Which Municipal Bonds - To Buy

Muni Yield1−Tax Ratethe fraction with numerator Muni Yield and denominator 1 minus Tax Rate end-fraction

: Ideal for investors seeking higher returns who can tolerate more volatility; it reported an SEC yield of approximately 4.48% in April 2026. which municipal bonds to buy

: An opportunistic choice that invests in closed-end funds, offering a high SEC yield of 5.81%, though with a significantly higher expense ratio of 1.97%. State-Specific (For High-Tax States) Muni Yield1−Tax Ratethe fraction with numerator Muni Yield

: Building a "bond ladder" can help manage interest rate risk by spreading maturities across the yield curve. : Focuses on investment-grade bonds (AA and AAA)

: Focuses on investment-grade bonds (AA and AAA) with a competitive 0.05% expense ratio and a 3.37% yield.

: iShares California Muni Bond ETF (CMF) offers a 3.05% SEC yield.

In 2026, municipal bonds (munis) are positioned as attractive options for high-tax-bracket investors due to record issuance and stable credit quality. Analysts favor longer-term and intermediate bonds as the Federal Reserve is expected to lower short-term rates, while longer-term yields remain elevated.