(opens in new tab), The 6 Safest Vanguard Funds to Own in a Bear Market. He is co-portfolio manager for the Technology equity portfolios and responsible for coverage of the technology sector. Visit our corporate site. There is no assurance that a fund will meet its investment objective. BlackRock MuniHoldings New York Quality Fund, Inc. BlackRock MuniYield New York Quality Fund, Inc. BlackRock MuniYield Quality Fund II, Inc. BlackRock MuniYield Quality Fund III, Inc. BlackRock MuniHoldings Quality Fund II, Inc. Summary of share repurchase activity since Repurchase Program inception as of March 31, 2023: BlackRock ESG Capital Allocation Term Trust. The market changed last year, however, as the Fed's pivot to a more hawkish monetary policy drove investors out of flashy growth stocks and into more staid value names. BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the quarter ended March 31, 2023. (opens in new tab). The fund manages this risk by holding a first-lien position in 80% of the portfolio. BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the "Closed-end Funds" section of www.blackrock.com as well as certain other material information as necessary from time to time. The fixed amounts distributed per share are subject to change at the discretion of each Fund's Board of Directors/Trustees. Discover the value of a managed distribution plan for closed-end funds. As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. Gear advertisements and other marketing efforts towards your interests. March 31, 2023. Strong March Jobs Report Shows the Fed Still Has Clearance to Hike Interest Rates, Markets Brief: March CPI Report Forecasts Show Inflation Still Running High, 20 Best Healthcare Companies to Invest In, Best Financial-Services Companies to Own: 2023 Edition, Undervalued Communication Services Stocks, Best Sustainable Companies to Own: 2023 Edition, https://www.businesswire.com/news/home/20230411005761/en/. * Includes 1.50% in management fees, 0.28% in other expenses and 0.50% in interest expenses. They are designed to liquidate at NAV at a specific date in the future. Published 20 January 22. Provide specific products and services to you, such as portfolio management or data aggregation. How to Pick the Best Robo Advisor For You. Past performance is not indicative of future results. Investment return and principal value of an investment will fluctuate so that an investors shares may be worth more or less than the original cost. Money is always coming and going, and there's no hypothetical limit to the amount of new money a popular fund can take in and invest. New York, April 5, 2023 - BlackRock Advisors, LLC ("BlackRock") will host a conference call on Thursday, April 6, 2023 at 2:00pm ET featuring Sean Carney, Head of Municipal Strategy, and Phil Soccio, Portfolio Manager for the Municipal Fixed Income business. Forward-looking statements are typically identified by words or phrases such as trend, potential, opportunity, pipeline, believe, comfortable, expect, anticipate, current, intention, estimate, position, assume, outlook, continue, remain, maintain, sustain, seek, achieve, and similar expressions, or future or conditional verbs such as will, would, should, could, may or similar expressions. But you also get the opportunity to enjoy a 7.1% distribution rate while you wait for the fund's discount to NAV to shrink to something a little closer to normal. The information displayed on this website may not include all of the screens that apply to the relevant index or the relevant fund. These can be something of a chore to own in that they tend to make your tax returns more complicated. Help bridge the gap between projected and targeted returns with alts. Explore BlackRock's managed funds and iShares ETFs. Performance chart data not available for display. BlackRock Energy and Resources Trust. Mr. Menge earned a BA degree in history from Cornell University in 2001. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. BlackRock provides compensation in connection with obtaining or using third-party ratings and rankings. This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Funds or BlackRocks future financial or business performance, strategies or expectations. Learn more about JQC at the Nuveen provider site. As a case in point, consider the Ecofin Sustainable and Social Impact Fund (TEAF (opens in new tab), $13.19), which invests primarily in an eclectic mixture of traditional and alternative energy across both the public and private sectors. BlackRock Corporate High Yield Fund, Inc. BlackRock Floating Rate Income Strategies Fund, Inc. Yet the bulk of the investors fled the sector during the rout have yet to return, which has helped to keep prices low. Terms of Service apply. They often trade at deep discounts to NAV, can persist like that for years, and nothing seems to shake them out of that rut. BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the "Closed-end Funds" section of www.blackrock.com as . Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. CEFs are a type of investment fund, and in fact, they are older than mutual funds. BlackRock Large Cap Focus Growth Fund, Inc. iShares MSCI EAFE International Index Fund, iShares Russell 2000 Small-Cap Index Fund, iShares MSCI Total International Index Fund, iShares Russell 1000 Large-Cap Index Fund, iShares 10+ Year Investment Grade Corporate Bond ETF, iShares 1-5 Year Investment Grade Corporate Bond ETF, iShares Broad USD Investment Grade Corporate Bond ETF, iShares 5-10 Year Investment Grade Corporate Bond ETF, iShares Intermediate Government/Credit Bond ETF, iShares International Select Dividend ETF, iShares U.S. Broker-Dealers & Securities Exchanges ETF, iShares U.S. Oil & Gas Exploration & Production ETF, iShares U.S. Oil Equipment & Services ETF, iShares J.P. Morgan EM Corporate Bond ETF, iShares J.P. Morgan EM High Yield Bond ETF, iShares J.P. Morgan EM Local Currency Bond ETF, iShares International Developed Real Estate ETF, iShares Residential and Multisector Real Estate ETF, iShares International High Yield Bond ETF, iShares US & Intl High Yield Corp Bond ETF, iShares iBoxx $ High Yield Corporate Bond ETF, iShares iBoxx $ Investment Grade Corporate Bond ETF, iShares J.P. Morgan USD Emerging Markets Bond ETF, iShares Morningstar Multi-Asset Income ETF, iShares MSCI All Country Asia ex Japan ETF, iShares MSCI Peru and Global Exposure ETF, iShares MSCI Emerging Markets Min Vol Factor ETF, iShares MSCI Emerging Markets Small-Cap ETF, iShares MSCI Global Metals & Mining Producers ETF, iShares MSCI Global Silver and Metals Miners ETF, iShares MSCI United Kingdom Small-Cap ETF, iShares Core S&P Total U.S. Stock Market ETF, iShares International Developed Property ETF, iShares Emerging Markets Infrastructure ETF, iShares Global Consumer Discretionary ETF, iShares North American Natural Resources ETF, iShares North American Tech-Multimedia Networking ETF, iShares Expanded Tech-Software Sector ETF, iShares Short-Term National Muni Bond ETF, iShares Preferred and Income Securities ETF, iShares 1-3 Year International Treasury Bond ETF, BlackRock Utilities, Infrastructure, & Power Opportunities Trust, iShares Core MSCI Total International Stock ETF, iShares 0-5 Year Investment Grade Corporate Bond ETF, iShares 0-5 Year High Yield Corporate Bond ETF, iShares Interest Rate Hedged Corporate Bond ETF, iShares Interest Rate Hedged High Yield Bond ETF, iShares Currency Hedged MSCI Emerging Markets ETF, iShares Currency Hedged MSCI Eurozone ETF, iShares GSCI Commodity Dynamic Roll Strategy ETF, Strategic Income Opportunities 529 Option, iShares U.S. Is Meta Stock Still a Buy After Its Big Rally? For mutual fund and exchange traded fund fees and standardized quarterly performance, please click on the fund name below. How we use your information depends on the product and service that you use and your relationship with us. When you purchase through links on our site, we may earn an affiliate commission. The Fed might be successful in bringing inflation to heel. Neither FTSE nor NAREIT makes any warranty regarding the FTSE NAREIT Equity REITS Index, FTSE NAREIT All Residential Capped Index or FTSE NAREIT All Mortgage Capped Index; all rights vest in NAREIT. Closed-end funds often sell at massive discounts to net asset value (NAV). * Includes 1.22% in management fees, 0.10% in other expenses and 1.02% in interest expenses. Another nice aspect of CEFs is that, unlike mutual funds, they can use debt leverage to juice their returns. ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. The performance quoted represents past performance and does not guarantee future results. When evaluating fund performance, it is important to note that it does not represent actual performance of such share class. At the time of sale, your shares may have a market price that is above or below net asset value, and may be worth more or less than your original investment. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. To reach a different BlackRock site directly, please update your user type. Since 1999, we've been a leading provider of financial technology, and our clients turn to us for the solutions they need when planning for their most important goals. But here's the fun part and what makes TEAF one of the best closed-end funds to own: The CEF is designed to liquidate in 2031. If you meet certain income requirements, you are required to file a federal tax return (or get an extension) by Tax Day. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited. And adding insult to injury, you generally shouldn't hold them in traditional IRA accounts due to the fact that they often generate unrelated business taxable income. The Funds have authorized open market share repurchase programs (the "Repurchase Programs") pursuant to which each Fund may repurchase, through November . BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the quarter ended March 31, 2023. To obtain a current prospectus or, if available, a summary prospectus, please click on the fund name or visitwww.iShares.comorwww.blackrock.com. These growth ETFs offer exposure to higher-risk, higher-reward stocks while lessening the risk of a single stock torpedoing your returns. The term feature ensures NAV liquidity upon maturity. The Nuveen Credit Strategies Income Fund trades at a 9.8% discount to NAV. This and other information can be found in the Funds' prospectuses. The Growth of Hypothetical $10,000 chart reflects a hypothetical $10,000 investment in the fund. That means we're getting a massive discount on an already cheap sector. Closed-end funds; ASSET CLASS. The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Barclays, Bloomberg Finance L.P., Cohen & Steers Capital Management, Inc., European Public Real Estate Association (EPRA ), FTSE International Limited (FTSE), ICE Data Services, LLC, India Index Services & Products Limited, JPMorgan Chase & Co., Japan Exchange Group, MSCI Inc., Markit Indices Limited, Morningstar, Inc., The NASDAQ OMX Group, Inc., National Association of Real Estate Investment Trusts (NAREIT), New York Stock Exchange, Inc., Russell or S&P Dow Jones Indices LLC. Access to current leaders and emerging winners in the technology sector, Flexible mandate investing in technology companies across various market-caps, regions and industries, Sells (writes) call options on underlying equity portfolio, potentially reducing the funds volatility. (opens in new tab). To reach a different BlackRock site directly, please update your user type. That's been a rough business to be in since the domestic energy glut became an issue in late 2014. Speaking of energy, good old fashioned oil stocks were some of the best performers in 2022 and the energy sector entered 2023 with strong momentum. Investment return and principal value of an investment will fluctuate so that an investors shares, when sold or redeemed, may be worth more or less than the original cost. CORRECTING and REPLACING BlackRock Closed-End Fund Share Repurchase Program Update. By Katelyn Washington Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. Leave the BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for individuals. The amount and timing of any repurchases under each Funds Repurchase Program will be determined either at the discretion of the Funds management or pursuant to predetermined parameters and instructions subject to market conditions. As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. MSCI has established an information barrier between equity index research and certain Information. It doesn't really "do" anything. Reid Menge, Director, is a member of the Fundamental Active Equity division of BlackRock's Active Equity Group. FDEU owns a diversified portfolio of European blue chips and counts Nestle (NSRGY (opens in new tab)), Shell (SHEL (opens in new tab)) and Novartis (NVS (opens in new tab)) among its largest holdings. For mutual fund and exchange traded fund fees and standardized quarterly performance, please click on the fund name below. When distributions exceed total return performance, the difference will reduce the Fund's net asset value per share. There is no assurance that a fund will repeat that yield in the future. While more than half its portfolio is in U.S. stocks, Europe accounts for a healthy weighting, too, with the highest allocations to the United Kingdom (10.7%), France (5.6%) and Switzerland (5.4%). If you're in the 37% tax bracket, that translates to a tax-equivalent yield of 4.9%. A return of capital may occur, for example, when some or all of a shareholder's investment is paid back to the shareholder. BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the quarter ended March 31, 2023. But the fund also has exposure to preferred stock (3.4% of the portfolio) and bonds (4.7%), as well as a few smaller positions in other assets. $0.125000. Inflation, rising rates and market gyrations can actually make this a good time to clarify your vision for the future and ensure your portfolio matches those goals and protects against risk. BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the Access to less liquid and private investments* can potentially harvest the illiquidity premium to seek higher income and return. Investors and others are advised to check the website for updated performance . 2023 BlackRock, Inc. All rights reserved. Those distributions temporarily cause extraordinarily high yields. Each of the Funds has adopted a managed distribution plan (the "Plan") to support a level distribution of income, capital gains and/or return of capital. Review the MSCI methodology behind the Sustainability Characteristics and Business Involvement metrics: 1ESG Ratings; 2Index Carbon Footprint Metrics; 3Business Involvement Screening Research; 4ESG Screened Index Methodology; 5ESG Controversies; 6MSCI Implied Temperature Rise. BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. Source: Lipper. The fund may not be able to readily dispose of such investments at prices that approximate those at which the fund could sell such investments if they were more widely traded and, as a result of such illiquidity, the fund may have to sell other investments or engage in borrowing transactions if necessary to raise cash to meet its obligations. * Includes a 1.33% in management fees, 0.12% in other expenses and 1.30% in interest expenses. Learn more about FDEU at the First Trust provider site. REIT dividends allow investors to boost their income stream, making the yield-friendly sector all the more attractive especially during periods of high inflation. Sean and Phil will give an update on the municipal bond market and provide their outlook for municipal closed-end funds (the "Funds"). BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the quarter ended March 31, 2023. These Fidelity funds provide investors solid active management at low costs. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. * Includes 1.41% in management fees, 0.33% in additional expenses, 1.34% in interest expenses and 0.01% in income tax expenses. It targets a $25 net asset value at the end of its term, and the fund trades at a deep 8.0% discount to NAV. I consult or invest on behalf of a financial institution. The chart assumes Fund expenses, including management fees and other expenses were deducted. As you might have gathered from the name, the BlackRock fund is a municipal CEF that will liquidate in 2030. Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each companys specific business involvement. BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the Closed-end Funds section of www.blackrock.com as well as certain other material information as necessary from time to time. This information can be found in the "Closed-End Funds" section of www.blackrock.com. MSCI Ratings are currently unavailable for this fund. The problem, of course, is that cheap CEFs can stay cheap forever in the absence of a catalyst to close the discount to NAV. A closed-end funds dividend yield, market price and NAV will fluctuate with market conditions. Mr. Menge began his investment career in 2001 at Credit Suisse First Boston as an analyst for fixed income sales. Only time will tell. Today, that discount is 2.5%. Develop and improve features of our offerings. And the MFS Municipal Income Trust (MFM (opens in new tab), $5.37) is one of the best closed-end funds for municipal bond investors to consider. For details regarding which funds and share classes leverage synthetic, pre-inception performance,please visit this page. Blackrock Closed-end Fund Share Repurchase Program Update Press Release Actions Download Email Add To Favorites Information Information Description : Dividend Press Release Publication date: Apr 11, 2023 Target Audience: For Individuals Product group: BlackRock Closed-End Funds Done Let's cap this off this list of the best closed-end funds with another solid term fund: The BlackRock Municipal 2030 Target Term Trust (BTT (opens in new tab), $22.06). BlackRock Enhanced Global Dividend Trust Adding more BOE to my portfolio was a move to add more global exposure to my portfolio. But after years dealing with brutal competitive conditions, the energy infrastructure sector is the leanest and best capitalized it's been in living memory. The closing price and net asset value (NAV) of a funds shares will fluctuate with market conditions. These products and services are usually sold through license agreements or subscriptions. So, apart from the potential gains due to the underlying bonds rising in value and from the tax-free dividend, we should enjoy a nice kicker as the fund's share price approaches NAV at liquidation. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above. Fees data reflected above is current as of the latest annual shareholder report. So anyone buying today can enjoy the 8.2% dividend while waiting for the discount to close. Learn more about BTT at the BlackRock provider site. This information must be preceded or accompanied by a current prospectus. BST commenced operations in October 2014 with the investment objectives of providing income and total return through a combination of current income, current gains and long-term capital appreciation. The name changes . Neither MSCI ESG Research nor any Information Party makes any representations or express or implied warranties (which are expressly disclaimed), nor shall they incur liability for any errors or omissions in the Information, or for any damages related thereto. The Funds have authorized open market share repurchase programs (the "Repurchase Programs") pursuant to which each Fund may repurchase, through November . The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (NAV) per share, which could result in incremental accretion to a Funds NAV. CEFs have initial public offerings (IPOs) like stocks, and there is a fixed number of shares that then trade on the stock market. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. The very first closed-end fund was launched in 1893 more than 30 years before the first traditional mutual funds (like those you might find in your 401(k) plan) were created. Certain closed-end funds may invest without limitation in illiquid or less liquid investments or . BlackRock Science and Technology Trust (BST), is a perpetual closed-end equity fund. Yet even after a good run, energy stocks are still attractively priced. As an analyst for fixed Income sales investments or specific date in the future market conditions ; closed-end often! The value of a chore to Own in a Bear market our purpose at BlackRock is help! Enhanced global dividend Trust Adding more BOE to my portfolio was a move to add more exposure... How to Pick the Best Robo Advisor for you price and NAV will fluctuate with market.. * Includes 1.22 % in other expenses and 1.02 % in management and... Are typically available 6 months after launch fixed Income sales often sell at blackrock closed end funds. 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