Fund Evaluator:
BlackRock Allc Trgt Hi Inc Muncpl (BATEX)
Follow This Fund
Best Performing in Miscellaneous Fixed Income Over the Last Year
| 6.4% | AB Impact Municipal Income (ABIMX) |
| 5.1% | Allspring Managed Acct CoreBuilder® M (WFCMX) |
| 5.1% | BlackRock Allc Trgt Sctzd TR (BATAX) |
| 4.8% | PIMCO Fixed Income SHares C (FXICX) |
| 3.5% | Western Asset SMASh Series C (LMLCX) |
Fund Details
BlackRock Allc Trgt Hi Inc Muncpl Overview
BlackRock Allc Trgt Hi Inc Muncpl (BATEX) is an actively managed Taxable Bond Miscellaneous Fixed Income fund. BlackRock launched the fund in 2014.
The investment seeks to maximize Federal tax-free yield with a secondary goal of total return. Under normal circumstances, the fund seeks to invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in investments the income of which is free from federal income tax and derivatives that provide investment exposure to such securities or to one or more market risk factors associated with such securities.
About BlackRock Allc Trgt Hi Inc Muncpl (BATEX)
There are 3 members of the management team with an average tenure of 3.78 years: Phillip Soccio (2022), Kevin Maloney (2022), Ryan McDonald (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Municipal TR USD index with a weighting of 100% and Bloomberg HY Muni TR USD index with a weighting of 100%. BlackRock Allc Trgt Hi Inc Muncpl has 837 securities in its portfolio. The top 10 holdings constitute 11.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
BlackRock Allc Trgt Hi Inc Muncpl is part of the Fixed Income global asset class and is within the Taxable Bond fund group. BlackRock Allc Trgt Hi Inc Muncpl has 6.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.2%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.7% (91.8% domestic bond, 6.9% foreign bond and 0.0% convertible bond). BlackRock Allc Trgt Hi Inc Muncpl has 1.1% of the portfolio in cash.
Assets Under Management
The fund has $716 million in total assets, which is below the $716 million average for the Miscellaneous Fixed Income category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BATEX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The BlackRock Allc Trgt Hi Inc Muncpl expense ratio is low compared to funds in the Miscellaneous Fixed Income category. BlackRock Allc Trgt Hi Inc Muncpl has an expense ratio of 0.16%, which is 39% lower than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. BlackRock Allc Trgt Hi Inc Muncpl has a portfolio turnover rate of 36%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 109% for the Miscellaneous Fixed Income category.
Recently, in the month of August 2026, BlackRock Allc Trgt Hi Inc Muncpl returned -0.6%, which earned it a grade of F, as the Miscellaneous Fixed Income category had an average return of 0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
BlackRock Allc Trgt Hi Inc Muncpl has a trailing yield of 5.09%, which is below the 5.72% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
BlackRock Allc Trgt Hi Inc Muncpl Grades
Year to date, the fund has returned 1.7%, 0.3 percentage points worse than the category, which translates into a grade of C. The fund has returned 6.6% over the past year (grade of B), 5.8% over the past three years (grade of C) and 0.9% per year over the past five years (grade of C) and 3.6% per year over the past 10 years (grade of B).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about BlackRock Allc Trgt Hi Inc Muncpl, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
BATEX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BATEX Return (NAV) | -0.6% | -0.6% | 6.6% | 5.8% | 0.9% | 3.6% |
| BATEX Grade | F | D | B | C | C | B |
| +/- Category | -1.1% | -0.9% | 1.7% | -0.9% | -0.9% | 0.7% |
| Miscellaneous Fixed Income Avg | 0.5% | 0.3% | 4.9% | 6.7% | 1.8% | 2.9% |
| BATEX Tax Cost Ratio | na | na | 2.0% | 1.9% | 1.7% | 1.7% |
BATEX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BATEX Return (NAV) | 1.7% | 3.2% | 5.5% | 8.1% | -13.3% | 9.3% | 6.1% | 11.1% | 2.1% | 10.2% | 2.8% |
| BATEX Grade | C | F | C | C | D | A | C | B | A | A | C |
| +/- Category | -0.3% | -4.3% | -0.5% | -0.5% | -3.1% | 7.1% | 0.1% | 2.3% | 1.6% | 5.2% | -1.4% |
| Miscellaneous Fixed Income Avg | 2.0% | 7.5% | 6.0% | 8.6% | -10.2% | 2.2% | 6.0% | 8.7% | 0.4% | 5.0% | 4.1% |
| Risk Measures | |
| Standard Deviation: | 7.4% |
| Total Risk Index: | 0.61 - Below Average |
| Category Risk Index: | 1.46 - High |
| Category Risk Grade: | F (93% Rank) |
| Beta: | 1.04 |
| R-Squared: | 62% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 5.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $716 Mil |
| Fund Total Assets: | $ 716 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 36% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 3.9 years | |||
| Average Tenure: 3.8 years | |||
| Managers (Year): Soccio Phillip (2022), Maloney Kevin (2022), McDonald Ryan (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 837 |
| % in Top 10 Holdings: | 11.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.2% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 91.8% |
| Foreign Bond: | 6.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.1% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-882-0052 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | August 4, 2014 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.16% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.26% |
| Share Class: | BlackRock Allc Trgt Hi Inc Muncpl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
