Fixed Income

MUNUX

BlackRock Municipal Credit Alpha Portfolio

Overview

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Performance

Performance

Distributions

This fund does not have any distributions.
Performance data is not currently available
Performance data is not currently available
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.

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.

Prior to close of business on 3/21/2025, the Fund operated as an exchange-listed closed-end fund. The Fund has a different investment objective and substantially different investment strategies and investment risk profiles as the predecessor closed-end fund. Performance for the periods prior to 3/21/2025 shown above is based on the investment process and investment strategies utilized by the predecessor closed-end fund when it followed a different investment objective, investment process and investment strategies under the name “BlackRock Municipal Income Fund, Inc.” The NAV returns for the Institutional Class Shares of the Fund are the returns of the predecessor closed-end fund prior to the Fund's commencement of operations as an interval fund, which had structural, regulatory, expense, and fee differences that may result in performance differences over time. Please refer to the current prospectus for further information.

Fund data or information dated before the Fund’s conversion on 3/24/2025 pertains to the predecessor closed-end fund.

Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Mar 28, 2025
$469.8 M
Asset Class
Fixed Income
Distribution Frequency
Monthly
Open to New Investors
No
Share Class launch date
Mar 26, 2025
Net Expense Ratio
2.57%
CUSIP
09262J409
Number of Holdings
as of Feb 28, 2025
174

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity
as of Feb 28, 2025
5.88%
Yield to Worst
as of Feb 28, 2025
4.96%
WAL to Worst
as of Feb 28, 2025
7.27 yrs
Leverage
as of Feb 28, 2025
$ 97,468,191.00
% AMT Bonds
as of Feb 28, 2025
22.57%
Average Coupon
as of Feb 28, 2025
4.66%
Effective Duration
as of Feb 28, 2025
8.22 yrs
WAL to Maturity
as of Feb 28, 2025
16.00 yrs
% Leveraged
as of Feb 28, 2025
16.90%
% Insured
as of Feb 28, 2025
4.75%
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Exposure Breakdowns

Exposure Breakdowns

as of Feb 28, 2025

% of Market Value

as of Feb 28, 2025

% of Market Value

as of Feb 28, 2025

% of Market Value

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as of Feb 28, 2025

% of Market Value

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as of Feb 28, 2025

% of Market Value

as of Feb 28, 2025

% of Market 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 Feb 28, 2025
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

Patrick Haskell
Head of the Municipal Bond Group within the Portfolio Management Group (PMG) as well as Global Head of the Financial Institutions Group (FIG) Investments Business and the Global Liability Driven Investment (LDI) Business

    

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

  

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

    

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

  

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

  

Portfolio Manager

Literature

Literature

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