FT Tax-Exempt Municipal Income Trust 10–20 Year Series 559, Class CA is a unit investment trust designed to deliver income that is generally exempt from federal—and for California residents, often state and local—income taxes. It holds a fixed, diversified portfolio of investment‑grade municipal bonds with maturities largely in the 10 to 20 year range, following a defined buy‑and‑hold structure until the trust’s termination date. The trust emphasizes capital preservation alongside tax‑advantaged cash flow by focusing on high‑quality issuers and essential-service revenue and general obligation bonds commonly found in municipal markets. As a unit trust, its portfolio is not actively managed after deposit; securities may be sold only for limited reasons such as credit events or to meet redemptions, and returns reflect the underlying bonds’ income and price changes over time. Within the broader fixed income landscape, it serves investors seeking predictable, tax‑efficient income and transparent holdings, complementing ladders or other municipal allocations with a defined life and stated investment objective centered on tax‑exempt income and principal stability.
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