PERFORMANCE


Cum. Fund Perf. Since Inception: 142.26%

Source: Lipper. Data reflects different methodology from the BlackRock calculated returns in the Returns tab. The $10,000 Hypothetical Over Time chart reflects a hypothetical $10,000 investment in the investor class of shares noted and does not assume the max sales charge. Had sales charge been included, returns would have been lower. The chart uses total return NAV performance and assumes reinvestment of dividends and capital gains. Fund expenses, including 12b-1 fees, management fees and other expenses were deducted. Performance for other share classes will vary.


The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.
as of
  1y 3y 5y 10y Incept.  
3.64 2.39 4.19 4.99 5.55
Benchmark (%)  

as of 31-Aug-2014

- - - - -
Morningstar Category Avg. (%)   2.77 1.27 3.08 3.85 -
Lipper Category Avg. (%)   3.24 1.46 3.36 4.24 -
as of
  YTD 1m 3m 1y 3y 5y 10y Incept.  
4.56 -0.28 -0.09 3.64 7.34 22.80 62.68 142.26
Benchmark (%)  

as of 31-Aug-2014

- - - - - - - -
Morningstar Category Avg. (%)   3.37 -0.27 0.10 2.77 3.87 16.37 45.88 -
Lipper Category Avg. (%)   3.80 -0.01 0.13 3.24 4.46 18.00 51.71 -
Lipper Ranking   27/66 5/62 5/59 6/49
as of
  2009 2010 2011 2012 2013
Total Return (%)   6.06 7.62 6.97 4.14 -2.54
Benchmark (%)   5.37 6.67 7.90 2.42 -2.12
Morningstar Category Avg. (%)   4.74 5.66 6.70 2.80 -2.72


The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Interactive chart displaying fund performance. Javascript is required.

Ex-Date Payable Date Record Date Total Distribution   Income ST Cap Gains LT Cap Gains Return of Capital
Sep 30, 2014 Sep 30, 2014 Sep 30, 2014 $0.022300 - - - -
Aug 31, 2014 Aug 31, 2014 Aug 31, 2014 $0.020300 - - - -
Aug 29, 2014 Aug 29, 2014 Aug 29, 2014 $0.020344 - - - -
Jul 31, 2014 Jul 31, 2014 Jul 31, 2014 $0.018800 - - - -
Jun 30, 2014 Jun 30, 2014 Jun 30, 2014 $0.018300 - - - -
May 31, 2014 May 31, 2014 May 31, 2014 $0.018500 - - - -
Apr 30, 2014 Apr 30, 2014 Apr 30, 2014 $0.018700 - - - -
Mar 31, 2014 Mar 31, 2014 Mar 31, 2014 $0.018100 - - - -
Feb 28, 2014 Feb 28, 2014 Feb 28, 2014 $0.018600 - - - -
Jan 31, 2014 Jan 31, 2014 Jan 31, 2014 $0.020600 - - - -
Dec 31, 2013 Dec 31, 2013 Dec 31, 2013 $0.021200 $0.021200 - - -
Nov 30, 2013 Nov 30, 2013 Nov 30, 2013 $0.026400 $0.026400 - - -
Oct 31, 2013 Oct 31, 2013 Oct 31, 2013 $0.027900 $0.027900 - - -
Sep 30, 2013 Sep 30, 2013 Sep 30, 2013 $0.030200 $0.030200 - - -
Aug 31, 2013 Aug 31, 2013 Aug 31, 2013 $0.029600 $0.029600 - - -
Jul 31, 2013 Jul 31, 2013 Jul 31, 2013 $0.032900 $0.032900 - - -
Jun 30, 2013 Jun 30, 2013 Jun 30, 2013 $0.035600 $0.035600 - - -
May 31, 2013 May 31, 2013 May 31, 2013 $0.034200 $0.034200 - - -
Apr 30, 2013 Apr 30, 2013 Apr 30, 2013 $0.033900 $0.033900 - - -
Mar 31, 2013 Mar 31, 2013 Mar 31, 2013 $0.031700 $0.031700 - - -
Feb 28, 2013 Feb 28, 2013 Feb 28, 2013 $0.033000 $0.033000 - - -
Jan 31, 2013 Jan 31, 2013 Jan 31, 2013 $0.029100 $0.029100 - - -
Dec 31, 2012 Dec 31, 2012 Dec 31, 2012 $0.027900 $0.027900 - - -
Dec 21, 2012 Dec 24, 2012 Dec 20, 2012 $0.201018 $0.000000 $0.127995 $0.073023 -
Nov 30, 2012 Nov 30, 2012 Nov 30, 2012 $0.029100 $0.029100 - - -
Oct 31, 2012 Oct 31, 2012 Oct 31, 2012 $0.029800 $0.029800 - - -
Sep 30, 2012 Sep 30, 2012 Sep 30, 2012 $0.030100 $0.030100 - - -
Aug 31, 2012 Aug 31, 2012 Aug 31, 2012 $0.030400 $0.030400 - - -
Jul 31, 2012 Jul 31, 2012 Jul 31, 2012 $0.033000 $0.033000 - - -
Jun 30, 2012 Jun 30, 2012 Jun 30, 2012 $0.033700 $0.033700 - - -
May 31, 2012 May 31, 2012 May 31, 2012 $0.034100 $0.034100 - - -
Apr 30, 2012 Apr 30, 2012 Apr 30, 2012 $0.034700 $0.034700 - - -
Dec 21, 2011 Dec 22, 2011 Dec 20, 2011 $0.248916 $0.124458 $0.124458 - -
Dec 22, 2010 Dec 23, 2010 Dec 21, 2010 $0.729644 $0.364822 $0.296148 $0.068674 -
Dec 22, 2009 Dec 23, 2009 Dec 21, 2009 $0.383036 $0.191518 $0.191518 - -
Nov 14, 2001 Nov 14, 2001 Nov 14, 2001 $0.210400 $0.000000 $0.210400 - -
Nov 16, 1999 Nov 16, 1999 Nov 16, 1999 $0.018400 $0.000000 $0.007500 $0.010900 -
Nov 12, 1998 Nov 12, 1998 Nov 12, 1998 $0.018400 $0.000000 $0.018400 - -

Interactive chart displaying fund performance. Javascript is required.

Year Total Distribution   Income ST Cap Gains LT Cap Gains
2013 0.37 0.37 0.00 0.00
2012 0.48 0.28 0.13 0.07
2011 0.25 0.12 0.12 -
2010 0.73 0.36 0.30 0.07
2009 0.38 0.19 0.19 -
2001 0.21 0.00 0.21 -
1999 0.02 0.00 0.01 0.01
1998 0.02 0.00 0.02 -

Past distributions are not indicative of future distributions.



The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

Holdings

as of 30-Sep-2014

Name Weight (%)
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 64.18
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I 29.56
FEDERAL NATIONAL MORTGAGE ASSOCIATION 10.63
GNMA_11-71-GF 1.81
FEDERAL HOME LOAN MORTGAGE CORPORATION - GOLD 0.39
GNMA_09-122-PY 0.37
GNMA_02-45-PG 0.31
GNMA_09-31-PT 0.11
FNMA_96-48-Z 0.10
FEDERAL HOME LOAN MORTGAGE CORPORATION 0.06
The Fund is actively managed and its composition will vary. Holdings shown are for illustrative purposes only and should not be deemed as a recommendation to buy or sell the securities listed. Fund details, holdings and characteristics are as of the date noted and subject to change.

Exposure Breakdowns

as of 30-Sep-2014

% Notional Exposures  

United States

110.0%

100.0%

Net Derivatives

-2.7%

-

Cash

-7.3%

-

  • Fund

  • Benchmark

as of 30-Sep-2014

% Notional Exposures  

North America

110.0%

100.0%

Net Derivatives

-2.7%

-

Cash

-7.3%

-

  • Fund

  • Benchmark

Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of 30-Sep-2014

% Notional Exposures  

Agency Pass-Through MBS

104.5%

100.0%

Treasuries and Treasury Futures

14.6%

-

Agency CMOs

2.7%

-

Net Derivatives

-2.7%

-

Cash

-7.3%

-

US Interest Rate Derivatives

-11.8%

-

  • Fund

  • Benchmark

as of 30-Sep-2014

% Notional Exposures  

USD

100.0%

100.0%

  • Fund

  • Benchmark

as of 30-Sep-2014

% Market Value

Cash

-7.3%

-

Derivatives

-0.3%

-

0 - 1 Years

0.1%

-

1 - 2 Years

0.7%

-

2 - 3 Years

0.1%

0.3%

3 - 5 Years

31.9%

17.7%

5 - 7 Years

43.1%

41.6%

7 - 10 Years

31.7%

40.4%

  • Fund

  • Benchmark

as of 30-Sep-2014

% Market Value

Cash

-7.3%

-

Derivatives

-0.3%

-

AAA Rated

107.6%

100.0%

  • Fund

  • Benchmark

The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

as of 30-Sep-2014

% Market Value

Fixed Income

107.6%

100.0%

Derivatives

-0.3%

-

Cash

-7.3%

-

  • Fund

  • Benchmark

Allocations subject to change.
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.

Ratings

  • Morningstar Rating
     
  • Overall   :
  • 5
  • Overall Morningstar Rating for GNMA Fund, CLASS INST, as of 30-Sep-2014 rated against 302 Intermediate Government Funds.

KEY FACTS

Size of Fund (Millions)

as of 24-Oct-2014

$739.8 M
Size of Class (Millions)

as of 24-Oct-2014

$403.1 M
Inception Date May 18, 1998
Asset Class Fixed Income
Morningstar Category Intermediate Government
Lipper Classification GNMA Funds
CUSIP 091929695
Benchmark Index Barclays Fixed-Rate GNMA MBS Index

Total Expense Ratio 0.82%
Net, Including Investment Related Expenses   0.58%
Net, Excluding Investment Related Expenses 0.55%

Max Offer Price

as of 24-Oct-2014

$9.92
Distribution Frequency   Monthly
Number of Holdings

as of 30-Sep-2014

168
Turnover Percent

as of 30-Sep-2014

1,405%
Open to New Investors Yes

PORTFOLIO CHARACTERISTICS

Alpha (3y)  

as of 31-Aug-2014

0.07
R-Squared (3y)  

as of 31-Aug-2014

96.19
Beta (3y)  

as of 31-Aug-2014

1.11

30 Day SEC Yield  

as of 30-Sep-2014

1.98%
Unsubsidized 30-Day SEC Yield  

as of 30-Sep-2014

1.82%

Effective Duration  

as of 30-Sep-2014

4.32 yrs
Yield to Worst  

as of 30-Sep-2014

3.08%

Best 3-Month Return Over the Last 3 Years

3 months ending 30-Jun-2014

2.53%
Worst 3-Month Return Over the Last 3 Years

3 months ending 31-Jul-2013

-4.02%

This information must be preceded or accompanied by a current prospectus. For standardized performance, please click on the "Returns" tab above.

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting the iShares ETF and BlackRock Mutual Fund prospectus pages. Read the prospectus carefully before investing.

The fund is actively managed and its characteristics will vary.

Bond values fluctuate in price so the value of your investment can go down depending on market conditions.

Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments.

Principal of mortgage- or asset-backed securities normally may be prepaid at any time, reducing the yield and market value of those securities.

The fund may use derivatives to hedge its investments or to seek to enhance returns. Derivatives entail risks relating to liquidity, leverage and credit that may reduce returns and increase volatility.

Performance results reflect past performance and are no guarantee of future results. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of all dividends. Performance information shown without sales charge would have been lower if the applicable sales charge had been included. Performance during periods of exceptional market conditions should not be expected to be repeated in a normal market environment. Current performance may be lower or higher than the performance data quoted.

Investing involves risk, including possible loss of principal.

The Fund is actively managed and its composition will vary. Fund details, holdings and characteristics are as of the date noted and subject to change.

Yields are based on income earned for the period cited and on the Fund's NAV at the end of the period.

Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Those distributions temporarily cause extraordinarily high yields. There is no assurance that a fund will repeat that yield in the future. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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