Fixed Income

BATEX

Allocation Target Shares: Series E Fund

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 Incept.
16.21 8.49 6.32 - 7.51
Benchmark (%) 10.80 7.20 5.51 - -
Lipper Category Avg. (%) 5.97 5.02 3.20 4.36 -
Lipper Ranking 1/289 1/256 3/221 - -
Lipper Quartile 1 1 1 - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
7.53 1.47 4.53 16.21 27.71 35.83 - 64.91
Benchmark (%) 4.34 0.95 3.19 10.80 23.18 30.73 - -
Lipper Category Avg. (%) 1.95 0.43 2.03 5.97 15.86 17.14 54.01 -
Performance data is not currently available
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.

Key Facts

Key Facts

Size of Class (Millions) as of Sep 27, 2021 $434.1 M
Size of Fund (Millions) $434.1 M
Share Class launch date Aug 03, 2014
Asset Class Fixed Income
Morningstar Category -
Lipper Classification Gen & Ins Muni Debt Fds
Benchmark Index BATS Series E Reference Benchmark
CUSIP 092480607
Distribution Frequency Monthly
Number of Holdings as of Aug 31, 2021 626
Max Offer Price as of Sep 27, 2021 $12.15
Open to New Investors Yes
Turnover Percent in the Annual Report as of Mar 31, 2021 31%

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered 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

as of current prospectus
Gross Expense Ratio 0.16%
Net Expense Ratio 0.05%

Net Expense Ratio excluding Investment Related Expenses is 0.00%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.04%

Ratings

Ratings

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 Aug 31, 2021 out of 255, 6,158, 257, 106 and 256 Funds, respectively in Lipper's Gen & Ins Muni Debt Fds classification.

Portfolio Managers

Portfolio Managers

Ted Jaeckel, CFA
Head Portfolio Manager, Municipal Mutual Fund

    

Walter O'Connor, CFA
Managing Director is a Co-head and Portfolio Manager for the Municipal Bond Funds team

  

Michael Perilli
Michael Perilli
Portfolio Manager

Literature

Literature

 

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