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BlackRock High Yield Municipal Fund
mutual fund
MCYHX
Payout Change
Pending
Price as of:
$9.33
+0.0
+0.0%
primary theme
High Yield Municipal Bond
share class
MCYHX (Mutual Fund)
BlackRock High Yield Municipal Fund
Payout Change
Pending
Price as of:
$9.33
+0.0
+0.0%
primary theme
High Yield Municipal Bond
share class
MCYHX (Mutual Fund)
BlackRock High Yield Municipal Fund
Payout Change
Pending
Price as of:
$9.33
+0.0
+0.0%
primary theme
High Yield Municipal Bond
share class
Name
As of 12/06/2024Price
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
Vitals
YTD Return
7.9%
1 yr return
10.1%
3 Yr Avg Return
-1.4%
5 Yr Avg Return
1.3%
Net Assets
$1.66 B
Holdings in Top 10
15.9%
52 WEEK LOW AND HIGH
$9.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.62%
SALES FEES
Front Load N/A
Deferred Load 1.00%
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 12/06/2024Price
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
MCYHX - Profile
Distributions
- YTD Total Return 7.9%
- 3 Yr Annualized Total Return -1.4%
- 5 Yr Annualized Total Return 1.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.49%
- Dividend Yield 3.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameBlackRock High Yield Municipal Fund
-
Fund Family NameBlackRock-advised Funds
-
Inception DateAug 01, 2006
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTheodore 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.
MCYHX - Performance
Return Ranking - Trailing
| Period | MCYHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.9% | -0.7% | 14.9% | 32.84% |
| 1 Yr | 10.1% | -0.1% | 17.7% | 31.84% |
| 3 Yr | -1.4%* | -8.1% | 3.4% | 82.14% |
| 5 Yr | 1.3%* | -4.7% | 4.0% | 61.54% |
| 10 Yr | 2.8%* | -0.5% | 155.7% | 56.69% |
* Annualized
Return Ranking - Calendar
| Period | MCYHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.6% | -6.2% | 7.5% | 62.38% |
| 2022 | -18.5% | -26.9% | -3.5% | 68.34% |
| 2021 | 5.5% | -1.9% | 5.6% | 2.03% |
| 2020 | 0.8% | -4.0% | 4.2% | 40.31% |
| 2019 | 5.9% | -0.7% | 9.1% | 30.00% |
Total Return Ranking - Trailing
| Period | MCYHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.9% | -0.7% | 14.9% | 32.84% |
| 1 Yr | 10.1% | -0.1% | 17.7% | 31.84% |
| 3 Yr | -1.4%* | -8.1% | 3.4% | 82.14% |
| 5 Yr | 1.3%* | -4.7% | 4.0% | 61.54% |
| 10 Yr | 2.8%* | -0.5% | 155.7% | 56.69% |
* Annualized
Total Return Ranking - Calendar
| Period | MCYHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.3% | -4.1% | 10.9% | 62.87% |
| 2022 | -16.1% | -26.9% | 4.3% | 78.89% |
| 2021 | 8.3% | -1.9% | 10.0% | 6.60% |
| 2020 | 3.4% | -2.6% | 8.2% | 55.61% |
| 2019 | 9.0% | -0.7% | 1028633.9% | 44.21% |
NAV & Total Return History
MCYHX - Holdings
Concentration Analysis
| MCYHX | Category Low | Category High | MCYHX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.66 B | 3.1 M | 15.6 B | 39.50% |
| Number of Holdings | 737 | 20 | 3325 | 35.68% |
| Net Assets in Top 10 | 264 M | -102 M | 1.96 B | 35.68% |
| Weighting of Top 10 | 15.89% | 4.6% | 98.9% | 30.15% |
Top 10 Holdings
- BlackRock Liquidity Funds: MuniCash, Institutional Shares 3.97%
- PUERTO RICO CMWLTH 2.17%
- CALIFORNIA ST INFRASTRUCTURE ECON DEV BANK REVENUE 1.86%
- PUERTO RICO CMWLTH 1.55%
- PORT BEAUMONT TX NAV DIST DOCK WHARF FAC REVENUE 1.34%
- SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE 1.30%
- BUCKEYE OH TOBACCO SETTLEMENT FING AUTH 1.06%
- BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE 0.89%
- OKLAHOMA ST DEV FIN AUTH 0.88%
- ARKANSAS ST DEV FIN AUTH INDL DEV REVENUE 0.87%
Asset Allocation
| Weighting | Return Low | Return High | MCYHX % Rank | |
|---|---|---|---|---|
| Bonds | 96.30% | 0.00% | 146.69% | 79.70% |
| Cash | 3.97% | -0.64% | 10.86% | 14.57% |
| Stocks | 0.00% | 0.00% | 99.72% | 79.70% |
| Preferred Stocks | 0.00% | -47.61% | 0.00% | 73.37% |
| Other | 0.00% | -5.67% | 5.07% | 75.38% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 72.86% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MCYHX % Rank | |
|---|---|---|---|---|
| Municipal | 93.42% | 50.68% | 100.00% | 85.93% |
| Cash & Equivalents | 3.97% | 0.00% | 10.86% | 5.53% |
| Derivative | 0.00% | -7.70% | 2.16% | 72.36% |
| Securitized | 0.00% | 0.00% | 22.44% | 75.38% |
| Corporate | 0.00% | 0.00% | 2.83% | 83.92% |
| Government | 0.00% | 0.00% | 0.09% | 75.88% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MCYHX % Rank | |
|---|---|---|---|---|
| US | 96.30% | 0.00% | 139.84% | 76.38% |
| Non US | 0.00% | 0.00% | 13.35% | 76.88% |
MCYHX - Expenses
Operational Fees
| MCYHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.62% | 0.22% | 3.44% | 23.76% |
| Management Fee | 0.46% | 0.00% | 1.41% | 37.13% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 91.59% |
| Administrative Fee | N/A | 0.02% | 0.35% | N/A |
Sales Fees
| MCYHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 4.50% | N/A |
| Deferred Load | 1.00% | 1.00% | 4.00% | 66.67% |
Trading Fees
| MCYHX 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.
| MCYHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 23.00% | 2.00% | 121.00% | 62.03% |
MCYHX - Distributions
Dividend Yield Analysis
| MCYHX | Category Low | Category High | MCYHX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.18% | 0.00% | 5.94% | 78.22% |
Dividend Distribution Analysis
| MCYHX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| MCYHX | Category Low | Category High | MCYHX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.49% | 1.11% | 5.44% | 80.20% |
Capital Gain Distribution Analysis
| MCYHX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.025 | OrdinaryDividend |
| Oct 31, 2024 | $0.024 | OrdinaryDividend |
| Sep 30, 2024 | $0.025 | OrdinaryDividend |
| Aug 30, 2024 | $0.025 | OrdinaryDividend |
| Jul 31, 2024 | $0.025 | OrdinaryDividend |
| Apr 30, 2024 | $0.024 | OrdinaryDividend |
| Mar 28, 2024 | $0.023 | OrdinaryDividend |
| Feb 29, 2024 | $0.024 | OrdinaryDividend |
| Jan 31, 2024 | $0.024 | OrdinaryDividend |
| Dec 29, 2023 | $0.024 | OrdinaryDividend |
| Nov 30, 2023 | $0.024 | OrdinaryDividend |
| Oct 31, 2023 | $0.024 | OrdinaryDividend |
| Sep 29, 2023 | $0.024 | OrdinaryDividend |
| Aug 31, 2023 | $0.024 | OrdinaryDividend |
| Jul 31, 2023 | $0.023 | OrdinaryDividend |
| Jun 30, 2023 | $0.023 | OrdinaryDividend |
| May 31, 2023 | $0.023 | OrdinaryDividend |
| Apr 28, 2023 | $0.022 | OrdinaryDividend |
| Mar 31, 2023 | $0.023 | OrdinaryDividend |
| Feb 28, 2023 | $0.024 | OrdinaryDividend |
| Jan 31, 2023 | $0.023 | OrdinaryDividend |
| Dec 30, 2022 | $0.022 | OrdinaryDividend |
| Nov 30, 2022 | $0.023 | OrdinaryDividend |
| Oct 31, 2022 | $0.022 | OrdinaryDividend |
| Sep 30, 2022 | $0.022 | OrdinaryDividend |
| Aug 31, 2022 | $0.020 | OrdinaryDividend |
| Jul 29, 2022 | $0.021 | OrdinaryDividend |
| Jun 30, 2022 | $0.021 | OrdinaryDividend |
| May 31, 2022 | $0.021 | OrdinaryDividend |
| Apr 29, 2022 | $0.021 | OrdinaryDividend |
| Mar 31, 2022 | $0.019 | OrdinaryDividend |
| Feb 28, 2022 | $0.020 | OrdinaryDividend |
| Jan 31, 2022 | $0.017 | OrdinaryDividend |
| Dec 31, 2021 | $0.016 | OrdinaryDividend |
| Dec 07, 2021 | $0.001 | CapitalGainShortTerm |
| Dec 07, 2021 | $0.001 | OrdinaryDividend |
| Dec 07, 2021 | $0.029 | CapitalGainLongTerm |
| Nov 30, 2021 | $0.017 | OrdinaryDividend |
| Oct 29, 2021 | $0.018 | OrdinaryDividend |
| Sep 30, 2021 | $0.017 | OrdinaryDividend |
| Aug 31, 2021 | $0.016 | OrdinaryDividend |
| Jul 30, 2021 | $0.017 | OrdinaryDividend |
| Jun 30, 2021 | $0.018 | OrdinaryDividend |
| May 28, 2021 | $0.018 | OrdinaryDividend |
| Apr 30, 2021 | $0.019 | OrdinaryDividend |
| Mar 31, 2021 | $0.020 | OrdinaryDividend |
| Feb 26, 2021 | $0.018 | OrdinaryDividend |
| Jan 29, 2021 | $0.021 | OrdinaryDividend |
| Dec 31, 2020 | $0.022 | OrdinaryDividend |
| Dec 08, 2020 | $0.002 | OrdinaryDividend |
| Nov 30, 2020 | $0.022 | OrdinaryDividend |
| Oct 30, 2020 | $0.022 | OrdinaryDividend |
| Sep 30, 2020 | $0.023 | OrdinaryDividend |
| Aug 31, 2020 | $0.021 | OrdinaryDividend |
| Jul 31, 2020 | $0.021 | OrdinaryDividend |
| May 29, 2020 | $0.023 | OrdinaryDividend |
| Apr 30, 2020 | $0.023 | OrdinaryDividend |
| Mar 31, 2020 | $0.023 | OrdinaryDividend |
| Feb 28, 2020 | $0.020 | OrdinaryDividend |
| Dec 31, 2019 | $0.023 | OrdinaryDividend |
| Dec 10, 2019 | $0.000 | CapitalGainShortTerm |
| Nov 29, 2019 | $0.022 | OrdinaryDividend |
| Oct 31, 2019 | $0.022 | OrdinaryDividend |
| Sep 30, 2019 | $0.022 | OrdinaryDividend |
| Aug 30, 2019 | $0.022 | OrdinaryDividend |
| Jul 31, 2019 | $0.022 | OrdinaryDividend |
| Dec 07, 2018 | $0.001 | CapitalGainShortTerm |
| Dec 08, 2017 | $0.003 | CapitalGainShortTerm |
| Dec 09, 2016 | $0.001 | CapitalGainShortTerm |
| Dec 04, 2015 | $0.003 | CapitalGainShortTerm |
| Dec 05, 2014 | $0.002 | CapitalGainShortTerm |
| Dec 17, 2013 | $0.005 | CapitalGainShortTerm |
| Dec 19, 2012 | $0.001 | CapitalGainShortTerm |
| Dec 19, 2011 | $0.000 | CapitalGainShortTerm |
| Dec 20, 2010 | $0.004 | CapitalGainShortTerm |
| Dec 18, 2009 | $0.005 | CapitalGainShortTerm |
| Dec 20, 2007 | $0.017 | CapitalGainShortTerm |
| Dec 20, 2007 | $0.003 | CapitalGainLongTerm |
| Dec 19, 2006 | $0.002 | CapitalGainShortTerm |
MCYHX - 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 | 7.58 | 2.52 |
