C000199786 Fees and Costs — BlackRock High Yield Municipal Fund, Class K
Data updated: 2025-03-27
The net expense ratio is 0.53%: a 0.46% management fee plus 0.08% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $2K in broker commissions, 0.0001% of average net assets, and portfolio turnover was 34%.
C000199786 Fees and Expenses
Annual operating expenses and sales charges of C000199786. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.46% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.08% |
| Gross expense ratio | 0.55% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.53% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000199786 Costs Over Time
On $10,000 invested in C000199786, assuming 5% a year before costs, total costs come to $335 over 5 years, cutting the return by 0.56% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.53%) | $56 | $174 | $304 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $56 | $183 | $335 |
| Value after costs | $10,444 | $11,393 | $12,428 |
| Impact on return, per year | 0.56% | 0.56% | 0.56% |
C000199786 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0001%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $969.0M
- Portfolio turnover (prospectus): 34%
- Securities lending: none during the year
C000199786 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $2K | 68.11% |
| Barclays Capital Inc. | $750 | 31.89% |
C000199786 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Liquidity Funds - MuniCash | $467.0M | 49.35% |
| BNY Capital Markets, LLC | $179.5M | 18.97% |
| BofA Securities, Inc. | $70.5M | 7.45% |
| Wells Fargo Securities, LLC | $67.2M | 7.10% |
| Morgan Stanley & Co. LLC | $54.2M | 5.73% |
| RBC Capital Markets, LLC | $38.8M | 4.10% |
| J.P. Morgan Securities LLC | $23.7M | 2.51% |
| Goldman Sachs & Co. LLC | $22.6M | 2.39% |
| Jefferies LLC | $13.2M | 1.40% |
| Stifel, Nicolaus & Company, Incorporated | $9.6M | 1.02% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.