FTBBYX

About FTBBYX

First Trust Build America Bond Fund is a fixed-income unit investment trust focused on taxable municipal securities issued under the Build America Bond program created by the American Recovery and Reinvestment Act of 2009. Its primary objective is to distribute income and preserve capital by holding a professionally selected, investment-grade portfolio of long-dated municipal credits, typically backed by essential-service revenues or general obligation pledges from state and local issuers. The fund targets bonds that received federal interest subsidies at issuance, resulting in higher taxable coupon structures relative to traditional municipal bonds, while maintaining municipal credit exposure. By concentrating on this federally supported segment of the muni market, the fund provides access to diversified infrastructure-related financing spanning transportation, utilities, education, and public works. Within the broader fixed-income landscape, it serves as a specialized vehicle for investors seeking taxable municipal income, duration exposure comparable to core long municipal strategies, and transparency from a defined portfolio with scheduled termination characteristics common to unit investment trusts.