BlackRock Fixed Income SMAs

BlackRock’s suite of fixed income separately managed accounts (SMAs) helps advisors build personalized, tax-managed bond portfolios seeking to meet the needs of their clients.
Are you a Financial Advisor? Contact an SMA specialist to learn more. Contact an SMA specialist to learn more.

Explore BlackRock fixed income SMA solutions

Municipal fixed income Taxable fixed income
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The table below shows portfolio characteristics for our sample portfolios. For actual strategy performance and characteristics, view the strategy fact sheet or GIPS Composite Report.

Strategy Avg. yield to worst-Gross (%) Avg. tax-equivalent yield to worst-Gross (%) Avg. coupon (%) Avg. effective duration (yrs) Fact Sheet Sample Portfolio GIPS Composite Report
Short-term Municipal 2.36 3.99 5.00 2.83 Fact Sheet Sample Portfolio GIPS Composite Report
Intermediate Municipal 2.62 4.42 5.00 4.92 Fact Sheet Sample Portfolio GIPS Composite Report
Long-Term Municipal 3.39 5.72 4.93 8.12 Fact Sheet Sample Portfolio GIPS Composite Report
Municipal Opportunities† 3.68 5.97 4.92 6.09 Fact Sheet Sample Portfolio GIPS Composite Report
Municipal Ladder 1-5 Year 2.22 3.74 5.00 2.30 Fact Sheet Sample Portfolio GIPS Composite Report
Municipal Ladder 1-10 Year 2.54 4.29 5.00 4.11 Fact Sheet Sample Portfolio GIPS Composite Report
Municipal Ladder 5-15 Year 2.79 4.72 5.00 6.58 Fact Sheet Sample Portfolio GIPS Composite Report
Municipal Ladder 10-20 Year 3.29 5.57 5.00 8.62 Fact Sheet Sample Portfolio GIPS Composite Report

For illustrative purposes only. Portfolio characteristic data, including the yields shown above, do not reflect results of actual BlackRock accounts or strategies. The portfolio characteristics data shown is that of the respective hypothetical sample portfolio. Actual results may differ. The sample portfolios illustrate a hypothetical portfolio for the investment strategy identified above to illustrate the types of investments that may be purchased for a client selecting such investment strategy. The hypothetical portfolio is based on the current market environment and is not the result of actual trading. The holdings identified do not represent all of the securities purchased, sold or recommended for any particular advisory client and in the aggregate may represent only a small percentage of an actual client's portfolio holdings. The holdings do not constitute a recommendation or solicitation to buy or sell any particular security and you should not assume that an investment in any of the securities was or will be profitable. Actual client portfolios will differ for a variety of reasons including, but not limited to, account size, the timing of client investments, differences in in market conditions and in the number, types, availability and diversity of securities that can be purchased, liquidity considerations and client objectives and guidelines. This information is shown for illustrative purposes and is subject to change. The yields of the sample portfolios are shown gross of fees and do not reflect the deduction of all applicable fees and expenses. Refer to the total portfolio’s gross and net performance shown in the respective GIPS Reports for the overall effect of fees. The portfolio characteristics shown are the data points most requested by Financial Advisor clients. Please click on the sample portfolio link for more information. Data as of February 2, 2026.

† BlackRock Allocation Target Shares (BATS) mutual funds available for use within BlackRock Separately Managed Account Strategies.

The table below shows portfolio characteristics for our sample portfolios. For actual strategy performance and characteristics, view the strategy fact sheet or GIPS Composite Report.

Strategy Avg. yield to worst-Gross (%) Avg. coupon (%) Avg. effective duration (yrs) Fact Sheet Sample Portfolio GIPS Composite Report
Short-Term Taxable 3.71 4.27 1.90 Fact Sheet Sample Portfolio GIPS Composite Report
Intermediate Taxable 4.14 3.97 4.24 Fact Sheet Sample Portfolio GIPS Composite Report
Fundamental Core Taxable 4.41 3.92 5.89 Fact Sheet Sample Portfolio GIPS Composite Report
Short Duration† 3.86 3.86 1.81 Fact Sheet Sample Portfolio GIPS Composite Report
Core Bond† 4.32 3.79 5.85 Fact Sheet Sample Portfolio GIPS Composite Report
Government/Corporate Taxable 4.26 4.03 6.06 Fact Sheet Sample Portfolio GIPS Composite Report
Corporate Ladder 1-5 year 4.07 4.34 2.29 Fact Sheet Sample Portfolio GIPS Composite Report
Corporate Ladder 1-10 year 4.37 4.30 4.11 Fact Sheet Sample Portfolio GIPS Composite Report

For illustrative purposes only. Portfolio characteristic data, including the yields shown above, do not reflect results of actual BlackRock accounts or strategies. The portfolio characteristics data shown is that of the respective hypothetical sample portfolio. Actual results may differ. The sample portfolios illustrate a hypothetical portfolio for the investment strategy identified above to illustrate the types of investments that may be purchased for a client selecting such investment strategy. The hypothetical portfolio is based on the current market environment and is not the result of actual trading. The holdings identified do not represent all of the securities purchased, sold or recommended for any particular advisory client and in the aggregate may represent only a small percentage of an actual client's portfolio holdings. The holdings do not constitute a recommendation or solicitation to buy or sell any particular security and you should not assume that an investment in any of the securities was or will be profitable. Actual client portfolios will differ for a variety of reasons including, but not limited to, account size, the timing of client investments, differences in in market conditions and in the number, types, availability and diversity of securities that can be purchased, liquidity considerations and client objectives and guidelines. This information is shown for illustrative purposes and is subject to change. The yields of the sample portfolios are shown gross of fees and do not reflect the deduction of all applicable fees and expenses. Refer to the total portfolio’s gross and net performance shown in the respective GIPS Reports for the overall effect of fees. The portfolio characteristics shown are the data points most requested by Financial Advisor clients. Please click on the sample portfolio link for more information. Data as of February 2, 2026.

† BlackRock Allocation Target Shares (BATS) mutual funds available for use within BlackRock Separately Managed Account Strategies.

Our comprehensive platform

As one of the world’s largest fixed income managers1 lean on BlackRock’s size and scale to deliver better client outcomes.

Increase20
Years of industry experience
$70
Billion in assets under management
Increase44,000
Muni and taxable accounts serviced

BlackRock as of 12/31/2025

The BlackRock fixed income SMA difference

BlackRock's fixed income SMA platform is built to help advisors deliver personalized bond portfolios at scale through institutional execution, integrated technology and dedicated portfolio management teams.
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Execution at scale

BlackRock's significant market presence provides advantageous pricing at point of sale versus the market, which can translate into meaningful cost savings for clients.
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Proprietary technology

Aladdin technology empowers our portfolio management processes, seamlessly coordinating risk management, credit research and trading to deliver stronger risk-adjusted returns.
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White glove service

Dedicated teams partner with advisors to deliver customized solutions and support during the client journey, from in-kind transitions and implementation to portfolio reviews.

A municipal SMA platform built for today’s market

Scale drives opportunity

BlackRock’s institutional scale provides advantageous municipal bond pricing at point of sale versus the market, potentially reducing costs for your clients.
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Disciplined portfolio implementation

BlackRock takes a disciplined approach to building municipal bond portfolios, prioritizing high-quality security selection while remaining flexible to navigate changing marketing conditions seeking to deliver long-term outperformance.
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Connect with an SMA specialist

If you are a financial advisor, you can sign in to schedule a meeting with one of our SMA specialists. They can review available SMA strategies, portfolio customization capabilities, and generate client-friendly sample portfolios.
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FAQ's

  • Not all bonds are created equal. Some of the key differences between municipal and taxable bonds include the issuer and type of projects that will be funded, risk profile, yields and tax implications. It is important to consider the potential benefits and risks of each when deciding the best option for your specific situation.

  • Fixed income SMAs allow clients to access municipal and taxable bonds through a streamlined, managed account structure. Portfolios can be constructed with core objectives such as capital preservation, risk management, and income generation while maintaining flexibility to adapt to client-specific needs.

  • Institutional-scale execution can provide access to broader inventory, improved pricing, and more consistent implementation across client portfolios. This scale helps advisors efficiently manage fixed income allocations while navigating liquidity and changing market conditions.

  • Fixed income SMAs may be well suited for high-net-worth investors with more complex tax, income and risk management needs. They can also be useful for clients seeking enhanced customization, transparency and tax management.