FYDAMX

About FYDAMX

The First Trust Combined Series 421 Tax Exempt Municipal Income Trust Long Intermediate Fund is a unit investment trust designed to provide investors with income that is exempt from federal, and where applicable, state and local income taxes. Its investment portfolio consists primarily of investment-grade municipal bonds with intermediate to long-term maturities, which helps target relatively stable, tax-advantaged income streams while also focusing on preserving capital. By pooling municipal securities from a range of U.S. issuers, this fund supports the financing of public infrastructure and development projects such as schools, hospitals, and transportation facilities. It pays out distributions on a regular basis and is structured to mature after a predetermined period, rather than operating as an open-ended fund. The fund’s role in the financial market is to serve investors, especially those in higher tax brackets, seeking to manage tax liability and obtain consistent income with comparatively low default risk, leveraging the municipal market’s position as a foundational element of U.S. fixed income investing.