BlackRock Municipal 2030 Target Term Trust
Find Ratings Reports- Last Ratings Update:02/29/2024
- Price as of 02/29/2024 :$21.00
- Net Assets:$1,660.24 Million
- NAV:$23.94
- Premium-12.28%
- Peer Rank:55 of 116
- Investment Rating:D+
- Performance:D
- RiskB
We rate BlackRock Municipal 2030 Target Trm at D+. Negative factors that influence this rating include a high expense structure. The fund may be considered for investors seeking a Municipal - National strategy.
Total return ranks well below peers over the last three years. The BlackRock Municipal 2030 Target Trm has returned an annual rate of 2.40% since inception. More recently, the fund has generated a total return of 2.17% in the last five years, -3.09% in the last three years, and 2.84% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 38% of them. It has also outpaced 20% of its competitors on a three year basis and 25% of them over the last year for the period ending 2/29/2024. On a year to date basis, BTT has returned 1.60%.
Downside risk has been below average. BTT has a draw down risk of -26.35%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 12.5%. This fund has had moderate volatility in its monthly performance over the last 36 months.
High expense ratio hinders performance. On total assets of $1.66 billion, BTT maintains a high expense ratio compared to its Municipal - National peers of 2.52% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As BTT is a closed end fund, it has no front end or back end load.
Manager tenure and performance record are net positives. 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 Municipal 2030 Target Trm has been managed by a team for the last 12 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than 53% of other fund managers.