3 ETFs That Could Diversify Your Portfolio

Inflation cooled again last month after starting to decline in October.

The Labor Department reported that the Consumer Price Index (CPI) in November rose 7.1% increase year-over-year and was just 0.1% from the previous month.

Economists surveyed by Dow Jones expected prices to grow at an annual 7.3% and 0.3% over the prior month.

The favorable November inflation report kept the Fed on track to increase interest rates by a relatively smaller amount after four consecutive hikes of 75-basis-point magnitude.

In addition to the optimism surrounding the decline in the Fed rate hikes, December has proven to be a strong month for the stock market over the past 70 years. However, many experts still expect a mild recession next year.

Given the backdrop, it could be wise to take advantage of the uptrend in JPMorgan Ultra-Short Income ETF (JPST)IQ MacKay Municipal Intermediate ETF (MMIT), and VanEck Long Muni ETF (MLN) to diversify your portfolio this month.

JPMorgan Ultra-Short Income ETF (JPST)

JPST is an actively managed, ultra-short-term, broad-market bond fund that aims to maximize income and preserve capital.

The fund makes investments in fixed-rate, variable-rate, and floating-rate debt, including corporate issues, asset-backed securities, and debt pertaining to mortgages, as well as U.S. government and agency debt, including treasury securities.

JPST has $22.76 billion in assets under management. The fund has a total of…

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