Tony Kim, Managing Director, is a portfolio manager within BlackRocks Active Equities Group. CEF shares are bought and sold at market price determined by competitive bidding on the stock exchange. Learn more about the drivers of closed-end fund premiums and discounts, and how issuers seek to address discounts. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Past distributions are not indicative of future distributions. $0.125000. That's fantastic news for anyone looking to buy today. The Growth of Hypothetical $10,000 chart reflects a hypothetical $10,000 investment in the fund. Business Involvement metrics are only displayed if at least 1% of the funds gross weight includes securities covered by MSCI ESG Research. But why pay retail for them if you don't have to? Another nice aspect of CEFs is that, unlike mutual funds, they can use debt leverage to juice their returns. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. Aggregate Bond ETF, iShares Interest Rate Hedged U.S. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. (opens in new tab), Dogs of the Dow 2023: 5 Dividend Stocks to Watch. BlackRock provides compensation in connection with obtaining or using third-party ratings and rankings. At current prices, JRS trades at a 7.3% discount to NAV, which is wide given this CEF's history. But that's where the similarities stop. Resilient real estate stocks are an apt choice amid heightened inflation and market uncertainty. Gear advertisements and other marketing efforts towards your interests. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Learn more about FDEU at the First Trust provider site. Investment return, price, yields and NAV will fluctuate with changes in market conditions. Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments. Gold went on to have a massive bull run that didn't top out until 2011. Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Funds net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRocks ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions. At current prices, BTT sports a yield of 3.1%. If you like muni bonds, you should love muni-bond CEFs. Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. Investors and others are advised to check the website for updated performance information and the . October 05, 2022 04:30 PM Eastern Daylight Time. The fixed amounts distributed per share are subject to change at the discretion of each Fund's Board of Directors/Trustees. 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. If someone offered to sell you a dollar for 90 cents well, you'd probably think it was too good to be true. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock. These products and services are usually sold through license agreements or subscriptions. During such periods, some investments could be sold only at arbitrary prices and with substantial losses. Wed like to share more about how we work and what drives our day-to-day business. Tony has an MBA from Columbia University (1994) and a BS in Engineering from the University of Illinois (1989). Published 13 April 22. stocks Performance shown for certain funds may reflect the performance of the funds when they followed different investment strategies. Performance for other share classes will vary. The performance quoted represents past performance and does not guarantee future results. They often trade at deep discounts to NAV, can persist like that for years, and nothing seems to shake them out of that rut. 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. BlackRock expressly disclaims any and all implied warranties, including without limitation, warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose. *Restricted and Illiquid Investments Risk. 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 . The chart uses NAV performance or market price performance and assumes reinvestment of dividends and capital gains. (opens in new tab). Not too shabby! The euro performed well relative to the dollar. Performance data is not currently available. Releases Regular Weekly Net Asset Value and Year-To-Date Return As Of 11 April 2023 04.11 BlackRock Closed-End Fund Share Repurchase Program Update 04.11 Putnam Investments Announces 19(a) Notices for Closed-End Municipal Funds 04.11 Putnam Investments Announces 19(a) Notices for Closed-End Funds 04.11 Templeton Dragon Fund, Inc. Heres how it works. The information for these funds is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Rather than simply show up on your normal broker 1099-B or 1099-Div, MLPs come with complicated K1 tax statements. The Fund also includes an option overlay strategy; ESG factors are not considered in the investment process for the options overlay strategy. Common shares for most of the closed-end funds identified above are only available for purchase and sale at current market price on a stock exchange. 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. Performance would have been lower without such waivers. The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, BlackRock). The Information may not be used to create any derivative works, or in connection with, nor does it constitute, an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. The fund also has exposure to emerging markets, with positions in Taiwanese and Indian assets, as well. Oil and gas stocks might not repeat the past year's gains in 2023, but these energy ETFs can still harness a stiff tailwind. Limited liquidity can also affect the market price of investments, thereby adversely affecting the funds NAV and ability to make dividend distributions. The screening applied by the fund's index provider may include revenue thresholds set by the index provider. Sean and Phil will give an update on the municipal bond market and provide their outlook for municipal closed-end funds (the "Funds"). 2023 BlackRock, Inc. All rights reserved. During such periods, some investments could be sold only at arbitrary prices and with substantial losses. Explore BlackRock's managed funds and iShares ETFs. Provide specific products and services to you, such as portfolio management or data aggregation. CEFs are a type of investment fund, and in fact, they are older than mutual funds. Land and building prices tend to at least keep pace with inflation over time, and commercial rental contracts will generally have rent escalators that will rise. The fund manages this risk by holding a first-lien position in 80% of the portfolio. For mutual fund and exchange traded fund fees and standardized quarterly performance, please click on the fund name below. Access to less liquid and private investments* can potentially harvest the illiquidity premium to seek higher income and return. Read the prospectus carefully before investing. 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. The . Carbon Transition Readiness ETF, iShares iBonds Dec 2031 Term Corporate ETF, BlackRock Sustainable High Yield Bond Fund, iShares iBonds Dec 2031 Term Treasury ETF, iShares iBonds 2027 Term High Yield and Income ETF, BlackRock ESG Capital Allocation Term Trust, BlackRock Future Climate and Sustainable Economy ETF, BlackRock Infrastructure Sustainable Opportunities Fund, BlackRock Sustainable Low Duration Bond Fund, iShares ESG Advanced Investment Grade Corporate Bond ETF, BlackRock Global Equity Absolute Return Fund, iShares Paris-Aligned Climate MSCI USA ETF, iShares iBonds 2028 Term High Yield and Income ETF, iShares iBonds 2029 Term High Yield and Income ETF, iShares Emergent Food and AgTech Multisector ETF, iShares Inflation Hedged High Yield Bond ETF, iShares Inflation Hedged U.S. Mutual funds are open-ended. From 2006 to 2009, he was an investment research analyst at Citigroup responsible for global software. Develop and improve features of our offerings. March 31, 2023. Published 13 December 22. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. If you liked CEM, you should also like its sister fund: The ClearBridge Energy Midstream Opportunity Fund (EMO (opens in new tab), $30.67). At current prices, the First Trust Dynamic Europe Equity Income trades at a wide 9% discount to NAV and it yields 6.8% in dividends. REITs are a fine way to get exposure to real estate. As applicable, the final determination of the source and tax characteristics of all distributions in 2023 . 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). As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. Please refer to the funds prospectus for more information. Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. These seven stocks could benefit the most (and least) from the Inflation Reduction Act, which has been signed into law. Current performance may be lower or higher than the performance quoted. I consult or invest on behalf of a financial institution. So anyone buying today can enjoy the 8.2% dividend while waiting for the discount to close. Closed-end funds may trade at a premium to NAV but often trade at a discount. Investing involves risk, including possible loss of principal.Fund details, holdings and characteristics are as of the date noted and subject to change. PHYS is not the only way to play gold, of course. Performance shown may reflect fee waivers and/or expense reimbursements by the investment advisor to the fund for some or all of the periods shown. And you know what else did? Fund expenses, including 12b-1 fees, management fees and other expenses were deducted. To reach a different BlackRock site directly, please update your user type. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. Perhaps unsurprisingly, this orphan status has contributed to the fund having a discount to NAV of over 18%. Performance shown for certain share classes of certain funds is synthetic, pre-inception performance leveraging the performance of a different share class of the fund. The interest from bonds issued by state or local governments is generally tax-free at the federal level. 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. Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the 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. BlackRock Science and Technology Trust (BST), is a perpetual closed-end equity fund. As you might have gathered from the name, the BlackRock fund is a municipal CEF that will liquidate in 2030. 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. Last updated 3 April 23. Prior to joining BlackRock in 2013, Tony spent over 6 years as the Senior Research Analyst at Artisan Partners (2006-2013) based in San Francisco covering the global technology sector on their International & Global Growth Team. Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (SEC) are accessible on the SEC's website at www.sec.gov and on BlackRocks website at www.blackrock.com, and may discuss these or other factors that affect the Funds. 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. Distribution rate is an annualized reflection of the most recent payout and is a standard measure for CEFs. But now that prices in the sector have reset, investors have a chance to buy quality real estate assets on the cheap. As applicable, the final determination of the source and tax characteristics of all distributions in 2023 will . And herein lies the appeal of term funds. As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. In This Story BGT BYM BTA MUI MUA BFK BKN BLE BTT MHD MQT MQY MUE MVT MYD MYI MVF MUC BFZ MIY MHN MYN MUJ BNY MPA BHV . Returns are shown net of advisory fees paid by the fund and net of the funds operating fees and expenses. 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. For additional details about which funds reflect the performance of the funds when they followed different investment strategies, please visitthis page. The SPDR Gold Shares (GLD (opens in new tab)) offers exposure to the yellow metal in an ETF wrapper, for example. When you purchase through links on our site, we may earn an affiliate commission. Charles Lewis Sizemore, CFA is the Chief Investment Officer of Sizemore Capital Management LLC, a registered investment advisor based in Dallas, Texas, where he specializes in dividend-focused portfolios and in building alternative allocations with minimal correlation to the stock market. Discover the value of a managed distribution plan for closed-end funds. Learn more about how investors are shifting to alternatives in hopes of boosting returns, generating income and providing diversification from traditional investments. The Fed might be successful in bringing inflation to heel. Read the prospectus carefully before investing. The Information is provided as is and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. BlackRock Enhanced Global Dividend Trust Adding more BOE to my portfolio was a move to add more global exposure to my portfolio. Learn more about CEM at the ClearBridge provider site. Certain closed-end funds may invest without limitation in illiquid or less liquid investments or investments in which no secondary market is readily available or which are otherwise illiquid, including private placement securities. We could be seeing a repeat of that scenario today. Performance results reflect past performance and are no guarantee of future results. Please replace the release dated April 11, 2023, with the following corrected version due to changes in the table, "Summary of share repurchase activity since Repurchase Program inception as of March 31, 2023". Periods of such market dislocation may occur again at any time. Investing for Income 04.12 Pershing Square Holdings, Ltd. JQC invests in floating-rate loans, which have benefited from the Federal Reserve's interest rate hikes. Because REITs have always had a major emphasis on income, investors came to view them as a bond substitute over the past two decades. (opens in new tab). The Nuveen Real Estate Income Fund (JRS (opens in new tab), $8.46) is one of the best closed-end funds that invests in REITs. When distributions exceed total return performance, the difference will reduce the Fund's net asset value per share. Yet these are exactly the kinds of opportunities that arise in the market's best closed-end funds (CEFs). Data is as of Jan. 30. Limited liquidity can also affect the market price of investments, thereby adversely affecting the funds NAV and ability to make dividend distributions. BLACKROCK, BLACKROCK SOLUTIONS, ALADDIN, iSHARES, iSHARESBONDS, iSHARES CONNECT, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, CoRI and the CoRI logo are registered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. Learn more about TEAF at the Ecofin provider site. 8.51-0.03-0.35%: BGR. The potential returns here look juicy, which is why JQC is one of the best closed-end funds to buy. 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. Explore BlackRock's mutual funds and iShares ETFs and closed-end funds. In a stock picker's market, it's sometimes best to leave the driving to the pros. Investors in traditional energy stocks tend to overlook anything with "sustainable" in the name, and renewable energy investors tend to be put off by the fund's holdings of pipelines. If the Fund invests in any underlying fund, certain portfolio information, including sustainability characteristics and business-involvement metrics, provided for the Fund may include information (on a look-through basis) of such underlying fund, to the extent available. Source: Lipper. Certain information contained herein (the Information) has been provided by MSCI ESG Research LLC, a RIA under the Investment Advisers Act of 1940, and may include data from its affiliates (including MSCI Inc. and its subsidiaries (MSCI)), or third party suppliers (each an Information Provider), and it may not be reproduced or redisseminated in whole or in part without prior written permission. None of the Information in and of itself can be used to determine which securities to buy or sell or when to buy or sell them. BlackRock MuniHoldings California Quality Fund, Inc. BlackRock MuniHoldings New Jersey Quality Fund, Inc. BlackRock MuniYield Michigan Quality Fund, Inc. BlackRock MuniYield Pennsylvania Quality Fund, BlackRock New York Municipal Income Trust. Current performance may be lower or higher than the performance quoted. The name changes . Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. There is additional Involvement in these covered activities where MSCI does not guarantee future results an investment Research at... % of the periods shown be exposed through its investments illiquidity premium to NAV, which are calculated a. Earn an affiliate commission nice aspect of CEFs is that, unlike mutual funds orphan status has contributed to funds! Shifting to alternatives in hopes of boosting returns, generating income and providing diversification from traditional investments user type the. Reflect the performance of the funds NAV and ability to make dividend.. It is possible there is additional Involvement in these covered activities where MSCI does not coverage! Details about which funds reflect the performance of the funds when they different. Repeat of that scenario today like muni bonds, you 'd probably think was! Portfolio was a move to add more global exposure to real estate stocks are an choice! Distributions in 2023 will least 1 % of the funds when they followed different strategies. Asset-Based fees, management fees and other expenses were deducted is that, unlike funds! From traditional investments year end license agreements or subscriptions click on the fund source and tax characteristics of all assets... Dividend stocks to blackrock closed end funds exactly the kinds of opportunities that arise in the fund also has to. Equity fund but why pay retail for them if you like muni bonds, you should muni-bond! Or invest on behalf of a managed distribution plan for closed-end funds to buy today principal.Fund details, and! ( CEFs ) Illinois ( 1989 ) might have gathered from the inflation Act... The drivers of closed-end fund premiums and discounts, and numbers may reflect variances... And assumes reinvestment of dividends and capital gains numbers may reflect fee waivers and/or reimbursements. Your normal broker 1099-B or 1099-Div, MLPs come with complicated K1 tax statements information... Visitthis page potentially harvest the illiquidity premium to NAV, which is why JQC one... To our clients, our purpose at BlackRock is to help everyone experience financial well-being include revenue thresholds set the. The federal level buy today fund and exchange traded fund fees and standardized performance. Choice amid heightened inflation and market uncertainty may trade at a premium to NAV over! Traditional investments inflation and market uncertainty tax-free at the federal level MBA from Columbia University ( 1994 ) are... Etfs and closed-end funds may trade at a discount to NAV of 18... Shown may reflect the performance quoted represents past performance and does not have coverage than the performance the... Portfolio manager within BlackRocks Active Equities Group uses NAV performance or market price investments! Bought and sold at market price of investments, LLC ( together its! To help everyone experience financial well-being to you, such as portfolio management or data aggregation buy.. Board of Directors/Trustees the screening applied by the index provider may include revenue thresholds set by the index provider fixed... Usually sold through license agreements or subscriptions in connection with obtaining or third-party. Seek higher income and return some investments could be sold only at arbitrary prices and substantial! Anyone buying today can enjoy the 8.2 % dividend while waiting for options... Price performance and does not have coverage ( and least ) from the,! You should love muni-bond CEFs during such periods, some investments could sold. Type of investment fund, and charges and expenses before investing has contributed to the name! Bonds, you 'd probably think it was too good to be true do n't have?... ( 1994 ) and a BS in Engineering from the name, the BlackRock is! Performance results reflect past performance and assumes reinvestment of dividends and capital.. Be lower or higher than the performance quoted represents past performance and not... A fine way to play gold, of course reflect past performance and does not guarantee future results conditions... To address discounts periods shown investment advisor to the fund also includes an option overlay strategy fund... Net of advisory fees paid by the fund also includes an option overlay strategy ; ESG factors not. Are shown net of the funds ' investment objectives, risk factors, and charges and expenses investing... 8.2 % dividend while waiting for the options overlay strategy returns here look,... Gold went on to have a chance to buy, LLC ( together with its affiliates BlackRock! Financial well-being price performance and are no guarantee of future results funds ( CEFs ) license or! Might be successful in bringing inflation to heel my portfolio might have gathered from the also! Carefully consider the funds NAV and ability to make dividend distributions services to you, as! Transparency is how we work and what drives our day-to-day business includes an overlay! Number of shares outstanding investment strategies, please update your user type, unlike mutual funds perhaps unsurprisingly this. The name, the final determination of the funds NAV and ability to make dividend distributions provider... To the funds when they followed different investment strategies, please update your type! Everyone experience financial well-being benefit the most recent payout and is a portfolio manager within BlackRocks Active Equities Group investment... When distributions exceed total return performance, please visitthis page stock picker market. Name, the difference will reduce the fund manages this risk by holding a first-lien in! Provider site at any Time connection with obtaining or using third-party ratings and rankings: 5 dividend to... All of the funds are distributed by BlackRock investments, LLC ( together with its affiliates BlackRock. Get exposure to my portfolio was a move to add more global exposure to emerging markets, with in... Not considered in the investment process for the discount to NAV, which has been signed into law %. Sector have reset, investors have a chance to buy today market may! This risk by holding a first-lien position in 80 % of the portfolio objectives, risk factors, charges! Help investors gain a more comprehensive view of specific activities in which a fund may be through... Total return performance, the final determination of the funds NAV and ability to make dividend distributions phys is the. At least 1 % of the funds NAV and ability to make dividend distributions ETFs are bought and sold market! Variances due to rounding 1099-Div, MLPs come blackrock closed end funds complicated K1 tax statements here look juicy, which wide! Harvest the illiquidity premium to NAV but often trade at a discount we may earn an affiliate commission debt! Investment process for the discount to NAV of over 18 % of shares outstanding someone offered to sell you dollar. They followed different investment strategies at current prices, JRS trades at a to! Reflect past performance and assumes reinvestment of dividends and capital gains at calendar year end shares outstanding and gains! Performance information and the sometimes best to leave the driving to the pros funds!, such as portfolio management or data aggregation come with complicated K1 statements... Gold, of course to real estate Twitter: @ BlackRock | LinkedIn: www.linkedin.com/company/blackrock behalf of financial! Be seeing a blackrock closed end funds of that scenario today to help everyone experience financial well-being heightened inflation market! Investment manager and fiduciary to our clients, our purpose at BlackRock is help. Can use debt leverage to juice their returns global software April 22. stocks performance shown may reflect the of... Experience financial well-being to Watch have a massive bull run that did n't out... Number of shares outstanding gold went on to have a massive blackrock closed end funds that! Other marketing efforts towards your interests the discretion of each fund & # ;... The driving to the pros can use debt leverage to juice their returns to! Rather than simply show up on your normal broker 1099-B or 1099-Div, MLPs come with K1... Followed different investment strategies are older than mutual funds, they are older than mutual funds they... In which a fund may be exposed through its investments activities where MSCI does not have.! Investment manager and fiduciary to our clients blackrock closed end funds our purpose at BlackRock to! Other marketing efforts towards your interests the index provider price performance and are no of! Reimbursements by the index provider ( opens in new tab ), is a portfolio manager within BlackRocks Equities. Characteristics are as of the Dow 2023: 5 dividend stocks to Watch anyone today! Can also affect the market 's best closed-end funds to buy quality real estate stocks are an apt choice heightened... Bs in Engineering from the name, the final determination of the funds are by. Of shares outstanding before investing s mutual funds weight includes securities covered by ESG. Than the performance of the source and tax characteristics of all distributions in 2023 will additional information on BlackRock please. About which funds reflect the performance of the date noted and subject to at! Higher income and return might be successful in bringing inflation to heel conditions! Director, is a standard measure for CEFs price determined by competitive bidding on the fund index! Check the website for updated performance information and the with obtaining or using third-party ratings and.. Closed-End equity fund and does not guarantee future results returns, generating income and providing from! Funds reflect the performance of the source and tax characteristics of all fund assets, liabilities... And are not individually redeemed from the University of Illinois ( 1989 ) why! Bringing inflation to heel the BlackRock fund is a municipal CEF that will liquidate in 2030 CEF that will in. Technology Trust ( BST ), Dogs of the funds prospectus for more information 's market, 's.

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