PERFORMANCE

as of
  1y 3y 5y 10y Incept.  
2.18 1.97 7.58 - 7.48
Benchmark (%)   2.81 3.78 5.71 - 5.90
Morningstar Category Avg. (%)   2.29 4.15 6.00 5.34 -
Lipper Category Avg. (%)   2.69 3.99 5.84 5.27 -
Lipper Ranking  

as of 31-Mar-2015

83/205 82/171 15/145
as of
  YTD 1m 3m 1y 3y 5y 10y Incept.  
0.89 -0.58 -0.84 2.18 6.02 44.13 - 73.26
Benchmark (%)   0.98 -0.58 -0.81 2.81 11.77 32.02 - 54.78
Morningstar Category Avg. (%)   1.12 -0.56 -0.79 2.29 12.98 33.85 68.25 -
Lipper Category Avg. (%)   0.85 -0.56 -0.96 2.69 12.50 33.21 68.14 -
Lipper Ranking  

as of 31-Mar-2015

83/205 82/171 15/145
as of
  2010 2011 2012 2013 2014
Total Return (%)   10.61 21.93 11.17 -5.92 7.11
Benchmark (%)   8.47 8.35 9.37 -2.01 7.53
Morningstar Category Avg. (%)   10.00 7.46 11.06 -1.06 6.93


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.
Performance chart data not available for display.
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.

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Ex-Date Payable Date Record Date Total Distribution   Income ST Cap Gains LT Cap Gains

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Year Total Distribution   Income ST Cap Gains LT Cap Gains

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 29-May-2015

Name Weight (%)
UNITED STATES TREASURY 16.20
BANK OF AMERICA CORP 5.30
JPMORGAN CHASE & CO 2.92
VERIZON COMMUNICATIONS INC 1.80
ENTERPRISE PRODUCTS OPERATING LLC 1.67
GOLDMAN SACHS GROUP INC/THE 1.60
CITIGROUP INC 1.48
ACTAVIS FUNDING SCS 1.33
AVIATION CAPITAL GROUP CORP 1.30
AMERICAN TOWER CORPORATION 1.13
Holdings subject to change

Exposure Breakdowns

as of 29-May-2015

% Notional Exposures  

Treasuries and Treasury Futures

31.6%

-

Investment Grade Financials

18.8%

20.6%

Investment Grade Industrials

13.4%

39.2%

High Yield

9.9%

-

Non-US Credit Related

8.7%

12.5%

Net Derivatives

6.0%

-

Emerging Markets

5.6%

8.0%

Cash

4.2%

-

Investment Grade Utilities

3.5%

5.8%

Agency CMOs

1.4%

-

  • Fund

  • Benchmark

as of 29-May-2015

% Notional Exposures  

North America

77.1%

73.2%

Europe

7.0%

11.2%

Net Derivatives

6.0%

-

Emerging Markets

5.6%

8.2%

Cash

4.2%

-

Asia Pacific Basin

0.2%

2.0%

  • Fund

  • Benchmark

as of 29-May-2015

% Notional Exposures  

United States

75.5%

68.9%

Net Derivatives

6.0%

-

Cash

4.2%

-

United Kingdom

2.9%

3.0%

Mexico

2.2%

2.1%

Canada

1.6%

4.3%

Switzerland

1.6%

1.2%

Netherlands

1.5%

1.1%

Brazil

1.0%

1.5%

China

0.8%

0.6%

  • 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 29-May-2015

% Notional Exposures  

USD

100.0%

100.0%

EUR

-

-

GBP

-

-

JPY

-

-

MXN

-

-

  • Fund

  • Benchmark

as of 29-May-2015

% Market Value

Cash

4.2%

-

Derivatives

-0.4%

-

0 - 1 Years

5.2%

0.2%

1 - 2 Years

5.2%

10.2%

2 - 3 Years

12.3%

12.3%

3 - 5 Years

23.3%

18.0%

5 - 7 Years

6.2%

12.6%

7 - 10 Years

17.4%

17.0%

10 - 15 Years

1.1%

3.0%

15 - 20 Years

2.2%

4.8%

  • Fund

  • Benchmark

as of 29-May-2015

% Market Value

Cash

4.2%

-

Derivatives

-0.4%

-

AAA Rated

18.7%

9.2%

AA rated

2.2%

10.8%

A Rated

20.7%

38.4%

BBB Rated

44.4%

41.5%

BB Rated

8.2%

-

B Rated

1.6%

-

CCC Rated

0.4%

-

Not Rated

0.0%

-

  • 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 29-May-2015

% Market Value

Fixed Income

93.9%

100.0%

Cash

4.2%

-

Equity

2.3%

-

Derivatives

-0.4%

-

  • 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

  • Lipper Leader Ratings
  • Expense   :
     
  • Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of 30-Apr-2015 out of 169, 5,106, 169, 80 and 169 Funds, respectively in Lipper's Corp Debt BBB Rated Fds classification.

PORTFOLIO MANAGEMENT

KEY FACTS

Size of Fund (Millions)

as of 30-Jun-2015

$80.9 M
Size of Class (Millions)

as of 30-Jun-2015

$10.8 M
Inception Date Oct 19, 2007
Asset Class Fixed Income
Morningstar Category Corporate Bond
Lipper Classification Corp Debt BBB Rated Fds
CUSIP 091937185
Benchmark Index Barclays U.S. Credit Index

Total Expense Ratio 0.86%
Net, Including Investment Related Expenses   0.58%
Net, Excluding Investment Related Expenses 0.55%

Max Offer Price

as of 30-Jun-2015

$9.65
Distribution Frequency   Monthly
Number of Holdings

as of 29-May-2015

295
Turnover Percent

as of 31-May-2015

70%
Open to New Investors Yes

PORTFOLIO CHARACTERISTICS

30 Day SEC Yield  

as of 31-May-2015

2.55%
Unsubsidized 30-Day SEC Yield  

as of 31-May-2015

2.20%

Effective Duration  

as of 29-May-2015

6.31 yrs
Weighted Average Life  

as of 29-May-2015

10.63 yrs
Yield to Maturity  

as of 29-May-2015

3.33%
Yield to Worst  

as of 29-May-2015

3.34%

Best 3-Month Return Over the Last 3 Years

3 months ending 30-Apr-2013

4.92%
Worst 3-Month Return Over the Last 3 Years

3 months ending 31-Jul-2013

-9.51%

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 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.

The fund can invest up to 20% in non-investment-grade debt securities.

Non-investment-grade debt securities (high-yield/junk bonds) may be subject to greater market fluctuations, risk of default or loss of income and principal than higher rated 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.

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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