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Morningstar

BlackRock High Yield Municipal Instl MAYHX

Morningstar Analyst Rating
Analyst rating as of | See BlackRock Investment Hub
  • NAV / 1-Day Return 9.04  /  0.33 %
  • Total Assets 1.9 Bil
  • Adj. Expense Ratio
    0.590%
  • Expense Ratio 0.600%
  • Distribution Fee Level Below Average
  • Share Class Type Institutional
  • Category High Yield Muni
  • Credit Quality / Interest Rate Sensitivity Medium / Extensive
  • Min. Initial Investment 2,000,000
  • Status Open
  • TTM Yield 3.84%
  • Effective Duration 9.63 years

USD | NAV as of Feb 07, 2023 | 1-Day Return as of Feb 07, 2023, 11:20 PM GMT+00:00

Morningstar’s Analysis MAYHX

Will MAYHX outperform in 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 MAYHX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the MAYHX 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 MAYHX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Even with leadership shifts, this remains a well-resourced approach to the high-yield muni market.

Associate Director

Summary

| by Elizabeth Foos

Managed by a well-resourced team that follows a comprehensive, research-based approach to building this portfolio, BlackRock High Yield Municipal sports many appealing characteristics. Yet its appetite for risk, combined with a new leadership configuration, gives reason to pause and prompts a downgrade of its Morningstar Analyst Rating to Bronze from Silver for all but its most expensive C share, which remains Neutral.

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