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Eaton Vance Municipal Income 2028 Term Trust

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Eaton Vance Municipal Income 2028 Term Trust is a diversified closed-end fund that invests primarily in investment-grade municipal bonds with a defined termination date. The fund seeks to provide current income exempt from regular federal income tax while preserving capital through a laddered portfolio of municipal securities. As a term trust, the fund has a specified dissolution date in 2028, when it intends to return capital to shareholders. This structure provides investors with a defined investment horizon and reduces long-term interest rate risk compared to perpetual closed-end funds.