In plain terms — BlackRock Credit Allocation Income Trust
Shares currently cost about 9.4% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 6.5% discount, so today's level is somewhat wide for this fund (Z-score -1.6). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 10.7% a year of the share price (9.7% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.10 of assets — a ReinvestCapture™ rate of 11.8%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 0.5% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -7.62% | 1.76% | -1.18 | 55 |
| 6 months | -7.48% | 1.41% | -1.57 | 107 |
| 1 year | -6.53% | 1.96% | -1.62 | 209 |
| 3 years | -6.09% | — | — | — |
| 5 years | -6.64% | — | — | — |
Current contemporaneous premium/discount -9.70% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -10.72% to -2.19%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -3.41% | -8.88% | -13.76% | -15.86% | -1.12% | -9.19% |
| Market price total return | -2.57% | -6.56% | -7.15% | -7.30% | +8.45% | -0.46% |
| NAV return | -2.25% | -4.67% | -8.28% | -9.08% | -0.82% | -7.43% |
| NAV total return | -1.48% | -2.41% | -1.77% | -0.45% | +8.19% | +0.86% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
BlackRock Credit Allocation Income Trust is a closed ended balanced mutual fund launched by BlackRock, Inc. The fund is co-managed by BlackRock Advisors, LLC and BlackRock (Singapore) Limited. It invests in the fixed income markets across the globe. For the fixed income portion of the portfolio, the fund primarily invests in securities with an average credit quality of BBB by Standard & Poor’s Corporation. It invests in investment grade corporate bonds, high yield bonds, bank loans, preferred securities or convertible bonds or derivatives. The fund was formerly known as BlackRock Preferred & Equity Advantage Trust. BlackRock Credit Allocation Income Trust was formed on December 27, 2006 and is domiciled in the United States.
CEF Explorer research page for BlackRock Credit Allocation Income Trust. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.