Fixed Income

BATEX

Allocation Target Shares: Series E Fund

  • NAV as of Apr 25, 2025 $9.89
    52 WK: 9.62 - 10.56
  • 1 Day NAV Change as of Apr 25, 2025 0.02 (0.20%)
  • NAV Total Return as of Apr 25, 2025 YTD: -2.04%
  • Morningstar Rating

Overview

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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 5.05 2.23 4.19 4.47
Benchmark (%) 5.59 2.86 4.31 4.25
Morningstar Category Avg. (%) - - - -
Morningstar Ranking - - - -
Morningstar Quartile 2 1 1 -
Lipper Category Avg. (%) 1.61 1.14 1.12 1.92
Lipper Ranking 29/190 23/179 5/173 3/114
Lipper Quartile 1 1 1 1
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 0.56 -1.33 0.56 5.05 6.84 22.79 54.83
Benchmark (%) 0.82 -1.18 0.82 5.59 8.82 23.48 51.65
Morningstar Category Avg. (%) - - - - - - -
Lipper Category Avg. (%) -0.45 -1.78 -0.45 1.61 3.47 5.79 21.22
  2020 2021 2022 2023 2024
Total Return (%) - 9.28 -13.29 8.11 5.54
Benchmark (%) - 7.77 -13.10 9.21 6.32
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 Apr 25, 2025
$486.5 M
Share Class launch date
Aug 03, 2014
Benchmark Index
BBG Municipal High Yield Bond Index (Risk Basis: MUNI) (USD)
Morningstar Category
High Yield Muni
CUSIP
092480607
Open to New Investors
Yes
Size of Class (Millions)
as of Apr 25, 2025
$486.5 M
Asset Class
Fixed Income
Distribution Frequency
Monthly
Lipper Classification
Hi Yld Muni Debt Funds
Max Offer Price
as of Apr 25, 2025
$9.89
Turnover Percent in the Annual Report
as of Mar 31, 2024
19%

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 Mar 31, 2025 out of 179, 6,077, 179, 80 and 179 Funds, respectively in Lipper's Hi Yld Muni Debt Funds classification.

Holdings

Holdings

as of Mar 31, 2025
Name Weight (%)
PUBLIC FINANCE AUTHORITY WISCONSIN 5.45
CALIFORNIA INFRASTRUCTURE & ECONOMIC DEVELOPMENT BANK 3.86
NEW YORK TRANSPORTATION DEVELOPMENT CORP 3.50
PUERTO RICO SALES TAX FINANCING CORP 3.32
FLORIDA DEVELOPMENT FINANCE CORP 2.78
Name Weight (%)
PUERTO RICO COMMONWEALTH OF (GOVERNMENT) 2.47
NATIONAL FINANCE AUTHORITY NH 2.42
MASSACHUSETTS (COMMONWEALTH OF) 1.88
BUCKEYE OHIO TOB SETTLEMENT 1.63
HOUSTON CITY OF 1.58
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

  

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.

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

  

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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.

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

    

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Ryan McDonald, CFA, Managing Director, is Head of the Municipal High Yield Franchise and a Portfolio Manager 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. Prior to becoming a Portfolio Manager, Mr. McDonald was a high yield credit research analyst 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, Mr. McDonald was a financial analyst at MAEVA Group, LLC where he was responsible for analyzing state and local 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 areas.

 

Mr. McDonald graduated summa cum laude 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.

Portfolio Manager

Literature

Literature

 

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