Fixed Income

BGF US Dollar High Yield 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.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Reinvestments

This fund does not have any distributions data as of now.
  From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
Total Return (%)

as of Dec 31, 2021

5.72 -5.32 11.81 4.26 4.25
  1Y 3Y 5Y 10y Incept.
4.25 6.71 4.00 - 3.40
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
4.25 1.84 0.47 4.25 21.52 21.64 - 27.60
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

Size of Fund (Millions) as of Jan 21, 2022 USD 3,472.309
12m Trailing Yield -
Number of Holdings as of Dec 31, 2021 1367
Base Currency U.S. Dollar
Fund Inception Date Oct 29, 1993
Share Class Inception Date Sep 17, 2014
Asset Class Fixed Income
Morningstar Category Other Bond
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 0.59%
ISIN LU1111085798
Bloomberg Ticker BGUHI2H
Annual Management Fee 0.55%
Initial Charge 0.00%
Performance Fee 0.00%
SEDOL BQSTL85
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 10000000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of Jan 7, 2022 BBB
MSCI ESG % Coverage as of Jan 7, 2022 72.58
MSCI ESG Quality Score (0-10) as of Jan 7, 2022 4.95
MSCI ESG Quality Score - Peer Percentile as of Jan 7, 2022 63.96
Fund Lipper Global Classification as of Jan 7, 2022 Bond USD High Yield
Funds in Peer Group as of Jan 7, 2022 369
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Jan 7, 2022 272.95
MSCI Weighted Average Carbon Intensity % Coverage as of Jan 7, 2022 71.02
All data is from MSCI ESG Fund Ratings as of Jan 7, 2022, based on holdings as of Jul 31, 2021. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons as of Dec 31, 2021 0.00%
MSCI - UN Global Compact Violators as of Dec 31, 2021 0.61%
MSCI - Nuclear Weapons as of Dec 31, 2021 0.00%
MSCI - Thermal Coal as of Dec 31, 2021 0.00%
MSCI - Civilian Firearms as of Dec 31, 2021 0.01%
MSCI - Oil Sands as of Dec 31, 2021 0.00%
MSCI - Tobacco as of Dec 31, 2021 0.00%

Business Involvement Coverage as of Dec 31, 2021 42.48%
Percentage of Fund not covered as of Dec 31, 2021 57.36%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 0.01%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

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 the investment research, portfolio construction, and investment monitoring phases of the investment process. The Fund manager maintains internal ESG scorecards for new primary issuers under consideration for investment and existing issuers of publicly traded securities. These scorecards analyze and track internal and external research views across a range of environmental, social, and governance factors sourced from primary and third party ESG information and research. Portfolio management teams consider the sector and issuer ESG views and scores when selecting individual investments during portfolio construction. ESG factors are debated and considered in investment decisions. The Fund manager also considers ESG criteria during post-investment monitoring and conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks.

Ratings

Ratings

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 Oct 9, 2019)

Risk Indicator

Risk Indicator

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Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Dec 31, 2021
Name Weight (%)
ISHARES $ HIGH YIELD CRP BND ETF $ 2.72
CLARIOS GLOBAL LP 144A 8.5 05/15/2027 0.66
CONNECT FINCO SARL 144A 6.75 10/01/2026 0.63
ALTICE FRANCE HOLDING SA 144A 10.5 05/15/2027 0.61
ALLIANT HOLDINGS INTERMEDIATE LLC 144A 6.75 10/15/2027 0.58
Name Weight (%)
RADIATE HOLDCO LLC / RADIATE FINAN 144A 6.5 09/15/2028 0.55
KRAFT HEINZ FOODS CO 5.5 06/01/2050 0.52
SPRINT CAPITAL CORPORATION 8.75 03/15/2032 0.52
CHS/COMMUNITY HEALTH SYSTEMS INC 144A 6.625 02/15/2025 0.50
ZAYO GROUP HOLDINGS INC 144A 4 03/01/2027 0.50
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Dec 31, 2021

% of Market Value

Type Fund
as of Dec 31, 2021

% of Market Value

Type Fund
as of Dec 31, 2021

% of Market Value

Type Fund
Allocations subject to change.
as of Dec 31, 2021

% of Market Value

Type Fund
as of Dec 31, 2021

% of Market Value

Type Fund
as of Dec 31, 2021

% of Market Value

Type Fund
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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
I2 Hgd EUR Accumulating 12.58 -0.01 -0.08 12.78 12.18 - LU1111085798 - -
A3 Hgd EUR Monthly 9.09 -0.01 -0.11 9.37 9.08 - LU0578943853 - -
C2 USD Accumulating 29.25 -0.04 -0.14 29.80 28.61 - LU0147389596 - -
A1 USD Monthly 5.91 0.00 0.00 6.06 5.89 - LU0046675905 - -
A3 Hgd CAD Monthly 10.13 -0.02 -0.20 10.41 10.12 - LU0803751741 - -
A3 Hgd AUD Monthly 11.32 -0.02 -0.18 11.64 11.31 - LU0578942376 - -
A3 Hgd SGD Monthly 9.88 -0.01 -0.10 10.14 9.85 - LU0578937376 - -
D4 Hgd GBP Annual 10.60 -0.01 -0.09 11.13 10.51 - LU0681219902 - -
D2 USD Accumulating 41.60 -0.06 -0.14 42.25 40.04 - LU0552552704 - -
D2 Hgd CHF Accumulating 12.19 -0.02 -0.16 12.39 11.84 - LU1090156289 - -
D3 USD Monthly 10.23 -0.02 -0.20 10.50 10.21 - LU0592702061 - -
A8 Hgd ZAR Monthly 89.39 -0.12 -0.13 91.75 88.85 - LU1023056127 - -
C1 USD Monthly 5.91 -0.01 -0.17 6.07 5.90 - LU0147389166 - -
A8 Hgd AUD Monthly 8.93 -0.01 -0.11 9.25 8.93 - LU0871640396 - -
I2 USD Accumulating 16.93 -0.02 -0.12 17.19 16.27 - LU0822668108 - -
A4 Hgd GBP Annual 10.61 -0.02 -0.19 11.11 10.54 - LU0706698544 - -
A6 Hgd SGD Monthly 9.00 -0.01 -0.11 9.35 9.00 - LU1314333441 - -
I3 USD Monthly 9.64 -0.01 -0.10 9.89 9.61 - LU0764821012 - -
X6 USD Monthly 10.89 -0.01 -0.09 11.20 10.86 - LU1376384019 - -
A6 Hgd HKD Monthly 36.67 -0.05 -0.14 38.15 36.66 - LU0764619531 - -
X2 USD Accumulating 46.77 -0.06 -0.13 47.48 44.74 - LU0147390172 - -
A3 USD Monthly 5.97 -0.01 -0.17 6.13 5.96 - LU0172419151 - -
D3 Hgd SGD Monthly 9.91 -0.01 -0.10 10.17 9.88 - LU0827886978 - -
A2 Hgd SGD Accumulating 16.50 -0.03 -0.18 16.76 15.97 - LU0578945809 - -
D2 Hgd SGD Accumulating 17.50 -0.03 -0.17 17.77 16.84 - LU0827887273 - -
A2 Hgd CHF Accumulating 11.61 -0.02 -0.17 11.83 11.34 - LU1090155554 - -
D2 Hgd EUR Accumulating 243.77 -0.33 -0.14 247.68 236.30 - LU0532707519 - -
A6 USD Monthly 4.92 -0.01 -0.20 5.11 4.92 - LU0738912566 - -
E2 EUR Accumulating 30.94 -0.06 -0.19 31.56 28.30 - LU0277197595 - -
D2 Hgd AUD Accumulating 20.14 -0.02 -0.10 20.45 19.42 - LU0827886895 - -
A3 Hgd NZD Monthly 11.12 -0.01 -0.09 11.42 11.09 - LU0803752046 - -
A2 Hgd EUR Accumulating 226.85 -0.32 -0.14 230.95 221.20 - LU0330917963 - -
I4 Hgd GBP Annual 9.19 -0.02 -0.22 9.67 9.12 - LU1111085442 - -
A2 USD Accumulating 38.72 -0.06 -0.15 39.34 37.49 - LU0046676465 - -
E2 USD Accumulating 35.11 -0.05 -0.14 35.69 34.14 - LU0147389919 - -
A3 Hgd GBP Monthly 9.65 -0.02 -0.21 9.92 9.64 - LU0580330818 - -
A8 Hgd CNH Monthly 103.37 -0.13 -0.13 106.57 103.21 - LU1919856218 - -
A2 Hgd AUD Accumulating 18.93 -0.03 -0.16 19.24 18.37 - LU0578947334 - -

Portfolio Managers

Portfolio Managers

Jimmy Keenan
Managing Director, Chief Investment Officer and Global Co-Head of Credit

Jimmy E. Keenan, CFA, Managing Director, is Chief Investment Officer and Global Co-Head of Credit within BlackRock Alternative Investors (BAI).

David Delbos
Co-Head of US High Yield, Global Credit

David Delbos

Mitchell S. Garfin
Co-Head of Leveraged Finance, BlackRock

Mitchell S. Garfin, CFA, Managing Director, is the Co-Head of Leveraged Finance within BlackRock's Global Credit team. He is responsible for managing US High Yield and Global strategies.

Literature

Literature