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BlackRock National Municipal Fund (MANLX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Fund Info

ISIN

US09253C8762

CUSIP

09253C876

Issuer

Blackrock

Inception Date

Nov 1, 1979

Min. Investment

$2,000,000

Asset Class

Bond

Expense Ratio

MANLX has an expense ratio of 0.44%, placing it in the medium range.


Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


BlackRock National Municipal Fund

Popular comparisons:
MANLX vs. MUB
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Performance

Performance Chart


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S&P 500

Returns By Period

BlackRock National Municipal Fund (MANLX) returned -1.39% year-to-date (YTD) and 1.43% over the past 12 months. Over the past 10 years, MANLX returned 1.88% annually, underperforming the S&P 500 benchmark at 10.85%.


MANLX

YTD

-1.39%

1M

-0.51%

6M

-2.55%

1Y

1.43%

3Y*

1.32%

5Y*

0.66%

10Y*

1.88%

^GSPC (Benchmark)

YTD

0.51%

1M

6.15%

6M

-2.00%

1Y

12.92%

3Y*

12.68%

5Y*

14.19%

10Y*

10.85%

*Annualized

Monthly Returns

The table below presents the monthly returns of MANLX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.29%0.80%-1.28%-0.69%-0.51%-1.39%
2024-0.32%0.38%0.09%-0.80%-0.01%1.29%0.69%0.58%0.98%-1.18%1.38%-1.18%1.88%
20233.39%-2.46%1.78%0.07%-0.62%1.07%0.36%-1.12%-2.04%-0.95%4.88%1.98%6.25%
2022-2.58%-0.28%-3.46%-3.19%1.49%-2.65%2.93%-2.36%-4.90%-0.77%5.47%0.08%-10.21%
20210.86%-1.59%0.78%0.95%0.41%0.41%0.58%-0.38%-0.56%-0.38%0.94%0.27%2.28%
20201.63%1.07%-5.50%-1.47%3.41%1.65%1.71%-0.37%-0.11%-0.20%1.79%0.87%4.26%
20190.45%0.73%1.84%0.70%1.05%0.42%0.67%1.11%-0.51%0.02%0.38%0.31%7.40%
2018-0.94%-0.20%0.34%-0.21%1.10%0.08%0.07%0.07%-0.58%-0.87%0.93%0.84%0.62%
20170.56%0.57%0.29%0.46%1.37%-0.02%0.52%0.62%-0.20%0.16%-0.11%1.08%5.42%
20160.61%0.07%0.43%0.70%0.32%1.42%-0.20%0.15%-0.38%-0.75%-3.01%1.04%0.32%
20151.46%-0.52%0.29%-0.43%-0.26%-0.08%0.65%0.29%0.38%0.45%0.55%0.63%3.44%
20142.48%1.29%0.52%1.44%1.22%0.13%0.21%1.12%0.47%0.47%0.02%0.57%10.38%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of MANLX is 21, meaning it’s performing worse than 79% of other mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of MANLX is 2121
Overall Rank
The Sharpe Ratio Rank of MANLX is 2121
Sharpe Ratio Rank
The Sortino Ratio Rank of MANLX is 1717
Sortino Ratio Rank
The Omega Ratio Rank of MANLX is 2222
Omega Ratio Rank
The Calmar Ratio Rank of MANLX is 2121
Calmar Ratio Rank
The Martin Ratio Rank of MANLX is 2424
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for BlackRock National Municipal Fund (MANLX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

BlackRock National Municipal Fund Sharpe ratios as of May 31, 2025 (values are recalculated daily):

  • 1-Year: 0.26
  • 5-Year: 0.17
  • 10-Year: 0.48
  • All Time: 1.22

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of BlackRock National Municipal Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.


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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

BlackRock National Municipal Fund provided a 3.63% dividend yield over the last twelve months, with an annual payout of $0.36 per share. The fund has been increasing its distributions for 4 consecutive years.


2.00%2.50%3.00%3.50%$0.00$0.10$0.20$0.30$0.4020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.36$0.35$0.33$0.28$0.26$0.24$0.31$0.33$0.34$0.33$0.37$0.40

Dividend yield

3.63%3.46%3.20%2.83%2.25%2.07%2.79%3.12%3.12%3.07%3.37%3.63%

Monthly Dividends

The table displays the monthly dividend distributions for BlackRock National Municipal Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.03$0.03$0.03$0.03$0.00$0.12
2024$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
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$0.33
2022$0.02$0.02$0.02$0.02$0.02$0.02$0.03$0.03$0.03$0.03$0.03$0.03$0.28
2021$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.07$0.26
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$0.24
2019$0.03$0.03$0.03$0.03$0.03$0.03$0.02$0.02$0.02$0.02$0.02$0.03$0.31
2018$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.33
2017$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.34
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$0.33
2015$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.37
2014$0.04$0.04$0.04$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.40

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 National Municipal 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 National Municipal Fund was 15.87%, occurring on Oct 26, 2022. The portfolio has not yet recovered.

The current BlackRock National Municipal Fund drawdown is 4.34%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-15.87%Aug 5, 2021310Oct 26, 2022
-14.85%Mar 20, 1987152Oct 19, 1987172Jun 15, 1988324
-13.5%Jan 24, 2008226Dec 15, 2008108May 21, 2009334
-12.87%Oct 21, 1993282Nov 18, 1994212Sep 12, 1995494
-12.19%Mar 2, 202016Mar 23, 2020168Nov 18, 2020184
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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