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Fixed Income

BKK

Municipal 2020 Term Trust

Overview

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Performance

Performance

  • Returns

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, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.


Returns are shown net of advisory fees paid by the fund and net of the fund’s operating fees and expenses. Investors who purchase shares of the fund through an investment adviser or other financial professional may separately pay a fee to that service provider. Past performance is not indicative of future results.

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 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 found in the Performance section.

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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Key Facts

Key Facts

Net Assets as of Oct 15, 2019 $305,356,041
Managed Assets as of Oct 15, 2019 $305,356,041.17
Share Class launch date Sep 30, 2003
Exchange New York Stock Exchange Inc.
Asset Class Fixed Income
Morningstar Category Muni National Interm
Lipper Classification Intmdt Muni Debt Funds
CUSIP 09249X109
Management Fee 0.51%
Gross Expense Ratio 0.62%
Shares Outstanding as of Oct 15, 2019 20,236,628
Number of Holdings as of Sep 30, 2019 139

Portfolio Characteristics

Portfolio Characteristics

Average Coupon as of Sep 30, 2019 3.71%
WAL to Maturity as of Sep 30, 2019 0.84 yrs

Ratings

Holdings

Holdings

as of Sep 30, 2019
Name Weight (%)
METROPOLITAN PIER & EXPOSITION AUT 0 06/15/2022 5.17
CA ST DEPT WTR (CAL DWR) 5 05/01/2020 4.26
RAILSPLITTER TOB SETTLEMENT AUTH I 5.25 06/01/2020 4.26
TEXAS ST TPK AUTH CENT TEX TPK 0 08/15/2021 3.17
GAINESVILLE & HALL CNTY GA DEV 5 11/15/2022 2.78
Name Weight (%)
TEXAS MUN GAS ACQUISITION & SU 5 12/15/2020 2.15
LOWER COLO RIV AUTH TEX TRANSMISSI 5 05/15/2020 2.13
HOUSTON TEX ARPT SYS REV 4.5 07/01/2020 2.11
NORTH CAROLINA MUN PWR AGY NO 1 CA 5 01/01/2020 2.09
WASHINGTON ST HEALTH CARE FACS 5 10/01/2042 1.79

Exposure Breakdowns

Exposure Breakdowns

Type Fund
Type Fund
Type Fund
Type Fund
Type Fund
Type Fund
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 Sep 30, 2019
Type Fund
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