Fixed Income

MHWIX

Strategic Global Bond Fund

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

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  1y 3y 5y 10y
2.47 -4.29 -0.55 0.28
1.47 -4.29 -0.55 0.28
Benchmark (%) 0.49 -4.73 -1.17 -0.07
Morningstar Category Avg. (%) 2.45 -3.52 -0.80 -0.36
Morningstar Ranking 68/173 81/168 48/149 48/117
Morningstar Quartile 2 3 2 2
Lipper Category Avg. (%) 3.21 -2.80 -0.04 0.78
Lipper Ranking 138/230 142/207 120/193 100/144
Lipper Quartile 3 3 3 3
  YTD 1m 3m 1y 3y 5y 10y
-1.62 0.71 -1.62 2.47 -12.32 -2.71 2.80
-2.60 -0.29 -2.60 1.47 -12.32 -2.71 2.80
Benchmark (%) -2.08 0.55 -2.08 0.49 -13.53 -5.70 -0.69
Morningstar Category Avg. (%) -1.52 0.65 -1.52 2.45 -10.18 -3.96 -3.55
Lipper Category Avg. (%) -0.66 0.86 -0.66 3.21 -8.03 0.10 8.73
  2019 2020 2021 2022 2023
Total Return (%) 7.14 7.97 -2.07 -15.56 5.89
Benchmark (%) 6.84 9.20 -4.71 -16.25 5.72
Morningstar Category Avg. (%) 6.73 8.35 -4.18 -13.84 6.57

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 prior to September 1, 2015 are the returns of the Fund when it followed different investment strategies under the name “BlackRock World Income Fund, Inc.” 

Key Facts

Key Facts

Size of Class (Millions)
as of Jun 14, 2024
$3.2 M
Share Class launch date
Oct 02, 2006
Morningstar Category
Global Bond
Benchmark Index
Bloomberg Global Aggregate Bond Index
Distribution Frequency
Monthly
Max Offer Price
as of Jun 14, 2024
$5.18
Turnover Percent in the Annual Report
382.00%
Size of Fund (Millions)
as of Jun 14, 2024
$791.4 M
Asset Class
Fixed Income
Lipper Classification
Global Income Funds
CUSIP
09252X301
Number of Holdings
as of May 31, 2024
3,183
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

Alpha (3y)
as of May 31, 2024
-0.01
Beta (3y)
as of May 31, 2024
0.86
Unsubsidized 30-Day SEC Yield
as of May 31, 2024
3.47%
Yield to Worst
as of May 31, 2024
5.61%
Effective Duration
as of May 31, 2024
5.28 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Dec 31, 2023
8.18%
Fund Standard Deviation (3y)
as of May 31, 2024
7.76
R-Squared (3y)
as of May 31, 2024
94.87
30 Day SEC Yield
as of May 31, 2024
3.68%
Yield to Maturity
as of May 31, 2024
5.69%
Average Coupon
as of May 31, 2024
4.14%
Weighted Average Life
as of May 31, 2024
6.44 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2022
-8.57%

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.

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund. Learn more


This fund does not seek to follow a sustainable, impact or ESG investment strategy. The metrics do not change the fund’s investment objective or constrain the fund’s investable universe, and there is no indication that a sustainable, impact or ESG investment strategy will be adopted by the fund. For more information regarding the fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC)
as of May 19, 2024
A
MSCI ESG Quality Score (0-10)
as of May 19, 2024
6.0
Fund Lipper Global Classification
as of May 19, 2024
Bond Global USD
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of May 19, 2024
165.07
MSCI ESG % Coverage
as of May 19, 2024
67.24%
MSCI ESG Quality Score - Peer Percentile
as of May 19, 2024
30.79%
Funds in Peer Group
as of May 19, 2024
445
MSCI Weighted Average Carbon Intensity % Coverage
as of May 19, 2024
28.59%
All data is from MSCI ESG Fund Ratings as of May 19, 2024, based on holdings as of Sep 30, 2023. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

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.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. 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 -
-
MSCI - Nuclear Weapons
as of -
-
MSCI - Civilian Firearms
as of -
-
MSCI - Tobacco
as of -
-
MSCI - UN Global Compact Violators
as of -
-
MSCI - Thermal Coal
as of -
-
MSCI - Oil Sands
as of -
-

Business Involvement Coverage
as of -
-
Percentage of Fund not covered
as of -
-
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal -% and for Oil Sands -%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data 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. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in combination with other information in the research phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.76%
Net Expense Ratio 1.55%

Net Expense Ratio excluding Investment Related Expenses is 1.53%

  • Acquired Fund Fees and Expenses 0.02%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Strategic Global Bond Fund, Class C, as of May 31, 2024 rated against 159 Global Bond Funds based on risk adjusted total return.

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 May 31, 2024 out of 206, 6,133, 206, 98 and 206 Funds, respectively in Lipper's Global Income Funds classification.

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. (Effective May 31, 2024)

Holdings

Holdings

as of May 31, 2024
Name Weight (%)
UMBS 30YR TBA(REG A) 6.96
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.02 05/27/2031 1.96
GNMA2 30YR TBA(REG C) 1.96
FNMA 30YR UMBS SUPER 1.69
JAPAN (GOVERNMENT OF) 30YR #64 0.4 09/20/2049 1.25
Name Weight (%)
SPAIN (KINGDOM OF) 2.55 10/31/2032 1.09
FNMA 30YR UMBS 0.98
INDIA (REPUBLIC OF) 7.1 04/18/2029 0.95
MEXICO (UNITED MEXICAN STATES) 10 12/05/2024 0.61
SPAIN (KINGDOM OF) 3.55 10/31/2033 0.58
Name Weight (%) Shares Market Value Coupon (%) Maturity
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 May 31, 2024

% of Market Value

Type Fund Benchmark Net
as of May 31, 2024

% of Market Value

Type Fund Benchmark Net
as of May 31, 2024

% of Market Value

Type Fund Benchmark Net
as of May 31, 2024

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of May 31, 2024

% of Market Value

Type Fund Benchmark Net
as of May 31, 2024

% of Market Value

Type Fund Benchmark Net
as of May 31, 2024

% of 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

Rick Rieder
Chief Investment Officer of Global Fixed Income

        

Amer Bisat, PhD
Managing Director, Head of the Sovereign and Emerging Markets

   

Russell Brownback
Head of Global Macro Positioning Team within Global Fixed Income

    

Trevor Slaven
Managing Director, Portfolio Manager

 

 

Portfolio Manager

Literature

Literature

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