PERFORMANCE


Source: Lipper. Data reflects different methodology from the BlackRock calculated returns in the Returns tab. The $10,000 Hypothetical Over Time chart reflects a hypothetical $10,000 investment in the investor class of shares noted and does not assume the max sales charge. Had sales charge been included, returns would have been lower. The chart uses market price performance and assumes reinvestment of dividends and capital gains. Fund expenses, including 12b-1 fees, management fees and other expenses were deducted. Performance for other share classes will vary.




The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.
as of
  1y 3y 5y 10y Incept.  
16.85 12.07 - - 12.76
Market Price Total Return (%)   20.79 13.37 - - 9.56
as of
  YTD 1m 1y 3y 5y 10y Incept.  
16.21 0.92 16.85 40.74 - - 60.24
Market Price Total Return (%)   16.57 -0.36 20.79 45.70 - - 43.09
Lipper Ranking   6/23
as of
  2009 2010 2011 2012 2013
Total Return (%)   - - 32.30 13.61 -5.13
Market Price Total Return (%)   - - 32.64 14.78 -9.47


The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Interactive chart displaying fund performance. Javascript is required.

Ex-Date Payable Date Record Date Total Distribution Return of Capital
Aug 13, 2014 Aug 29, 2014 Aug 15, 2014 $0.131800 -
Jul 11, 2014 Jul 31, 2014 Jul 15, 2014 $0.131800 -
Jun 12, 2014 Jun 30, 2014 Jun 16, 2014 $0.131800 -
May 13, 2014 May 30, 2014 May 15, 2014 $0.131800 -
Apr 11, 2014 Apr 30, 2014 Apr 15, 2014 $0.131800 -
Mar 12, 2014 Mar 12, 2014 Mar 12, 2014 $0.131800 -
Feb 12, 2014 Feb 28, 2014 Feb 14, 2014 $0.131800 -
Dec 27, 2013 Jan 8, 2014 Dec 31, 2013 $0.131800 -
Dec 11, 2013 Dec 19, 2013 Dec 13, 2013 $0.131800 -
Nov 13, 2013 Nov 29, 2013 Nov 15, 2013 $0.131800 -
Oct 11, 2013 Oct 31, 2013 Oct 16, 2013 $0.131800 -
Sep 12, 2013 Sep 30, 2013 Sep 16, 2013 $0.131800 -
Aug 13, 2013 Aug 30, 2013 Aug 15, 2013 $0.131800 -
Jul 11, 2013 Jul 31, 2013 Jul 15, 2013 $0.131800 -
Jun 12, 2013 Jun 28, 2013 Jun 14, 2013 $0.131800 -
May 13, 2013 May 31, 2013 May 15, 2013 $0.131800 -
Apr 11, 2013 Apr 30, 2013 Apr 15, 2013 $0.131800 -
Mar 13, 2013 Mar 28, 2013 Mar 15, 2013 $0.131800 -
Feb 13, 2013 Feb 28, 2013 Feb 15, 2013 $0.131800 -

Interactive chart displaying fund performance. Javascript is required.

Year Total Distribution
2013 1.58

Past distributions are not indicative of future distributions.



The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

Holdings

as of 31-Jul-2014

Name Weight (%)
NEW JERSEY ST TPK AUTH TPK REV 7.102 01/01/2041 2.48
NEW JERSEY ST TRANSN TR FD AUTH 6.104 12/15/2028 2.48
MET GOVT NASHVILLE & DAVIDSON 7.431 07/01/2043 2.39
CHICAGO IL WASTEWATER TRANSMISSION 6.9 01/01/2040 2.32
LOS ANGELES CALIF WTR PWR REV 6.166 07/01/2040 2.16
MUNICIPAL ELEC AUTH GA 6.637 04/01/2057 2.10
SAN ANTONIO TEX ELEC & GAS REV 6.308 02/01/2037 2.10
ILLINOIS ST 7.35 07/01/2035 2.07
FRANKLIN CNTY OHIO CONVENTION FACS 6.64 12/01/2042 1.98
SAN DIEGO CNTY CALIF REGL ARPT AUT 6.628 07/01/2040 1.84
The Fund is actively managed and its composition will vary. Holdings shown are for illustrative purposes only and should not be deemed as a recommendation to buy or sell the securities listed. Fund details, holdings and characteristics are as of the date noted and subject to change.

Exposure Breakdowns

as of 31-Jul-2014

% of Market Value  

California

22.4%

Illinois

14.6%

New York

10.6%

New Jersey

10.1%

Texas

6.7%

Ohio

4.1%

Georgia

4.0%

Tennessee

2.6%

Colorado

2.5%

Utah

2.2%

as of 31-Jul-2014

% of Market Value  

United States

100.1%

Cash and Derivatives

-0.1%

as of 31-Jul-2014

% of Market Value  

North America

100.1%

Cash and Derivatives

-0.1%

Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of 31-Jul-2014

% of Market Value  

Utility

30.4%

Local Tax-Backed

22.8%

State Tax-Backed

16.5%

Transport

14.2%

Education

6.6%

School Districts

6.0%

Housing

1.8%

Tobacco

0.9%

Corporate Muni

0.5%

Health

0.3%

as of 31-Jul-2014

% of Market Value  

Cash and Derivatives

-0.1%

12 - 15 Years

5.4%

15 - 20 Years

3.0%

20 - 25 Years

20.4%

25+ Years

71.3%

as of 31-Jul-2014

% of Market Value  

Cash and Derivatives

-0.1%

AAA Rated

2.7%

AA Rated

42.6%

A Rated

50.3%

BBB Rated

3.7%

B Rated

0.8%

The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

as of 31-Jul-2014

% of Market Value  

Fixed Income

100.1%

Cash and Derivatives

-0.1%

Allocations subject to change.
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.

Ratings

  • Morningstar Rating
     
  • Overall   :
  • 4
  • Overall Morningstar Rating for BlackRock Build America Bond Trust as of 31-Jul-2014 rated against 5 Long-Term Bond Funds.

KEY FACTS

Size of Fund (Millions)

as of 26-Aug-2014

$1,329.9 M
Managed Assets  

as of 26-Aug-2014

$1,960.4 M
Inception Date Aug 27, 2010
Exchange New York Stock Exchange Inc.
Asset Class Fixed Income
Morningstar Category Long-Term Bond
Lipper Classification General Bond Funds
CUSIP 09248X100

Total Expense Ratio 1.10%
Management Fee 0.80%

Shares Outstanding

as of 26-Aug-2014

57,103,349
Number of Holdings

as of 31-Jul-2014

119
Premium/Discount  

as of 26-Aug-2014

-7.04%
3m Avg Volume

as of 31-Jul-2014

283,070

PORTFOLIO CHARACTERISTICS

Current Yield  

as of 31-Jul-2014

7.36%

Average Coupon

as of 31-Jul-2014

10.27%
WAL to Maturity

as of 31-Jul-2014

33.50 yrs
Effective Duration  

as of 31-Jul-2014

12.80 yrs
Yield to Maturity  

as of 31-Jul-2014

6.83%
Yield to Worst  

as of 31-Jul-2014

6.15%
Leverage  

as of 30-Jun-2014

615.00M
% Leveraged  

as of 30-Jun-2014

31.99
Type of Options   Single Stock

This information must be preceded or accompanied by a current prospectus. For standardized performance, please click on the "Returns" tab above.

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses. Read the prospectus carefully before investing.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. Compared to more established economies, the value of investments in developing Emerging Markets may be subject to greater volatility due to differences in generally accepted accounting principles or from economic or political instability. The fund may invest in smaller company shares which can be more unpredictable and less liquid than those of larger company shares.

Performance results reflect past performance and are no guarantee of future results. Current performance may be lower or higher than the performance data quoted. All returns assume reinvestment of all dividends. The market value and net asset value (NAV) of a fund's shares will fluctuate with market conditions. Closed-end funds may trade at a premium to NAV but often trade at a discount.

Investment return, price, yields and NAV will fluctuate with changes in market conditions. At the time of sale, your shares may have a market price that is above or below net asset value, and may be worth more or less than your original investment. There is no assurance that a fund will meet its investment objective.

Some funds may utilize leveraging to seek to enhance the yield and net asset value of its common stock, through bank borrowings, issuance of short-term debt securities or shares of preferred stock, or a combination thereof. However, these objectives cannot be achieved in all interest rate environments. While leverage may result in a higher yield for the fund, the use of leverage involves risk, including the potential for higher volatility of the NAV, fluctuations of dividends and other distributions paid by the fund and the market price of the fund's common stock, among others. Certain funds may invest assets in securities of issuers domiciled outside the United States, including issuers from emerging markets. Foreign investing involves special risks, including foreign currency risk and the possibility of substantial volatility due to adverse political, economic or other developments.

Yields are based on income earned for the period cited and on the Fund's NAV at the end of the period.

Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Those distributions temporarily cause extraordinarily high yields. There is no assurance that a fund will repeat that yield in the future. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower.

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Lipper rankings are based on total return using market prices.

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