BlackRock National Municipal Fund (MANLX)
| Fund Assets | 5.88B |
| Expense Ratio | 0.51% |
| Min. Investment | $2,000,000 |
| Turnover | 58.00% |
| Dividend (ttm) | 0.37 |
| Dividend Yield | 3.70% |
| Dividend Growth | 7.20% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Aug 29, 2025 |
| Previous Close | 9.87 |
| YTD Return | -0.62% |
| 1-Year Return | -0.46% |
| 5-Year Return | 0.71% |
| 52-Week Low | 9.58 |
| 52-Week High | 10.26 |
| Beta (5Y) | n/a |
| Holdings | 452 |
| Inception Date | Nov 2, 1979 |
About MANLX
BlackRock National Municipal Fund Institutional Shares is an actively managed municipal bond mutual fund designed to deliver a high level of income that is exempt from U.S. federal income taxes. The fund primarily invests at least 80% of assets in investment-grade and select high-yield municipal securities, with a typical intermediate interest-rate profile and effective duration around the mid-single digits. It allocates across essential-service revenue bonds and general obligation issuances, spanning sectors such as transportation, utilities, and state and local infrastructure, and may hold cash equivalents for liquidity management. Managed by BlackRock’s municipal fixed income team, the strategy emphasizes broad diversification and credit research, with hundreds of holdings and a focus on maturities generally five years or longer. The institutional share class targets large investors with a higher minimum investment and a below-1% expense ratio, seeking efficient, tax-advantaged income through monthly distributions. In the U.S. fixed income landscape, it serves as a core tax-exempt bond allocation for investors aiming to balance income generation with moderate interest-rate and credit risk within the national municipal market.
Performance
MANLX had a total return of -0.46% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.84%.
Top 10 Holdings
17.81% of assets| Name | Symbol | Weight |
|---|---|---|
| BlackRock Liquidity Funds - MuniCash | MCSXX | 5.09% |
| SOUTHEAST ENERGY AUTH COMMODITY SUPPLY REV ALA | AL.SEEPWR 11.01.2051 | 1.72% |
| SAN FRANCISCO CALIF CITY & CNTY PUB UTILS COMMN WASTEWATER REV | CA.SFOUTL 1 10.01.2026 | 1.67% |
| PATRIOTS ENERGY GROUP FING AGY S C GAS SUPPLY REV | SC.PEGUTL 02.01.2054 | 1.66% |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV | GA.MAIUTL 09.01.2053 | 1.59% |
| ENERGY SOUTHEAST ALA COOP DIST ENERGY SUPPLY REV | AL.ESDPWR 11.01.2053 | 1.56% |
| MICHIGAN FIN AUTH REV | MI.MISFIN 5 11.15.2041 | 1.27% |
| WASHINGTON D C MET AREA TRAN AUTH GROSS REV | DC.DCTGEN 5 07.01.2042 | 1.21% |
| CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV | CA.CASDEV 01.01.2065 | 1.09% |
| BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV | AL.BBEUTL 10.01.2054 | 0.95% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Aug 29, 2025 | $0.03159 | Aug 29, 2025 |
| Jul 31, 2025 | $0.03166 | Jul 31, 2025 |
| Jun 30, 2025 | $0.03158 | Jun 30, 2025 |
| May 30, 2025 | $0.03103 | May 30, 2025 |
| Apr 30, 2025 | $0.0317 | Apr 30, 2025 |
| Mar 31, 2025 | $0.03071 | Mar 31, 2025 |