Skip to content

Fixed Income

MCYHX

High Yield Municipal Fund

Overview

Loading

Performance

Performance

  • Returns

  1y 3y 5y 10y
8.91 5.94 4.43 5.75
7.91 5.94 4.43 5.75
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.

as of Dec 31, 2019

7.26 4.49 3.50 4.41
Morningstar Category Avg. (%) High Yield Muni

as of Dec 31, 2019

9.12 6.13 4.67 5.78
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking.

as of Dec 31, 2019

96/188 88/155 79/135 46/89
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking.

as of Dec 31, 2019

3 3 3 3
Lipper Category Avg. (%) Hi Yld Muni Debt Funds

as of Dec 31, 2019

9.05 6.11 4.66 5.70
Lipper Ranking Rankings are based on total return excluding sales charges.

as of Dec 31, 2019

105/189 85/153 76/132 43/88
Lipper Quartile Rankings are based on total return excluding sales charges.

as of Dec 31, 2019

3 3 3 2
  YTD 1m 3m 1y 3y 5y 10y
8.91 0.32 0.56 8.91 18.90 24.21 74.86
7.91 -0.68 -0.44 7.91 18.90 24.21 74.86
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.

as of Dec 31, 2019

7.26 0.33 0.65 7.26 14.09 18.78 53.96
Morningstar Category Avg. (%) High Yield Muni

as of Dec 31, 2019

9.12 0.42 0.77 9.12 19.53 25.64 75.32
Lipper Category Avg. (%) Hi Yld Muni Debt Funds

as of Dec 31, 2019

9.05 0.42 0.76 9.05 19.54 25.72 74.57
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.

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.

Performance chart data not available for display.
View full chart

Distributions

Interactive chart displaying fund performance. Javascript is required.

View full chart
BlackRock Fixed Income Funds Delivered
21 of 24 U.S. bond funds, accounting for 98% of our active mutual fund assets, outperformed within their Morningstar peer groups. Based on institutional share class.*
BlackRock Fixed Income Funds Delivered

Key Facts

Key Facts

Size of Class (Millions) as of Jan 24, 2020 $66.5 M
Size of Fund (Millions) as of Jan 24, 2020 $1,437.6 M
Share Class launch date Aug 01, 2006
Asset Class Fixed Income
Morningstar Category High Yield Muni
Lipper Classification Hi Yld Muni Debt Funds
Benchmark Index S&P Municipal Bond Index
CUSIP 09253C777
Number of Holdings as of Dec 31, 2019 693
Max Offer Price as of Jan 24, 2020 $10.20
Open to New Investors Yes
Turnover Percent as of Dec 31, 2019 14%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Dec 31, 2019 78.92
Beta (3y) as of Dec 31, 2019 0.93
Average Coupon as of Dec 31, 2019 4.60%
Best 3-Month Return Over the Last 3 Years 3 months ending May 31, 2019 4.21%
Worst 3-Month Return Over the Last 3 Years 3 months ending Nov 30, 2018 -1.11%
Fund Standard Deviation (3y) as of Dec 31, 2019 2.35

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

Holdings

Holdings

as of Dec 31, 2019
Name Weight (%)
DRIVER 3.338 NYSHGR 64990EY35 1.87
TOB 4 64990FPV0 NYSHGR 144A 1.39
ARKANSAS ST DEV FIN AUTH INDL 4.5 09/01/2049 1.23
SOUTH CAROLINA ST PUB SVCS AUT 5 12/01/2050 1.07
TOB 4 6500358F8 NYSDEV 144A 1.07
Name Weight (%)
VANECK VECTORS HIGH-YIELD MUNICIPA 1.04
PUERTO RICO SALES TAX FING CO (RST 5 07/01/2058 1.03
GOLDEN ST TOB SECURITIZATION C 5 06/01/2047 1.03
TOB 4.3 64972B8M0 NYCHSG 144A 1.02
OHIO ST AIR QUALITY DEV AUTH R 2.1 07/01/2028 0.90

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

Ted Jaeckel, CFA
Head Portfolio Manager, Municipal Mutual Fund

    

Walter O'Connor, CFA
Managing Director is a Co-head and Portfolio Manager for the Municipal Bond Funds team

  

Portfolio Manager

Literature

Literature

 

There are many ways to access BlackRock Funds, learn how you can add them to your portfolio