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Trending ETFs

Name

As of 06/18/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BATS SERIES E

BATEX | Fund

$10.40

$392 M

4.81%

$0.50

0.27%

Vitals

YTD Return

4.7%

1 yr return

8.9%

3 Yr Avg Return

0.0%

5 Yr Avg Return

3.2%

Net Assets

$392 M

Holdings in Top 10

26.2%

52 WEEK LOW AND HIGH

$10.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.27%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 26.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/18/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BATS SERIES E

BATEX | Fund

$10.40

$392 M

4.81%

$0.50

0.27%

BATEX - Profile

Distributions

  • YTD Total Return 4.7%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 3.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.80%
DIVIDENDS
  • Dividend Yield 4.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BATS SERIES E
  • Fund Family Name
    BlackRock-Advised Funds
  • Inception Date
    Aug 04, 2014
  • Shares Outstanding
    N/A
  • Share Class
    E
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Walter O'Connor

Fund Description

The Fund seeks to provide investors with greater Federal tax-free income, in comparison with other municipal bond funds that invest primarily in investment grade securities, by investing in a combination of investment grade and noninvestment grade municipal bonds. Municipal bonds include debt obligations issued by or on behalf of a governmental entity or other qualifying issuer that pay interest that is, in the opinion of bond counsel to the issuer, generally excludable from gross income for Federal income tax purposes (except that the interest may be includable in taxable income for purposes of the Federal alternative minimum tax). Issuers of municipal bonds may be states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities. Municipal bonds also include private activity bonds, short-term tax-exempt obligations like municipal notes and variable rate demand obligations.
The Fund may invest in municipal bonds rated in any rating category or in unrated municipal bonds. Currently, the Fund expects to invest approximately 50% of its net assets in below investment grade municipal bonds. While the level of the Fund’s investments in below investment grade municipal bonds may vary depending on market conditions, the Fund will not invest more than 70% of its net assets, at the time of purchase, in below investment grade municipal bonds, as rated by the independent rating agencies at the time of purchase (BB or lower by S&P Global Ratings (“S&P”) and Fitch Ratings, Inc. (“Fitch”), and Ba or lower by Moody’s Investors Service, Inc. (“Moody’s”)), or if unrated, determined to be of comparable quality by Fund management. Obligations rated BB or lower and Ba or lower are commonly known as “junk bonds.” Split rated bonds will be considered to have the higher credit rating. Split rated bonds are bonds that receive different ratings from two or more rating agencies.
The Fund is permitted to engage in transactions in certain derivatives, including, but not limited to, financial futures contracts and options thereon, options, indexed and inverse floating rate obligations and swap agreements, including credit default swap agreements. Derivatives are financial instruments whose value is derived from another security or an index such as the Bloomberg Municipal High Yield Bond Index. The Fund may use derivative instruments to hedge its investments or to seek to enhance returns. Derivatives may allow the Fund to increase or decrease its risk exposure more quickly and efficiently than other types of instruments. The Fund is not required to use hedging and may choose not to do so.
The Fund intends to invest so that no more than 25% of the Fund’s net assets are represented by the municipal securities of issuers located in the same state.
The Fund may also invest up to 10% of its net assets in municipal bonds that are considered “distressed securities.” Distressed securities are securities that are the subject of bankruptcy proceedings or otherwise in default as to the repayment of principal and/or payment of interest at the time of acquisition or are rated in the lowest rating categories by the independent rating agencies (CC or lower by S&P and Fitch, and Ca or lower by Moody’s), or if unrated, determined to be of comparable quality by Fund management.
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BATEX - Performance

Return Ranking - Trailing

Period BATEX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.7% -2.0% 7.9% 10.58%
1 Yr 8.9% -4.0% 11.5% 5.77%
3 Yr 0.0%* -9.4% 2.0% 6.40%
5 Yr 3.2%* -4.8% 526.0% 2.02%
10 Yr N/A* 0.0% 155.6% N/A

* Annualized

Return Ranking - Calendar

Period BATEX Return Category Return Low Category Return High Rank in Category (%)
2023 3.3% -6.2% 7.5% 37.98%
2022 -18.5% -26.9% -3.5% 70.73%
2021 4.8% -1.9% 5.6% 4.95%
2020 1.9% -10.1% 4.2% 10.50%
2019 6.7% -0.7% 9.1% 13.40%

Total Return Ranking - Trailing

Period BATEX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.7% -2.0% 7.9% 10.58%
1 Yr 8.9% -4.0% 11.5% 5.77%
3 Yr 0.0%* -9.4% 2.0% 6.40%
5 Yr 3.2%* -4.8% 526.0% 2.02%
10 Yr N/A* 0.0% 155.6% N/A

* Annualized

Total Return Ranking - Calendar

Period BATEX Return Category Return Low Category Return High Rank in Category (%)
2023 8.5% -4.1% 10.9% 19.23%
2022 -13.0% -26.9% 4.3% 34.15%
2021 9.6% -1.9% 10.0% 1.98%
2020 6.1% -4.1% 8.2% 10.00%
2019 8.4% -0.7% 1028633.9% 53.61%

NAV & Total Return History


BATEX - Holdings

Concentration Analysis

BATEX Category Low Category High BATEX % Rank
Net Assets 392 M 9.79 K 16.1 B 66.50%
Number of Holdings 528 1 3076 43.90%
Net Assets in Top 10 108 M -102 M 3.63 B 55.12%
Weighting of Top 10 26.17% 4.7% 99.9% 14.22%

Top 10 Holdings

  1. Dreyfus AMT-Free Tax Exempt Cash Management 14.79%
  2. Buckeye Tobacco Settlement Financing Authority 2.04%
  3. New York Transportation Development Corp 1.61%
  4. Southeast Alabama Gas Supply District/The 1.56%
  5. Port Authority of New York New Jersey (TOBs) 1.10%
  6. Salem Hospital Facility Authority 1.10%
  7. Southeast Alabama Gas Supply District/The 1.04%
  8. Arkansas Development Finance Authority 1.00%
  9. Commonwealth of Puerto Rico 1.00%
  10. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 0.92%

Asset Allocation

Weighting Return Low Return High BATEX % Rank
Bonds
85.66% 0.00% 146.69% 95.19%
Cash
14.79% -0.64% 100.00% 1.46%
Other
0.84% -8.76% 9.96% 10.73%
Stocks
0.00% 0.00% 99.33% 58.65%
Preferred Stocks
0.00% -47.61% 1.64% 45.85%
Convertible Bonds
0.00% 0.00% 0.00% 45.37%

Bond Sector Breakdown

Weighting Return Low Return High BATEX % Rank
Municipal
95.94% 0.00% 100.00% 82.93%
Cash & Equivalents
14.79% 0.00% 100.00% 0.98%
Corporate
2.55% 0.00% 2.83% 0.98%
Derivative
0.84% -8.76% 1.55% 5.37%
Securitized
0.00% 0.00% 22.44% 47.80%
Government
0.00% 0.00% 0.09% 48.78%

Bond Geographic Breakdown

Weighting Return Low Return High BATEX % Rank
US
85.66% 0.00% 139.84% 95.12%
Non US
0.00% 0.00% 13.35% 49.76%

BATEX - Expenses

Operational Fees

BATEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.27% 0.21% 3.44% 99.52%
Management Fee 0.00% 0.00% 1.41% 1.44%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

BATEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BATEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BATEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 26.00% 2.00% 121.00% 70.16%

BATEX - Distributions

Dividend Yield Analysis

BATEX Category Low Category High BATEX % Rank
Dividend Yield 4.81% 0.00% 6.13% 20.67%

Dividend Distribution Analysis

BATEX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

BATEX Category Low Category High BATEX % Rank
Net Income Ratio 3.80% 1.11% 5.70% 17.31%

Capital Gain Distribution Analysis

BATEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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BATEX - Fund Manager Analysis

Managers

Walter O'Connor


Start Date

Tenure

Tenure Rank

Aug 04, 2014

7.83

7.8%

Walter O’Connor, CFA, is a Managing Director and Co-Head of the Municipal Funds team within BlackRock’s Global Fixed Income Group. He is also a member of the Municipal Bond Operating Committee, which oversees all municipal bond portfolio management, research and trading activities. Mr. O’Connor’s service with the firm dates back to 1991, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, he was a portfolio manager for municipal bond retail mutual funds. Prior to joining MLIM, Mr. O’Connor was with Prudential Securities, where he was involved in trading, underwriting, and arbitrage for municipal securities and financial futures. Mr. O’Connor earned a B.A. degree in finance and philosophy from the University of Notre Dame in 1984.

Theodore Jaeckel


Start Date

Tenure

Tenure Rank

Aug 04, 2014

7.83

7.8%

Jaeckel Jr. is managing director at BlackRock. He joined BlackRock following the merger with Merrill Lynch Investment Managers (MLIM) in 2006. He is a member of BlackRock's Fixed Income Portfolio Management Group. Prior to joining MLIM in 1990, he was a municipal bond trader with Chemical Bank. Jaeckel holds the Chartered Financial Analyst designation.

Michael Perilli


Start Date

Tenure

Tenure Rank

Feb 10, 2016

6.31

6.3%

Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund. Vice President of BlackRock, Inc. since 2017;Associate of BlackRock, Inc. since 2011.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 21.43 7.46 2.52