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Name

As of 12/19/2024

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 Strategic Municipal Opportunities Fund of BlackRock Municipal Series Trust

MEMTX | Fund

$10.46

$3.96 B

3.50%

$0.37

0.93%

Vitals

YTD Return

2.5%

1 yr return

2.7%

3 Yr Avg Return

-1.6%

5 Yr Avg Return

0.1%

Net Assets

$3.96 B

Holdings in Top 10

13.0%

52 WEEK LOW AND HIGH

$10.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.93%

SALES FEES

Front Load 4.25%

Deferred Load N/A

TRADING FEES

Turnover 100.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/19/2024

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 Strategic Municipal Opportunities Fund of BlackRock Municipal Series Trust

MEMTX | Fund

$10.46

$3.96 B

3.50%

$0.37

0.93%

MEMTX - Profile

Distributions

  • YTD Total Return 2.5%
  • 3 Yr Annualized Total Return -1.6%
  • 5 Yr Annualized Total Return 0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.10%
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BlackRock Strategic Municipal Opportunities Fund of BlackRock Municipal Series Trust
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Oct 03, 2006
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Theodore Jaeckel

Fund Description

Under normal circumstances, the Fund will invest at least 80% of its assets in municipal bonds. Municipal bonds may be obligations of a variety of issuers including governmental entities or other qualifying issuers, the payments from which, in the opinion of bond counsel to the issuer, are excludable from gross income for Federal income tax purposes (although certain investors may be subject to a Federal alternative minimum tax on dividends attributable to the Fund’s investments in private activity bonds). Issuers may be states, territories and possessions of the United States, including the District of Columbia, and their political subdivisions, agencies and instrumentalities. Municipal bonds also include short-term tax-exempt obligations like municipal notes, variable rate demand obligations, private activity bonds and insured municipal bonds. The Fund may invest in both fixed rate and variable rate obligations.
Under normal circumstances, the Fund seeks to maintain an average portfolio duration of zero to ten years. The Fund may invest in bonds of any maturity. Duration is a mathematical calculation of the average life of a bond (or bonds in a bond fund) that serves as a useful measure of its price risk. Each year of duration represents an expected 1% change in the net asset value of a bond fund for every 1% immediate change in interest rates. For example, if a bond fund has an average duration of ten years, its net asset value will fall about 10% when interest rates rise by one percentage point. Conversely, the bond fund’s net asset value will rise about 10% when interest rates fall by one percentage point. Duration, which measures price sensitivity to interest rate changes, is not necessarily equal to average maturity.
The Fund is permitted to engage in transactions in certain derivatives, such as financial futures contracts and options thereon, for hedging purposes (including anticipatory hedges) or to seek to enhance returns. The Fund may also invest in other derivatives, such as indexed and inverse floating rate obligations and swap agreements, including credit default swap agreements, for hedging purposes (including anticipatory hedges) or to enhance income. Derivatives are financial instruments whose value is derived from another security or an index. The Fund may use derivative instruments to hedge its investments or to seek to enhance returns. Derivatives allow the Fund to increase or decrease its risk exposure more quickly and efficiently than other types of instruments.
The Fund may invest up to 20% of its net assets in securities that are not municipal securities (including, but not limited to, taxable municipal bonds, U.S. Treasury and Government agency issues, and investment grade corporate bonds).
The Fund may invest up to 50% of its net assets in non-investment grade bonds (commonly called “high yield” or “junk bonds”). Non-investment grade bonds are bonds that, at the time of acquisition, are rated in the lower rating categories of the major rating agencies (BB or lower by Standard & Poor’s or Fitch Ratings, Inc. or Ba or lower by Moody’s Investor Service, Inc.) or are determined by Fund management to be of similar quality. Split rated bonds will be considered to have the higher credit rating. Split rated bonds are bonds that receive different ratings from two or more rating agencies.
The Fund may leverage its assets through the use of proceeds received through tender option bond transactions. In a tender option bond transaction, the Fund transfers municipal bonds or other municipal securities into a special purpose entity (a “TOB Trust”). A TOB Trust typically issues two classes of beneficial interests: short-term floating rate interests (“TOB Floaters”), which are sold to third party investors, and residual inverse floating rate interests (“TOB Residuals”), which are generally issued to the Fund. The Fund may invest in TOB Residuals and may also invest in TOB Floaters. The Fund will look through to the underlying municipal bond held by a TOB Trust for purposes of the Fund’s 80% policy.
The Fund may also buy when-issued securities and participate in delayed delivery transactions.
The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
Read More

MEMTX - Performance

Return Ranking - Trailing

Period MEMTX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -6.1% 36.1% 5.51%
1 Yr 2.7% -6.0% 38.2% 8.60%
3 Yr -1.6%* -11.5% 5.9% 74.18%
5 Yr 0.1%* -7.2% 1103.7% 74.07%
10 Yr 1.8%* -1.1% 248.9% 31.63%

* Annualized

Return Ranking - Calendar

Period MEMTX Return Category Return Low Category Return High Rank in Category (%)
2023 2.0% -1.4% 41.0% 73.60%
2022 -13.8% -39.7% 0.3% 80.41%
2021 3.8% -5.6% 6.9% 0.89%
2020 -1.9% -2.6% 310.0% 99.37%
2019 3.8% 0.0% 26.0% 49.10%

Total Return Ranking - Trailing

Period MEMTX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -6.1% 36.1% 5.51%
1 Yr 2.7% -6.0% 38.2% 8.60%
3 Yr -1.6%* -11.5% 5.9% 74.18%
5 Yr 0.1%* -7.2% 1103.7% 74.07%
10 Yr 1.8%* -1.1% 248.9% 31.63%

* Annualized

Total Return Ranking - Calendar

Period MEMTX Return Category Return Low Category Return High Rank in Category (%)
2023 5.2% -1.3% 41.0% 62.90%
2022 -11.6% -39.7% 1.1% 81.71%
2021 5.9% -4.8% 23761504.0% 2.20%
2020 0.3% -1.5% 17057.9% 98.53%
2019 5.4% 0.2% 3514.6% 75.95%

NAV & Total Return History

MEMTX - Holdings

Concentration Analysis

MEMTX Category Low Category High MEMTX % Rank
Net Assets 3.96 B 3.22 M 71.9 B 9.34%
Number of Holdings 623 4 13418 20.08%
Net Assets in Top 10 517 M -317 M 3.09 B 5.51%
Weighting of Top 10 13.05% 1.8% 100.3% 70.97%

Top 10 Holdings

  1. BlackRock Liquidity Funds: MuniCash, Institutional Shares 3.93%
  2. ENERGY S E AL A COOPERATIVE DIST ENERGY SPLY REVENUE 1.51%
  3. PUERTO RICO CMWLTH 1.25%
  4. SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE 0.99%
  5. CALIFORNIA ST INFRASTRUCTURE ECON DEV BANK REVENUE 0.95%
  6. PREPA FWD 7.125PC 2059 0.94%
  7. BROWARD CNTY FL CONVENTION CTR HOTEL REVENUE 0.92%
  8. ENERGY S E AL A COOPERATIVE DIST ENERGY SPLY REVENUE 0.86%
  9. BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE 0.85%
  10. Grand Canyon University 0.84%

Asset Allocation

Weighting Return Low Return High MEMTX % Rank
Bonds 		97.97% 0.00% 150.86% 68.26%
Cash 		4.54% -50.86% 44.62% 9.94%
Stocks 		0.51% 0.00% 99.77% 5.17%
Preferred Stocks 		0.00% 0.00% 0.07% 55.47%
Other 		0.00% -3.69% 53.54% 58.56%
Convertible Bonds 		0.00% 0.00% 0.93% 55.16%

Stock Sector Breakdown

Weighting Return Low Return High MEMTX % Rank
Utilities 		0.00% 0.00% 0.00% 58.93%
Technology 		0.00% 0.00% 0.00% 56.78%
Real Estate 		0.00% 0.00% 0.00% 57.85%
Industrials 		0.00% 0.00% 100.00% 59.06%
Healthcare 		0.00% 0.00% 0.00% 57.45%
Financial Services 		0.00% 0.00% 0.00% 63.36%
Energy 		0.00% 0.00% 0.00% 68.32%
Communication Services 		0.00% 0.00% 100.00% 59.19%
Consumer Defense 		0.00% 0.00% 0.00% 57.05%
Consumer Cyclical 		0.00% 0.00% 100.00% 59.73%
Basic Materials 		0.00% 0.00% 0.00% 57.99%

Stock Geographic Breakdown

Weighting Return Low Return High MEMTX % Rank
US 		0.51% 0.00% 99.77% 5.17%
Non US 		0.00% 0.00% 10.22% 55.81%

Bond Sector Breakdown

Weighting Return Low Return High MEMTX % Rank
Municipal 		92.96% 44.39% 100.00% 88.33%
Cash & Equivalents 		4.54% 0.00% 44.41% 8.26%
Corporate 		2.46% 0.00% 9.41% 0.88%
Derivative 		0.00% -3.69% 53.54% 57.56%
Securitized 		0.00% 0.00% 5.93% 56.04%
Government 		0.00% 0.00% 52.02% 58.93%

Bond Geographic Breakdown

Weighting Return Low Return High MEMTX % Rank
US 		97.97% 0.00% 142.23% 65.82%
Non US 		0.00% 0.00% 23.89% 57.42%

MEMTX - Expenses

Operational Fees

MEMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.93% 0.01% 8.02% 32.80%
Management Fee 0.52% 0.00% 1.20% 89.87%
12b-1 Fee 0.25% 0.00% 1.00% 50.32%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

MEMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.25% 0.50% 4.75% 18.39%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

MEMTX 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.

MEMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 100.00% 0.00% 283.00% 98.83%

MEMTX - Distributions

Dividend Yield Analysis

MEMTX Category Low Category High MEMTX % Rank
Dividend Yield 3.50% 0.00% 14.51% 43.36%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MEMTX Category Low Category High MEMTX % Rank
Net Income Ratio 2.10% -0.53% 5.33% 41.54%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MEMTX - Fund Manager Analysis

Managers

Theodore Jaeckel

Start Date

Tenure

Tenure Rank

Dec 31, 2006

15.42

15.4%

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.

Peter Hayes

Start Date

Tenure

Tenure Rank

Jan 27, 2014

8.35

8.4%

Hayes is a managing director of BlackRock, Inc. Prior to joining BlackRock in 2006, he was a managing director of MLIM from 2000 to 2006 and was a first vice president of MLIM from 1997 to 2000. He has been a portfolio manager with BlackRock or MLIM since 1987.

Michael Kalinoski

Start Date

Tenure

Tenure Rank

Jan 27, 2014

8.35

8.4%

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.

James Pruskowski

Start Date

Tenure

Tenure Rank

Jan 27, 2014

8.35

8.4%

Pruskowski is a portfolio manager and Managing Director of BlackRock, Inc. since 2006. , his employer since 2000.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58

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