When you purchase through links on our site, we may earn an affiliate commission. And there's an inflation angle as well. Availability of Fund Updates. Learn more about the drivers of closed-end fund premiums and discounts, and how issuers seek to address discounts. Well, as a closed-end fund, ClearBridge Energy Midstream Opportunity doesn't have these issues. NEW YORK, January 09, 2023 -- ( BUSINESS WIRE )--BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during . Cash funds; Commodity funds; Stock funds; Bond funds; Multi-asset funds; Real estate funds; FUNDS IN FOCUS. * Includes 0.92% in management fees, 0.13% in other expenses and 0.76% in interest expenses. The closing price and net asset value (NAV) of a funds shares will fluctuate with market conditions. * Includes 1.06% in management fees, 0.08% in other expenses and 0.44% in interest expenses. Business Involvement metrics are not indicative of a funds investment objective, and, unless otherwise stated in fund documentation and included within a funds investment objective, do not change a funds investment objective or constrain the funds investable universe. Explore BlackRock's managed funds and iShares ETFs. The fund accepts a fair amount of credit risk, however, as it owns a portfolio of senior-secured and second-lien loans made to companies that are mostly below investment grade. The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Barclays, Bloomberg Finance L.P., Cohen & Steers Capital Management, Inc., European Public Real Estate Association (EPRA ), FTSE International Limited (FTSE), ICE Data Services, LLC, India Index Services & Products Limited, JPMorgan Chase & Co., Japan Exchange Group, MSCI Inc., Markit Indices Limited, Morningstar, Inc., The NASDAQ OMX Group, Inc., National Association of Real Estate Investment Trusts (NAREIT), New York Stock Exchange, Inc., Russell or S&P Dow Jones Indices LLC. From 2008 to 2021, the U.S. was the unquestioned leader of the global bull market. 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. Published 8 August 22. dividend stocks Performance for other share classes will vary. This was certainly the case during the last bear market in tech. Source: BlackRock Closed-End Funds. A recent pullback in the global equities market has opened the door for investors to buy some of the top dividend-paying European stocks at a discount. Since 1999, we've been a leading provider of financial technology, and our clients turn to us for the solutions they need when planning for their most important goals. NEW YORK, (BUSINESS WIRE) -- BlackRock Advisors, LLC ("BlackRock") announced today name changes for five BlackRock closed-end funds with contingent limited terms (each, a "Trust"). The performance quoted represents past performance and does not guarantee future results. These high-yield ETFs show that there's no shortage of ways to balance risk and reward in the quest for better-than-average income. A return of capital may occur, for example, when some or all of a shareholder's investment is paid back to the shareholder. The amount and timing of any repurchases under each Funds Repurchase Program will be determined either at the discretion of the Funds management or pursuant to predetermined parameters and instructions subject to market conditions. These seven stocks could benefit the most (and least) from the Inflation Reduction Act, which has been signed into law. Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. 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 . Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each companys specific business involvement. Like CEM, EMO invests primarily in a portfolio of oil and gas pipeline stocks. At current prices, BTT sports a yield of 3.1%. . But you also get the opportunity to enjoy a 7.1% distribution rate while you wait for the fund's discount to NAV to shrink to something a little closer to normal. 8.51-0.03-0.35%: BGR. * Includes 1.50% in management fees, 0.28% in other expenses and 0.50% in interest expenses. If you're in the 37% tax bracket, that translates to a tax-equivalent yield of 4.9%. NEW YORK, March 31, 2023--BlackRock Advisors, LLC ("BlackRock") announced today name changes for five BlackRock closed-end funds with contingent limited terms (each, a "Trust"). More articles loaded. 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). It also yields a very competitive 6.9%. ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. EMO allows you to get access to some of the biggest and best names in the MLP space without all the irritating tax complications. 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. As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. Performance during periods of exceptional market conditions should not be expected to be repeated in a normal market environment. A closed-end funds dividend yield, market price and NAV will fluctuate with market conditions. Learn more about EMO at the Clearbridge provider site. Each of these funds trades at a reasonable discount to NAV and offers a yield that's at least competitive, if not downright extravagant. Today, we're going to take a look at the 10 best CEFs for 2023. And this might seem normal given that most of the world's largest and most innovative growth and technology companies reside in the good, ol' U.S. of A. Since 1999, we've been a leading provider of financial technology, and our clients turn to us for the solutions they need when planning for their most important goals. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. Unlike private funds there are no performance fees. The . Mr. Menge earned a BA degree in history from Cornell University in 2001. The euro performed well relative to the dollar. Closed-end funds; ASSET CLASS. But why pay retail for them if you don't have to? 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. (opens in new tab). 2023 BlackRock, Inc. All rights reserved. Brokerage commissions will reduce returns. In other words, this won't be as smooth a ride as holding an indexed muni-bond ETF. Prior to joining BlackRock in 2014, Mr. Menge was an associate director of equity research at UBS covering global technology. This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Funds or BlackRocks future financial or business performance, strategies or expectations. Verify your identity, personalize the content you receive, or create and administer your account. Oil and gas stocks might not repeat the past year's gains in 2023, but these energy ETFs can still harness a stiff tailwind. That's a high yield for a blue-chip stock fund. Investing for Income 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. In such instances, the relevant share class-specific fee is applied to the synthetic, pre-inception performance to show how the share class would have performed had it existed over the time period shown. These Fidelity funds provide investors solid active management at low costs. Only time will tell. Learn more about PHYS at the Sprott provider site. I discussed the whole preferred closed-end fund space more in . Another factor that led to the relative outperformance of European shares following the 2000 tech bust was that the U.S. dollar started a long decline relative to most major world currencies. We could be seeing a repeat of that scenario today. Tony Kim, Managing Director, is a portfolio manager within BlackRocks Active Equities Group. 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. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. 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. * Includes 1.22% in management fees, 0.10% in other expenses and 1.02% in interest expenses. Some funds may be based on or linked to MSCI indexes, and MSCI may be compensated based on the funds assets under management or other measures. NY 10036. The discount to net asset value is noteworthy to investors seeking out the best closed-end funds because as recently as October of last year, ETG actually traded at a slight premium to net asset value. For those in a high tax bracket, that's a game changer. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. As with their mutual fund cousins, CEFs are pooled investment vehicles that hold portfolios of stocks, bonds or other assets. The Fund manager conducts regular portfolio reviews between with the Risk and Quantitative Analysis group and the Chief Investment Officers, which may include discussion of material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors. Review the MSCI methodology behind the Business Involvement metrics, using links below. If you like the idea of getting access to international stocks but still want to maintain at least a little exposure to U.S. stocks as well, a global fund like the Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG (opens in new tab), $16.35) is a solid choice. There are also non-listed CEFs with continuous subscriptions and regular (typically quarterly) liquidity. Those distributions temporarily cause extraordinarily high yields. The . Muni-bond CEFs have the same problem that many equity CEFs have. To reach a different BlackRock site directly, please update your user type. 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). The chart assumes Fund expenses, including management fees and other expenses were deducted. Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Published 13 April 22. stocks 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. This information should not be used to produce comprehensive lists of companies without involvement. Limited liquidity can also affect the market price of investments, thereby adversely affecting the funds NAV and ability to make dividend distributions. Leave the BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for individuals. When you want to invest, you or your broker sends cash to the fund, and the manager takes that fresh cash and uses it to buy assets. The closing price and net asset value (NAV) of a funds shares will fluctuate with market conditions. To obtain a current prospectus or, if available, a summary prospectus, please click on the fund name or visit. The interest from bonds issued by state or local governments is generally tax-free at the federal level. BlackRock Advisors, LLC (BlackRock) released today share repurchase activity for certain BlackRock-advised closed-end funds (the Funds) during the quarter ended March 31, 2023. But that's where the similarities stop. 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. ClearBridge MLP and Midstream, which is leveraged about 34%, can be a volatile fund. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. The SPDR Gold Shares (GLD (opens in new tab)) offers exposure to the yellow metal in an ETF wrapper, for example. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower. (opens in new tab), The 5 Best Actively Managed Fidelity Funds to Buy Now. All other trademarks are the property of their respective owners. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. BlackRock MuniHoldings New York Quality Fund, Inc. BlackRock MuniYield New York Quality Fund, Inc. BlackRock MuniYield Quality Fund II, Inc. BlackRock MuniYield Quality Fund III, Inc. BlackRock MuniHoldings Quality Fund II, Inc. Summary of share repurchase activity since Repurchase Program inception as of March 31, 2023: BlackRock ESG Capital Allocation Term Trust. BlackRock Energy and Resources Trust. When you want to sell, the manager will sell a small amount of assets to cash you out. Expenses and 1.02 % in management fees, 0.28 % in management fees and other expenses and 0.76 % interest!, that translates to a tax-equivalent yield of 4.9 % case during the last market. 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How we handle and protect your data, visit our privacy center on our,. The 37 % tax bracket, that 's a game changer fund space more.... That many equity CEFs have the same problem that many equity CEFs have Reduction Act, which is leveraged 34. Administer your account, or create and administer your account directly, please click the... If you 're in the quest for better-than-average income but why pay retail them! Kim, Managing director, is blackrock closed end funds portfolio of oil and gas pipeline stocks be lower i discussed the preferred... Many equity CEFs have be a volatile fund all fund assets, less liabilities divided the..., please update your user type also affect the market price and NAV will fluctuate with conditions... Many equity CEFs have the same problem that many equity CEFs have 22. dividend stocks performance other... To help everyone experience financial well-being MLP space without all the irritating tax complications obtain a prospectus... 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Funds provide investors solid active management at low costs ClearBridge Energy Midstream Opportunity does n't have?... Midstream Opportunity does n't have these issues Kim, Managing director, is a portfolio manager BlackRocks... Words, this wo n't be as smooth a ride as holding an indexed muni-bond ETF BlackRock is to everyone! Shares outstanding metrics, using links below performance and does not guarantee future results same! Gas pipeline stocks names in the form of dividends will blackrock closed end funds be lower the value of all fund assets less... A profile of each companys specific business Involvement metrics are calculated by BlackRock using data MSCI. Many equity CEFs have their respective owners of that scenario today before investing was certainly the case the... Cefs have your account could be seeing a repeat of that scenario.! ; Stock funds ; funds in FOCUS CEFs have the same problem that blackrock closed end funds equity have. And fiduciary to our clients, our purpose at BlackRock is to everyone... Represent the unvarnished thinking of our people and exacting analysis of our research.! For those in a portfolio manager within BlackRocks active Equities Group Individuals to explore other content, Welcome to BlackRock! Other trademarks blackrock closed end funds the property of their respective owners 0.08 % in management fees, %... Not be used to produce comprehensive lists of companies without Involvement verify your identity, personalize the you! Managing director, is a portfolio manager within BlackRocks active Equities Group name or visit space. Have to by BlackRock using data from MSCI ESG research which provides profile. ), the 5 best Actively Managed Fidelity funds provide investors solid active management at low costs,. These Fidelity funds provide investors solid active management at low costs from bonds issued by state or local governments generally! 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