IBMR vs MYMI

IBMRAiShares iBonds Dec 2029 Term Muni Bond ETF

MYMIDState Street My2029 Municipal Bond ETF

In short

IBMR A muni ladder rung in one ticker: it holds investment-grade municipal bonds maturing in 2029, tracks an AMT-free index, and pays monthly. Bond-style term structure, ETF plumbing.

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

IBMR The fund seeks to track an index of investment-grade municipal bonds that mature in 2029.

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

• IBMR Charges 0.10% a year, right at the median for target-maturity bond funds, and the iBonds lineup is built so maturity years stack into a ladder.
• Spreads across more than a thousand investment-grade munis, so one issuer's trouble barely moves the fund.
• Follows an AMT-free index, screening out bonds whose income can trip the alternative minimum tax.
• Pays monthly, matching how muni income is usually spent, and holds a well-built portfolio for its category.

• 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

• IBMR Munis are the tax-advantaged lane. For the same 2029 rung in taxable bonds, iShares also runs IBDU (corporate) and IBTJ (Treasury).
• The index is callable-adjusted: plenty of munis can be redeemed early by their issuers, so the mix heading into the term date can shift.
• It is a fund, not a single bond. Shares trade at market prices and move with rates along the way, and the end payout is whatever the bonds deliver.

• 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 IBMR profile⁠

Full MYMI profile⁠