Fixed Income

BGF US Dollar High Yield Bond Fund

  • NAV as of 18/Jul/2025 HKD 31.50
    52 WK: 29.96 - 32.35
  • 1 Day NAV Change as of 18/Jul/2025 0.05 (0.16%)

Overview

Investment Approach


The Fund aims to maximise the return on your investment through a combination of capital growth and income on the Fund’s assets and invest in a manner consistent with the principles of environmental, social and governance (ESG) investing.

The Fund invests at least 70% of its total assets in fixed income securities denominated in US dollars. These include bonds and money market instruments (i.e. debt securities with short term maturities).

At least 70% of the Fund’s total assets will include investments with a relatively low credit rating or which are unrated. The remainder may include investments which are investment grade (i.e. meet a specified level of credit worthiness) at the time of purchase.

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

Non-investment grade fixed income securities are more sensitive to changes in interest rates and present greater ‘Credit Risk’ than higher rated fixed income securities. Derivatives may be highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way. The Fund seeks to exclude companies engaging in certain activities inconsistent with ESG criteria. Investors should therefore make a personal ethical assessment of the Fund’s ESG screening prior to investing in the Fund. Such ESG screening may adversely affect the value of the Fund’s investments compared to a fund without such screening.

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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

Chart

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Source: For UK-domiciled funds (such as the BlackRock Retail Authorised Unit Trusts and BlackRock Collective Investment Funds 'BCIF'), performance is shown on a bid to bid price basis, with net income reinvested, in the currency indicated on the chart. Performance is shown net of fees. For Luxembourg-domiciled funds (such as BlackRock Global Funds 'BGF' and BlackRock Strategic Funds 'BSF'), performance is shown on a net asset value basis, with gross income reinvested, in the currency indicated in the chart. Performance is shown net of fees. Past performance is not a guide to future performance.

Distributions

Ex-Date Total Distribution
View full table
Ex-Date Total Distribution
For more information: +44 (0) 20 7743 3300 • www.blackrock.com • investor.services@blackrock.com

This chart shows the product's performance as the percentage loss or gain per year over the last 10 years.

  2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Return (%) -5.1 12.7 6.0 -4.4 13.6 5.8 4.1 -12.7 11.1 6.1
Constraint Benchmark 1 (%) -4.4 17.1 7.5 -2.1 14.3 7.0 5.3 -11.2 13.4 8.2

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1y 3y 5y 10y Incept.
Total Return (%) 7.50 7.76 4.21 3.56 4.01
Constraint Benchmark 1 (%) 10.29 9.93 5.96 5.37 5.73
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 3.59 1.41 3.30 3.59 7.50 25.13 22.88 41.89 68.22
Constraint Benchmark 1 (%) 4.57 1.84 3.53 4.57 10.29 32.84 33.57 68.75 109.16
  From
30-Jun-2020
To
30-Jun-2021 		From
30-Jun-2021
To
30-Jun-2022 		From
30-Jun-2022
To
30-Jun-2023 		From
30-Jun-2023
To
30-Jun-2024 		From
30-Jun-2024
To
30-Jun-2025
Total Return (%)

as of 30/Jun/2025

14.01 -13.86 6.66 9.13 7.50
Constraint Benchmark 1 (%)

as of 30/Jun/2025

15.34 -12.82 9.07 10.43 10.29

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in HKD, 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

Net Assets of Fund
as of 18/Jul/2025
USD 2,667,778,454
Fund Launch Date
29/Oct/1993
Fund Base Currency
USD
Constraint Benchmark 1
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index (USD)
SDR classification
ESG Overseas
Ongoing Charges Figures
1.46%
ISIN
LU0764619531
Minimum Initial Investment
USD 5,000.00
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
USD High Yield Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
B5KQSY2
Share Class launch date
02/Apr/2012
Share Class Currency
HKD
Asset Class
Fixed Income
SFDR Classification
Article 8
Initial Charge
5.00%
Management Fee
1.25%
Performance Fee
0.00%
Minimum Subsequent Investment
-
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGUHA6H

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30/Jun/2025
1144
Standard Deviation (3y)
as of 30/Jun/2025
6.59%
Yield to Maturity
as of 30/Jun/2025
6.97
Weighted Average YTM
as of 30/Jun/2025
6.57%
Weighted Avg Maturity
as of 30/Jun/2025
3.63
12 Month Trailing Dividend Distribution Yield
as of 30/Jun/2025
7.09
3y Beta
as of 30/Jun/2025
0.967
Modified Duration
as of 30/Jun/2025
3.91
Effective Duration
as of 30/Jun/2025
2.84
WAL to Worst
as of 30/Jun/2025
3.63

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Holdings

Holdings

as of 30/Jun/2025
Name Weight (%)
HUB INTERNATIONAL LTD 144A 7.375 01/31/2032 1.11
ATHENAHEALTH GROUP INC 144A 6.5 02/15/2030 1.01
MAUSER PACKAGING SOLUTIONS HOLDING 144A 7.875 04/15/2027 0.95
1261229 BC LTD 144A 10 04/15/2032 0.93
UKG INC 144A 6.875 02/01/2031 0.85
Name Weight (%)
HUB INTERNATIONAL LTD 144A 7.25 06/15/2030 0.84
CLOUD SOFTWARE GROUP INC 144A 9 09/30/2029 0.80
EMRLD BORROWER LP 144A 6.625 12/15/2030 0.77
ALLIED UNIVERSAL HOLDCO LLC 144A 7.875 02/15/2031 0.76
CLOUD SOFTWARE GROUP INC 144A 8.25 06/30/2032 0.67
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30/Jun/2025

% of Market Value

Type Fund Benchmark Net
as of 30/Jun/2025

% of Market Value

Type Fund Benchmark Net
as of 30/Jun/2025

% 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

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class A6 Hedged HKD 31.50 0.05 0.16 18/Jul/2025 32.35 29.96 LU0764619531
Class A2 EUR 37.38 -0.20 -0.53 18/Jul/2025 37.81 36.95 LU3051934373
Class A2 Hedged AUD 20.36 0.04 0.20 18/Jul/2025 20.39 18.94 LU0578947334
Class D4 Hedged CAD 10.43 0.02 0.19 18/Jul/2025 10.45 9.72 LU2903325087
Class D4 Hedged GBP 10.04 0.02 0.20 18/Jul/2025 10.06 9.31 LU0681219902
Class A10 USD 10.10 0.02 0.20 18/Jul/2025 10.28 9.54 LU2725778034
Class A3 Hedged GBP 8.81 0.01 0.11 18/Jul/2025 8.86 8.31 LU0580330818
Class D2 USD 48.01 0.08 0.17 18/Jul/2025 48.06 44.06 LU0552552704
Class A2 Hedged SGD 17.62 0.02 0.11 18/Jul/2025 17.66 16.48 LU0578945809
Class D2 Hedged EUR 260.10 0.43 0.17 18/Jul/2025 260.61 242.77 LU0532707519
Class A3 Hedged AUD 10.14 0.02 0.20 18/Jul/2025 10.24 9.57 LU0578942376
Class D3 USD 9.61 0.02 0.21 18/Jul/2025 9.65 9.04 LU0592702061
Class A3 Hedged SGD 8.79 0.01 0.11 18/Jul/2025 8.98 8.33 LU0578937376
Class A8 Hedged CNH 89.76 0.15 0.17 18/Jul/2025 90.77 84.90 LU1919856218
Class D2 Hedged AUD 22.18 0.04 0.18 18/Jul/2025 22.21 20.51 LU0827886895
Class I2 Hedged GBP 12.22 0.02 0.16 18/Jul/2025 12.23 11.23 LU2242188931
Class A3 Hedged NZD 10.21 0.01 0.10 18/Jul/2025 10.34 9.65 LU0803752046
Class A2 Hedged CHF 11.40 0.02 0.18 18/Jul/2025 11.43 10.72 LU1090155554
Class A6 USD 4.39 0.01 0.23 18/Jul/2025 4.46 4.15 LU0738912566
Class A3 Hedged EUR 7.89 0.02 0.25 18/Jul/2025 8.05 7.48 LU0578943853
Class D2 Hedged CHF 12.26 0.02 0.16 18/Jul/2025 12.29 11.51 LU1090156289
Class I2 USD 19.65 0.04 0.20 18/Jul/2025 19.67 18.00 LU0822668108
Class SR2 Hedged GBP 11.06 0.02 0.18 18/Jul/2025 11.07 10.15 LU2810381256
Class I2 Hedged EUR 13.50 0.03 0.22 18/Jul/2025 13.52 12.59 LU1111085798
Class A6 Hedged SGD 7.63 0.01 0.13 18/Jul/2025 7.89 7.26 LU1314333441
Class A4 Hedged GBP 10.03 0.02 0.20 18/Jul/2025 10.04 9.32 LU0706698544
Class A3 USD 5.60 0.01 0.18 18/Jul/2025 5.63 5.27 LU0172419151
Class A8 Hedged AUD 7.93 0.01 0.13 18/Jul/2025 8.04 7.50 LU0871640396
Class D3 Hedged SGD 8.82 0.02 0.23 18/Jul/2025 9.01 8.36 LU0827886978
Class A3 Hedged CAD 9.22 0.02 0.22 18/Jul/2025 9.38 8.73 LU0803751741
Class A1 USD 5.54 0.01 0.18 18/Jul/2025 5.56 5.22 LU0046675905
Class SR3 USD 9.32 0.02 0.22 18/Jul/2025 9.36 8.77 LU2319962812
Class I3 USD 9.05 0.01 0.11 18/Jul/2025 9.09 8.52 LU0764821012
Class I4 Hedged GBP 8.71 0.01 0.11 18/Jul/2025 8.73 8.08 LU1111085442
Class A6 Hedged JPY 941.00 1.00 0.11 18/Jul/2025 994.00 901.00 LU2725778117
Class A2 Hedged EUR 236.16 0.39 0.17 18/Jul/2025 236.67 220.86 LU0330917963
Class SR4 Hedged EUR 10.67 0.02 0.19 18/Jul/2025 10.69 9.95 LU2810381173
Class D2 Hedged SGD 19.15 0.03 0.16 18/Jul/2025 19.19 17.87 LU0827887273
Class A2 USD 43.61 0.07 0.16 18/Jul/2025 43.67 40.29 LU0046676465
Class SR4 Hedged GBP 9.53 0.02 0.21 18/Jul/2025 9.54 8.83 LU2319962655
Class SR2 Hedged EUR 10.88 0.02 0.18 18/Jul/2025 10.90 10.14 LU2319962572
Class I2 Hedged CHF 10.16 0.02 0.20 18/Jul/2025 10.19 9.53 LU2344713685
Class SR2 USD 11.85 0.02 0.17 18/Jul/2025 11.86 10.84 LU2319962739
Class A8 Hedged ZAR 80.14 0.14 0.18 18/Jul/2025 81.40 75.75 LU1023056127

Portfolio Managers

Portfolio Managers

David Delbos
David Delbos
Mitchell Garfin
Mitchell Garfin

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Literature

Literature