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BlackRock New York Municipal Opportunities Fund
mutual fund
MDNKX
Payout Change
Pending
Price as of:
$10.77
-0.01
-0.09%
primary theme
Municipal Bond
share class
MDNKX (Mutual Fund)
BlackRock New York Municipal Opportunities Fund
Payout Change
Pending
Price as of:
$10.77
-0.01
-0.09%
primary theme
Municipal Bond
share class
MDNKX (Mutual Fund)
BlackRock New York Municipal Opportunities Fund
Payout Change
Pending
Price as of:
$10.77
-0.01
-0.09%
primary theme
Municipal Bond
share class
Name
As of 12/10/2024Price
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
Vitals
YTD Return
4.3%
1 yr return
5.8%
3 Yr Avg Return
0.7%
5 Yr Avg Return
1.5%
Net Assets
$1.22 B
Holdings in Top 10
15.5%
52 WEEK LOW AND HIGH
$10.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.88%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 15.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$100
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
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
MDNKX - Profile
Distributions
- YTD Total Return 4.3%
- 3 Yr Annualized Total Return 0.7%
- 5 Yr Annualized Total Return 1.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.39%
- Dividend Yield 3.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameBlackRock New York Municipal Opportunities Fund
-
Fund Family NameBlackRock-advised Funds
-
Inception DateNov 21, 1995
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTheodore Jaeckel
Fund Description
Under normal circumstances, the Fund will invest at least 80% of its assets in investment grade New York municipal bonds. For the purposes of the foregoing 80% policy, “assets” are the Fund’s net assets, plus the amount of any borrowings for investment purposes. The Fund’s investments in derivatives will be counted toward the foregoing 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market risk factors associated with such securities. New York municipal bonds may be obligations of a variety of issuers including governmental entities in New York and issuers located in Puerto Rico, the U.S. Virgin Islands and Guam. The interest on these obligations may not be exempt from the Federal Alternative Minimum Tax.
Municipal bonds also include short-term tax-exempt obligations, like municipal notes, variable rate demand obligations, private activity bonds and insured municipal bonds. The Fund may invest in both fixed rate and variable rate obligations.
The Fund may invest in bonds of any maturity. Under normal circumstances, the Fund seeks to maintain an average portfolio duration of zero to ten years. Duration is a mathematical calculation of the average life of a bond (or bonds in a bond fund) that serves as a useful measure of its price risk. Each year of duration represents an expected 1% change in the net asset value of a bond fund for every 1% immediate change in interest rates. For example, if a bond fund has an average duration of ten years, its net asset value would be expected to fall about 10% when interest rates rise by one percentage point, assuming all other factors remain equal. Conversely, the bond fund’s net asset value would be expected to rise about 10% when interest rates fall by one percentage point, assuming all other factors remain equal. Duration, which measures price sensitivity to interest rate changes, is not necessarily equal to average maturity. The Fund’s average weighted duration may vary significantly from time to time depending on the views of Fund management.
The Fund’s investment process begins with bottom-up, fundamental analysis focused on sector and security selection, and then incorporates a macroeconomic framework for evaluating and managing risk, including geographic, technical and economic risk. The Fund’s investment process is generally expected to place greater emphasis on duration management and capital structure compared to that of a more traditional municipal fixed-income fund. When selecting investments for the Fund, Fund management considers a variety of factors, including the credit quality of issuers and the yield and duration of the obligations.
The Fund is permitted to engage in transactions in derivatives, such as options or futures on a security or an index of securities (including, but not limited to, interest rate futures contracts, financial futures contracts and options thereon), for hedging purposes (including anticipatory hedges) or to seek to enhance returns. The Fund may also invest in other derivatives, such as swap agreements, including credit default swap agreements. Derivatives are financial instruments whose value is derived from another security or an index. Derivatives may allow the Fund to increase or decrease its risk exposure more quickly and efficiently than other types of instruments. The Fund may also invest in indexed and inverse floating rate obligations.
The Fund may leverage its assets through the use of proceeds received through tender option bond transactions. In a tender option bond transaction, the Fund transfers municipal bonds or other municipal securities into a special purpose entity (a “TOB Trust”). A TOB Trust typically issues two classes of beneficial interests: short-term floating rate interests (“TOB Floaters”), which are sold to third-party investors, and residual inverse floating rate interests (“TOB
Residuals”), which are generally issued to the Fund. The Fund may invest in TOB Residuals and may also invest in TOB Floaters. The Fund will look through to the underlying municipal bond held by a TOB Trust for purposes of the Fund’s 80% policy.
The Fund may invest up to 20% of its assets in securities that are not New York municipal bonds (including, but not limited to, taxable municipal bonds, U.S. Treasury and Government agency issues, and investment grade corporate bonds).
The Fund may also invest up to 20% of its assets in non-investment grade municipal bonds (high yield or junk bonds), including debt securities that at the time of purchase are in default or that the Fund’s management team believes will be in default.
The Fund may also buy when-issued securities and participate in delayed delivery transactions.
The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
MDNKX - Performance
Return Ranking - Trailing
| Period | MDNKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.3% | -4.4% | 40.7% | 22.10% |
| 1 Yr | 5.8% | -2.6% | 45.9% | 35.39% |
| 3 Yr | 0.7%* | -10.2% | 6.4% | 15.23% |
| 5 Yr | 1.5%* | -6.5% | 1105.2% | 16.62% |
| 10 Yr | 2.6%* | -0.9% | 249.0% | 9.87% |
* Annualized
Return Ranking - Calendar
| Period | MDNKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.6% | -1.4% | 41.0% | 19.66% |
| 2022 | -11.0% | -39.7% | 0.3% | 42.94% |
| 2021 | 3.0% | -5.6% | 6.9% | 2.27% |
| 2020 | -2.2% | -2.6% | 310.0% | 99.51% |
| 2019 | 4.1% | 0.0% | 26.0% | 38.66% |
Total Return Ranking - Trailing
| Period | MDNKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.3% | -4.4% | 40.7% | 22.10% |
| 1 Yr | 5.8% | -2.6% | 45.9% | 35.39% |
| 3 Yr | 0.7%* | -10.2% | 6.4% | 15.23% |
| 5 Yr | 1.5%* | -6.5% | 1105.2% | 16.62% |
| 10 Yr | 2.6%* | -0.9% | 249.0% | 9.87% |
* Annualized
Total Return Ranking - Calendar
| Period | MDNKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.1% | -1.3% | 41.0% | 16.50% |
| 2022 | -8.4% | -39.7% | 1.1% | 39.32% |
| 2021 | 5.6% | -4.8% | 23761504.0% | 2.61% |
| 2020 | 0.4% | -1.5% | 17057.9% | 98.46% |
| 2019 | 5.9% | 0.2% | 3514.6% | 65.80% |
NAV & Total Return History
MDNKX - Holdings
Concentration Analysis
| MDNKX | Category Low | Category High | MDNKX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.22 B | 3.22 M | 71.9 B | 27.49% |
| Number of Holdings | 357 | 4 | 13418 | 35.39% |
| Net Assets in Top 10 | 188 M | -317 M | 3.09 B | 23.51% |
| Weighting of Top 10 | 15.46% | 1.8% | 100.3% | 61.56% |
Top 10 Holdings
- BlackRock Liquidity Funds: MuniCash, Institutional Shares 2.97%
- NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE 1.75%
- Hudson Yards Infrastructure Corp 1.51%
- TRIBOROUGH NY BRIDGE TUNNEL AUTH SALES TAX REVENUE 1.40%
- LIBERTY DEV CORP NY REVENUE 1.40%
- NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE 1.33%
- NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE 1.31%
- NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT 1.29%
- UTILITY DEBT SECURITIZATION AUTH NY 1.28%
- NEW YORK CITY NY MUNI WTR FIN AUTH WTR SWR SYS REVENUE 1.23%
Asset Allocation
| Weighting | Return Low | Return High | MDNKX % Rank | |
|---|---|---|---|---|
| Bonds | 101.78% | 0.00% | 150.86% | 8.19% |
| Cash | 2.97% | -50.86% | 44.62% | 20.62% |
| Stocks | 0.00% | 0.00% | 99.78% | 77.32% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 75.29% |
| Other | 0.00% | -3.69% | 53.54% | 73.67% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 74.92% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MDNKX % Rank | |
|---|---|---|---|---|
| Municipal | 95.03% | 44.39% | 100.00% | 81.32% |
| Cash & Equivalents | 2.97% | 0.00% | 44.41% | 15.58% |
| Corporate | 1.26% | 0.00% | 9.41% | 2.16% |
| Derivative | 0.00% | -3.69% | 53.54% | 73.14% |
| Securitized | 0.00% | 0.00% | 5.93% | 74.98% |
| Government | 0.00% | 0.00% | 52.02% | 77.34% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MDNKX % Rank | |
|---|---|---|---|---|
| US | 101.78% | 0.00% | 142.23% | 8.19% |
| Non US | 0.00% | 0.00% | 23.89% | 77.30% |
MDNKX - Expenses
Operational Fees
| MDNKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.88% | 0.01% | 8.02% | 36.09% |
| Management Fee | 0.46% | 0.00% | 1.20% | 68.52% |
| 12b-1 Fee | 0.10% | 0.00% | 1.00% | 22.01% |
| Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
| MDNKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 4.75% | 58.97% |
| Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
| MDNKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
| MDNKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 15.00% | 0.00% | 283.00% | 41.87% |
MDNKX - Distributions
Dividend Yield Analysis
| MDNKX | Category Low | Category High | MDNKX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.29% | 0.00% | 14.51% | 33.89% |
Dividend Distribution Analysis
| MDNKX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| MDNKX | Category Low | Category High | MDNKX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.39% | -0.53% | 5.33% | 25.08% |
Capital Gain Distribution Analysis
| MDNKX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.030 | OrdinaryDividend |
| Oct 31, 2024 | $0.029 | OrdinaryDividend |
| Sep 30, 2024 | $0.030 | OrdinaryDividend |
| Aug 30, 2024 | $0.029 | OrdinaryDividend |
| Jul 31, 2024 | $0.030 | OrdinaryDividend |
| Apr 30, 2024 | $0.028 | OrdinaryDividend |
| Mar 28, 2024 | $0.028 | OrdinaryDividend |
| Feb 29, 2024 | $0.029 | OrdinaryDividend |
| Jan 31, 2024 | $0.028 | OrdinaryDividend |
| Dec 29, 2023 | $0.027 | OrdinaryDividend |
| Nov 30, 2023 | $0.028 | OrdinaryDividend |
| Oct 31, 2023 | $0.028 | OrdinaryDividend |
| Sep 29, 2023 | $0.027 | OrdinaryDividend |
| Aug 31, 2023 | $0.027 | OrdinaryDividend |
| Jul 31, 2023 | $0.026 | OrdinaryDividend |
| Jun 30, 2023 | $0.026 | OrdinaryDividend |
| May 31, 2023 | $0.026 | OrdinaryDividend |
| Apr 28, 2023 | $0.026 | OrdinaryDividend |
| Mar 31, 2023 | $0.026 | OrdinaryDividend |
| Feb 28, 2023 | $0.027 | OrdinaryDividend |
| Jan 31, 2023 | $0.025 | OrdinaryDividend |
| Dec 30, 2022 | $0.026 | OrdinaryDividend |
| Nov 30, 2022 | $0.026 | OrdinaryDividend |
| Oct 31, 2022 | $0.025 | OrdinaryDividend |
| Sep 30, 2022 | $0.025 | OrdinaryDividend |
| Aug 31, 2022 | $0.023 | OrdinaryDividend |
| Jul 29, 2022 | $0.024 | OrdinaryDividend |
| Jun 30, 2022 | $0.024 | OrdinaryDividend |
| May 31, 2022 | $0.023 | OrdinaryDividend |
| Apr 29, 2022 | $0.025 | OrdinaryDividend |
| Mar 31, 2022 | $0.022 | OrdinaryDividend |
| Feb 28, 2022 | $0.022 | OrdinaryDividend |
| Jan 31, 2022 | $0.021 | OrdinaryDividend |
| Dec 31, 2021 | $0.022 | OrdinaryDividend |
| Nov 30, 2021 | $0.022 | OrdinaryDividend |
| Oct 29, 2021 | $0.022 | OrdinaryDividend |
| Sep 30, 2021 | $0.021 | OrdinaryDividend |
| Aug 31, 2021 | $0.022 | OrdinaryDividend |
| Jul 30, 2021 | $0.022 | OrdinaryDividend |
| Jun 30, 2021 | $0.022 | OrdinaryDividend |
| May 28, 2021 | $0.022 | OrdinaryDividend |
| Apr 30, 2021 | $0.023 | OrdinaryDividend |
| Mar 31, 2021 | $0.022 | OrdinaryDividend |
| Feb 26, 2021 | $0.022 | OrdinaryDividend |
| Jan 29, 2021 | $0.022 | OrdinaryDividend |
| Dec 31, 2020 | $0.023 | OrdinaryDividend |
| Dec 08, 2020 | $0.001 | OrdinaryDividend |
| Nov 30, 2020 | $0.023 | OrdinaryDividend |
| Oct 30, 2020 | $0.022 | OrdinaryDividend |
| Sep 30, 2020 | $0.022 | OrdinaryDividend |
| Aug 31, 2020 | $0.022 | OrdinaryDividend |
| Jul 31, 2020 | $0.022 | OrdinaryDividend |
| Jun 30, 2020 | $0.022 | OrdinaryDividend |
| May 29, 2020 | $0.021 | OrdinaryDividend |
| Apr 30, 2020 | $0.021 | OrdinaryDividend |
| Mar 31, 2020 | $0.022 | OrdinaryDividend |
| Feb 28, 2020 | $0.022 | OrdinaryDividend |
| Jan 31, 2020 | $0.022 | OrdinaryDividend |
| Dec 31, 2019 | $0.024 | OrdinaryDividend |
| Dec 10, 2019 | $0.000 | CapitalGainShortTerm |
| Nov 29, 2019 | $0.002 | OrdinaryDividend |
| Oct 31, 2019 | $0.002 | OrdinaryDividend |
| Sep 30, 2019 | $0.002 | OrdinaryDividend |
| Aug 30, 2019 | $0.002 | OrdinaryDividend |
| Jul 31, 2019 | $0.002 | OrdinaryDividend |
| Dec 07, 2018 | $0.018 | CapitalGainShortTerm |
| Dec 07, 2018 | $0.120 | CapitalGainLongTerm |
| Dec 08, 2017 | $0.001 | CapitalGainShortTerm |
| Dec 09, 2016 | $0.001 | CapitalGainShortTerm |
| Dec 04, 2015 | $0.000 | CapitalGainShortTerm |
| Dec 05, 2014 | $0.000 | CapitalGainShortTerm |
| Dec 17, 2013 | $0.001 | CapitalGainShortTerm |
| Dec 19, 2012 | $0.001 | CapitalGainShortTerm |
| Dec 19, 2011 | $0.001 | CapitalGainShortTerm |
| Dec 20, 2010 | $0.001 | CapitalGainShortTerm |
MDNKX - Fund Manager Analysis
Managers
Theodore Jaeckel
Start Date
Tenure
Tenure Rank
Dec 31, 2006
15.42
15.4%
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.
James Pruskowski
Start Date
Tenure
Tenure Rank
Feb 18, 2015
7.28
7.3%
Pruskowski is a portfolio manager and Managing Director of BlackRock, Inc. since 2006. , his employer since 2000.
Michael Kalinoski
Start Date
Tenure
Tenure Rank
Feb 18, 2015
7.28
7.3%
Kalinoski, director at BlackRock, joined BlackRock following the merger with Merrill Lynch Investment Managers(MLIM) in 2006. Prior to joining MLIM in 1999, he was with Strong Capital Management. Mr. Kalinoski earned a B.S. degree in accounting from Marquette University in 1992. Kalinoski holds the Chartered Financial Analyst designation.
Peter Hayes
Start Date
Tenure
Tenure Rank
Feb 18, 2015
7.28
7.3%
Hayes is a managing director of BlackRock, Inc. Prior to joining BlackRock in 2006, he was a managing director of MLIM from 2000 to 2006 and was a first vice president of MLIM from 1997 to 2000. He has been a portfolio manager with BlackRock or MLIM since 1987.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.05 | 7.36 | 1.58 |
