Performance

as of
  1y 3y 5y 10y Incept.  
1.78 2.47 3.97 5.18 4.52
Benchmark (%)   1.96 2.50 3.78 - 3.73
Morningstar Category Avg. (%)   0.65 1.88 3.53 4.50 -
Lipper Category Avg. (%)   - 1.94 3.52 4.37 -
Lipper Ranking  
as of
  YTD 1m 3m 1y 3y 5y 10y Incept.  
3.02 1.09 3.02 1.78 7.60 21.48 65.71 70.28
Benchmark (%)   3.03 0.92 3.03 1.96 7.69 20.37 - 20.44
Morningstar Category Avg. (%)   2.50 1.31 2.50 0.65 5.75 18.95 55.24 -
Lipper Category Avg. (%)   2.71 1.29 2.71 0.92 5.95 18.93 53.93 -
Lipper Ranking   92/510 70/450 85/400
as of
  2011 2012 2013 2014 2015
Total Return (%)   - 4.82 -2.44 6.45 0.48
Benchmark (%)   7.45 4.21 -2.02 5.97 0.55
Morningstar Category Avg. (%)   5.86 7.01 -1.42 5.18 -0.26


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.
Performance chart data not available for display.
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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

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Ex-Date Payable Date Record Date Total Distribution   Income ST Cap Gains Return of Capital LT Cap Gains

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Total Distribution   Income ST Cap Gains LT Cap Gains Year

Past distributions are not indicative of future distributions.
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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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

Holdings

as of 31-Mar-2016

Name Weight (%)
FEDERAL NATIONAL MORTGAGE ASSOCIATION 18.77
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 6.42
FEDERAL HOME LOAN MORTGAGE CORPORATION - GOLD 5.11
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I 1.33
VERIZON COMMUNICATIONS INC 1.14
GOLDMAN SACHS GROUP INC/THE 1.06
MORGAN STANLEY 0.91
AT&T INC 0.84
JPMORGAN CHASE & CO 0.82
FEDERAL HOME LOAN MORTGAGE CORPORATION 0.76

Exposure Breakdowns

as of 31-Mar-2016

% Notional Exposures  

Investment Grade Credit

31.9%

21.3%

Agency Mortgages

31.1%

28.2%

Securitized Products

26.0%

2.3%

US Government Related

19.9%

39.3%

Non-US Developed

14.7%

6.9%

Emerging Markets

2.2%

1.9%

High Yield

1.8%

-

Other

-

-

Municipals

-

0.2%

Cash

-1.1%

-

  • Fund

  • Benchmark

as of 31-Mar-2016

% Notional Exposures  

North America

115.3%

92.3%

Europe

14.0%

3.5%

Emerging Markets

2.3%

2.0%

World

-

1.6%

Cash

-1.1%

-

Asia Pacific Basin

-4.0%

0.6%

Net Derivatives

-26.5%

-

  • Fund

  • Benchmark

as of 31-Mar-2016

% Notional Exposures  

United States

110.2%

91.1%

United Kingdom

7.0%

0.9%

Canada

5.1%

1.2%

European Union

3.6%

-

Italy

3.1%

0.1%

Japan

1.3%

0.4%

Switzerland

1.0%

0.4%

China

1.0%

0.2%

Belgium

0.7%

0.4%

Mexico

0.7%

0.6%

  • Fund

  • Benchmark

Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of 31-Mar-2016

% Market Value

Fixed Income

101.1%

100.0%

Derivatives

0.0%

-

Cash

-1.1%

-

  • Fund

  • Benchmark

Allocations subject to change.
as of 31-Mar-2016

% Market Value

Cash

-1.1%

-

Derivatives

0.0%

-

0 - 1 Years

16.4%

0.4%

1 - 2 Years

12.6%

11.7%

2 - 3 Years

8.2%

10.3%

3 - 5 Years

38.2%

32.1%

5 - 7 Years

13.1%

17.0%

7 - 10 Years

4.4%

13.5%

10 - 15 Years

0.6%

1.7%

15 - 20 Years

0.8%

1.8%

  • Fund

  • Benchmark

as of 31-Mar-2016

% Notional Exposures  

USD

100.8%

100.0%

PHP

2.2%

-

PLN

2.1%

-

ILS

1.4%

-

NZD

1.2%

-

MXN

0.8%

-

KRW

0.3%

-

TRY

0.3%

-

COP

0.1%

-

CHF

0.0%

-

  • Fund

  • Benchmark

as of 31-Mar-2016

% Market Value

Cash

-1.1%

-

Derivatives

0.0%

-

AAA Rated

42.2%

72.3%

AA rated

9.2%

3.5%

A Rated

20.1%

11.1%

BBB Rated

25.4%

13.0%

BB Rated

2.6%

-

B Rated

0.5%

-

CCC Rated

0.1%

-

Not Rated

1.0%

-

  • Fund

  • Benchmark

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.

Ratings

  • Morningstar Rating
     
  • Overall   :
  • 4
  • Overall Morningstar Rating for CoreAlpha Bond Fund, Class I, as of 30-Apr-2016 rated against 944 Intermediate-Term Bond Funds.
  • Lipper Leader Ratings
  • Consistent Return   :
     
  • Expense   :
     
  • Preservation   :
     
  • Total Return   :
     
  • 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 31-Mar-2016 out of 445, 5,473, 450, 242 and 450 Funds, respectively in Lipper's Core Bond Funds classification.

PORTFOLIO MANAGEMENT

KEY FACTS

Size of Class (Millions)

as of 29-Apr-2016

$273.6 M
Size of Fund (Millions)

as of 29-Apr-2016

$287.0 M
Inception Date Feb 28, 2011
Asset Class Fixed Income
Morningstar Category Intermediate-Term Bond
Lipper Classification Core Bond Funds
Benchmark Index Barclays U.S. Aggregate Index
CUSIP 066922139

Net, Including Investment Related Expenses   0.34%
Net, Excluding Investment Related Expenses 0.34%
Expense Ratio 0.36%

Distribution Frequency   Monthly
Number of Holdings

as of 31-Mar-2016

859
Max Offer Price

as of 29-Apr-2016

$10.57
Open to New Investors Yes
Turnover Percent

as of 31-Mar-2016

540%

PORTFOLIO CHARACTERISTICS

30 Day SEC Yield  

as of 31-Mar-2016

2.36%
Unsubsidized 30-Day SEC Yield  

as of 31-Mar-2016

2.34%

Yield to Maturity  

as of 31-Mar-2016

2.71%
Yield to Worst  

as of 31-Mar-2016

2.66%
Average Coupon

as of 31-Mar-2016

3.55%
Effective Duration  

as of 31-Mar-2016

5.29 yrs
Weighted Average Life  

as of 31-Mar-2016

5.23 yrs

Best 3-Month Return Over the Last 3 Years

3 months ending 31-Jan-2015

3.23%
Worst 3-Month Return Over the Last 3 Years

3 months ending 31-Jul-2013

-3.76%

This information must be preceded or accompanied by a current prospectus. For standardized performance, please click on the "Returns" tab above.

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing.

Bond values fluctuate in price so the value of your investment can go down depending on market conditions. Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments. Principal of mortgage- or asset-backed securities normally may be prepaid at any time, reducing the yield and market value of those securities. Obligations of U.S. government agencies are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. government. Non-investment-grade debt securities (high-yield/junk bonds) may be subject to greater market fluctuations, risk of default or loss of income and principal than higher-rated securities. International investing involves risks including, but not limited to political risks, currency fluctuations, illiquidity and volatility. These risks may be heightened in emerging markets. If the index measuring inflation falls, the principal value of inflation-indexed bonds will go down and the interest payable will be reduced. Any increase in the principal amount will be considered taxable ordinary income. Repayment of the original bond principal upon maturity (adjusted for inflation) is guaranteed for U.S. Treasury inflation-indexed bonds. For bonds that do not provide a guarantee, the adjusted principal value repaid at maturity may be less than the original principal. The fund may use derivatives to hedge investments or seek enhanced returns. Derivatives entail risks relating to liquidity, leverage and credit that may reduce returns and increase volatility. An index fund has operating and other expenses while an index does not. As a result, while an Index fund will attempt to track the applicable index as closely as possible, it will tend to underperform the index to some degree over time.

Performance results reflect past performance and are no guarantee of future results. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of all dividends. Performance information shown without sales charge would have been lower if the applicable sales charge had been included. Performance during periods of exceptional market conditions should not be expected to be repeated in a normal market environment. Current performance may be lower or higher than the performance data quoted.

Investing involves risk, including possible loss of principal.

Fund details, holdings and characteristics are as of the date noted and subject to change.

Yields are based on income earned for the period cited and on the Fund's NAV at the end of the period.

Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Those distributions temporarily cause extraordinarily high yields. There is no assurance that a fund will repeat that yield in the future. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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