EVIM vs TXXI

EVIMAEaton Vance Intermediate Municipal Income ETF

TXXICBondBloxx IR+M Tax-Aware Intermediate Duration 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.

TXXI Most muni ETFs pick a lane. TXXI runs both: at least half in federally tax-exempt munis, the rest in taxable bonds, with duration held to a 3 to 5 year band. Actively managed by bond shop IR+M, launched in 2025.

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.

TXXI The Fund seeks attractive after-tax income while preserving capital. It invests in dollar-denominated municipal and taxable intermediate-duration fixed-income securities, normally allocating at least 50% of assets to federally tax-exempt municipal securities and seeking a 3–5-year weighted-average portfolio duration.

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

• TXXI The mandate is written down, not implied: a 50% floor in federally tax-exempt munis, the balance in taxable fixed income, weighted-average duration kept between 3 and 5 years.
• What it holds matches what it says. The portfolio stays inside its tax-aware, intermediate-duration lane rather than drifting long or into pure taxable credit.
• Distributions land monthly, so income arrives on a steady schedule instead of in quarterly lumps.
• The blend is the point: a manager deciding where after-tax income looks better, munis or taxables, instead of an index locking the fund into one side.

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

• TXXI At 0.35% it runs above the muni-fund median of 0.30%, and index heavyweights VTEB and SCMB charge 0.03%. Active management and the crossover mandate are what the gap buys.
• A small, thinly traded fund launched in 2025: spreads can be wider than the big muni trackers, and the track record is still short.
• Only half the book must be tax-exempt. Income from the taxable sleeve is federally taxable, so the shelter is partial compared with a pure muni fund.

Full EVIM profile⁠

Full TXXI profile⁠