IBMP vs MYMI

IBMPAiShares iBonds Dec 2027 Term Muni Bond ETF

MYMIDState Street My2029 Municipal Bond ETF

In short

IBMP A single rung of a muni ladder in one ticker: investment-grade bonds that all mature in 2027, tax-exempt income paid monthly along the way, and a defined end date instead of a fund that rolls on forever.

MYMI Most bond-ladder rungs just follow an index. This one is a 2029 muni rung run by actual bond pickers, paying federally tax-exempt income monthly until it returns remaining principal and closes around December 15, 2029.

Stated mandate

IBMP The fund seeks to track an index of investment-grade municipal bonds maturing in 2027. It is designed to provide tax-exempt income, support bond-ladder construction, and manage interest-rate risk through a defined maturity.

MYMI The fund is actively managed and seeks current income exempt from regular federal income taxes while pursuing capital preservation. It invests primarily in municipal bonds maturing in 2029 and is intended to distribute remaining principal and liquidate around December 15, 2029.

Why people hold it

• IBMP Built to act like a bond, not a bond fund: the portfolio matures in 2027 and the whole design points at that date, which is what makes ladder-building possible with one trade.ishares.com
• 0.10% a year, right at the typical target-maturity bond fund, and it tracks an AMT-free index, so the tax-exempt income isn't pulled back in by the alternative minimum tax.
• Roughly 1,800 municipal bonds, so no single issuer carries the fund. That spread is hard to replicate buying individual munis one CUSIP at a time.
• Income lands monthly, and this 2027 rung has been running since 2019, so it isn't a fresh launch built for the moment.

• MYMI Built to end: it holds munis maturing in 2029, then distributes any remaining principal and liquidates on or about December 15, 2029. A bond-like maturity date in an ETF wrapper.ssga.com
• Actively managed, not rules-based: State Street runs top-down risk work plus bottom-up research to overweight sectors and issuers it finds attractive. Rare in a ladder aisle built on indexes.ssga.com
• Income targets an exemption from regular federal income taxes, and it pays monthly, which lines up with how ladder investors actually spend cash.
• One rung in the MyIncome suite, so maturity years can be stacked into a custom ladder instead of bought one-off.ssga.com

Worth knowing

• IBMP The 0.10% fee is the category median, not a discount. Treasury and corporate rungs like IBTJ (0.07%) and VBCB (0.08%) cost less, though neither pays tax-exempt muni income.
• The tax exemption is the entire pitch, and it does no work inside an IRA or 401(k), where the income is already sheltered.
• Trading is moderate rather than heavy, so order size and timing matter more here than in the most heavily traded bond ETFs.

• MYMI The 0.20% fee runs about double the target-maturity median. Index rungs like IBTJ, IBDU and BSCT sit at 0.07% to 0.10%, so active muni selection is the thing you are paying for.
• Launched in 2024 and still small and thinly traded next to the entrenched iBonds and BulletShares rungs, so spreads can be wide. Limit orders matter.
• Active means the roughly 100 bonds reflect the team's calls, not a fixed rulebook, and results can drift from the ICE 2029 Maturity US Broad Municipal Index it is measured against.

Full IBMP profile⁠

Full MYMI profile⁠