Fixed Income

BGF US Dollar High Yield 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.

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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-20

8.36 7.39 0.90 3.48 -0.11
Benchmark (%)

as of 30-Sep-20

12.74 8.87 3.05 6.35 3.20
  1y 3y 5y 10y Incept.
-0.11 1.41 3.95 - 5.01
Benchmark (%)

as of 30-Sep-20

3.20 4.19 6.78 - 6.51
  YTD 1m 3m 1y 3y 5y 10y Incept.
-2.05 -1.46 4.21 -0.11 4.29 21.37 - 54.40
Benchmark (%)

as of 30-Sep-20

0.57 -1.03 4.58 3.20 13.10 38.83 - 75.14

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 GBP, 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 21-Oct-20 USD 3,113.575
12m Trailing Yield as of 30-Sep-20 4.58
Number of Holdings as of 30-Sep-20 1294
Base Currency USD
Fund Launch Date 29-Oct-93
Inception Date 14-Nov-11
Asset Class Fixed Income
Morningstar Category Other Bond
Benchmark Index BBG Barc US Corp High Yield 2% Issuer Capped Index
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 1.45%
ISIN LU0706698544
Bloomberg Ticker BGUA4RF
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B78K1J6
Bloomberg Benchmark Ticker LF89TRUU
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment GBP 5000
Minimum Subsequent Investment GBP 1000
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 30-Sep-20 5.45
Modified Duration as of 30-Sep-20 5.01
Effective Duration as of 30-Sep-20 3.97
Weighted Avg Maturity as of 30-Sep-20 5.35
WAL to Worst as of 30-Sep-20 5.35

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, material sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI Fund Ratings 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 Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of 01-Oct-20 BB
MSCI ESG Quality Score (0-10) as of 01-Oct-20 3.39
MSCI ESG Quality Score - Peer Percentile as of 01-Oct-20 72.29
MSCI ESG % Coverage as of 01-Oct-20 76.76
Fund Lipper Global Classification as of 01-Oct-20 Bond USD High Yield
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 01-Oct-20 251.72
Funds in Peer Group as of 01-Oct-20 397
All data is from MSCI ESG Fund Ratings as of 01-Oct-20, based on holdings as of 31-Mar-20. As such, the funds sustainable characteristics may differ from MSCI ESG ratings from time to time.

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.

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-20 0.98%
MSCI - UN Global Compact Violators as of 30-Sep-20 1.80%
MSCI - Nuclear Weapons as of 30-Sep-20 0.98%
MSCI - Thermal Coal as of 30-Sep-20 0.00%
MSCI - Civilian Firearms as of 30-Sep-20 0.25%
MSCI - Oil Sands as of 30-Sep-20 0.47%
MSCI - Tobacco as of 30-Sep-20 0.00%
MSCI Business Involvement % Coverage as of 30-Sep-20 47.09%
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 0.00% and for Oil Sands 0.50%.

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
5
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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

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 09-Oct-19)

Holdings

Holdings

as of 30-Sep-20
Name Weight (%)
ALLIED UNIVERSAL HOLDCO LLC 144A 6.625 07/15/2026 0.75
ALTICE FRANCE HOLDING SA 144A 10.5 05/15/2027 0.67
VERSCEND ESCROW CORP 144A 9.75 08/15/2026 0.59
CONNECT FINCO SARL 144A 6.75 10/01/2026 0.56
ALPHA 3 BV 144A 6.25 02/01/2025 0.55
Name Weight (%)
SOLERA LLC / SOLERA FINANCE INC 144A 10.5 03/01/2024 0.52
KRAFT HEINZ FOODS CO 144A 4.25 03/01/2031 0.52
ISHARES $ HIGH YIELD CRP BND ETF $ 0.50
ZAYO GROUP HOLDINGS INC 144A 4 03/01/2027 0.50
CSC HOLDINGS LLC 144A 4.625 12/01/2030 0.50
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-20

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-20

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-20

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 30-Sep-20

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-20

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-20

% 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 A4 GBP Annual 10.35 0.00 0.00 10.94 8.25 - LU0706698544 - -
Class A2 USD None 36.23 0.00 0.00 36.28 27.35 - LU0046676465 - -
Class A8 Hedged CNH Monthly 102.87 0.05 0.05 106.04 79.95 - LU1919856218 - -
Class E2 EUR None 27.88 -0.09 -0.32 30.53 23.21 - LU0277197595 - -
Class A2 Hedged CHF None 11.02 0.00 0.00 11.14 8.42 - LU1090155554 - -
Class I2 Hedged EUR None 11.78 0.00 0.00 11.85 8.96 - LU1111085798 - -
Class C2 USD None 27.80 0.01 0.04 27.86 21.14 - LU0147389596 - -
Class A3 Hedged CAD Monthly 9.96 0.00 0.00 10.32 7.76 - LU0803751741 - -
Class A3 Hedged AUD Monthly 11.15 0.01 0.09 11.63 8.71 - LU0578942376 - -
Class I4 Hedged GBP Annual 8.94 0.00 0.00 9.49 7.16 - LU1111085442 - -
Class E2 USD None 33.06 0.00 0.00 33.11 25.03 - LU0147389919 - -
Class A1 USD Daily 5.79 0.00 0.00 5.92 4.48 - LU0046675905 - -
Class D2 Hedged EUR None 228.74 0.03 0.01 230.40 174.13 - LU0532707519 - -
Class A6 USD Monthly 4.95 0.00 0.00 5.14 3.88 - LU0738912566 - -
Class A2 Hedged EUR None 214.73 0.02 0.01 217.29 164.13 - LU0330917963 - -
Class C1 USD Daily 5.80 0.00 0.00 5.93 4.49 - LU0147389166 - -
Class A3 Hedged EUR Monthly 9.01 0.00 0.00 9.40 7.07 - LU0578943853 - -
Class A3 Hedged NZD Monthly 10.92 0.01 0.09 11.39 8.55 - LU0803752046 - -
Class A3 Hedged GBP Monthly 9.49 0.00 0.00 9.90 7.44 - LU0580330818 - -
Class D2 Hedged AUD None 18.76 0.01 0.05 18.90 14.22 - LU0827886895 - -
Class A2 Hedged SGD None 15.45 0.00 0.00 15.50 11.72 - LU0578945809 - -
Class D3 USD Monthly 10.03 0.00 0.00 10.27 7.77 - LU0592702061 - -
Class D2 USD None 38.59 0.01 0.03 38.64 29.02 - LU0552552704 - -
Class A3 Hedged SGD Monthly 9.68 0.00 0.00 10.01 7.54 - LU0578937376 - -
Class A3 USD Monthly 5.85 0.00 0.00 5.99 4.53 - LU0172419151 - -
Class X6 USD Monthly 10.76 0.01 0.09 11.07 8.37 - LU1376384019 - -
Class A8 Hedged AUD Monthly 8.94 0.00 0.00 9.40 7.04 - LU0871640396 - -
Class I3 USD Monthly 9.44 0.00 0.00 9.67 7.32 - LU0764821012 - -
Class A6 Hedged HKD Monthly 36.97 0.01 0.03 38.42 28.98 - LU0764619531 - -
Class A2 Hedged AUD None 17.79 0.00 0.00 18.01 13.54 - LU0578947334 - -
Class I2 USD None 15.67 0.00 0.00 15.69 11.77 - LU0822668108 - -
Class D4 Hedged GBP Annual 10.31 0.00 0.00 10.92 8.24 - LU0681219902 - -
Class D3 Hedged SGD Monthly 9.72 0.01 0.10 10.05 7.57 - LU0827886978 - -
Class D2 Hedged CHF None 11.47 0.00 0.00 11.54 8.73 - LU1090156289 - -
Class A8 Hedged ZAR Monthly 88.21 0.03 0.03 92.60 69.42 - LU1023056127 - -
Class X2 USD None 43.01 0.01 0.02 43.06 32.20 - LU0147390172 - -
Class D2 Hedged SGD None 16.24 0.01 0.06 16.26 12.27 - LU0827887273 - -
Class A6 Hedged SGD Monthly 9.06 0.00 0.00 9.51 7.15 - LU1314333441 - -

Portfolio Managers

Portfolio Managers

James Keenan
James Keenan
David Delbos
David Delbos
Mitchell Garfin
Mitchell Garfin

Literature

Literature