You can get the same return with a Long Term Tax Exempt fund such as VWLUX (Vanguard Long Term Tax Exempt Fund - example only I’m not trying to push this.) which pays approximately 4% annually federal tax free. Go to Morningstar and look at the options for Long Term Tax Exempt funds. The issue with these type investments is interest rate risk. In a rising interest rate environment the value of the asset goes down. If you are holding long term that is less of an issue.
I’m not a financial advisor, I don’t play one on TV, and you should seek competent financial advice before you invest.
Thank you.