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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM N-CSR

                   CERTIFIED SHAREHOLDER REPORT OF REGISTERED
                        MANAGEMENT INVESTMENT COMPANIES



		Investment Company Act file number 811-21409

                  Pioneer Municipal High Income Advantage Trust
               (Exact name of registrant as specified in charter)


                       60 State Street, Boston, MA 02109
              (Address of principal executive offices) (ZIP code)


            Terrence J. Cullen, Pioneer Investment Management, Inc.,
                       60 State Street, Boston, MA 02109
                    (Name and address of agent for service)


Registrant's telephone number, including area code:  (617) 742-7825


Date of fiscal year end:  March 31


Date of reporting period:  April 1, 2009 through March 31, 2010


Form N-CSR is to be used by management investment companies to file reports with
the Commission not later than 10 days after the transmission to stockholders of
any report that is required to be transmitted to stockholders under Rule 30e-1
under the Investment Company Act of 1940 (17 CFR 270.30e-1).  The Commission may
use the information provided on Form N-CSR in its regulatory, disclosure review,
inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-CSR
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609.  The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. ss. 3507.


ITEM 1. REPORTS TO SHAREOWNERS.



Pioneer Municipal High Income Advantage Trust
--------------------------------------------------------------------------------
Annual Report | March 31, 2010
--------------------------------------------------------------------------------

Ticker Symbol:  MAV

[LOGO] PIONEER
       Investments(R)







                        visit us: pioneerinvestments.com


Table of Contents



                                                                          
Letter to Shareowners                                                         2
Portfolio Management Discussion                                               4
Portfolio Summary                                                             7
Prices and Distributions                                                      8
Performance Update                                                            9
Schedule of Investments                                                      10
Financial Statements                                                         21
Notes to Financial Statements                                                26
Report of Independent Registered Public Accounting Firm                      34
Approval of Investment Advisory Agreement                                    37
Trustees, Officers and Service Providers                                     41



   Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     1


President's Letter

Dear Shareowner,

Stock and bond markets around the globe have begun to recover over the past
year from one of their most tumultuous periods in history. This is a welcome
relief, and we are generally optimistic about the prospects for the economy
going forward. Still, challenges remain. Unemployment is high; consumer demand
and loan growth are weak; and housing has not returned to normal.

At Pioneer, we have long advocated the benefits of investing for the long term.
This strategy has generally performed well for many investors. Those who
remained invested in the market during the downturn have most likely seen their
portfolios start to recover over the past year, as the Dow Jones Industrial
Average climbed back from the depressed levels we saw in early 2009. Many bond
investors have similarly seen a strong rebound, with a broad-based recovery
occurring across many different fixed-income asset classes. The riskiest asset
classes, such as high-yield bonds, outperformed other fixed-income asset
classes during most of 2009.

At Pioneer, we are not changing the approach to investing that we have used for
more than 80 years. We remain focused on company fundamentals and risk
management. Our investment process is based on careful research into individual
companies, quantitative analysis, and active portfolio management. This
three-pillared process, which we apply to each of our portfolios, is supported
by an integrated team approach and is designed to carefully balance risk and
reward. While we see potential opportunities for making money in many corners
of the markets around the globe, it takes research and experience to separate
solid investment opportunities from speculation.

Following this difficult period, many investors are rethinking their approach
to investing and risk management. Some are questioning whether the basic
investment principles they were taught in the past are still useful in today's
markets. Complicating matters is that financial markets remain unpredictable.
Our advice, as always, is to work closely with a trusted financial advisor to
discuss your goals and work together to develop an investment strategy that
meets your individual needs. There is no single best strategy that works for
every investor.


2     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


We invite you to learn more about Pioneer and our time-tested approach to
investing by consulting with your financial advisor or visiting us online at
www.pioneerinvestments.com. We greatly appreciate your trust in us and we thank
you for investing with Pioneer.

Sincerely,

/s/ Daniel K. Kingsbury

Daniel K. Kingsbury
President and CEO
Pioneer Investment Management USA, Inc.

Any information in this shareowner report regarding market or economic trends
or the factors influencing the Trust's historical or future performance are
statements of the opinion of Trust management as of the date of this report.
These statements should not be relied upon for any other purposes. Past
performance is no guarantee of future results, and there is no guarantee that
market forecasts discussed will be realized.


   Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     3


Portfolio Management Discussion | 3/31/10

After weathering one of the most dramatic downturns in history, municipal bonds
made a strong comeback over the fiscal year ended March 31, 2010. In the
following interview, David Eurkus, who is responsible for the daily management
of Pioneer Municipal High Income Advantage Trust, discusses some of the factors
that affected the municipal bond market and the Trust over the 12 months ended
March, 31, 2010.

Q    How did the Trust perform over the 12-month period ended March 31, 2010?

A    Pioneer Municipal High Income Advantage Trust produced a total return of
     44.36% at net asset value over the 12 months ended March 31, 2010, and
     57.76% at market price; and the Trust's shares were selling at a 7.0%
     premium of market price to net asset value at the end of the 12-month
     period. Over the same 12 months, the Trust's benchmarks, the Barclays
     Capital (formerly Lehman Brothers) Municipal Bond Index, which tracks the
     performance of investment-grade bonds, returned 9.69%; and the Barclays
     Capital High Yield Municipal Bond Index, which tracks the performance of
     below-investment-grade bonds, returned 28.32%. On March 31, 2010, the Trust
     held 149 issues in 37 states, territories and the District of Columbia.

     During the 12-month period, investors earned a relatively high level of
     dividend income. The Trust's 30-day SEC yield was 8.44% on March 31, 2010,
     and its current dividend yield based on market close was 7.79%. This
     translates into a taxable equivalent yield of 11.98%, based on the maximum
     Federal income tax rate of 35%. Approximately 19.65% of the Trust's
     investments were subject to the Federal Alternative Minimum Tax (AMT).

Q    What was the investment environment like during the 12 months ended March
     31, 2010?

A    As the financial crisis eased and the economy appeared to be on a path to
     recovery, investors moved out of low-yielding tax-exempt money market funds
     and into relatively high-yielding tax-exempt municipal bonds. At a time
     when demand for tax-exempt bonds rose, supply of those bonds declined, as a
     substantial portion of new bond issuance was in Build America Bonds, which
     are taxable municipal bonds subsidized by the U.S. Government. This
     attractive supply/demand dynamic drove up prices of tax-free municipal
     bonds, and both investment-grade and below-investment-grade issues
     benefited.


4     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


Q    How did you manage the Trust in that investment environment?

A    We remained fully invested and diversified in sectors that underpin the
     economy. Early in the period, we had positioned the Trust's portfolio to
     take advantage of bonds that had fallen out of favor with investors in the
     poor economic environment which prevailed at the end of 2008 and into early
     2009. We felt that many areas of the market were oversold, and we took
     advantage of the lower prices to add to the Trust's positions in health
     care, transportation, and tobacco, among other sectors and industries. At
     the end of the 12-month period, 33.7% of the Trust's total investment
     portfolio was in health care; 29% of the Trust's total investment portfolio
     was in transportation, which included airline bonds; and 10.9% of the
     Trust's total investment portfolio was in tobacco bonds. The Trust also had
     investments in education, housing, pollution control, public power and
     water and sewer bonds. We continued to favor revenue bonds, which, in order
     to make interest and principal payments, depend upon revenues from the
     particular asset the bond was issued to finance. For example, a bond issued
     to fund a continuing care retirement community is backed by the revenue
     that accrues from users of that facility. At March 31, 2010, 48% of the
     Trust's total investment portfolio was invested in investment-grade bonds,
     and 50% of the Trust's total investment portfolio was in
     below-investment-grade bonds. The Trust also had a 2.0% cash position at
     period end.

     Both investment-grade and below-investment-grade bonds aided the Trust's
     performance over the 12-month period ended March 31, 2010, with below-
     investment-grade bonds providing the biggest boost. There were few
     disappointments in the Trust's portfolio during the period, but we did sell
     a position in Brazos River Authority because of credit concerns; and among
     the Trust's education holdings, two charter schools underperformed because
     of cash flow problems.

Q    What is your outlook?

A    We are positive in our outlook for municipal bonds. While the market may
     moderate after the dramatic run-up of the past 12 months, we believe there
     are reasons for optimism. The economy is improving, inflation is not
     currently a problem and interest rates remain low. The supply of new tax-
     exempt bonds may continue to contract, as municipalities favor issuing
     taxable Build America Bonds, which, as noted previously, are subsidized by
     the U.S. Government. In addition, the potential for higher tax rates is
     likely to boost demand for municipal securities. Against that backdrop, we
     believe that municipal bonds have the potential to provide appropriate
     investors with a relatively high level of tax-free income as well as the
     potential for healthy returns.


   Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     5


Please refer to the Schedule of Investments on pages 10-20 for a full listing
of Trust securities.

Investments in high-yield or lower-rated securities are subject to
greater-than-average risk. The Trust may invest in securities of issuers that
are in default or that are in bankruptcy.

A portion of income may be subject to state, federal, and/or alternative
minimum tax. Capital gains, if any, are subject to a capital gains tax. When
interest rates rise, the prices of fixed-income securities in the Trust will
generally fall. Conversely, when interest rates fall, the prices of
fixed-income securities in the Trust will generally rise. By concentrating in
municipal securities, the portfolio is more susceptible to adverse economic,
political or regulatory developments than is a portfolio that invests more
broadly. Investments in the Trust are subject to possible loss due to the
financial failure of underlying securities and their inability to meet their
debt obligations.

The Trust uses leverage through the issuance of preferred shares. Leverage
creates significant risks, including the risk that the Trust's income or
capital appreciation will not be sufficient to cover the cost of leverage,
which may adversely affect the return for the holders of common shares. Since
February of 2008, regularly scheduled auctions for the Trust's preferred shares
have failed and preferred shareowners have not been able to sell their shares
at auction. The Board of Trustees of the Trust has considered, and continues to
consider, this issue.

The Trust is required to maintain certain regulatory and rating agency asset
coverage requirements in connection with its outstanding preferred shares. In
order to maintain required asset coverage levels, the Trust may be required to
alter the composition of its investment portfolio or take other actions, such
as redeeming preferred shares with the proceeds from portfolio transactions, at
what might be inopportune times in the market. Such actions could reduce the
net earnings or returns to holders of the Trust's common shares over time.

Risks of investing in the Trust are discussed in greater detail in the Trust's
original offering documents relating to its common shares and shareowner
reports issued from time to time.

Past performance is no guarantee of future results, and there is no guarantee
that market forecasts discussed will be realized.

Any information in this shareowner report regarding market or economic trends
or the factors influencing the Trust's historical or future performance are
statements of the opinion of Trust management as of the date of this report.
These statements should not be relied upon for any other purposes.


6     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


Portfolio Summary | 3/31/10

Portfolio Diversification
--------------------------------------------------------------------------------
(As a percentage of total investment portfolio)

[THE DATA IS A REPRESENTATION OF A PIE CHART IN THE PRINTED MATERIAL]


                                       
Health Revenue                            33.7%
Insured                                   11.6%
Airport Revenue                           11.2%
Tobacco Revenue                           10.9%
Other Revenue                              9.2%
Pollution Control Revenue                  6.5%
Development Revenue                        5.1%
Housing Revenue                            2.9%
Facilities Revenue                         2.5%
Transportation Revenue                     2.5%
Water Revenue                              1.2%
Education Revenue                          1.2%
Power Revenue                              1.1%
Airline Revenue                            0.4%


Portfolio Maturity
--------------------------------------------------------------------------------
(As a percentage of long-term holdings)

[THE DATA IS A REPRESENTATION OF A PIE CHART IN THE PRINTED MATERIAL]


                                        
0-1 year                                   5.6%
1-3 years                                 17.5%
3-6 years                                 15.5%
6-8 years                                 10.4%
8-10 years                                12.7%
10+ years                                 38.3%


Quality Distribution
--------------------------------------------------------------------------------
(As a percentage of total investment portfolio; based on S&P ratings)

[THE DATA IS A REPRESENTATION OF A PIE CHART IN THE PRINTED MATERIAL]


                                       
AAA                                       14.0%
AA                                         4.7%
A                                          4.6%
BBB                                       24.7%
BB                                         6.5%
B                                          6.9%
CCC                                        3.9%
C                                          1.0%
D                                          0.1%
Not Rated                                 31.6%
Cash Equivalents                           2.0%


The portfolio is actively managed and current holdings may be different.

   Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     7


Prices and Distributions | 3/31/10

Share Prices and Distributions
--------------------------------------------------------------------------------

Market Value per Common Share
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
                       3/31/10                     3/31/09
--------------------------------------------------------------------------------
                                              
                        $13.10                      $9.04
--------------------------------------------------------------------------------


Net Asset Value per Common Share
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
                       3/31/10                     3/31/09
--------------------------------------------------------------------------------
                                              
                        $12.24                      $9.23
--------------------------------------------------------------------------------


Distributions per Common Share
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
                        Net
                     Investment           Short-Term            Long-Term
                       Income           Capital Gains         Capital Gains
--------------------------------------------------------------------------------
                                                          
4/1/09-3/31/10         $0.9600               $ --                  $ --
--------------------------------------------------------------------------------


10 Largest Holdings
--------------------------------------------------------------------------------
(As a percentage of long-term holdings)*


                                                                              
 1.  New Jersey Economic Development Authority Revenue, 6.25%, 9/15/29              2.90%
-----------------------------------------------------------------------------------------
 2.  University of California, RIB, 12.988%, 5/15/38                                2.55
-----------------------------------------------------------------------------------------
 3.  Massachusetts Housing Finance Agency, 5.35%, 12/1/45                           2.50
-----------------------------------------------------------------------------------------
 4.  Indiana State Development Finance Authority Revenue, 5.75%, 10/1/11            2.45
-----------------------------------------------------------------------------------------
 5.  North Texas Tollway Authority Revenue, 5.75%, 1/1/33                           2.42
-----------------------------------------------------------------------------------------
 6.  Houston Texas Airport System Special Facilities Revenue, 6.75%, 7/1/29         2.35
-----------------------------------------------------------------------------------------
 7.  Non-Profit Preferred Funding Trust I, Series E, 12.0%, 9/15/37 (144A)          2.30
-----------------------------------------------------------------------------------------
 8.  Tobacco Settlement Financing Corp., 5.875%, 5/15/39                            2.09
-----------------------------------------------------------------------------------------
 9.  South Carolina Jobs Economic Development Authority Revenue, 6.375%, 8/1/34     1.98
-----------------------------------------------------------------------------------------
10.  California State Various Purpose, RIB, 12.641%, 6/1/37 (144A)                  1.96
-----------------------------------------------------------------------------------------


* This list excludes temporary cash. The portfolio is actively managed, and
  currently holdings may be different. The holdings listed should not be
  considered recommendations to buy or sell any security listed.


8     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


Performance Update | 3/31/10

Investment Returns
--------------------------------------------------------------------------------
The mountain chart on the right shows the change in market value, including
reinvestment of dividends and distributions, of a $10,000 investment made in
common shares of Pioneer Municipal High Income Advantage Trust, compared to
that of the Barclays Capital Municipal Bond Index and the Barclays Capital High
Yield Municipal Bond Index.

Cumulative Total Returns
(As of March 31, 2010)


--------------------------------------------------
                            Net Asset       Market
 Period                     Value           Price
--------------------------------------------------
                                      
 Life-of-Trust
 (10/17/2003)               36.00%          39.06%
 5 Years                    19.06           29.82
 1 Year                     44.36           57.76
--------------------------------------------------


[THE DATA IS A REPRESENTATION OF A MOUNTAIN CHART IN THE PRINTED MATERIAL]

Value of $10,000 Investment



             Pioneer Municipal    Barclays Capital     Barclays Capital
                High Income        Municipal Bond    High Yield Municipal
              Advantage Trust          Index             Bond Index
                                                   
10/03             10,000               10,000               10,000
3/04              10,293               10,364               10,740
3/05              10,712               10,641               11,727
3/06              11,949               11,046               12,796
3/07              13,169               11,645               14,056
3/08              12,312               11,867               13,143
3/09               8,815               12,137               10,625
3/10              13,906               13,313               13,633


Call 1-800-225-6292 or visit www.pioneerinvestments.com for the most recent
month-end performance results. Current performance may be lower or higher than
the performance data quoted.

Performance data shown represents past performance. Past performance is no
guarantee of future results. Investment return and market price will fluctuate,
and your shares may trade below net asset value (NAV) due to such factors as
interest rate changes and the perceived credit quality of borrowers.

Total investment return does not reflect broker sales charges or commissions.
All performance is for common shares of the Trust.

Closed-end funds, unlike open-end funds, are not continuously offered. There is
a one-time public offering and, once issued, shares of closed-end funds are
sold in the open market through a stock exchange, and frequently trade at
prices lower than their NAV. NAV per common share is total assets less total
liabilities, which includes preferred shares divided by the number of common
shares outstanding.

When NAV is lower than market price, dividends are assumed to be reinvested at
the greater of NAV or 95% of the market price. When NAV is higher, dividends
are assumed to be reinvested at prices obtained under the Trust's dividend
reinvestment plan.

The performance table and graph do not reflect the deduction of fees and taxes
that a shareowner would pay on Trust distributions or the sale of Trust shares.

Index comparison begins October 31, 2003. The Barclays Capital Municipal Bond
Index is a broad measure of the municipal bond market. Barclays Capital High
Yield Municipal Bond Index totals over $26 billion in market value and
maintains over 1300 securities. Municipal bonds in this index have the
following requirements: maturities of one year or greater, sub investment grade
(below Baa or non-rated), fixed coupon rate, issue date later than 12/31/90,
deal size over $20 million, maturity size of at least $3 million. Index returns
are calculated monthly, assume reinvestment of dividends and, unlike Trust
returns, do not reflect any fees, expenses or sales charges. The indices are
not leveraged. You cannot invest directly in the indices.


   Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     9


Schedule of Investments | 3/31/10



------------------------------------------------------------------------------------------------------
                      S&P/Moody's
Principal             Ratings
Amount                (unaudited)                                                        Value
------------------------------------------------------------------------------------------------------
                                                                                
                                  TAX-EXEMPT OBLIGATIONS -- 143.9% of Net Assets
                                  Alabama -- 0.7%
$   2,500,000          NR/NR      Huntsville-Redstone Village Special Care Facilities
                                  Financing Authority, 5.5%, 1/1/43                      $   1,861,850
------------------------------------------------------------------------------------------------------
                                  Arizona -- 3.4%
    5,000,000          NR/NR      Casa Grande Industrial Development Authority Hospital
                                  Revenue, 7.625%, 12/1/29                               $   4,917,350
    1,531,000         NR/Baa3     Pima County Industrial Development Authority,
                                  6.75%, 7/1/31                                              1,433,521
    2,640,000          NR/NR      Pima County Industrial Development Authority,
                                  7.0%, 1/1/38                                               2,406,703
    1,000,000          NR/NR      San Luis Facility Development Corp., 7.25%, 5/1/27           918,280
                                                                                         -------------
                                                                                         $   9,675,854
------------------------------------------------------------------------------------------------------
                                  California -- 12.2%
    3,140,000(a)       AAA/NR     California State University Revenue, RIB, 12.678%,
                                  11/1/39 (144A)                                         $   3,200,351
    2,425,000         A-/Baa1     California State Various Purpose, 5.75%, 4/1/31            2,511,087
    8,575,000(a)       AAA/NR     California State Various Purpose, RIB, 12.641%,
                                  6/1/37 (144A)                                              8,145,650
      803,175(b)       NR/NR      California Statewide Communities Development
                                  Authority, 9.0%, 12/1/38                                     156,619
    2,680,000+        AAA/Aaa     Golden State Tobacco Securitization Corp.,
                                  6.75%, 6/1/39                                              3,117,992
    2,500,000           A/A2      San Jose California Airport Revenue, 5.0%, 3/1/37          2,348,725
   10,500,000(a)       AAA/NR     University of California, RIB, 12.988%, 5/15/38           10,631,040
    7,670,000(b)        C/NR      Valley Health System Hospital Revenue,
                                  6.875%, 5/15/23                                            4,212,671
                                                                                         -------------
                                                                                         $  34,324,135
------------------------------------------------------------------------------------------------------
                                  Colorado -- 1.1%
    2,850,000+         NR/NR      Denver Health & Hospital Authority Healthcare
                                  Revenue, 6.0%, 12/1/31                                 $   3,091,366
------------------------------------------------------------------------------------------------------
                                  Connecticut -- 2.8%
    7,750,000         BBB/Baa1    Connecticut State Development Authority Revenue,
                                  5.75%, 11/1/37                                         $   7,751,395
------------------------------------------------------------------------------------------------------
                                  District of Columbia -- 3.4%
    2,700,000         BBB/Baa3    District of Columbia Tobacco Settlement Financing
                                  Corp., 6.5%, 5/15/33                                   $   2,621,268
    6,825,000         BBB/Baa3    District of Columbia Tobacco Settlement Financing
                                  Corp., 6.75%, 5/15/40                                      6,824,317
                                                                                         -------------
                                                                                         $   9,445,585
------------------------------------------------------------------------------------------------------
                                  Florida -- 3.7%
    4,500,000         BBB/Baa1    Hillsborough County Industrial Development Authority
                                  Pollution Control Revenue, 5.5%, 10/1/23               $   4,581,855


The accompanying notes are an integral part of these financial statements.


10     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10




------------------------------------------------------------------------------------------------------
                     S&P/Moody's
Principal            Ratings
Amount               (unaudited)                                                         Value
------------------------------------------------------------------------------------------------------
                                                                                
                                  Florida -- (continued)
$  1,980,000           NR/NR      Hillsborough County Industrial Development Authority
                                  Revenue, 6.75%, 7/1/29                                 $   1,822,135
   1,000,000          BBB/Aaa     Hillsborough County Industrial Development Authority
                                  Revenue, 8.0%, 8/15/32                                     1,116,150
     500,000           NR/NR      Miami Beach Health Facilities Authority,
                                  5.375%, 11/15/28                                             410,715
   2,500,000           A-/A2      Miami-Dade County Florida Aviation Revenue,
                                  5.5%, 10/1/41                                              2,520,250
                                                                                         -------------
                                                                                         $  10,451,105
------------------------------------------------------------------------------------------------------
                                  Georgia -- 4.1%
   5,210,000(a)        NR/Aa3     Atlanta Georgia Water and Wastewater Revenue, RIB,
                                  12.641%, 11/1/43 (144A)                                $   5,215,366
   1,000,000          CCC+/NR     Clayton County Development Authority Special
                                  Facilities Revenue, 9.0%, 6/1/35                           1,024,240
   1,065,000           NR/Ba3     Effingham County Industrial Development Authority,
                                  6.5%, 6/1/31                                               1,054,020
   3,360,000           NR/NR      Fulton County Residential Care Facilities,
                                  7.0%, 7/1/29                                               2,534,549
   1,650,000           NR/NR      Savannah Georgia Economic Development Authority
                                  Revenue, 7.4%, 1/1/34                                      1,633,352
                                                                                         -------------
                                                                                         $  11,461,527
------------------------------------------------------------------------------------------------------
                                  Guam -- 1.9%
   4,500,000+          AAA/B2     Northern Mariana Islands, 6.75%, 10/1/33               $   5,248,665
------------------------------------------------------------------------------------------------------
                                  Idaho -- 1.8%
   2,000,000         BBB+/Baa1    Power County Industrial Development Corp.,
                                  6.45%, 8/1/32                                          $   2,000,260
   3,000,000         BBB+/Baa1    Power County Pollution Control Revenue,
                                  5.625%, 10/1/14                                            2,981,790
                                                                                         -------------
                                                                                         $   4,982,050
------------------------------------------------------------------------------------------------------
                                  Illinois -- 6.7%
   3,000,000(c)        NR/NR      Centerpoint Intermodal Center, 7.5%,
                                  6/15/23 (144A)                                         $   3,008,730
   3,000,000+         AA-/Aa3     City of Chicago Illinois, 5.0%, 1/1/28                     3,384,930
   2,000,000          NR/Caa2     City of Chicago Illinois, 5.5%, 12/1/30                    1,411,700
   1,450,000           A+/A1      Illinois Finance Authority Revenue, 5.5%, 4/1/39           1,429,323
   2,000,000           AAA/NR     Illinois Finance Authority Revenue, 6.0%, 8/15/25          2,080,660
   1,000,000           NR/NR      Illinois Finance Authority Revenue, 6.0%, 11/15/27           779,560
   2,000,000          AA+/Aa2     Illinois Finance Authority Revenue, 6.0%, 8/15/39          2,163,620
   2,500,000           NR/NR      Illinois Finance Authority Revenue, 6.125%, 11/15/25       2,180,675
   1,500,000(b)        NR/NR      Illinois Health Facilities Authority Revenue,
                                  6.9%, 11/15/33                                               644,100


The accompanying notes are an integral part of these financial statements.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     11


Schedule of Investments | 3/31/10 (continued)



------------------------------------------------------------------------------------------------------
                    S&P/Moody's
Principal           Ratings
Amount              (unaudited)                                                          Value
------------------------------------------------------------------------------------------------------
                                                                                
                                Illinois -- (continued)
$ 2,615,000          NR/NR      Southwestern Illinois Development Authority Revenue,
                                5.625%, 11/1/26                                          $   1,849,668
                                                                                         -------------
                                                                                         $  18,932,966
------------------------------------------------------------------------------------------------------
                                Indiana -- 5.9%
    250,000         BBB/Baa3    East Chicago Indiana Exempt Facilities Revenue,
                                7.0%, 1/1/14                                             $     239,695
 10,000,000          BBB/NR     Indiana State Development Finance Authority Revenue,
                                5.75%, 10/1/11                                              10,216,800
  5,000,000          NR/Ba3     Jasper County Industrial Economic Development
                                Revenue, 5.6%, 4/1/29                                        4,543,400
  1,995,000          NR/NR      Vincennes Industrial Economic Development Revenue,
                                6.25%, 1/1/24                                                1,657,566
                                                                                         -------------
                                                                                         $  16,657,461
------------------------------------------------------------------------------------------------------
                                Kentucky -- 1.5%
    500,000          BB-/NR     Kentucky Economic Development Finance Authority
                                Hospital System Revenue, 5.7%, 10/1/10                   $     500,000
  4,400,000          BB-/NR     Kentucky Economic Development Finance Authority
                                Hospital System Revenue, 5.875%, 10/1/22                     3,864,388
                                                                                         -------------
                                                                                         $   4,364,388
------------------------------------------------------------------------------------------------------
                                Louisiana -- 6.2%
  2,500,000          BB/Ba3     Louisiana Local Government Environmental Facilities
                                Development Authority Revenue, 6.75%, 11/1/32            $   2,598,850
  6,000,000         NR/Baa1     Louisiana Public Facilities Authority Revenue,
                                5.5%, 5/15/47                                                5,347,320
    750,000         BBB+/NR     Opelousas Louisiana General Hospital Authority
                                Revenue, 5.75%, 10/1/23                                        753,833
  9,415,000         BBB/Baa3    Tobacco Settlement Financing Corp.,
                                5.875%, 5/15/39                                              8,706,992
                                                                                         -------------
                                                                                         $  17,406,995
------------------------------------------------------------------------------------------------------
                                Maryland -- 0.4%
    460,000          NR/NR      Maryland Health & Higher Educational Facilities
                                Authority Revenue, 5.25%, 1/1/27                         $     374,233
  1,250,000          NR/NR      Maryland Health & Higher Educational Facilities
                                Authority Revenue, 5.3%, 1/1/37                                878,463
                                                                                         -------------
                                                                                         $   1,252,696
------------------------------------------------------------------------------------------------------
                                Massachusetts -- 7.5%
    830,000          BB/NR      Massachusetts Development Finance Agency,
                                5.25%, 10/1/18                                           $     726,026
  5,000,000          NR/NR      Massachusetts Development Finance Agency,
                                5.75%, 1/1/42                                                5,295,500
  1,955,000          NR/NR      Massachusetts Development Finance Agency,
                                7.1%, 7/1/32                                                 1,790,643


The accompanying notes are an integral part of these financial statements.


12     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10




------------------------------------------------------------------------------------------------------
                    S&P/Moody's
Principal           Ratings
Amount              (unaudited)                                                          Value
------------------------------------------------------------------------------------------------------
                                                                                
                                 Massachusetts -- (continued)
$   2,195,000       BBB-/Baa3    Massachusetts Health & Educational Facilities
                                 Authority Revenue, 5.375%, 7/15/28                      $   1,896,963
    1,000,000+       NR/Baa3     Massachusetts Health & Educational Facilities
                                 Authority Revenue, 6.35%, 7/15/32                           1,128,150
   10,760,000        AA-/Aa3     Massachusetts Housing Finance Agency,
                                 5.35%, 12/1/45                                             10,410,192
                                                                                         -------------
                                                                                         $  21,247,474
------------------------------------------------------------------------------------------------------
                                 Michigan -- 3.5%
    1,500,000+        AAA/A3     Delta County Michigan Economic Development Corp.,
                                 6.25%, 4/15/27                                          $   1,650,855
      500,000         NR/Ba1     Flint Michigan Hospital Building Authority Revenue,
                                 7.375%, 7/1/35                                                500,700
    3,000,000+        NR/NR      Macomb County Hospital Finance Authority Revenue,
                                 5.875%, 11/15/34                                            3,470,190
      745,000         NR/NR      Michigan Public Educational Facilities Authority
                                 Revenue, 7.0%, 10/1/36                                        664,264
    4,130,000        BB-/Ba3     Michigan State Hospital Finance Authority Revenue,
                                 5.5%, 8/15/23                                               3,574,680
    3,405,000(d)(e)   NR/NR      Wayne Charter Escrow, 0.0%, 12/1/15                                --
                                                                                         -------------
                                                                                         $   9,860,689
------------------------------------------------------------------------------------------------------
                                 Missouri -- 1.5%
    1,850,000         NR/NR      Kansas City Industrial Development Authority Revenue,
                                 5.875%, 1/1/37 (144A)                                   $   1,485,162
    1,500,000(b)      NR/Ca      St. Louis Industrial Development Authority Revenue,
                                 7.2%, 12/15/28                                                480,000
    6,640,000(b)      NR/Ca      St. Louis Industrial Development Authority Revenue,
                                 7.25%, 12/15/35                                             2,124,800
                                                                                         -------------
                                                                                         $   4,089,962
------------------------------------------------------------------------------------------------------
                                 Montana -- 0.5%
    2,445,000(f)      NR/NR      Hardin Increment Industrial Infrastructure Development
                                 Revenue, 0.0%, 9/1/31                                   $   1,342,452
    1,000,000(b)      NR/NR      Two Rivers Authority, Inc., Project Revenue,
                                 7.375%, 11/1/27                                               175,200
                                                                                         -------------
                                                                                         $   1,517,652
------------------------------------------------------------------------------------------------------
                                 Nevada -- 2.2%
    1,500,000          A/A2      Henderson Nevada Health Care Facilities Revenue,
                                 5.625%, 7/1/24                                          $   1,527,900
    1,600,000(b)      NR/NR      Nevada State Department of Business & Industry,
                                 7.25%, 1/1/23                                                  64,000
    1,000,000(b)      NR/NR      Nevada State Department of Business & Industry,
                                 7.375%, 1/1/30                                                 40,000
    1,320,000(b)(g)   NR/NR      Nevada State Department of Business & Industry,
                                 7.375%, 1/1/40                                                 52,800


The accompanying notes are an integral part of these financial statements.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     13


Schedule of Investments | 3/31/10 (continued)



------------------------------------------------------------------------------------------------------
                     S&P/Moody's
Principal            Ratings
Amount               (unaudited)                                                                Value
------------------------------------------------------------------------------------------------------
                                                                                      
                              Nevada -- (continued)
$  5,000,000       A-/A3      Reno Nevada Hospital Revenue, 5.25%, 6/1/41                $   4,505,950
                                                                                         -------------
                                                                                         $   6,190,650
------------------------------------------------------------------------------------------------------
                              New Hampshire -- 0.4%
   1,125,000       NR/NR      New Hampshire Health & Educational Facilities
                              Authority Revenue, 5.875%, 7/1/34                          $   1,055,239
------------------------------------------------------------------------------------------------------
                              New Jersey -- 12.0%
   2,500,000       NR/NR      Burlington County New Jersey Bridge Commission
                              Revenue, 5.625%, 1/1/38                                    $   2,121,600
  13,000,000        B/B3      New Jersey Economic Development Authority Revenue,
                              6.25%, 9/15/29                                                12,088,960
   3,500,000(a)    NR/Aa3     New Jersey State Turnpike Authority, RIB,
                              13.402%, 1/1/28 (144A)                                         4,733,820
  10,375,000      AA+/Aa1     New Jersey Transportation Trust Fund Authority
                              Revenue, 0.0%, 12/15/27                                        4,137,654
   1,000,000+     AAA/Aaa     Tobacco Settlement Financing Corp., 6.25%, 6/1/43              1,151,370
   3,250,000+     AAA/Aaa     Tobacco Settlement Financing Corp., 6.75%, 6/1/39              3,792,165
   5,000,000+     AAA/Aaa     Tobacco Settlement Financing Corp., 7.0%, 6/1/41               5,871,000
                                                                                         -------------
                                                                                         $  33,896,569
------------------------------------------------------------------------------------------------------
                              New York -- 7.2%
   1,800,000       NR/NR      Dutchess County Industrial Development Agency,
                              7.5%, 3/1/29                                               $   1,773,054
   1,000,000       NR/NR      Nassau County New York Industrial Development
                              Agency Revenue, 6.7%, 1/1/43                                     919,730
   5,000,000       BB-/B1     New York City Industrial Development Agency,
                              5.25%, 12/1/32                                                 3,607,350
   3,950,000       BB-/B1     New York City Industrial Development Agency,
                              7.625%, 12/1/32                                                3,882,574
   2,000,000       NR/Ba1     New York State Dormitory Authority Revenue,
                              6.125%, 12/1/29                                                1,949,640
   5,000,000      AAA/Aaa     New York State Environmental Facilities Corp.,
                              5.0%, 6/15/33                                                  5,129,050
   3,000,000       NR/NR      Ulster County New York Industrial Development Agency,
                              6.0%, 9/15/27                                                  2,678,100
     500,000       NR/NR      Ulster County New York Industrial Development Agency,
                              6.0%, 9/15/37                                                    402,975
                                                                                         -------------
                                                                                         $  20,342,473
------------------------------------------------------------------------------------------------------
                              North Carolina -- 2.0%
   6,000,000       NR/NR      Charlotte North Carolina Special Facilities Revenue,
                              7.75%, 2/1/28                                              $   5,585,940
------------------------------------------------------------------------------------------------------
                              Ohio -- 1.7%
   2,375,000       B-/NR      Belmont County Health System Revenue,
                              5.7%, 1/1/13                                               $   1,728,691


The accompanying notes are an integral part of these financial statements.


14     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10




------------------------------------------------------------------------------------------------------
                     S&P/Moody's
Principal            Ratings
Amount               (unaudited)                                                            Value
------------------------------------------------------------------------------------------------------
                                                                                
                                  Ohio -- (continued)
$  1,000,000           B-/NR      Belmont County Health System Revenue,
                                  5.8%, 1/1/18                                           $     728,360
   3,000,000          CCC+/B3     Cleveland Airport Special Revenue, 5.375%, 9/15/27         2,450,400
                                                                                         -------------
                                                                                         $   4,907,451
------------------------------------------------------------------------------------------------------
                                  Oklahoma -- 2.8%
   1,500,000           BB/NR      Jackson County Memorial Hospital Authority Revenue,
                                  7.3%, 8/1/15                                           $   1,500,870
   2,220,000          B-/Caa2     Tulsa Municipal Airport Trust Revenue, 6.25%, 6/1/20       1,988,365
   1,500,000          B-/Caa2     Tulsa Municipal Airport Trust Revenue,
                                  7.35%, 12/1/11                                             1,499,850
   3,000,000(c)       B-/Caa2     Tulsa Municipal Airport Trust Revenue, 7.75%, 6/1/35       3,001,140
                                                                                         -------------
                                                                                         $   7,990,225
------------------------------------------------------------------------------------------------------
                                  Oregon -- 1.1%
   3,000,000           A-/NR      Oregon State Facilities Authority Revenue,
                                  5.25%, 10/1/40                                         $   2,986,440
------------------------------------------------------------------------------------------------------
                                  Pennsylvania -- 9.9%
   3,000,000+          AAA/NR     Allegheny County Hospital Development Authority
                                  Revenue, 9.25%, 11/15/22                               $   3,224,370
     500,000+          AAA/NR     Allegheny County Hospital Development Authority
                                  Revenue, 9.25%, 11/15/30                                     537,395
   1,000,000          BBB-/NR     Clarion County Hospital Authority Revenue,
                                  5.625%, 7/1/21                                             1,000,520
   3,600,000           CCC/NR     Columbia County Hospital Authority Revenue,
                                  5.85%, 6/1/24                                              3,182,616
     945,000          BBB/Ba2     Hazleton Health Services Authority Hospital Revenue,
                                  6.125%, 7/1/16                                               930,239
   1,405,000          NR/Baa3     Montgomery County Higher Education & Health
                                  Authority Hospital Revenue, 6.6%, 7/1/10                   1,410,606
   1,430,000           BB/NR      Pennsylvania Economic Development Financing
                                  Authority Revenue, 5.125%, 6/1/18                          1,271,585
   1,805,000           BB/NR      Pennsylvania Economic Development Financing
                                  Authority Revenue, 5.3%, 6/1/10                            1,798,646
   2,330,000           BB/NR      Pennsylvania Economic Development Financing
                                  Authority Revenue, 5.35%, 6/1/11                           2,279,020
   5,000,000          B+/Caa1     Pennsylvania Economic Development Financing
                                  Authority Revenue, 6.0%, 6/1/31                            4,091,700
   5,000,000          BBB/Baa3    Philadelphia Hospitals & Higher Education Facilities
                                  Authority Revenue, 5.0%, 7/1/34                            3,997,550
   2,005,000           B-/NR      Scranton-Lackawanna Health & Welfare Authority
                                  Revenue, 6.1%, 7/1/11                                      1,970,153
   2,245,000           B-/NR      Scranton-Lackawanna Health & Welfare Authority
                                  Revenue, 6.15%, 7/1/12                                     2,177,560
                                                                                         -------------
                                                                                         $  27,871,960
------------------------------------------------------------------------------------------------------


The accompanying notes are an integral part of these financial statements.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     15


Schedule of Investments | 3/31/10 (continued)



------------------------------------------------------------------------------------------------------
                     S&P/Moody's
Principal            Ratings
Amount               (unaudited)                                                          Value
------------------------------------------------------------------------------------------------------
                                                                                
                                  Rhode Island -- 3.1%
$  1,385,000           NR/NR      Central Falls Rhode Island Detention Facilities
                                  Revenue, 7.25%, 7/15/35                                 $  1,188,164
   8,285,000          BBB/Baa3    Tobacco Settlement Financing Corp., 6.25%, 6/1/42          7,591,628
                                                                                          ------------
                                                                                          $  8,779,792
------------------------------------------------------------------------------------------------------
                                  South Carolina -- 6.4%
   1,500,000(b)         D/NR      Connector 2000 Association, Inc., Toll Road Revenue,
                                  5.375%, 1/1/38                                          $    344,775
   7,140,000+        BBB+/Baa1    South Carolina Jobs Economic Development Authority
                                  Revenue, 6.375%, 8/1/34                                    8,249,770
     860,000+        BBB+/Baa1    South Carolina Jobs Economic Development Authority
                                  Revenue, 6.375%, 8/1/34                                      997,316
   3,000,000+          AAA/NR     South Carolina Jobs Economic Development Authority
                                  Revenue, 8.0%, 10/1/31                                     3,164,190
   4,400,000(h)       BBB/Baa3    Tobacco Settlement Revenue Management,
                                  6.375%, 5/15/30                                            5,274,632
                                                                                          ------------
                                                                                          $ 18,030,683
------------------------------------------------------------------------------------------------------
                                  Tennessee -- 3.8%
   1,000,000+          NR/A2      Johnson City Health & Educational Facilities Board
                                  Hospital Revenue, 7.5%, 7/1/33                          $  1,119,790
   7,000,000           NR/A1      Knox County Health Educational & Housing Facilities
                                  Board Hospital Revenue, 6.5%, 4/15/31                      7,388,290
   2,400,000          BBB+/NR     Sullivan County Health Educational and Housing
                                  Facilities Board Hospital Revenue, 5.25%, 9/1/36           2,148,240
                                                                                          ------------
                                                                                          $ 10,656,320
------------------------------------------------------------------------------------------------------
                                  Texas -- 16.6%
   2,827,399(b)        NR/NR      Gulf Coast Industrial Development Authority,
                                  7.0%, 12/1/36                                           $    551,343
  10,000,000          CCC+/B3     Houston Texas Airport System Special Facilities
                                  Revenue, 6.75%, 7/1/29                                     9,798,400
     960,000           NR/NR      IAH Public Facility Corp., Project Revenue Bonds,
                                  Series 2006, 6.0%, 5/1/16                                    884,362
   1,000,000           NR/NR      IAH Public Facility Corp., Project Revenue Bonds,
                                  Series 2006, 6.0%, 5/1/21                                    830,240
   1,350,000           NR/NR      IAH Public Facility Corp., Project Revenue Bonds,
                                  Series 2006, 6.125%, 5/1/26                                1,066,095
   2,750,000          AAA/Aa3     Lower Colorado River Authority, 5.0%, 5/15/31              2,773,512
     845,000           NR/NR      Lubbock Health Facilities Development Corp.,
                                  6.5%, 7/1/26                                                 758,235
   2,000,000           NR/NR      Lubbock Health Facilities Development Corp.,
                                  6.625%, 7/1/36                                             1,773,780
   7,750,000(c)       BBB-/Ba1    Matagorda County Navigation District Number 1
                                  Revenue, 5.95%, 5/1/30                                     7,562,527


The accompanying notes are an integral part of these financial statements.


16     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10




------------------------------------------------------------------------------------------------------
                      S&P/Moody's
Principal             Ratings
Amount                (unaudited)                                                        Value
------------------------------------------------------------------------------------------------------
                                                                                
                                   Texas -- (continued)
$   9,750,000          BBB+/A3     North Texas Tollway Authority Revenue,
                                   5.75%, 1/1/33                                         $  10,075,065
    1,711,000           NR/Aaa     Panhandle Regional Housing Finance Corp. Multifamily
                                   Housing Revenue, 6.6%, 7/20/31                            1,812,223
    1,000,000          BB+/Baa2    Richardson Hospital Authority Revenue,
                                   6.0%, 12/1/34                                               930,750
    1,000,000           NR/NR      Tarrant County Cultural Education Facilities Finance
                                   Corp., 8.125%, 11/15/39                                     978,830
    1,500,000           NR/NR      Tarrant County Cultural Education Facilities Finance
                                   Corp., 8.25%, 11/15/44                                    1,473,705
    1,000,000           BB/NR      Texas Midwest Public Facility Corp. Revenue,
                                   9.0%, 10/1/30                                             1,036,870
    4,700,000          NR/Baa3     Tomball Hospital Authority, 6.0%, 7/1/25                  4,487,325
                                                                                         -------------
                                                                                         $  46,793,262
------------------------------------------------------------------------------------------------------
                                   Utah -- 0.5%
    1,600,000           NR/NR      Spanish Fork Charter School Revenue, 5.7%,
                                   11/15/36 (144A)                                       $   1,277,616
------------------------------------------------------------------------------------------------------
                                   Virginia -- 0.8%
    2,000,000         BBB+/Baa1    Washington County Industrial Development Authority
                                   Revenue, 7.75%, 7/1/38                                $   2,291,020
------------------------------------------------------------------------------------------------------
                                   Washington -- 3.2%
    1,195,000          BBB/Baa3    Tobacco Settlement Authority Revenue, 6.5%, 6/1/26    $   1,211,873
    2,000,000          BBB/Baa2    Washington State Health Care Facilities Authority,
                                   6.125%, 8/15/37                                           2,015,740
    2,000,000          BBB/Baa2    Washington State Health Care Facilities Authority,
                                   6.25%, 8/15/42                                            2,023,340
    5,000,000           NR/NR      Washington State Housing Finance Commission
                                   Nonprofit Revenue Bonds, 5.625%, 1/1/27                   3,728,200
                                                                                         -------------
                                                                                         $   8,979,153
------------------------------------------------------------------------------------------------------
                                   Wisconsin -- 1.4%
    2,900,000(b)(g)     NR/NR      Aztalan Wisconsin Exempt Facilities Revenue,
                                   7.50%, 5/1/18                                         $     399,040
    1,000,000           NR/NR      Wisconsin State Health & Educational Facilities
                                   Authority Revenue, 6.125%, 4/1/24                         1,002,280
    1,000,000           NR/NR      Wisconsin State Health & Educational Facilities
                                   Authority Revenue, 6.25%, 4/1/34                            956,970
    1,500,000           A+/A1      Wisconsin State Health & Educational Facilities
                                   Authority Revenue, 6.625%, 2/15/39                        1,616,010
                                                                                         -------------
                                                                                         $   3,974,300
------------------------------------------------------------------------------------------------------
                                   TOTAL TAX-EXEMPT OBLIGATIONS
                                   (Cost $402,037,665)                                   $ 405,232,908
------------------------------------------------------------------------------------------------------


The accompanying notes are an integral part of these financial statements.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     17


Schedule of Investments | 3/31/10 (continued)



---------------------------------------------------------------------------------------------------------------
                         S&P/Moody's
Principal                Ratings
Amount                   (unaudited)                                                              Value
---------------------------------------------------------------------------------------------------------------
                                                                                         
                                    MUNICIPAL COLLATERALIZED DEBT OBLIGATION -- 3.4% of Net Assets
$13,000,000(c)(g)        NR/NR      Non-Profit Preferred Funding Trust I, Series E, 12.0%,
                                    9/15/37 (144A)                                                $   9,565,400
---------------------------------------------------------------------------------------------------------------
                                    TOTAL MUNICIPAL COLLATERALIZED
                                    DEBT OBLIGATION
                                    (Cost $13,000,000)                                            $   9,565,400
---------------------------------------------------------------------------------------------------------------
Shares
---------------------------------------------------------------------------------------------------------------
                                    COMMON STOCK -- 0.6% of Net Assets
    109,889(d)                      Delta Airlines, Inc.                                          $   1,603,281
---------------------------------------------------------------------------------------------------------------
                                    TOTAL COMMON STOCK
                                    (Cost $3,210,349)                                             $   1,603,281
---------------------------------------------------------------------------------------------------------------
                                    TAX-EXEMPT MONEY MARKET MUTUAL FUND -- 3.0% of Net Assets
  8,500,000                         BlackRock Liquidity Funds MuniFund Portfolio                  $   8,500,000
---------------------------------------------------------------------------------------------------------------
                                    TOTAL TAX-EXEMPT MONEY MARKET MUTUAL FUND
                                    (Cost $8,500,000)                                             $   8,500,000
---------------------------------------------------------------------------------------------------------------
                                    TOTAL INVESTMENT IN SECURITIES -- 150.9%
                                    (Cost $426,748,014)(i)(j)                                     $ 424,901,589
---------------------------------------------------------------------------------------------------------------
                                    OTHER ASSETS AND LIABILITIES -- 2.4%                          $   6,654,687
---------------------------------------------------------------------------------------------------------------
                                    PREFERRED SHARES AT REDEMPTION VALUE,
                                    INCLUDING DIVIDENDS PAYABLE -- (53.3)%                        $(150,005,267)
---------------------------------------------------------------------------------------------------------------
                                    NET ASSETS APPLICABLE TO COMMON
                                    SHAREOWNERS -- 100.0%                                         $ 281,551,009
===============================================================================================================


(144A)  Security is exempt from registration under Rule 144A of the Securities
        Act of 1933. Such securities may be resold normally to qualified
        institutional buyers in a transaction exempt from registration. At March
        31, 2010, the value of these securities amounted to $36,632,095, or
        13.0% of total net assets applicable to common shareowners.

RIB     Residual Interest Bonds.

NR      Security not rated by S&P or Moody's.

+       Prerefunded bonds have been collateralized by U.S. Treasury or U.S.
        Government Agency securities which are held in escrow to pay interest
        and principal on the tax exempt issue and to retire the bonds in full at
        the earliest refunding date.

(a)     The interest rate is subject to change periodically and inversely based
        upon prevailing market rates. The rate shown is the coupon rate at March
        31, 2010.

(b)     Security is in default and is non-income producing.

(c)     The interest rate is subject to change periodically. The interest rate
        shown is the rate at March 31, 2010.

(d)     Non-income producing.

(e)     Security is fair valued (See Note 1A).

The accompanying notes are an integral part of these financial statements.


18     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


(f)     Debt obligation initially issued at one coupon rate which converts to a
        higher coupon rate at a specific date. The rate shown is the coupon rate
        at March 31, 2010.

(g)     Indicates a security that has been deemed illiquid. The aggregate cost
        of illiquid securities is $16,341,766. The aggregate value is
        $10,017,240, or 3.6% of the total net assets applied to common
        shareowners.

(h)     Escrow to maturity.

(i)     The concentration of investments by type of obligation/market sector is
        as follows (unaudited):


                                                                      
          Insured
            AGM                                                              8.0%
            AMBAC                                                            2.6
            MBIA                                                             1.0
            Q-SBLF                                                           0.2
          Revenue Bonds:
            Health Revenue                                                  33.8
            Airport Revenue                                                 11.3
            Tobacco Revenue                                                 10.9
            Other Revenue                                                    9.2
            Pollution Control Revenue                                        6.5
            Development Revenue                                              5.1
            Housing Revenue                                                  2.9
            Transportation Revenue                                           2.5
            Facilities Revenue                                               2.5
            Water Revenue                                                    1.2
            Education Revenue                                                1.2
            Power Revenue                                                    1.1
            Utilities Revenue*                                               0.0
                                                                           -----
                                                                           100.0%
                                                                           =====


        * Amount is less than 0.1%

(j)     At March 31, 2010, the net unrealized gain on investments based on cost
        for federal income tax purposes of $422,152,194 was as follows:


                                                                 
          Aggregate gross unrealized gain for all investments
            in which there is anexcess of value over tax cost       $37,752,837
          Aggregate gross unrealized loss for all investments
            in which there is anexcess of tax cost over value       (35,003,442)
                                                                    -----------
          Net unrealized gain                                       $ 2,749,395
                                                                    ===========


For financial reporting purposes net unrealized loss on investments was
$1,846,425 and cost of investments aggregated $426,748,014.

Purchases and sales of securities (excluding temporary cash investments) for
the year ended March 31, 2010 aggregated $39,595,955 and $30,016,394,
respectively.

The accompanying notes are an integral part of these financial statements.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     19


Schedule of Investments | 3/31/10 (continued)

Various inputs are used in determining the value of the Trust's investments.
These inputs are summarized in the three broad levels listed below.

Highest priority is given to Level 1 inputs and lowest priority is given to
Level 3.


          
  Level 1 -- quoted prices in active markets for identical securities
  Level 2 -- other significant observable inputs (including quoted prices for
             similar securities, interest rates, prepayment speeds, credit
             risk, etc.)
  Level 3 -- significant unobservable inputs (including the Trust's own
             assumptions in determining fair value of investments)


The following is a summary of the inputs used as of March 31, 2010, in valuing
the Trust's investments:



---------------------------------------------------------------------------------------------------------
                                             Level 1          Level 2               Level 3  Total
 --------------------------------------------------------------------------------------------------------
                                                                                 
Tax-exempt obligations                       $        --      $405,232,908          $--      $405,232,908
Municipal collateralized debt obligation              --         9,565,400           --         9,565,400
Common stock                                   1,603,281                --           --         1,603,281
Tax-exempt money market mutual fund            8,500,000                --           --         8,500,000
---------------------------------------------------------------------------------------------------------
  Total                                      $10,103,281      $414,798,308          $--      $424,901,589
=========================================================================================================


The accompanying notes are an integral part of these financial statements.


20     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


Statement of Assets and Liabilities | 3/31/10


                                                                         
ASSETS:
  Investments in securities, at value (cost $426,748,014)                   $424,901,589
  Receivables --
     Interest                                                                  8,450,476
     Reinvestment of distributions                                               128,009
  Prepaid expenses                                                                47,837
----------------------------------------------------------------------------------------
     Total assets                                                           $433,527,911
----------------------------------------------------------------------------------------
LIABILITIES:
  Due to custodian                                                          $  1,603,125
  Due to affiliates                                                              229,434
  Administration fee payable                                                      25,635
  Accrued expenses                                                               113,441
----------------------------------------------------------------------------------------
     Total liabilities                                                      $  1,971,635
----------------------------------------------------------------------------------------
PREFERRED SHARES AT REDEMPTION VALUE:
  $25,000 liquidation value per share applicable to 6,000 shares,
   including dividends payable of $5,267                                    $150,005,267
----------------------------------------------------------------------------------------
NET ASSETS APPLICABLE TO COMMON SHAREOWNERS:
  Paid-in capital                                                           $326,744,470
  Undistributed net investment income                                         12,757,234
  Accumulated net realized loss on investments and interest rate swaps       (56,104,270)
  Net unrealized loss on investments                                          (1,846,425)
----------------------------------------------------------------------------------------
     Net assets applicable to common shareowners                            $281,551,009
========================================================================================
NET ASSET VALUE PER SHARE:
No par value, (unlimited number of shares authorized)
  Based on $281,551,009/22,995,047 common shares                            $      12.24
========================================================================================


The accompanying notes are an integral part of these financial statements.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     21


Statement of Operations

For the Year Ended 3/31/10


                                                                              
INVESTMENT INCOME:
  Interest                                                                          $30,730,635
-----------------------------------------------------------------------------------------------
EXPENSES:
  Management fees                                                  $  2,428,013
  Administrative fees                                                   408,385
  Transfer agent fees and expenses                                       12,000
  Shareowner communication expenses                                      33,167
  Auction agent fees                                                    390,429
  Custodian fees                                                         12,667
  Registration fees                                                      24,145
  Professional fees                                                     175,016
  Printing expense                                                       35,067
  Trustees' fees                                                         13,370
  Pricing fees                                                           18,109
  Miscellaneous                                                          37,005
-----------------------------------------------------------------------------------------------
     Total expenses                                                                 $ 3,587,373
-----------------------------------------------------------------------------------------------
       Net investment income                                                        $27,143,262
-----------------------------------------------------------------------------------------------
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND
INTEREST RATE SWAPS:
  Net realized loss from:
   Investments                                                     $ (7,352,476)
   Interest rate swaps                                                 (135,950)    $(7,488,426)
-----------------------------------------------------------------------------------------------
  Change in net unrealized loss from:
   Investments                                                     $ 72,164,421
   Interest rate swaps                                                  131,406     $72,295,827
-----------------------------------------------------------------------------------------------
       Net gain on investments and interest rate swaps                              $64,807,401
-----------------------------------------------------------------------------------------------
DISTRIBUTIONS TO PREFERRED SHAREOWNERS FROM NET
INVESTMENT INCOME                                                                   $  (847,268)
-----------------------------------------------------------------------------------------------
  Net increase in net assets applicable to common shareowners
   resulting from operations                                                        $91,103,395
===============================================================================================


The accompanying notes are an integral part of these financial statements.


22     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


Statement of Changes in Net Assets

For the Years Ended 3/31/10 and 3/31/09, respectively



----------------------------------------------------------------------------------------------
                                                              Year Ended          Year Ended
                                                              3/31/10             3/31/09
----------------------------------------------------------------------------------------------
                                                                            
FROM OPERATIONS:
Net investment income                                         $ 27,143,262        $ 27,756,168
Net realized loss on investments and interest rate swaps        (7,488,426)        (30,870,281)
Change in net unrealized loss on investments and
  interest rate swaps                                           72,295,827         (70,216,736)
Distributions to preferred shareowners from net
  investment income                                               (847,268)         (4,573,950)
----------------------------------------------------------------------------------------------
   Net increase (decrease) in net assets applicable to
     common shareowners resulting from operations             $ 91,103,395        $(77,904,799)
----------------------------------------------------------------------------------------------
DISTRIBUTIONS TO COMMON SHAREOWNERS:
Net investment income
  ($0.96 and $0.90 per share, respectively)                   $(22,013,228)       $(20,552,506)
----------------------------------------------------------------------------------------------
   Total distributions to common shareowners                  $(22,013,228)       $(20,552,506)
----------------------------------------------------------------------------------------------
FROM TRUST SHARE TRANSACTIONS:
Reinvestment of distributions                                 $  1,313,970        $  1,103,907
----------------------------------------------------------------------------------------------
   Net increase in net assets applicable to common
     shareowners resulting from Trust share transactions      $  1,313,970        $  1,103,907
----------------------------------------------------------------------------------------------
   Net increase (decrease) in net assets applicable to
     common shareowners                                       $ 70,404,137        $(97,353,398)
NET ASSETS APPLICABLE TO COMMON SHAREOWNERS:
Beginning of year                                              211,146,872         308,500,270
----------------------------------------------------------------------------------------------
End of year                                                   $281,551,009        $211,146,872
----------------------------------------------------------------------------------------------
Undistributed net investment income                           $ 12,757,234        $  8,734,794
==============================================================================================


The accompanying notes are an integral part of these financial statements.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     23


Financial Highlights



-------------------------------------------------------------------------------------------------------------------------------
                                                                       Year         Year         Year       Year        Year
                                                                       Ended        Ended        Ended      Ended       Ended
                                                                       3/31/10      3/31/09      3/31/08    3/31/07     3/31/06
-------------------------------------------------------------------------------------------------------------------------------
                                                                                                         
Per Common Share Operating Performance
Net asset value, beginning of period                                   $ 9.23       $ 13.54      $15.91     $15.04      $14.64
-------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) from investment operations:(a)
 Net investment income                                                 $ 1.18       $  1.22      $ 1.29     $ 1.16      $ 1.17
 Net realized and unrealized gain (loss) on investments and interest
  rate swaps                                                             2.83         (4.43)      (2.51)      0.80        0.39
 Dividends and distributions to preferred shareowners from:
  Net investment income                                                 (0.04)        (0.20)      (0.26)     (0.23)      (0.17)
-------------------------------------------------------------------------------------------------------------------------------
   Net increase (decrease) from investment operations                  $ 3.97       $ (3.41)     $(1.48)    $ 1.73      $ 1.39
Distributions to common shareowners from:
 Net investment income                                                  (0.96)        (0.90)      (0.89)     (0.86)      (0.99)
-------------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net asset value                             $ 3.01       $ (4.31)     $(2.37)    $ 0.87      $ 0.40
-------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period(b)                                      $12.24       $  9.23      $13.54     $15.91      $15.04
===============================================================================================================================
Market value, end of period(b)                                         $13.10       $  9.04      $13.74     $15.61      $14.99
===============================================================================================================================
Total return at market value(c)                                         57.76%       (28.40)%     (6.51)%    10.21%      11.55%
Ratios to average net assets of common shareowners
 Net expenses(d)                                                         1.41%         1.38%       1.13%      1.16%       1.16%
 Net investment income before preferred share dividends                 10.66%        10.70%       8.27%      7.47%       7.88%
 Preferred share dividends                                               0.33%         1.76%       1.64%      1.47%       1.17%
 Net investment income available to common shareowners                  10.33%         8.94%       6.63%      6.00%       6.71%
Portfolio turnover                                                          8%           24%         12%        17%         19%


The accompanying notes are an integral part of these financial statements.

24    Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10




------------------------------------------------------------------------------------------------------------------------------------
                                                                      Year         Year        Year          Year          Year
                                                                      Ended        Ended       Ended         Ended         Ended
                                                                      3/31/10      3/31/09     3/31/08       3/31/07       3/31/06
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                            
Net assets of common shareowners, end of period (in thousands)        $281,551     $211,147    $308,500      $361,888      $342,012
Preferred shares outstanding (in thousands)                           $150,000     $150,000    $150,000      $150,000      $150,000
Asset coverage per preferred share, end of period                     $ 71,926     $ 60,192    $ 76,427      $ 85,328      $ 82,011
Average market value per preferred share(e)                           $ 25,000     $ 25,000    $ 25,000      $ 25,000      $ 25,000
Liquidation value, including dividends payable, per preferred share   $ 25,001     $ 25,001    $ 25,010      $ 25,013      $ 25,009
Ratios to average net assets of common shareowners before waivers and
 reimbursement of expenses
 Net expenses(d)                                                          1.41%        1.38%       1.13%         1.18%         1.16%
 Net investment income before preferred share dividends                  10.66%       10.70%       8.27%         7.45%         7.88%
 Preferred share dividends                                                0.33%        1.76%       1.64%         1.47%         1.17%
 Net investment income available to common shareowners                   10.33%        8.94%       6.63%         5.98%         6.71%
====================================================================================================================================


(a)  The per common share data presented above is based upon the average common
     shares outstanding for the periods presented.
(b)  Net asset value and market value are published in Barron's on Saturday, The
     Wall Street Journal on Monday and The New York Times on Monday and
     Saturday.
(c)  Total investment return is calculated assuming a purchase of common shares
     at the current market value on the first day and a sale at the current
     market value on the last day of the periods reported. Dividends and
     distributions, if any, are assumed for purposes of this calculation to be
     reinvested at prices obtained under the Trust's dividend reinvestment plan.
     Total investment return does not reflect brokerage commissions. Total
     investment returns covering less than a full period are not annualized.
     Past performance is not a guarantee of future results.
(d)  Expense ratios do not reflect the effect of dividend payments to preferred
     shareowners.
(e)  Market value is redemption value without an active market.

The information above represents the audited operating performance data for a
common share outstanding, total investment return, ratios to average net assets
and other supplemental data for the periods indicated. This information has
been determined based upon financial information provided in the financial
statements and market value data for the Trust's common shares.

The accompanying notes are an integral part of these financial statements.

   Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10    25


Notes to Financial Statements | 3/31/10

1. Organization and Significant Accounting Policies

Pioneer Municipal High Income Advantage Trust (the Trust) was organized as a
Delaware statutory trust on August 6, 2003. Prior to commencing operations on
October 20, 2003, the Trust had no operations other than matters relating to
its organization and registration as a diversified, closed-end management
investment company under the Investment Company Act of 1940, as amended. 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.

At times, the Trust's investments may represent industries or industry sectors
that are interrelated or have common risks, making it more susceptible to any
economic, political, or regulatory developments or other risks affecting those
industries and sectors. Information regarding the Trust's principal risks is
contained in the Trust's original offering prospectus, with additional
information included in the Trust's shareowner reports from time to time.
Please refer to those documents when considering the Trust's risks.

The Trust may invest in both investment and below investment grade (high-yield)
municipal securities with a broad range of maturities and credit ratings. Debt
securities rated below investment grade are commonly referred to as "junk
bonds" and are considered speculative. These securities involve greater risk of
loss, are subject to greater price volatility, and are less liquid, especially
during periods of economic uncertainty or change, than higher rated debt
securities.

The Trust's financial statements have been prepared in conformity with U.S.
generally accepted accounting principles that require the management of the
Trust to, among other things, make estimates and assumptions that affect the
reported amounts of assets and liabilities, the disclosure of contingent assets
and liabilities at the date of the financial statements, and the reported
amounts of income, expenses and gain or loss on investments during the
reporting year. Actual results could differ from those estimates.

The following is a summary of significant accounting policies followed by the
Trust in the preparation of its financial statements, which are consistent with
those policies generally accepted in the investment company industry:

A.   Security Valuation

     Security transactions are recorded as of trade date. The net asset value of
     the Trust is computed once daily, on each day the New York Stock Exchange


26     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


     (NYSE) is open, as of the close of regular trading on the NYSE. Fixed
     income securities with remaining maturity of more than sixty days are
     valued at prices supplied by independent pricing services, which consider
     such factors as market prices, market events, quotations from one or more
     brokers, Treasury spreads, yields, maturities and ratings. Valuations may
     be supplemented by dealers and other sources, as required. The values of
     interest rate swaps are determined by obtaining dealer quotations.
     Securities for which independent pricing services are unable to supply
     prices or for which market prices and/or quotations are not readily
     available or are considered to be unreliable are valued using fair value
     methods pursuant to procedures adopted by the Board of Trustees.

     The Trust may use fair value methods if it is determined that a significant
     event has occurred after the close of the exchange or market on which the
     security trades and prior to the determination of the Trust's net asset
     value. Thus, the valuation of the Trust's securities may differ from
     exchange prices. At March 31, 2010, one security was valued using fair
     value methods (other than securities valued using prices supplied by
     independent pricing services) which had no value. Inputs used in the
     valuation of a security using fair value methods include credit ratings,
     the financial condition of the company, current market conditions and
     comparable securities. Short-term fixed income securities with remaining
     maturities of sixty days or less are generally valued at amortized cost.
     Money market mutual funds are valued at net asset value.

     Discount and premium on debt securities are accreted or amortized,
     respectively, daily into interest income on a yield-to-maturity basis with
     a corresponding increase or decrease in the cost basis of the security.
     Interest income, including interest-bearing cash accounts, is recorded on
     an accrual basis.

     Dividend income is recorded on the ex-dividend date, except that certain
     dividends from foreign securities where the ex-dividend date may have
     passed are recorded as soon as the Trust becomes aware of the ex-dividend
     data in the exercise of reasonable diligence.

     Gains and losses on sales of investments are calculated on the identified
     cost method for both financial reporting and federal income tax purposes.

B.   Federal Income Taxes

     It is the Trust's policy to comply with the requirements of the Internal
     Revenue Code applicable to regulated investment companies and to distribute
     all of its taxable income and net realized capital gains, if any, to its
     shareowners. Therefore, no federal income tax provision is required. Tax
     years for the prior three fiscal years remain subject to examination by tax
     authorities.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     27


     The amounts and characterizations of distributions to shareowners for
     financial reporting purposes are determined in accordance with federal
     income tax rules. Therefore, the sources of the Trust's distributions may
     be shown in the accompanying financial statements as from or in excess of
     net investment income or net realized gain (loss) on investment
     transactions, or as from paid-in capital, depending on the type of book/tax
     differences that may exist.

     At March 31, 2010, the Trust reclassified $260,326 to decrease
     undistributed net investment income and to decrease net realized loss on
     investments to reflect permanent book/tax differences. The reclassification
     has no impact on the net assets of the Trust and presents the Trust's
     capital accounts on a tax basis.

     At March 31, 2010, the Trust had a net capital loss carryforward of
     $50,523,623, of which the following amounts will expire between 2014 and
     2018 if not utilized: $14,156,085 in 2014, $311,368 in 2016, $17,813,537 in
     2017 and $18,242,633 in 2018.

     The Trust has elected to defer approximately $5,465,720 of capital losses
     recognized between November 1, 2009 and March 31, 2010 to its fiscal year
     ending March 31, 2011.

     The tax character of distributions paid to common and preferred shareowners
     during the years ended March 31, 2010 and March 31, 2009 was as follows:



     ---------------------------------------------------------------------------
                                                  2010                     2009
     ---------------------------------------------------------------------------
                                                              
     Distributions paid from:
     Tax-exempt income                     $22,779,781              $24,983,891
     Ordinary income                            80,715                  142,565
     ---------------------------------------------------------------------------
       Total                               $22,860,496              $25,126,456
     ===========================================================================


     The following shows the components of distributable earnings (losses) on a
     federal income tax basis at March 31, 2010:



     ---------------------------------------------------------------------------
                                                                           2010
     ---------------------------------------------------------------------------
                                                                
     Distributable earnings:
     Undistributed tax-exempt income                               $  8,020,971
     Undistributed ordinary income                                       30,783
     Capital loss carryforward                                      (50,523,623)
     Post-October loss deferred                                      (5,465,720)
     Dividends payable                                                   (5,267)
     Unrealized appreciation                                          2,749,395
     ---------------------------------------------------------------------------
       Total                                                       $(45,193,461)
     ===========================================================================


  The difference between book-basis and tax-basis unrealized appreciation is
  primarily attributable to the difference between book and tax amortization
  methods for premiums and discounts on fixed income securities, book/tax


28     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


     difference in accrual of income on securities in default, and other
     temporary differences.

C.   Automatic Dividend Reinvestment Plan

     All common shareowners whose shares are registered in their own names
     automatically participate in the Automatic Dividend Reinvestment Plan (the
     Plan), under which participants receive all dividends and capital gain
     distributions (collectively, dividends) in full and fractional common
     shares of the Trust in lieu of cash. Shareowners may elect not to
     participate in the Plan. Shareowners not participating in the Plan receive
     all dividends and capital gain distributions in cash. Participation in the
     Plan is completely voluntary and may be terminated or resumed at any time
     without penalty by notifying American Stock Transfer & Trust Company, the
     agent for shareowners in administering the Plan (the Plan Agent), in
     writing prior to any dividend record date; otherwise such termination or
     resumption will be effective with respect to any subsequently declared
     dividend or other distribution.

     If a shareowner's shares are held in the name of a brokerage firm, bank or
     other nominee, the shareowner can ask the firm or nominee to participate in
     the Plan on the shareowner's behalf. If the firm or nominee does not offer
     the Plan, dividends will be paid in cash to the shareowner of record. A
     firm or nominee may reinvest a shareowner's cash dividends in common shares
     of the Trust on terms that differ from the terms of the Plan.

     Whenever the Trust declares a dividend on common shares payable in cash,
     participants in the Plan will receive the equivalent in common shares
     acquired by the Plan Agent either (i) through receipt of additional
     unissued but authorized common shares from the Trust or (ii) by purchase of
     outstanding common shares on the New York Stock Exchange or elsewhere. If,
     on the payment date for any dividend, the net asset value per common share
     is equal to or less than the market price per share plus estimated
     brokerage trading fees (market premium), the Plan Agent will invest the
     dividend amount in newly issued common shares. The number of newly issued
     common shares to be credited to each account will be determined by dividing
     the dollar amount of the dividend by the net asset value per common share
     on the date the shares are issued, provided that the maximum discount from
     the then current market price per share on the date of issuance does not
     exceed 5%. If, on the payment date for any dividend, the net asset value
     per common share is greater than the market value (market discount), the
     Plan Agent will invest the dividend amount in common shares acquired in
     open-market purchases. There are no brokerage charges with respect to newly
     issued common shares. However, each participant will pay a pro rata share
     of brokerage trading fees incurred with respect to the Plan Agent's
     open-market purchases. Participating in the Plan does not relieve
     shareowners from any federal, state or local taxes which may be due on
     dividends paid in


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     29


     any taxable year. Shareowners holding Plan shares in a brokerage account
     may not be able to transfer the shares to another broker and continue to
     participate in the Plan.

2. Management Agreement

Pioneer Investment Management, Inc. (PIM), the Trust's investment adviser, a
wholly owned indirect subsidiary of UniCredit S.p.A. (UniCredit), manages the
Trust's portfolio. Management fees payable under the Trust's Advisory Agreement
with PIM are calculated daily at the annual rate of 0.60% of the Trust's
average daily managed assets. "Managed assets" means (a) the total assets of
the Trust, including any form of investment leverage, minus (b) all accrued
liabilities incurred in the normal course of operations, which shall not
include any liabilities or obligations attributable to investment leverage
obtained through (i) indebtedness of any type (including, without limitation,
borrowing through a credit facility of the issuance of debt securities), (ii)
the issuance of preferred stock or other similar preference securities, and/or
(iii) any other means. For the year ended March 31, 2010, the net management
fee was equivalent to 0.60% of the Trust's average daily managed assets, which
was equivalent to 0.95% of the Trust's average daily net assets attributable to
the common shareowners.

In addition, under PIM's management and administration agreements, certain
other services and costs are paid by PIM and reimbursed by the Trust. At March
31, 2010, $229,434 was payable to PIM related to management costs,
administrative costs and certain other services and is included in "Due to
affiliates" on the Statement of Assets and Liabilities.

PIM has retained Princeton Administrators, LLC (Princeton) to provide certain
administrative and accounting services to the Trust on its behalf. The Trust
pays Princeton a monthly fee equal to 0.07% of the Trust's average daily
managed assets up to $500 million and 0.03% for average daily managed assets in
excess of $500 million, subject to a minimum monthly fee of $10,000.

3. Transfer Agents

Pioneer Investment Management Shareholder Services, Inc. (PIMSS), a wholly
owned indirect subsidiary of UniCredit, through a sub-transfer agency agreement
with American Stock Transfer & Trust Company, provides substantially all
transfer agent and shareowner services related to the Trust's common shares at
negotiated rates. Deutsche Bank Trust Company Americas (Deutsche Bank) is the
transfer agent, registrar, dividend paying agent and auction agent with respect
to the Trust's Auction Preferred Shares (APS). The Trust pays Deutsche Bank an
annual fee, as is agreed to from time to time by the Trust and Deutsche Bank,
for providing such services.


30     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


4. Interest Rate Swaps

The Trust may enter into interest rate swap transactions to attempt to protect
itself from increasing dividend or interest expense on its leverage resulting
from increasing short-term interest rates. The cost of leverage may rise with
an increase in interest rates, generally having the effect of lower yields and
potentially lower dividends to common shareowners. Interest rate swaps can be
used to "lock in" the cost of leverage and reduce the negative impact that
rising short-term interest rates would have on the Trust's leveraging costs.

An interest rate swap is an agreement between two parties, which involves
exchanging floating rate and fixed rate interest payments for a specified
period of time. Interest rate swaps involve the accrual of the net interest
payments between the parties on a daily basis, with the net amount recorded
within the unrealized appreciation/depreciation of interest rate swaps on the
Statement of Assets and Liabilities. Once the interim payments are settled in
cash, at the pre-determined dates specified in the agreement, the net amount is
recorded as realized gain or loss from interest rate swaps on the Statement of
Operations. During the term of the swap, changes in the value of the swap are
recognized as unrealized gains and losses by "marking-to-market" the value of
the swap based on values obtained from dealer quotations. When the swap is
terminated, the Trust will record a realized gain or loss equal to the
difference, if any, between the proceeds from (or cost of) closing the contract
and the cost basis of the contract. The Trust is exposed to credit risk in the
event of non-performance by the other party to the interest rate swap. Risk may
also arise with regard to market movements in the value of the swap arrangement
that do not exactly offset the changes in the related dividend requirement or
interest expense on the Trust's leverage.

There were no interest rate swap contracts outstanding at March 31, 2010.

5. Trust Shares

There are an unlimited number of common shares of beneficial interest
authorized.

Transactions in common shares of beneficial interest for the years ended March
31, 2010 and March 31, 2009 were as follows:



--------------------------------------------------------------------------------
                                                         2010               2009
--------------------------------------------------------------------------------
                                                                
 Shares outstanding at beginning of year           22,879,496         22,786,930
 Reinvestment of distributions                        115,551             92,566
--------------------------------------------------------------------------------
 Shares outstanding at end of year                 22,995,047         22,879,496
================================================================================


The Trust may classify or reclassify any unissued common shares of beneficial
interest into one or more series of preferred shares of beneficial interest. As
of March 31, 2010, there were 6,000 APS as follows: Series A -- 3,000 and
Series B -- 3,000.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     31


Dividends on Series A and Series B are cumulative at a rate, which is reset
every seven days based on the results of an auction. An auction fails if there
are more APS offered for sale than there are buyers. When an auction fails, the
dividend rate for the period will be the maximum rate on the auction dates
described in the prospectus for the APS. Preferred shareowners will not be able
to sell their APS at an auction if the auction fails. Since February 2008, the
Trust's auctions related to the APS have failed. The maximum rate for the 7-Day
Series is 125% of the 7 day commercial paper rate or adjusted Kenny rate.
Dividend rates on APS ranged from 0.278% to 1.08% during the year ended March
31, 2010.

The Trust may not declare dividends or make other distributions on its common
shares or purchase any such shares if, at the time of the declaration,
distribution or purchase, the Trust does not comply with the asset coverage
ratios described in the prospectus for the APS.

The APS are redeemable at the option of the Trust, in whole or in part, on any
dividend payment date at $25,000 per share plus any accumulated or unpaid
dividends, whether or not declared. The APS are also subject to mandatory
redemption at $25,000 per share plus any accumulated or unpaid dividends,
whether or not declared, if certain requirements relating to the composition of
the assets and liabilities of the Trust as set forth in the Statement of
Preferences are not satisfied.

The holders of APS have voting rights equal to the holders of the Trust's
common shares (one vote per share) and will vote together with holders of the
common shares as a single class. Holders of APS are also entitled to elect two
of the Trust's Trustees. In addition, the Investment Company Act of 1940, as
amended, requires that along with approval by shareowners that might otherwise
be required, the approval of the holders of a majority of any outstanding
preferred shares, voting separately as a class, would be required to (a) adopt
any plan of reorganization that would adversely affect the preferred shares and
(b) take any action requiring a vote of security holders, including, among
other things, changes in the Trust's subclassification as a closed-end
management investment company or changes in its fundamental investment
restrictions.


32     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


6. Additional Disclosures about Derivative Instruments and Hedging Activities:

The effect of derivative instruments on the Statement of Operations for the
year ended March 31, 2010 was as follows:



-----------------------------------------------------------------------------------------------------------
Derivatives Not                                                                                 Change in
Accounted for as                                                                  Realized      Unrealized
Hedging Instruments                                                               Loss on       Loss on
Under Accounting         Location of Gain or (Loss)                               Derivatives   Derivatives
Codification Standards   On Derivatives Recognized                                Recognized    Recognized
(ASC) 815                in Income                                                in Income     in Income
-----------------------------------------------------------------------------------------------------------
                                                                                       
Interest Rate Swap       Net realized loss from interest rate swaps               $(135,950)
Interest Rate Swap       Change in net unrealized loss from interest rate swaps                 $131,406


7. Subsequent Events

Subsequent to March 31, 2010 the Board of Trustees of the Trust declared a
dividend from undistributed net investment income of $0.085 per common share
payable April 30, 2010, to common shareowners of record on April 15, 2010.

Subsequent to March 31, 2010, dividends declared and paid on preferred shares
totaled $75,720 in aggregate for the two outstanding preferred share series
through May 10, 2010.

In preparing these financial statements, PIM has evaluated the impact of all
events and transactions for potential recognition or disclosure and has
determined that other than disclosed above, there were no events requiring
recognition or disclosure in the financial statements.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     33


Report of Independent Registered Public Accounting Firm

To the Board of Trustees and the Shareowners of
Pioneer Municipal High Income Advantage Trust:
--------------------------------------------------------------------------------
We have audited the accompanying statement of assets and liabilities of Pioneer
Municipal High Income Advantage Trust (the "Trust"), including the schedule of
investments, as of March 31, 2010, and the related statement of operations for
the year then ended, the statements of changes in net assets for each of the
two years in the period then ended, and the financial highlights for each of
the five years in the period then ended. These financial statements and
financial highlights are the responsibility of the Trust's management. Our
responsibility is to express an opinion on these financial statements and
financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the
financial statements and financial highlights are free of material
misstatement. We were not engaged to perform an audit of the Trust's internal
control over financial reporting. Our audits included consideration of internal
control over financial reporting as a basis for designing audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Trust's internal control over financial
reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements and financial highlights, assessing the accounting
principles used and significant estimates made by management, and evaluating
the overall financial statement presentation. Our procedures included
confirmation of securities owned as of March 31, 2010, by correspondence with
the custodian. We believe that our audits provide a reasonable basis for our
opinion.

In our opinion, the financial statements and financial highlights referred to
above present fairly, in all material respects, the financial position of
Pioneer Municipal High Income Advantage Trust at March 31, 2010, the results of
its operations for the year then ended, the changes in its net assets for each
of the two years in the period then ended, and the financial highlights for
each of the five years in the period then ended, in conformity with U.S.
generally accepted accounting principles.

/s/ Ernst & Young LLP

Boston, Massachusetts
May 21, 2010

34     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


ADDITIONAL INFORMATION (unaudited)

During the period, there have been no material changes in the Trust's
investment objective or fundamental policies that have not been approved by the
shareowners. There have been no changes in the Trust's charter or By-Laws that
would delay or prevent a change in control of the Trust which has not been
approved by the shareowners. There have been no changes in the principal risk
factors associated with investment in the Trust. Day-to-day management of the
Trust's portfolio is the responsibility of David Eurkus. Mr. Eurkus is
supported by the fixed income team. Members of this team manage other Pioneer
funds investing primarily in fixed income securities. The portfolio manager and
the team also may draw upon the research and investment management expertise of
Pioneer's affiliate, Pioneer Investment Management Limited. Mr. Eurkus joined
Pioneer as a senior vice president in January 2000 and has been an investment
professional since 1969.

Notice is hereby given in accordance with Section 23(c) of the Investment
Company Act of 1940 that the Trust may purchase, from time to time, its common
shares in the open market.

CEO CERTIFICATION DISCLOSURE (unaudited)

The Trust's Chief Executive Officer has submitted to the New York Stock
Exchange the annual CEO certification as required by Section 303A.12(a) of the
NYSE Listed Company Manual. In addition, the Trust has filed with the
Securities and Exchange Commission the certification of its Chief Executive
Officer and Chief Financial Officer required by Section 302 of the Sarbanes-
Oxley Act.

  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     35


Results of Shareholder Meeting (unaudited)

At the annual meeting of shareowners held on September 22, 2009 shareowners of
Pioneer Municipal High Income Advantage Trust were asked to consider the
proposals described below. A report of the total votes cast by the Trust's
shareholders follows:

Proposal 1 -- To elect Class III Trustees.



--------------------------------------------------------------------------------
Nominee                                      For                        Withheld
--------------------------------------------------------------------------------
                                                                  
Mary K. Bush                                 13,238,097                 643,607
Thomas J. Perna                              13,293,348                 588,356
Marguerite A. Piret+                         4,605                          109


------------------
+ Elected by Preferred Shares only

Proposal 2 -- To approve an Amended and Restated Management Agreement with
Pioneer Investment Management, Inc.



--------------------------------------------------------------------------------
                                                                       Broker
 For                   Against                 Abstain                 Non-Votes
--------------------------------------------------------------------------------
                                                              
 9,532,084             305,035                 318,467                 3,726,118


IMPORTANT TAX INFORMATION (unaudited)

The following summarizes the taxable per share distributions paid by Pioneer
Municipal High Income Advantage Trust during the taxable year ended March 31,
2010:



--------------------------------------------------------------------------------
                                           Payable                   Ordinary
                                           Date                      Income
--------------------------------------------------------------------------------
                                                               
 Common Shareowners                        12/18/2009                $0.003281
 Preferred Shareowners
   Series A                                11/24/2009                $    0.95
   Series B                                11/23/2009                $    0.85


All of the other net investment income distributions paid by the Trust qualify
as tax-exempt interest dividends for Federal income tax purposes.


36     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


Approval of Investment Advisory Agreement (unaudited)

Pioneer Investment Management, Inc. (PIM) serves as the investment adviser to
Pioneer Municipal High Income Advantage Trust (the Trust) pursuant to an
investment advisory agreement between PIM and the Trust. In order for PIM to
remain the investment adviser of the Trust, the Trustees of the Trust must
determine annually whether to renew the investment advisory agreement for the
Trust.

The contract review process began in March 2009 as the Trustees of the Trust
agreed on, among other things, an overall approach and timeline for the
process. In July 2009, the Trustees approved the format of the contract review
materials and submitted their formal request to PIM to furnish information
necessary to evaluate the terms of the investment advisory agreement. The
contract review materials were provided to the Trustees in August 2009. After
reviewing and discussing the materials, the Trustees submitted a request for
additional information to PIM in September 2009, and materials were provided in
response to this request. Meetings of the independent Trustees of the Trust
were held in July, September, October, and November, 2009 to review and discuss
the contract review materials. In addition, the Trustees took into account the
information related to the Trust provided to the Trustees at each regularly
scheduled meeting.

At a meeting held on November 10, 2009, based on their evaluation of the
information provided by PIM and third parties, the Trustees of the Trust,
including the independent Trustees voting separately, unanimously approved the
renewal of the investment advisory agreement for another year. In considering
the renewal of the investment advisory agreement, the Trustees considered
various factors that they determined were relevant, including the factors
described below. The Trustees did not identify any single factor as the
controlling factor in determining to approve the renewal of the agreement.

Nature, Extent and Quality of Services
The Trustees considered the nature, extent and quality of the services that had
been provided by PIM to the Trust, taking into account the investment objective
and strategy of the Trust. The Trustees reviewed the terms of the investment
advisory agreement. The Trustees also reviewed PIM's investment approach for
the Trust, its research process and its process for trade execution. The
Trustees considered the resources of PIM and the personnel of PIM who provide
investment management services to the Trust. The Trustees considered the
non-investment resources and personnel of PIM involved in PIM's services to the
Trust, including PIM's compliance and legal resources and personnel.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     37


The Trustees also considered the substantial attention and high priority given
by PIM's senior management to the Pioneer fund complex.

The Trustees considered that PIM supervises and monitors the performance of the
Trust's service providers and provides the Trust with personnel (including
Trust officers) and other resources that are necessary for the Trust's business
management and operations. The Trustees also considered that, as administrator,
PIM is responsible for the administration of the Trust's business and other
affairs. The Trustees considered the fees paid to PIM for the provision of
administration services.

Based on these considerations, the Trustees concluded that the nature, extent
and quality of services that had been provided by PIM to the Trust were
satisfactory and consistent with the terms of the investment advisory
agreement.

Performance of the Trust
The Trustees considered the performance results of the Trust over various time
periods. They reviewed information comparing the Trust's performance with the
performance of its peer group of funds as classified by Morningstar, Inc.
(Morningstar), an independent provider of investment company data, and with the
performance of the Trust's benchmark index. The Trustees considered that the
Trust's annualized total return was in the fifth quintile of its Morningstar
category for the one and three year periods ended June 30, 2009 and in the
third quintile of its Morningstar category for the five year period ended June
30, 2009. (In all quintile rankings referred to throughout this disclosure,
first quintile is most favorable to the Trust's shareowners. Thus, highest
relative performance would be first quintile and lowest relative expenses would
also be first quintile.) The Trustees considered that the Trust's yield (at
market value) was better than the average yield (at market value) of the funds
in its peer group as of June 30, 2009. The Trustees noted that the yield of the
Trust also compared favorably to the yield of the Trust's primary and secondary
benchmarks as of June 30, 2009. The Trustees reviewed data provided by Pioneer
showing how leverage had benefited the Trust's common shareholders. The
Trustees discussed the reasons for the Trust's underperformance in respect of
total return with PIM in view of the Trust's investment approach and the market
conditions present during the relevant periods. The Trustees agreed that they
would continue to monitor the performance of the Trust closely.

Management Fee and Expenses
The Trustees considered information on the fees and expenses of the Trust in
comparison to the management fees and the expense ratios of a peer group of
funds selected on the basis of criteria determined by the independent Trustees
for this purpose using data provided by Strategic Insight Mutual Fund Research
and Consulting, LLC (Strategic Insight), an independent third party.

The Trustees considered that the Trust's management fee rate based on net
assets attributable to common shares for the twelve months ended June 30,


38     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


2009 was in the fifth quintile relative to the management fees paid by other
funds in its Strategic Insight peer group for the comparable period. The
Trustees considered the effect of leverage on the Trust's management fee
relative to its peers by reviewing the management fee ratios of the Trust and
its peers based on managed assets rather than net assets attributable to common
shares. They noted that, on that basis, the Trust's management fee for the
twelve months ended June 30, 2009 was in the third quintile relative to its
peer group for the comparable period.

The Trustees also considered that the Trust's expense ratio based on net assets
attributable to common shares for the twelve months ended June 30, 2009 was in
the fourth quintile relative to its Strategic Insight peer group for the
comparable period. The Trustees considered the effect of leverage on the
Trust's expense ratio relative to its peers by reviewing such expense ratios
based on managed assets rather than common assets. The Trustees noted the
impact of the Trust's higher relative management fee on its expense ratio. The
Trustees also considered the impact of leverage on the expense ratio of the
Trust and its peers by reviewing such expense ratios without giving effect to
interest expense (but acknowledging that auction agent fees were difficult to
isolate and exclude).

The Trustees also reviewed management fees charged by PIM to its institutional
and other clients. In evaluating the fees associated with PIM's client
accounts, the Trustees took into account the respective demands, resources and
complexity associated with the Trust and client accounts. The Trustees noted
that in some instances the fee rates for those clients were lower than the
management fee for the Trust and considered that, under the investment advisory
agreement with the Trust, PIM performs additional services for the Trust that
it does not provide to those other clients or services that are broader in
scope, including oversight of the Trust's other service providers and
activities related to compliance and the extensive regulatory and tax regimes
to which the Trust is subject.

The Trustees concluded that the management fee payable by the Trust to PIM was
reasonable in relation to the nature and quality of the services provided by
PIM. The Trustees also concluded that the Trust's expense ratio was reasonable
taking into account the nature and quality of services provided by PIM.

Profitability
The Trustees considered information provided by PIM regarding the profitability
of PIM with respect to the advisory services provided by PIM to the Trust,
including the methodology used by PIM in allocating certain of its costs to the
management of the Trust. The Trustees also considered PIM's profit margin in
connection with the overall operation of the Trust. They further reviewed the
financial results realized by PIM and its affiliates from non-fund businesses.
The Trustees considered PIM's profit margins with respect to the


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     39


Trust in comparison to the limited industry data available and noted that the
profitability of any adviser was affected by numerous factors, including its
organizational structure and method for allocating expenses. The Trustees
concluded that PIM's profitability with respect to the management of the Trust
was not unreasonable.

Economies of Scale
The Trustees considered the extent to which PIM may realize economies of scale
or other efficiencies in managing and supporting the Trust. Since the Trust is
a closed-end fund that has not raised additional capital, the Trustees
concluded that economies of scale were not a relevant consideration in the
renewal of the investment advisory agreement.

Other Benefits
The Trustees considered the other benefits to PIM from its relationship with
the Trust. The Trustees considered the character and amount of fees paid by the
Trust, other than under the investment advisory agreement, for services
provided by PIM and its affiliates. The Trustees further considered the
revenues and profitability of PIM's businesses other than the fund business.
The Trustees considered the intangible benefits to PIM by virtue of its
relationship with the Trust and the other Pioneer funds. The Trustees concluded
that the receipt of these benefits was reasonable in the context of the overall
relationship between PIM and the Trust.

Conclusion
After consideration of the factors described above as well as other factors,
the Trustees, including all of the independent Trustees, concluded that the
investment advisory agreement between PIM and the Trust, including the fees
payable thereunder, was fair and reasonable and voted to approve the proposed
renewal of the investment advisory agreement for the Trust.


40     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


Trustees, Officers and Service Providers

Investment Adviser
Pioneer Investment Management, Inc.

Custodian
Brown Brothers Harriman & Co.

Independent Registered Public Accounting Firm
Ernst & Young LLP

Legal Counsel
Bingham McCutchen LLP

Transfer Agent
Pioneer Investment Management Shareholder Services, Inc.

Shareowner Services and Sub-Transfer Agent
American Stock Transfer & Trust Company

Preferred Share Auction/Transfer Agent and Registrar
Deutsche Bank Trust Company Americas

Sub-Administrator
Princeton Administrators, LLC

Proxy Voting Policies and Procedures of the Trust are available without charge,
upon request, by calling our toll free number (1-800-225-6292). Information
regarding how the Trust voted proxies relating to portfolio securities during
the most recent 12-month period ended June 30 is publicly available to
shareowners at www.pioneerinvestments.com. This information is also available
on the Securities and Exchange Commission's web site at http://www.sec.gov.

Trustees and Officers

The Board of Trustees provides broad supervision over the Trust's affairs. The
officers of the Trust are responsible for the Trust's operations. The Trustees
and officers are listed below, together with their principal occupations during
the past five years. Trustees who are interested persons of the Trust within
the meaning of the 1940 Act are referred to as Interested Trustees. Trustees
who are not interested persons of the Trust are referred to as Independent
Trustees. Each of the Trustees, except Mr. West, serves as a Trustee of each of
the 57 U.S. registered investment portfolios for which Pioneer serves as
investment adviser (the "Pioneer Funds"). Mr. West serves as a Trustee of 44
U.S. registered investment portfolios for which Pioneer serves as investment
adviser. The address for all Trustees and all officers of the Trust is 60 State
Street, Boston, Massachusetts 02109.


  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     41


Interested Trustees



------------------------------------------------------------------------------------------------------------------------------------
                           Position Held            Length of Service       Principal Occupation During       Other Directorships
Name and Age               With the Trust           and Term of Office      Past Five Years                   Held by this Trustee
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                  
John F. Cogan, Jr. (83)*   Chairman of the Board,   Class I Trustee since   Non-Executive Chairman and a      None
                           Trustee and President    2003. Term expires in   Director of Pioneer Investment
                                                    2010. Elected by Pre-   Management USA Inc.
                                                    ferred Shares only.     ("PIM-USA"); Chairman and a
                                                                            Director of Pioneer; Chairman
                                                                            and Director of Pioneer
                                                                            Institutional Asset
                                                                            Management, Inc. (since 2006);
                                                                            Director of Pioneer
                                                                            Alternative Investment
                                                                            Management Limited (Dublin);
                                                                            President and a Director of
                                                                            Pioneer Alternative Investment
                                                                            Management (Bermuda) Limited
                                                                            and affiliated funds; Deputy
                                                                            Chairman and a Director of
                                                                            Pioneer Global Asset
                                                                            Management S.p.A. ("PGAM")
                                                                            (until April 2010); Director
                                                                            of PIOGLOBAL Real Estate
                                                                            Investment Fund (Russia)
                                                                            (until June 2006); Director of
                                                                            Nano-C, Inc. (since 2003);
                                                                            Director of Cole Management
                                                                            Inc. (since 2004); Director of
                                                                            Fiduciary Counseling, Inc.;
                                                                            President and Director of
                                                                            Pioneer Funds Distributor,
                                                                            Inc. ("PFD") (until May 2006);
                                                                            President of all of the
                                                                            Pioneer Funds; and Of Counsel,
                                                                            Wilmer Cutler Pickering Hale
                                                                            and Dorr LLP
------------------------------------------------------------------------------------------------------------------------------------
Daniel K. Kingsbury (51)*  Trustee and Executive    Class II Trustee since  Director, CEO and President of    None
                           Vice President           2007. Term expires in   PIM USA (since February 2007);
                                                    2011.                   Director and President of
                                                                            Pioneer and Pioneer
                                                                            Institutional Asset
                                                                            Management, Inc. (since
                                                                            February 2007); Executive Vice
                                                                            President of all of the
                                                                            Pioneer Funds (since March
                                                                            2007); Director of PGAM (2007
                                                                            - 2010); Head of New Europe
                                                                            Division, PGAM (2000 - 2005);
                                                                            Head of New Markets Division,
                                                                            PGAM (2005 - 2007)
------------------------------------------------------------------------------------------------------------------------------------
* Mr. Cogan and Mr. Kingsbury are Interested Trustees because each is an officer or director of the Trust's investment adviser and
certain of its affiliates.



42    Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


Independent Trustees



------------------------------------------------------------------------------------------------------------------------------------
                      Position Held     Length of Service          Principal Occupation During       Other Directorships
Name and Age          With the Trust    and Term of Office         Past Five Years                   Held by this Trustee
------------------------------------------------------------------------------------------------------------------------------------
                                                                                         
David R. Bock (65)    Trustee           Class I Trustee since      Interim Chief Executive           Director of Enterprise
                                        2005. Term expires in      Officer, Oxford Analytica,        Community Investment, Inc.
                                        2010.                      Inc. (privately-held research     (privately-held affordable
                                                                   and consulting company) (2010     housing finance company) (1985
                                                                   - present); Managing              - present); Director of New
                                                                   Partner, Federal City Capital     York Mortgage Trust
                                                                   Advisors (corporate advisory      (publicly-traded mortgage
                                                                   services company) (1997 to        REIT) (2004 - 2009)
                                                                   2004 and 2008 - present);
                                                                   Executive Vice President and
                                                                   Chief Financial Officer,
                                                                   I-trax, Inc. (publicly
                                                                   traded health care services
                                                                   company) (2004 - 2007); and
                                                                   Executive Vice President and
                                                                   Chief Financial Officer,
                                                                   Pedestal Inc. (internet-based
                                                                   mortgage trading company (2000
                                                                   - 2002)
------------------------------------------------------------------------------------------------------------------------------------


       Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10
  43


Independent Trustees (continued)



------------------------------------------------------------------------------------------------------------------------------------
                      Position Held     Length of Service          Principal Occupation During       Other Directorships
 Name and Age         With the Trust    and Term of Office         Past Five Years                   Held by this Trustee
------------------------------------------------------------------------------------------------------------------------------------
                                                                                         
Mary K. Bush (61)     Trustee           Class III Trustee since    President, Bush International,    Director of Marriott Interna-
                                        2003. Term expires in      LLC (international financial      tional, Inc. (2008 - present);
                                        2012.                      advisory firm) (1991 -            Director of Discover Financial
                                                                   present); Managing Director,      Services (credit card issuer
                                                                   Federal Housing Finance Board     and electronic payment
                                                                   (oversight of Federal Home        services) (2007 - present);
                                                                   Loan Bank system) (1989 -         Former Director of Briggs &
                                                                   1991); Vice President and Head    Stratton Co. (engine
                                                                   of International Finance,         manufacturer) (2004 - 2009);
                                                                   Federal National Mortgage         Director of UAL Corporation
                                                                   Association (1988 - 1989);        (airline hold- ing company)
                                                                   U.S. Alternate Executive          (2006 - present); Director of
                                                                   Director, International           ManTech International
                                                                   Monetary Fund (1984 - 1988);      Corporation (national
                                                                   Executive Assistant to Deputy     security, defense, and
                                                                   Secretary of the U.S.             intelligence technology firm)
                                                                   Treasury, U.S. Treasury           (2006 - present); and Member,
                                                                   Department (1982 - 1984); Vice    Board of Governors, Investment
                                                                   President and Team Leader in      Company Institute (2007 -
                                                                   Corporate Banking, Bankers        present); Former Director of
                                                                   Trust Co. (1976 - 1982)           Brady Corporation (2000 -
                                                                                                     2007); Former Director of
                                                                                                     Mortgage Guaranty Insurance
                                                                                                     Corporation (1991 - 2006);
                                                                                                     Former Director of Millennium
                                                                                                     Chemicals, Inc. (commodity
                                                                                                     chemicals) (2002 - 2005);
                                                                                                     Former Director, R.J. Reynolds
                                                                                                     Tobacco Holdings, Inc.
                                                                                                     (tobacco) (1999 - 2005);
                                                                                                     Former Director of Texaco,
                                                                                                     Inc. (1997 - 2001)
------------------------------------------------------------------------------------------------------------------------------------



44    Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10




------------------------------------------------------------------------------------------------------------------------------------
                           Position Held    Length of Service        Principal Occupation During     Other Directorships
Name and Age               With the Trust   and Term of Office       Past Five Years                 Held by this Trustee
------------------------------------------------------------------------------------------------------------------------------------
                                                                                         
Benjamin M. Friedman (65)  Trustee          Class II Trustee since   William Joseph Maier Professor  Trustee, Mellon Institutional
                                            2008. Term expires in    of Political Economy, Harvard   Funds Investment Trust and
                                            2011.                    University (1972 - present)     Mellon Institutional Funds
                                                                                                     Master Portfolio (oversaw
                                                                                                     17 portfolios in fund com-
                                                                                                     plex) (1989 - 2008)
------------------------------------------------------------------------------------------------------------------------------------
Margaret B.W. Graham (62)  Trustee          Class II Trustee since   Founding Director,              None
                                            2003. Term expires in    Vice-President and Corporate
                                            2011.                    Secretary, The Winthrop Group,
                                                                     Inc. (consulting firm); and
                                                                     Desautels Faculty of
                                                                     Management, McGill University
                                                                     (1999 - present); and Manager
                                                                     of Research Operations and
                                                                     Organizational Learning, Xerox
                                                                     PARC, Xerox's Advance Research
                                                                     Center (1990 - 1994)
------------------------------------------------------------------------------------------------------------------------------------
Thomas J. Perna (59)       Trustee          Class III Trustee since  Chairman and Chief Executive    Director, Broadridge Financial
                                            2006. Term expires in    Officer, Quadriserv, Inc.       Solutions, Inc. (2009 -
                                            2012.                    (technology products for        present); Director,
                                                                     securities lending industry)    Quadriserv, Inc. (2005 -
                                                                     (2008 - present); Private       present)
                                                                     investor (2004 - 2008); and
                                                                     Senior Executive Vice Presi-
                                                                     dent, The Bank of New York
                                                                     (financial and securities
                                                                     services) (1986 - 2004)
------------------------------------------------------------------------------------------------------------------------------------
Marguerite A. Piret (61)   Trustee          Class III Trustee since  President and Chief Executive   Director of New America High
                                            2003. Term expires in    Officer, Newbury, Piret &       Income Fund, Inc. (closed-end
                                            2012. Elected by Pre-    Company, Inc. (investment       investment company) (2004 -
                                            ferred Shares only.      banking firm) (1981 - present)  present); Member, Board of
                                                                                                     Gover- nors, Investment
                                                                                                     Company Institute (2000 -
                                                                                                     2006)
------------------------------------------------------------------------------------------------------------------------------------



     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10  45


Independent Trustees (continued)



------------------------------------------------------------------------------------------------------------------------------------
                       Position Held    Length of Service            Principal Occupation During     Other Directorships
Name and Age           With the Trust   and Term of Office           Past Five Years                 Held by this Trustee
------------------------------------------------------------------------------------------------------------------------------------
                                                                                         
Stephen K. West (81)   Trustee          Class I Trustee since        Senior Counsel, Sullivan &      Director, The Swiss Helvetia
                                        2003. Term expires in        Cromwell LLP (law firm) (1998   Fund, Inc. (closed-end
                                        2010.                        - present); Partner, Sullivan   investment company);
                                                                     & Cromwell LLP (prior to 1998)  Director, AMVESCAP, PLC
                                                                                                     (investment manager)
                                                                                                     (1997 - 2005)
------------------------------------------------------------------------------------------------------------------------------------



46    Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


Trust Officers



------------------------------------------------------------------------------------------------------------------------------------
                           Position Held    Length of Service        Principal Occupation During     Other Directorships
Name and Age               with the Trust   and Term of Office       Past Five Years                 Held by this Officer
------------------------------------------------------------------------------------------------------------------------------------
                                                                                         
Christopher J. Kelley (44) Assistant        Since 2003. Serves at    Vice President and Associate    None
                           Secretary        the discretion of the    General Counsel of Pioneer
                                            Board.                   since January 2008 and
                                                                     Assistant Secretary of all of
                                                                     the Pioneer Funds since
                                                                     September 2003; Vice President
                                                                     and Senior Counsel of Pioneer
                                                                     from July 2002 to December
                                                                     2007
------------------------------------------------------------------------------------------------------------------------------------

Mark E. Bradley (50)       Treasurer        Since 2008. Serves at    Vice President - Fund           None
                                            the discretion of the    Accounting, Administration and
                                            Board.                   Controllership Services of
                                                                     Pioneer; and Treasurer of all
                                                                     of the Pioneer Funds since
                                                                     March 2008; Deputy Treasurer
                                                                     of Pioneer from March 2004 to
                                                                     February 2008; Assistant
                                                                     Treasurer of all of the
                                                                     Pioneer Funds from March 2004
                                                                     to February 2008
------------------------------------------------------------------------------------------------------------------------------------

Luis I. Presutti (44)      Assistant        Since 2003. Serves at    Assistant Vice President -      None
                           Treasurer        the discretion of the    Fund Accounting,
                                            Board.                   Administration and
                                                                     Controllership Services of
                                                                     Pioneer; and Assistant
                                                                     Treasurer of all of the
                                                                     Pioneer Funds
------------------------------------------------------------------------------------------------------------------------------------

Gary Sullivan (51)         Assistant        Since 2003. Serves at    Fund Accounting Manager - Fund  None
                           Treasurer        the discretion of the    Accounting, Administration and
                                            Board.                   Controllership Services of
                                                                     Pioneer; and Assistant
                                                                     Treasurer of all of the
                                                                     Pioneer Funds
------------------------------------------------------------------------------------------------------------------------------------

David F. Johnson (29)      Assistant        Since 2009. Serves at    Fund Administration Manager -   None
                           Treasurer        the discretion of the    Fund Accounting,
                                            Board.                   Administration and
                                                                     Controllership Services since
                                                                     November 2008 and Assistant
                                                                     Treasurer of all of the
                                                                     Pioneer Funds since January
                                                                     2009; Client Service Manager -
                                                                     Institutional Investor
                                                                     Services at State Street Bank
                                                                     from March 2003 to March 2007
------------------------------------------------------------------------------------------------------------------------------------



     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10  47


Trust Officers (continued)



------------------------------------------------------------------------------------------------------------------------------------
                           Position Held     Length of Service       Principal Occupation During     Other Directorships
 Name and Age              with the Trust    and Term of Office      Past Five Years                 Held by this Officer
------------------------------------------------------------------------------------------------------------------------------------
                                                                                         
Jean M. Bradley (57)       Chief Compliance  Since 2010. Serves at   Chief Compliance Officer of     None
                           Officer           the discretion of the   Pioneer and of all the Pioneer
                                             Board.                  Funds since March 2010;
                                                                     Director of Adviser and
                                                                     Portfolio Compliance at
                                                                     Pioneer since October 2005;
                                                                     Senior Compliance Officer for
                                                                     Columbia Management Advisers,
                                                                     Inc. from October 2003 to
                                                                     October 2005
------------------------------------------------------------------------------------------------------------------------------------


The outstanding capital stock of PFD, Pioneer and Pioneer Investment Management
Shareholder Services, Inc. ("PIMSS") is indirectly wholly owned by UniCredit
S.p.A. ("UniCredit"), one of the largest banking groups in Italy. Pioneer, the
Trust's investment adviser, provides investment management and financial
services to mutual funds, institutional and other clients.

48    Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10






                           This page for your notes.






























  Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10     49







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50     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10







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52     Pioneer Municipal High Income Advantage Trust | Annual Report | 3/31/10


How to Contact Pioneer

We are pleased to offer a variety of convenient ways for you to contact us for
assistance or information.

You can call American Stock Transfer & Trust Company (AST) for:
--------------------------------------------------------------------------------



                                             
Account Information                             1-800-710-0935

Or write to AST:
--------------------------------------------------------------------------------
For                                             Write to

General inquiries, lost dividend checks,        American Stock
change of address, lost stock certificates,     Transfer & Trust
stock transfer                                  Operations Center
                                                6201 15th Ave.
                                                Brooklyn, NY 11219

Dividend reinvestment plan (DRIP)               American Stock
                                                Transfer & Trust
                                                Wall Street Station
                                                P.O. Box 922
                                                New York, NY 10269-0560

Website                                         www.amstock.com


For additional information, please contact your investment advisor or visit our
web site www.pioneerinvestments.com.

The Trust files a complete statement of investments with the Securities and
Exchange Commission for the first and third quarters for each fiscal year on
Form N-Q. Shareowners may view the filed Form N-Q by visiting the Commission's
web site at http://www.sec.gov. The filed form may also be viewed and copied at
the Commission's Public Reference Room in Washington, DC. Information regarding
the operations of the Public Reference Room may be obtained by calling
1-800-SEC-0330.

The Trust's Chief Executive Officer is required by the New York Stock
Exchange's Listing Standards to file annually with the Exchange a certification
that he is not aware of any violation by the Trust of the Exchange's Corporate
Governance Standards applicable to the Trust. The Trust has filed such
certification.


[LOGO] PIONEER
       Investments(R)

Pioneer Investment Management, Inc.
60 State Street
Boston, MA 02109
pioneerinvestments.com







Securities offered through Pioneer Funds Distributor, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer Mutual Funds, Member SIPC
(C) 2010 Pioneer Investments 19205-04-0510




ITEM 2. CODE OF ETHICS.

(a) Disclose whether, as of the end of the period covered by the report, the
registrant has adopted a code of ethics that applies to the registrant's
principal executive officer, principal financial officer, principal accounting
officer or controller, or persons performing similar functions, regardless of
whether these individuals are employed by the registrant or a third party.  If
the registrant has not adopted such a code of ethics, explain why it has not
done so.

The registrant has adopted, as of the end of the period covered by this report,
a code of ethics that applies to the registrant's principal executive officer,
principal financial officer, principal accounting officer and controller.

(b) For purposes of this Item, the term "code of ethics" means written standards
that are reasonably designed to deter wrongdoing and to promote:

        (1) Honest and ethical conduct, including the ethical handling of actual
        or apparent conflicts of interest between personal and professional
        relationships;

        (2) Full, fair, accurate, timely, and understandable disclosure in
        reports and documents that a registrant files with, or submits to, the
        Commission and in other public communications made by the registrant;

        (3) Compliance with applicable governmental laws, rules, and
        regulations;

        (4) The prompt internal reporting of violations of the code to an
        appropriate person or persons identified in the code; and

        (5) Accountability for adherence to the code.

(c) The registrant must briefly describe the nature of any amendment, during the
period covered by the report, to a provision of its code of ethics that applies
to the registrant's principal executive officer, principal financial officer,
principal accounting officer or controller, or persons performing similar
functions, regardless of whether these individuals are employed by the
registrant or a third party, and that relates to any element of the code of
ethics definition enumerated in paragraph (b) of this Item. The registrant must
file a copy of any such amendment as an exhibit pursuant to Item 10(a), unless
the registrant has elected to satisfy paragraph (f) of this Item by posting its
code of ethics on its website pursuant to paragraph (f)(2) of this Item, or by
undertaking to provide its code of ethics to any person without charge, upon
request, pursuant to paragraph (f)(3) of this Item.

The registrant has made no amendments to the code of ethics during the period
covered by this report.

(d) If the registrant has, during the period covered by the report, granted a
waiver, including an implicit waiver, from a provision of the code of ethics to
the registrant's principal executive officer, principal financial officer,
principal accounting officer or controller, or persons performing similar
functions, regardless of whether these individuals are employed by the
registrant or a third party, that relates to one or more of the items set forth
in paragraph (b) of this Item, the registrant must briefly describe the nature
of the waiver, the name of the person to whom the waiver was granted, and the
date of the waiver.

Not applicable.

(e) If the registrant intends to satisfy the disclosure requirement under
paragraph (c) or (d) of this Item regarding an amendment to, or a waiver from,
a provision of its code of ethics that applies to the registrant's principal
executive officer, principal financial officer, principal accounting officer or
controller, or persons performing similar functions and that relates to any
element of the code of ethics definition enumerated in paragraph (b) of this
Item by posting such information on its Internet website, disclose the
registrant's Internet address and such intention.

Not applicable.

(f) The registrant must:

        (1) File with the Commission, pursuant to Item 10(a), a copy of its code
        of ethics that applies to the registrant's principal executive officer,
        principal financial officer, principal accounting officer or controller,
        or persons performing similar functions, as an exhibit to its annual
        report on this Form N-CSR;

        (2) Post the text of such code of ethics on its Internet website and
        disclose, in its most recent report on this Form N-CSR, its Internet
        address and the fact that it has posted such code of ethics on its
        Internet website; or

        (3) Undertake in its most recent report on this Form N-CSR to provide to
        any person without charge, upon request, a copy of such code of ethics
        and explain the manner in which such request may be made.
	See Item 10(2)

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

(a) (1)  Disclose that the registrant's board of trustees has determined that
         the registrant either:

    (i)  Has at least one audit committee financial expert serving on its audit
         committee; or

    (ii) Does not have an audit committee financial expert serving on its audit
         committee.

The registrant's Board of Trustees has determined that the registrant has at
least one audit committee financial expert.

    (2) If the registrant provides the disclosure required by paragraph
(a)(1)(i) of this Item, it must disclose the name of the audit committee
financial expert and whether that person is "independent." In order to be
considered "independent" for purposes of this Item, a member of an audit
committee may not, other than in his or her capacity as a member of the audit
committee, the board of trustees, or any other board committee:

    (i)  Accept directly or indirectly any consulting, advisory, or other
         compensatory fee from the issuer; or

    (ii) Be an "interested person" of the investment company as defined in
         Section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19)).

Ms. Marguerite A. Piret, an independent trustee, is such an audit committee
financial expert.

    (3) If the registrant provides the disclosure required by paragraph (a)(1)
(ii) of this Item, it must explain why it does not have an audit committee
financial expert.

Not applicable.


ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) Disclose, under the caption AUDIT FEES, the aggregate fees billed for each
of the last two fiscal years for professional services rendered by the principal
accountant for the audit of the registrant's annual financial statements or
services that are normally provided by the accountant in connection with
statutory and regulatory filings or engagements for those fiscal years.

Audit Fees
Fees for audit services provided to the Trust, including
fees associated with the filings to update its Form N-2
and issuance of comfort letters, totaled approximately
$41,600 in 2010 and $41,300 in 2009.

(b) Disclose, under the caption AUDIT-RELATED FEES, the aggregate fees billed in
each of the last two fiscal years for assurance and related services by the
principal accountant that are reasonably related to the performance of the audit
of the registrant's financial statements and are not reported under
paragraph (a) of this Item. Registrants shall describe the nature of the
services comprising the fees disclosed under this category.

Audit-Related Fees
Audit related fees for the Trust's audit related
services totaled approximately $9,652  and $9,652
in 2010 and 2009, respectively.


(c) Disclose, under the caption TAX FEES, the aggregate fees billed in each of
the last two fiscal years for professional services rendered by the principal
accountant for tax compliance, tax advice, and tax planning. Registrants shall
describe the nature of the services comprising the fees disclosed under this
category.

Tax Fees
Fees for tax compliance services, primarily for tax
returns, totaled approximately $8,290 and $8,290 for
2010 and 2009, respectively.

(d) Disclose, under the caption ALL OTHER FEES, the aggregate fees billed in
each of the last two fiscal years for products and services provided by the
principal accountant, other than the services reported in paragraphs (a) through
(c) of this Item. Registrants shall describe the nature of the services
comprising the fees disclosed under this category.

All Other Fees
There were no other fees paid in 2010 and 2009.

(e) (1) Disclose the audit committee's pre-approval policies and procedures
described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.

 PIONEER FUNDS
            APPROVAL OF AUDIT, AUDIT-RELATED, TAX AND OTHER SERVICES
                       PROVIDED BY THE INDEPENDENT AUDITOR

                  SECTION I - POLICY PURPOSE AND APPLICABILITY

The Pioneer Funds recognize the importance of maintaining the independence of
their outside auditors. Maintaining independence is a shared responsibility
involving Pioneer Investment Management, Inc ("PIM"), the audit committee and
the independent auditors.

The Funds recognize that a Fund's independent auditors: 1) possess knowledge of
the Funds, 2) are able to incorporate certain services into the scope of the
audit, thereby avoiding redundant work, cost and disruption of Fund personnel
and processes, and 3) have expertise that has value to the Funds. As a result,
there are situations where it is desirable to use the Fund's independent
auditors for services in addition to the annual audit and where the potential
for conflicts of interests are minimal. Consequently, this policy, which is
intended to comply with Rule 210.2-01(C)(7), sets forth guidelines and
procedures to be followed by the Funds when retaining the independent audit firm
to perform audit, audit-related tax and other services under those
circumstances, while also maintaining independence.

Approval of a service in accordance with this policy for a Fund shall also
constitute approval for any other Fund whose pre-approval is required pursuant
to Rule 210.2-01(c)(7)(ii).

In addition to the procedures set forth in this policy, any non-audit services
that may be provided consistently with Rule 210.2-01 may be approved by the
Audit Committee itself and any pre-approval that may be waived in accordance
with Rule 210.2-01(c)(7)(i)(C) is hereby waived.

Selection of a Fund's independent auditors and their compensation shall be
determined by the Audit Committee and shall not be subject to this policy.



                               SECTION II - POLICY

---------------- -------------------------------- -------------------------------------------------
SERVICE           SERVICE CATEGORY DESCRIPTION      SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
CATEGORY
---------------- -------------------------------- -------------------------------------------------
                                            
I.  AUDIT        Services that are directly       o Accounting research assistance
SERVICES         related to performing the        o SEC consultation, registration
                 independent audit of the Funds     statements, and reporting
                                                  o Tax accrual related matters
                                                  o Implementation of new accounting
                                                    standards
                                                  o Compliance letters (e.g. rating agency
                                                    letters)
                                                  o Regulatory reviews and assistance
                                                    regarding financial matters
                                                  o Semi-annual reviews (if requested)
                                                  o Comfort letters for closed end
                                                    offerings
---------------- -------------------------------- -------------------------------------------------
II.              Services which are not           o AICPA attest and agreed-upon procedures
AUDIT-RELATED    prohibited under Rule            o Technology control assessments
SERVICES         210.2-01(C)(4) (the "Rule")      o Financial reporting control assessments
                 and are related extensions of    o Enterprise security architecture
                 the audit services support the     assessment
                 audit, or use the
                 knowledge/expertise gained
                 from the audit procedures as a
                 foundation to complete the
                 project.  In most cases, if
                 the Audit-Related Services are
                 not performed by the Audit
                 firm, the scope of the Audit
                 Services would likely
                 increase.  The Services are
                 typically well-defined and
                 governed by accounting
                 professional standards (AICPA,
                 SEC, etc.)
---------------- -------------------------------- -------------------------------------------------

 ------------------------------------- ------------------------------------
                                    
   AUDIT COMMITTEE APPROVAL POLICY               AUDIT COMMITTEE
                                                REPORTING POLICY
 ------------------------------------- ------------------------------------
                                    
 o "One-time" pre-approval             o A summary of all such
   for the audit period for all          services and related fees
   pre-approved specific service         reported at each regularly
   subcategories.  Approval of the       scheduled Audit Committee
   independent auditors as               meeting.
   auditors for a Fund shall
   constitute pre approval for
   these services.
 ------------------------------------- ------------------------------------
 o "One-time" pre-approval             o A summary of all such
   for the fund fiscal year within       services and related fees
   a specified dollar limit              (including comparison to
   for all pre-approved                  specified dollar limits)
   specific service subcategories        reported quarterly.

 o Specific approval is
   needed to exceed the
   pre-approved dollar limit for
   these services (see general
   Audit Committee approval policy
   below for details on obtaining
   specific approvals)

 o Specific approval is
   needed to use the Fund's
   auditors for Audit-Related
   Services not denoted as
   "pre-approved", or
   to add a specific service
   subcategory as "pre-approved"
 ------------------------------------- ------------------------------------




                     SECTION III - POLICY DETAIL, CONTINUED

----------------------- --------------------------- -----------------------------------------------
   SERVICE CATEGORY          SERVICE CATEGORY        SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
                               DESCRIPTION
----------------------- --------------------------- -----------------------------------------------
                                              
III. TAX SERVICES       Services which are not      o Tax planning and support
                        prohibited by the Rule,     o Tax controversy assistance
                        if an officer of the Fund   o Tax compliance, tax returns, excise
                        determines that using the     tax returns and support
                        Fund's auditor to provide   o Tax opinions
                        these services creates
                        significant synergy in
                        the form of efficiency,
                        minimized disruption, or
                        the ability to maintain a
                        desired level of
                        confidentiality.
----------------------- --------------------------- -----------------------------------------------

------------------------------------- -------------------------
  AUDIT COMMITTEE APPROVAL POLICY         AUDIT COMMITTEE
                                          REPORTING POLICY
------------------------------------- -------------------------
------------------------------------- -------------------------
o "One-time" pre-approval             o A summary of
  for the fund fiscal  year             all such services and
  within a specified dollar limit       related fees
  				        (including comparison
  			                to specified dollar
  			                limits) reported
  			                quarterly.

o Specific approval is
  needed to exceed the
  pre-approved dollar limits for
  these services (see general
  Audit Committee approval policy
  below for details on obtaining
  specific approvals)

o Specific approval is
  needed to use the Fund's
  auditors for tax services not
  denoted as pre-approved, or to add a specific
  service subcategory as
  "pre-approved"
------------------------------------- -------------------------




                     SECTION III - POLICY DETAIL, CONTINUED

----------------------- --------------------------- -----------------------------------------------
   SERVICE CATEGORY          SERVICE CATEGORY        SPECIFIC PRE-APPROVED SERVICE SUBCATEGORIES
                               DESCRIPTION
----------------------- --------------------------- -----------------------------------------------
                                              
IV.  OTHER SERVICES     Services which are not      o Business Risk Management support
                        prohibited by the Rule,     o Other control and regulatory
A. SYNERGISTIC,         if an officer of the Fund     compliance projects
UNIQUE QUALIFICATIONS   determines that using the
                        Fund's auditor to provide
                        these services creates
                        significant synergy in
                        the form of efficiency,
                        minimized disruption,
                        the ability to maintain a
                        desired level of
                        confidentiality, or where
                        the Fund's auditors
                        posses unique or superior
                        qualifications to provide
                        these services, resulting
                        in superior value and
                        results for the Fund.
----------------------- --------------------------- -----------------------------------------------

--------------------------------------- ------------------------
    AUDIT COMMITTEE APPROVAL POLICY         AUDIT COMMITTEE
                                            REPORTING POLICY
------------------------------------- --------------------------
                                   
o "One-time" pre-approval             o A summary of
  for the fund fiscal year within       all such services and
  a specified dollar limit              related fees
  			               (including comparison
  			                to specified dollar
  				        limits) reported
                                        quarterly.
o Specific approval is
  needed to exceed the
  pre-approved dollar limits for
  these services (see general
  Audit Committee approval policy
  below for details on obtaining
  specific approvals)

o Specific approval is
  needed to use the Fund's
  auditors for "Synergistic" or
  "Unique Qualifications" Other
  Services not denoted as
  pre-approved to the left, or to
  add a specific service
  subcategory as "pre-approved"
------------------------------------- --------------------------




                     SECTION III - POLICY DETAIL, CONTINUED

----------------------- ------------------------- -----------------------------------------------
   SERVICE CATEGORY         SERVICE CATEGORY        SPECIFIC PROHIBITED SERVICE SUBCATEGORIES
                              DESCRIPTION
----------------------- ------------------------- -----------------------------------------------
                                            
PROHIBITED  SERVICES    Services which result     1. Bookkeeping or other services
                        in the auditors losing       related to the accounting records or
                        independence status          financial statements of the audit
                        under the Rule.              client*
                                                  2. Financial information systems design
                                                     and implementation*
                                                  3. Appraisal or valuation services,
                                                     fairness* opinions, or
                                                     contribution-in-kind reports
                                                  4. Actuarial services (i.e., setting
                                                     actuarial reserves versus actuarial
                                                     audit work)*
                                                  5. Internal audit outsourcing services*
                                                  6. Management functions or human
                                                     resources
                                                  7. Broker or dealer, investment
                                                     advisor, or investment banking services
                                                  8. Legal services and expert services
                                                     unrelated to the audit
                                                  9. Any other service that the Public
                                                     Company Accounting Oversight Board
                                                     determines, by regulation, is
                                                     impermissible
----------------------- ------------------------- -----------------------------------------------

------------------------------------------- ------------------------------
     AUDIT COMMITTEE APPROVAL POLICY               AUDIT COMMITTEE
                                                  REPORTING POLICY
------------------------------------------- ------------------------------
o These services are not to be              o A summary of all
  performed with the exception of the(*)      services and related
  services that may be permitted              fees reported at each
  if they would not be subject to audit       regularly scheduled
  procedures at the audit client (as          Audit Committee meeting
  defined in rule 2-01(f)(4)) level           will serve as continual
  the firm providing the service.             confirmation that has
  				              not provided any
                                              restricted services.
------------------------------------------- ------------------------------

--------------------------------------------------------------------------------
GENERAL AUDIT COMMITTEE APPROVAL POLICY:
o For all projects, the officers of the Funds and the Fund's auditors will each
  make an assessment to determine that any proposed projects will not impair
  independence.

o Potential services will be classified into the four non-restricted service
  categories and the "Approval of Audit, Audit-Related, Tax and Other
  Services" Policy above will be applied. Any services outside the specific
  pre-approved service subcategories set forth above must be specifically
  approved by the Audit Committee.

o At least quarterly, the Audit Committee shall review a report summarizing the
  services by service category, including fees, provided by the Audit firm as
  set forth in the above policy.

--------------------------------------------------------------------------------


    (2) Disclose the percentage of services described in each of paragraphs (b)
   through (d) of this Item that were approved by the audit committee pursuant
   to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

Non-Audit Services
Beginning with non-audit service contracts entered into
on or after May 6, 2003, the effective date of the new
SEC pre-approval rules, the Trust's audit committee is
required to pre-approve services to affiliates defined by
SEC rules to the extent that the services are determined
to have a direct impact on the operations or financial
reporting of the Trust. For the years ended March 31,
2010 and 2009, there were no services provided to an
affiliate that required the Trust's audit committee pre-
approval.

(f) If greater than 50 percent, disclose the percentage of hours expended on the
principal accountant's engagement to audit the registrant's financial statements
for the most recent fiscal year that were attributed to work performed by
persons other than the principal accountant's full-time, permanent employees.

N/A

(g) Disclose the aggregate non-audit fees billed by the registrant's accountant
for services rendered to the registrant, and rendered to the registrant's
investment adviser (not including any sub-adviser whose role is primarily
portfolio management and is subcontracted with or overseen by another investment
adviser), and any entity controlling, controlled by, or under common control
with the adviser that provides ongoing services to the registrant for each of
the last two fiscal years of the registrant.

The aggregate non-audit fees for the Trust and affiliates,
as previously defined, totaled approximately $17,942 in
2010 and $17,942 in 2009.

(h) Disclose whether the registrant's audit committee of the board of trustees
has considered whether the provision of non-audit services that were rendered to
the registrant's investment adviser (not including any subadviser whose role is
primarily portfolio management and is subcontracted with or overseen by another
investment adviser), and any entity controlling, controlled by, or under common
control with the investment adviser that provides ongoing services to the
registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of
Rule 2-01 of Regulation S-X is compatible with maintaining the principal
accountant's independence.

The Fund's audit committee of the Board of Trustees has considered
whether the provision of non-audit services that were rendered to the
Affiliates (as defined) that were not pre- approved pursuant to
paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with
maintaining the principal accountant's independence.

Item 5. Audit Committee of Listed Registrants

(a) If the registrant is a listed issuer as defined in Rule 10A-3
under the Exchange Act (17 CFR 240.10A-3), state whether
or not the registrant has a separately-designated standing
audit committee established in accordance with Section
3(a)(58)(A) of the Exchange Act (15 U.S.C. 78c(a)(58)(A)).
If the registrant has such a committee, however designated,
identify each committee member. If the entire board of directors
is acting as the registrants audit committee as specified in
Section 3(a)(58)(B) of the Exchange Act (15 U.S.C. 78c(a)(58)(B)),
so state.

The registrant has a separately-designated standing audit
committe eestablished in accordance with Section
3(a)(58)(A) of the Exchange Act (15 U.S.C. 78c(a)(58)(A)).

(b) If applicable, provide the disclosure required by Rule 10A-3(d)
under the Exchange Act (17 CFR 240.10A-3(d)) regarding an exemption
from the listing standards for audit committees.

N/A

Item 6. Schedule of Investments.

File Schedule I Investments in securities of unaffiliated issuers
as of the close of the reporting period as set forth in 210.12-
12 of Regulation S-X [17 CFR 210.12-12], unless the schedule is
included as part of the report to shareholders filed under Item
1 of this Form.

Included in Item 1


ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR
CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

A closed-end management investment company that is filing an annual report on
this Form N-CSR must, unless it invests exclusively in non-voting securities,
describe the policies and procedures that it uses to determine how to vote
proxies relating to portfolio securities, including the procedures that the
company uses when a vote presents a conflict between the interests of its
shareholders, on the one hand, and those of the company's investment adviser;
principal underwriter; or any affiliated person (as defined in Section 2(a)(3)
of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(3)) and the rules
thereunder) of the company, its investment adviser, or its principal
underwriter, on the other. Include any policies and procedures of the company's
investment adviser, or any other third party, that the company uses, or that are
used on the company's behalf, to determine how to vote proxies relating to
portfolio securities.

		    Proxy Voting Policies and Procedures of
                       Pioneer Investment Management, Inc.

                            VERSION DATED July, 2004

                                    Overview

   Pioneer Investment Management, Inc. ("Pioneer") is a fiduciary that owes
   each of its client's duties of care and loyalty with respect to all
   services undertaken on the client's behalf, including proxy voting. When
   Pioneer has been delegated proxy-voting authority for a client, the duty of
   care requires Pioneer to monitor corporate events and to vote the proxies.
   To satisfy its duty of loyalty, Pioneer must place its client's interests
   ahead of its own and must cast proxy votes in a manner consistent with the
   best interest of its clients. Pioneer will vote all proxies presented in a
   timely manner.

   The Proxy Voting Policies and Procedures are designed to complement
   Pioneer's investment policies and procedures regarding its general
   responsibility to monitor the performance and/or corporate events of
   companies that are issuers of securities held in accounts managed by
   Pioneer. Pioneer's Proxy Voting Policies summarize Pioneer's position on a
   number of issues solicited by companies held by Pioneer's clients. The
   policies are guidelines that provide a general indication on how Pioneer
   would vote but do not include all potential voting scenarios.

   Pioneer's Proxy Voting Procedures detail monitoring of voting, exception
   votes, and review of conflicts of interest and ensure that case-by-case
   votes are handled within the context of the overall guidelines (i.e. best
   interest of client). The overriding goal is that all proxies for US and
   non-US companies that are received promptly will be voted in accordance
   with Pioneer's policies or specific client instructions. All shares in a
   company held by Pioneer-managed accounts will be voted alike, unless a
   client has given us specific voting instructions on an issue or has not
   delegated authority to us or the Proxy Voting Oversight Group determines
   that the circumstances justify a different approach.

   Pioneer does not delegate the authority to vote proxies relating to its
   clients to any of its affiliates, which include other subsidiaries of
   UniCredito.

   Any questions about these policies and procedures should be directed to the
   Proxy Coordinator.

                                       1


                             Proxy Voting Procedures

   Proxy Voting Service
   Pioneer has engaged an independent proxy voting service to assist in the
   voting of proxies. The proxy voting service works with custodians to ensure
   that all proxy materials are received by the custodians and are processed
   in a timely fashion. To the extent applicable, the proxy voting service
   votes all proxies in accordance with the proxy voting policies established
   by Pioneer. The proxy voting service will refer proxy questions to the
   Proxy Coordinator (described below) for instructions under circumstances
   where: (1) the application of the proxy voting guidelines is unclear; (2) a
   particular proxy question is not covered by the guidelines; or (3) the
   guidelines call for specific instructions on a case-by-case basis. The
   proxy voting service is also requested to call to the Proxy Coordinator's
   attention specific proxy questions that, while governed by a guideline,
   appear to involve unusual or controversial issues. Pioneer reserves the
   right to attend a meeting in person and may do so when it determines that
   the company or the matters to be voted on at the meeting are strategically
   important to its clients.

   Proxy Coordinator
   Pioneer's Director of Investment Operations (the "Proxy Coordinator")
   coordinates the voting, procedures and reporting of proxies on behalf of
   Pioneer's clients. The Proxy Coordinator will deal directly with the proxy
   voting service and, in the case of proxy questions referred by the proxy
   voting service, will solicit voting recommendations and instructions from
   the Director of Portfolio Management US or, to the extent applicable,
   investment sub-advisers. The Proxy Coordinator is responsible for ensuring
   that these questions and referrals are responded to in a timely fashion and
   for transmitting appropriate voting instructions to the proxy voting
   service. The Proxy Coordinator is responsible for verifying with the
   Compliance Department whether Pioneer's voting power is subject to any
   limitations or guidelines issued by the client (or in the case of an
   employee benefit plan, the plan's trustee or other fiduciaries).

   Referral Items
   From time to time, the proxy voting service will refer proxy questions to
   the Proxy Coordinator that are described by Pioneer's policy as to be voted
   on a case-by-case basis, that are not covered by Pioneer's guidelines or
   where Pioneer's guidelines may be unclear with respect to the matter to be
   voted on. Under such certain circumstances, the Proxy Coordinator will seek
   a written voting recommendation from the Director of Portfolio Management
   US. Any such recommendation will include: (i) the manner in which the
   proxies should be voted; (ii) the rationale underlying any such decision;
   and (iii) the disclosure of any contacts or communications made between
   Pioneer and any outside parties concerning the proxy proposal prior to the
   time that the voting instructions are provided. In addition, the Proxy
   Coordinator will ask the Compliance Department to review the question for
   any actual or apparent conflicts of interest as described below under
   "Conflicts of

                                       2


   Interest." The Compliance Department will provide a "Conflicts of Interest
   Report," applying the criteria set forth below under "Conflicts of
   Interest," to the Proxy Coordinator summarizing the results of its review.
   In the absence of a conflict of interest, the Proxy Coordinator will vote
   in accordance with the recommendation of the Director of Portfolio
   Management US.

   If the matter presents a conflict of interest for Pioneer, then the Proxy
   Coordinator will refer the matter to the Proxy Voting Oversight Group for a
   decision. In general, when a conflict of interest is present, Pioneer will
   vote according to the recommendation of the Director of Portfolio
   Management US where such recommendation would go against Pioneer's interest
   or where the conflict is deemed to be immaterial. Pioneer will vote
   according to the recommendation of its proxy voting service when the
   conflict is deemed to be material and the Pioneer's internal vote
   recommendation would favor Pioneer's interest, unless a client specifically
   requests Pioneer to do otherwise. When making the final determination as to
   how to vote a proxy, the Proxy Voting Oversight Group will review the
   report from the Director of Portfolio Management US and the Conflicts of
   Interest Report issued by the Compliance Department.

   Conflicts of Interest
   A conflict of interest occurs when Pioneer's interests interfere, or appear
   to interfere with the interests of Pioneer's clients. Occasionally, Pioneer
   may have a conflict that can affect how its votes proxies. The conflict may
   be actual or perceived and may exist when the matter to be voted on
   concerns:

       o      An affiliate of Pioneer,  such as another company  belonging to
              the UniCredito  Italiano  S.p.A.  banking group (a "UniCredito
              Affiliate");

       o      An issuer of a security for which Pioneer acts as a sponsor,
              advisor, manager, custodian, distributor, underwriter, broker, or
              other similar capacity (including those securities specifically
              declared by PGAM to present a conflict of interest for Pioneer);

       o      An issuer of a security for which UniCredito has informed Pioneer
              that a UniCredito Affiliate acts as a sponsor, advisor, manager,
              custodian, distributor, underwriter, broker, or other similar
              capacity; or

       o      A person with whom Pioneer (or any of its affiliates) has an
              existing, material contract or business relationship that was not
              entered into in the ordinary course of Pioneer's business.

       o      Pioneer will abstain from voting with respect to companies
              directly or indirectly owned by UniCredito Italiano Group, unless
              otherwise directed by a client. In addition, Pioneer will inform
              PGAM Global Compliance and the PGAM Independent Directors before
              exercising such rights.

   Any associate involved in the proxy voting process with knowledge of any
   apparent or actual conflict of interest must disclose such conflict to the
   Proxy Coordinator and the Compliance Department. The Compliance Department
   will review each item referred to Pioneer to determine whether an actual or
   potential conflict of interest with Pioneer exists in connection with the
   proposal(s) to be voted upon. The review will be conducted by comparing the
   apparent parties affected by the proxy proposal being

                                       3


   voted upon against the Compliance Department's internal list of interested
   persons and, for any matches found, evaluating the anticipated magnitude
   and possible probability of any conflict of interest being present. For
   each referral item, the determination regarding the presence or absence of
   any actual or potential conflict of interest will be documented in a
   Conflicts of Interest Report to the Proxy Coordinator.

   Securities Lending
   In conjunction with industry standards Proxies are not available to be
   voted when the shares are out on loan through either Pioneer's lending
   program or a client's managed security lending program. However, Pioneer
   will reserve the right to recall lent securities so that they may be voted
   according to the Pioneer's instructions. If a portfolio manager would like
   to vote a block of previously lent shares, the Proxy Coordinator will work
   with the portfolio manager and Investment Operations to recall the
   security, to the extent possible, to facilitate the vote on the entire
   block of shares.

   Share-Blocking

   "Share-blocking" is a market practice whereby shares are sent to a
   custodian (which may be different than the account custodian) for record
   keeping and voting at the general meeting. The shares are unavailable for
   sale or delivery until the end of the blocking period (typically the day
   after general meeting date).

   Pioneer will vote in those countries with "share-blocking." In the event a
   manager would like to sell a security with "share-blocking", the Proxy
   Coordinator will work with the Portfolio Manager and Investment Operations
   Department to recall the shares (as allowable within the market time-frame
   and practices) and/or communicate with executing brokerage firm. A list of
   countries with "share-blocking" is available from the Investment Operations
   Department upon request.

   Record Keeping
   The Proxy Coordinator shall ensure that Pioneer's proxy voting service:

       o   Retains a copy of the proxy statement received (unless the proxy
           statement is available from the SEC's Electronic Data Gathering,
           Analysis, and Retrieval (EDGAR) system);

       o   Retains a record of the vote cast;

       o   Prepares Form N-PX for filing on behalf of each client that is a
           registered investment company; and

       o   Is able to promptly provide Pioneer with a copy of the voting
           record upon its request.

                                       4


   The Proxy Coordinator shall ensure that for those votes that may require
   additional documentation (i.e. conflicts of interest, exception votes and
   case-by-case votes) the following records are maintained:

       o    A record memorializing the basis for each referral vote cast;

       o    A copy of any document created by Pioneer that was material in
            making the decision on how to vote the subject proxy; and

       o    A copy of any conflict notice, conflict consent or any other
            written communication (including emails or other electronic
            communications) to or from the client (or in the case of an
            employee benefit plan, the plan's trustee or other fiduciaries)
            regarding the subject proxy vote cast by, or the vote
            recommendation of, Pioneer.

       o    Pioneer shall maintain the above records in the client's file for a
            period not less than ten (10) years.

     Disclosure
     Pioneer shall take reasonable measures to inform its clients of the process
     or procedures clients must follow to obtain information regarding how
     Pioneer voted with respect to assets held in their accounts. In addition,
     Pioneer shall describe to clients its proxy voting policies and procedures
     and will furnish a copy of its proxy voting policies and procedures upon
     request. This information may be provided to clients through Pioneer's Form
     ADV (Part II) disclosure, by separate notice to the client, or through
     Pioneer's website.

     Proxy Voting Oversight Group
     The members of the Proxy Voting Oversight Group are Pioneer's: Director of
     Portfolio Management US, Head of Investment Operations, and Director of
     Compliance. Other members of Pioneer will be invited to attend meetings and
     otherwise participate as necessary. The Head of Investment Operations will
     chair the Proxy Voting Oversight Group.

     The Proxy Voting Oversight Group is responsible for developing, evaluating,
     and changing (when necessary) Pioneer's Proxy Voting Policies and
     Procedures. The group meets at least annually to evaluate and review these
     policies and procedures and the services of its third-party proxy voting
     service. In addition, the Proxy Voting Oversight Group will meet as
     necessary to vote on referral items and address other business as
     necessary.

     Amendments
     Pioneer may not amend its Proxy Voting Policies And Procedures without the
     prior approval of the Proxy Voting Oversight Group and its corporate
     parent, Pioneer Global Asset Management S.p.A

                                       5


   Proxy Voting Policies
   Pioneer's sole concern in voting proxies is the economic effect of the
   proposal on the value of portfolio holdings, considering both the short-
   and long-term impact. In many instances, Pioneer believes that supporting
   the company's strategy and voting "for" management's proposals builds
   portfolio value. In other cases, however, proposals set forth by management
   may have a negative effect on that value, while some shareholder proposals
   may hold the best prospects for enhancing it. Pioneer monitors developments
   in the proxy-voting arena and will revise this policy as needed.

   All proxies that are received promptly will be voted in accordance with the
   specific policies listed below. All shares in a company held by
   Pioneer-managed accounts will be voted alike, unless a client has given us
   specific voting instructions on an issue or has not delegated authority to
   us. Proxy voting issues will be reviewed by Pioneer's Proxy Voting
   Oversight Group, which consists of the Director of Portfolio Management US,
   the Director of Investment Operations (the Proxy Coordinator), and the
   Director of Compliance.

   Pioneer has established Proxy Voting Procedures for identifying and
   reviewing conflicts of interest that may arise in the voting of proxies.

   Clients may request, at any time, a report on proxy votes for securities
   held in their portfolios and Pioneer is happy to discuss our proxy votes
   with company management. Pioneer retains a proxy voting service to provide
   research on proxy issues and to process proxy votes.

Administrative
   While administrative items appear infrequently in U.S. issuer proxies, they
   are quite common in non-U.S. proxies.

   We will generally support these and similar management proposals:

       o    Corporate name change.

       o    A change of corporate headquarters.

       o    Stock exchange listing.

       o    Establishment of time and place of annual meeting.

       o    Adjournment or postponement of annual meeting.

       o    Acceptance/approval of financial statements.

       o    Approval of dividend payments, dividend reinvestment plans and other
            dividend-related proposals.

       o    Approval of minutes and other formalities.

                                       6


       o    Authorization of the transferring of reserves and allocation of
            income.

       o    Amendments to authorized signatories.

       o    Approval of accounting method changes or change in fiscal year-end.

       o    Acceptance of labor agreements.

       o    Appointment of internal auditors.

   Pioneer will vote on a case-by-case basis on other routine business;
   however, Pioneer will oppose any routine business proposal if insufficient
   information is presented in advance to allow Pioneer to judge the merit of
   the proposal. Pioneer has also instructed its proxy voting service to
   inform Pioneer of its analysis of any administrative items inconsistent, in
   its view, with supporting the value of Pioneer portfolio holdings so that
   Pioneer may consider and vote on those items on a case-by-case basis.

Auditors
     We normally vote for proposals to:

       o    Ratify the auditors. We will consider a vote against if we are
            concerned about the auditors' independence or their past work for
            the company. Specifically, we will oppose the ratification of
            auditors and withhold votes from audit committee members if
            non-audit fees paid by the company to the auditing firm exceed the
            sum of audit fees plus audit-related fees plus permissible tax
            fees according to the disclosure categories proposed by the
            Securities and Exchange Commission.

       o    Restore shareholder rights to ratify the auditors.

     We will normally oppose proposals that require companies to:

       o    Seek bids from other auditors.

       o    Rotate auditing firms, except where the rotation is statutorily
            required or where rotation would demonstrably strengthen financial
            disclosure.

       o    Indemnify auditors.

       o    Prohibit auditors from engaging in non-audit services for the
            company.

     Board of Directors
     On issues related to the board of directors, Pioneer normally supports
     management. We will, however, consider a vote against management in
     instances where corporate performance has been very poor or where the board
     appears to lack independence.

                                       7


     General Board Issues
     Pioneer will vote for:

       o    Audit, compensation and nominating committees composed of
            independent directors exclusively.

       o    Indemnification for directors for actions taken in good faith in
            accordance with the business judgment rule. We will vote against
            proposals for broader indemnification.

       o    Changes in board size that appear to have a legitimate business
            purpose and are not primarily for anti-takeover reasons.

       o    Election of an honorary director.

     We will vote against:

       o    Minimum stock ownership by directors.

       o    Term limits for directors. Companies benefit from experienced
            directors, and shareholder control is better achieved through
            annual votes.

       o    Requirements for union or special interest representation on the
            board.

       o    Requirements to provide two candidates for each board seat.

     We will vote on a case-by case basis on these issues:

       o    Separate chairman and CEO positions. We will consider voting with
            shareholders on these issues in cases of poor corporate
            performance.

     Elections of Directors
     In uncontested elections of directors we will vote against:

       o    Individual directors with absenteeism above 25% without valid
            reason. We support proposals that require disclosure of director
            attendance.

       o    Insider directors and affiliated outsiders who sit on the audit,
            compensation, stock option or nominating committees. For the
            purposes of our policy, we accept the definition of affiliated
            directors provided by our proxy voting service.

     We will also vote against:

       o    Directors who have failed to act on a takeover offer where the
            majority of shareholders have tendered their shares.

       o    Directors who appear to lack independence or are associated with
            very poor corporate performance.

                                       8


     We will vote on a case-by case basis on these issues:

       o    Re-election of directors who have implemented or renewed a
            dead-hand or modified dead-hand poison pill (a "dead-hand poison
            pill" is a shareholder rights plan that may be altered only by
            incumbent or "dead " directors. These plans prevent a potential
            acquirer from disabling a poison pill by obtaining control of the
            board through a proxy vote).

       o    Contested election of directors.

       o    Prior to phase-in required by SEC, we would consider supporting
            election of a majority of independent directors in cases of poor
            performance.

       o    Mandatory retirement policies.

       o    Directors who have ignored a shareholder proposal that has been
            approved by shareholders for two consecutive years.

     Takeover-Related Measures
     Pioneer is generally opposed to proposals that may discourage takeover
     attempts. We believe that the potential for a takeover helps ensure that
     corporate performance remains high.

     Pioneer will vote for:

       o    Cumulative voting.

       o    Increase ability for shareholders to call special meetings.

       o    Increase ability for shareholders to act by written consent.

       o    Restrictions on the ability to make greenmail payments.

       o    Submitting rights plans to shareholder vote.

       o    Rescinding shareholder rights plans ("poison pills").

       o    Opting out of the following state takeover statutes:

     o Control share acquisition statutes, which deny large holders voting
       rights on holdings over a specified threshold.

     o Control share cash-out provisions, which require large holders to
       acquire shares from other holders.

     o Freeze-out provisions, which impose a waiting period on large
       holders before they can attempt to gain control.

     o Stakeholder laws, which permit directors to consider interests of
       non-shareholder constituencies.

                                       9


     o Disgorgement provisions, which require acquirers to disgorge profits
       on purchases made before gaining control.

     o Fair price provisions.

     o Authorization of shareholder rights plans.

     o Labor protection provisions.

     o Mandatory classified boards.

     We will vote on a case-by-case basis on the following issues:

       o    Fair price provisions. We will vote against provisions requiring
            supermajority votes to approve takeovers. We will also consider
            voting against proposals that require a supermajority vote to
            repeal or amend the provision. Finally, we will consider the
            mechanism used to determine the fair price; we are generally
            opposed to complicated formulas or requirements to pay a premium.

       o    Opting out of state takeover statutes regarding fair price
            provisions. We will use the criteria used for fair price
            provisions in general to determine our vote on this issue.

       o    Proposals that allow shareholders to nominate directors.

     We will vote against:

       o    Classified boards, except in the case of closed-end mutual funds.

       o    Limiting shareholder ability to remove or appoint directors. We
            will support proposals to restore shareholder authority in this
            area. We will review on a case-by-case basis proposals that
            authorize the board to make interim appointments.

       o    Classes of shares with unequal voting rights.

       o    Supermajority vote requirements.

       o    Severance packages ("golden" and "tin" parachutes). We will support
            proposals to put these packages to shareholder vote.

       o    Reimbursement of dissident proxy solicitation expenses. While we
            ordinarily support measures that encourage takeover bids, we
            believe that management should have full control over corporate
            funds.

       o    Extension of advance notice requirements for shareholder proposals.

       o    Granting board authority normally retained by shareholders (e.g.,
            amend charter, set board size).

       o    Shareholder rights plans ("poison pills"). These plans generally
            allow shareholders to buy additional shares at a below-market
            price in the event of a change in control and may deter some bids.

                                       10


     Capital Structure
     Managements need considerable flexibility in determining the company's
     financial structure, and Pioneer normally supports managements' proposals
     in this area. We will, however, reject proposals that impose high barriers
     to potential takeovers.

     Pioneer will vote for:

       o    Changes in par value.

       o    Reverse splits, if accompanied by a reduction in number of shares.

       o    Share repurchase programs, if all shareholders may participate on
            equal terms.

       o    Bond issuance.

       o    Increases in "ordinary" preferred stock.

       o    Proposals to have blank-check common stock placements (other than
            shares issued in the normal course of business) submitted for
            shareholder approval.

       o    Cancellation of company treasury shares.

     We will vote on a case-by-case basis on the following issues:

       o    Reverse splits not accompanied by a reduction in number of shares,
            considering the risk of delisting.

       o    Increase in authorized common stock. We will make a determination
            considering, among other factors:

     o Number of shares currently available for issuance;

     o Size of requested increase (we would normally approve increases of up to
       100% of current authorization);

     o Proposed use of the additional shares; and

     o Potential consequences of a failure to increase the number of shares
       outstanding (e.g., delisting or bankruptcy).

       o    Blank-check preferred. We will normally oppose issuance of a new
            class of blank-check preferred, but may approve an increase in a
            class already outstanding if the company has demonstrated that it
            uses this flexibility appropriately.

       o    Proposals to submit private placements to shareholder vote.

       o    Other financing plans.

     We will vote against preemptive rights that we believe limit a company's
financing flexibility.

                                      11


     Compensation
     Pioneer supports compensation plans that link pay to shareholder returns
     and believes that management has the best understanding of the level of
     compensation needed to attract and retain qualified people. At the same
     time, stock-related compensation plans have a significant economic impact
     and a direct effect on the balance sheet. Therefore, while we do not want
     to micromanage a company's compensation programs, we will place limits on
     the potential dilution these plans may impose.

     Pioneer will vote for:

       o    401(k) benefit plans.

       o    Employee stock ownership plans (ESOPs), as long as shares
            allocated to ESOPs are less than 5% of outstanding shares. Larger
            blocks of stock in ESOPs can serve as a takeover defense. We will
            support proposals to submit ESOPs to shareholder vote.

       o    Various issues related to the Omnibus Budget and Reconciliation Act
            of 1993 (OBRA), including:

     o Amendments to performance plans to conform with OBRA;

     o Caps on annual grants or amendments of administrative features;

     o Adding performance goals; and

     o Cash or cash-and-stock bonus plans.

       o    Establish a process to link pay, including stock-option grants, to
            performance, leaving specifics of implementation to the company.

       o    Require that option repricings be submitted to shareholders.

       o    Require the expensing of stock-option awards.

       o    Require reporting of executive retirement benefits (deferred
            compensation, split-dollar life insurance, SERPs, and pension
            benefits).

       o    Employee stock purchase plans where the purchase price is equal to
            at least 85% of the market price, where the offering period is no
            greater than 27 months and where potential dilution (as defined
            below) is no greater than 10%.

                                       12


     We will vote on a case-by-case basis on the following issues:

       o    Executive and director stock-related compensation plans. We will
            consider the following factors when reviewing these plans:

       o    The program must be of a reasonable size. We will approve plans
            where the combined employee and director plans together would
            generate less than 15% dilution. We will reject plans with 15% or
            more potential dilution.

            Dilution = (A + B + C) / (A + B + C + D), where

            A = Shares reserved for plan/amendment,

            B = Shares available under continuing plans,

            C = Shares granted but unexercised and

            D = Shares outstanding.

       o    The plan must not:

            o   Explicitly permit unlimited option repricing authority or that
                have repriced in the past without shareholder approval.

            o   Be a self-replenishing "evergreen" plan, plans that grant
                discount options and tax offset payments.

     o We are generally in favor of proposals that increase participation beyond
       executives.

     o We generally support proposals asking companies to adopt rigorous
       vesting provisions for stock option plans such as those that vest
       incrementally over, at least, a three- or four-year period with a pro
       rata portion of the shares becoming exercisable on an annual basis
       following grant date.

     o We generally support proposals asking companies to disclose their
       window period policies for stock transactions. Window period policies
       ensure that employees do not exercise options based on insider
       information contemporaneous with quarterly earnings releases and other
       material corporate announcements.

     o We generally support proposals asking companies to adopt stock holding
       periods for their executives.

       o    All other employee stock purchase plans.

       o    All other compensation-related proposals, including deferred
            compensation plans, employment agreements, loan guarantee programs
            and retirement plans.

       o    All other proposals regarding stock compensation plans, including
            extending the life of a plan, changing vesting restrictions,
            repricing options, lengthening exercise periods or accelerating
            distribution of awards and pyramiding and cashless exercise
            programs.

                                       13


     We will vote against:

       o    Pensions for non-employee directors. We believe these retirement
            plans reduce director objectivity.

       o    Elimination of stock option plans.

     We will vote on a case-by case basis on these issues:

       o    Limits on executive and director pay.

       o    Stock in lieu of cash compensation for directors.

     Corporate Governance
     Pioneer will vote for:

       o    Confidential Voting.

       o    Equal access provisions, which allow shareholders to contribute
            their opinion to proxy materials.

       o    Proposals requiring directors to disclose their ownership of shares
            in the company.

     We will vote on a case-by-case basis on the following issues:

       o    Change in the state of incorporation. We will support
            reincorporations supported by valid business reasons. We will
            oppose those that appear to be solely for the purpose of
            strengthening takeover defenses.

       o    Bundled proposals. We will evaluate the overall impact of the
            proposal.

       o    Adopting or amending the charter, bylaws or articles of association.

       o    Shareholder appraisal rights, which allow shareholders to demand
            judicial review of an acquisition price.

     We will vote against:

       o    Shareholder advisory committees. While management should solicit
            shareholder input, we prefer to leave the method of doing so to
            management's discretion.

       o    Limitations on stock ownership or voting rights.

       o    Reduction in share ownership disclosure guidelines.

                                       14


     Mergers and Restructurings
     Pioneer will vote on the following and similar issues on a case-by-case
     basis:

       o    Mergers and acquisitions.

       o    Corporate restructurings, including spin-offs, liquidations, asset
            sales, joint ventures, conversions to holding company and
            conversions to self-managed REIT structure.

       o    Debt restructurings.

       o    Conversion of securities.

       o    Issuance of shares to facilitate a merger.

       o    Private placements, warrants, convertible debentures.

       o    Proposals requiring management to inform shareholders of merger
            opportunities.

     We will normally vote against shareholder proposals requiring that the
     company be put up for sale.

     Mutual Funds
     Many of our portfolios may invest in shares of closed-end mutual funds or
     exchange-traded funds. The non-corporate structure of these investments
     raises several unique proxy voting issues.

     Pioneer will vote for:

       o    Establishment of new classes or series of shares.

       o    Establishment of a master-feeder structure.

     Pioneer will vote on a case-by-case on:

       o    Changes in investment policy. We will normally support changes
            that do not affect the investment objective or overall risk level
            of the fund. We will examine more fundamental changes on a
            case-by-case basis.

       o    Approval of new or amended advisory contracts.

       o    Changes from closed-end to open-end format.

       o    Authorization for, or increase in, preferred shares.

       o    Disposition of assets, termination, liquidation, or mergers.

       o    Classified boards of closed-end mutual funds, but will typically
            support such proposals.

                                       15


     Social Issues
     Pioneer will abstain on stockholder proposals calling for greater
     disclosure of corporate activities with regard to social issues. "Social
     Issues" may generally be described as shareholder proposals for a company
     to:

       o    Conduct studies regarding certain issues of public concern and
            interest;

       o    Study the feasibility of the company taking certain actions with
            regard to such issues; or

       o    Take specific action, including ceasing certain behavior and
            adopting company standards and principles, in relation to issues
            of public concern and interest.

     We believe these issues are important and should receive management
     attention.

     Pioneer will vote against proposals calling for substantial changes in the
     company's business or activities. We will also normally vote against
     proposals with regard to contributions, believing that management should
     control the routine disbursement of funds.

                                       16


Item 8. Portfolio Managers of Closed-End Management Investment
        Companies.

(a) If the registrant is a closed-end management investment company that
is filing an annual report on this Form N-CSR,provide the following
information:
(1) State the name, title, and length of service of the person or persons
employed by or associated with the registrant or an investment adviser
of the registrant who are primarily responsible for the day-to-day management
of the registrants portfolio (Portfolio Manager). Also state each Portfolio
Managers business experience during the past 5 years.

Additional Information About the Portfolio Managers

Other Accounts Managed by the Portfolio Managers. The table below indicates, for
the portfolio manager of the fund, information about the accounts other than the
fund over which the portfolio manager has day-to-day investment responsibility.
All information on the number of accounts and total assets in the table is as of
March 31, 2010. For purposes of the table, "Other Pooled Investment Vehicles"
may include investment partnerships, undertakings for collective investments in
transferable securities ("UCITS") and other non-U.S. investment funds and group
trusts, and "Other Accounts" may include separate accounts for institutions or
individuals, insurance company general or separate accounts, pension funds and
other similar institutional accounts but generally do not include the portfolio
manager's personal investment accounts or those which the manager may be deemed
to own beneficially under the code of ethics. Certain funds and other accounts
managed by the portfolio manager may have substantially similar investment
strategies.

                                                                                            

--------------------- -------------------- ----------------- ------------------- ------------------ -------------------
Name of Portfolio     Type of Account      Number of         Total Assets        Number of          Assets Managed
Manager                                    Accounts Managed  Managed             Accounts Managed   for which
                                                                                 for which          Advisory Fee is
                                                                                 Advisory Fee is    Performance-Based
                                                                                 Performance-Based
--------------------- -------------------- ----------------- ------------------- ------------------ -------------------
--------------------- -------------------- ----------------- ------------------- ------------------ -------------------
David Eurkus          Other Registered     3                 $1,644,212,000      N/A                N/A
                      Investment
                      Companies
                      -------------------- ----------------- ------------------- ------------------ -------------------
                      -------------------- ----------------- ------------------- ------------------ -------------------
                      Other Pooled         0                 $0                  N/A                N/A
                      Investment Vehicles
                      -------------------- ----------------- ------------------- ------------------ -------------------
                      -------------------- ----------------- ------------------- ------------------ -------------------
                      Other Accounts       1                 $10,612,000         N/A                N/A
--------------------- -------------------- ----------------- ------------------- ------------------ -------------------




Potential Conflicts of Interest. When a portfolio manager is responsible for the
management of more than one account, the potential arises for the portfolio
manager to favor one account over another. The principal types of potential
conflicts of interest that may arise are discussed below. For the reasons
outlined below, Pioneer does not believe that any material conflicts are likely
to arise out of a portfolio manager's responsibility for the management of the
fund as well as one or more other accounts. Although Pioneer has adopted
procedures that it believes are reasonably designed to detect and prevent
violations of the federal securities laws and to mitigate the potential for
conflicts of interest to affect its portfolio management decisions, there can be
no assurance that all conflicts will be identified or that all procedures will
be effective in mitigating the potential for such risks. Generally, the risks of
such conflicts of interest are increased to the extent that a portfolio manager
has a financial incentive to favor one account over another. Pioneer has
structured its compensation arrangements in a manner that is intended to limit
such potential for conflicts of interest. See "Compensation of Portfolio
Managers" below.

o    A portfolio  manager could favor one account over another in allocating new
     investment  opportunities that have limited supply,  such as initial public
     offerings  and  private  placements.  If, for  example,  an initial  public
     offering  that was expected to appreciate  in value  significantly  shortly
     after the offering was allocated to a single  account,  that account may be
     expected to have better investment performance than other accounts that did
     not  receive an  allocation  of the  initial  public  offering.  Generally,
     investments  for which there is limited  availability  are allocated  based
     upon a range of factors  including  available cash and consistency with the
     accounts' investment objectives and policies.  This allocation  methodology
     necessarily  involves some subjective elements but is intended over time to
     treat  each  client  in  an  equitable  and  fair  manner.  Generally,  the
     investment  opportunity is allocated among participating  accounts on a pro
     rata basis.  Although  Pioneer  believes that its practices are  reasonably
     designed to treat each client in an equitable and fair manner, there may be
     instances where a fund may not participate,  or may participate to a lesser
     degree than other clients, in the allocation of an investment opportunity.

o    A portfolio  manager  could favor one account  over another in the order in
     which trades for the accounts are placed. If a portfolio manager determines
     to  purchase a security  for more than one account in an  aggregate  amount
     that  may  influence  the  market  price  of the  security,  accounts  that
     purchased or sold the  security  first may receive a more  favorable  price
     than accounts that made subsequent transactions. The less liquid the market
     for the security or the greater the percentage that the proposed  aggregate
     purchases or sales represent of average daily trading  volume,  the greater
     the  potential  for  accounts  that make  subsequent  purchases or sales to
     receive a less favorable price.  When a portfolio  manager intends to trade
     the same  security  on the same day for more than one  account,  the trades
     typically  are  "bunched,"  which means that the trades for the  individual
     accounts are aggregated and each account receives the same price. There are
     some  types  of  accounts  as to which  bunching  may not be  possible  for
     contractual   reasons   (such   as   directed   brokerage    arrangements).
     Circumstances  may also arise where the trader  believes  that bunching the
     orders may not result in the best possible  price.  Where those accounts or
     circumstances  are  involved,  Pioneer  will  place  the  order in a manner
     intended to result in as favorable a price as possible for such client.

o    A  portfolio  manager  could  favor an account if the  portfolio  manager's
     compensation is tied to the performance of that account to a greater degree
     than other accounts managed by the portfolio manager.  If, for example, the
     portfolio  manager  receives a bonus based upon the  performance of certain
     accounts  relative to a benchmark  while other accounts are disregarded for
     this purpose, the portfolio manager will have a financial incentive to seek
     to have the accounts that determine the portfolio  manager's  bonus achieve
     the best possible  performance to the possible detriment of other accounts.
     Similarly,  if  Pioneer  receives a  performance-based  advisory  fee,  the
     portfolio manager may favor that account, whether or not the performance of
     that account directly determines the portfolio manager's compensation.

o    A portfolio  manager could favor an account if the portfolio  manager has a
     beneficial  interest in the account,  in order to benefit a large client or
     to compensate a client that had poor returns. For example, if the portfolio
     manager held an interest in an investment  partnership  that was one of the
     accounts managed by the portfolio manager, the portfolio manager would have
     an economic  incentive to favor the account in which the portfolio  manager
     held an interest.

o    If the  different  accounts have  materially  and  potentially  conflicting
     investment  objectives or  strategies,  a conflict of interest could arise.
     For example,  if a portfolio  manager  purchases a security for one account
     and sells the same security for another  account,  such trading pattern may
     disadvantage  either the account that is long or short. In making portfolio
     manager  assignments,  Pioneer seeks to avoid such potentially  conflicting
     situations.  However, where a portfolio manager is responsible for accounts
     with differing investment  objectives and policies, it is possible that the
     portfolio  manager  will  conclude  that it is in the best  interest of one
     account to sell a portfolio  security  while another  account  continues to
     hold or increase the holding in such security.


Compensation of Portfolio Managers. Pioneer has adopted a system of compensation
for portfolio managers that seeks to align the financial interests of the
portfolio managers with those of shareholders of the accounts (including Pioneer
funds) the portfolio managers manage, as well as with the financial performance
of Pioneer. The compensation program for all Pioneer portfolio managers includes
a base salary (determined by the rank and tenure of the employee) and an annual
bonus program, as well as customary benefits that are offered generally to all
full-time employees. Base compensation is fixed and normally reevaluated on an
annual basis. Pioneer seeks to set base compensation at market rates, taking
into account the experience and responsibilities of the portfolio manager. The
bonus plan is intended to provide a competitive level of annual bonus
compensation that is tied to the portfolio manager achieving superior investment
performance and align the interests of the investment professional with those of
shareholders, as well as with the financial performance of Pioneer. Any bonus
under the plan is completely discretionary, with a maximum annual bonus that may
be in excess of base salary. The annual bonus is based upon a combination of the
following factors:

o    Quantitative   Investment   Performance.    The   quantitative   investment
     performance  calculation is based on pre-tax investment  performance of all
     of the accounts  managed by the portfolio  manager (which includes the fund
     and any other  accounts  managed by the portfolio  manager) over a one-year
     period (20% weighting) and four-year period (80%  weighting),  measured for
     periods  ending on December 31. The accounts,  which include the fund,  are
     ranked against a group of mutual funds with similar  investment  objectives
     and  investment  focus  (60%) and a  broad-based  securities  market  index
     measuring  the  performance  of the same  type of  securities  in which the
     accounts  invest  (40%),  which,  in the case of the fund,  is the Barclays
     Capital Municipal Bond Index and the Barclays Capital High Income Municipal
     Bond Index.  As a result of these two  benchmarks,  the  performance of the
     portfolio  manager  for  compensation  purposes  is  measured  against  the
     criteria that are relevant to the portfolio manager's competitive universe.

o        Qualitative Performance. The qualitative performance component with
         respect to all of the accounts managed by the portfolio manager
         includes objectives, such as effectiveness in the areas of teamwork,
         leadership, communications and marketing, that are mutually established
         and evaluated by each portfolio manager and management.

o        Pioneer Results and Business Line Results. Pioneer's financial
         performance, as well as the investment performance of its investment
         management group, affect a portfolio manager's actual bonus by a
         leverage factor of plus or minus (+/-) a predetermined percentage.

The quantitative and qualitative performance components comprise 80% and 20%,
respectively, of the overall bonus calculation (on a pre-adjustment basis). A
portion of the annual bonus is deferred for a specified period and may be
invested in one or more Pioneer funds.

Certain portfolio managers may participate in other programs designed to reward
and retain key contributors. Senior executives or other key employees may be
granted performance units based on the stock price performance of UniCredit and
the financial performance of Pioneer Global Asset Management S.p.A., which are
affiliates of Pioneer. Portfolio managers also may participate in a deferred
compensation program, whereby deferred amounts are invested in one or more
Pioneer funds.


Share Ownership by Portfolio Manager. The following table indicates as of March
31, 2010 the value, within the indicated range, of shares beneficially owned by
the portfolio manager of the fund.

                                                     

--------------------------------------- -----------------------------------------------------------------
Name of Portfolio Manager               Beneficial Ownership of the Fund*
--------------------------------------- -----------------------------------------------------------------
--------------------------------------- -----------------------------------------------------------------
David Eurkus                            A
--------------------------------------- -----------------------------------------------------------------



*Key to Dollar Ranges

A. None
B. $1 - $10,000
C. $10,001 - $50,000
D. $50,001 - $100,000
E. $100,001 - $500,000
F. $500,001 - $1,000,000
G. Over $1,000,000



Item 9. Purchases of Equity Securities by Closed-End Management
Investment Company and Affiliated Purchasers.

(a) If the registrant is a closed-end management investment company,
in the following tabular format, provide the information specified in
paragraph (b) of this Item with respect to any purchase made by or on
behalf of the registrant or any affiliated purchaser, as defined in
Rule 10b-18(a)(3) under the Exchange Act (17 CFR 240.10b-18(a)(3)), of
shares or other units of any class of the registrants equity securities
that is registered by the registrant pursuant to Section 12 of the
Exchange Act (15 U.S.C. 781). Instruction to paragraph (a). Disclose
all purchases covered by this Item, including purchases that do not
satisfy the conditions of the safe harbor of Rule 10b-18 under the
Exchange Act (17 CFR 240.10b-18), made in the period covered by the
report. Provide disclosures covering repurchases made on a monthly basis.
For example, if the reporting period began on January 16 and ended on
July 15, the chart would show repurchases for the months from January 16
through February 15, February 16 through March 15, March 16 through
April 15, April 16 through May 15, May 16 through June 15, and June 16
through July 15.

During the period covered by this report, there were no purchases
made by or on behalf of the registrant or any affiliated purchaser
as defined in Rule 10b-18(a)(3) under the Securities Exchange Act
of 1934 (the Exchange Act), of shares of the registrants equity
securities that are registered by the registrant pursuant to
Section 12 of the Exchange Act.


Item 10. Submission of Matters to a Vote of Security Holders.

Describe any material changes to the procedures by which shareholders
may recommend nominees to the registrants board of directors, where
those changes were implemented after the registrant last provided
disclosure in response to the requirements of Item 7(d)(2)(ii)(G)
of Schedule 14A (17 CFR 240.14a-101), or this Item.


There have been no material changes to the procedures by which the
shareholders may recommend nominees to the registrants board of
directors since the registrant last provided disclosure in response
to the requirements of Item 7(d)(2)(ii)(G) of Schedule 14(A) in
its definitive proxy statement, or this Item.


ITEM 11. CONTROLS AND PROCEDURES.

(a) Disclose the conclusions of the registrant's principal executive officer or
officers and principal financial officer or officers, or persons performing
similar functions, about the effectiveness of the registrant's disclosure
controls and procedures (as defined in Rule 30a-2(c) under the Act (17 CFR
270.30a-2(c))) based on their evaluation of these controls and procedures as of
a date within 90 days of the filing date of the report that includes the
disclosure required by this paragraph.

The registrant's principal executive officer
and principal financial officer have
concluded that the registrant's disclosure
controls and procedures are effective based
on their evaluation of these controls and
procedures as of a date within 90 days of the
filing date of this report.


(b) Disclose whether or not there were significant changes in the registrant's
internal controls or in other factors that could significantly affect these
controls subsequent to the date of their evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.

There were no significant changes in the
registrant's internal control over financial
reporting that occurred during the second
fiscal quarter of the period covered by this
report that have materially affected, or are
reasonably likely to materially affect, the
registrant's internal control over financial
reporting.

The registrant's principal executive officer and principal financial
officer, however, voluntarily are reporting the following information:

In August of 2006 the registrant's investment adviser
enhanced its internal procedures for reporting performance
information required to be included in prospectuses.
Those enhancements involved additional internal controls
over the appropriateness of performance data
generated for this purpose.  Such enhancements were made
following an internal review which identified
prospectuses relating to certain classes of shares of
a limited number of registrants where, inadvertently,
performance information not reflecting the deduction of
applicable sales charges was included. Those prospectuses
were revised, and the revised prospectuses were distributed to
shareholders.


ITEM 12. EXHIBITS.

File the exhibits listed below as part of this Form. Letter or number the
exhibits in the sequence indicated.

(a) Any code of ethics, or amendment thereto, that is the subject of the
disclosure required by Item 2, to the extent that the registrant intends to
satisfy the Item 2 requirements through filing of an exhibit.



(b) A separate certification for each principal executive officer and principal
financial officer of the registrant as required by Rule 30a-2 under the Act
(17 CFR 270.30a-2).

Filed herewith.





                                   SIGNATURES

                          [See General Instruction F]


Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.


(Registrant) Pioneer Municipal High Income Advantage Trust


By (Signature and Title)* /s/ John F. Cogan, Jr.
John F. Cogan, Jr, President

Date May 28, 2010


Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.


By (Signature and Title)* /s/ John F. Cogan, Jr.
John F. Cogan, Jr., President

Date May 28, 2010


By (Signature and Title)* /s/ Mark Bradley
Mark Bradley, Treasurer

Date May 28, 2010

* Print the name and title of each signing officer under his or her signature.