Macquarie Group (ASX:MQG) subsidiary Macquarie Asset Management launched the Macquarie National High-Yield Municipal Bond ETF, expanding its active exchange-traded fund platform, according to a statement Friday.

The Macquarie National High-Yield Municipal Bond ETF is Macquarie Asset Management's second actively managed municipal bond ETF, following Macquarie Tax-Free USA Short Term ETF, the statement said.

Macquarie Group shares fell nearly 3% in morning trade Friday.