Fixed Income

BBN

Taxable Municipal Bond Trust

  • NAV as of Jul 11, 2025 $16.88
    52 WK: 16.45 - 18.63
  • Morningstar Rating
  • Distribution Rate as of Jul 11, 2025 7.01%
  • Market Price as of Jul 11, 2025 $15.90
  • Premium Discount as of Jul 11, 2025 -5.84%

Overview

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Performance

Performance

Distributions

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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 Incept.
NAV Total Return (%) - - - - -
Market Price Total Return (%) - - - - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
NAV Total Return (%) - 3.15 - - - - - -
Market Price Total Return (%) - 2.35 - - - - - -
  2020 2021 2022 2023 2024
NAV Total Return (%) 10.14 5.73 -26.58 12.04 1.45
Market Price Total Return (%) 17.08 2.75 -30.99 3.57 5.98

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, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.


Returns are shown net of advisory fees paid by the fund and net of the fund’s operating fees and expenses. Investors who purchase shares of the fund through an investment adviser or other financial professional may separately pay a fee to that service provider. Past performance is not indicative of future results.

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 may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Key Facts

Key Facts

Net Assets
as of Jul 11, 2025
$1,043,226,085
Share Class launch date
Aug 27, 2010
Asset Class
Fixed Income
Morningstar Category
Long-Term Bond
Premium Discount
as of Jul 11, 2025
-5.84%
Number of Holdings
as of Jun 30, 2025
204
Managed Assets
as of Jul 11, 2025
$1,563,332,941.74
Exchange
New York Stock Exchange Inc.
Shares Outstanding
as of Jul 11, 2025
61,792,514
Lipper Classification
General Bond Funds
CUSIP
09248X100

Portfolio Characteristics

Portfolio Characteristics

Distribution Rate
as of Jul 11, 2025
7.01%
Average Coupon
as of Jun 30, 2025
6.11%
Effective Duration
as of Jun 30, 2025
10.92 yrs
WAL to Maturity
as of Jun 30, 2025
22.12 yrs
% Leveraged
as of Jun 30, 2025
32.98%
% Insured
as of Jun 30, 2025
3.46%
Yield to Maturity
as of Jun 30, 2025
6.56%
Yield to Worst
as of Jun 30, 2025
6.52%
WAL to Worst
as of Jun 30, 2025
19.94 yrs
Leverage
as of Jun 30, 2025
$ 523,605,517.00
% AMT Bonds
as of Jun 30, 2025
0.37%
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 3.42%
Management Fee 0.81%
Interest Expense 2.55%
Other Expenses 0.06%
Acquired Fund Fees and Expenses 0.00%
on managed assets
Acquired Fund Fees and Expenses 0.00%
Interest Expenses 1.74%
Management Fee 0.55%
Other Expenses 0.03%
Gross Expense 2.32%

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

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Taxable Municipal Bond Trust, as of Jun 30, 2025 rated against 3 Long-Term Bond Funds based on risk adjusted total return.

Holdings

Holdings

as of Jun 30, 2025
Name Weight (%)
MET GOVT NASHVILLE & DAVIDSON 7.431 07/01/2043 2.63
CHICAGO IL WASTEWATER TRANSMISSION 6.9 01/01/2040 2.59
NEW JERSEY ST TPK AUTH TPK REV 7.102 01/01/2041 2.54
ILLINOIS ST 7.35 07/01/2035 2.00
MUNICIPAL ELEC AUTH GA 6.637 04/01/2057 1.74
Name Weight (%)
AMERICAN MUN PWR OHIO INC 7.834 02/15/2041 1.59
PENNSYLVANIA ECONOMIC DEV FING AUT 6.532 06/15/2039 1.58
SALT RIVER PROJ AZ 4.839 01/01/2041 1.50
TOBACCO SETTLEMENT FING CORP VA 6.706 06/01/2046 1.49
NJ ST EDA PENSION 7.425 02/15/2029 1.44
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 Jun 30, 2025

% Notional Value

as of Jun 30, 2025

% Notional Value

as of Jun 30, 2025

% Notional Value

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as of Jun 30, 2025

% Notional Value

Show More
as of Jun 30, 2025

% Notional Value

as of Jun 30, 2025

% Notional Value

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.

as of Jun 30, 2025
Notional value represents a fund’s use of derivatives, including but not limited to futures, options, and swaps. This value captures the fund exposures as if the derivative was replaced with the underlying asset and the corresponding financing or lending, such that all exposures sum to the net asset value. For non-derivatives, the market value and the notional value are identical.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Michael Kalinoski, CFA 
Michael Kalinoski, CFA 
Director, Portfolio Manager, Municipal Mutual Funds
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Michael Kalinoski, CFA , Director, is a portfolio manager on the Municipal Mutual Fund Desk 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.

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.

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.

Kristi Manidis
Kristi Manidis
Director, Portfolio Manager, Municipal Mutual Funds

  

Read More

Kristi Manidis, Director, is a Portfolio Manager for the Municipal Fixed Income business in BlackRock's Portfolio Management Group.

 

Prior to moving to her current role in 2009, Ms. Manidis was a trader and portfolio manager on various high net worth equity and balanced separately managed accounts. Previously, she was responsible for institutional client service and marketing for BlackRock's Cash Management Group. Ms. Manidis began her career at BlackRock in 2003.

 

Ms. Manidis earned a BS degree in Business Administration, with concentrations in Finance and Management Information Systems, from Drexel University in 2003.

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.

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

  

Read More

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.

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

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