Municipal bond closed-end funds
Municipal bond funds pay interest that is usually exempt from federal income tax. Compare tax-equivalent yields, not headline rates.
16 funds in the current view. Municipal CEFs hold tax-exempt bonds and are typically leveraged; the distribution rate is not a tax-exempt yield — parts of a distribution can be taxable. Tax characteristics are shown only where a fund reports them.
Filters
| Fund | State | Prem/discPrice vs. assets | Z (1y) | Rate (price)Payout rate | Rate (NAV)Payout rate on assets | LeverageBorrowing | ExpensesAnnual cost | NII coverageIncome covers payout | Net assetsFund size▼ | 1y NAV TR1y asset return |
|---|---|---|---|---|---|---|---|---|---|---|
| NAC Nuveen California Quality Municipal Income Fund | CA | 4.07% discount | -3.69 | 8.26% | 8.08% | — | 3.79% | — | $3B | -5.53% |
| NRK Nuveen New York AMT-Free Quality Municipal Income Fund | NY | 2.55% discount | +0.45 | 8.42% | 8.34% | — | 3.45% | — | $1.6B | -7.77% |
| NKX Nuveen California AMT-Free Quality Municipal Income Fund | CA | NAV unavailable | — | 8.14% | — | — | 3.31% | — | $1.1B | — |
| PCQ PIMCO California Municipal Income Fund | CA | 13.02% discount | -2.02 | 5.50% | 4.89% | — | — | — | $1B | -7.53% |
| VCV Invesco California Value Municipal Income Trust | CA | 0.67% discount | -2.76 | 8.66% | 8.72% | — | 3.54% | — | $821M | -7.42% |
| NAN Nuveen New York Quality Municipal Income Fund | NY | 4.67% discount | -3.09 | 8.23% | 8.11% | — | 3.43% | — | $606M | -6.36% |
| NPV Nuveen Virginia Quality Municipal Income Fund | VA | 7.51% discount | -2.48 | 7.78% | 7.29% | — | 3.70% | — | $367M | -7.05% |
| PNI PIMCO New York Municipal Income Fund II | NY | 12.23% discount | -1.73 | 5.68% | 5.09% | — | — | — | $328M | -7.66% |
| VPV Invesco Pennsylvania Value Municipal Income Trust | PA | 14.63% premium | +2.75 | 7.29% | 8.36% | — | — | — | $296M | -5.24% |
| NCA Nuveen California Municipal Value Fund | CA | 5.77% discount | -2.52 | 4.32% | 4.16% | — | 0.55% | — | $293M | -2.03% |
| NAZ Nuveen Arizona Quality Municipal Income Fund | AZ | 2.70% premium | -0.93 | 7.05% | 7.17% | — | 3.21% | — | $234M | -5.86% |
| NMT Nuveen Massachusetts Quality Municipal Income Fund | MA | 0.60% premium | -1.42 | 7.17% | 7.26% | — | 3.60% | — | $187M | -5.92% |
| NNY Nuveen New York Municipal Value Fund | NY | 5.68% discount | -1.09 | 4.54% | 4.28% | — | — | — | $164M | -2.82% |
| NMS Nuveen Minnesota Quality Municipal Income Fund | MN | 2.98% discount | -1.27 | 7.47% | 7.28% | — | 3.66% | — | $124M | -7.58% |
| CEV Eaton Vance California Municipal Income Trust | CA | 3.40% premium | +3.11 | 5.83% | 5.99% | — | — | — | $118M | -5.58% |
| BHV BlackRock Virginia Municipal Bond Trust | VA | 13.55% premium | +1.24 | 4.74% | 5.40% | — | — | — | $29.1M | -9.03% |
Tax-equivalent yield calculator
Educational only. Enter your own assumptions. The calculator does not apply to a fund’s whole distribution automatically, does not know your state, the alternative minimum tax, or the taxable portion of any fund’s distributions, and is not tax advice. Brackets are not hard-coded.
Tax-equivalent yield
5.26%
= 4.00% exempt ÷ (1 − 24%) + 0.00% taxable component (assumed fully taxable, no state treatment applied)