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Municipal Bond Fund

Categories: Muni Bonds

See: Municipal Bond.

Put together a gaggle of these bonds and you get one of these: https://www.americanfunds.com/advisor/investments/fund/ahmfx

Hundreds of individual investments in muni bonds, each reliably, predictably throwing off cash in hordes, which are then distributed back to the funds' shareholders. Fat. And. Happy. And no tax to boot.

Find other enlightening terms in Shmoop Finance Genius Bar(f)