In plain terms — BlackRock Corporate High Yield Fund
Shares currently cost about 11.5% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 6.8% discount, so today's level is somewhat wide for this fund (Z-score -1.4). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 12.1% a year of the share price (10.7% 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 $1.13 of assets — a ReinvestCapture™ rate of 13.7%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 0.3% 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 | -9.24% | 1.30% | -0.81 | 55 |
| 6 months | -8.21% | 1.44% | -1.44 | 107 |
| 1 year | -6.83% | 2.44% | -1.42 | 209 |
| 3 years | -2.05% | — | — | — |
| 5 years | -2.87% | — | — | — |
Current contemporaneous premium/discount -10.29% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -12.34% to -1.76%. 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 | -4.21% | -9.27% | -13.15% | -18.11% | -3.00% | -8.75% |
| Market price total return | -3.28% | -6.68% | -5.71% | -8.84% | +6.92% | +0.62% |
| NAV return | -2.89% | -4.89% | -9.33% | -9.23% | -1.01% | -6.25% |
| NAV total return | -2.04% | -2.41% | -2.19% | +0.31% | +8.89% | +3.07% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The BlackRock Corporate High Yield Fund, Inc. operates as a closed-end mutual fund with a focus on fixed income instruments. Managed by BlackRock Advisors, LLC, its investment strategy spans global fixed income markets. The fund primarily builds its portfolio with bonds issued by companies from a diverse range of sectors. A significant portion of its holdings consists of debt instruments rated Ba or lower by Moody's Investors Service, Inc., or BB or lower by Standard & Poor's Corporation, signifying a high-yield, below-investment-grade focus. Its mandate includes seeking out both domestic and international high-yield securities, such as corporate bonds, corporate loans, convertible debt, and preferred stocks, all characterized as below investment grade quality. Founded on May 30, 2003, this U.S.-domiciled fund was previously known as BlackRock Corporate High Yield Fund VI, Inc.
CEF Explorer research page for BlackRock Corporate High Yield Fund, Inc.. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.