ETF Bond Type: Build America ETFs, or exchange-traded funds, are a type of investment that allows you to trade a basket of securities on an exchange. ETFs can include stocks, bonds, commodities, or a combination of asset classes. Build America ETFs are a type of ETF that invests in Build America bonds. These bonds are issued by state and local governments in order to finance infrastructure projects. The benefits of investing in Build America ETFs include the potential for higher yields than traditional bond ETFs, as well as the ability to receive federal tax breaks. However, there is also the risk that the underlying bonds will default. As with any investment, it is important to do your research before investing in ETFs.