Fixed Income

MSUMX

U.S. Mortgage Fund

Overview

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Performance

Performance

  • Returns

  1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
0.83 2.84 2.80 5.67 5.42
Benchmark (%) Index: BBG Barc MBS 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. 0.30 2.44 1.96 4.13 -
Morningstar Category Avg. (%) Intermediate-Term Bond 0.83 2.51 2.12 4.26 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 450/985 268/852 136/773 19/546 -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 2 2 1 1 -
Lipper Category Avg. (%) US Mortgage Funds 0.84 2.36 1.97 3.90 -
Lipper Ranking Rankings are based on total return excluding sales charges. 44/116 21/100 12/91 3/63 -
Lipper Quartile Rankings are based on total return excluding sales charges. 2 1 1 1 -
  YTD 1m 3m 1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
2.59 -0.28 0.84 0.83 8.76 14.79 73.63 90.06
Benchmark (%) Index: BBG Barc MBS 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. 2.32 -0.22 0.96 0.30 7.49 10.22 49.95 -
Morningstar Category Avg. (%) Intermediate-Term Bond 3.40 -0.37 0.88 0.83 7.72 11.08 51.72 -
Lipper Category Avg. (%) US Mortgage Funds 2.71 -0.27 0.90 0.84 7.26 10.33 47.11 -


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.

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Distributions

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BlackRock Fixed Income Funds Delivered
17 of 22 U.S. bond funds, accounting for 93% of our assets, have 1st quartile performance*
20 of 23 U.S. bond funds, accounting for 87% of our fixed income funds, are priced in the least expensive quartile
See the numbers See the numbers

Key Facts

Key Facts

Size of Class (Millions) as of Nov 20, 2017 $200.8 M
Size of Fund (Millions) as of Nov 20, 2017 $265.7 M
Share Class launch date Jul 29, 2005
Asset Class Fixed Income
Morningstar Category Intermediate-Term Bond
Lipper Classification US Mortgage Funds
Benchmark Index BBG Barc MBS Index
CUSIP 561656109
Number of Holdings as of Oct 31, 2017 473
Max Offer Price as of Nov 20, 2017 $10.25
Open to New Investors Yes
Turnover Percent as of Oct 31, 2017 887%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Oct 31, 2017 93.65
Beta (3y) as of Oct 31, 2017 0.91
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2015 1.87%
Worst 3-Month Return Over the Last 3 Years 3 months ending Dec 31, 2016 -1.72%
Standard Deviation (3y) as of Oct 31, 2017 1.66

For the latest month-end Distribution Yield, click here.


This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Ratings

Ratings

Morningstar Rating

Overall Morningstar Rating for U.S. Mortgage Fund, Class Inst, as of Oct 31, 2017 rated against 854 Intermediate-Term Bond Funds.

Lipper Leader

 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Sep 30, 2017 out of 100, 5,777, 100, 67 and 100 Funds, respectively in Lipper's US Mortgage Funds classification.

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 03, 2017) ‡

Holdings

Holdings

as of Oct 31, 2017
Name Weight (%)
GNMA2 30YR TBA(REG C) 3.5 11/20/2017 10.01
FNMA 30YR 2011 PRODUCTION 7.42
FNMA 30YR 2017 PRODUCTION 6.78
GNMA2 30YR 2017 PRODUCTION 5.87
GNMA2 30YR TBA(REG C) 3 11/20/2017 4.39
Name Weight (%)
FGOLD 30YR TBA(REG A) 3.5 11/13/2017 3.87
GNMA2 30YR 3.56
FGOLD 30YR TBA(REG A) 3 11/13/2017 3.38
FNMA 30YR 2003 PRODUCTION 3.13
FNMA 30YR 3% SHLB 175K 2016 2.48

Exposure Breakdowns

Exposure Breakdowns

Type Fund Benchmark Net
Type Fund Benchmark Net
Type Fund Benchmark Net
as of Oct 31, 2017

% Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Oct 31, 2017

% Market Value

Type Fund Benchmark Net
Type Fund Benchmark Net
as of Oct 31, 2017

% Market Value

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

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. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Matthew Kraeger
Lead Portfolio Manager, Mortgage Portfolios

    

Siddharth Mehta
Siddharth Mehta
Portfolio Manager

Literature

Literature

 

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