Multi Asset

BLDRX

Managed Income Fund

  • NAV as of Feb 20, 2026 $9.84
    52 WK: 9.20 - 9.84
  • 1 Day NAV Change as of Feb 20, 2026 $0.02 (0.20%)
  • NAV Total Return as of Feb 20, 2026 YTD: 1.87%
  • Morningstar Rating

Overview

About this Fund

1. Core, low-cost income solution
2. Conservative, risk-managed approach
3. Seeks attractive income, with a focus on risk management

Investment Approach

The BlackRock Managed Income Fund seeks consistent income in all markets through a diversified, risk-managed approach.
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Performance

Performance

Distributions

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

Past distributions are not indicative of future distributions.

Certain Funds record and have an ex-dividend date daily on undistributed net investment income, with distributions paid monthly.

Click here for historical distribution data and here for upcoming distribution estimates

  1y 3y 5y 10y
Total Return (%) 9.91 8.46 4.15 5.04
Benchmark (%) 9.54 7.13 2.40 4.25
Morningstar Category Avg. (%) 9.59 7.45 2.77 3.90
Morningstar Ranking 34/87 30/80 12/77 14/58
Morningstar Quartile 2 2 1 1
Lipper Category Avg. (%) 7.23 5.70 -0.47 2.96
Lipper Ranking 33/388 73/371 22/330 19/225
Lipper Quartile 1 1 1 1
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 9.91 0.12 1.39 9.91 27.58 22.53 63.50
Benchmark (%) 9.54 0.24 1.63 9.54 22.95 12.57 51.58
Morningstar Category Avg. (%) 9.59 0.05 1.41 9.59 24.05 14.62 46.65
Lipper Category Avg. (%) 7.23 -0.36 0.69 7.23 18.15 -1.92 34.46
  2021 2022 2023 2024 2025
Total Return (%) 5.66 -9.10 10.35 5.19 9.91
Benchmark (%) 2.95 -11.07 7.95 3.98 9.54
Morningstar Category Avg. (%) 5.04 -10.84 7.98 5.41 9.59

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

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.

The Fund’s returns between July 29, 2013 and October 1, 2016 are the returns of the Fund when it followed different investment strategies under the name “BlackRock Investment Grade Bond Portfolio.” The Fund’s returns prior to July 29, 2013 are the returns of the Fund when it followed different investment strategies under the name “BlackRock Long Duration Bond Portfolio.” 

Click here for historical distribution data and here for upcoming distribution estimates

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Key Facts

Key Facts

Size of Fund (Millions)
as of Feb 20, 2026
$881.9 M
Share Class launch date
Oct 19, 2007
Benchmark Index
17.50% MSCI World High Div (Net)/ 60.00% US Agg / 22.50% BBG HY 2% Issuer Capped
Lipper Classification
Multi-Sector Income Fds
Max Offer Price
as of Feb 20, 2026
$9.84
Turnover Percent in the Annual Report
as of Dec 31, 2024
80.00%
Size of Class (Millions)
as of Feb 20, 2026
$88.5 M
Asset Class
Multi Asset
Morningstar Category
Conservative Allocation
CUSIP
091937193
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Jan 30, 2026
2,240
Modified Duration
as of Jan 30, 2026
3.85 yrs
Fund Standard Deviation (3y)
as of Dec 31, 2025
6.07
Unsubsidized 30-Day SEC Yield
as of Jan 31, 2026
4.91%
Effective Duration
as of Jan 30, 2026
3.56 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2023
-4.23%
30 Day SEC Yield
as of Jan 31, 2026
5.09%
R-Squared (3y)
as of Dec 31, 2025
96.62
Beta (3y)
as of Dec 31, 2025
0.98
Weighted Avg Maturity
as of Jan 30, 2026
3.30 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
9.44%

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.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.64%
Net Expense Ratio 0.42%

Net Expense Ratio excluding Investment Related Expenses is 0.33%

  • Acquired Fund Fees and Expenses 0.09%
  • Interest expense 0.00%

There is an additional management fee waiver of 0.14% related to certain affiliated investments.

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Managed Income Fund, as of Jan 31, 2026 rated against 80 Conservative Allocation Funds based on risk adjusted total return.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective Feb 11, 2026)
Analyst-Driven % as of Feb 11, 2026
100.00
Data Coverage % as of Feb 11, 2026
100.00

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 Jan 31, 2026 out of 384, 5,993, 384, 233 and 384 Funds, respectively in Lipper's Multi-Sector Income Fds classification.

Holdings

Holdings

as of Jan 30, 2026
Name Weight (%)
ISHARES CORE MSCI EMERGING MARKETS 1.03
APPLE INC - ELN 0.58
NVIDIA CORP - ELN 0.57
ALPHABET INC CLASS A - ELN 0.54
MICROSOFT CORP - ELN 0.41
Name Weight (%)
ALPHABET INC CLASS A 0.35
MICROSOFT CORP 0.34
BROADCOM INC 0.31
ISHARES CORE DIVIDEND GROWTH ETF 0.29
TAIWAN SEMICONDUCTOR MANUFACTURING 0.23
as of Jan 30, 2026
Name Weight (%)
ISHARES BROAD USD HIGH YIELD CORPO 3.20
FNMA 30YR UMBS SUPER 1.47
ISHARES JP MORGAN EM LOCAL CURRENC 0.99
UMBS 30YR TBA(REG A) 0.87
GNMA2 30YR TBA(REG C) 0.60
Name Weight (%)
FHLMC 30YR UMBS SUPER 0.60
SPCLO_24-5A B 144A 0.58
PLMRS_21-4AR A1R 144A 0.40
FNMA 30YR UMBS 0.39
REG11_18-1A AR 144A 0.34
Name Market Value Weight (%) Shares
Detailed Holdings and Analytics
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Exposure Breakdowns

Exposure Breakdowns

as of Jan 30, 2026

% Notional Exposures

Type Fund Benchmark Net
as of Jan 30, 2026

% Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Jan 30, 2026

% 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

Justin Christofel, CFA, CAIA
Justin Christofel, CFA, CAIA
Global head of Income Investing, Multi-Asset Strategies and Solutions

   

Read More

Justin Christofel, CFA, CAIA, Managing Director, is global head of Income Investing for BlackRock’s Multi-Asset Strategies & Solutions group. The MASS Income team manages strategies that seek to deliver attractive risk-adjusted income and total return across multiple risk profiles to clients globally. He is a portfolio manager for a number of income strategies including the Multi-Asset Income Fund , Dynamic High Income Fund , Managed Income Fund and Multi-Asset Income model portfolios. Justin’s focus centers on exploring the intersection of macroeconomic drivers and asset class returns and constructing portfolios that offer clients resilience in a variety of market regimes.

 

Justin’s service with the firm dates back to 2007, where prior to the launch of the Income strategies, he managed customized asset allocation portfolios for institutional investors.

 

Justin earned his BA, with honors, in economics and mathematics from Yale University.

 

Outside of work, he enjoys nearly any activity that allows him to be active, particularly tennis.

 

Multi-Asset Strategies & Solutions (MASS) meets client demand for active asset allocation strategies and whole portfolio solutions through funds, model portfolios, and more. MASS draws on the toolkit of BlackRock's index, factor, and alpha-seeking capabilities to deliver cutting-edge insights and investment outcomes.

Louis Arranz, CFA, CAIA, FRM
Louis Arranz, CFA, CAIA, FRM
Portfolio manager, Multi-Asset Strategies and Solutions (MASS) Income team

  

Read More

Louis Arranz, CFA, CAIA, FRM, Director, is a portfolio manager for BlackRock’s Multi-Asset Strategies & Solutions (MASS) Income team where he focuses on investment research and portfolio management. The MASS Income team manages strategies that seek to deliver attractive risk-adjusted income and total return across multiple risk profiles to clients globally. He is a portfolio manager for a number of income strategies including the Multi-Asset Income Fund, Dynamic High Income Fund, Managed Income Fund, and Multi-Asset Income model portfolios.

 

Prior to joining the MASS Income team in 2020, Louis was a Vice President in BlackRock's Risk & Quantitative Analysis (RQA) group, where he partnered with investments teams on fixed income risk management, quantitative analytics, and research. He began his career as an analyst with BlackRock in 2015.

 

Louis earned an M.A. in Mathematics of Finance from Columbia University, studied at Ecole Polytechnique, and holds a B.S. in Applied Mathematics from Paris Dauphine University.

 

Multi-Asset Strategies & Solutions (MASS) meets client demand for active asset allocation strategies and whole portfolio solutions through funds, model portfolios, and more. MASS draws on the toolkit of BlackRock's index, factor, and alpha-seeking capabilities to deliver cutting-edge insights and investment outcomes.

Portfolio Manager

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.

This fund does not seek to follow a sustainable, impact or ESG investment strategy. For more information regarding the fund's investment strategy, please see the fund's prospectus or, as applicable, shareholder report.

Literature

Literature