CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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Pioneer Municipal High Income Advantage Trust (MAV)

National Muni Bond Funds - Muni High Yield

Data as of Oct. 17, 2019
Market Price $10.79 (- $0.02)
NAV (Oct. 17, 2019) $11.99 (- $0.02)
Premium / Discount -10.01% (-0.02%)
Fund Info
Inception Oct. 20, 2003
Sponsor Pioneer Investment Management
Website http://us.pioneerinves...
Phone 1-800-225-6292
Objective: High current income exempt from regular federal income tax; municipal securities
Related Indexes
Discount CEF/BDC Index
Capital & Leverage
Outstanding Shares 23,899,020
Total Assets (Reported: March 31, 2019) $440M
Estimated Total Assets $444M
Net Assets $287M
Market Cap $258M
Purchases Turnover 21.67%
Sales Turnover 20.50%
Total Leverage 35.50%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 2.72%
Non Lev Exp Ratio 1.14%
Rel Lev Cost 2.82%
Discount Data
Average Discount (3 Yr) -5.61%
Discount Low(3 Yr) -10.79%
Discount High(3 Yr) 3.17%
Discount Rel Range 5.62%
Comp Discount -7.27
Discount St Dev (1Yr) 1.50
Z-Stat (6mo) -1.54
Z-Stat (1Yr) -1.25
Z-Stat (3Yr) -1.49
Comp Z-Stat (6mo) -1.60
Comp Z-Stat (3Yr) -1.64
Distribution Data
Market Yield 4.17%
Income Yield 4.17%
Lev Adj NAV Yield 2.77%
Distribution Frequency M
Current Distribution $0.038
Current Income $0.038
Ex-Date 10/16/19
Payable Date 10/31/19
Div Growth (3yr) -40.00%
Dividend Change -11.8% on 6/4/19
Expected Div 11/5/19
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $721
Avg Volume 30 day 45,621
Avg Volume 90 day 66,804
Volume Trend -31.71%
Comp Volume Trend -20.01%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's High Yield Municipal Index
Most Correlated Peer (Mk Pr): MHI 73.0%
NAV - Price Correlation (30 d) 64.5%
NAV - Price Correlation (90 d) 78.5%
NAV - Price Correlation (1 Yr) 79.2%
Price St Dev (1Yr) 10.5%
NAV St Dev (1Yr) 2.8%
Earnings / Share (3/31/19) $0.044
Earn Coverage 118.13%
Earnings Trend Down
UNII / Share (3/31/19) $0.053
Rel UNII 11.71
UNII Trend Down
Bond Specific Data
Maturity 12.66
Duration 5.22
Credit Rating (rbo) A
Investment Grade 68.17%
Non Investment Grade 14.90%
Unrated Bonds 16.94%
Average Bond Price 103.95
Discount vs Price -6.06
Coupon 5.60%
Zero Coupon 14.10%
AMT 0.00%
AMT Yield 4.17%
Bond Calls Risk 0.00%
NAV Beta (2yr)
vs. S&P 500 (TR)
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
NAV Beta (2yr)
vs. CEFA's High Yield Municipal Index


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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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