IBMR vs MYMK

IBMRAiShares iBonds Dec 2029 Term Muni Bond ETF

MYMKDState Street My2031 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.

MYMK A single rung of a muni ladder: MYMK holds tax-exempt bonds maturing in 2031, then returns remaining principal and closes on or about December 15, 2031. Unlike the big index ladders, a State Street team picks the bonds.

Stated mandate

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

MYMK The fund is an actively managed target-maturity municipal bond strategy focused primarily on bonds maturing in 2031. It seeks current federal-tax-exempt income while also seeking capital preservation.

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.

• MYMK Actively managed rather than index-tracked: the team works top-down across sectors and issuers, with the ICE 2031 Maturity US Broad Municipal Index as the yardstick.businesswire.comssga.com
• The defined end date does the work of a maturity: the fund distributes any remaining principal and liquidates on or about December 15, 2031.ssga.com
• Income is exempt from regular federal income tax and paid monthly, with preservation of capital named as the second goal.
• Roughly 80 bonds spread issuer risk that you would carry concentrated if you bought a couple of individual munis yourself.

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.

• MYMK The 0.20% fee sits above index-run ladder rungs like iShares iBonds (IBTJ) and Invesco BulletShares (BSCT). That is the price of a manager picking bonds.
• Small and thinly traded next to the established ladder families, so the bid-ask spread is a real part of your cost.
• In the target year, proceeds from bonds maturing before the liquidation date may sit in cash and cash equivalents, which can trim income in the final stretch.ssga.com

Full IBMR profile⁠

Full MYMK profile⁠