BlackRock California Municipal Opportunities Fund (MACMX)
Under normal circumstances, the fund will invest at least 80% of its assets in California municipal bonds. At least 50% of its assets will be invested in investment grade securities. The fund may invest in both fixed rate and variable rate obligations. It may invest up to 50% of its assets in non-investment grade bonds.
Fund Info
US09252Y6068
09252Y606
Oct 24, 1988
$2,000,000
Expense Ratio
MACMX has an expense ratio of 0.44%, placing it in the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
BlackRock California Municipal Opportunities Fund (MACMX) returned 1.55% year-to-date (YTD) and 4.91% over the past 12 months. Over the past 10 years, MACMX returned 2.67% annually, underperforming the S&P 500 benchmark at 10.85%.
MACMX
1.55%
2.47%
0.59%
4.91%
3.03%
2.34%
2.67%
^GSPC (Benchmark)
0.51%
6.15%
-2.00%
12.92%
12.68%
14.19%
10.85%
Monthly Returns
The table below presents the monthly returns of MACMX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.38% | 0.88% | -0.94% | -1.20% | 2.47% | 1.55% | |||||||
| 2024 | 0.01% | 0.53% | -0.00% | -0.54% | 0.36% | 1.54% | 0.78% | 0.53% | 0.45% | -0.79% | 1.37% | -0.95% | 3.31% |
| 2023 | 2.54% | -1.67% | 0.83% | -0.10% | -0.35% | 0.07% | 0.50% | -0.85% | -1.97% | -0.96% | 5.63% | 1.70% | 5.25% |
| 2022 | -2.37% | -0.23% | -3.13% | -2.87% | 1.22% | -2.60% | 3.22% | -1.94% | -3.41% | -0.72% | 4.34% | 0.41% | -8.14% |
| 2021 | 1.57% | -1.00% | 1.41% | 0.78% | 0.61% | 0.46% | 0.45% | -0.31% | -0.54% | -0.08% | 0.84% | 0.45% | 4.71% |
| 2020 | 1.18% | 0.39% | -7.00% | -1.89% | 3.57% | 1.25% | 1.47% | -0.23% | 0.09% | -0.07% | 2.19% | 0.88% | 1.44% |
| 2019 | 0.07% | 1.14% | 1.13% | 1.34% | 0.37% | 0.21% | 0.90% | 0.43% | -0.21% | 0.02% | 0.41% | 0.48% | 6.45% |
| 2018 | -0.41% | 0.06% | 0.21% | 0.06% | 1.16% | 0.13% | 0.21% | 0.05% | -0.26% | -0.73% | 0.87% | -0.09% | 1.25% |
| 2017 | 0.59% | 0.51% | 0.66% | 0.34% | 1.70% | 0.01% | 0.96% | 0.24% | 0.23% | 0.23% | 0.15% | 1.41% | 7.23% |
| 2016 | 0.40% | -0.32% | 0.71% | 0.95% | 0.62% | 0.93% | -0.09% | 0.45% | -0.41% | -0.49% | -3.96% | 1.76% | 0.42% |
| 2015 | 1.58% | -0.41% | 0.06% | -0.42% | -0.03% | 0.14% | 0.46% | 0.37% | 0.37% | 0.78% | 0.84% | 1.07% | 4.89% |
| 2014 | 3.33% | 1.43% | 0.57% | 1.65% | 1.21% | 0.05% | 0.45% | 1.27% | 0.69% | 0.61% | -0.04% | 0.60% | 12.43% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of MACMX is 68, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for BlackRock California Municipal Opportunities Fund (MACMX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
BlackRock California Municipal Opportunities Fund provided a 3.45% dividend yield over the last twelve months, with an annual payout of $0.41 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.41 | $0.40 | $0.35 | $0.30 | $0.23 | $0.26 | $0.20 | $0.57 | $0.41 | $0.35 | $0.43 | $0.44 |
Dividend yield | 3.45% | 3.36% | 2.96% | 2.58% | 1.79% | 2.02% | 1.59% | 4.60% | 3.19% | 2.82% | 3.44% | 3.51% |
Monthly Dividends
The table displays the monthly dividend distributions for BlackRock California Municipal Opportunities Fund. 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.03 | $0.03 | $0.04 | $0.04 | $0.00 | $0.14 | |||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.40 |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.23 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.20 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.27 | $0.57 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.07 | $0.41 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.43 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.44 |
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 California Municipal Opportunities Fund. 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 California Municipal Opportunities Fund was 13.39%, occurring on Nov 18, 1994. Recovery took 128 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -13.39% | Oct 20, 1993 | 283 | Nov 18, 1994 | 128 | May 17, 1995 | 411 |
| -13.37% | Feb 28, 2020 | 17 | Mar 23, 2020 | 200 | Jan 6, 2021 | 217 |
| -13.06% | Jan 4, 2022 | 205 | Oct 26, 2022 | 445 | Aug 5, 2024 | 650 |
| -12.86% | Sep 12, 2008 | 25 | Oct 16, 2008 | 61 | Jan 14, 2009 | 86 |
| -12.11% | Dec 4, 2012 | 190 | Sep 5, 2013 | 221 | Jul 23, 2014 | 411 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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