EVM - 8.4% To 10.8% Tax-Equivalent Yield On A-Rated Govt Bonds (EIM EVM)

May, 13 2022 08:20 AM Eaton Vance California Municipal Bond Fund of Beneficial Interest $.01 par value

Municipal bonds are often overlooked by retail investors seeking yield, despite the many advantages they offer over low/no growth dividend stocks.
Thanks to the worst quarter in history for government bonds, you can pick up some enticing yields right now on municipal closed-end funds trading far below net asset value (NAV).
You don't need to go that far out in duration. EIM has a 7.4 year duration, A+ credit quality, and pays 5%. That's a tax-equivalent rate of 8.4%.
Depending on the fund and your state, distributions may be exempt from federal and state income tax. EVM has AA-credit and, for California residents, equates to a 10.8% tax-equivalent rate.

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Company Name:	Eaton Vance California Municipal Bond Fund of Beneficial Interest $.01 par value
Stock Symbol:	EVM
Market:	NYSE