High-yield muni funds are leading the pack. Here are some of our favorites.
A recap of 2020’s roller-coaster ride in the muni markets and questions about what comes next.
Usually a relatively stable part of the market, munis have seen an uptick in volatility in the past several months.
This market hasn't been immune to trouble stemming from the coronavirus-related volatility.
Investors' appetite for municipal bonds soared last year, helping push already low muni yields even lower.
Tax law changes could create new opportunities for muni investors.
MFS Municipal Income MFIAX and T. Rowe Price Tax-Free Income have a lot to offer.
The change promoted a downgrade from the fund's Morningstar Analyst Rating of Silver to Bronze.
Three of the industry's finest discuss where they're finding value and what risks to consider.
More than a decade of comanagement and a sizable team make Wells Fargo Intermediate Tax/AMT-Free Fund an option to chew on.
The Bronze-rated Hartford Total Return Bond should reward patient investors who are comfortable with its risks.
Rising rates, tax changes, and outflows have hurt the muni market this year, but signs point to a solid end to the year.
Silver-rated MFS Municipal Income Fund is willing to bet on lower quality bonds, if the price is right.
Silver-rated Vanguard Long-Term Investment-Grade's significant interest-rate sensitivity means the fund can lag its peers as rates rise.
Despite some personnel changes, Fidelity Municipal Income earns a Gold rating.
Morningstar's Beth Foos discusses today's municipal-bond landscape and the rise of passive muni funds.
The debate over tax changes sparked a record amount of muni market activity at the end of 2017 and the impact of the final bill will be felt for months ahead.
Elements of the tax changes could dampen some demand, but overall the market isn't predicting disaster for municipal bonds.
Our analysts think these holdings are resilient in the face of rising interest rates.
Gold-rated T. Rowe Summit Muni Intermediate focuses on in-depth, bottom-up research.
A few distressed credits struggled in the third quarter, but yield-hungry investors kept their appetite for medium- and lower-quality munis.
Passive investing in the municipal market is gaining steam.
Vanguard Long-Term Investment-Grade Fund has performed well, but it is one of the most interest-rate-sensitive taxable bond funds.
High-yield munis have performed best this year, but tax and healthcare reform could impact the market going forward.
Despite concerns about Puerto Rico and higher rates, municipal-bond funds have continued their run in 2016.
With a solid long-term record and low fees, Vanguard Long-Term Investment-Grade earns a Morningstar Analyst Rating of Silver.
Muni manager Jamie Pagliocco is stepping down from Fidelity Municipal Income, but we don't expect changes as a result, says Morningstar's Beth Foos.
Nearly a year after Puerto Rico Governor Alejandro Garcia Padilla declared that the commonwealth couldn't pay its debt, little has been resolved to give its residents or its investors any solace.
This fund is the largest and most-liquid municipal-bond ETF.
The mutual fund giant takes a passive approach to the diverse and fragmented muni-bond market -- and takes on iShares, to boot.
A long-tenured team and an improving expense profile burnish the appeal of Bronze-rated BlackRock National Municipal Fund.
Although Gold-rated T. Rowe Price Tax-Free High Yield doesn't top its category in any one year, its long-term returns best nearly all peers by avoiding the muni market's riskiest pockets.
Stable market conditions and client demand signal the right time for the firm to launch the first tax-exempt index open-end mutual fund.
Fidelity’s municipal-bond funds are worthy of note.
Silver-rated MFS Municipal Income has been a top performer in its category over the long term and has a competitive price tag to boot.
Gold-rated Fidelity Tax-Free Bond steers clear of leverage and volatile parts of the market, offering downside protection when the market heads south.
Bronze-rated USAA Tax Exempt Intermediate-Term's fondness for midquality issues can lead to underperformance in down markets, but the fund has excelled over the long term.
Silver-rated Vanguard Intermediate-Term Tax-Exempt Fund boasts solid long-term returns, thanks in part to its straightforward approach and low costs.
Investors should expect continued volatility.
Focusing on longer-maturity bonds, Silver-rated Franklin Federal Intermediate-Term Tax-Free Income could experience heightened volatility when interest rates tick up.
Three non-traditional bond managers discuss the evolution of their strategies, main inputs into their portfolio construction, and how they expect to navigate the changing market environment ahead.
Though it can be bumpy at times, Silver-rated Wells Fargo Advantage Municipal Bond has successfully invested in mid- and lower-quality tiers of the market over the long term.
Bronze-rated Wells Fargo Advantage Ultra Short-Term Municipal Income has delivered solid long-term returns with low volatility, but it can lag more rate-sensitive peers.
Breaking the mold.
After struggling dearly in 2013's challenging environment, muni funds have turned in solid performance as interest rates, defaults, and new issuance remain low, and credit quality has improved.
Relevant questions (and answers) for investors as they continue their research into bankruptcy and pension issues.
Even with the extraordinary events occurring in Detroit, the credit quality of the muni market remains high, says Morningstar's Beth Foos.