Fixed Income

BGF US Dollar Bond Fund

Overview

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
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  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) 7.66 -0.97 6.53 -0.18 2.57 3.87 -0.70 9.32 8.28 -1.52
Constraint Benchmark 1 (%) 4.21 -2.02 5.97 0.55 2.65 3.54 0.01 8.72 7.51 -1.54
  1Y 3Y 5Y 10y Incept.
-16.98 -3.83 -0.78 0.83 1.63
Constraint Benchmark 1 (%) -15.68 -3.77 -0.54 0.74 1.38
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-16.93 -1.85 -8.33 -7.90 -16.98 -11.05 -3.84 8.61 20.08
Constraint Benchmark 1 (%) -15.72 -1.30 -8.23 -6.86 -15.68 -10.89 -2.68 7.64 16.77
  From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
From
30-Sep-2021
To
30-Sep-2022
Total Return (%)

as of Sep 30, 2022

-1.59 9.95 7.47 -0.36 -15.44
Constraint Benchmark 1 (%)

as of Sep 30, 2022

-1.22 10.30 6.98 -0.90 -14.60
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.

Key Facts

Key Facts

Net Assets of Fund as of Nov 30, 2022 USD 524,148,346
Share Class Inception Date Jul 4, 2011
Fund Inception Date Apr 7, 1989
Share Class Currency USD
Base Currency USD
Asset Class Fixed Income
Constraint Benchmark 1 BBG U.S. Aggregate Index
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charge 0.67%
Annual Management Fee 0.45%
Performance Fee 0.00%
Minimum Initial Investment USD 100000
Minimum Subsequent Investment USD 1000
Distribution Frequency Monthly
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category USD Diversified Bond
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGFCBD3
ISIN LU0592701923
SEDOL B45NCV6

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Oct 31, 2022 1428
12m Trailing Yield as of Nov 30, 2022 2.21%
Standard Deviation (3y) as of Oct 31, 2022 6.23%
3y Beta as of Oct 31, 2022 1.053
Yield to Maturity as of Oct 31, 2022 6.01%
Modified Duration as of Oct 31, 2022 5.79 yrs
Yield to Worst as of Oct 31, 2022 6.01%
Effective Duration as of Oct 31, 2022 5.89 yrs
Weighted Avg Maturity as of Oct 31, 2022 7.66 yrs
WAL to Worst as of Oct 31, 2022 7.66 yrs

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. Unless otherwise stated in Fund documentation or included within the Fund’s investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF US Dollar Bond Fund, Class D3, as of Oct 31, 2022 rated against 414 USD Diversified Bond Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Silver
Morningstar has awarded the Fund a Silver medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Nov 23, 2021)

Risk Indicator

Risk Indicator

1
2
3
4
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7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Oct 31, 2022
Name Weight (%)
UNITED STATES TREASURY 19.43
FEDERAL NATIONAL MORTGAGE ASSOCIATION 12.19
FEDERAL HOME LOAN MORTGAGE CORPORATION 8.27
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 6.44
UNIFORM MBS 2.24
Name Weight (%)
MORGAN STANLEY 1.78
BANK OF AMERICA CORP 1.73
GOLDMAN SACHS GROUP INC/THE 1.62
JPMORGAN CHASE & CO 0.97
AT&T INC 0.86
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Oct 31, 2022

% of Market Value

Type Fund Benchmark Net
Negative weightings may result from specific circumstances (including timing differences between trade and settlement 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. Allocations are subject to change.
as of Oct 31, 2022

% of Market Value

Type Fund Benchmark Net
as of Oct 31, 2022

% of Market Value

Type Fund Benchmark Net
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. Allocations are subject to change.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
D3 USD Monthly 14.92 -0.06 -0.40 Nov 30, 2022 17.96 14.34 LU0592701923 -
C1 USD Monthly 14.04 -0.02 -0.14 Nov 30, 2022 16.88 13.47 LU0147418528 -
C2 USD Accumulating 22.49 -0.04 -0.18 Nov 30, 2022 26.95 21.55 LU0147418874 -
I2 USD Accumulating 10.51 -0.02 -0.19 Nov 30, 2022 12.37 10.05 LU1165522647 -
A2 CZK Accumulating 724.40 -4.73 -0.65 Nov 30, 2022 825.12 717.62 LU1791174102 -
E2 USD Accumulating 27.76 -0.04 -0.14 Nov 30, 2022 33.01 26.57 LU0147419096 -
A3 USD Monthly 14.92 -0.06 -0.40 Nov 30, 2022 17.96 14.34 LU0172417379 -
A1 USD Monthly 14.91 -0.03 -0.20 Nov 30, 2022 17.95 14.31 LU0028835386 -
A2 USD Accumulating 30.92 -0.05 -0.16 Nov 30, 2022 36.60 29.59 LU0096258362 -
Class X5 USD Quarterly 8.83 -0.02 -0.23 Nov 30, 2022 10.61 8.44 LU1694209633 -
I2 Hgd EUR Accumulating 9.06 -0.02 -0.22 Nov 30, 2022 10.91 8.70 LU1564327929 -
D2 USD Accumulating 32.51 -0.05 -0.15 Nov 30, 2022 38.32 31.09 LU0548367084 -
D2 Hgd GBP Accumulating 9.74 -0.02 -0.20 Nov 30, 2022 11.59 9.34 LU1294567448 -
X2 USD Accumulating 10.20 -0.01 -0.10 Nov 30, 2022 11.95 9.75 LU0147419252 -
I5 USD Quarterly 8.89 -0.02 -0.22 Nov 30, 2022 10.68 8.51 LU1718847640 -

Portfolio Managers

Portfolio Managers

Bob Miller
Managing Director, Head of Americas Fundamental Fixed Income

Bob Miller, Managing Director, is head of Americas Fundamental Fixed Income within BlackRock's Global Fixed Income group and a member of the Global Fixed Income Executive Committee.

Aidan Doyle
Aidan Doyle
David Rogal
Managing Director, U.S. Multi-Sector Fixed Income

David Rogal

Chi Chen
Chi Chen
Sam Summers
Sam Summers

Literature

Literature