2 July Investment Products Welcome to your Investment Products What is the main difference between municipal funds and mutual funds? Municipal funds are only offered to institutional investors, while mutual funds are available to retail investors. Municipal funds invest in municipal securities issued by state and local governments, while mutual funds invest in a variety of securities, including stocks, bonds, and other assets. Municipal funds are only available in certain regions of the United States, while mutual funds are available nationally. None What is a potential benefit of investing in a no-load mutual fund compared to a load mutual fund? No-load funds have lower expense ratios than load funds. No-load funds typically have higher returns than load funds. No-load funds offer better diversification than load funds. None Which of the following is a key risk associated with investing in municipal funds? Interest rate risk Credit risk Market risk None What is the primary advantage of investing in an exchange-traded fund (ETF) compared to a traditional mutual fund? ETFs are more tax-efficient than mutual funds. ETFs offer better diversification than mutual funds. ETFs have lower expense ratios than mutual funds. None Time's up