<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001596468</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000809844</issuerCik>
        <issuerName>MFS HIGH YIELD MUNICIPAL TRUST</issuerName>
        <issuerCusip>59318E102</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>111 HUNTINGTON AVENUE</com:street1>
          <com:street2>24TH FLOOR</com:street2>
          <com:city>BOSTON</com:city>
          <com:stateOrCountry>MA</com:stateOrCountry>
          <com:zipCode>02199</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Almitas Capital LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>1507168.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1507168.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1507168.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>5.9</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>MFS HIGH YIELD MUNICIPAL TRUST</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>111 HUNTINGTON AVENUE, 24TH FLOOR, BOSTON, MASSACHUSETTS, 02199</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Almitas Capital LLC</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>1460 4th Street, Suite 300 Santa Monica, CA 90401</principalBusinessOfficeOrResidenceAddress>
        <citizenship>See Item 4 of the cover page.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>See Item 9 of the cover page.</amountBeneficiallyOwned>
        <classPercent>See Item 11 of the cover page.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See Item 5 of the cover page.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See Item 6 of the cover page.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See Item 7 of the cover page.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See Item 8 of the cover page.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
        <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Investment Advisor is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Almitas Capital LLC</reportingPersonName>
      <signatureDetails>
        <signature>Ronald Mass</signature>
        <title>Managing Principal</title>
        <date>11/14/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
