BNMLX: BlackRock National Municipal K

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BNMLX BlackRock National Municipal K

  • Fund
  • BNMLX
  • Price as of: Jan 17, 2020
  • $11.25
    - $0.00 - 0.00%

Profile

BNMLX - Profile

Vitals

  • YTD Return 0.9%
  • 3 Yr Annualized Return 4.5%
  • 5 Yr Annualized Return 3.5%
  • Net Assets $12.9 B
  • Holdings in Top 10 17.4%

52 WEEK LOW AND HIGH

$11.25
$10.65
$11.25

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.46%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 77.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $5,000,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 0.9%
  • 3 Yr Annualized Total Return 4.5%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.09%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BlackRock National Municipal Fund K Share
  • Fund Family Name
    BlackRock
  • Inception Date
    Jul 15, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Walter O'Connor

Fund Description

The fund seeks to achieve its objective by investing at least 80% of its assets in municipal bonds. Although the advisor intends to invest at least 65% of the fund's net assets in municipal bonds rated investment grade or in unrated municipal bonds that fund management believes are of comparable quality, it is possible that in the future the fund could invest up to 100% of its assets in "junk bonds." It will primarily invest in municipal bonds that have a maturity of five years or longer.


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Categories

Fund Company Quick Screens

BNMLX - Fund Company Quick Screens


Performance

BNMLX - Performance

Return Ranking - Trailing

Period BNMLX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -0.3% 3.8% 16.79%
1 Yr 7.4% -1.5% 23.2% 15.09%
3 Yr 4.5%* -5.1% 8.8% 3.90%
5 Yr 3.5%* -5.9% 6.3% 3.86%
10 Yr 4.9%* -8.6% 8.0% 2.66%

* Annualized

Return Ranking - Calendar

Period BNMLX Return Category Return Low Category Return High Rank in Category (%)
2019 4.4% -1.7% 83.9% 43.44%
2018 -2.5% -12.4% 0.8% 47.88%
2017 2.1% -6.0% 17.1% 18.10%
2016 -2.5% -58.1% 8.6% 73.84%
2015 0.0% -18.3% 3.0% 13.20%

Total Return Ranking - Trailing

Period BNMLX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -0.3% 3.8% 16.79%
1 Yr 7.4% -2.6% 23.2% 13.90%
3 Yr 4.5%* -5.1% 8.8% 3.86%
5 Yr 3.5%* -5.9% 6.3% 3.77%
10 Yr 4.9%* -8.6% 8.0% 2.66%

* Annualized

Total Return Ranking - Calendar

Period BNMLX Return Category Return Low Category Return High Rank in Category (%)
2019 4.4% -1.7% 83.9% 44.23%
2018 -2.5% -11.7% 6.5% 56.40%
2017 2.1% -6.0% 27.0% 29.65%
2016 -2.5% -58.1% 10.7% 76.61%
2015 0.0% -14.6% 4.2% 19.95%

NAV & Total Return History


Holdings

BNMLX - Holdings

Concentration Analysis

BNMLX Category Low Category High BNMLX % Rank
Net Assets 12.9 B 688 K 249 B 6.13%
Number of Holdings 454 1 17590 37.12%
Net Assets in Top 10 2.17 B -203 M 24.3 B 6.27%
Weighting of Top 10 17.37% 2.3% 138.1% 60.63%

Top 10 Holdings

  1. TEXAS ST 4% 2.95%
  2. iShares National Muni Bond ETF 2.78%
  3. BLACK BELT ENERGY GAS DIST ALA GAS PREPAY REV 4% 2.13%
  4. SOUTHEAST ALA GAS SUPPLY DIST GAS SUPPLY REV 4% 2.01%
  5. METROPOLITAN TRANSN AUTH N Y REV 4% 1.62%
  6. PEFA INC IOWA GAS PROJ REV 5% 1.54%
  7. PATRIOTS ENERGY GROUP FING AGY S C GAS SUPPLY REV 4% 1.24%
  8. FLORIDA ST BRD ED PUB ED 5% 1.22%
  9. METROPOLITAN TRANSN AUTH N Y REV 5% 0.95%
  10. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 0.93%

Asset Allocation

Weighting Return Low Return High BNMLX % Rank
Bonds
92.47% 80.34% 160.64% 85.71%
Cash
7.53% -60.64% 28.73% 11.83%
Stocks
0.00% -17.64% 26.58% 54.54%
Preferred Stocks
0.00% 0.00% 7.32% 58.89%
Other
0.00% -26.77% 31.28% 54.04%
Convertible Bonds
0.00% 0.00% 6.14% 72.14%

Bond Sector Breakdown

Weighting Return Low Return High BNMLX % Rank
Municipal
89.84% 0.00% 100.00% 42.04%
Cash & Equivalents
10.16% -26.49% 21.73% 5.31%
Derivative
0.00% 0.00% 24.95% 57.18%
Securitized
0.00% 0.00% 97.31% 77.59%
Corporate
0.00% 0.00% 99.29% 81.69%
Government
0.00% 0.00% 100.00% 79.94%

Bond Geographic Breakdown

Weighting Return Low Return High BNMLX % Rank
US
90.03% 67.16% 160.64% 60.46%
Non US
2.44% -27.08% 20.66% 55.58%

Expenses

BNMLX - Expenses

Operational Fees

BNMLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.46% 0.00% 209.96% 84.15%
Management Fee 0.39% 0.00% 1.25% 47.89%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

BNMLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

BNMLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BNMLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 77.00% 0.00% 2053.00% 67.36%

Distributions

BNMLX - Distributions

Dividend Yield Analysis

BNMLX Category Low Category High BNMLX % Rank
Dividend Yield 0.75% 0.00% 5.21% 32.97%

Dividend Distribution Analysis

BNMLX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

BNMLX Category Low Category High BNMLX % Rank
Net Income Ratio 3.09% 0.00% 6.30% 23.05%

Capital Gain Distribution Analysis

BNMLX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

BNMLX - Fund Manager Analysis

Managers

Walter O'Connor


Start Date

Tenure

Tenure Rank

Dec 31, 1996

23.01

23.0%

Walter O’Connor, CFA, is a Managing Director and Co-Head of the Municipal Funds team within BlackRock’s Global Fixed Income Group. He is also a member of the Municipal Bond Operating 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 B.A. degree in finance and philosophy from the University of Notre Dame in 1984.

Michael Kalinoski


Start Date

Tenure

Tenure Rank

Dec 02, 2016

3.08

3.1%

Kalinoski, director at BlackRock, joined BlackRock following the merger with Merrill Lynch Investment Managers(MLIM) in 2006. Prior to joining MLIM in 1999, he was with Strong Capital Management. Mr. Kalinoski earned a B.S. degree in accounting from Marquette University in 1992. Kalinoski holds the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 33.1 7.62 0.67