Investment News’ David Hoffman is out with an in-depth piece largely suggesting that investors should avoid municipal bond ETFs.

Citing two ETF experts—Marvin Appel of Appel Asset Management and Jim Lowell of the Forbes ETF Advisor—Hoffman notes that muni bond ETFs can trade at substantial premiums and discounts when they are in or out of favor with investors.

Lowell and Appel also argue that the opaque nature of the muni bond market lends itself to active management.

Read the full article here.