IBMQ vs MYMI

IBMQAiShares iBonds Dec 2028 Term Muni Bond ETF

MYMIDState Street My2029 Municipal Bond ETF

In short

IBMQ A muni ladder rung in ETF form: thousands of investment-grade bonds that mature or get called by late 2028, then the fund winds up and pays out. AMT-free index, income paid monthly.

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

IBMQ The fund seeks to track an index of investment-grade U.S. municipal bonds that are expected to mature or be redeemed before December 2, 2028.

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

• IBMQ Acts like a single bond with a known end date: it holds munis maturing or redeemed before December 2, 2028, then terminates and distributes net assets.ishares.com
• Spreads one ladder rung across thousands of investment-grade municipal bonds, far more than a retail buyer could assemble directly, and pays monthly.
• The tracked index is AMT-free, screening out bonds whose interest counts toward the alternative minimum tax.
• Costs 0.10% a year, in line with the typical target-maturity bond fund, and this 2028 rung has been running since 2019.

• 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

• IBMQ Callable-adjusted by design: munis can be redeemed early, so cash can come back ahead of schedule and the final wind-up payout is not a fixed number.
• Until it terminates it trades like any bond fund, with prices moving on rates, and volume is moderate rather than heavy.
• Same 0.10% as corporate rungs like IBDU and BSCT, while Treasury rungs such as IBTJ run cheaper at 0.07%; the muni tax treatment is the reason to pay it.

• 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 IBMQ profile⁠

Full MYMI profile⁠