Pioneer Municipal High Income Advantage Trust (the Trust) is a diversified, closed-end management investment company. The investment objective of the Trust is to seek a high level of current income exempt from regular federal income tax, and the Trust may seek capital appreciation to the extent that it is consistent with its primary investment objective. The Trust may invest in both investment and below investment grade (high-yield) municipal securities with a range of maturities and credit ratings. The Trust invests in various sectors, including health, insured, airport, tobacco, pollution control, development, housing, facilities, transportation, water, education, power and airline. Pioneer Investment Management, Inc. (PIM), a wholly owned indirect subsidiary of UniCredit S.p.A. (UniCredit) manages the Trust's portfolio.