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      <invstOrSec>
        <name>PUERTO RICO ELEC PWR AUTH PWR</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COLORADO ST HLTH FACS AUTH HOS</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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          <isin value="US19648FJV76"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VIRIDIAN TX MUNI MGMT DIST</name>
        <lei>N/A</lei>
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          <isin value="US92823PKQ80"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST PUBLIC WKS BRD L</name>
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          <isin value="US13068XBM02"/>
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        <curCd>USD</curCd>
        <valUSD>246490.24000000</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>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTHERN IL UNIV REVENUES</name>
        <lei>N/A</lei>
        <title>NORTHERN ILLINOIS UNIVERSITY</title>
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          <isin value="US665245YX81"/>
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        <curCd>USD</curCd>
        <valUSD>814133.58000000</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>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NEW YORK ST DORM AUTH ST PERSO</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
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          <isin value="US64990FYF51"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>537971.55000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TEXAS ST TURNPIKE AUTH CENTRLT</name>
        <lei>N/A</lei>
        <title>Central Texas Turnpike System</title>
        <cusip>882762FE2</cusip>
        <identifiers>
          <isin value="US882762FE24"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>722112.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MISSOURI ST HLTH &amp; EDUCTNL FAC</name>
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          <isin value="US60637AFC18"/>
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        <valUSD>1094871.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>ILLINOIS ST</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>State of Illinois</title>
        <cusip>452152Q20</cusip>
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          <isin value="US452152Q203"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>300333.48000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>MARICOPA CNTY AZ INDL DEV AUTH</name>
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        <title>Maricopa County Industrial Development Authority</title>
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          <isin value="US56681NCL91"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>357125.94000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
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          <isin value="US59261ACH86"/>
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        <valUSD>594173.45000000</valUSD>
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          <maturityDt>2029-11-15</maturityDt>
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        <name>NEW JERSEY ST</name>
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          <maturityDt>2031-06-01</maturityDt>
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        <name>NEW YORK ST URBAN DEV CORP REV</name>
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        <title>New York State Urban Development Corp</title>
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          <isin value="US650036BY17"/>
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        <name>CONNECTICUT ST SPL TAX OBLIG R</name>
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        <name>LEWIS POINTE CO MET DIST</name>
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          <isin value="US528049AG47"/>
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        <name>MIAMI-DADE CNTY FL AVIATION RE</name>
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        <name>ARIZONA ST INDL DEV AUTH NATIO</name>
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        <name>RHODE ISLAND ST HLTH &amp; EDUCTNL</name>
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        <balance>500000.00000000</balance>
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      <invstOrSec>
        <name>BENICIA CA UNIF SCH DIST</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>296747.73000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>CAMERON PARISH LA SCH DIST #15</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLORIDA ST</name>
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          <isin value="US341150S430"/>
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        <curCd>USD</curCd>
        <valUSD>100780.31000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PORT NEW ORLEANS LA BRD OF COM</name>
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          <isin value="US734782CW32"/>
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        <curCd>USD</curCd>
        <valUSD>750379.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ESSEX CNTY NJ IMPT AUTH</name>
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        <title>Essex County Improvement Authority</title>
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          <isin value="US296806PD81"/>
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        <curCd>USD</curCd>
        <valUSD>330922.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>ESSEX CNTY NJ IMPT AUTH</name>
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          <isin value="US296806PB26"/>
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        <curCd>USD</curCd>
        <valUSD>226174.17000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LEWIS POINTE CO MET DIST</name>
        <lei>N/A</lei>
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          <isin value="US528049AD16"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>316584.03000000</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>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UPPER IL RIVER VLY DEV AUTH</name>
        <lei>N/A</lei>
        <title>Upper Illinois River Valley Development Authority</title>
        <cusip>91588TBR5</cusip>
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          <isin value="US91588TBR59"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>517732.07000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MORGANTOWN WV COMB UTILITY SYS</name>
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          <isin value="US61759CDV72"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>239602.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>HOUSTON TX WTR &amp; SWR SYS REVEN</name>
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        <title>City of Houston TX Combined Utility System Revenue</title>
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          <isin value="US4424365Q05"/>
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        <balance>465000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>452221.61000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>COATESVILLE PA AREA SCH DIST B</name>
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        <title>Coatesville Area School District Building Authority</title>
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          <isin value="US190693AC56"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>ROANOKE VA ECON DEV AUTH HOSPR</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CALIFORNIA ST MUNI FIN AUTH ST</name>
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        <title>California Municipal Finance Authority</title>
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          <isin value="US13049YAZ43"/>
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          <maturityDt>2031-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>KELSEYVILLE CA UNIF SCH DIST</name>
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        <title>Kelseyville Unified School District</title>
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          <isin value="US488224DN31"/>
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        <balance>150000.00000000</balance>
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        <valUSD>116036.85000000</valUSD>
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          <maturityDt>2031-08-01</maturityDt>
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      <invstOrSec>
        <name>KENDALL KANE &amp; WILL CNTYS IL C</name>
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        <title>Kendall Kane &amp; Will Counties Community Unit School District No 308</title>
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          <isin value="US488764SZ51"/>
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        <balance>450000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>KELSEYVILLE CA UNIF SCH DIST</name>
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        <balance>35000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>CICERO IL</name>
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        <title>Town of Cicero IL</title>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>564043.73000000</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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-01</maturityDt>
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      <invstOrSec>
        <name>NORTHERN IL UNIV REVENUES</name>
        <lei>N/A</lei>
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          <maturityDt>2026-10-01</maturityDt>
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        <name>MONTANA FAC FIN AUTH HLTH FACS</name>
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          <isin value="US61204MCK18"/>
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          <maturityDt>2024-06-01</maturityDt>
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        <name>IOWA ST UNIV SCIENCE &amp; TECHNOL</name>
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        <title>Iowa State University of Science &amp; Technology</title>
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          <isin value="US462575HA24"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MONROE CNTY NY INDL DEV AGY SC</name>
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          <maturityDt>2024-05-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MATTESON IL</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-01</maturityDt>
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        <name>Imperial Community College District</name>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
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        <name>IDAHO ST HSG &amp; FIN ASSN</name>
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        <name>MIAMI-DADE CNTY FL WTR &amp; SWR R</name>
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        <name>MASSACHUSETTS ST DEV FIN AGY R</name>
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        <name>UPTOWN DEV AUTH TX INCR CONTRA</name>
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        <name>MAINE ST FIN AUTH LOAN REVENUE</name>
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        <name>NEW ORLEANS LA AVIATION BRD SP</name>
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        <name>MASSACHUSETTS ST SPL OBLG DEDI</name>
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        <name>INDEPENDENT CITIES FIN AUTH CA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
        <lei>549300UTOO4X537XXG70</lei>
        <title>New Jersey Educational Facilities Authority</title>
        <cusip>6460666Q8</cusip>
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          <isin value="US6460666Q86"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>356032.59000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</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>
      <invstOrSec>
        <name>ROSEVILLE CA NATURAL GAS FIN A</name>
        <lei>549300UJZ7YWGGGM4856</lei>
        <title>Roseville Natural Gas Financing Authority</title>
        <cusip>777863AR2</cusip>
        <identifiers>
          <isin value="US777863AR24"/>
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        <balance>560000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>630801.64000000</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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
        <lei>549300UTOO4X537XXG70</lei>
        <title>New Jersey Educational Facilities Authority</title>
        <cusip>646066TW0</cusip>
        <identifiers>
          <isin value="US646066TW02"/>
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        <balance>470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>554804.03000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ESSEX CNTY NJ IMPT AUTH</name>
        <lei>N/A</lei>
        <title>Essex County Improvement Authority</title>
        <cusip>296806PC0</cusip>
        <identifiers>
          <isin value="US296806PC09"/>
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        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232229.78000000</valUSD>
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        <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>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>SOUTH JERSEY NJ PORT CORP</name>
        <lei>N/A</lei>
        <title>South Jersey Port Corp</title>
        <cusip>838530QZ9</cusip>
        <identifiers>
          <isin value="US838530QZ94"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>599258.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</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>NEW JERSEY ST TRANSPRTN TRUST</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
        <cusip>646136TK7</cusip>
        <identifiers>
          <isin value="US646136TK77"/>
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        <balance>690000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>678757.97000000</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>2024-12-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>PROVIDENCE RI PUBLIC BLDGS AUT</name>
        <lei>N/A</lei>
        <title>Providence Public Building Authority</title>
        <cusip>74381MBR5</cusip>
        <identifiers>
          <isin value="US74381MBR51"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>308629.18000000</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>2032-06-15</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>S WSTRN IL DEV AUTH</name>
        <lei>549300B1KLLJ8NU5XK71</lei>
        <title>Southwestern Illinois Development Authority</title>
        <cusip>84552YRC7</cusip>
        <identifiers>
          <isin value="US84552YRC74"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299310.30000000</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>2033-04-15</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>NORFOLK VA ARPT AUTH REVENUE</name>
        <lei>N/A</lei>
        <title>Norfolk Airport Authority/VA</title>
        <cusip>655857DW7</cusip>
        <identifiers>
          <isin value="US655857DW79"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>191282.37000000</valUSD>
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        <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>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>HAZLE TWP PA MUNI AUTH SWR REV</name>
        <lei>N/A</lei>
        <title>Hazle Township Municipal Authority</title>
        <cusip>421793AU4</cusip>
        <identifiers>
          <isin value="US421793AU45"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>268998.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</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>535870.85000000</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>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK CITY NY TRANSITIONAL</name>
        <lei>N/A</lei>
        <title>New York City Transitional Finance Authority Building Aid Revenue</title>
        <cusip>64972HY55</cusip>
        <identifiers>
          <isin value="US64972HY552"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>189257.22000000</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>2033-07-15</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>
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          <isin value="US745266BD78"/>
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        <curCd>USD</curCd>
        <valUSD>61128.94000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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          <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>CHICAGO IL O'HARE INTERNATIONA</name>
        <lei>N/A</lei>
        <title>Chicago O'Hare International Airport</title>
        <cusip>167593VK5</cusip>
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          <isin value="US167593VK50"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>119408.33000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FOREST HILLS PA SCH DIST</name>
        <lei>549300L67W88EBKVE880</lei>
        <title>Forest Hills School District</title>
        <cusip>345802LP5</cusip>
        <identifiers>
          <isin value="US345802LP56"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101154.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063CX54</cusip>
        <identifiers>
          <isin value="US13063CX548"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>582919.35000000</valUSD>
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        <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>4.00000000</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>TEXAS ST MUNI GAS ACQUISITION&amp;</name>
        <lei>0UDITKOYW0YKG3BBP242</lei>
        <title>Texas Municipal Gas Acquisition &amp; Supply Corp III</title>
        <cusip>88256HAX6</cusip>
        <identifiers>
          <isin value="US88256HAX61"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>268681.18000000</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>2022-12-15</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>GRAND RIVER CO HOSP DIST</name>
        <lei>N/A</lei>
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          <isin value="US386448EQ33"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-12-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN ST FIN AUTH REVENUE</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>Michigan Finance Authority</title>
        <cusip>59447TLW1</cusip>
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          <isin value="US59447TLW17"/>
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        <curCd>USD</curCd>
        <valUSD>1025222.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTH POCONO PA SCH DIST</name>
        <lei>N/A</lei>
        <title>North Pocono School District</title>
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          <isin value="US661684QS28"/>
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        <curCd>USD</curCd>
        <valUSD>298346.15000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp</title>
        <cusip>650116EG7</cusip>
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          <isin value="US650116EG76"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>187745.36000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DAWSON RIDGE CO MET DIST #1</name>
        <lei>N/A</lei>
        <title>Dawson Ridge Metropolitan District No 1</title>
        <cusip>239427AH0</cusip>
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          <isin value="US239427AH00"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>114612.19000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-01</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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      <invstOrSec>
        <name>WEST HAVEN CT</name>
        <lei>N/A</lei>
        <title>City of West Haven CT</title>
        <cusip>953140T42</cusip>
        <identifiers>
          <isin value="US953140T420"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>148295.91000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</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>ESSEX CNTY NJ IMPT AUTH CHRT S</name>
        <lei>N/A</lei>
        <title>Essex County Improvement Authority</title>
        <cusip>29681CAG3</cusip>
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          <isin value="US29681CAG33"/>
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        <balance>415000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>473940.58000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW BRITAIN CT</name>
        <lei>549300MERJSUOPGAV271</lei>
        <title>City of New Britain CT</title>
        <cusip>642714BP3</cusip>
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          <isin value="US642714BP30"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>757369.86000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HOUSTON TX HOTEL OCCUPANCY TAX</name>
        <lei>N/A</lei>
        <title>City of Houston TX Hotel Occupancy Tax &amp; Special Revenue</title>
        <cusip>44237NFN7</cusip>
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          <isin value="US44237NFN75"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>138834.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-01</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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      <invstOrSec>
        <name>SUFFOLK CNTY NY</name>
        <lei>N/A</lei>
        <title>County of Suffolk NY</title>
        <cusip>86476PWC8</cusip>
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          <isin value="US86476PWC84"/>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>442848.18000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHOENIX AZ CIVIC IMPT CORP ARP</name>
        <lei>N/A</lei>
        <title>City of Phoenix Civic Improvement Corp</title>
        <cusip>71883MLA0</cusip>
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          <isin value="US71883MLA08"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>603402.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SYRACUSE NY</name>
        <lei>N/A</lei>
        <title>City of Syracuse NY</title>
        <cusip>8717027B6</cusip>
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          <isin value="US8717027B62"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>293618.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MISSOURI ST HLTH &amp; EDUCTNL FAC</name>
        <lei>549300IWTBCMX5JB3277</lei>
        <title>HEALTH &amp; EDUCATIONAL FACILITIES AUTHORITY OF THE STATE OF MISSOURI</title>
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          <isin value="US60637ATW26"/>
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        <curCd>USD</curCd>
        <valUSD>167819.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>SPRING COVE PA SCH DIST</name>
        <lei>N/A</lei>
        <title>Spring Cove School District</title>
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          <isin value="US849513KC95"/>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>TRIBOROUGH NY BRIDGE &amp; TUNNEL</name>
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          <isin value="US89602RED35"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-01</maturityDt>
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      <invstOrSec>
        <name>NEW HAMPSHIRE ST BUSINESS FIN</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
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          <isin value="US644684DR04"/>
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        <balance>675000.00000000</balance>
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          <maturityDt>2030-04-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>YOUNGSVILLE LA SALES TAX</name>
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        <title>City of Youngsville LA</title>
        <cusip>987733CE0</cusip>
        <identifiers>
          <isin value="US987733CE04"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>361071.48000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARIZONA INDL DEV AUTH STUDENT</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority</title>
        <cusip>04052VAH3</cusip>
        <identifiers>
          <isin value="US04052VAH33"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>408139.03000000</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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          <isin value="US46246K5H19"/>
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        <name>ARIZONA INDL DEV AUTH STUDENT</name>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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        <name>COOK CNTY IL TWP HIGH SCH DIST</name>
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        <name>TRIBOROUGH NY BRIDGE &amp; TUNNEL</name>
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        <name>WOODFORD LASALLE LIVINGSTON ET</name>
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        <name>ILLINOIS ST SALES TAX REVENUE</name>
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        <name>MICHIGAN ST FIN AUTH REVENUE</name>
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      <invstOrSec>
        <name>CENTRL FL EXPRESSWAY AUTH SR L</name>
        <lei>N/A</lei>
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          <isin value="US153476GT78"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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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>S WSTRN IL DEV AUTH</name>
        <lei>549300B1KLLJ8NU5XK71</lei>
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          <isin value="US84552YRA19"/>
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        <curCd>USD</curCd>
        <valUSD>543717.41000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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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>
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          <isin value="US51771FAT30"/>
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        <curCd>USD</curCd>
        <valUSD>297725.20000000</valUSD>
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        <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>
          <isDefault>N</isDefault>
          <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>
        <name>SOUTH CAROLINA ST PUBLIC SVC A</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
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          <isin value="US837151RP61"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>121195.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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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          <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>CAMERON PARISH LA SCH DIST #15</name>
        <lei>N/A</lei>
        <title>Cameron Parish School District No 15</title>
        <cusip>133565BY6</cusip>
        <identifiers>
          <isin value="US133565BY62"/>
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        <balance>290000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>353020.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</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>
        <name>FORT BEND CNTY TX MUNI UTILITY</name>
        <lei>N/A</lei>
        <title>Fort Bend County Municipal Utility District No 215</title>
        <cusip>34683NCE0</cusip>
        <identifiers>
          <isin value="US34683NCE04"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>138753.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>FLORIDA ST DEPT ENVRNMNTL PROT</name>
        <lei>N/A</lei>
        <title>Florida Department of Environmental Protection</title>
        <cusip>34160WYA6</cusip>
        <identifiers>
          <isin value="US34160WYA60"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>352731.09000000</valUSD>
        <pctVal>0.282826624095</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-01</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>
        <name>WISCONSIN ST HLTH &amp; EDUCTNL FA</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health &amp; Educational Facilities Authority</title>
        <cusip>97712D6Q4</cusip>
        <identifiers>
          <isin value="US97712D6Q45"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>550809.82000000</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>2033-02-15</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 CORP R</name>
        <lei>N/A</lei>
        <title>Monroe County Industrial Development Corp/NY</title>
        <cusip>61075TWK0</cusip>
        <identifiers>
          <isin value="US61075TWK05"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>440307.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN ST FIN AUTH REVENUE</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>Michigan Finance Authority</title>
        <cusip>59447TK85</cusip>
        <identifiers>
          <isin value="US59447TK853"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>606899.80000000</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>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>WSTRN CAROLINA NC UNIV</name>
        <lei>N/A</lei>
        <title>Western Carolina University</title>
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          <isin value="US957897KU41"/>
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        <balance>125000.00000000</balance>
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          <maturityDt>2021-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>WILL CNTY IL SCH DIST #114 MAN</name>
        <lei>N/A</lei>
        <title>Will County School District No 114 Manhattan</title>
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          <isin value="US968838HK13"/>
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        <valUSD>896422.13000000</valUSD>
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        <lei>N/A</lei>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <name>SANGAMON LOGAN &amp; MENARD CNTYS</name>
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        <name>TOWN OF CICERO IL</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>MADISON MACOUPIN ETC CNTYS ILC</name>
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        <name>BIRMINGHAM AL ARPT AUTH ARPT R</name>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isin value="US65830RCW79"/>
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        <curCd>USD</curCd>
        <valUSD>563120.40000000</valUSD>
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          <maturityDt>2024-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>LAKE ELSINORE CA SCH FING AUTH</name>
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          <isin value="US50964BDA98"/>
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        <curCd>USD</curCd>
        <valUSD>319475.70000000</valUSD>
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          <maturityDt>2033-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CONNECTICUT ST HLTH &amp; EDUCTNL</name>
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          <isin value="US20774YZ755"/>
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        <curCd>USD</curCd>
        <valUSD>422889.50000000</valUSD>
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          <maturityDt>2033-07-01</maturityDt>
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        <name>MASSACHUSETTS ST BAY TRANSPRTN</name>
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          <isin value="US575579E601"/>
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          <maturityDt>2021-12-01</maturityDt>
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        <name>PENNSYLVANIA ST HGR EDUCTNL FA</name>
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          <isin value="US70917RKC87"/>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>NORTH HOUSTON DEV CORP TX TAX</name>
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          <maturityDt>2033-09-01</maturityDt>
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        <name>WESTMINSTER CA SCH DIST</name>
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        <name>HOUSTON TX HGR EDU FIN CORP UN</name>
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        <name>MISSION TX</name>
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        <name>COLORADO ST HLTH FACS AUTH HOS</name>
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        <name>Fidelity Treasury Only Portfolio</name>
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          <maturityDt>2024-07-01</maturityDt>
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        <name>CHICAGO IL PARK DIST</name>
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        <name>BAY CNTY FL SCH BRD COPS</name>
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      <invstOrSec>
        <name>SPOKANE WA PUBLIC FACS DIST</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CAMBRIA CNTY PA</name>
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          <maturityDt>2033-04-01</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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        <name>CRYSTAL VLY CO MET DIST #2</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHAFFEY CA JT UNION HIGH SCH D</name>
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          <isin value="US157411QD40"/>
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        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>NEW YORK ST URBAN DEV CORP REV</name>
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          <isin value="US650036AF37"/>
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          <maturityDt>2036-03-15</maturityDt>
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        <name>CONNECTICUT ST SPL TAX OBLIG R</name>
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          <isin value="US207758ZZ96"/>
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          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>S WSTRN IL DEV AUTH</name>
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          <isin value="US84552YPK19"/>
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        <debtSec>
          <maturityDt>2024-10-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>OYSTER BAY NY</name>
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          <isin value="US692160RP10"/>
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          <maturityDt>2023-11-01</maturityDt>
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        <name>PHILADELPHIA PA ARPT REVENUE</name>
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        <name>TAYLOR MI</name>
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        <name>UTAH ST ASSOCIATED MUNI PWR SY</name>
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          <isin value="US917328RV04"/>
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        <name>ALASKA ST INDL DEV &amp; EXPORT AU</name>
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        <name>HOMEWOOD AL EDUCTNL BLDG AUTH</name>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
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          <maturityDt>2023-10-01</maturityDt>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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          <isin value="US59259YD220"/>
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          <maturityDt>2038-11-15</maturityDt>
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        <name>ATLANTIC CITY NJ BRD OF EDU</name>
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          <isin value="US048342GD54"/>
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          <maturityDt>2022-04-01</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>KENTUCKY ST ECON DEV FIN AUTH</name>
        <lei>N/A</lei>
        <title>Kentucky Economic Development Finance Authority</title>
        <cusip>49126PEU0</cusip>
        <identifiers>
          <isin value="US49126PEU03"/>
        </identifiers>
        <balance>335000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385013.76000000</valUSD>
        <pctVal>0.308711494558</pctVal>
        <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>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>
    </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>2021-06-22</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>
</edgarSubmission>
