Pioneer Municipal High Income Advantage Trust is a diversified, open-ended management investment company. The investment objective of the Fund is to seek a high level of current income exempt from regular federal income tax, and the Fund may, as a secondary objective, also seek capital appreciation to the extent that it is consistent with its primary investment objective. The Fund offers four classes of shares designated as Class A, Class C, Class R and Class Y shares. Each class of shares represents an interest in the same portfolio of investments of the Fund and has identical rights (based on relative net asset values) to assets and liquidation proceeds. The Fund invests in various sectors, including materials, information technology, financials, healthcare, industrials, consumer staples, energy, telecommunication services, utilities, consumer discretionary. The investment advisor to the Fund is Amundi Pioneer Asset Management, Inc.