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Name

As of 11/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BlackRock Short-Term Municipal Fund

MDLMX | Fund

$9.91

$470 M

3.34%

$0.33

0.53%

Vitals

YTD Return

3.1%

1 yr return

4.8%

3 Yr Avg Return

1.5%

5 Yr Avg Return

1.1%

Net Assets

$470 M

Holdings in Top 10

27.7%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.53%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 41.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

$100

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BlackRock Short-Term Municipal Fund

MDLMX | Fund

$9.91

$470 M

3.34%

$0.33

0.53%

MDLMX - Profile

Distributions

  • YTD Total Return 3.1%
  • 3 Yr Annualized Total Return 1.5%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.57%
DIVIDENDS
  • Dividend Yield 3.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BlackRock Short-Term Municipal Fund
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Jun 30, 1995
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kevin Schiatta

Fund Description

Under normal circumstances, the Short-Term Fund seeks to achieve its objective by investing at least 80% of its assets in municipal bonds. For the purposes of the foregoing 80% policy, “assets” are the Fund’s net assets, plus the amount of any borrowings for investment purposes. The Fund’s investments in derivatives will be counted toward the Fund’s 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market risk factors associated with such securities. Municipal bonds include debt obligations issued by or on behalf of a governmental entity or other qualifying issuer that pay interest that is, in the opinion of bond counsel to the issuer, generally excludable from gross income for Federal income tax purposes (except that the interest may be includable in taxable income for purposes of the Federal alternative minimum tax). Municipal bonds may be obligations of a variety of issuers, including governmental entities or other qualifying issuers. Issuers may be states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities. Municipal bonds also include short-term tax-exempt obligations like municipal notes and variable rate demand obligations.
The Short-Term Fund invests primarily in investment grade municipal bonds or municipal notes, including variable rate demand obligations. Investment grade bonds are securities which are rated in the four highest categories by at least one of the major rating agencies or determined by the management team to be of similar quality. Generally, the higher the rating of a bond, the higher the likelihood that interest and principal payments will be made on time. Municipal notes are shorter-term municipal debt obligations that pay interest that is, in the opinion of bond counsel to the issuer, generally excludable from gross income for Federal income tax purposes (except that the interest may be includable in taxable income for purposes of the Federal alternative minimum tax) and that have a maturity that is generally one year or less.
The Fund will maintain a dollar weighted maturity of no more than three years. Because of their shorter maturities, the Fund’s investments will not usually be as sensitive to changes in prevailing interest rates as are long-term municipal bonds. Fluctuations in interest rates on short-term municipal bonds may, however, vary more widely from time to time than those on long-term municipal bonds.
Read More

MDLMX - Performance

Return Ranking - Trailing

Period MDLMX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.1% -4.6% 33.0% 18.39%
1 Yr 4.8% -0.1% 38.0% 77.48%
3 Yr 1.5%* -10.8% 3.4% 3.73%
5 Yr 1.1%* -6.7% 1104.0% 28.75%
10 Yr 0.9%* -0.9% 248.8% 85.16%

* Annualized

Return Ranking - Calendar

Period MDLMX Return Category Return Low Category Return High Rank in Category (%)
2023 1.5% -1.4% 41.0% 86.37%
2022 -3.8% -39.7% 0.3% 4.20%
2021 -0.6% -5.6% 6.9% 52.93%
2020 0.2% -2.6% 310.0% 94.44%
2019 0.8% 0.0% 26.0% 97.50%

Total Return Ranking - Trailing

Period MDLMX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.1% -4.6% 33.0% 18.39%
1 Yr 4.8% -0.1% 38.0% 77.48%
3 Yr 1.5%* -10.8% 3.4% 3.73%
5 Yr 1.1%* -6.7% 1104.0% 28.75%
10 Yr 0.9%* -0.9% 248.8% 85.16%

* Annualized

Total Return Ranking - Calendar

Period MDLMX Return Category Return Low Category Return High Rank in Category (%)
2023 4.6% -1.3% 41.0% 74.01%
2022 -2.7% -39.7% 1.1% 4.74%
2021 -0.1% -4.8% 23761504.0% 89.70%
2020 1.2% -1.5% 17057.9% 95.27%
2019 2.4% 0.2% 3514.6% 97.07%

NAV & Total Return History

MDLMX - Holdings

Concentration Analysis

MDLMX Category Low Category High MDLMX % Rank
Net Assets 470 M 3.22 M 71.9 B 49.13%
Number of Holdings 172 4 13418 67.89%
Net Assets in Top 10 130 M -317 M 3.09 B 34.84%
Weighting of Top 10 27.65% 1.8% 100.3% 15.93%

Top 10 Holdings

  1. SAINT JAMES PARISH LA REVENUE 5.26%
  2. BURLINGTON KS ENVRN IMPT REVENUE 3.83%
  3. LAKE CHARLES LA HARBOR TERMINAL DIST 2.84%
  4. SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE 2.41%
  5. NEW JERSEY ST ECON DEV AUTH REVENUE 2.34%
  6. MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE 2.25%
  7. SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE 2.23%
  8. WISCONSIN ST 2.22%
  9. LOUISIANA ST PUBLIC FACS AUTHSOL WST DISP FAC REVENUE 2.14%
  10. Dallas Fort Worth International Airport 2.13%

Asset Allocation

Weighting Return Low Return High MDLMX % Rank
Bonds 		95.29% 0.00% 150.86% 89.48%
Cash 		4.71% -50.86% 44.62% 8.79%
Stocks 		0.00% 0.00% 99.78% 38.42%
Preferred Stocks 		0.00% 0.00% 0.07% 28.11%
Other 		0.00% -3.69% 51.88% 38.11%
Convertible Bonds 		0.00% 0.00% 0.93% 26.76%

Bond Sector Breakdown

Weighting Return Low Return High MDLMX % Rank
Municipal 		95.20% 44.39% 100.00% 80.80%
Cash & Equivalents 		4.28% 0.00% 44.41% 8.19%
Derivative 		0.00% -3.69% 51.88% 46.77%
Securitized 		0.00% 0.00% 5.93% 44.28%
Corporate 		0.00% 0.00% 9.41% 53.04%
Government 		0.00% 0.00% 52.02% 33.24%

Bond Geographic Breakdown

Weighting Return Low Return High MDLMX % Rank
US 		95.29% 0.00% 142.23% 87.61%
Non US 		0.00% 0.00% 23.89% 32.78%

MDLMX - Expenses

Operational Fees

MDLMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.53% 0.01% 8.02% 79.07%
Management Fee 0.29% 0.00% 1.20% 14.25%
12b-1 Fee 0.10% 0.00% 1.00% 20.53%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

MDLMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% 97.06%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

MDLMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

MDLMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 41.00% 0.00% 283.00% 88.16%

MDLMX - Distributions

Dividend Yield Analysis

MDLMX Category Low Category High MDLMX % Rank
Dividend Yield 3.34% 0.00% 14.51% 38.48%

Dividend Distribution Analysis

MDLMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

MDLMX Category Low Category High MDLMX % Rank
Net Income Ratio 0.57% -0.53% 5.33% 95.48%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MDLMX - Fund Manager Analysis

Managers

Kevin Schiatta

Start Date

Tenure

Tenure Rank

Oct 28, 2016

5.59

5.6%

Kevin A. Schiatta, CFA .Director of BlackRock, Inc. since 2006. Responsible for the day-to-day management of the Fund’s portfolio including setting the Fund’s overall investment strategy and overseeing the management of the Fund. Schiatta has been a director of MLIM since 2000 and was a vice president thereof from 1994 to 2000.

Kristi Manidis

Start Date

Tenure

Tenure Rank

Sep 03, 2019

2.74

2.7%

Christian Romaglino

Start Date

Tenure

Tenure Rank

Jun 25, 2021

0.93

0.9%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58

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