Fixed Income

MVT

MuniVest Fund II

  • NAV as of Dec 12, 2024 $12.35
    52 WK: 12.04 - 12.69
  • NAV Total Return as of: Oct 31, 2024 YTD: 1.09%
  • Distribution Rate as of Dec 11, 2024 5.85%
  • Market Price as of Dec 12, 2024 $10.99
  • Market Price Total Return as of: Oct 31, 2024 YTD: 6.88%
  • Premium Discount as of Dec 12, 2024 -11.01%

Overview

Investment Approach

BlackRock MuniVest Fund II, Inc.’s (MVT) (the 'Fund') investment objective is to provide shareholders with as high a level of current income exempt from federal income taxes as is consistent with its investment policies and prudent investment management. The Fund seeks to achieve its investment objective by investing at least 80% of its assets in municipal bonds exempt from federal income taxes (except that the interest may be subject to the federal alternative minimum tax). The Fund invests, under normal market conditions, at least 75% of its assets in municipal bonds rated investment grade and invests primarily in long-term municipal bonds with a maturity of more than ten years at the time of investment. The Fund may invest directly in such securities or synthetically through the use of derivatives.

No assurance can be given that the Fund's investment objective will be achieved.
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Performance

Performance

Distributions

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Ex-Date Payable Date Record Date Total Distribution Income ST Cap Gains Return of Capital LT Cap Gains
Record Date Ex-Date Payable Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

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Year Total Distribution Income ST Cap Gains LT Cap Gains

Past distributions are not indicative of future distributions.


If a Fund estimates that it has distributed more than its income and net realized capital gains in the current fiscal year; a portion of its distribution may be a return of capital. A return of capital may occur, for example, when some or all of a shareholder's investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect a Fund's investment performance and should not be confused with 'yield' or 'income'. When distributions exceed total return performance, the difference will reduce the Fund's net asset value per share. Although the character of income will not be determined until the end of the fund’s fiscal year, please refer to the 'Closed-End Fund Resources' section of the BlackRock website for Section 19 notices that provide estimated amounts and sources of the fund's distributions, which should not be not be relied upon for tax reporting purposes. A Form 1099-DIV for the calendar year will be sent to shareholders to illustrate how the Fund’s distributions should be reported for federal income tax purposes.

  1y 3y 5y 10y
NAV Total Return (%) 17.54 -2.10 0.78 2.91
Market Price Total Return (%) 29.21 -4.75 -0.41 2.11
  YTD 1m 3m 1y 3y 5y 10y
NAV Total Return (%) 3.74 1.57 - 17.54 -6.17 3.97 33.27
Market Price Total Return (%) 10.23 2.15 - 29.21 -13.58 -2.01 23.23
  2019 2020 2021 2022 2023
NAV Total Return (%) 10.58 7.14 4.59 -19.62 10.52
Market Price Total Return (%) 18.65 5.44 11.63 -30.59 7.15

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, 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 Dec 12, 2024
$257,683,975
Share Class launch date
Mar 29, 1993
Asset Class
Fixed Income
Distribution Frequency
Monthly
Lipper Classification
Gen & Ins Leveraged
CUSIP
09253T101
Managed Assets
-
Exchange
New York Stock Exchange Inc.
Shares Outstanding
as of Dec 12, 2024
20,861,423
Morningstar Category
Muni National Long
Premium Discount
as of Dec 12, 2024
-11.01%
Number of Holdings
as of Nov 29, 2024
219

Portfolio Characteristics

Portfolio Characteristics

Distribution Rate
as of Dec 11, 2024
5.85%
Average Coupon
as of Nov 29, 2024
4.34%
Effective Duration
as of Nov 29, 2024
12.36 yrs
WAL to Maturity
as of Nov 29, 2024
25.87 yrs
% Leveraged
as of Nov 29, 2024
33.10%
% Insured
as of Nov 29, 2024
8.53%
Yield to Maturity
as of Nov 29, 2024
6.67%
Yield to Worst
as of Nov 29, 2024
6.13%
WAL to Worst
as of Nov 29, 2024
10.75 yrs
Leverage
as of Nov 29, 2024
$ 129,065,432.00
% AMT Bonds
as of Nov 29, 2024
11.43%

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.

MSCI - Controversial Weapons
as of Nov 29, 2024
0.00%
MSCI - Nuclear Weapons
as of Nov 29, 2024
0.00%
MSCI - Civilian Firearms
as of Nov 29, 2024
0.00%
MSCI - Tobacco
as of Nov 29, 2024
0.00%
MSCI - UN Global Compact Violators
as of Nov 29, 2024
0.00%
MSCI - Thermal Coal
as of Nov 29, 2024
0.00%
MSCI - Oil Sands
as of Nov 29, 2024
0.00%
Business Involvement Coverage
as of Nov 29, 2024
2.17%
Percentage of Fund not covered
as of Nov 29, 2024
97.83%
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 0.09%.

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

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Fees

Fees

on net assets
Gross Expense Ratio 3.14%
Management Fee 0.74%
Interest Expense 2.28%
Other Expenses 0.11%
Acquired Fund Fees and Expenses 0.01%
on managed assets
Acquired Fund Fees and Expenses 0.01%
Interest Expenses 1.55%
Management Fee 0.50%
Other Expenses 0.08%
Gross Expense 2.14%

Fees data reflected above is current as of the latest annual shareholder report.

Ratings

Ratings

Holdings

Holdings

as of Nov 29, 2024
Name Weight (%)
TOB 5.75 292723AY9 ESDPWR 144A 2.90
TOB 5.25 84136FBT3 SEA 144A 2.80
TOB 5.5 7352403J0 PTPAPT 144A 2.11
TOB -99 70342PAR5 PEGUTL 144A 1.85
NEW JERSEY ECONOMIC DEV AUTH R 5 06/15/2048 1.61
Name Weight (%)
NEW CANEY TEX INDPT SCH DIST 5 02/15/2048 1.50
TOBACCO SETTLEMENT FING CORP N 5 06/01/2046 1.49
PUERTO RICO SALES TAX FING CO (RST 5 07/01/2058 1.48
TOB 6.25 70879QUM3 PASSFH 144A 1.41
TAMPA-HILLSBOROUGH CNTY FLA EX 5 07/01/2047 1.34
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

as of Nov 29, 2024

% Notional Value

Type Fund
as of Nov 29, 2024

% Notional Value

Type Fund
as of Nov 29, 2024

% Notional Value

Type Fund
as of Nov 29, 2024

% Notional Value

Type Fund
as of Nov 29, 2024

% Notional Value

Type Fund
as of Nov 29, 2024

% 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 Nov 29, 2024
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 
Michael Kalinoski, CFA 
Director, Portfolio Manager, Municipal Mutual Funds

   

Read More

Michael Kalinoski, CFA , Director, is a portfolio manager on the Municipal Mutual Fund Desk within BlackRock's Municipal Fixed Income business in BlackRock's Portfolio Management Group.

 

Mr. Kalinoski's service with the firm dates back to 1999, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, he was a member of the tax-exempt fixed income team responsible for managing a number of national and state funds. Prior to joining MLIM in 1999, Mr. Kalinoski was a municipal trader with Strong Capital Management.

 

Mr. Kalinoski earned a BS degree in accounting from Marquette University in 1992.

Walter O'Connor, CFA
Walter O'Connor, CFA
Managing Director, Co-Head and Portfolio Manager, Municipal Mutual Funds

  

Read More

Walter O'Connor, CFA, Managing Director and Co-Head of the Municipal Funds team within the Municipal Fixed Income business in BlackRock's Portfolio Management Group. He is also a member of the Municipal Management Committee, which oversees all municipal bond portfolio management, research and trading activities.

 

Mr. O'Connor's service with the firm dates back to 1991, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, he was a portfolio manager for municipal bond retail mutual funds. Prior to joining MLIM, Mr. O'Connor was with Prudential Securities, where he was involved in trading, underwriting, and arbitrage for municipal securities and financial futures.

 

Mr. O'Connor earned a BA degree in finance and philosophy from the University of Notre Dame in 1984.

Kevin Maloney, CFA
Kevin Maloney, CFA
Director, Co-Head and Portfolio Manager, Municipal Mutual Funds

  

Read More

Kevin Maloney, CFA, Director and Co-Head of the Municipal Funds team, is a Portfolio Manager within the Municipal Fixed Income business in BlackRock's Portfolio Management Group. He is also a member of the Municipal Management Committee, which oversees all municipal bond portfolio management, research, and trading activities.

 

Mr. Maloney began his career at BlackRock in 2011 as a research analyst on the Municipal Credit Research Team.

 

He graduated from Drexel University in 2011 with a BS degree in Finance.

Kristi Manidis
Kristi Manidis
Director, Portfolio Manager, Municipal Mutual Funds

  

Read More

Kristi Manidis, Director, is a Portfolio Manager for the Municipal Fixed Income business in BlackRock's Portfolio Management Group.

 

Prior to moving to her current role in 2009, Ms. Manidis was a trader and portfolio manager on various high net worth equity and balanced separately managed accounts. Previously, she was responsible for institutional client service and marketing for BlackRock's Cash Management Group. Ms. Manidis began her career at BlackRock in 2003.

 

Ms. Manidis earned a BS degree in Business Administration, with concentrations in Finance and Management Information Systems, from Drexel University in 2003.

Christian Romaglino, CFA
Christian Romaglino, CFA
Director, Portfolio Manager, Municipal Mutual Funds

   

Read More

Christian Romaglino, CFA, Director, is a Portfolio Manager for the Municipal Fixed Income business within BlackRock's Portfolio Management Group.
Prior to joining BlackRock in 2017, Mr. Romaglino was a Portfolio Manager at Brown Brothers Harriman focusing on a diverse set of institutional mandates and high net worth SMAs. Mr. Romaglino also held various trading and portfolio construction positions at Brown Brothers Harriman across several taxable fixed income sectors prior to 2010 when he transitioned to Municipals.
Mr. Romaglino earned a BS degree in Industrial Engineering from Lehigh University.

Phillip Soccio, CFA
Phillip Soccio, CFA
Director, Portfolio Manager, Municipal Mutual Funds

  

Read More

Phillip Soccio, CFA, Director, is a Portfolio Manager for the Municipal Fixed Income business in BlackRock's Portfolio Management Group. Prior to assuming his current role in 2007, Mr. Soccio was a member of BlackRock's Cash Management Group, where he was responsible for managing various tax-exempt money market funds. From 1998 to 2000, he was a member of BlackRock's Account Management Group responsible for institutional client service and marketing support. Mr. Soccio began his career at BlackRock in 1998.

Mr. Soccio earned a BS degree in finance from Wilmington University.

Portfolio Manager

Literature

Literature

 

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