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          <maturityDt>2033-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isin value="US452152Q203"/>
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          <maturityDt>2028-11-01</maturityDt>
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        <isRestrictedSec>N</isRestrictedSec>

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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SALES TAX SECURITIZATION CORP</name>
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          <isin value="US79467BCV53"/>
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        <curCd>USD</curCd>
        <valUSD>631005.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>PROVIDENCE RI PUBLIC BLDGS AUT</name>
        <lei>N/A</lei>
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          <isin value="US74381MBR51"/>
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        <curCd>USD</curCd>
        <valUSD>321397.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SUFFOLK CNTY NY</name>
        <lei>N/A</lei>
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          <isin value="US86476PWC84"/>
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        <curCd>USD</curCd>
        <valUSD>452312.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BENICIA CA UNIF SCH DIST</name>
        <lei>N/A</lei>
        <title>Benicia Unified School District</title>
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          <isin value="US082023LQ32"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>295875.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>DELAWARE ST ECON DEV AUTH REVE</name>
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          <isin value="US246387SH86"/>
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        <curCd>USD</curCd>
        <valUSD>240236.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MICHIGAN ST FIN AUTH REVENUE</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>Michigan Finance Authority</title>
        <cusip>59447TUU5</cusip>
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          <isin value="US59447TUU59"/>
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        <balance>235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>298151.55000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FORT BEND CNTY TX MUNI UTILITY</name>
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        <title>Fort Bend County Municipal Utility District No 215</title>
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          <isin value="US34683NCE04"/>
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        <curCd>USD</curCd>
        <valUSD>141940.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SACRAMENTO CITY CA UNIF SCH DI</name>
        <lei>N/A</lei>
        <title>Sacramento City Unified School District/CA</title>
        <cusip>785870RH1</cusip>
        <identifiers>
          <isin value="US785870RH13"/>
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        <balance>305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>294877.05000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK CITY NY TRANSITIONAL</name>
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        <title>New York City Transitional Finance Authority Building Aid Revenue</title>
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          <isin value="US64972HY552"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>191565.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>WISCONSIN ST HLTH &amp; EDUCTNL FA</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-15</maturityDt>
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        <name>CHICAGO IL PARK DIST</name>
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          <maturityDt>2031-11-15</maturityDt>
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        <name>PORT NEW ORLEANS LA BRD OF COM</name>
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        <name>SANGAMON LOGAN &amp; MENARD CNTYS</name>
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        <name>CALIFORNIA ST</name>
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        <name>NEW YORK ST LIBERTY DEV CORP L</name>
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        <name>UNIV OF CENTRAL ARKANSAS AR RE</name>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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          <isin value="US59261ACH86"/>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>NEW HAMPSHIRE ST BUSINESS FIN</name>
        <lei>N/A</lei>
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          <maturityDt>2030-04-01</maturityDt>
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      <invstOrSec>
        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
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      <invstOrSec>
        <name>NEW JERSEY ST TURNPIKE AUTH TU</name>
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        <curCd>USD</curCd>
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          <maturityDt>2024-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.82000000</annualizedRt>
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      <invstOrSec>
        <name>NORFOLK VA ARPT AUTH REVENUE</name>
        <lei>N/A</lei>
        <title>Norfolk Airport Authority/VA</title>
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          <isin value="US655857DW79"/>
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        <curCd>USD</curCd>
        <valUSD>185661.00000000</valUSD>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SYRACUSE NY</name>
        <lei>N/A</lei>
        <title>City of Syracuse NY</title>
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          <isin value="US8717027B62"/>
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        <curCd>USD</curCd>
        <valUSD>299942.50000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2032-05-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ATLANTIC CITY NJ</name>
        <lei>N/A</lei>
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        <cusip>048339SY2</cusip>
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          <isin value="US048339SY27"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36780.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CENTRL PLAINS ENERGY PROJ NE G</name>
        <lei>SVQOT7V5CPLIGNP5BE29</lei>
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          <isin value="US154871CT22"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>679794.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MAINE ST FIN AUTH LOAN REVENUE</name>
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        <title>Finance Authority of Maine</title>
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          <isin value="US56042TAV08"/>
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        <curCd>USD</curCd>
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        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WESTMINSTER CA SCH DIST</name>
        <lei>N/A</lei>
        <title>Westminster School District</title>
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          <isin value="US960621DK31"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
        <cusip>64990GH21</cusip>
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          <isCashCollateral>N</isCashCollateral>
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        <name>WILKINSBURG-PENN PA JT WTR AUT</name>
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        <title>Wilkinsburg-Penn Joint Water Authority/The</title>
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          <isin value="US968546LX72"/>
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          <maturityDt>2023-09-15</maturityDt>
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        <name>ARIZONA INDL DEV AUTH STUDENT</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority</title>
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          <isin value="US04052VAG59"/>
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        <balance>300000.00000000</balance>
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        <name>HOUSTON TX HOTEL OCCUPANCY TAX</name>
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          <isin value="US44237NFN75"/>
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          <maturityDt>2022-09-01</maturityDt>
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        <name>COLORADO ST HLTH FACS AUTH HOS</name>
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        <name>COLORADO ST HLTH FACS AUTH HOS</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <name>LOUISVILLE &amp; JEFFERSON CNTY KY</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2036-06-01</maturityDt>
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        <name>MATTESON IL</name>
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        <invCountry>US</invCountry>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BOZEMAN MT TAX INCR URBAN RENE</name>
        <lei>N/A</lei>
        <title>City of Bozeman MT</title>
        <cusip>103707BJ3</cusip>
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          <isin value="US103707BJ30"/>
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        <curCd>USD</curCd>
        <valUSD>202339.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOWN OF CICERO IL</name>
        <lei>N/A</lei>
        <title>TOWN OF CICERO IL</title>
        <cusip>171646RR5</cusip>
        <identifiers>
          <isin value="US171646RR58"/>
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        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>253913.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HARTFORD CT</name>
        <lei>N/A</lei>
        <title>City of Hartford CT</title>
        <cusip>416415KH9</cusip>
        <identifiers>
          <isin value="US416415KH97"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109972.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTH HOUSTON DEV CORP TX TAX</name>
        <lei>N/A</lei>
        <title>Greater Greenspoint Redevelopment Authority</title>
        <cusip>660027AP8</cusip>
        <identifiers>
          <isin value="US660027AP84"/>
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        <balance>370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>440866.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHOENIX AZ CIVIC IMPT CORP ARP</name>
        <lei>N/A</lei>
        <title>City of Phoenix Civic Improvement Corp</title>
        <cusip>71883MLA0</cusip>
        <identifiers>
          <isin value="US71883MLA08"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>599195.00000000</valUSD>
        <pctVal>1.002428397703</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</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>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BEAVER CNTY PA</name>
        <lei>N/A</lei>
        <title>County of Beaver PA</title>
        <cusip>074851RG3</cusip>
        <identifiers>
          <isin value="US074851RG32"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>354939.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MONROE CNTY NY INDL DEV AGY SC</name>
        <lei>N/A</lei>
        <title>Monroe County Industrial Development Corp</title>
        <cusip>610730CN1</cusip>
        <identifiers>
          <isin value="US610730CN12"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>585575.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-01</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALASKA ST INDL DEV &amp; EXPORT AU</name>
        <lei>N/A</lei>
        <title>Alaska Industrial Development &amp; Export Authority</title>
        <cusip>01170NAA9</cusip>
        <identifiers>
          <isin value="US01170NAA90"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500940.00000000</valUSD>
        <pctVal>0.838051855482</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CAMBRIA CNTY PA</name>
        <lei>N/A</lei>
        <title>County of Cambria PA</title>
        <cusip>132033JJ1</cusip>
        <identifiers>
          <isin value="US132033JJ10"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>289142.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <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>
        <cusip>56042TAW8</cusip>
        <identifiers>
          <isin value="US56042TAW80"/>
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        <balance>155000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>186841.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GRAND RIVER CO HOSP DIST</name>
        <lei>N/A</lei>
        <title>Grand River Hospital District</title>
        <cusip>386448EQ3</cusip>
        <identifiers>
          <isin value="US386448EQ33"/>
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        <balance>425000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500284.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHREVEPORT LA WTR &amp; SWR REVENU</name>
        <lei>N/A</lei>
        <title>City of Shreveport LA Water &amp; Sewer Revenue</title>
        <cusip>825485WM3</cusip>
        <identifiers>
          <isin value="US825485WM36"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>126044.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONNECTICUT ST SPL TAX OBLIG R</name>
        <lei>N/A</lei>
        <title>State of Connecticut Special Tax Revenue</title>
        <cusip>207758ZZ9</cusip>
        <identifiers>
          <isin value="US207758ZZ96"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>586765.00000000</valUSD>
        <pctVal>0.981633522940</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MADISON MACOUPIN ETC CNTYS ILC</name>
        <lei>N/A</lei>
        <title>Madison-Macoupin Etc Counties Community College District No 536/IL</title>
        <cusip>557738NG2</cusip>
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          <isin value="US557738NG21"/>
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        <balance>320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>392960.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTH HOUSTON DEV CORP TX TAX</name>
        <lei>N/A</lei>
        <title>Greater Greenspoint Redevelopment Authority</title>
        <cusip>660027AN3</cusip>
        <identifiers>
          <isin value="US660027AN37"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>419429.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MISSOURI ST PUBLIC UTILITIES C</name>
        <lei>N/A</lei>
        <title>Missouri Public Utilities Commission</title>
        <cusip>606374AP1</cusip>
        <identifiers>
          <isin value="US606374AP11"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500410.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GUAM GOVT WTRWKS AUTH WTR &amp; WS</name>
        <lei>N/A</lei>
        <title>GUAM WTRWKS AUT 5.25 7/33</title>
        <cusip>40065FAZ7</cusip>
        <identifiers>
          <isin value="US40065FAZ71"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>550255.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KELSEYVILLE CA UNIF SCH DIST</name>
        <lei>N/A</lei>
        <title>Kelseyville Unified School District</title>
        <cusip>488224DQ6</cusip>
        <identifiers>
          <isin value="US488224DQ61"/>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ARIZONA ST INDL DEV AUTH NATIO</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority</title>
        <cusip>04052FAM7</cusip>
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          <isin value="US04052FAM77"/>
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        <curCd>USD</curCd>
        <valUSD>684123.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST SACRAMENTO CA FING AUTH W</name>
        <lei>N/A</lei>
        <title>West Sacramento Financing Authority</title>
        <cusip>955657CW9</cusip>
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          <isin value="US955657CW92"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>301212.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
        <cusip>59259YE54</cusip>
        <identifiers>
          <isin value="US59259YE541"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>523610.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON ST CONVENTION CENTE</name>
        <lei>N/A</lei>
        <title>Washington State Convention Center Public Facilities District</title>
        <cusip>93976ACC4</cusip>
        <identifiers>
          <isin value="US93976ACC45"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>554005.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MONTANA FAC FIN AUTH HLTH FACS</name>
        <lei>N/A</lei>
        <title>Montana Facility Finance Authority</title>
        <cusip>61204MCK1</cusip>
        <identifiers>
          <isin value="US61204MCK18"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>431426.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UPTOWN DEV AUTH TX INCR CONTRA</name>
        <lei>N/A</lei>
        <title>Uptown Development Authority</title>
        <cusip>916856GK7</cusip>
        <identifiers>
          <isin value="US916856GK77"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>576680.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RACINE WI WTRWKS REVENUE</name>
        <lei>N/A</lei>
        <title>City of Racine WI Waterworks System Revenue</title>
        <cusip>750055MF9</cusip>
        <identifiers>
          <isin value="US750055MF94"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>296690.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PITTSBURGH PA WTR &amp; SWR AUTH</name>
        <lei>54930034DVH6W22T1E86</lei>
        <title>Pittsburgh Water &amp; Sewer Authority</title>
        <cusip>725304US6</cusip>
        <identifiers>
          <isin value="US725304US66"/>
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        <balance>550000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>729272.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>SAN ANTONIO TX ELEC &amp; GAS REVE</name>
        <lei>5493002G2FEH20Q4GQ04</lei>
        <title>City of San Antonio TX Electric &amp; Gas Systems Revenue</title>
        <cusip>7962535T5</cusip>
        <identifiers>
          <isin value="US7962535T52"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>284812.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORTH POCONO PA SCH DIST</name>
        <lei>N/A</lei>
        <title>North Pocono School District</title>
        <cusip>661684QP8</cusip>
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          <isin value="US661684QP88"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>608450.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
        <cusip>59259YD22</cusip>
        <identifiers>
          <isin value="US59259YD220"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>261735.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BIRMINGHAM AL ARPT AUTH ARPT R</name>
        <lei>N/A</lei>
        <title>Birmingham Airport Authority</title>
        <cusip>090888GR3</cusip>
        <identifiers>
          <isin value="US090888GR35"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>784662.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARICOPA CNTY AZ INDL DEV AUTH</name>
        <lei>N/A</lei>
        <title>Maricopa County Industrial Development Authority</title>
        <cusip>56681NCL9</cusip>
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          <isin value="US56681NCL91"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>360615.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUERTO RICO CONVENTION CENTER</name>
        <lei>N/A</lei>
        <title>Puerto Rico Convention Center District Authority</title>
        <cusip>745266BD7</cusip>
        <identifiers>
          <isin value="US745266BD78"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>59999.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST MUNI FIN AUTH ST</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13049YAZ4</cusip>
        <identifiers>
          <isin value="US13049YAZ43"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>477664.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>ROSEVILLE CA NATURAL GAS FIN A</name>
        <lei>549300UJZ7YWGGGM4856</lei>
        <title>Roseville Natural Gas Financing Authority</title>
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        <identifiers>
          <isin value="US777863AR24"/>
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        <balance>560000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>637543.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SPRING COVE PA SCH DIST</name>
        <lei>N/A</lei>
        <title>Spring Cove School District</title>
        <cusip>849513KC9</cusip>
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          <isin value="US849513KC95"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>540395.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUERTO RICO ELEC PWR AUTH PWR</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>Puerto Rico Electric Power Authority</title>
        <cusip>74526QCM2</cusip>
        <identifiers>
          <isin value="US74526QCM24"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25188.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARLINGTON TX SPL TAX REVENUE</name>
        <lei>N/A</lei>
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          <isin value="US04184RCV06"/>
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        <curCd>USD</curCd>
        <valUSD>495410.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>OXNARD CA WTR REVENUE</name>
        <lei>N/A</lei>
        <title>City of Oxnard CA Water System Revenue</title>
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          <isin value="US692056CG72"/>
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        <curCd>USD</curCd>
        <valUSD>743082.00000000</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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      <invstOrSec>
        <name>COATESVILLE PA AREA SCH DIST B</name>
        <lei>N/A</lei>
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          <isin value="US190693AC56"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>327759.90000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UTAH INFRASTRUCTURE AGY TELECO</name>
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        <title>Utah Infrastructure Agency</title>
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          <isin value="US917467AM47"/>
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        <balance>580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>584727.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTH CAROLINA ST PUBLIC SVC A</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
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        <cusip>837151RP6</cusip>
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          <isin value="US837151RP61"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>119478.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTH JERSEY NJ PORT CORP</name>
        <lei>N/A</lei>
        <title>South Jersey Port Corp</title>
        <cusip>838530QZ9</cusip>
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          <isin value="US838530QZ94"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>565675.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK ST URBAN DEV CORP REV</name>
        <lei>54930039Y2EMGXN6LM88</lei>
        <title>New York State Urban Development Corp</title>
        <cusip>650036AF3</cusip>
        <identifiers>
          <isin value="US650036AF37"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>666915.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LAS VEGAS NV CONVENTION &amp; VISI</name>
        <lei>N/A</lei>
        <title>Las Vegas Convention &amp; Visitors Authority</title>
        <cusip>51771FAT3</cusip>
        <identifiers>
          <isin value="US51771FAT30"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>289062.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BROWARD CNTY FL ARPT SYS REVEN</name>
        <lei>N/A</lei>
        <title>County of Broward FL Airport System Revenue</title>
        <cusip>114894RN0</cusip>
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          <isin value="US114894RN02"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>130952.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILLINOIS ST SALES TAX REVENUE</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>State of Illinois</title>
        <cusip>452227FB2</cusip>
        <identifiers>
          <isin value="US452227FB28"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>503470.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ERIE PA</name>
        <lei>N/A</lei>
        <title>City of Erie PA</title>
        <cusip>295407Q52</cusip>
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          <isin value="US295407Q525"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>464715.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OYSTER BAY NY</name>
        <lei>N/A</lei>
        <title>Town of Oyster Bay NY</title>
        <cusip>692160RP1</cusip>
        <identifiers>
          <isin value="US692160RP10"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>557265.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>SALT LAKE CITY UT ARPT REVENUE</name>
        <lei>N/A</lei>
        <title>Salt Lake City Corp Airport Revenue</title>
        <cusip>795576GX9</cusip>
        <identifiers>
          <isin value="US795576GX95"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>344225.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>EDGEFIELD CNTY SC SCH DIST</name>
        <lei>N/A</lei>
        <title>Edgefield County School District</title>
        <cusip>280029EF2</cusip>
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          <isin value="US280029EF20"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>632920.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>CONNECTICUT ST HLTH &amp; EDUCTNL</name>
        <lei>549300ZOQJ5U8YBS5Q35</lei>
        <title>Connecticut State Health &amp; Educational Facilities Authority</title>
        <cusip>20774YZ75</cusip>
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          <isin value="US20774YZ755"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>417354.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2033-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CICERO IL</name>
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        <title>Town of Cicero IL</title>
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          <isin value="US171646SD53"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>567243.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <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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        <name>NEW JERSEY ST</name>
        <lei>N/A</lei>
        <title>State of New Jersey</title>
        <cusip>646039XN2</cusip>
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          <isin value="US646039XN27"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>594990.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WILL CNTY IL SCH DIST #114 MAN</name>
        <lei>N/A</lei>
        <title>Will County School District No 114 Manhattan</title>
        <cusip>968838HK1</cusip>
        <identifiers>
          <isin value="US968838HK13"/>
        </identifiers>
        <balance>840000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>908695.20000000</valUSD>
        <pctVal>1.520209403177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>LOUISVILLE &amp; JEFFERSON CNTY KY</name>
        <lei>N/A</lei>
        <title>Louisville/Jefferson County Metropolitan Government</title>
        <cusip>54659LBQ6</cusip>
        <identifiers>
          <isin value="US54659LBQ68"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>597530.00000000</valUSD>
        <pctVal>0.999642921719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</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 POCONO PA SCH DIST</name>
        <lei>N/A</lei>
        <title>North Pocono School District</title>
        <cusip>661684QS2</cusip>
        <identifiers>
          <isin value="US661684QS28"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299015.00000000</valUSD>
        <pctVal>0.500239700497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</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>MUNDELEIN IL</name>
        <lei>N/A</lei>
        <title>Village of Mundelein IL</title>
        <cusip>626082JD4</cusip>
        <identifiers>
          <isin value="US626082JD41"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>118997.00000000</valUSD>
        <pctVal>0.199077048442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-15</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>Fidelity Treasury Only Portfolio</name>
        <lei>N/A</lei>
        <title>Fidelity Treasury Only Portfolio</title>
        <cusip>233809300</cusip>
        <identifiers>
          <isin value="US2338093006"/>
          <ticker value="FSIXX"/>
        </identifiers>
        <balance>2937298.15000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2937298.15000000</valUSD>
        <pctVal>4.913978050688</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MASSACHUSETTS ST SPL OBLG DEDI</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
        <cusip>576002BH1</cusip>
        <identifiers>
          <isin value="US576002BH15"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>298700.00000000</valUSD>
        <pctVal>0.499712718554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>2020-09-24</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>
