BRHYX

High Yield Bond 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.
12.79 3.91 7.16 7.35 7.64
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. 12.69 4.50 6.90 7.76 -
Morningstar Category Avg. (%) High Yield Bond 11.46 3.57 6.15 6.29 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 132/689 141/590 43/474 26/317 -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 1 1 1 1 -
Lipper Category Avg. (%) High Yield Funds 10.70 2.99 5.69 6.04 -
Lipper Ranking Rankings are based on total return excluding sales charges. 119/666 130/566 38/458 25/304 -
Lipper Quartile Rankings are based on total return excluding sales charges. 1 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.
4.86 0.09 1.99 12.79 12.19 41.29 103.19 293.86
Benchmark (%) 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. 4.92 0.14 2.17 12.69 14.11 39.59 111.06 -
Morningstar Category Avg. (%) High Yield Bond 4.54 0.07 1.97 11.46 11.09 34.74 84.08 -
Lipper Category Avg. (%) High Yield Funds 4.13 0.03 1.79 10.70 9.30 32.07 80.47 -


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
15 of 23 U.S. bond funds, accounting for 89% of 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 Aug 16, 2017 $5,167.7 M
Size of Fund (Millions) as of Aug 16, 2017 $18,324.0 M
Share Class launch date Nov 19, 1998
Asset Class Fixed Income
Morningstar Category High Yield Bond
Lipper Classification High Yield Funds
Benchmark Index BBG Barc US Corp High Yield 2% Issuer Capped Index
CUSIP 091929687
Contractual End Date Jan 31, 2018
Number of Holdings as of Jul 31, 2017 1,452
Max Offer Price as of Aug 16, 2017 $7.80
Open to New Investors Yes
Turnover Percent as of Jun 30, 2017 90%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Jul 31, 2017 93.50
Beta (3y) as of Jul 31, 2017 0.88
Best 3-Month Return Over the Last 3 Years 3 months ending May 31, 2016 6.70%
Worst 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2016 -5.72%

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 High Yield Bond Fund, Class K, as of Jul 31, 2017 rated against 598 High Yield 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 Nov 01, 2016) ‡

Holdings

Holdings

as of Jul 31, 2017
Name Weight (%)
HCA INC 2.18
FREEPORT-MCMORAN INC 1.99
ISHARES IBOXX HIGH YIELD CORPORATE BOND FUND 1.67
CSC HOLDINGS LLC 1.35
SPRINT CORP 1.28
Name Weight (%)
CCO HOLDINGS LLC/CCO HOLDINGS CAPITAL CORP 1.12
ARDAGH PACKAGING FINANCE PLC/ARDAGH HOLDINGS USA INC 1.12
TECK RESOURCES LTD 1.06
CLEAR CHANNEL WORLDWIDE HOLDINGS INC 1.06
FIRST DATA CORPORATION 1.00

Exposure Breakdowns

Exposure Breakdowns

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

% Market Value

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

% Market Value

Type Fund Benchmark Net
Type Fund Benchmark Net
as of Jul 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

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

     

David Delbos
David Delbos
Mitchell Garfin
Mitchell Garfin
Derek Schoenhofen
Derek Schoenhofen
Portfolio Manager

Literature

Literature

 

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