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MFS High Yield Municipal Closed Fund (CMU)
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Upturn Advisory Summary
12/26/2025: CMU (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit 14.89% | Avg. Invested days 52 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 12/26/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 84.89M USD | Price to earnings Ratio 6.8 | 1Y Target Price - |
Price to earnings Ratio 6.8 | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 0.69 | 52 Weeks Range 3.18 - 3.70 | Updated Date 06/29/2025 |
52 Weeks Range 3.18 - 3.70 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 5.32% | Basic EPS (TTM) 0.49 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 166.79% | Operating Margin (TTM) 85.56% |
Management Effectiveness
Return on Assets (TTM) 2.52% | Return on Equity (TTM) 12.88% |
Valuation
Trailing PE 6.8 | Forward PE - | Enterprise Value 135848352 | Price to Sales(TTM) 11.31 |
Enterprise Value 135848352 | Price to Sales(TTM) 11.31 | ||
Enterprise Value to Revenue 6.73 | Enterprise Value to EBITDA - | Shares Outstanding 25492800 | Shares Floating - |
Shares Outstanding 25492800 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 51.22 |
Upturn AI SWOT
MFS High Yield Municipal Closed Fund
Company Overview
History and Background
MFS High Yield Municipal Closed Fund is a closed-end investment fund managed by Massachusetts Financial Services Company (MFS). Established on January 28, 2003, the fund aims to provide high current income exempt from federal income tax and, where applicable, from state and local income taxes. Significant milestones include its inception and subsequent performance within the municipal bond market. Its evolution is tied to the broader trends in the fixed-income and municipal securities landscape.
Core Business Areas
- Investment Management: The fund's core business is the investment and management of a diversified portfolio of high-yield municipal bonds. This involves identifying, analyzing, and selecting municipal securities issued by state and local governments and their agencies that offer higher yields but also carry higher credit risk compared to investment-grade municipal bonds.
Leadership and Structure
The fund is managed by a team of investment professionals at Massachusetts Financial Services Company (MFS). The specific portfolio managers for the MFS High Yield Municipal Closed Fund are subject to change and are detailed in the fund's prospectus. As a closed-end fund, it has a fixed number of shares outstanding, traded on an exchange, and is overseen by a board of trustees.
Top Products and Market Share
Key Offerings
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Market Dynamics
Industry Overview
The municipal bond market is a significant segment of the U.S. fixed-income landscape, providing financing for public infrastructure and services. The high-yield municipal bond sector, in particular, is influenced by economic growth, state and local government finances, interest rate environments, and regulatory changes affecting tax exemptions. The closed-end fund structure provides a fixed capital base for portfolio managers.
Positioning
MFS High Yield Municipal Closed Fund is positioned as a specialized investment vehicle for investors seeking tax-advantaged income from higher-yielding, albeit riskier, municipal debt. Its competitive advantages would stem from MFS's expertise in fixed-income management, proprietary research capabilities, and the potential for active management to navigate the complexities of the high-yield municipal market. However, it competes with a wide array of other municipal bond investment options.
Total Addressable Market (TAM)
The TAM for municipal bonds is substantial, representing trillions of dollars in outstanding debt. The TAM for high-yield municipal bonds is a subset of this, driven by the financing needs of entities that may not qualify for investment-grade ratings. MFS High Yield Municipal Closed Fund aims to capture a portion of the assets allocated by investors to this specific niche within the broader municipal bond market.
Upturn SWOT Analysis
Strengths
- Specialized focus on high-yield municipal bonds, offering potentially higher income.
- Tax-exempt income is attractive to high-net-worth individuals in higher tax brackets.
- Managed by a reputable asset manager (MFS) with extensive experience in fixed income.
- Closed-end structure provides stable capital for the portfolio manager, allowing for a long-term investment strategy.
Weaknesses
- Higher credit risk associated with high-yield bonds compared to investment-grade municipal bonds.
- Potential for price volatility due to interest rate sensitivity and credit quality fluctuations.
- Closed-end funds can trade at a premium or discount to their Net Asset Value (NAV), leading to potential valuation issues for investors.
- Limited liquidity for individual high-yield municipal bonds can impact portfolio management.
Opportunities
- Potential for interest rate declines to boost bond prices.
- Increased infrastructure spending by governments could lead to more municipal bond issuance.
- Investor demand for tax-efficient income streams remains strong.
- Active management can identify undervalued securities in a potentially less efficient market segment.
Threats
- Rising interest rates can negatively impact bond prices and increase borrowing costs for issuers.
- Deterioration in the financial health of state and local governments can lead to defaults or downgrades.
- Changes in tax laws that reduce the tax advantages of municipal bonds.
- Increased competition from other investment vehicles, including ETFs and other closed-end funds.
Competitors and Market Share
Key Competitors
- Nuveen High Income Municipal Fund (NMK)
- BlackRock Municipal Income Trust (BFK)
- PIMCO High Income Municipal Fund (PHK)
- Invesco Municipal Bond Fund (VKMX)
- VanEck Muni CEF Opportunities ETF (SMB)
Competitive Landscape
MFS High Yield Municipal Closed Fund competes on factors such as yield, distribution consistency, expense ratio, and portfolio manager expertise. Its advantage lies in MFS's established reputation. However, competitors like Nuveen and BlackRock are also major players with extensive offerings and brand recognition in the municipal bond space, often commanding larger market shares due to their size and product breadth. The closed-end structure itself presents a different competitive dynamic than ETFs or open-end mutual funds.
Growth Trajectory and Initiatives
Historical Growth: The growth of MFS High Yield Municipal Closed Fund is not measured by AUM growth in the same way as an open-end fund due to its fixed capital structure. Instead, historical growth is assessed through its performance in terms of NAV appreciation and consistent income generation. Trends in the high-yield municipal market and MFS's investment strategy would have influenced its trajectory.
Future Projections: Future projections for a closed-end fund are primarily influenced by the expected performance of its underlying asset class (high-yield municipal bonds) and the effectiveness of its management. Analyst projections would focus on interest rate movements, credit conditions, and potential changes in municipal finance. Specific growth projections for the fund itself are not typically provided in the same manner as for operating companies.
Recent Initiatives: Recent initiatives for a closed-end fund often involve adjustments to portfolio holdings, changes in distribution policies, or shareholder outreach efforts. Specific strategic initiatives would be detailed in regulatory filings or shareholder reports. The focus remains on optimizing the portfolio to meet its investment objectives.
Summary
MFS High Yield Municipal Closed Fund offers a specialized investment in tax-exempt income from higher-risk municipal bonds, managed by a reputable firm. Its strengths lie in its focused strategy and tax advantages. However, it faces significant risks from credit quality and interest rate fluctuations. Opportunities exist in market dislocations, but threats from rising rates and regulatory changes are present. Its performance hinges on active management navigating these complexities.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Massachusetts Financial Services Company (MFS) official fund reports and filings (SEC EDGAR)
- Reputable financial data providers (e.g., Bloomberg, Refinitiv, Morningstar)
- Industry research reports on the municipal bond market and closed-end funds
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute investment advice. Investing in closed-end funds, especially high-yield municipal bonds, involves significant risks, including the potential loss of principal. Past performance is not indicative of future results. Investors should consult with a qualified financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About MFS High Yield Municipal Closed Fund
Exchange NYSE | Headquaters Boston, MA, United States | ||
IPO Launch date 1987-03-19 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
MFS High Yield Municipal Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in tax-exempt bonds and tax-exempt notes. The fund benchmarks the performance of its portfolio against Barclays Municipal Bond Index. It was formerly known as Colonial Municipal Income Trust. MFS High Yield Municipal Trust was founded in March 19, 1987 and is domiciled in the United States.
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