The iShares High Yield Muni Active ETF (HIMU) is an actively managed portfolio holding approximately 900 municipal bonds.
The iShares High Yield Muni Active ETF (CBOE:HIMU) sits in one of the more specialized corners of the bond market: actively managed, below-investment-grade and non-rated municipal debt, wrapped in an ETF and pitched at investors hunting tax-advantaged income that ordinary muni funds cannot match.
For investors in higher federal tax brackets, the headline yield on a municipal bond fund understates the real value of the income.