Fixed Income

MKNKX

New York Municipal Opportunities Fund

  • NAV as of Apr 10, 2026 $10.47
    52 WK: 9.96 - 10.62
  • 1 Day NAV Change as of Apr 10, 2026 $0.00 (0.00%)
  • NAV Total Return as of Apr 10, 2026 YTD: 1.32%
  • Morningstar Rating

Overview

About this Fund

1. Flexible municipal bond approach
2. Adapts to changing bond markets
3. Seeks tax-advantaged income through different rate environments

Investment Approach

Invests in New York municipal bonds through a flexible investment approach seeking to manage interest rate risk and credit risk while providing a compelling combination of attractive tax-advantaged income, returns and meaningful downside protection.

For more information read our monthly commentary

Loading

Performance

Performance

Distributions

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

Past distributions are not indicative of future distributions.

Certain Funds record and have an ex-dividend date daily on undistributed net investment income, with distributions paid monthly.

Click here for historical distribution data and here for upcoming distribution estimates

  1y 3y 5y 10y
Total Return (%) 3.69 3.32 1.38 2.43
Benchmark (%) 4.29 2.87 0.84 2.16
BBG Muni 85% IG New York + 10% HY NY + 5% Taxable NY Custom 4.05 3.08 0.93 -
Morningstar Category Avg. (%) 3.52 2.85 0.43 1.84
Morningstar Ranking 32/77 14/76 1/75 -
Morningstar Quartile 2 1 1 -
Lipper Ranking 36/91 18/88 1/87 -
Lipper Quartile 2 1 1 -
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 0.31 -1.94 0.31 3.69 10.30 7.07 27.11
Benchmark (%) -0.18 -2.32 -0.18 4.29 8.86 4.27 23.79
Morningstar Category Avg. (%) -0.02 -2.20 -0.02 3.52 8.80 2.15 19.98
BBG Muni 85% IG New York + 10% HY NY + 5% Taxable NY Custom -0.01 -2.23 -0.01 4.05 9.51 4.74 -
  2021 2022 2023 2024 2025
Total Return (%) 5.57 -8.32 6.88 2.40 2.82
Benchmark (%) 1.52 -8.53 6.40 1.05 4.25
Morningstar Category Avg. (%) 3.06 -12.05 7.45 1.72 2.50
BBG Muni 85% IG New York + 10% HY NY + 5% Taxable NY Custom 2.40 -9.74 7.56 1.39 3.75
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, 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.

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.

Click here for historical distribution data and here for upcoming distribution estimates

Key Facts

Key Facts

Size of Fund (Millions)
as of Apr 10, 2026
$1,083.3 M
Share Class launch date
Jan 25, 2018
Benchmark Index
BBG Municipal Bond Index Unadjusted (Risk Basis: MUNI) (USD)
Lipper Classification
NY Muni Debt Funds
Max Offer Price
as of Apr 09, 2026
$10.47
Turnover Percent in the Annual Report
as of Jun 30, 2025
26%
Size of Class (Millions)
as of Apr 10, 2026
$7.5 M
Asset Class
Fixed Income
Morningstar Category
Muni New York Long
CUSIP
09253A631
Open to New Investors
No

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Mar 31, 2026
297
Alpha (3y)
as of Mar 31, 2026
0.03
R-Squared (3y)
as of Mar 31, 2026
95.18
Beta (3y)
as of Mar 31, 2026
1.03
Unsubsidized 30-Day SEC Yield
as of Mar 31, 2026
3.94%
Weighted Average Life
as of Mar 31, 2026
9.64 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
9.04%
30 Day SEC Yield
as of Mar 31, 2026
4.01%
Yield to Maturity
as of Mar 31, 2026
5.31%
Fund Standard Deviation (3y)
as of Mar 31, 2026
5.93
Average Coupon
as of Mar 31, 2026
4.63%
Yield to Worst
as of Mar 31, 2026
4.97%
Effective Duration
as of Mar 31, 2026
9.00 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2023
-4.78%
For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.71%
Net Expense Ratio 0.65%

Net Expense Ratio excluding Investment Related Expenses is 0.45%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.19%

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for New York Municipal Opportunities Fund, as of Mar 31, 2026 rated against 76 Muni New York Long Funds based on risk adjusted total return.

Lipper Leader

 
 
 
 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Mar 31, 2026 out of 88, 5,978, 88, 49 and 88 Funds, respectively in Lipper's NY Muni Debt Funds classification.

Holdings

Holdings

as of Mar 31, 2026
Name Weight (%)
NEW YORK ENERGY FIN DEV CORP E 5 07/01/2056 2.40
BATTERY PARK CITY AUTHORITY N Y 5 11/01/2050 2.23
TOB 5 44420RBC3 HUYGEN 144A 1.66
NEW YORK TRANSN DEV CORP SPL F 6 06/30/2054 1.66
TRIBOROUGH BRDG & TUNL AUTH N 5.25 05/15/2052 1.52
Name Weight (%)
NEW YORK ST DORM AUTH REVS NON 5.5 07/01/2054 1.51
NEW YORK N Y CITY MUN WTR FIN 5.25 06/15/2053 1.49
NEW YORK ST DORM AUTH REVS NON 4.802 12/01/2034 1.46
NEW YORK ST DORM AUTH SALES TA 5 03/15/2048 1.45
NEW YORK TRANSN DEV CORP SPL F 5.5 06/30/2060 1.42
Name Market Value Weight (%) Shares Maturity Coupon (%)
Detailed Holdings and Analytics
References to holdings in “Restructured Puerto Rico Electric” reflects a contingent forward gross commitment on restructured Puerto Rico Electric Power Authority (“PREPA”) bonds. The future purchase of the restructured PREPA bonds is contingent on the PREPA bankruptcy plan being confirmed.

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 Mar 31, 2026

% of Market Value

Type Fund Benchmark Net
as of Mar 31, 2026

% of Market Value

Type Fund Benchmark Net
as of Mar 31, 2026

% of Market Value

Type Fund Benchmark Net
as of Mar 31, 2026

% of Market Value

Type Fund Benchmark Net
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.

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Sean Carney
Sean Carney
CIO of Municipal Bond Funds and Head of Municipal Strategy

   

Read More

Sean Carney, Managing Director, is Chief Investment Officer (CIO) of the Municipal Funds team and Head of the Municipal Strategy team within BlackRock's Municipal Fixed Income business in BlackRock's Portfolio Management Group (PMG). He is also a member of the firm's Investment Strategy Team, a five-member committee tasked with setting the strategic direction of BlackRock's taxable and tax-exempt product suite and a member of the Municipal Management Committee responsible for setting the overall direction of the Municipal Bond Business. Mr. Carney has 20 plus years' of experience in the industry, having joined BlackRock in 2007 as a municipal bond trader on the Private Investor (SMA) platform and previously working as a municipal bond broker at Chapdelaine & Co. in New York City. During his tenure at Blackrock he was instrumental in building out the Municipal Strategy platform as well as the Primary Markets Group.


In his current role as CIO of Municipal Bond Funds and Head of Municipal Strategist, Mr. Carney monitors market developments on a daily basis and offers analysis and interpretation of technical and fundamental developments for BlackRock's broader municipal bond organization. He is a frequent commentator on the market and is a lead author of the firm's monthly municipal market review and outlook. In seven out of the past eight years Mr. Carney received recognition as the industry’s top buy-side Municipal Strategist by Smith's Research and Grading covering over 80 buy-side and sell-side firms polling more than 1,000 institutional investors.


Mr. Carney holds a bachelor's degree from Moravian University and served six years as an infantryman in the U.S. Army National Guard.

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

  

Read More

Kevin Maloney, CFA, Managing 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.

Ryan McDonald, CFA
Ryan McDonald, CFA
Managing Director, Portfolio Manager, Municipal Mutual Funds

    

Read More

Ryan McDonald, CFA, Managing Director, is Co-Head of the Municipal Funds team and Head of the High Yield Municipal team. He is a Portfolio Manager in BlackRock’s Portfolio Management Group. Ryan is also a member of the Municipal Management Committee, which oversees all municipal bond portfolio management, research and trading activities. Prior to becoming a Portfolio Manager, Mr. McDonald was a high yield credit research analyst with a particular focus on distressed securities and special situations in the municipal market.

Prior to joining BlackRock in 2014, Mr. McDonald was a vice president at Moelis & Co. where his responsibilities included the analysis of distressed municipal bonds and derivative products. His work also encompassed the analysis of monoline insurers and their various municipal/structured finance exposures. Prior to Moelis, Mr. McDonald was a financial analyst at MAEVA Group, LLC where he was responsible for analyzing state and local pension plans and making restructuring recommendations. Prior to MAEVA, Mr. McDonald spent 8 years at JPMorgan where he worked in both the Public Finance and Structured Credit areas.

Mr. McDonald graduated summa cum laude from the University of Notre Dame in 2004.

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 Funds team 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.

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.

Portfolio Manager
Read the Team's Commentary

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.

This fund does not seek to follow a sustainable, impact or ESG investment strategy. For more information regarding the fund's investment strategy, please see the fund's prospectus or, as applicable, shareholder report.

Literature

Literature

 

There are many ways to access BlackRock Funds, learn how you can add them to your portfolio
Learn More Learn More

Discuss with your financial planner today

Share this fund with your financial planner to find out how it can fit in your portfolio.

Buy through your brokerage

BlackRock funds are also available through certain brokerage accounts. Visit your brokerage today to see how you can get started.

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

©2020 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, BUILD ON BLACKROCK, ALADDIN, iSHARES, iBONDS, iTHINKING, iSHARES CONNECT, FUND FRENZY, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, the iShares Core Graphic, CoRI and the CoRI logo are registered and unregistered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.

USR-9694