Municipal Bonds: now more than ever

Municipal bonds: now more than ever

Municipal bonds strive to deliver tax-free income in a high tax world. With COVID-19 related government spending driving record deficits, investors could be facing higher taxes from here on out.

BlackRock’s municipal advantage

As the world’s largest municipal bond manager, BlackRock’s size and scale can mean greater access to inventory and tighter trading spreads.1

An award-winning team
In the fragmented municipal bond market, you need experts to comb through thousands of issuers to identify opportunities and manage risk. BlackRock’s 56 municipal investment professionals2 are led by a team of experts that have worked together for over 20 years.
An award-winning team
Technology that sees opportunities & risks
Our experts leverage Aladdin, BlackRock’s risk management technology, to identify risks and drivers of performance in the market. By digging deeper, Aladdin empowers our experts to manage risk and seek the right opportunities.
Technology that sees opportunities & risks

A track record of strong performance

Performance data quoted represents past performance and does not guarantee future results.

Morningstar as of 3/31/21. Rankings for all funds are for the Institutional share class. Performance for other share classes may vary. Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. The following funds are ranked as follows: Strategic Municipal Opportunities Fund: 1- year 44/289; 5-year 44/224; 10-year 10/146. California Municipal Opportunities Fund: 1- year 7/68; 5-year 21/58; 10-year 13/50. New York Municipal Opportunities Fund: 1- year 2/54; 5-year 2/47; 10-year 1/42. National Municipal Fund: 1- year 4/289; 5-year 2/224; 10-year 3/164. High Yield Municipal Fund: 1- year 11/196; 5-year 11/152; 10-year 5/100. Pennsylvania Municipal Bond Fund: 1- year 4/53; 5-year 29/46; 10-year 17/43. New Jersey Municipal Bond Fund: 1- year 8/50; 5-year 19/43; 10-year 7/39. Ratings based on risk-adjusted total return, determined monthly and subject to change. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics.

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life sub-accounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Strategic Municipal Opportunities Fund (Inst. shares) received a Morningstar Rating of 2 stars for the 3-year period, 4 stars for the 5-year period and 4 stars for the 10-year period, rated against 249, 224 and 164 Muni National Interm Funds, respectively. California Municipal Opportunities Fund (Inst. shares) received a Morningstar Rating of 3 stars for the 3-year period, 5 stars for the 5-year period and 5 stars for the 10-year period, rated against 64, 58 and 50 Muni California Interm Funds, respectively. New York Municipal Opportunities Fund (Inst. shares) received a Morningstar Rating of 3 stars for the 3-year period, 5 stars for the 5-year period and 5 stars for the 10-year period, rated against 50, 47 and 42 Muni New York Interm Funds, respectively. National Municipal Fund (Inst. shares) received a Morningstar Rating of 5 stars for the 3-year period, 4 stars for the 5-year period and 5 stars for the 10-year period, rated against 249, 224 and 164 Muni National Interm Funds, respectively. High Yield Municipal Fund (Inst. shares) received a Morningstar Rating of 4 stars for the 3-year period, 4 stars for the 5-year period and 4 stars for the 10-year period, rated against 179, 152 and 100 High Yield Municipal Funds, respectively. Pennsylvania Municipal Bond Fund (Inst. shares) received a Morningstar Rating of 4 stars for the 3-year period, 4 stars for the 5-year period and 5 stars for the 10-year period, rated against 50, 46 and 43 Pennsylvania Municipal Funds, respectively. New Jersey Municipal Bond Fund (Inst. shares) received a Morningstar Rating of 3 stars for the 3-year period, 5 stars for the 5-year period and 5 stars for the 10-year period, rated against 50, 47 and 42 New Jersey Municipal Funds, respectively. Other share classes for these funds may have different performance characteristics.

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.

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Read the latest on municipal markets
Read the latest on municipal markets
Learn about events impacting the municipal market including COVID-19 in our municipals commentary.

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