EVIM vs INMU

EVIMAEaton Vance Intermediate Municipal Income ETF

INMUBiShares Intermediate Muni Income Active ETF

In short

EVIM Active muni management at index-fund pricing. Eaton Vance charges 0.11% for a federally tax-exempt, intermediate-maturity bond portfolio built by bond pickers instead of copied from a benchmark.

INMU An actively run muni portfolio from BlackRock's municipal desk: roughly 600 bonds picked by hand, measured against the Bloomberg Municipal 3-10 Year Index rather than chained to it, with income paid monthly. Fee: 0.30% net of a waiver through June 30, 2027.

Stated mandate

EVIM The fund seeks income through a diversified portfolio of debt securities whose interest is exempt from regular federal income tax, with at least 80% of assets committed to that municipal-bond strategy.

INMU The fund seeks tax-exempt income and total return through actively managed exposure to intermediate-term municipal bonds.

Why people hold it

• EVIM Charges 0.11% a year against a roughly 0.30% muni-ETF median. That is a hands-on bond desk priced in index-fund territory.
• At least 80% of assets go to munis whose interest is exempt from regular federal income tax, with room for up to 20% in taxable munis and Treasuries.aaii.com
• Income lands monthly, and the core of it escapes regular federal income tax.
• Diversified core muni exposure across sectors, states and credit tiers, and one of the stronger implementations in a crowded tax-exempt bond field.eatonvance.com

• INMU Active by design: managers choose bonds across credit tiers, and the fund's secondary yardstick blends mostly investment grade munis with a 10% high yield slice.blackrock.com
• Income lands monthly, spread across roughly 600 municipal positions, so no single issuer or state carries the coupon load.
• 0.30% net of a waiver through June 30, 2027 (0.41% gross) sits near the category median, which is not where most actively managed muni funds land.
• Does what the label says: intermediate national munis, actively managed, and it sits in the upper half of its intermediate muni peer group.

Worth knowing

• EVIM Index rivals cost less: VTEB and SCMB at 0.03%, MUB at 0.05%. The gap is what the active team costs.
• Trades lighter than the household-name index munis, so spreads can widen and limit orders matter more.
• Launched in 2023, so the record is short, and results trace back to the manager's bond selection rather than a published index.aaii.com

• INMU You pay up for the manager. Index-tracking neighbors run cheaper: TAXI at 0.05%, EVIM at 0.11% net of a waiver through February 1, 2027, ITM at 0.18%.
• The waiver runs out June 30, 2027. Absent a renewal, the cost reverts toward the 0.41% gross fee.
• Tax-exempt is not tax-free for everyone: iShares notes some holders may still owe state income tax or AMT on the income.ishares.com

Full EVIM profile⁠

Full INMU profile⁠