value="US84039TAN54"/>
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        <name>CITY OF HARTFORD CT</name>
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          <maturityDt>2034-07-01</maturityDt>
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        <name>OHIO ST TURNPIKE COMMISSION</name>
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        <name>RACINE WI WTRWKS REVENUE</name>
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        <name>ONEIDA CO NY LOCA 3 12/44</name>
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        <name>RIO BLANCO CNTY CO SCH DIST #R</name>
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        <name>University of South Alabama</name>
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      <invstOrSec>
        <name>ILLINOIS ST SALES TAX REVENUE</name>
        <lei>54930048FV8RWPR02D67</lei>
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          <isin value="US452227NH06"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COOK CNTY IL CMNTY CLG DIST #5</name>
        <lei>N/A</lei>
        <title>Cook County Community College District No 527 Morton</title>
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          <isin value="US216135EM18"/>
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        <valUSD>570863.70000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-12-15</maturityDt>
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      <invstOrSec>
        <name>SHREVEPORT LA WTR &amp; SWR REVENU</name>
        <lei>N/A</lei>
        <title>City of Shreveport LA Water &amp; Sewer Revenue</title>
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          <isin value="US825485WN19"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KLICKITAT CNTY WA PUBLIC UTILI</name>
        <lei>N/A</lei>
        <title>Klickitat County Public Utility District No 1</title>
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          <isin value="US498622KD07"/>
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        <curCd>USD</curCd>
        <valUSD>860640.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SUSANVILLE CA NATURAL GAS REVE</name>
        <lei>N/A</lei>
        <title>City of Susanville CA Natural Gas Revenue</title>
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          <isin value="US869082AS64"/>
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        <balance>875000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <title>New Jersey Transportation Trust Fund Authority</title>
        <cusip>646136TK7</cusip>
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          <isin value="US646136TK77"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>177990.10000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-15</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KANE COOK &amp; DU PAGE CNTYS IL S</name>
        <lei>N/A</lei>
        <title>Kane Cook &amp; DuPage Counties School District No U-46 Elgin</title>
        <cusip>483836UZ3</cusip>
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          <isin value="US483836UZ37"/>
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        <curCd>USD</curCd>
        <valUSD>493925.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SUFFOLK CNTY NY</name>
        <lei>N/A</lei>
        <title>County of Suffolk NY</title>
        <cusip>86476PZP6</cusip>
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          <isin value="US86476PZP60"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>625775.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDIANA ST FIN AUTH REVENUE</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority</title>
        <cusip>455057NJ4</cusip>
        <identifiers>
          <isin value="US455057NJ44"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.90000000</annualizedRt>
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      <invstOrSec>
        <name>BELLEVUE WA CONVENTION CENTER</name>
        <lei>N/A</lei>
        <title>Bellevue Convention Center Authority</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-02-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>MISSISSIPPI ST DEV BANK SPL OB</name>
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        <title>Mississippi Development Bank</title>
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        <name>LA SALLE CNTY TX</name>
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        <name>Fidelity Treasury Only Portfolio</name>
        <lei>N/A</lei>
        <title>Fidelity Treasury Only Portfolio</title>
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          <isin value="US2338093006"/>
          <ticker value="FSIXX"/>
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        <name>CRAWFORD IL HOSP DIST</name>
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        <name>SUFFOLK CNTY NY</name>
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        <name>GRAND RIVER CO HOSP DIST</name>
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        <name>PITTSBURGH PA WTR &amp; SWR AUTH</name>
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          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PIMA CNTY AZ UNIF SCH DIST #20</name>
        <lei>N/A</lei>
        <title>Pima County Unified School District No 20 Vail</title>
        <cusip>721893ET8</cusip>
        <identifiers>
          <isin value="US721893ET87"/>
        </identifiers>
        <balance>1235000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1250202.85000000</valUSD>
        <pctVal>1.482967184837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MASSACHUSETTS ST</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
        <cusip>57582NYY5</cusip>
        <identifiers>
          <isin value="US57582NYY56"/>
        </identifiers>
        <balance>415000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>553365.15000000</valUSD>
        <pctVal>0.656391367754</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAINT LANDRY PARISH LA ROAD DI</name>
        <lei>N/A</lei>
        <title>St Landry Parish Road District No 1</title>
        <cusip>791023AG9</cusip>
        <identifiers>
          <isin value="US791023AG90"/>
        </identifiers>
        <balance>225000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>225490.50000000</valUSD>
        <pctVal>0.267472604139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MADISON CNTY IL CMNTY UNIT SCH</name>
        <lei>N/A</lei>
        <title>Madison County Community Unit School District No 7 Edwardsville</title>
        <cusip>557021JR4</cusip>
        <identifiers>
          <isin value="US557021JR46"/>
        </identifiers>
        <balance>275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>319902.00000000</valUSD>
        <pctVal>0.379461755637</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTH LAS VEGAS NV</name>
        <lei>N/A</lei>
        <title>City of North Las Vegas NV</title>
        <cusip>660393S83</cusip>
        <identifiers>
          <isin value="US660393S835"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>545365.00000000</valUSD>
        <pctVal>0.646901739792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RIO BLANCO CNTY CO SCH DIST #R</name>
        <lei>N/A</lei>
        <title>Rio Blanco County School District No Re-1 Meeker</title>
        <cusip>767000EZ1</cusip>
        <identifiers>
          <isin value="US767000EZ17"/>
        </identifiers>
        <balance>115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>147840.55000000</valUSD>
        <pctVal>0.175365689046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY</name>
        <lei>N/A</lei>
        <title>KY ST ECON DEV-A</title>
        <cusip>49126KKB6</cusip>
        <identifiers>
          <isin value="US49126KKB60"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>552545.00000000</valUSD>
        <pctVal>0.655418521199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW HOPE CULTURAL EDU FACS FIN</name>
        <lei>N/A</lei>
        <title>New Hope Cultural Education Facilities Finance Corp</title>
        <cusip>64542YBA3</cusip>
        <identifiers>
          <isin value="US64542YBA38"/>
        </identifiers>
        <balance>155000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>175608.80000000</valUSD>
        <pctVal>0.208303866663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HARTFORD CT</name>
        <lei>N/A</lei>
        <title>City of Hartford CT</title>
        <cusip>416415JF5</cusip>
        <identifiers>
          <isin value="US416415JF50"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23636.40000000</valUSD>
        <pctVal>0.028037054600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DERBY CT</name>
        <lei>N/A</lei>
        <title>City of Derby CT</title>
        <cusip>249739XH1</cusip>
        <identifiers>
          <isin value="US249739XH13"/>
        </identifiers>
        <balance>370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>435919.20000000</valUSD>
        <pctVal>0.517079183462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOUTH WHITTIER CA SCH DIST</name>
        <lei>N/A</lei>
        <title>South Whittier School District</title>
        <cusip>840704HF0</cusip>
        <identifiers>
          <isin value="US840704HF04"/>
        </identifiers>
        <balance>215000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244166.90000000</valUSD>
        <pctVal>0.289626199719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-03-25</ncom:dateSigned>
      <ncom:nameOfApplicant>IndexIQ Active ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Adefolahan Oyefeso</ncom:signature>
      <ncom:signerName>Adefolahan Oyefeso</ncom:signerName>
      <ncom:title>Director and Vice President, IndexIQ</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
