Interactive chart displaying fund performance. BlackRock Closed-End Funds For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 0.00%. Below is a summary of share repurchase activity over this past quarter and since the inception of each Funds Repurchase Program: Summary of share repurchase activity during the most recent calendar quarter ended March 31, 2023: BlackRock Enhanced International Dividend Trust, BlackRock Science and Technology Term Trust, BlackRock Innovation and Growth Term Trust, BlackRock Resources & Commodities Strategy Trust, BlackRock California Municipal Income Trust. Learn more about TEAF at the Ecofin provider site. EMO allows you to get access to some of the biggest and best names in the MLP space without all the irritating tax complications. A Form 1099-DIV for the calendar year will be sent to shareholders to illustrate how the Funds distributions should be reported for federal income tax purposes. But PHYS, because it is a closed-end fund, can and does often trade at a discount to net asset value. . The financial markets have in recent years experienced periods of extreme secondary market supply and demand imbalance, resulting in a loss of liquidity during which market prices were suddenly and substantially below traditional measures of intrinsic value. It also yields a very juicy 9.9%. So anyone buying today can enjoy the 8.2% dividend while waiting for the discount to close. Copyright 2023 Morningstar, Inc. All rights reserved. How we use your information depends on the product and service that you use and your relationship with us. As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. 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 reference to BlackRocks website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRocks website in this release. Explore BlackRock's mutual funds and iShares ETFs and closed-end funds. It doesn't really "do" anything. 1-800-882-0052, View source version on businesswire.com: https://www.businesswire.com/news/home/20230411005761/en/. Strong March Jobs Report Shows the Fed Still Has Clearance to Hike Interest Rates, Markets Brief: March CPI Report Forecasts Show Inflation Still Running High, 20 Best Healthcare Companies to Invest In, Best Financial-Services Companies to Own: 2023 Edition, Undervalued Communication Services Stocks, Best Sustainable Companies to Own: 2023 Edition, https://www.businesswire.com/news/home/20230411005761/en/. Under normal market conditions, the Trust will invest at least 80% of its total assets in equity securities . Distributions are a key part of a CEFs total return - find out how much your CEF has paid in distributions over time. 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. Carbon Transition Readiness ETF, BlackRock World ex U.S. 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. A return of capital may occur, for example, when some or all of a shareholder's investment is paid back to the shareholder. The closing price and net asset value (NAV) of a funds shares will fluctuate with market conditions. BlackRocks purpose is to help more and more people experience financial well-being. In these cases, they're effectively worth more dead than alive! Leave the BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for individuals. CEF shares are bought and sold at market price determined by competitive bidding on the stock exchange. 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. Symbol Last Price Change % Change; BDJ. NY 10036. From 2008 to 2021, the U.S. was the unquestioned leader of the global bull market. Periods of such market dislocation may occur again at any time. * Includes 1.43% in management fees, 0.22% in other expenses and 0.37% in interest expenses. The problem, of course, is that cheap CEFs can stay cheap forever in the absence of a catalyst to close the discount to NAV. These products and services are usually sold through license agreements or subscriptions. The chart assumes Fund expenses, including management fees and other expenses were deducted. BlackRock provides compensation in connection with obtaining or using third-party ratings and rankings. Published 30 November 22. stocks The . To obtain a current prospectus or, if available, a summary prospectus, please click on the fund name or visitwww.iShares.comorwww.blackrock.com. It owns essentially the same collection of REITs you'd expect to find in any mutual fund or exchange-traded fund (ETF), such as logistics REIT Prologis (PLD (opens in new tab)), data center REIT Equinix (EQIX (opens in new tab)) or self-storage operator Public Storage (PSTG (opens in new tab)), but it has the added benefit of owning them at a discount. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. . This information can be found in the "Closed-End Funds" section of www.blackrock.com. For those in a high tax bracket, that's a game changer. But here's the fun part and what makes TEAF one of the best closed-end funds to own: The CEF is designed to liquidate in 2031. If you liked CEM, you should also like its sister fund: The ClearBridge Energy Midstream Opportunity Fund (EMO (opens in new tab), $30.67). A Funds repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. Good old-fashioned gold. You're not going to get wealthy on that, of course. REITs are a fine way to get exposure to real estate. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. All other trademarks are those of their respective owners. By Lisa Springer Resilient real estate stocks are an apt choice amid heightened inflation and market uncertainty. To reach a different BlackRock site directly, please update your user type. Develop and improve features of our offerings. 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. Read the prospectus carefully before investing. When evaluating fund performance, it is important to note that it does not represent actual performance of such share class. From 2006 to 2009, he was an investment research analyst at Citigroup responsible for global software. Performance information shown without sales charge would have been lower if the applicable sales charge had been included. (opens in new tab). By Jeff Reeves 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. But when bond yields surged last year and bond prices collapsed REIT prices also fell in sympathy. Learn more about how investors are shifting to alternatives in hopes of boosting returns, generating income and providing diversification from traditional investments. Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Investors who purchase shares of the fund through an investment adviser or other financial professional may separately pay a fee to that service provider. Use Shift+Tab keys to browse. Kiplinger is part of Future plc, an international media group and leading digital publisher. The performance quoted represents past performance and does not guarantee future results. Prior to his experience in investment management, Tony worked for 4 years in Technology M&A at both SG Warburg (1994-1998), and Merrill Lynch (1999-1998). Investors should read and consider it carefully before investing. Another nice aspect of CEFs is that, unlike mutual funds, they can use debt leverage to juice their returns. Related Quotes. Source: Lipper. Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments. Unlike open end funds, closed end funds trade on an exchange at a price which is often a discount to their net asset value (NAV). Data reflects different methodology from the BlackRock calculated returns in the Returns tab. Distribution rate is an annualized reflection of the most recent payout and is a standard measure for CEFs. 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. PHYS is not the only way to play gold, of course. Data is as of Jan. 30. This and other information can be found in the Funds' prospectuses. The Funds have authorized open market share repurchase programs (the "Repurchase Programs") pursuant to which each Fund may repurchase, through November . 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. That's been a rough business to be in since the domestic energy glut became an issue in late 2014. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. Data reflects different methodology from the BlackRock calculated returns in the Returns tab. Performance during periods of exceptional market conditions should not be expected to be repeated in a normal market environment. The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, BlackRock). These seven stocks could benefit the most (and least) from the Inflation Reduction Act, which has been signed into law. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower. 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. Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. But BTT is a good place to park cash for the rest of this decade to get a competitive, tax-free yield. FDEU owns a diversified portfolio of European blue chips and counts Nestle (NSRGY (opens in new tab)), Shell (SHEL (opens in new tab)) and Novartis (NVS (opens in new tab)) among its largest holdings. ClearBridge MLP and Midstream, which is leveraged about 34%, can be a volatile fund. Performance for other share classes will vary. Standardized performance and performance data current to the most recent month end may be obtained by clicking on the fund names above. The starting NAV for the NAV performance chart reflects a deduction of the sales charge from the initial public offering price. These growth ETFs offer exposure to higher-risk, higher-reward stocks while lessening the risk of a single stock torpedoing your returns. I consult or invest on behalf of a financial institution. BLACKROCK and BUILD ON BLACKROCK are registered and unregistered trademarks of BlackRock, Inc or its subsidiaries in the United States and elsewhere. The financial markets have in recent years experienced periods of extreme secondary market supply and demand imbalance, resulting in a loss of liquidity during which market prices were suddenly and substantially below traditional measures of intrinsic value. (opens in new tab), The 9 Best Monthly Dividend Stocks to Buy Right Now. 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. (opens in new tab). To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. BlackRock Municipal Target Term Trust's (BTT) (the 'Trust') investment objectives are to provide current income exempt from regular federal income tax (but which may be subject to the federal alternative minimum tax in certain circumstances) and to return $25.00 per common share (the initial offering price per share) to holders of common shares on or about December 31, 2030. The Information has not been submitted to, nor received approval from, the US SEC or any other regulatory body. 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. Because it is important to note that it does not guarantee Future results discount! Month end may be exposed through its investments the BlackRock site directly, please click the. % dividend while waiting for the rest of this decade to get a competitive, yield. 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