At a meeting held on September 13, 2024, the Board of Directors of BlackRock Municipal Bond Fund, Inc. (the “Board”), on behalf of the Fund, approved the reorganization of the Fund into the iShares High Yield Muni Active ETF, a newly created ETF. The Fund and the ETF will have identical investment objectives and fundamental investment policies and substantially similar investment strategies. Following the reorganization, the Fund will be liquidated. The reorganization is expected to occur as of the close of trading on the NYSE on February 7, 2025.
At a meeting held on September 13, 2024, the Board of Directors of BlackRock Municipal Bond Fund, Inc. (the “Board”), on behalf of the Fund, approved the reorganization of the Fund into the iShares High Yield Muni Active ETF, a newly created ETF. The Fund and the ETF will have identical investment objectives and fundamental investment policies and substantially similar investment strategies. Following the reorganization, the Fund will be liquidated. The reorganization is expected to occur as of the close of trading on the NYSE on February 7, 2025.
Overview
Performance
Performance
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Returns
1y | 3y | 5y | 10y | |
---|---|---|---|---|
Total Return (%) | 18.84 | -0.36 | 2.36 | 4.12 |
Benchmark (%) | 17.38 | 1.05 | 3.07 | 4.52 |
BBG Muni 60% HY + 20% Muni BBB + 20% Muni IG ex BBB Custom | 15.20 | 0.73 | 2.56 | - |
Morningstar Category Avg. (%) | 15.32 | -0.62 | 1.25 | 2.98 |
Morningstar Ranking | 15/189 | 103/183 | 26/175 | - |
Morningstar Quartile | 1 | 2 | 1 | 1 |
Lipper Ranking | 14/190 | 106/183 | 29/177 | - |
Lipper Quartile | 1 | 3 | 1 | - |
YTD | 1m | 3m | 1y | 3y | 5y | 10y | |
---|---|---|---|---|---|---|---|
Total Return (%) | 7.39 | 0.68 | 2.51 | 18.84 | -1.09 | 12.38 | 49.81 |
Benchmark (%) | 7.48 | 0.90 | 3.21 | 17.38 | 3.18 | 16.34 | 55.62 |
Morningstar Category Avg. (%) | 4.87 | -1.37 | 0.66 | 15.32 | -0.87 | 7.96 | 37.23 |
BBG Muni 60% HY + 20% Muni BBB + 20% Muni IG ex BBB Custom | 5.75 | 0.93 | 3.05 | 15.20 | 2.22 | 13.46 | - |
2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Total Return (%) | 10.05 | 4.58 | 9.16 | -15.24 | 7.15 |
Benchmark (%) | 7.26 | 4.95 | 7.77 | -13.10 | 9.21 |
Morningstar Category Avg. (%) | 9.12 | 3.45 | 5.44 | -13.71 | 6.48 |
BBG Muni 60% HY + 20% Muni BBB + 20% Muni IG ex BBB Custom | 9.85 | 4.98 | 5.85 | -11.85 | 8.56 |
Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.
The performance information for periods prior to January 25, 2018, the commencement of operations of the share class, shows the performance of the Fund’s Institutional Shares. The performance of this share class would be substantially similar to Institutional Shares because this share class and Institutional Shares invest in the same portfolio of securities and performance would only differ to the extent that this share class and Institutional Shares have different expenses.
Effective October 1, 2021, the Bloomberg Municipal High Yield Bond Index and a customized weighted index comprised of 20% Bloomberg Municipal Bond Rated Baa Index / 60% Bloomberg Municipal Bond: High Yield (non-Investment Grade) Total Return Index / 20% Bloomberg Municipal Investment Grade ex BBB (the “High Yield Customized Reference Benchmark”) replaced the S&P® Municipal Bond Index and the Custom High Yield Index (a customized benchmark that reflects the returns of the S&P® Customized High Yield Municipal Bond Index for periods prior to January 1, 2013, and the returns of only those bonds in the S&P® Customized High Yield Municipal Bond Index that have maturities greater than five years for periods subsequent to January 1, 2013) as the performance benchmarks against which the Fund measures its performance.
See the Fund’s prospectus for more details.
Key Facts
Key Facts
Portfolio Characteristics
Portfolio Characteristics
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.
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
Fees
Fees
Gross Expense Ratio | 0.55% |
Net Expense Ratio | 0.53% |
Net Expense Ratio excluding Investment Related Expenses is 0.49%
- Acquired Fund Fees and Expenses 0.01%
- Interest expense 0.03%
Ratings
Ratings
Holdings
Holdings
Name | Weight (%) |
---|---|
PUERTO RICO COMWLTH 0 11/01/2051 | 3.18 |
CALIFORNIA INFRASTRUCTURE & EC 8 01/01/2050 | 1.95 |
PORT BEAUMONT TEX NAV DIST DOC 5 01/01/2039 | 1.39 |
SOUTHEAST ENERGY AUTH COMMODIT 5 05/01/2053 | 1.32 |
TOB 5.25 469487WG3 JAC 144A | 1.29 |
Name | Weight (%) |
---|---|
ARKANSAS ST DEV FIN AUTH INDL 4.5 09/01/2049 | 1.21 |
OKLAHOMA DEV FIN AUTH REV 7.25 09/01/2051 | 1.02 |
BLACK BELT ENERGY GAS DIST ALA 5.25 02/01/2053 | 0.91 |
ARKANSAS ST DEV FIN AUTH INDL 4.75 09/01/2049 | 0.88 |
TOB 5.45 70879QUL5 PASSFH 144A | 0.80 |
Name | Market Value | Weight (%) | Shares | Maturity | Coupon (%) |
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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 are subject to change.
Portfolio Managers
Portfolio Managers