High Yield Muni Bonds: What % of growth is capital gains vs Interest?

[bootyman]

Is there any data on what percentage of growth from munibonds is capital gains vs interest payments (dividends)?

[steevven1]

Shouldn't the return of any bond held to maturity be 100% interest?

Capital gains are only possible with bonds when they are sold prior to maturity.

[MustacheAndaHalf]

From 1980s to now interest rates have fallen, which provides capital gains for bonds.  But bonds are now at very low rates.  Capital gains would require further drops in interest rates.

[MichaelB]

Shouldn't the return of any bond held to maturity be 100% interest?

Capital gains are only possible with bonds when they are sold prior to maturity.

If you're actually buying individual bonds, yes. If you're investing in bonds through a mutual fund, then you'll get capital gains/losses as you rebalance. And the fund itself will probably trade at least some of the positions before maturity.

[forummm]

Is there any data on what percentage of growth from munibonds is capital gains vs interest payments (dividends)?

Among all munibond funds? Who knows. From a specific fund? Yes. For example, check out the fund page for the Vanguard fund that interests you and click on distributions.

https://investor.vanguard.com/mutual-funds/list?assetclass=bond#/mutual-funds/asset-class/month-end-returns