Fixed Income

BGF US Dollar 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.

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
30.Sep.2015
To
30.Sep.2016
From
30.Sep.2016
To
30.Sep.2017
From
30.Sep.2017
To
30.Sep.2018
From
30.Sep.2018
To
30.Sep.2019
From
30.Sep.2019
To
30.Sep.2020
Total Return (%)

as of 30-Sep-2020

4.60 0.31 -1.98 9.45 7.05
Benchmark (%)

as of 30-Sep-2020

5.19 0.07 -1.22 10.30 6.98
  1y 3y 5y 10y Incept.
7.05 4.72 3.80 3.51 3.58
Benchmark (%)

as of 30-Sep-2020

6.98 5.24 4.18 3.64 4.32
  YTD 1m 3m 1y 3y 5y 10y Incept.
6.73 0.18 1.31 7.05 14.85 20.50 41.15 85.48
Benchmark (%)

as of 30-Sep-2020

6.79 -0.05 0.62 6.98 16.56 22.71 42.91 110.44
  2015 2016 2017 2018 2019
Total Return (%) -0.57 2.23 3.47 -1.10 8.90
Annual w/ Sales Charge (%) -5.55 -2.89 -1.71 -6.04 3.45
Benchmark (%) 0.55 2.65 3.54 0.01 8.72
Morningstar Category Avg. (%) -0.65 2.20 3.55 -1.05 7.71

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 23-Oct-2020 USD 940.39
12m Trailing Yield as of 30-Sep-2020 1.59
Number of Holdings as of 30-Sep-2020 2,184
Base Currency USD
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
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-Sep-2020 2.02%
Modified Duration as of 30-Sep-2020 6.33
Effective Duration as of 30-Sep-2020 5.68 Jahre
Weighted Avg Maturity as of 30-Sep-2020 7.58 Jahre
WAL to Worst as of 30-Sep-2020 7.58 Jahre

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s underlying holdings (excluding cash positions) must be covered by MSCI ESG Research, 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.


Transparency on Business Involvement metrics is not indicative of a fund’s investment objective, and, unless otherwise stated in Fund documentation and included within a Fund’s investment objective, ESG integration does not change a Fund’s investment objective or constrain the Investment Manager’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-Sep-2020 0.15%
MSCI - UN Global Compact Violators as of 30-Sep-2020 0.91%
MSCI - Nuclear Weapons as of 30-Sep-2020 0.15%
MSCI - Thermal Coal as of 30-Sep-2020 0.06%
MSCI - Civilian Firearms as of 30-Sep-2020 0.00%
MSCI - Oil Sands as of 30-Sep-2020 0.04%
MSCI - Tobacco as of 30-Sep-2020 0.47%
MSCI Business Involvement % Coverage as of 30-Sep-2020 32.38%
Business Involvement exposures shown above for Thermal Coal and Oil Sands are calculated and reported for issuers within the fund that generate more than 5% of revenue from thermal coal mining or oil sands extraction, as defined by MSCI ESG Research. For the exposure to issuers within the fund that generate any revenue from thermal coal mining or oil sands extraction (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.19% and for Oil Sands 0.36%.

Business Involvement metrics are calculated using MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this research 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.

Risk Indicator

Risk Indicator

1
2
3
4
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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-Sep-2020 rated against 378 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 11-Dec-2019)

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-Sep-2020
Name Weight (%)
UNITED STATES TREASURY 17.77
FEDERAL NATIONAL MORTGAGE ASSOCIATION 12.70
UNIFORM MBS 6.09
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 5.62
CHINA PEOPLES REPUBLIC OF (GOVERNMENT) 3.07
Name Weight (%)
FEDERAL HOME LOAN MORTGAGE CORPORATION 2.32
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I 1.47
BANK OF AMERICA CORP 1.38
JPMORGAN CHASE & CO 1.31
MORGAN STANLEY 0.78
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-2020

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-2020

% 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-Sep-2020

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 30-Sep-2020

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-2020

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-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
Class A1 USD Daily 18.18 -0.02 -0.11 18.45 16.33 - LU0028835386 - -
Class A3 USD Monthly 18.21 -0.01 -0.05 18.47 16.36 - LU0172417379 - -
Class D2 USD None 38.11 -0.04 -0.10 38.52 33.86 - LU0548367084 - -
Class I2 USD None 12.28 -0.01 -0.08 12.41 10.90 - LU1165522647 - -
Class A2 CZK None 842.06 -1.00 -0.12 904.89 777.35 - LU1791174102 - -
Class A2 USD None 36.56 -0.04 -0.11 36.99 32.57 - LU0096258362 - -
Class E2 USD None 33.17 -0.03 -0.09 33.59 29.63 - LU0147419096 - -
Class D3 USD Monthly 18.21 -0.01 -0.05 18.46 16.36 - LU0592701923 - -
Class D2 Hedged GBP None 11.55 -0.01 -0.09 11.68 10.32 - LU1294567448 - -
Class I5 USD Quarterly 10.80 -0.01 -0.09 10.97 9.68 - LU1718847640 - -

Literature

Literature