IIM: Discount Remains Narrow On This Muni CEF

2026-01-27 15:56:52 ET

Written by Nick Ackerman, co-produced by Stanford Chemist

The Invesco Value Municipal Income Trust ( IIM ) provides investors with exposure to a diversified pool of municipal bonds in a closed-end fund wrapper. This provides for an opportunity to receive some tax-exempt distributions without taking the risk of holding individual muni positions. However, as we've noted in our prior write-ups on this fund, a large portion of the distribution is classified as return of capital instead of purely tax-exempt distributions....

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