Morningstar

BlackRock National Municipal Fund Institutional Shares MANLX

Morningstar Medalist Rating
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Medalist Rating as of See BlackRock Investment Hub
  • NAV / 1-Day Return $9.69  /  +0.10 %
  • Fund Size $5.2B
  • Adjusted Expense Ratio 0.440%
  • Net Expense Ratio 0.490%
  • Fee Level: Distribution Below Average
  • Share Class Type Institutional
  • Morningstar Category Muni National Interm
  • Fixed-Income Style Box (Funds) Medium/Moderate
  • Minimum Initial Investment $2M
  • Investment Status Open
  • TTM Yield 4.07%
  • Average Effective Duration 6.41 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis MANLX

Will MANLX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable MANLX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the MANLX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of MANLX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Team turnover puts this strategy to the test.

Associate Director Tom Murphy

Tom Murphy

Associate Director

Summary

BlackRock National Municipal’s team has faced significant changes and departures, including the retirement of the strategy’s longest-tenured portfolio manager. The People rating has been downgraded to Average from Above Average.

by Tom Murphy
Rated on Published on

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Portfolio Holdings MANLX

More MANLX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 11.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

BlackRock Liquidity MuniCash Instl

3.41 179M
Cash and Equivalents

ENERGY SOUTHEAST ALA COOP DIST ENERGY SUPPLY REV

1.73 90M
municipal

MAIN STR NAT GAS INC GA GAS SUPPLY REV

1.71 90M
municipal

PATRIOTS ENERGY GROUP FING AGY S C GAS SUPPLY REV

1.66 87M
municipal

SOUTHEAST ENERGY AUTH COMMODITY SUPPLY REV ALA

1.16 61M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV

1.04 55M
municipal

NEW JERSEY ST TPK AUTH TPK REV

0.97 51M
municipal

iShares National Muni Bond ETF

0.97 51M
—

PATRIOTS ENERGY GROUP FING AGY S C GAS SUPPLY REV

0.97 51M
municipal

MAIN STR NAT GAS INC GA GAS SUPPLY REV

0.85 45M
municipal

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