Fixed Income

BBN

Taxable Municipal Bond Trust

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

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  1y 3y 5y 10y
5.40 8.36 9.17 10.09
Market Price Total Return (%) 10.82 10.15 12.20 9.91
  YTD 1m 1y 3y 5y 10y
6.66 0.29 5.40 27.22 55.04 161.45
Market Price Total Return (%) 10.49 -1.38 10.82 33.63 77.83 157.31
  2015 2016 2017 2018 2019
NAV Total Return (%) 0.38 8.03 13.30 0.73 14.62
Market Price Total Return (%) 2.05 10.24 14.96 -2.88 22.67

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 Nov 24, 2020 $1,423,163,787
Managed Assets as of Nov 24, 2020 $2,083,818,384.61
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 1.97%
Shares Outstanding as of Nov 24, 2020 57,193,364
Number of Holdings as of Oct 30, 2020 152
Premium Discount as of Nov 24, 2020 4.06%

Portfolio Characteristics

Portfolio Characteristics

Distribution Rate as of Nov 24, 2020 5.42%
Yield to Maturity as of Oct 30, 2020 4.78%
Yield to Worst as of Oct 30, 2020 4.42%
Average Coupon as of Oct 30, 2020 9.22%
Effective Duration as of Oct 30, 2020 15.37 yrs
WAL to Maturity as of Oct 30, 2020 28.62 yrs
Leverage as of Oct 30, 2020 $ 707,887,888.00
% Leveraged as of Oct 30, 2020 33.74%
% AMT Bonds as of Oct 30, 2020 0.00%
% Insured as of Oct 30, 2020 3.73%

Holdings

Holdings

as of Oct 30, 2020
Name Weight (%)
NEW JERSEY ST TPK AUTH TPK REV 7.102 01/01/2041 2.65
MET GOVT NASHVILLE & DAVIDSON 7.431 07/01/2043 2.55
CHICAGO IL WASTEWATER TRANSMISSION 6.9 01/01/2040 2.40
FRANKLIN CNTY OHIO CONVENTION FACS 6.64 12/01/2042 2.33
ILLINOIS ST 7.35 07/01/2035 1.99
Name Weight (%)
TOBACCO SETTLEMENT FIN AUTH WE 4.306 06/01/2049 1.90
MUNICIPAL ELEC AUTH GA 6.637 04/01/2057 1.85
MUNICIPAL ELEC AUTH GA 6.655 04/01/2057 1.74
UNIVERSITY CALIF REVS 6.296 05/15/2050 1.73
REGIONAL TRANSN DIST COLO CTFS PAR 7.672 06/01/2040 1.72

Exposure Breakdowns

Exposure Breakdowns

as of Oct 30, 2020

% Notional Value

Type Fund
as of Oct 30, 2020

% Notional Value

Type Fund
as of Oct 30, 2020

% Notional Value

Type Fund
as of Oct 30, 2020

% Notional Value

Type Fund
Sorry, industry breakdowns are not available at this time.
as of Oct 30, 2020

% Notional Value

Type Fund
as of Oct 30, 2020

% 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 Oct 30, 2020
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

   

Peter Hayes
Head of Municipal Bonds

 

 

Ted Jaeckel, CFA
Head Portfolio Manager, Municipal Mutual Fund

    

Christian Romaglino
Christian Romaglino
Portfolio Manager

Literature

Literature