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
-15.56 -3.71 -1.25 0.01
-16.39 -3.71 -1.25 0.01
Benchmark (%)

as of Dec 31, 2022

-16.25 -4.48 -1.66 -0.44
Morningstar Category Avg. (%)

as of Dec 31, 2022

-13.84 -4.03 -1.84 -0.93
Morningstar Ranking

as of Dec 31, 2022

93/201 52/192 37/170 37/135
Morningstar Quartile

as of Dec 31, 2022

3 2 2 1
Lipper Category Avg. (%)

as of Dec 31, 2022

-13.50 -3.34 -0.79 0.31
Lipper Ranking

as of Dec 31, 2022

151/243 118/221 107/188 85/147
Lipper Quartile

as of Dec 31, 2022

3 3 3 3
  YTD 1m 3m 1y 3y 5y 10y
-15.56 -0.10 3.56 -15.56 -10.72 -6.07 0.07
-16.39 -1.09 2.56 -16.39 -10.72 -6.07 0.07
Benchmark (%)

as of Dec 31, 2022

-16.25 0.54 4.55 -16.25 -12.85 -8.01 -4.31
Morningstar Category Avg. (%)

as of Dec 31, 2022

-13.84 0.32 5.40 -13.84 -11.62 -8.87 -8.88
Lipper Category Avg. (%)

as of Dec 31, 2022

-13.50 -0.18 3.60 -13.50 -9.58 -3.69 3.81
  2018 2019 2020 2021 2022
Total Return (%) -1.81 7.14 7.97 -2.07 -15.56
Benchmark (%) -1.20 6.84 9.20 -4.71 -16.25
Morningstar Category Avg. (%) -1.48 6.73 8.35 -4.18 -13.84
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 Jan 27, 2023 $4.0 M
Size of Fund (Millions) as of Jan 27, 2023 $733.3 M
Share Class launch date Oct 02, 2006
Asset Class Fixed Income
Morningstar Category Global Bond
Lipper Classification Global Income Funds
Benchmark Index Bloomberg Global Aggregate Bond Index
CUSIP 09252X301
Distribution Frequency Monthly
Number of Holdings as of Dec 30, 2022 2,466
Max Offer Price as of Jan 27, 2023 $5.29
Open to New Investors Yes
Turnover Percent in the Annual Report 354%

Portfolio Characteristics

Portfolio Characteristics

Alpha (3y) as of Dec 31, 2022 0.02
R-Squared (3y) as of Dec 31, 2022 87.34
Beta (3y) as of Dec 31, 2022 0.87
30 Day SEC Yield as of Dec 31, 2022 2.28%
Unsubsidized 30-Day SEC Yield as of Dec 31, 2022 2.12%
Yield to Maturity as of Dec 30, 2022 5.35%
Yield to Worst as of Dec 30, 2022 5.24%
Average Coupon as of Dec 30, 2022 3.86%
Effective Duration as of Dec 30, 2022 6.00 yrs
Weighted Average Life as of Dec 30, 2022 7.31 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jul 31, 2020 5.54%
Worst 3-Month Return Over the Last 3 Years 3 months ending Oct 31, 2022 -8.57%
Fund Standard Deviation (3y) as of Dec 31, 2022 6.96

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

To be included in MSCI ESG Fund Ratings, 65% 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. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

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 Dec 30, 2022 0.02%
MSCI - UN Global Compact Violators as of Dec 30, 2022 0.41%
MSCI - Nuclear Weapons as of Dec 30, 2022 0.01%
MSCI - Thermal Coal as of Dec 30, 2022 0.00%
MSCI - Civilian Firearms as of Dec 30, 2022 0.01%
MSCI - Oil Sands as of Dec 30, 2022 0.01%
MSCI - Tobacco as of Dec 30, 2022 0.35%

Business Involvement Coverage as of Dec 30, 2022 27.83%
Percentage of Fund not covered as of Dec 30, 2022 72.17%
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 0.11% and for Oil Sands 0.13%.

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 material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion 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 1.77%
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 Dec 31, 2022 rated against 192 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 Dec 31, 2022 out of 221, 6,280, 221, 112 and 221 Funds, respectively in Lipper's Global Income Funds classification.

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 Jun 14, 2022)

Holdings

Holdings

as of Dec 30, 2022
Name Weight (%)
UMBS 30YR TBA(REG A) 8.02
UMBS 30YR TBA 2.76
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.29 05/23/2029 2.24
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.02 05/27/2031 2.19
JAPAN (GOVERNMENT OF) 30YR #64 0.4 09/20/2049 1.85
Name Weight (%)
TREASURY (CPI) NOTE 0.625 01/15/2024 1.54
FNMA 30YR UMBS 1.52
INVESCO QQQ TRUST SERIES 1.45
TREASURY (CPI) NOTE 0.5 04/15/2024 1.40
GNMA2 30YR TBA(REG C) 1.38

Exposure Breakdowns

Exposure Breakdowns

as of Dec 30, 2022

% of Market Value

Type Fund Benchmark Net
as of Dec 30, 2022

% of Market Value

Type Fund Benchmark Net
as of Dec 30, 2022

% of Market Value

Type Fund Benchmark Net
as of Dec 30, 2022

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Dec 30, 2022

% of Market Value

Type Fund Benchmark Net
as of Dec 30, 2022

% of Market Value

Type Fund Benchmark Net
as of Dec 30, 2022

% 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
Managing Director, CIO of Global Fixed Income

        

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

   

Russell Brownback
Managing Director, Head of Global Macro Positioning for Fixed-Income

    

Bob Miller
Managing Director, Head of Americas Fundamental Fixed Income

  

Trevor Slaven
Managing Director, Portfolio Manager

 

 

Portfolio Manager

Literature

Literature

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