(Bloomberg) — Rockefeller Asset Management is the latest money manager to benefit from the muni ETF boom.

The New York-based division of Rockefeller Capital Management is launching the first actively managed fixed income exchange-traded funds. The products, which will be managed by a trio of portfolio managers who they joined earlier this year from Invesco Ltd., will focus on lower-rate bonds.

There are now more than 100 muni ETFs with a total of $131 billion as asset managers scramble to capture the money that has flowed into the low-cost, easy-to-trade products. Goldman Sachs Asset Management and PGIM have launched new funds this year.

Demand has been particularly strong for high-yield muni bonds. The securities have also been outperformed by high-yield US corporate bonds so far this year, returning more than 6%, according to Bloomberg indexes.

“We believe that higher yielding municipalities represent a really compelling asset class,” said Alex Petrone, director of fixed income at Rockefeller Asset Management. She said securities have a low correlation with stocks, meaning they can provide a buffer for investors when there is weakness in the stock market.

Scott Cottier, Mark DeMitry and Michael Camarella, who have previously assisted oversee high yield muni funds at Invesco, will manage the funds.

The Rockefeller Opportunistic Municipal Bond ETF, which will trade under the ticker symbol RMOP, will typically invest at least 50% of its total assets in municipal bonds that have a credit rating of BBB+ or Baa1 or lower.

The company is also launching the Rockefeller California Municipal Bond ETF and the Rockefeller New York Municipal Bond ETF, which will invest in tax-exempt bonds in those states. These funds are likely to attract investors looking to shield their income from high state taxes.

These two funds can invest up to 25% of their assets in muni bonds that are below investment grade.