BlackRock National Municipal Fund (MANLX)
The investment seeks to provide shareholders with as high a level of income exempt from Federal income taxes as is consistent with the investment policies of the fund. The fund seeks to achieve its objective by investing at least 80% of its assets in municipal bonds. Although the advisor intends to invest at least 65% of the fund's net assets in municipal bonds rated investment grade or in unrated municipal bonds that fund management believes are of comparable quality, it is possible that in the future the fund could invest up to 100% of its assets in "junk bonds." It will primarily invest in municipal bonds that have a maturity of five years or longer.
Fund Info
US09253C8762
09253C876
Nov 1, 1979
$2,000,000
Expense Ratio
MANLX has an expense ratio of 0.44%, placing it in the medium range.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in BlackRock National Municipal Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
BlackRock National Municipal Fund (MANLX) returned -1.19% year-to-date (YTD) and 1.22% over the past 12 months. Over the past 10 years, MANLX returned 1.83% annually, underperforming the S&P 500 benchmark at 10.56%.
MANLX
-1.19%
-1.20%
-1.01%
1.22%
1.21%
1.83%
^GSPC (Benchmark)
-3.31%
0.28%
-0.74%
12.29%
15.01%
10.56%
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.30% | 0.80% | -1.28% | -1.01% | 0.00% | -1.19% | |||||||
| 2024 | -0.31% | 0.38% | 0.09% | -0.80% | -0.01% | 1.29% | 0.68% | 0.58% | 0.97% | -1.17% | 1.38% | -1.17% | 1.89% |
| 2023 | 3.39% | -2.46% | 1.78% | 0.07% | -0.62% | 1.07% | 0.36% | -1.12% | -2.04% | -0.96% | 4.88% | 1.97% | 6.23% |
| 2022 | -2.58% | -0.28% | -3.46% | -3.19% | 1.49% | -2.65% | 2.93% | -2.36% | -4.90% | -0.77% | 5.46% | 0.07% | -10.21% |
| 2021 | 0.86% | -1.58% | 0.77% | 0.95% | 0.41% | 0.41% | 0.58% | -0.38% | -0.56% | -0.38% | 0.94% | -0.21% | 1.80% |
| 2020 | 1.63% | 1.07% | -5.50% | -1.47% | 3.41% | 1.65% | 1.71% | -0.37% | -0.11% | -0.20% | 1.79% | 0.87% | 4.28% |
| 2019 | 0.45% | 0.73% | 1.84% | 0.71% | 1.06% | 0.42% | 0.67% | 1.11% | -0.51% | 0.03% | 0.38% | 0.20% | 7.28% |
| 2018 | -0.94% | -0.20% | 0.35% | -0.21% | 1.09% | 0.07% | 0.06% | 0.08% | -0.58% | -0.86% | 0.94% | 0.85% | 0.62% |
| 2017 | 0.56% | 0.57% | 0.29% | 0.46% | 1.37% | -0.02% | 0.53% | 0.61% | -0.20% | 0.16% | -0.11% | 1.08% | 5.42% |
| 2016 | 0.61% | 0.07% | 0.43% | 0.70% | 0.33% | 1.42% | -0.20% | 0.15% | -0.38% | -0.75% | -3.01% | 1.04% | 0.32% |
| 2015 | 1.47% | -0.52% | 0.29% | -0.44% | -0.26% | -0.08% | 0.66% | 0.28% | 0.38% | 0.45% | 0.55% | 0.63% | 3.44% |
| 2014 | 2.48% | 1.29% | 0.52% | 1.44% | 1.22% | 0.13% | 0.21% | 1.12% | 0.48% | 0.46% | 0.02% | 0.57% | 10.38% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of MANLX is 33, 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 National Municipal Fund (MANLX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
BlackRock National Municipal Fund provided a 3.30% dividend yield over the last twelve months, with an annual payout of $0.32 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.32 | $0.35 | $0.33 | $0.28 | $0.26 | $0.24 | $0.31 | $0.33 | $0.34 | $0.33 | $0.37 | $0.40 |
Dividend yield | 3.30% | 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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.03 | $0.03 | $0.03 | $0.00 | $0.00 | $0.09 | |||||||
| 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.
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 16.26%, occurring on Oct 26, 2022. The portfolio has not yet recovered.
The current BlackRock National Municipal Fund drawdown is 4.61%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -16.26% | Aug 5, 2021 | 310 | Oct 26, 2022 | — | — | — |
| -14.74% | Mar 20, 1987 | 148 | Oct 19, 1987 | 166 | Jun 15, 1988 | 314 |
| -13.95% | Jul 1, 1980 | 303 | Sep 10, 1981 | 158 | Apr 27, 1982 | 461 |
| -13.5% | Jan 24, 2008 | 227 | Dec 15, 2008 | 108 | May 21, 2009 | 335 |
| -12.87% | Oct 21, 1993 | 274 | Nov 18, 1994 | 204 | Sep 12, 1995 | 478 |
Volatility
Volatility Chart
The current BlackRock National Municipal Fund volatility is 4.65%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.