# MFS High Yield Municipal Trust (CMU): Closed-End Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/cmu for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: MFS · Asset class: Equity - Strategy: Actively Managed · Inception: 1987-03-19 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. ## Key Facts | Metric | Value | |---|---| | Price | $3.36 | | Expense Ratio | 0.00% | | Assets Under Management | $2.50B | | NAV | Not on file (no daily NAV for this closed-end fund) | | Holdings Count | 108 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | Special | | 52-Week Range | $3.21 – $3.71 | | Beta | 0.65 | ## Latest Distribution - Amount: $0.0863 /share - Ex-date: 2026-05-21 - Pay date: 2026-05-29 ## Frequently Asked Questions ### What does CMU invest in? 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. ### What is the expense ratio of CMU? MFS High Yield Municipal Trust (CMU) charges an expense ratio of 0.00%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is CMU? MFS High Yield Municipal Trust (CMU) manages $2.50B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is CMU actively managed or an index fund? CMU is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (CMU's is 0.00%) in exchange for the discretion to over- or under-weight positions. ### When was CMU launched? MFS High Yield Municipal Trust (CMU) launched in March 1987 and is managed by MFS. ### How has CMU performed? CMU's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does CMU pay a dividend? MFS High Yield Municipal Trust (CMU) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does CMU pay dividends? MFS High Yield Municipal Trust pays dividends Special. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is CMU's dividend yield? CMU's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is CMU's next ex-dividend date? The most recently announced ex-dividend date for CMU was 2026-05-21. The next ex-date typically follows Special; once announced it appears at the top of the dividend history table on this page. ### How much will CMU's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.00% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does CMU charge its expense ratio? The expense ratio is deducted in tiny daily slices from CMU's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does CMU cost more than a fund like VOO? CMU is actively managed (current expense ratio 0.00%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether CMU's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to CMU? The Lower-Fee Alternatives card above lists closed-end funds following the same investment strategy as CMU (0.00%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/cmu - Distribution history: https://www.dividenddata.com/funds/cmu/dividend - Holdings & diversification: https://www.dividenddata.com/funds/cmu/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/cmu/expenses - Peer comparison: https://www.dividenddata.com/funds/cmu/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.