Snapshot: BBN

BLACKROCK BUILD AMERICA BOND TRUST

22.6701down-0.1599 (-0.70%)

 as of 3:15:03pm ET 03/02/2015

Please note: Closed end funds are subject to the risk of their underlying assets and investment strategy. Unlike open end funds, closed end funds trade on an exchange at a price which is often a discount to their net asset value (NAV). The market price may experience periods of increased volatility due to the use of leverage as well as market and fund illiquidity. Important information you should know about investing in closed-end funds.

Bid/Size 22.67/6
Ask/Size 22.68/8
Open 22.87
High 22.87
Low 22.67
Previous Close
AS OF 02/27/2015
22.83
Price Performance (Last 52 Wk) 14.72%
Volume 113,810
Volume (90-Day Average) 180,919
NAV (Daily) --
Bid/Ask Midpoint (Previous Day) --
Premium / Discount (1 Month Average)^
as of 01/31/2015
-6.22%
NAV
as of 02/27/2015
24.24
NAV Update Frequency DAY
Options No
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Security Type

Closed End Fund

Total Leverage Ratio

30.87%

Asset Class

Taxable Bond

Morningstar Category

Long-Term Bond

Prospectus Objective

Municipal Bond - National

Net Assets
AS OF 01/31/2015

$1.4B

Total Expense Ratio (Reported)
AS OF 07/31/2014

1.13%

Sponsor

BlackRock

Inception Date

08/27/2010

Financial Year-End

July 31, 2014

Benchmark Index

Long-Term Bond

Legal Structure

Closed End Fund

Total Holdings
AS OF 10/31/2014

128

Investment Objective Summary

Under normal market conditions, the Trust will invest at least 80% of its Managed Assets in Build America Bonds (BABs). The Trust may invest up to 20% of its Managed Assets in securities other than BABs, including taxable municipal securities that do not qualify for federal subsidy payments under the Act, tax-exempt municipal securities, U.S. Treasury securities and obligations of the U.S. Government, its agencies and instrumentalities. Under normal market conditions, the Trust will invest at least 80% of its Managed Assets in securities that at the time of investment are investment grade quality. Investment grade quality securities are securities rated within the four highest grades (Baa or BBB or better) by Moodys Investor Services, Inc. (Moodys), Standard & Poors Corporation Ratings Group, a division of The McGraw-Hill Companies, Inc. (S&P), or Fitch Ratings, Inc. (Fitch) or securities that are unrated but judged to be of comparable quality by its advisor. The Trust may invest up to 20% of its Managed Assets in securities that at the time of investment are rated below investment grade quality by Moodys, S&P or Fitch or that are unrated but judged to be of comparable quality by the Advisor or the Sub-Advisor. The Trust may implement various temporary defensive strategies at times when the Advisor or Sub-Advisor determines that conditions in the markets or the termination of the Trust makes pursuing the Trusts basic investment strategy inconsistent with the best interests of its shareholders. These strategies may include investing all or a portion of the Trusts assets in U.S. Government obligations and high-quality, short-term debt securities that may be either tax-exempt or taxable.

Learn More

News, Commentary & Events

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  • Low-Cost Exposure to Taxable Municipal Bonds

    BY Thomas Boccellari, Morningstar - 08/22/2014

    By investing in Build America Bonds, this fund gets exposure to taxable municipal bonds with interest payments subsidized by the federal government.

  • Bond Investors Still Playing Chicken With the Fed and Rates

    BY Sumit Desai, CFA, Morningstar - 07/04/2014

    At midyear 2014, taxable-bond CEF categories like bank loan and high yield--which had strong runs last year--have had muted success, while preferred stock leads the pack.

Analyst Opinions

Analyst Ratings

LAST CHANGE
Firm Name As of Date Action Rating Report
Morningstar, Inc.* 01/31/2015 Upgrade 4 out of 54 out of 54 out of 54 out of 54 out of 5
Overall - 5 Large Growth funds rated
--
More Analyst Opinions

Key Statistics

Bond Holdings Valuation AS OF 10/31/2014

Average Duration --
Average Maturity --
Average Coupon % --

Distributions as of 02/27/2015

Total Distribution Rate (Market Price) 6.93%
Total Distribution Rate (NAV) 6.52%

Leverage as of --

Total Leverage Ratio 30.87%
1940 Act Leverage Ratio 0.00%
Non-1940 Act Leverage Ratio 30.87%
See all Key Stats

Compare

BBN
BLACKROCK BUILD AMERICA BOND TRUST
Asset Class Median
Market Capitalization
AS OF 10/31/2014
2.0B 453.7M
Volume (10-Day Avg)
AS OF 02/27/2015
194.9K 72.9M
YTD Market Price Total Return
AS OF 01/31/2015
+5.37% +0.87%
1 Month Market Price Total Return
AS OF 01/31/2015
+5.37% +0.87%
1 Year Market Price Total Return
AS OF 01/31/2015
+28.98% +3.02%
1 Year NAV Total Return
AS OF 01/31/2015
+22.76% +2.88%
3 Year Annualized Market Price Total Return
AS OF 01/31/2015
+9.83% +3.02%
Beta (Market Price 1 Yr)
AS OF 01/31/2015
1.43 0.70
Annual Turnover Ratio
AS OF 7/31/2014
6.00% 46.00%
Total Expense Ratio (Reported)
AS OF 07/31/2014
1.59% 1.18%
Total Expense Ratio (Adjusted)
AS OF 07/31/2014
0.88% 1.05%
Compare to Other CEFs

Performance

Premium / Discount to NAV^ as of 01/31/2015

Premium Chart
Date Average
01/2015 -6.22%
12/2014 -7.71%
11/2014 -9.38%
10/2014 -8.28%
09/2014 -9.00%
08/2014 -6.94%
07/2014 -6.48%
06/2014 -5.28%
05/2014 -8.27%
04/2014 -8.42%
03/2014 -7.96%
Quarter-End Average Annual Total ReturnsAS OF 12/31/2014
NAV Return Market Return
1 Year +25.28% +24.77%
3 Year +10.28% +9.06%
5 Year -- --
10 Year -- --
Life +13.22% +10.37%
Life as of inception date: 08/27/2010       Gross Expense Ratio: 1.59

The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

More about Performance & Risk

Portfolio Composition

Reported by Fund Sponsor

Top 10 HoldingsAs of 10/31/2014

Metropolitan Government Of Nashville- Davidson County Convention Center Aut 3.67%
New Jersey St Tpk Auth 7.102% 3.61%
New Jersey St Transn Tr Fd Aut Tr 6.104% 3.51%
City Of Chicago Illinois Wastewater Transmission, Rb, Build America Bonds, 3.23%
Los Angeles Calif Dept Wtr & P Pw 6.166% 3.15%
Illinois St Go Bds 7.35% 3.1%
City Of San Antonio Texas, Refunding Rb, Build America Bonds, Junior Lien, 3.01%
County Of Franklin Ohio Convention Facilities Authority, Rb, Build America 2.94%
Regl Transn Dist 7.672% 2.74%
San Diego County Regional Airport Authority, Refunding Rb, Build America Bo 2.72%
Assets in Top 10 Holdings31.67%

Credit Quality  AS OF --

Type % Bonds
AAA --
AA --
A --
BBB --
BB --
B --
Below B --
Not Rated --

Maturity  AS OF 10/31/2014

% Bonds
10 to 15 Years 5.26
15 to 20 Years 5.50
1 to 3 Years 0.00
20 to 30 Years 73.93
3 to 5 Years 0.00
5 to 7 Years 0.00
7 to 10 Years 0.00
Over 30 Years 15.32
More about Portfolio Composition
*The Overall Morningstar RatingTM for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar Rating metrics. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a funds monthly performance (including the effects of sales charges, loads and redemption fees, if applicable), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)

The performance data shown represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. Distributions are not guaranteed and the amount of distributions will vary depending on a number of factors. Market prices and investment return will vary, therefore you may have a gain or loss when you sell your shares. Click on the "Performance & Risk" link to view quarter-end performance. All performance data is for the common shares of the fund. Total distribution rate (at market or NAV) may include unknown combinations of income, capital gains and return of capital.

Cumulative total returns are reported as of the period indicated. Life of fund figures are reported as of the commencement date to the period indicated.

^Premium/Discount to NAV represents the percentage by which the funds market price exceeds or is less than net asset value (NAV). Shares of closed-end funds frequently trade at a market price that is a discount to their NAV.

Top holdings are as of the date indicated and may not be representative of the funds current or future investments.

News, commentary and events are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.

Any data, charts and other information provided on this page are intended to help self-directed investors evaluate closed end funds. Criteria and inputs entered, including the choice to make closed end fund comparisons, are at the sole discretion of the user and are solely for the convenience of the user. Analyst opinions, ratings and reports are provided by third-parties unaffiliated with Fidelity. All information supplied or obtained from this page is for informational purposes only and should not be considered investment advice or guidance, an offer of or a solicitation of an offer to buy or sell a particular security, or a recommendation or endorsement by Fidelity of any security or investment strategy. Fidelity does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating closed end funds. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use. Determine which securities are right for you based on your investment objectives, risk tolerance, financial situation and other individual factors and re-evaluate them on a periodic basis.

© 2011 Morningstar, Inc. All rights reserved. The Morningstar information contained herein (1) is proprietary to Morningstar or its affiliates; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Before investing in any fund, you should consider its investment objective, risks, charges and expenses. Contact Fidelity for the most recent shareholder report for this information. Read it carefully. Please also review information provided by the fund on its web site.