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

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Distributions

Record Date Ex-Date Payable Date
View full table
  From
31.Mar.2016
To
31.Mar.2017
From
31.Mar.2017
To
31.Mar.2018
From
31.Mar.2018
To
31.Mar.2019
From
31.Mar.2019
To
31.Mar.2020
From
31.Mar.2020
To
31.Mar.2021
Total Return (%)

as of 31-Mar-2021

0.93 0.82 3.78 4.38 5.31
Benchmark (%)

as of 31-Mar-2021

0.44 1.20 4.48 8.93 0.71
  1y 3y 5y 10y Incept.
2.00 4.93 3.06 3.34 3.37
Benchmark (%)

as of 30-Apr-2021

-0.27 5.19 3.19 3.39 4.07
  YTD 1m 3m 1y 3y 5y 10y Incept.
-2.64 0.67 -1.99 2.00 15.52 16.28 38.88 82.46
Benchmark (%)

as of 30-Apr-2021

-2.61 0.79 -1.91 -0.27 16.39 16.98 39.59 106.32
  2016 2017 2018 2019 2020
Total Return (%) 2.23 3.47 -1.10 8.90 7.84
Annual w/ Sales Charge (%) -2.89 -1.71 -6.04 3.45 2.45
Benchmark (%) 2.65 3.54 0.01 8.72 7.51
Morningstar Category Avg. (%) 2.20 3.55 -1.05 7.71 6.71

The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in USD, hedged Share Class Benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Size of Fund (Millions) as of 07-May-2021 USD 892.27
12m Trailing Yield as of 30-Apr-2021 1.38
Number of Holdings as of 30-Apr-2021 1,877
Base Currency U.S. Dollar
Fund Launch Date 07-Apr-1989
Share Class launch date 03-Mar-2003
Asset Class Fixed Income
Morningstar Category USD Diversified Bond
Benchmark Index BBG Barc U.S. Aggregate Index
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 1.08%
ISIN LU0028835386
Bloomberg Ticker MERCPIA
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL 4580456
Bloomberg Benchmark Ticker LBUSTRUU
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 5,000.00
Minimum Subsequent Investment USD 1,000.00
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 30-Apr-2021 2.28%
Modified Duration as of 30-Apr-2021 5.77
Effective Duration as of 30-Apr-2021 5.52 Jahre
Weighted Avg Maturity as of 30-Apr-2021 7.46 Jahre
WAL to Worst as of 30-Apr-2021 7.46 Jahre

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered 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. MSCI Ratings are currently unavailable for this fund.

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 30-Apr-2021 0.18%
MSCI - UN Global Compact Violators as of 30-Apr-2021 0.92%
MSCI - Nuclear Weapons as of 30-Apr-2021 0.18%
MSCI - Thermal Coal as of 30-Apr-2021 0.05%
MSCI - Civilian Firearms as of 30-Apr-2021 0.00%
MSCI - Oil Sands as of 30-Apr-2021 0.03%
MSCI - Tobacco as of 30-Apr-2021 0.64%

Business Involvement Coverage as of 30-Apr-2021 34.43%
Percentage of Fund not covered as of 30-Apr-2021 65.57%
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 0.32% and for Oil Sands 0.29%.

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 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.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

 

Ratings

Ratings

Morningstar Rating

4
Overall Morningstar Rating for BGF US Dollar Bond Fund, Class A1, as of 30-Apr-2021 rated against 387 USD Diversified Bond Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective 25-Nov-2020)

Portfolio Managers

Portfolio Managers

Bob Miller
Managing Director

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.

Chi Chen
Chi Chen
Aidan Doyle
CFA, Director

Aidan Doyle, CFA, Director, is a portfolio manager within the Global Bond Team.

Sam Summers
Sam Summers

Holdings

Holdings

as of 30-Apr-2021
Name Weight (%)
UNITED STATES TREASURY 16.83
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 8.33
UNIFORM MBS 8.11
FEDERAL HOME LOAN MORTGAGE CORPORATION 5.53
FEDERAL NATIONAL MORTGAGE ASSOCIATION 4.82
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNMENT) 4.15
BANK OF AMERICA CORP 1.74
JPMORGAN CHASE & CO 1.29
AT&T INC 0.96
GOLDMAN SACHS GROUP INC/THE 0.86
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Apr-2021

% of Market Value

Type Fund Benchmark Net
as of 30-Apr-2021

% 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 30-Apr-2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 30-Apr-2021

% of Market Value

Type Fund Benchmark Net
as of 30-Apr-2021

% of Market Value

Type Fund Benchmark Net
as of 30-Apr-2021

% 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
Class A1 USD Daily 17.87 0.01 0.06 18.45 17.62 - LU0028835386 - -
Class A2 CZK None 766.13 -7.40 -0.96 904.89 766.13 - LU1791174102 - -
Class D3 USD Monthly 17.88 0.01 0.06 18.46 17.63 - LU0592701923 - -
Class D2 USD None 37.79 0.01 0.03 38.67 36.62 - LU0548367084 - -
Class A3 USD Monthly 17.88 0.00 0.00 18.47 17.63 - LU0172417379 - -
Class I2 USD None 12.19 0.01 0.08 12.47 11.79 - LU1165522647 - -
Class A2 USD None 36.18 0.02 0.06 37.07 35.19 - LU0096258362 - -
Class E2 USD None 32.73 0.01 0.03 33.60 32.00 - LU0147419096 - -
Class D2 Hedged GBP None 11.44 0.01 0.09 11.71 11.11 - LU1294567448 - -
Class I5 USD Quarterly 10.62 0.00 0.00 10.97 10.47 - LU1718847640 - -

Literature

Literature