Fixed Income

BATEX

Allocation Target Shares: Series E Fund

How To Buy
  • NAV as of May 10, 2024 $10.20
    52 WK: 9.11 - 10.20
  • 1 Day NAV Change as of May 10, 2024 0.00 (0.00%)
  • NAV Total Return as of May 10, 2024 YTD: 2.03%
  • Morningstar Rating

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Cum. Fund Perf. Since Inception: 57.72

Distributions

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Ex-Date Payable Date Record Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

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Year Total Distribution Income ST Cap Gains LT Cap Gains

Past distributions are not indicative of future distributions.
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  1y 3y 5y 10y Incept.
Total Return (%) 6.18 0.20 3.24 - 4.90
Benchmark (%) 7.91 0.55 3.03 - 4.48
Morningstar Category Avg. (%) - - - - -
Morningstar Ranking - - - - -
Morningstar Quartile 2 1 1 - -
Lipper Category Avg. (%) 3.97 -0.84 1.29 - -
Lipper Ranking 84/191 26/184 6/175 - -
Lipper Quartile 2 1 1 - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
Total Return (%) 1.03 0.77 1.03 6.18 0.61 17.26 - 58.72
Benchmark (%) 1.51 1.19 1.51 7.91 1.67 16.07 - 52.68
Morningstar Category Avg. (%) - - - - - - - -
Lipper Category Avg. (%) 0.21 0.13 0.21 3.97 -2.48 6.66 - -
  2019 2020 2021 2022 2023
Total Return (%) - - 9.28 -13.29 8.11
Benchmark (%) - - 7.77 -13.10 9.21
Morningstar Category Avg. (%) - - - - -

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

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.

Key Facts

Key Facts

Size of Class (Millions) as of May 10, 2024 $423.2 M
Size of Fund (Millions) $423.2 M
Share Class launch date Aug 03, 2014
Asset Class Fixed Income
Morningstar Category High Yield Muni
Lipper Classification Hi Yld Muni Debt Funds
Benchmark Index BBG Municipal High Yield Bond Index (Risk Basis: MUNI) (USD)
CUSIP 092480607
Distribution Frequency Monthly
Number of Holdings as of Mar 28, 2024 519
Max Offer Price as of May 10, 2024 $10.20
Open to New Investors Yes
Turnover Percent in the Annual Report as of Mar 31, 2023 37%

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

Where applicable, the Fund manager includes ESG considerations in combination with other information in the research and due diligence stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. This information may broadly inform investment decisions: ESG criteria are considered in combination with other information. The Fund manager conducts regular portfolio risk reviews between the investment team and BlackRock's Risk and Quantitative Analysis group. These reviews include discussion of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors, where appropriate.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.27%
Net Expense Ratio 0.12%

Net Expense Ratio excluding Investment Related Expenses is 0.00%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.11%

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for Allocation Target Shares: Series E Fund, Class, as of Mar 31, 2023 rated against 197 High Yield Muni Funds based on risk adjusted total return.

Lipper Leader

 
 
 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Apr 30, 2024 out of 183, 6,134, 183, 89 and 183 Funds, respectively in Lipper's Hi Yld Muni Debt Funds classification.

Holdings

Holdings

Name Weight (%) Shares Market Value Coupon (%) Maturity
Detailed Holdings and Analytics
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Portfolio Managers

Portfolio Managers

Phillip Soccio, CFA
Phillip Soccio, CFA
Director, Portfolio Manager, Municipal Mutual Funds

  

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Phillip Soccio, CFA, Director, is a Portfolio Manager for the Municipal Fixed Income business in BlackRock's Portfolio Management Group. Prior to assuming his current role in 2007, Mr. Soccio was a member of BlackRock's Cash Management Group, where he was responsible for managing various tax-exempt money market funds. From 1998 to 2000, he was a member of BlackRock's Account Management Group responsible for institutional client service and marketing support. Mr. Soccio began his career at BlackRock in 1998.

Mr. Soccio earned a BS degree in finance from Wilmington University.

Ryan McDonald, CFA
Ryan McDonald, CFA
Managing Director, Municipal Fixed Income

    

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Ryan McDonald, CFA, Managing Director, is a member of Municipal Fixed Income business in BlackRock's Portfolio Management Group. Mr. McDonald is a Credit Research analyst, covering various sectors in municipal high yield with a particular focus on distressed securities and special situations in the municipal market.

 

Prior to joining BlackRock in 2014, Mr. McDonald was a vice president at Moelis & Co. where his responsibilities included the analysis of distressed municipal bonds and derivative products. His work also encompassed the analysis of monoline insurers and their various municipal/structured finance exposures. Prior to Moelis & Co., Mr. McDonald was a financial analyst at MAEVA Group, LLC, where he was responsible for analyzing state & local municipal pension plans and making restructuring recommendations. Prior to MAEVA, Mr. McDonald spent 8 years at JPMorgan where he worked in both the Public Finance and Structured Credit departments.

 

Mr. McDonald earned a BA degree in finance from the University of Notre Dame in 2004.

Walter O'Connor, CFA
Walter O'Connor, CFA
Managing Director, Co-Head and Portfolio Manager, Municipal Mutual Funds

  

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Walter O'Connor, CFA, Managing Director and Co-Head of the Municipal Funds team within the Municipal Fixed Income business in BlackRock's Portfolio Management Group. He is also a member of the Municipal Management Committee, which oversees all municipal bond portfolio management, research and trading activities.

 

Mr. O'Connor's service with the firm dates back to 1991, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, he was a portfolio manager for municipal bond retail mutual funds. Prior to joining MLIM, Mr. O'Connor was with Prudential Securities, where he was involved in trading, underwriting, and arbitrage for municipal securities and financial futures.

 

Mr. O'Connor earned a BA degree in finance and philosophy from the University of Notre Dame in 1984.

Kevin Maloney, CFA
Kevin Maloney, CFA
Director, Co-Head and Portfolio Manager, Municipal Mutual Funds

  

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Kevin Maloney, CFA, Director and Co-Head of the Municipal Funds team, is a Portfolio Manager within the Municipal Fixed Income business in BlackRock's Portfolio Management Group. He is also a member of the Municipal Management Committee, which oversees all municipal bond portfolio management, research, and trading activities.

 

Mr. Maloney began his career at BlackRock in 2011 as a research analyst on the Municipal Credit Research Team.

 

He graduated from Drexel University in 2011 with a BS degree in Finance.

Portfolio Manager

Literature

Literature

 

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