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BlackRock New York Municipal Income Quality
BSE : NYSE : Financial
$13.66 0.09 | 0.66%
Today's Range: 13.58 - 13.68
Avg. Daily Volume: 17,200
01/28/15 - 2:31 PM ET
  • Last Ratings Update:12/31/2014
  • Price as of 12/31/2014 :$13.26
  • Net Assets:$97.1 Million
  • NAV:$15.14
  • Premium-12.42%
  • Peer Rank:70 of 93
  • Investment Rating:C
  • Performance:C
  • RiskB-
BSE Price Chart


We rate BlackRock New York Muni Inc Qly at C. Positive factors that influence this rating include a low price volatility. The fund invests approximately 99% of its assets in bonds and may be considered for investors seeking a Municipal Single State strategy.


Total return ranks below peers over the last three years. The BlackRock New York Muni Inc Qly has returned an annual rate of 4.87% since inception. More recently, the fund has generated a total return of 5.85% in the last five years, 1.71% in the last three years, and 16.16% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 52% of them. It has also outpaced 27% of its competitors on a three year basis and 86% of them over the last year for the period ending 12/31/2014. On a year to date basis, BSE has returned 16.16%.

Downside risk has been below average. BSE has a draw down risk of -29.23%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 14.2%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 12/31/2014, the fund was trading at a price of $13.26, which is 0.1% below its 52-week high of $13.27 and 1.8% above its 52-week low of $13.03.

High expense ratio hinders performance. On total assets of $97.10 million, BSE maintains a high expense ratio compared to its Municipal Single State peers of 1.55% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As BSE is a closed end fund, it has no front end or back end load.

Manager tenure is a net positive but performance record lags managerial peers. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The BlackRock New York Muni Inc Qly has been managed by Timothy T. Browse for the last 9 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than just 15% of other fund managers.

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