EVIM vs MUNI

EVIMAEaton Vance Intermediate Municipal Income ETF

MUNIBPIMCO Intermediate Municipal Bond Active Exchange-Traded Fund

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.

MUNI Active muni investing in an ETF shell, running since 2009. PIMCO's bond desk hand-picks roughly 400 intermediate tax-exempt bonds and pays out monthly, instead of copying a muni index.

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.

MUNI The Fund seeks tax-exempt income while preserving capital. It normally invests at least 80% of its assets in a diversified portfolio of debt securities whose interest is federally tax-exempt as determined by the issuer’s bond counsel.

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

• MUNI Actively run rather than index-tracking: PIMCO's desk picks the bonds, with at least 80% of assets committed to debt whose interest is federally tax-exempt.
• Trading since 2009, which makes it one of the veterans of the active bond ETF shelf, and it now carries billions in assets.
• Income arrives monthly, drawn from roughly 400 bonds rather than a few large issues.
• One of the stronger showings in a crowded muni field, and it stays tight to the mandate written in its prospectus.

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

• MUNI The 0.35% fee sits above the muni cohort median of 0.30%, and index rivals like VTEB and SCMB charge 0.03%. Active management is what you are paying up for.
• The tax break is federal. State and local treatment depends on where you live and what the fund holds.
• No index to anchor it: outcomes track manager decisions, and intermediate-maturity bonds still move with rates.

Full EVIM profile⁠

Full MUNI profile⁠