BMN ETF — Blackrock 2037 Municipal Target Term Trust

Blackrock 2037 Municipal Target Term Trust (BMN)

Updated October 16, 2026.

BMN is an ETF. its distribution rate is 5.32%, its trailing-12-month yield is 5.06%. Dividend Vision Distribution Safety Score™ is 93/100 (Safe). Total return is 6.0% over the past 4 years, 100.6 points behind SPY at 106.6%.

BlackRock 2037 Municipal Target Term Trust is a closed-end fund that invests primarily in investment-grade municipal securities rated BBB- or above (or equivalent), with a target maturity around 2037. The fund distributes monthly income at a current distribution rate in the mid-range and carries no publicly listed expense ratio. It appeals to income-focused investors seeking tax-advantaged municipal bond exposure with a defined time horizon.

BMN performance versus SPY

Price and return data through 2026-10-16.

Total return is 6.0% over the past 4 years, 100.6 points behind SPY at 106.6%. Over the past year its total return — price change plus distributions reinvested — is -7.0%. Its deepest 1-year drawdown was 19.7%.

BMN key facts

Distribution Safety Score™

93 · Safe

Safety-Adjusted Yield

4.95%

Issuer

BlackRock

Asset type

ETF

Asset class

Fixed Income

Inception date

10/28/2022

Distribution rate

5.32%

Distribution frequency

Monthly

Trailing yield

5.06%

Last close

$22.38 (as of 2026-10-16)

Market cap

$135,770,912

Average volume

61634.0

Dividend

$0.099

Ex-dividend date

10/15/2026

Payment date

11/02/2026

Expense ratio and AUM unavailable in this published snapshot. Missing values do not mean zero or complete coverage. ?

How Dividend Vision calculates yield and returns

Distribution rate (5.32%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (5.06%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: BlackRock; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

BMN risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 19.7%.

Who may consider BMN — and who may not

BMN may suit someone looking for a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on BMN

• All tickers starting with B

Tagged: Fixed Income.

Frequently asked questions

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