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New Jersey Municipal Bond Fund

Overview

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Performance

Performance

  • Returns

  1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
1.51 3.26 4.43 5.25 5.10
-2.81 1.78 3.52 4.80 4.94
Benchmark (%) Index: S&P Municipal Bond Index.<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. 0.48 2.36 3.65 4.82 4.55
Morningstar Category Avg. (%) Muni New Jersey 1.35 2.62 3.51 4.35 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 12/51 10/47 7/46 5/40 -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 1 1 1 1 -
Lipper Category Avg. (%) NJ Muni Debt Funds 1.30 2.60 3.56 4.39 -
Lipper Ranking Rankings are based on total return excluding sales charges. 12/51 10/47 7/46 6/40 -
Lipper Quartile Rankings are based on total return excluding sales charges. 1 1 1 1 -
  YTD 1m 3m 1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
0.03 -0.62 -0.15 1.51 10.11 24.17 66.83 304.27
-4.22 -4.85 -4.39 -2.81 5.43 18.90 59.75 287.07
Benchmark (%) Index: S&P Municipal Bond Index.<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. -0.16 -0.58 -0.14 0.48 7.24 19.62 60.10 140.65
Morningstar Category Avg. (%) Muni New Jersey 0.78 -0.52 0.17 1.35 8.06 18.80 53.01 -
Lipper Category Avg. (%) NJ Muni Debt Funds 0.67 -0.54 0.12 1.30 8.04 19.18 53.92 -
  2013 2014 2015 2016 2017
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. -5.04 12.49 2.57 0.30 6.83
Annual w/ Sales Charge (%) Max Sales Charge: 4.25 -9.08 7.70 -1.80 -3.96 2.29
Benchmark (%) Index: S&P Municipal Bond Index<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. -2.55 9.25 3.32 0.77 4.95
Morningstar Category Avg. (%) Muni New Jersey -5.14 10.11 2.24 0.56 4.71
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. The performance information for periods prior to the inception date of the share class is based on the Fund’s Institutional Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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Distributions

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BlackRock Fixed Income Funds Delivered
19 of 25 U.S. bond funds, accounting for 97% of our assets, outperformed within their Morningstar peer groups*

22 of 25 U.S. bond funds, accounting for 88% of our fixed income funds, are priced in the least expensive quartile
See the numbers See the numbers

Key Facts

Key Facts

Size of Class (Millions) as of Dec 14, 2018 $72.5 M
Size of Fund (Millions) as of Dec 14, 2018 $284.1 M
Share Class launch date Oct 02, 2006
Asset Class Fixed Income
Morningstar Category Muni New Jersey
Lipper Classification NJ Muni Debt Funds
Benchmark Index S&P Municipal Bond Index
CUSIP 09253A706
Number of Holdings as of Oct 31, 2018 171
Max Offer Price as of Dec 14, 2018 $11.38
Open to New Investors Yes
Turnover Percent as of Nov 30, 2018 16%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Nov 30, 2018 94.64
Beta (3y) as of Nov 30, 2018 1.22
Average Coupon as of Oct 31, 2018 4.12%
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2016 3.60%
Worst 3-Month Return Over the Last 3 Years 3 months ending Nov 30, 2016 -6.07%
Fund Standard Deviation (3y) as of Nov 30, 2018 3.86

For the latest month-end Distribution Yield, click here.


This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Ratings

Ratings

Morningstar Rating

4
Overall Morningstar Rating for New Jersey Municipal Bond Fund, Class A, as of Nov 30, 2018 rated against 48 Muni New Jersey Funds.

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 Nov 30, 2018 out of 48, 5,798, 48, 242 and 48 Funds, respectively in Lipper's NJ Muni Debt Funds classification.

Holdings

Holdings

as of Oct 31, 2018
Name Weight (%)
GARDEN ST PRESERVATION TR NJ 0 11/01/2024 2.86
DRIVER 3.77 NJSMED 645790LQ7 2.46
TOB 4.97 UNNUTL 906363AB2 2.37
NEW JERSEY HEALTH CARE FACS FI 5 07/01/2037 2.32
NEW JERSEY HEALTH CARE FACS FI 5 07/01/2039 1.98
Name Weight (%)
NEW JERSEY INST TECHNOLOGY 5 07/01/2040 1.91
NEW JERSEY ST TPK AUTH TPK REV 5 01/01/2040 1.82
TOBACCO SETTLEMENT FING CORP N 5 06/01/2046 1.80
NEW JERSEY ST TRANSN TR FD AUTH 0 12/15/2032 1.77
NEW JERSEY HEALTH CARE FACS FI 5 07/01/2042 1.75

Exposure Breakdowns

Exposure Breakdowns

Type Fund Benchmark Net
Type Fund Benchmark Net
Type Fund Benchmark Net
Type Fund Benchmark Net
Type Fund Benchmark Net
Allocations subject to change.
Type Fund Benchmark Net
Type Fund Benchmark Net
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.

Notional value represents a fund’s use of derivatives, including but not limited to futures, options, and swaps. This value captures the fund exposures as if the derivative was replaced with the underlying asset and the corresponding financing or lending, such that all exposures sum to the net asset value. For non-derivatives, the market value and the notional value are identical.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Phillip Soccio
Phillip Soccio
Ted Jaeckel, CFA
Head Portfolio Manager, Municipal Mutual Fund

    

Portfolio Manager

Literature

Literature

 

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