The Pioneer Municipal High Income Advantage Fund, Inc. operates as a closed-end mutual fund dedicated to fixed-income assets, managed by Pioneer Investment Management, Inc. This fund primarily allocates capital within the United States' fixed income markets, with a distinct focus on municipal bonds. Its performance is evaluated against two key benchmarks: the Barclays Capital High Yield Municipal Bond Index and the Barclays Capital Municipal Bond Index. Established in the U.S. on August 6, 2003, the fund was previously identified as Pioneer Municipal Advantage Trust.