Best Muni Bond CEF Funds
If you invest in municipal bond, you probably invest in closed end funds. Closed end funds are popular for tax free income seeker. The municipal bond closed end funds are among the largest assets in the whole sector closed end funds. These municipal bond funds provide tax free income for investors. The yield is exempt from federal income tax rate and possibly state income tax & local income tax.Whether you should invest in these top performing municipal bond closed end funds, you need to do details research. You can buy these CEF funds using your brokerage for your investment account, retirement account, etc. These investment funds are managed actively by the fund manager(s). Find the fund review below. The funds are sorted based on its performance in 2014 (up to January 20, 2014).
10 YTD top performing municipal bond closed end funds 2014 are:
- Federated Premier Muni Income
- EV Municipal Income Term Trust
- BlackRock Muni Target Term Trust
- PIMCO Municipal Income
- DWS Strategic Muni Income
- BlackRock PA Strategic Muni
- Nuveen Premier Muni Income
- BlackRock MuniHoldings Inv Qty
- Pioneer Muni High Inc Adv
- BlackRock MuniVest
Federated Premier Municipal Income Fund (FMN)
Federated Premier Municipal Income Fund utilizes its assets to purchase investment grade tax exempt debt securities. The total assets are $127 million. Current expense ratio fee is 1.84%. The fund’s managers are Lee Cunningham II and RJ Gallo. The current shares price is $14.29. The current high yield is 6.34%.This YTD top performing municipal bond closed end fund is ranked with 5 star rating by Morningstar. The year-to-date return is 8.26% in 2014. This best fund has returned 12.12% over the past 3 year and 14.26% over the past 5 year.
EV Municipal Income Term Trust (ETX)
EV Municipal Income Term Trust is a new muni bond closed end fund. This best fund is incepted in March 2013. The fund manager is Thomas M Metzold. The current total net assets are $172 million. The current market price is trading 6.37% discount to its net asset value (NAV). The tax free yield is currently stood at 5.40%. The YTD return is 7.81%.BlackRock Muni Target Term Trust (BTT)
BlackRock Muni Target Term Trust is one of the popular municipal bond closed end fund. With total assets of $2.1 billion, it uses its assets to buy high quality muni bonds around the U.S. The annual expense ratio fee is 1.02%. The % structural leverage is 36.20%. In 2013, the annual return is -22.37%.This top performing muni bond closed end fund has YTD return of 7.80% in 2014. The top 2 bond sectors are long duration municipal debts (78.49%), and municipal debt (19%).
PIMCO Municipal Income Fund (PMF)
Ranked with 5 stars rating, PIMCO Municipal Income Fund is managed by Joe Deane since 2001.The total net assets are $492 million. The fund has an effective leverage of 40.35%. This fund has an average duration of 16.49 years. The total holdings are 170.This best performing municipal bond closed end fund has a 5 year annualized return of 11.74%. The YTD return is 7.25%. The fund performance for the past 3 years is as follows:
- Year 2013: -16.13%
- Year 2012: 17.91%
- Year 2011: 21.82%
Fund Performance
| No | Fund Name | Ticker | Fund Type | NAV Price | Yield | Market Cap | YTD Return % |
|---|---|---|---|---|---|---|---|
| 1 | Federated Premier Muni Income | FMN | Tax-Free Income-National | $14.24 | 6.34% | $88M | 8.26% |
| 2 | EV Municipal Income Term Trust | ETX | Tax-Free Income-National | $16.81 | 5.40% | $161M | 7.81% |
| 3 | BlackRock Muni Target Term Tr | BTT | Tax-Free Income-National | $19.64 | 6.13% | $1,294M | 7.80% |
| 4 | PIMCO Municipal Income | PMF | Tax-Free Income-National | $11.91 | 7.48% | $330M | 7.25% |
| 5 | DWS Strategic Muni Income | KSM | Tax-Free Income-National | $12.63 | 7.09% | $145M | 6.83% |
| 6 | BlackRock PA Strategic Muni | BPS | Tax-Free Income-Pennsylvania | $13.53 | 6.37% | $25M | 6.63% |
| 7 | Nuveen Premier Muni Income | NPF | Tax-Free Income-National | $14.10 | 6.59% | $261M | 6.59% |
| 8 | BlackRock MuniHoldings Inv Qty | MFL | Tax-Free Income-National | $14.11 | 6.47% | $501M | 6.48% |
| 9 | Pioneer Muni High Inc Adv | MAV | Tax-Free Income-High Yield | $11.70 | 8.42% | $318M | 6.40% |
| 10 | BlackRock MuniVest | MVF | Tax-Free Income-National | $9.56 | 7.20% | $603M | 6.37% |
| 11 | Nuveen Dividend Advantage | NAD | Tax-Free Income-National | $14.40 | 6.67% | $523M | 6.31% |
| 12 | BlackRock VA Municipal Bond | BHV | Tax-Free Income-Virginia | $14.86 | 5.63% | $24M | 6.29% |
| 13 | American Municipal Income | XAA | Tax-Free Income-National | $14.22 | 6.96% | $79M | 6.24% |
| 14 | Nuveen AMT-Free Municipal Inc | NEA | Tax-Free Income-National | $13.83 | 6.47% | $1,003M | 6.14% |
| 15 | EV CA Municipal Income | CEV | Tax-Free Income-California | $12.80 | 6.63% | $86M | 6.12% |
| 16 | EV Municipal Income | EVN | Tax-Free Income-National | $10.83 | 8.14% | $252M | 5.99% |
| 17 | PIMCO Municipal Income II | PML | Tax-Free Income-National | $11.12 | 6.95% | $684M | 5.88% |
| 18 | EV PA Municipal Bond | EIP | Tax-Free Income-Pennsylvania | $13.06 | 6.36% | $36M | 5.83% |
| 19 | Nuveen Dividend Advantage 2 | NXZ | Tax-Free Income-National | $14.61 | 6.25% | $394M | 5.75% |
| 20 | Nuveen Select Quality Muni | NQS | Tax-Free Income-National | $14.32 | 6.12% | $459M | 5.71% |
| 21 | PIMCO CA Municipal Income | PCQ | Tax-Free Income-California | $13.12 | 6.76% | $254M | 5.71% |
| 22 | PIMCO NY Municipal Income II | PNI | Tax-Free Income-New York | $10.11 | 7.40% | $117M | 5.68% |
| 23 | BlackRock Strategic Muni | BSD | Tax-Free Income-National | $13.32 | 6.97% | $93M | 5.65% |
| 24 | Putnam Managed Muni Income | PMM | Tax-Free Income-National | $7.41 | 6.66% | $402M | 5.57% |
| 25 | PIMCO Municipal Income III | PMX | Tax-Free Income-National | $9.70 | 8.02% | $340M | 5.55% |
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