- ISIN
- US09262G1085
- CUSIP
- 09262G108
- Issuer
- BlackRock
- Inception Date
- Oct 28, 2022
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
BMN Performance Chart
Blackrock 2037 Municipal Target Term Trust (BMN) is down 0.3% since the beginning of the year. BMN is currently trading at $26 per share.
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Returns By Period
Blackrock 2037 Municipal Target Term Trust (BMN) has returned -0.27% so far this year and 7.24% over the past 12 months.
Blackrock 2037 Municipal Target Term Trust
- 1D
- -2.13%
- 1M
- 0.57%
- YTD
- -0.27%
- 6M
- 0.49%
- 1Y
- 7.24%
- 3Y*
- 5.58%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BMN Monthly Returns History
Based on dividend-adjusted daily data since Oct 27, 2022, BMN's average daily return is +0.02%, while the average monthly return is +0.42%. At this rate, an investment would double in approximately 13.8 years.
Historically, 60% of months were positive and 40% were negative. The best month was Nov 2023 with a return of +9.3%, while the worst month was Apr 2025 at -5.0%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, BMN closed higher 49% of trading days. The best single day was Nov 7, 2023 with a return of +3.7%, while the worst single day was Mar 12, 2026 at -2.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.20% | 4.77% | -4.61% | -1.58% | 1.98% | -0.79% | -0.27% | ||||||
| 2025 | 0.33% | 0.41% | -0.57% | -5.03% | 1.48% | 1.95% | -2.15% | 1.31% | 3.94% | 0.41% | -0.02% | 5.14% | 7.05% |
| 2024 | 2.12% | -1.14% | 1.61% | 0.18% | 1.30% | 2.12% | 0.87% | 1.31% | 2.46% | -2.35% | 3.74% | -0.10% | 12.65% |
| 2023 | 3.91% | -0.85% | 1.10% | 0.13% | -0.07% | -0.27% | 0.18% | -3.22% | -4.44% | -3.86% | 9.25% | 0.74% | 1.89% |
| 2022 | -0.04% | 1.47% | -4.23% | -2.86% |
Benchmark Metrics
Blackrock 2037 Municipal Target Term Trust has an annualized alpha of 4.42%, beta of 0.05, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since October 27, 2022.
- This fund participated in 53.59% of S&P 500 Index downside but only 30.20% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.05 may look defensive, but with R2 of 0.01 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.01 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.42%
- Beta
- 0.05
- R²
- 0.01
- Upside Capture
- 30.20%
- Downside Capture
- 53.59%
Expense Ratio
BMN has a high expense ratio of 0.93%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BMN ranks 8 for risk / return — in the bottom 8% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Blackrock 2037 Municipal Target Term Trust (BMN) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BMN | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.37 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 2.78 | -1.90 |
| Martin ratioReturn relative to average drawdown | 2.48 | 12.44 | -9.96 |
Dividends
Dividend History
Blackrock 2037 Municipal Target Term Trust provided a 4.40% dividend yield over the last twelve months, with an annual payout of $1.13 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $1.13 | $1.13 | $1.13 | $1.13 |
Dividend yield | 4.40% | 4.30% | 4.40% | 4.74% |
Monthly Dividends
The table displays the monthly dividend distributions for Blackrock 2037 Municipal Target Term Trust. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.56 | ||||||
| 2025 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $1.13 |
| 2024 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $1.13 |
| 2023 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.10 | $1.13 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Blackrock 2037 Municipal Target Term Trust. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Blackrock 2037 Municipal Target Term Trust was 13.04%, occurring on Oct 30, 2023. Recovery took 130 trading sessions.
The current Blackrock 2037 Municipal Target Term Trust drawdown is 5.83%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 correction2023 | -13.04%Oct 2023 | 5mo 21d | 6mo 10d | 12mo 1dMay 2023 - May 2024 |
2026 pullback2026 | -8.18%May 2026 | 1mo 29d | — | 3mo 22dMar 2026 - now |
2025 selloff2025 | -7.88%Apr 2025 | 1mo 7d | 5mo 3d | 6mo 10dMar 2025 - Sep 2025 |
Bear market2022 | -4.50%Dec 2022 | 1mo 6d | 2mo 21d | 3mo 27dNov 2022 - Mar 2023 |
2024 pullback2024 | -3.60%May 2024 | 12d | 1mo 17d | 1mo 29dMay 2024 - Jul 2024 |
Drawdown Indicators
| BMN | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.04% | -56.78% | +43.74% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -9.10% | +0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -12.41% | -18.90% | +6.49% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -5.83% | -1.80% | -4.03% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -10.71% | +8.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 2.03% | +0.90% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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