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Name

As of 11/19/2024

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 High Yield Municipal Fund

MDYHX | Fund

$9.18

$1.65 B

3.95%

$0.36

0.84%

Vitals

YTD Return

6.8%

1 yr return

13.4%

3 Yr Avg Return

-1.1%

5 Yr Avg Return

1.7%

Net Assets

$1.65 B

Holdings in Top 10

17.1%

52 WEEK LOW AND HIGH

$9.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.84%

SALES FEES

Front Load 4.25%

Deferred Load N/A

TRADING FEES

Turnover 23.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/19/2024

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 High Yield Municipal Fund

MDYHX | Fund

$9.18

$1.65 B

3.95%

$0.36

0.84%

MDYHX - Profile

Distributions

  • YTD Total Return 6.8%
  • 3 Yr Annualized Total Return -1.1%
  • 5 Yr Annualized Total Return 1.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.20%
DIVIDENDS
  • Dividend Yield 4.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BlackRock High Yield Municipal Fund
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Aug 01, 2006
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Theodore Jaeckel

Fund Description

Under normal circumstances, the High Yield 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 High Yield Fund may invest in municipal bonds rated in any rating category or in unrated municipal bonds. Although the Fund may invest in municipal bonds in any rating category, Fund management presently intends to invest at least 65% of the Fund’s net assets in medium- to low-quality bonds as rated by at least one independent rating agency (BBB or lower by S&P Global Ratings (“S&P”) or Fitch Ratings, Inc. (“Fitch”) or Baa or lower by Moody’s Investors Service, Inc. (“Moody’s”)), or if unrated, judged to be of comparable quality by BlackRock. Obligations rated below BBB or Baa are commonly known as “junk bonds.” It is possible that the Fund could invest up to 100% of its assets in “junk bonds.”
The Fund may also invest up to 10% of its assets in municipal bonds that are distressed securities. Distressed securities are securities that are the subject of bankruptcy proceedings or otherwise in default as to the repayment of principal and/or payment of interest at the time of acquisition or are rated in the lowest rating categories by at least one independent rating agency (CC or lower by S&P or Fitch or Ca or lower by Moody’s), or if unrated, judged to be of comparable quality by BlackRock. The Fund will primarily invest in municipal bonds that have a maturity of five years or longer.
Read More

MDYHX - Performance

Return Ranking - Trailing

Period MDYHX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.8% -2.2% 12.5% 17.16%
1 Yr 13.4% 0.9% 19.5% 12.25%
3 Yr -1.1%* -8.8% 3.0% 62.19%
5 Yr 1.7%* -5.0% 3.7% 22.34%
10 Yr 3.5%* -0.4% 155.6% 20.16%

* Annualized

Return Ranking - Calendar

Period MDYHX Return Category Return Low Category Return High Rank in Category (%)
2023 2.6% -6.2% 7.5% 60.29%
2022 -18.4% -26.9% -3.5% 67.16%
2021 5.6% -1.9% 5.6% 1.01%
2020 0.8% -4.0% 4.2% 39.59%
2019 5.8% -0.7% 9.1% 31.41%

Total Return Ranking - Trailing

Period MDYHX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.8% -2.2% 12.5% 17.16%
1 Yr 13.4% 0.9% 19.5% 12.25%
3 Yr -1.1%* -8.8% 3.0% 62.19%
5 Yr 1.7%* -5.0% 3.7% 22.34%
10 Yr 3.5%* -0.4% 155.6% 20.16%

* Annualized

Total Return Ranking - Calendar

Period MDYHX Return Category Return Low Category Return High Rank in Category (%)
2023 7.2% -4.1% 10.9% 45.10%
2022 -15.3% -26.9% 4.3% 72.14%
2021 9.2% -1.9% 10.0% 3.54%
2020 3.5% -2.6% 8.2% 53.30%
2019 9.7% -0.7% 1028633.9% 25.13%

NAV & Total Return History

MDYHX - Holdings

Concentration Analysis

MDYHX Category Low Category High MDYHX % Rank
Net Assets 1.65 B 9.79 K 15.6 B 38.12%
Number of Holdings 703 1 3325 34.33%
Net Assets in Top 10 282 M -102 M 3.51 B 32.84%
Weighting of Top 10 17.08% 4.6% 98.8% 28.00%

Top 10 Holdings

  1. BlackRock Liquidity Funds: MuniCash, Institutional Shares 5.78%
  2. City of San Antonio TX 1.80%
  3. PUERTO RICO CMWLTH 1.67%
  4. PORT BEAUMONT TX NAV DIST DOCK WHARF FAC REVENUE 1.31%
  5. SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE 1.29%
  6. PUERTO RICO CMWLTH 1.23%
  7. BUCKEYE OH TOBACCO SETTLEMENT FING AUTH 1.04%
  8. ARKANSAS ST DEV FIN AUTH INDL DEV REVENUE 1.02%
  9. FLORIDA ST DEV FIN CORP 1.01%
  10. OKLAHOMA ST DEV FIN AUTH 0.93%

Asset Allocation

Weighting Return Low Return High MDYHX % Rank
Bonds 		92.75% 0.00% 146.69% 93.63%
Cash 		7.58% -0.64% 100.00% 2.49%
Stocks 		0.00% 0.00% 99.62% 51.96%
Preferred Stocks 		0.00% -47.61% 0.00% 30.85%
Convertible Bonds 		0.00% 0.00% 0.00% 24.88%
Other 		-0.01% -5.59% 5.07% 92.54%

Bond Sector Breakdown

Weighting Return Low Return High MDYHX % Rank
Municipal 		93.42% 0.00% 100.00% 84.58%
Cash & Equivalents 		7.58% 0.00% 100.00% 2.49%
Securitized 		0.00% 0.00% 22.44% 30.35%
Corporate 		0.00% 0.00% 2.83% 65.17%
Government 		0.00% 0.00% 0.09% 29.35%
Derivative 		-0.01% -7.53% 2.16% 92.54%

Bond Geographic Breakdown

Weighting Return Low Return High MDYHX % Rank
US 		92.75% 0.00% 139.84% 91.54%
Non US 		0.00% 0.00% 13.35% 30.35%

MDYHX - Expenses

Operational Fees

MDYHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.84% 0.22% 3.44% 57.64%
Management Fee 0.46% 0.00% 1.41% 35.78%
12b-1 Fee 0.25% 0.00% 1.00% 38.53%
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

MDYHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.25% 1.00% 4.50% 27.91%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

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

MDYHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 23.00% 2.00% 121.00% 61.38%

MDYHX - Distributions

Dividend Yield Analysis

MDYHX Category Low Category High MDYHX % Rank
Dividend Yield 3.95% 0.00% 5.94% 55.88%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MDYHX Category Low Category High MDYHX % Rank
Net Income Ratio 3.20% 1.11% 5.44% 50.00%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MDYHX - Fund Manager Analysis

Managers

Theodore Jaeckel

Start Date

Tenure

Tenure Rank

Aug 01, 2006

15.84

15.8%

Jaeckel Jr. is managing director at BlackRock. He joined BlackRock following the merger with Merrill Lynch Investment Managers (MLIM) in 2006. He is a member of BlackRock's Fixed Income Portfolio Management Group. Prior to joining MLIM in 1990, he was a municipal bond trader with Chemical Bank. Jaeckel holds the Chartered Financial Analyst designation.

Walter O'Connor

Start Date

Tenure

Tenure Rank

Dec 06, 2006

15.49

15.5%

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 Perilli

Start Date

Tenure

Tenure Rank

Feb 01, 2020

2.33

2.3%

Jointly and primarily 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. Vice President of BlackRock, Inc. since 2017;Associate of BlackRock, Inc. since 2011.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 21.43 7.55 2.52

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