BlackRock municipal bond solutions

Municipal bonds may be able to offer tax-free income, low default rates, and equity diversification when stocks sell off. Explore BlackRock’s suite of municipal solutions to help clients earn tax-exempt income and preserve wealth.

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What sets our municipal platform apart:

Number one

Cutting edge technology

Aladdin risk management technology and credit research tools empower our experienced team to manage risk and identify opportunities.
Case study: Real-time risk monitoring Case study: Real-time risk monitoring
number two

Institutional access

With $180B1 in municipal AUM, you can lean on BlackRock’s size and scale to deliver greater access to inventory and tighter trading spreads.
Case study: Opportunity in distressed debt Case study: Opportunity in distressed debt
number three

Comprehensive suite of solutions

From index and active ETFs, to interval funds, to personalized SMAs, our platform is designed to meet the needs of all client types.

HIMU: Seek federal tax-exempt income with high yield bonds

The iShares High Yield Muni Active ETF* is managed by the municipal team’s deep credit research capabilities and experienced portfolio managers to navigate the fragmented high yield muni market.
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Compelling tax-exempt yields

Seek high income through a controlled, credit intensive approach to municipal fixed income.
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Consistent returns

The fund seeks to deliver outperformance compared to its peers, leveraging BlackRock’s scale and restructuring expertise to access issuers.
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Exposure across the credit spectrum

Allocate investments across a diverse range of credit ratings, adjusting exposures in response to evolving market conditions.
SOLUTIONS

Municipal solutions for every client objective

Explore our full suite of municipal solutions to help your clients reach their goals.

Amplify income Step out of cash Seek alpha State-specific Low-cost index
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Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of dividends and capital gains. Current performance may be lower or higher than that shown. For most recent month-end performance and standardized performance, click on the fund names above.

Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of dividends and capital gains. Current performance may be lower or higher than that shown. For most recent month-end performance and standardized performance, click on the fund names above.

The iShares Short Maturity Municipal Bond Active ETF (MEAR) is not a money market fund and is not subject to the strict rules that govern the quality, maturity, liquidity and other features of securities that money market funds may purchase. Under normal circumstances, the Fund's investments may be more susceptible than a money market fund is to credit risk, interest rate risk, valuation risk and other risks relevant to the Fund's investments. The Fund does not seek to maintain a stable net asset value of $1.00 per share. The Fund will hold securities with floating or variable interest rates which may decline in value if their coupon rates do not reset as high, or as quickly, as comparable market interest rates. Although floating rate notes are less sensitive to interest rate risk than fixed rate securities, they are subject to credit and default risk, which could impair their value.

Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of dividends and capital gains. Current performance may be lower or higher than that shown. For most recent month-end performance and standardized performance, click on the fund names above.

Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of dividends and capital gains. Current performance may be lower or higher than that shown. For most recent month-end performance and standardized performance, click on the fund names above.

Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of dividends and capital gains. Current performance may be lower or higher than that shown. For most recent month-end performance and standardized performance, click on the fund names above.

BlackRock’s Municipal Fixed Income SMAs

BlackRock’s Muni SMA platform can help you scale your muni investments while deliver personalized, tax efficient bond solutions to meet the needs of your HNW clients. Our platform offers:
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Market exposure: set the foundation

We offer a wide range of muni SMAs across active and ladders.
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Portfolio customization: pull the right levers

We customize portfolios to align investments with client needs.
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Tax management: keep more of what you earn

We seek to minimize tax impact starting with initial account funding and continuing on an ongoing basis.
9
FI SMA portfolio managers serving clients locally2
$45
billion in muni SMA assets3
Explore our Fixed Income SMA suite Explore our Fixed Income SMA suite

Schedule a meeting with a specialist

Our specialist team can review available municipal strategies and how they can fit in your clients’ portfolios.

Schedule a meeting Schedule a meeting

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BlackRock's strength is the platform. It's the collection of investors and research people and technologies that make us who we are.

00:00:14:04 - 00:00:38:01

By collaborating with people across different asset classes and different investment disciplines. That puts us in a position to create the best tools and processes to outperform markets over time. Funding of infrastructure in the United States is predominantly done through municipal bond market, and that's worked well over time. However, there is now clearly larger capital needs in our country where we're going to need to bring in private pools of capital.

00:00:38:02 - 00:00:54:15

Everyone at BlackRock benefits from economies of scale. We have constant communication with our partners in other asset classes, with our partners in technology, with our partners in research to make sure that best practices in all markets are shared, and that we make sure that the cream rises to the top.

Important Information

Investing involves risk, including possible loss of principal.

Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in the value of debt securities. Credit risk refers to the possibility that the debt issuer will not be able to make principal and interest payments.

There may be less information on the financial condition of municipal issuers than for public corporations. The market for municipal bonds may be less liquid than for taxable bonds. Some investors may be subject to federal or state income taxes or the Alternative Minimum Tax (AMT). Capital gains distributions, if any, are taxable.

This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Similarly, the material does not constitute, and should not be relied on as, legal, regulatory, accounting, tax, investment, trading or other advice. Any financial, tax, or legal information contained herein is included for informational purposes only.

This material represents an assessment of the market environment as of the date indicated; is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any issuer or security in particular.

©2025 BlackRock, Inc. or its affiliates. All Rights Reserved. BLACKROCK is a trademark of BlackRock, Inc., or its affiliates. All other trademarks are those of their respective owners.

A modern municipal bond platform

Navigating the fragmented municipal bond market and evolving market environments can be challenging for even the most experienced investors. Hear from Pat Haskell, the Head of the BlackRock Municipal Bond Group, on BlackRock’s municipal bond platform—from deep research capabilities to cutting edge technology.

60
+ municipal investment professionals4
$180
billion in municipal assets1

A framework to help build your clients’ municipal portfolios

The complex and fragmented nature of the municipal bond market can make it difficult to consistently build and rebalance client portfolios.

With our Municipal Portfolio Framework and proprietary 360 Evaluator tool, you can see how we’re building municipal bond portfolios for today’s market and tailor allocations to meet your clients’ needs.

BlackRock Municipal Portfolio Framework BlackRock Municipal Portfolio Framework
CASE STUDIES

Putting our technology to work amid the L.A. wildfires

Damage from L.A. wildfires was swift and far from uniform. Our relative value approach and deep understanding of the holdings helped us effectively manage our clients’ municipal portfolios.

California wildfire monitor
Pre-event

Assess prices of new issues

The team overlayed the wildfire threat zone across both low- and high-risk areas of the Santa Monica-Malibu Unified School district, which issues debt separately by region, to evaluate whether wildfire risk was accurately reflected in pricing.

California wildfire monitor
During-event

Manage outsized risks

The team proactively reduced exposure to L.A. Department of Water and Power bonds while market demand remained strong, having identified elevated risk through a combination of intellectual expertise and technology.

California wildfire monitor
Post-event

Identify opportunities

Leveraging proprietary research tools and dedicated sector specialists, the team added exposure to the L.A. Unified School District bonds at attractive levels, as spreads widened even though only 5 of more than 1,200 schools were affected by the fires.

Laying a path to recovery in Puerto Rico

BlackRock played a leading role in restructuring Puerto Rico’s General Obligation bonds (GO). This opportunity emerged from the default on Puerto Rico’s GO bonds, which triggered the largest and most complex municipal bankruptcy in U.S. history.
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44% Discount on bonds

Our debt restructuring experience, political insight, and legal resources enabled us to play a critical role in the restructuring and receive favorable pricing.5
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The result

With the bonds trading well below par, our investment in Puerto Rico GO bonds resulted in an outsized return for our clients.

Featured insights

  • Fixed Income

    Maximizing Tax Savings with Muni Bonds

    Dec 04, 2025|ByDaniel Prince, CFA

    Price losses in muni bond funds present opportunities for greater tax efficiency as advisors navigate elevated yields and inflation.

  • Fixed Income

    California: a state like no other

    Nov 25, 2025|ByPatrick Haskell

    Value has been restored in California’s municipal market providing tax-exempt benefits particularly for residents of the state.

  • Fixed Income

    Fixed Income Outlook

    Oct 23, 2025|ByJeffrey Rosenberg, CFAMichael Gates, CFAPatrick HaskellRick RiederTom Parker

    Stay ahead with the quarterly fixed income outlook. Understand how interest rates, geopolitics, and changing policies are driving the bond market today.