List of Investment Grade Municipal Bond Closed-end Funds (CEFs)

These are 97 closed-end funds that focus on investment grade, non-taxable municipal bonds.
We are comparing returns to MUB, the iShares National Muni Bond ETF, because it is the oldest ETF that tracks a broad market municipal bond index.
You might want to browse these CEFs.

SymbolDescriptionInception DateFeesLeverage FactorMarket CapCurrent YieldHistorical Average YieldLifetime total return (dividends not reinvested)MUB total return same periodLifetime total return differenceLifetime total return difference per yearLifetime Sharpe ratioMUB Sharpe ratio same periodSharpe differenceActions
IIMInvesco Value Municipal Income Trust CEF10/27/19942.05%1.60$806,078,1534.45%6.23%114.03%57.92%56.11%4.00%0.750.81-0.06Analyze
MMUWestern Asset Managed Municipals Fund Inc. CEF07/17/19921.68%1.42$594,139,5594.70%6.49%112.85%57.92%54.93%3.91%0.700.81-0.12Analyze
MMDMainStay DefinedTerm Municipal Opportunities Fund CEF06/27/20122.11%1.59$620,769,4974.53%5.84%65.09%29.68%35.41%3.84%0.800.780.03Analyze
KTFDeutsche Municipal Income Trust CEF06/30/19891.88%1.50$485,071,5064.32%6.59%109.22%57.92%51.30%3.65%0.620.81-0.19Analyze
PMOPutnam Municipal Opportunities Trust CEF10/27/19941.12%1.43$484,698,6384.85%6.68%107.12%57.92%49.20%3.50%0.770.81-0.05Analyze
MQYBlackrock MuniYield Quality Fund CEF10/27/19942.05%1.66$511,410,9104.78%6.70%106.58%57.92%48.66%3.47%0.720.81-0.10Analyze
NBHNeuberger Berman Intermediate Municipal Fund Inc. CEF09/25/20022.29%1.60$310,683,3844.57%5.42%106.46%57.92%48.54%3.46%0.570.81-0.24Analyze
NKXNuveen California AMT-Free Quality Municipal Income Fund CEF09/04/20012.24%1.58$786,461,5283.99%5.28%106.03%57.92%48.11%3.43%0.550.81-0.27Analyze
MQTBlackrock MuniYield Quality Fund II CEF10/27/19942.10%1.66$332,956,2134.41%7.11%104.86%57.92%46.94%3.34%0.700.81-0.11Analyze
MHDBlackrock MuniHoldings Fund CEF05/27/19972.16%1.55$241,281,0804.28%6.52%102.21%57.92%44.29%3.15%0.600.81-0.22Analyze
MVTBlackrock MuniVest Fund II CEF10/27/19942.11%1.58$345,786,3664.37%6.84%101.41%57.92%43.49%3.10%0.680.81-0.13Analyze
NEVNuveen Enhanced Municipal Value Fund CEF09/25/20091.14%1.33$414,670,1305.79%6.05%81.85%44.92%36.93%3.08%0.630.87-0.24Analyze
PCQPIMCO California Municipal Income Fund CEF06/27/20011.60%1.94$353,550,5274.22%6.05%100.62%57.92%42.70%3.04%0.570.81-0.25Analyze
MYCBlackrock MuniYield California Fund CEF03/16/19922.26%1.72$328,146,6483.38%6.27%99.90%57.92%41.98%2.99%0.580.81-0.23Analyze
MUEBlackrock MuniHoldings Quality Fund II CEF03/09/19992.20%1.62$328,352,6664.18%5.92%99.65%57.92%41.73%2.97%0.530.81-0.29Analyze
MNPWestern Asset Municipal Partners Fund Inc. CEF01/25/19931.87%1.53$155,699,3894.45%5.88%98.82%57.92%40.90%2.91%0.620.81-0.19Analyze
MFLBlackrock MuniHoldings Investment Quality Fund CEF09/29/19972.41%1.68$572,990,6653.87%6.10%97.93%57.92%40.01%2.85%0.560.81-0.25Analyze
MCABlackrock MuniYield California Quality Fund CEF10/27/19942.22%1.73$550,491,4724.04%6.48%95.38%57.92%37.46%2.67%0.680.81-0.14Analyze
NMSNuveen Minnesota Quality Municipal Income Fund CEF10/08/20142.40%1.69$93,645,7413.85%4.73%41.56%23.04%18.52%2.67%0.580.94-0.36Analyze
FMNFederated Premier Municipal Income Fund CEF12/20/20021.91%1.66$181,235,3194.36%6.00%94.57%57.92%36.65%2.61%0.510.81-0.30Analyze
MUCBlackrock MuniHoldings California Quality Fund CEF03/02/19982.29%1.67$653,989,6044.12%5.72%94.43%57.92%36.51%2.60%0.550.81-0.26Analyze
NAZNuveen Arizona Quality Municipal Income Fund CEF10/27/19941.94%1.57$183,368,1413.78%5.61%93.58%57.92%35.66%2.54%0.600.81-0.22Analyze
DMFDreyfus Municipal Income, Inc. CEF11/25/19911.18%1.31$202,320,2814.32%7.18%93.39%57.92%35.47%2.53%0.570.81-0.24Analyze
MIYBlackrock MuniYield Michigan Quality Fund CEF10/27/19942.16%1.64$461,716,7794.30%6.57%92.99%57.92%35.07%2.50%0.690.81-0.12Analyze
BTABlackrock Long-Term Municipal Advantage Trust CEF02/24/20062.33%1.64$199,107,9804.22%14.49%92.92%57.92%35.00%2.49%0.530.81-0.28Analyze
EOTEaton Vance National Municipal Opportunities Trust CEF05/27/20090.96%1.07$348,265,6413.61%5.15%80.97%50.96%30.01%2.44%0.620.89-0.27Analyze
NXRNuveen Select Tax-Free Income Portfolio 3 CEF10/27/19940.33%1.01$236,939,9843.05%5.44%92.00%57.92%34.08%2.43%0.770.81-0.04Analyze
MYDBlackrock MuniYield Fund CEF12/19/19912.00%1.56$723,994,7394.36%6.75%91.65%57.92%33.73%2.40%0.630.81-0.18Analyze
MYIBlackrock MuniYield Quality Fund III CEF04/21/19922.11%1.61$1,022,260,2154.12%6.26%90.83%57.92%32.91%2.34%0.600.81-0.21Analyze
MYJBlackrock MuniYield New Jersey Fund CEF05/18/19922.25%1.63$230,676,4504.71%6.00%89.49%57.92%31.57%2.25%0.590.81-0.23Analyze
NACNuveen California Quality Municipal Income Fund CEF05/26/19991.97%1.56$2,286,813,9324.13%6.08%88.94%57.92%31.02%2.21%0.540.81-0.27Analyze
MVFBlackrock MuniVest Fund CEF02/22/19902.16%1.55$641,231,7094.07%7.01%88.82%57.92%30.90%2.20%0.640.81-0.18Analyze
MUJBlackrock MuniHoldings New Jersey Quality Fund CEF03/12/19982.23%1.62$481,858,7634.74%5.78%87.74%57.92%29.82%2.12%0.580.81-0.24Analyze
MYNBlackrock MuniYield New York Quality Fund CEF03/16/19922.19%1.63$572,817,8704.27%6.06%87.67%57.92%29.75%2.12%0.590.81-0.23Analyze
MPABlackrock MuniYield Pennsylvania Quality Fund CEF10/27/19942.26%1.64$211,902,0334.17%6.57%87.54%57.92%29.62%2.11%0.670.81-0.14Analyze
BKNBlackrock Investment Quality Municipal Trust CEF02/23/19932.12%1.63$314,673,0784.42%6.35%87.32%57.92%29.40%2.09%0.590.81-0.23Analyze
NXJNuveen New Jersey Quality Municipal Income Fund CEF09/05/20011.78%1.49$652,526,5834.45%5.78%86.44%57.92%28.52%2.03%0.560.81-0.25Analyze
MHNBlackrock MuniHoldings New York Quality Fund CEF09/22/19972.36%1.64$461,065,2614.42%5.93%85.70%57.92%27.78%1.98%0.560.81-0.25Analyze
NUONuveen Ohio Quality Municipal Income Fund CEF10/17/19911.94%1.54$302,229,7583.76%5.51%85.34%57.92%27.42%1.95%0.580.81-0.23Analyze
BYMBlackrock Municipal Income Quality Trust CEF10/29/20022.23%1.63$419,859,7414.36%5.71%85.13%57.92%27.21%1.94%0.530.81-0.28Analyze
NUWNuveen AMT-Free Municipal Value Fund CEF02/25/20090.81%1.07$308,224,4392.73%4.65%78.20%54.24%23.96%1.91%0.610.93-0.32Analyze
MUIBlackrock Muni Intermediate Duration Fund CEF07/30/20032.17%1.63$612,740,2564.05%5.65%83.69%57.92%25.77%1.84%0.610.81-0.21Analyze
BLEBlackrock Municipal Income Trust II CEF07/26/20022.31%1.65$370,249,9694.75%6.25%83.08%57.92%25.16%1.79%0.530.81-0.29Analyze
NQPNuveen Pennsylvania Quality Municipal Income Fund CEF02/21/19912.05%1.59$561,247,3284.87%5.98%82.12%57.92%24.20%1.72%0.570.81-0.25Analyze
NBWNeuberger Berman California Intermediate Municipal Fund CEF09/25/20022.70%1.64$81,267,2843.67%5.01%81.54%57.92%23.62%1.68%0.490.81-0.32Analyze
LEODreyfus Strategic Municipals, Inc. CEF01/02/20011.37%1.33$559,265,7604.69%11.69%81.20%57.92%23.28%1.66%0.580.81-0.23Analyze
NPVNuveen Virginia Quality Municipal Income Fund CEF10/27/19942.07%1.56$301,138,2873.54%5.41%80.86%57.92%22.94%1.63%0.590.81-0.23Analyze
NCANuveen California Municipal Value Fund CEF10/07/19870.56%1.01$304,506,4292.87%5.33%80.76%57.92%22.84%1.63%0.630.81-0.18Analyze
NMINuveen Municipal Income Fund CEF12/16/19880.79%1.00$108,940,8113.25%5.53%80.49%57.92%22.57%1.61%0.590.81-0.23Analyze
NANNuveen New York Quality Municipal Income Fund CEF05/26/19992.10%1.57$460,918,9004.19%5.78%79.43%57.92%21.51%1.53%0.550.81-0.26Analyze
NMTNuveen Massachusetts Quality Municipal Income Fund CEF10/27/19942.13%1.54$142,544,8483.62%5.58%79.40%57.92%21.48%1.53%0.630.81-0.18Analyze
NXPNuveen Select Tax-Free Income Portfolio CEF03/19/19920.27%1.01$282,817,0293.19%5.15%78.96%57.92%21.04%1.50%0.680.81-0.13Analyze
CXHMFS Investment Grade Municipal Trust CEF06/30/19892.33%1.58$93,562,2164.56%6.49%78.47%57.92%20.55%1.46%0.590.81-0.22Analyze
NXCNuveen California Select Tax-Free Income Portfolio CEF06/19/19920.33%1.01$102,900,9743.10%5.00%78.35%57.92%20.43%1.46%0.570.81-0.24Analyze
NUVNuveen Municipal Value Fund, Inc. CEF06/17/19870.52%1.02$2,394,949,6323.14%5.52%77.72%57.92%19.80%1.41%0.730.81-0.08Analyze
NOMNuveen Missouri Quality Municipal Income Fund CEF08/18/19952.54%1.57$37,390,8943.31%5.28%77.20%57.99%19.21%1.37%0.520.81-0.29Analyze
VFLDelaware Investments National Municipal Income Fund CEF08/18/19951.97%1.45$64,643,5384.34%6.03%76.85%57.92%18.93%1.35%0.570.81-0.24Analyze
VGMInvesco Trust for Investment Grade Municipals CEF02/19/19922.20%1.65$774,337,2274.57%6.68%76.49%57.92%18.57%1.32%0.620.81-0.19Analyze
DSMDreyfus Strategic Municipal Bond Fund, Inc. CEF01/11/19901.28%1.57$414,646,4774.29%6.70%76.18%57.92%18.26%1.30%0.570.81-0.24Analyze
PMLPIMCO Municipal Income Fund II CEF06/26/20021.30%1.87$947,585,1854.72%6.26%75.84%57.92%17.92%1.28%0.500.81-0.31Analyze
VKIInvesco Advantage Municipal Income Trust II CEF08/18/19952.25%1.65$571,319,2614.52%6.88%75.66%57.92%17.74%1.26%0.610.81-0.21Analyze
VPVInvesco Pennsylvania Value Municipal Income Trust CEF10/27/19942.37%1.58$318,362,7084.51%6.33%75.58%57.92%17.66%1.26%0.600.81-0.22Analyze
BFKBlackrock Municipal Income Trust CEF07/27/20010.62%1.62$697,575,6504.53%6.25%75.51%57.92%17.59%1.25%0.490.81-0.32Analyze
BTTBlackrock Municipal 2030 Target Term Trust CEF08/29/20121.76%1.52$1,845,835,8492.89%4.06%37.29%27.38%9.91%1.09%0.500.76-0.26Analyze
SBIWestern Asset Intermediate Muni Fund Inc. CEF03/17/19921.56%1.33$137,161,7483.62%5.39%73.16%57.92%15.24%1.09%0.610.81-0.20Analyze
DTFDTF Tax-Free Income CEF11/15/19912.29%1.57$125,850,5173.25%5.54%73.12%57.92%15.20%1.08%0.560.81-0.25Analyze
VMOInvesco Municipal Opportunity Trust CEF06/04/19922.21%1.65$945,825,8144.56%6.62%72.71%57.92%14.79%1.05%0.610.81-0.21Analyze
PMFPIMCO Municipal Income Fund CEF06/27/20011.37%1.85$395,736,6484.78%6.35%72.37%57.92%14.45%1.03%0.440.81-0.37Analyze
NXQNuveen Select Tax-Free Income Portfolio 2 CEF05/21/19920.32%1.01$277,751,2393.22%5.07%72.09%57.92%14.17%1.01%0.660.81-0.15Analyze
VKQInvesco Municipal Trust CEF11/21/19912.24%1.62$773,376,7594.54%6.54%71.42%57.92%13.50%0.96%0.540.81-0.28Analyze
EVNEaton Vance Municipal Income Trust CEF01/27/19991.33%1.53$562,083,7004.03%6.50%70.66%57.92%12.74%0.91%0.470.81-0.34Analyze
BHVBlackrock Virginia Municipal Bond Trust CEF04/26/20022.72%1.67$28,359,1582.97%4.96%69.84%57.92%11.92%0.85%0.470.81-0.34Analyze
IQIInvesco Quality Municipal Income Trust CEF10/27/19942.13%1.61$721,334,9914.55%7.12%69.49%57.92%11.57%0.82%0.720.81-0.10Analyze
PNFPIMCO New York Municipal Income Fund CEF06/27/20011.55%1.90$101,749,9343.95%5.90%67.84%57.92%9.92%0.71%0.410.81-0.41Analyze
NRKNuveen New York AMT-Free Quality Municipal Income Fund CEF11/22/20022.13%1.60$1,225,656,0214.12%5.20%67.36%57.92%9.44%0.67%0.480.81-0.33Analyze
NBONeuberger Berman New York Intermediate Municipal Fund CEF09/25/20022.69%1.65$67,834,2913.55%4.99%67.35%57.92%9.43%0.67%0.430.81-0.38Analyze
NIMNuveen Select Maturities Municipal Fund CEF10/27/19940.58%1.01$134,907,7353.22%4.97%66.05%57.92%8.13%0.58%0.570.81-0.24Analyze
CEVEaton Vance California Municipal Income Trust CEF01/27/19992.78%1.58$101,368,1014.02%5.60%65.66%57.92%7.74%0.55%0.420.81-0.40Analyze
BNYBlackrock New York Municipal Income Trust CEF07/27/20012.45%1.70$199,831,5404.77%5.83%65.42%57.92%7.50%0.53%0.520.81-0.30Analyze
BFZBlackrock California Municipal Income Trust CEF07/27/20012.41%1.63$471,666,5693.30%5.81%65.26%57.92%7.34%0.52%0.500.81-0.32Analyze
NXNNuveen New York Select Tax-Free Income Portfolio CEF06/19/19920.43%1.00$55,144,7613.09%4.85%65.03%57.92%7.11%0.51%0.530.81-0.28Analyze
NIQNuveen Intermediate Duration Quality Municipal Term Fund CEF02/08/20131.41%1.35$195,671,3313.29%3.74%29.31%25.47%3.84%0.45%0.500.78-0.29Analyze
NKGNuveen Georgia Quality Municipal Income Fund CEF09/26/20022.19%1.54$143,413,4073.92%4.86%64.15%57.92%6.23%0.44%0.420.81-0.40Analyze
NNYNuveen New York Municipal Value Fund CEF10/07/19870.60%1.02$02.95%5.33%63.74%57.92%5.82%0.41%0.670.81-0.15Analyze
VTNInvesco Trust For Investment Grade New York Municipals CEF05/13/19922.34%1.64$269,182,5464.06%6.34%63.49%57.92%5.57%0.40%0.540.81-0.28Analyze
VMMDelaware Investments Minnesota Municipal Income Fund II CEF08/18/19951.78%1.44$163,658,2693.04%5.70%63.05%57.92%5.13%0.37%0.610.81-0.20Analyze
EIMEaton Vance Municipal Bond Fund CEF08/28/20022.00%1.70$1,002,307,8534.66%6.08%62.18%57.92%4.26%0.30%0.490.81-0.33Analyze
VCVInvesco California Value Municipal Income Trust CEF10/27/19942.16%1.58$683,516,9844.00%6.47%62.17%57.92%4.25%0.30%0.600.81-0.21Analyze
VCFDelaware Investments Colorado Municipal Income Fund CEF08/18/19951.82%1.41$71,480,2454.00%5.62%62.08%57.92%4.16%0.30%0.610.81-0.21Analyze
MUBiShares National Muni Bond ETF09/07/20070.07%1.00$23,617,840,0001.89%2.85%57.92%57.92%0.00%0.00%0.810.810.00Analyze
PMXPIMCO Municipal Income Fund III CEF10/29/20021.39%1.85$418,507,1874.48%6.44%55.48%57.92%-2.44%-0.17%0.430.81-0.38Analyze
EVMEaton Vance California Municipal Bond Fund CEF08/28/20022.16%1.71$299,682,1254.53%6.00%49.72%57.92%-8.20%-0.58%0.030.81-0.78Analyze
ENXEaton Vance New York Municipal Bond Fund CEF08/28/20022.16%1.63$226,297,4924.45%5.46%49.33%57.92%-8.59%-0.61%0.400.81-0.42Analyze
OIAInvesco Municipal Income Opportunities Trust CEF10/05/19881.20%1.31$389,468,6204.64%6.34%48.54%57.92%-9.38%-0.67%0.520.81-0.29Analyze
PNIPIMCO New York Municipal Income Fund II CEF06/26/20021.63%1.85$131,632,7264.13%6.08%47.20%57.92%-10.72%-0.76%0.360.81-0.45Analyze
PZCPIMCO California Municipal Income Fund III CEF10/29/20021.65%1.92$251,704,5304.19%6.17%41.18%57.92%-16.74%-1.19%0.360.81-0.45Analyze
PYNPIMCO New York Municipal Income Fund III CEF10/29/20021.83%1.95$57,961,0574.20%5.93%34.41%57.92%-23.51%-1.67%0.320.81-0.50Analyze
PCKPIMCO California Municipal Income Fund II CEF06/26/20021.49%1.88$314,287,7914.03%6.47%27.81%57.92%-30.11%-2.14%0.340.81-0.48Analyze
TOTAL98

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