Fixed Income

BATEX

Allocation Target Shares: Series E Fund

  • NAV as of Nov 18, 2024 $10.34
    52 WK: 9.62 - 10.56
  • 1 Day NAV Change as of Nov 18, 2024 0.00 (0.00%)
  • NAV Total Return as of Nov 18, 2024 YTD: 5.90%
  • Morningstar Rating

Overview

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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 17.61 0.39 3.15 5.05
Benchmark (%) 17.38 1.05 3.07 4.52
Morningstar Category Avg. (%) - - - -
Morningstar Ranking - - - -
Morningstar Quartile 2 1 1 -
Lipper Category Avg. (%) 11.58 -0.26 1.15 2.34
Lipper Ranking 29/190 43/183 7/177 3/117
Lipper Quartile 1 1 1 1
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 6.47 0.84 2.50 17.61 1.18 16.75 63.71
Benchmark (%) 7.48 0.90 3.21 17.38 3.18 16.34 55.62
Morningstar Category Avg. (%) - - - - - - -
Lipper Category Avg. (%) 3.57 1.10 2.73 11.58 -0.75 5.95 26.26
  2019 2020 2021 2022 2023
Total Return (%) - - 9.28 -13.29 8.11
Benchmark (%) - - 7.77 -13.10 9.21
Morningstar Category Avg. (%) - - - - -

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, 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.
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Key Facts

Key Facts

Size of Fund (Millions)
as of Nov 18, 2024
$498.5 M
Share Class launch date
Aug 03, 2014
Benchmark Index
BBG Municipal High Yield Bond Index (Risk Basis: MUNI)
Morningstar Category
High Yield Muni
CUSIP
092480607
Open to New Investors
Yes
Size of Class (Millions)
as of Nov 18, 2024
$498.5 M
Asset Class
Fixed Income
Distribution Frequency
Monthly
Lipper Classification
Hi Yld Muni Debt Funds
Max Offer Price
as of Nov 18, 2024
$10.34
Turnover Percent in the Annual Report
as of Mar 31, 2024
19.00%

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

as of current prospectus
Gross Expense Ratio 0.22%
Net Expense Ratio 0.11%

Net Expense Ratio excluding Investment Related Expenses is 0.00%

  • Acquired Fund Fees and Expenses 0.02%
  • Interest expense 0.09%

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for Allocation Target Shares: Series E Fund, as of Mar 31, 2023 rated against 197 High Yield Muni 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 Oct 31, 2024 out of 183, 6,105, 183, 89 and 183 Funds, respectively in Lipper's Hi Yld Muni Debt Funds classification.

Holdings

Holdings

as of Oct 31, 2024
Name Weight (%)
PUBLIC FINANCE AUTHORITY WISCONSIN 5.60
PUERTO RICO SALES TAX FINANCING CORP 4.59
PUERTO RICO COMMONWEALTH OF (GOVERNMENT) 4.42
NEW YORK TRANSPORTATION DEVELOPMENT CORP 3.95
FLORIDA DEVELOPMENT FINANCE CORP 2.49
Name Weight (%)
THE SOUTHEAST ALABAMA GAS DISTRICT 2.24
CALIFORNIA INFRASTRUCTURE & ECONOMIC DEVELOPMENT BANK 1.96
HOUSTON CITY OF 1.69
BLACK BELT ENERGY GAS DIST 1.49
PUERTO RICO ELECTRIC POWER AUTHORITY 1.44
Name Market Value Weight (%) Shares Maturity Coupon (%)
Detailed Holdings and Analytics
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.

Portfolio Managers

Portfolio Managers

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

  

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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.

Ryan McDonald, CFA
Ryan McDonald, CFA
Managing Director, Municipal Fixed Income

    

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Ryan McDonald, CFA, Managing Director, is a member of Municipal Fixed Income business in BlackRock's Portfolio Management Group. Mr. McDonald is a Credit Research analyst, covering various sectors in municipal high yield 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 & Co., Mr. McDonald was a financial analyst at MAEVA Group, LLC, where he was responsible for analyzing state & local municipal 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 departments.

 

Mr. McDonald earned a BA degree in finance from the University of Notre Dame in 2004.

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

  

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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

  

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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.

Portfolio Manager