Marks completion of the conversion of the BlackRock High Yield Municipal Fund into the iShares High Yield Muni Active ETF
NEW YORK–(BUSINESS WIRE)–Today, BlackRock announced the conversion of the BlackRock High Yield Municipal Fund into an active ETF, creating the iShares® High Yield Muni Active ETF (CBOE: HIMU). HIMU harnesses the expertise of BlackRock’s Municipal Bond Group to provide more choice and flexibility to clients seeking high yield, tax-exempt solutions in the convenience of an ETF.
“Today’s higher interest rate environment provides a generational opportunity to capture income, particularly in the municipal bond market,” said Pat Haskell, Head of the Municipal Bond Group at BlackRock. “Through the ETF wrapper, HIMU aims to take advantage of the attractive yield levels and strong credit quality in municipal bonds, delivering alpha to our clients in an efficient and transparent manner.”
The new ETF seeks to maintain identical investment objectives and fundamental investment policies as its predecessor mutual fund. HIMU aims to maximize federal tax-exempt current income and capital appreciation by investing in high yield municipal securities across a variety of sectors. The mutual fund was launched in 2006 and delivered top quartile performance over the one-, five-, ten- and fifteen-year periods as of December 31, 2024.1
Distributed by Business Wire
10th February 2025