Fixed Income

MCYHX

High Yield Municipal Fund

Overview

Loading

Performance

Performance

Growth of Hypothetical $10,000

Performance chart data not available for display.
View full chart

Distributions

Interactive chart displaying fund performance. Javascript is required.

View full chart
  1y 3y 5y 10y
-0.54 3.34 3.87 4.53
-1.51 3.34 3.87 4.53
Benchmark (%) 3.85 4.13 3.80 4.03
Morningstar Category Avg. (%) 0.33 3.87 4.23 4.89
Morningstar Ranking 159/194 122/177 90/152 60/99
Morningstar Quartile 4 3 3 3
Lipper Category Avg. (%) 0.40 3.81 4.18 4.83
Lipper Ranking 154/189 117/168 83/143 58/98
Lipper Quartile 4 3 3 3
  YTD 1m 3m 1y 3y 5y 10y
-1.09 0.13 2.46 -0.54 10.37 20.93 55.77
-2.06 -0.87 1.46 -1.51 10.37 20.93 55.77
Benchmark (%) 3.18 0.02 1.18 3.85 12.89 20.49 48.51
Morningstar Category Avg. (%) -0.36 -0.04 2.09 0.33 12.06 22.99 61.23
Lipper Category Avg. (%) -0.34 -0.03 2.15 0.40 11.90 22.85 60.69
  2015 2016 2017 2018 2019
Total Return (%) 4.45 0.02 7.96 1.12 8.91
Benchmark (%) 3.32 0.77 4.95 1.36 7.26
Morningstar Category Avg. (%) 4.09 0.90 7.38 2.11 9.12
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.

Key Facts

Key Facts

Size of Class (Millions) as of Oct 23, 2020 $48.6 M
Size of Fund (Millions) as of Oct 23, 2020 $1,386.3 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
Distribution Frequency Monthly
Number of Holdings as of Sep 30, 2020 688
Max Offer Price as of Oct 23, 2020 $9.64
Open to New Investors Yes
Turnover Percent in the Annual Report 31%

Portfolio Characteristics

Portfolio Characteristics

Alpha (3y) as of Sep 30, 2020 -0.41
R-Squared (3y) as of Sep 30, 2020 77.64
Beta (3y) as of Sep 30, 2020 2.10
30 Day SEC Yield as of Sep 30, 2020 2.17%
Unsubsidized 30-Day SEC Yield as of Sep 30, 2020 2.12%
Yield to Maturity as of Sep 30, 2020 4.48%
Yield to Worst as of Sep 30, 2020 3.54%
Average Coupon as of Sep 30, 2020 3.14%
Effective Duration as of Sep 30, 2020 9.44 yrs
Weighted Average Life as of Sep 30, 2020 20.94 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jul 31, 2020 12.53%
Worst 3-Month Return Over the Last 3 Years 3 months ending Apr 30, 2020 -13.86%
Fund Standard Deviation (3y) as of Sep 30, 2020 8.73

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.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.75%
Net Expense Ratio 1.71%

Net Expense Ratio excluding Investment Related Expenses is 1.54%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.16%

Ratings

Ratings

Holdings

Holdings

as of Sep 30, 2020
Name Weight (%)
BUCKEYE OHIO TOB SETTLEMENT FI 5 06/01/2055 1.99
DRIVER 3.338 NYSHGR 64990EY35 1.81
TOB 4 64990FPV0 NYSHGR 144A 1.39
PORT AUTH N Y & N J 4 07/15/2060 1.31
TOB 4 5742187N7 MDSMED 144A 1.22
Name Weight (%)
ARKANSAS ST DEV FIN AUTH INDL 4.5 09/01/2049 1.14
SOUTH CAROLINA ST PUB SVCS AUT 5 12/01/2050 1.06
TOB 4 6500358F8 NYSDEV 144A 1.04
TOB 4.3 64972B8M0 NYCHSG 144A 1.02
LOUISIANA PUB FACS AUTH REV 4 04/01/2050 0.99

Exposure Breakdowns

Exposure Breakdowns

as of Sep 30, 2020

% Notional Value

Type Fund Benchmark Net
as of Sep 30, 2020

% Notional Value

Type Fund Benchmark Net
as of Sep 30, 2020

% Notional Value

Type Fund Benchmark Net
as of Sep 30, 2020

% Notional Value

Type Fund Benchmark Net
as of Sep 30, 2020

% Notional Value

Type Fund Benchmark Net
Allocations subject to change.
as of Sep 30, 2020

% Notional Value

Type Fund Benchmark Net
as of Sep 30, 2020

% Notional Value

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

  

Michael Perilli
Michael Perilli
Portfolio Manager

Literature

Literature

 

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