Fixed Income

BTZ

BlackRock Credit Allocation Income Trust

  • NAV as of Oct 30, 2026 $10.42
    52 WK: 10.33 - 11.44
  • NAV Total Return as of: Sep 30, 2026 YTD: -1.63
  • Distribution Rate as of Oct 30, 2026 10.60%
  • Market Price as of Oct 30, 2026 $9.50
  • Market Price Total Return as of: Sep 30, 2026 YTD: -7.45
  • Premium Discount as of Oct 30, 2026 -8.83%

Overview

Investment Approach

BlackRock Credit Allocation Income Trust’s (BTZ) (the 'Trust') investment objective is to provide current income, current gains and capital appreciation. The Trust seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets in credit-related securities, including, but not limited to, investment grade corporate bonds, high yield bonds (commonly referred to as 'junk' bonds), bank loans, preferred securities or convertible bonds or derivatives with economic characteristics similar to these credit-related securities. The Trust may invest directly in such securities or synthetically through the use of derivatives.
No assurance can be given that the Trust’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 (%) -0.32 8.39 1.28 4.49
Market Price Total Return (%) -7.19 8.52 -0.49 4.43
  YTD 1m 3m 1y 3y 5y 10y
NAV Total Return (%) -1.63 -2.85 - -0.32 27.34 6.57 55.10
Market Price Total Return (%) -7.45 -6.63 - -7.19 27.80 -2.44 54.27
  2021 2022 2023 2024 2025
NAV Total Return (%) 2.80 -19.55 14.34 6.63 10.42
Market Price Total Return (%) 9.36 -27.10 12.70 11.24 13.53
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 redeemed or sold, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month end may be found in the Performance section.

Returns are shown net of advisory fees paid by the fund and net of the fund’s operating fees and expenses. Numbers may reflect small variances due to rounding. Investors who purchase shares of the fund through an investment adviser or other financial professional may separately pay a fee to that service provider. The fund’s market price and net asset value will fluctuate with market conditions. All return data assumes reinvestment of all distributions. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past

Key Facts

Key Facts

Net Assets
as of Oct 30, 2026
$972,096,302
Fund Launch Date
Dec 27, 2006
Asset Class
Fixed Income
Morningstar Category
Multisector Bond
Premium Discount
as of Oct 30, 2026
-8.83%
Number of Holdings
as of Sep 30, 2026
1,680
Managed Assets
as of Oct 30, 2026
$1,308,112,772.59
Exchange
NYSE
Shares Outstanding
as of Oct 30, 2026
93,324,457
Lipper Classification
Corp Debt BBB Leveraged
CUSIP
092508100

Portfolio Characteristics

Portfolio Characteristics

Distribution Rate
as of Oct 30, 2026
10.60%
Average Coupon
as of Sep 30, 2026
6.95%
WAL to Worst
as of Sep 30, 2026
13.13 yrs
Leverage
as of Sep 30, 2026
$ 358,987,753.00
% Leveraged
as of Sep 30, 2026
27.03%
Yield to Maturity
as of Sep 30, 2026
8.43%
Yield to Worst
as of Sep 30, 2026
8.22%
WAL to Maturity
as of Sep 30, 2026
18.91 yrs
Effective Duration
as of Sep 30, 2026
5.46 yrs
This information must be preceded or accompanied by an effective prospectus or shareholder report. For standardized performance, please see the Performance section above.

Fees

Fees

On Net Assets
Gross Expense Ratio 3.38%
Management Fee 0.95%
Interest Expense 2.35%
Other Expenses 0.07%
Acquired Fund Fees and Expenses 0.01%
On Managed Assets
Gross Expense 2.21%
Management Fee 0.62%
Interest Expenses 1.54%
Other Expenses 0.04%
Acquired Fund Fees and Expenses 0.01%

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

Ratings

Ratings

Exposure Breakdowns

Exposure Breakdowns

as of Sep 30, 2026

% of Market Value

Type Fund
as of Sep 30, 2026

% of Market Value

Type Fund
as of Sep 30, 2026

% of Market Value

Type Fund
as of Sep 30, 2026

% of Market Value

Type Fund
as of Sep 30, 2026

% of Market Value

Type Fund
as of Sep 30, 2026

% of Market Value

Type Fund
as of Sep 30, 2026

% of Market 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.

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

Jeffrey Cucunato
Jeffrey Cucunato
Head of Multi Strategy Debt Solutions, Managing Director

Jeff Cucunato is the lead portfolio manager for the Multi-Strategy Credit platform within BlackRock's Global Credit group.

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Jeff Cucunato is the lead portfolio manager for the Multi-Strategy Credit platform within BlackRock's Global Credit group. Mr. Cucunato is responsible for managing portfolios that allocate to opportunities across the global credit markets. He also chairs the credit platform's Investment Strategy Group, which focuses on evaluating investment opportunities across global investment grade, high yield, bank loans and illiquid credit.

 
Previously, Mr. Cucunato was Head of Investment Grade Credit where he led the firm's U.S. fundamental investment grade credit effort for over 10 years and spent 15 years as the lead portfolio manager for BlackRock's investment grade credit and long duration portfolios. He began his investment career in 1997 focusing on interest rate products, including management of BlackRock's inflation-linked bond portfolios. Mr. Cucunato joined BlackRock in 1995 as an analyst in the Institutional Client Business group, working with international clients and alternative investments.
 
Mr. Cucunato earned a BA degree, cum laude, in history from Dartmouth College in 1995.

Mitchell S. Garfin, CFA
Mitchell S. Garfin, CFA
Co-Head of Global Leveraged Finance

  

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Mitchell S. Garfin, CFA, Managing Director, is Co-Head of the Global Leveraged Finance team within BlackRock’s Private Financing Solutions (PFS) Platform. The Leveraged Finance team manages approximately $100 billion of dedicated high yield and leveraged loan strategies on a global and regional basis. Mr. Garfin, together with David Delbos, leads the team and oversees dedicated Global, U.S., European, and Asia high yield and leveraged loan strategies, as well as the Magnetite and BlackRock European CLO franchises.

 

Mr. Garfin’s tenure with the firm dates back to 1997 when he joined as an Analyst. He spent three years in the Account Management Group where he maintained responsibility for developing and maintaining relationships with the firm’s taxable financial institution clients. In 2000, Mr. Garfin moved to the investment side of the business where he initially spent four years as an investment grade credit research analyst. Here, he was responsible for providing investment recommendations on companies in the metals & mining, paper & packaging, utilities and energy sectors. In 2005, Mr. Garfin transitioned to a portfolio management role with the investment grade credit team where he was responsible for sector positioning and trading within the commodities and basic materials sectors. Since 2007, Mr. Garfin has been a portfolio manager with the high yield credit team, and he assumed his current, senior responsibilities in 2014.

 

Mr. Garfin earned a bachelor’s degree, with distinction, in Finance from the University of Michigan in 1997 and an MBA degree in Finance and Economics from NYU Stern in 2005.

Charley Hung
Charley Hung

CFA, CAIA, is a portfolio manager for the Multi-Strategy Credit team within BlackRock's Global Credit group.

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Charley Hung, CFA, CAIA, is a portfolio manager for the Multi-Strategy Credit team within BlackRock's Global Credit group.

Charley earned a Bachelor of Science degree, summa cum laude, in Finance, Economics, and Statistics from New York University's Stern School of Business in 2013.

Portfolio Manager

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