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Overview
Performance
Performance
Growth of Hypothetical $10,000
Performance chart data not available for display.
Distributions
Interactive chart displaying fund performance. Javascript is required.
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Returns
Performance data is not currently available
Performance data is not currently available
Performance data is not currently available
Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.
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 Sep 22, 2023
$3,927.7 M
Size of Fund (Millions)
as of Sep 22, 2023
$9,656.6 M
Share Class launch date
Nov 02, 1979
Asset Class
Fixed Income
Morningstar Category
Muni National Interm
Lipper Classification
Gen & Ins Muni Debt Fds
Benchmark Index
BBG Municipal Bond Index Unadjusted (Risk Basis: MUNI)
CUSIP
09253C876
Number of Holdings
as of Aug 31, 2023
605
Max Offer Price
as of Sep 22, 2023
$9.83
Open to New Investors
Yes
Turnover Percent in the Annual Report
63%
Portfolio Characteristics
Portfolio Characteristics
R-Squared (3y)
as of Aug 31, 2023
97.98
Beta (3y)
as of Aug 31, 2023
1.12
Average Coupon
as of Aug 31, 2023
4.79%
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2023
9.13%
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2022
-7.86%
Fund Standard Deviation (3y)
as of Aug 31, 2023
6.96
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.
Sustainability Characteristics
Sustainability Characteristics
To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.
Business Involvement
Business Involvement
Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.
Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. For more information regarding a fund's investment strategy, please see the fund's prospectus.
Review the MSCI methodology behind the Business Involvement metrics, using links below.
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 0.00%.
Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.
Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.
ESG Integration
ESG Integration
ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.
Where applicable, the Fund manager includes ESG considerations in combination with other information in the research and due diligence stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. This information may broadly inform investment decisions: ESG criteria are considered in combination with other information. The Fund manager conducts regular portfolio risk reviews between the investment team and BlackRock's Risk and Quantitative Analysis group. These reviews include discussion of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors, where appropriate.
Holdings
Holdings
as of Aug 31, 2023
| Name | Weight (%) |
|---|---|
| LAKE CHARLES LA HBR & TERM DIS 1 12/01/2051 | 1.92 |
| CALIFORNIA CMNTY CHOICE FING A 4 02/01/2052 | 1.49 |
| MIAMI-DADE CNTY FLA AVIATION R 5 10/01/2040 | 1.19 |
| UNIVERSITY CALIF REVS FOR PREV 5 05/15/2042 | 1.09 |
| SOUTHEAST ENERGY AUTH COMMODIT 4 11/01/2051 | 1.04 |
| Name | Weight (%) |
|---|---|
| MASSACHUSETTS ST 5.25 09/01/2043 | 1.00 |
| TENNESSEE ENERGY ACQUISITION C 5 05/01/2053 | 0.98 |
| UNIVERSITY CALIF REVS 5 05/15/2046 | 0.97 |
| SAN FRANCISCO CALIF CITY & CNT 1 10/01/2026 | 0.97 |
| MASSACHUSETTS ST 5.25 04/01/2047 | 0.92 |
| Name | Weight (%) | Shares | Market Value | Coupon (%) | Maturity |
|---|
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.
Exposure Breakdowns
Exposure Breakdowns
Allocations subject to change.
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.
Allocations are subject to change.
Portfolio Managers
Portfolio Managers
Managing Director is a Co-head and Portfolio Manager for the Municipal Bond Funds team
Kevin Maloney
Phillip Soccio
Portfolio Manager
Literature
Literature
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