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Fixed Income

BGF US Dollar High Yield Bond Fund

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.
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Performance

Performance

  • Returns

  From
31-Dec-2014
To
31-Dec-2015
From
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.

as of Dec 31, 2019

-5.64 12.15 4.84 -6.13 10.94
Benchmark (%) Index: BBG Barc US Corp High Yield 2% Issuer Capped Index<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

as of Dec 31, 2019

-4.43 17.13 7.50 -2.08 14.32
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.

Growth of Hypothetical 10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

Performance chart data not available for display.
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Reinvestments

Record Date Ex-Date Payable Date
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Key Facts

Key Facts

Size of Fund (Millions) as of Mar 27, 2020 USD 1,674.354
Base Currency U.S. Dollar
Fund Inception Date Oct 29, 1993
Share Class Inception Date Dec 14, 2007
Asset Class Fixed Income
Morningstar Category Other Bond
Benchmark Index BBG Barc US Corp High Yield 2% Issuer Capped Index
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU0330917963
Bloomberg Ticker MERCAA2
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B43DCV8
Bloomberg Benchmark Ticker LF89TRUU
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

3y Volatility - Benchmark as of Feb 29, 2020 4.15
5y Volatility - Benchmark as of Dec 31, 2019 8.32
5y Beta as of Feb 29, 2020 0.928

Ratings

Ratings

Morningstar Rating

Overall Morningstar Rating for BGF US Dollar High Yield Bond Fund, Class A2 Hedged, as of Jul 31, 2018 rated against 1349 Other 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 Oct 9, 2019)

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Feb 28, 2020
Name Weight (%)
FREEPORT-MCMORAN COPPER & GOLD INC 5.45 03/15/2043 0.69
SOLERA LLC / SOLERA FINANCE INC 144A 10.5 03/01/2024 0.68
HD SUPPLY INC 144A 5.375 10/15/2026 0.62
VERSCEND ESCROW CORP 144A 9.75 08/15/2026 0.62
PANTHER BF AGGREGATOR 2 LP 144A 8.5 05/15/2027 0.61
Name Weight (%)
ALLY FINANCIAL INC 8 11/01/2031 0.60
FRONTIER COMMUNICATIONS CORP 144A 8 04/01/2027 0.59
BANFF MERGER SUB INC 144A 9.75 09/01/2026 0.58
CLEAR CHANNEL OUTDOOR HOLDINGS INC 144A 5.125 08/15/2027 0.57
YPSO FINANCE BIS SA 144A 10.5 05/15/2027 0.56
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Feb 28, 2020

% of Market Value

Type Fund Benchmark Net
as of Feb 28, 2020

% of Market Value

Type Fund Benchmark Net
as of Feb 28, 2020

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Feb 28, 2020

% of Market Value

Type Fund Benchmark Net
as of Feb 28, 2020

% of Market Value

Type Fund Benchmark Net
as of Feb 28, 2020

% 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
A2 Hgd EUR Accumulating 181.48 5.25 2.98 217.29 164.13 - LU0330917963 - -
A2 Hgd CHF Accumulating 9.31 0.27 2.99 11.14 8.42 - LU1090155554 - -
I2 Hgd EUR Accumulating 9.91 0.29 3.01 11.85 8.96 - LU1111085798 - -
C2 USD Accumulating 23.41 0.69 3.04 27.86 21.14 - LU0147389596 - -
A3 Hgd NZD Monthly 9.43 0.26 2.84 11.39 8.55 - LU0803752046 - -
D2 Hgd EUR Accumulating 192.55 5.57 2.98 230.40 174.13 - LU0532707519 - -
I4 Hgd GBP Annual 7.90 0.22 2.86 9.62 7.16 - LU1111085442 - -
A3 Hgd AUD Monthly 9.64 0.28 2.99 11.63 8.71 - LU0578942376 - -
A8 Hgd CNH - 88.80 2.68 3.11 106.04 79.95 - LU1919856218 - -
A2 USD Accumulating 30.30 0.89 3.03 36.01 27.35 - LU0046676465 - -
D2 Hgd CHF Accumulating 9.65 0.28 2.99 11.54 8.73 - LU1090156289 - -
E2 EUR Accumulating 25.19 0.71 2.90 30.53 23.21 - LU0277197595 - -
A3 Hgd GBP Monthly 8.20 0.23 2.89 9.90 7.44 - LU0580330818 - -
A3 Hgd SGD Monthly 8.34 0.24 2.96 10.01 7.54 - LU0578937376 - -
E2 USD Accumulating 27.73 0.82 3.05 32.97 25.03 - LU0147389919 - -
A1 USD Daily 4.96 0.15 3.12 5.92 4.48 - LU0046675905 - -
C1 USD Daily 4.97 0.15 3.11 5.93 4.49 - LU0147389166 - -
A6 USD Monthly 4.30 0.12 2.87 5.14 3.88 - LU0738912566 - -
D2 Hgd AUD Accumulating 15.74 0.46 3.01 18.90 14.22 - LU0827886895 - -
A3 Hgd CAD Monthly 8.59 0.25 3.00 10.32 7.76 - LU0803751741 - -
A3 Hgd EUR Monthly 7.82 0.23 3.03 9.40 7.07 - LU0578943853 - -
A2 Hgd SGD Accumulating 12.96 0.37 2.94 15.50 11.72 - LU0578945809 - -
I2 USD Accumulating 13.04 0.38 3.00 15.49 11.77 - LU0822668108 - -
D3 USD Monthly 8.61 0.25 2.99 10.27 7.77 - LU0592702061 - -
X6 USD Monthly 9.28 0.28 3.11 11.07 8.37 - LU1376384019 - -
A4 GBP Annual 9.10 0.25 2.82 11.07 8.25 - LU0706698544 - -
A8 Hgd AUD Monthly 7.79 0.23 3.04 9.40 7.04 - LU0871640396 - -
I3 USD Monthly 8.11 0.24 3.05 9.67 7.32 - LU0764821012 - -
D4 Hgd GBP Annual 9.10 0.26 2.94 11.09 8.24 - LU0681219902 - -
A6 Hgd SGD Monthly 7.91 0.23 2.99 9.51 7.15 - LU1314333441 - -
A2 Hgd AUD Accumulating 14.98 0.43 2.96 18.01 13.54 - LU0578947334 - -
A6 Hgd HKD Monthly 32.12 0.95 3.05 38.42 28.98 - LU0764619531 - -
A8 Hgd ZAR Monthly 76.86 2.28 3.06 92.60 69.42 - LU1023056127 - -
X2 USD Accumulating 35.68 1.06 3.06 42.34 32.20 - LU0147390172 - -
D2 USD Accumulating 32.15 0.96 3.08 38.18 29.02 - LU0552552704 - -
D3 Hgd SGD Monthly 8.37 0.24 2.95 10.05 7.57 - LU0827886978 - -
A3 USD Monthly 5.02 0.15 3.08 5.99 4.53 - LU0172419151 - -
D2 Hgd SGD Accumulating 13.57 0.39 2.96 16.22 12.27 - LU0827887273 - -

Portfolio Managers

Portfolio Managers

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

 James E. Keenan

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

David Delbos

Mitchell S. Garfin, CFA
Managing Director, Co-Head of Leveraged Finance

Mitchell Garfin

Literature

Literature