Fixed Income

BBN

Taxable Municipal Bond Trust

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
-19.24 -1.77 2.43 4.98
Market Price Total Return (%) -20.87 -1.31 2.62 5.01
  YTD 1m 1y 3y 5y 10y
-21.26 -0.44 -19.24 -5.20 12.74 62.60
Market Price Total Return (%) -24.60 -3.83 -20.87 -3.89 13.80 63.09
  2017 2018 2019 2020 2021
NAV Total Return (%) 13.30 0.73 14.62 10.14 5.73
Market Price Total Return (%) 14.96 -2.88 22.67 17.08 2.75

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.

Key Facts

Key Facts

Net Assets as of Aug 08, 2022 $1,196,744,484
Managed Assets as of Aug 08, 2022 $1,788,382,037.60
Share Class launch date Aug 27, 2010
Exchange New York Stock Exchange Inc.
Asset Class Fixed Income
Morningstar Category Long-Term Bond
Lipper Classification General Bond Funds
CUSIP 09248X100
Management Fee 0.55%
Gross Expense Ratio 1.07%
Shares Outstanding as of Aug 08, 2022 61,332,620
Number of Holdings as of Jul 29, 2022 176
Premium Discount as of Aug 08, 2022 0.46%

Portfolio Characteristics

Portfolio Characteristics

Distribution Rate as of Aug 08, 2022 7.52%
Yield to Maturity as of Jul 29, 2022 5.85%
Yield to Worst as of Jul 29, 2022 5.80%
Average Coupon as of Jul 29, 2022 6.92%
Effective Duration as of Jul 29, 2022 11.54 yrs
WAL to Maturity as of Jul 29, 2022 25.32 yrs
Leverage as of Jul 29, 2022 $ 595,793,625.00
% Leveraged as of Jul 29, 2022 33.23%
% AMT Bonds as of Jul 29, 2022 0.00%
% Insured as of Jul 29, 2022 2.21%

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% 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. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG 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. The Fund manager conducts regular portfolio risk reviews with the 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.

Fees

Fees

on net assets
Management Fee 0.81%
Interest Expense 0.20%
Other Expenses 0.06%
Acquired Fund Fees and Expenses 0.00%
Gross Expense Ratio 1.07%
on managed assets
Management Fee 0.55%
Interest Expense 0.13%
Other Expenses 0.04%
Acquired Fund Fees and Expenses 0.00%
Gross Expense Ratio 0.72%

Holdings

Holdings

as of Jul 29, 2022
Name Weight (%)
NEW JERSEY ST TPK AUTH TPK REV 7.102 01/01/2041 2.54
MET GOVT NASHVILLE & DAVIDSON 7.431 07/01/2043 2.51
CHICAGO IL WASTEWATER TRANSMISSION 6.9 01/01/2040 2.41
ILLINOIS ST 7.35 07/01/2035 2.11
FRANKLIN CNTY OHIO CONVENTION FACS 6.64 12/01/2042 2.02
Name Weight (%)
MUNICIPAL ELEC AUTH GA 6.637 04/01/2057 1.79
UNIVERSITY CALIF REVS 6.296 05/15/2050 1.72
REGIONAL TRANSN DIST COLO CTFS PAR 7.672 06/01/2040 1.69
UTAH TRAN AUTH SALES TAX REV 5.705 06/15/2040 1.69
TOBACCO SETTLEMENT FING CORP VA 6.706 06/01/2046 1.66

Exposure Breakdowns

Exposure Breakdowns

as of Jul 29, 2022

% Notional Value

Type Fund
as of Jul 29, 2022

% Notional Value

Type Fund
as of Jul 29, 2022

% Notional Value

Type Fund
as of Jul 29, 2022

% Notional Value

Type Fund
Sorry, industry breakdowns are not available at this time.
as of Jul 29, 2022

% Notional Value

Type Fund
as of Jul 29, 2022

% Notional Value

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 Jul 29, 2022
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

Michael Kalinoski, CFA
Portfolio Manager, Municipal Mutual Fund

   

Ted Jaeckel, CFA
Head Portfolio Manager, Municipal Mutual Fund

    

Christian Romaglino
Christian Romaglino
Portfolio Manager

Literature

Literature