Fixed Income

MAHQX

Total Return 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
1.25 6.26 3.68 4.37
Benchmark (%) -0.90 5.36 2.94 3.01
Morningstar Category Avg. (%) 1.66 5.90 3.59 3.65
Morningstar Ranking 311/603 153/562 192/488 44/347
Morningstar Quartile 2 1 2 1
Lipper Category Avg. (%) 0.35 5.54 3.15 3.24
  YTD 1m 3m 1y 3y 5y 10y
-0.70 -0.67 0.08 1.25 19.99 19.82 53.33
Benchmark (%) -1.55 -0.87 0.05 -0.90 16.94 15.61 34.55
Morningstar Category Avg. (%) -0.64 -0.13 -0.96 1.66 18.76 19.34 43.02
Lipper Category Avg. (%) -1.08 -0.81 0.01 0.35 17.58 16.82 37.81
  2016 2017 2018 2019 2020
Total Return (%) 3.45 4.26 -0.88 9.82 9.01
Benchmark (%) 2.65 3.54 0.01 8.72 7.51
Morningstar Category Avg. (%) 3.86 4.27 -0.61 8.94 8.06
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 performance information for periods prior to the inception date of the share class are based on the Fund’s Class K Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

Key Facts

Key Facts

Size of Class (Millions) as of Dec 02, 2021 $11,330.1 M
Size of Fund (Millions) as of Dec 02, 2021 $21,402.3 M
Share Class launch date Sep 24, 2007
Asset Class Fixed Income
Morningstar Category Intermediate Core-Plus Bond
Lipper Classification Core Bond Funds
Benchmark Index BBG U.S. Aggregate Index
CUSIP 09252M883
Distribution Frequency Monthly
Number of Holdings as of Oct 29, 2021 4,034
Max Offer Price as of Dec 02, 2021 $11.92
Open to New Investors Yes
Turnover Percent in the Annual Report 556%

Portfolio Characteristics

Portfolio Characteristics

Alpha (3y) as of Nov 30, 2021 0.05
R-Squared (3y) as of Nov 30, 2021 71.95
Beta (3y) as of Nov 30, 2021 1.05
30 Day SEC Yield as of Oct 31, 2021 1.46%
Unsubsidized 30-Day SEC Yield as of Oct 31, 2021 1.43%
Yield to Maturity as of Oct 29, 2021 2.83%
Yield to Worst as of Oct 29, 2021 2.78%
Effective Duration as of Oct 29, 2021 6.71 yrs
Weighted Average Life as of Oct 29, 2021 8.05 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 5.63%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2021 -2.74%
Fund Standard Deviation (3y) as of Nov 30, 2021 4.30

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.

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 0.48%
Net Expense Ratio 0.45%

Net Expense Ratio excluding Investment Related Expenses is 0.44%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Total Return Fund, Class Inst, as of Nov 30, 2021 rated against 572 Intermediate Core-Plus 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 Oct 31, 2021 out of 481, 6,214, 485, 301 and 485 Funds, respectively in Lipper's Core Bond Funds classification.

Morningstar Analyst Rating

Morningstar Analyst Rating - Gold
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Nov 22, 2021)

Holdings

Holdings

as of Oct 29, 2021
Name Weight (%)
UNIFORM MBS 23.81
UNITED STATES TREASURY 9.58
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 7.24
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.49
CHINA PEOPLES REPUBLIC OF (GOVERNMENT) 2.57
Name Weight (%)
FEDERAL HOME LOAN MORTGAGE CORPORATION 2.52
BANK OF AMERICA CORP 1.50
GOLDMAN SACHS GROUP INC/THE 1.12
VERIZON COMMUNICATIONS INC 1.00
JPMORGAN CHASE & CO 0.90

Exposure Breakdowns

Exposure Breakdowns

as of Oct 29, 2021

% Notional Exposures

Type Fund Benchmark Net
as of Oct 29, 2021

% Notional Exposures

Type Fund Benchmark Net
as of Oct 29, 2021

% Notional Exposures

Type Fund Benchmark Net
as of Oct 29, 2021

% Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Oct 29, 2021

% Market Value

Type Fund Benchmark Net
as of Oct 29, 2021

% Notional Exposures

Type Fund Benchmark Net
as of Oct 29, 2021

% 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

        

Bob Miller
Head of U.S. Multi-Sector Fixed Income

  

David Rogal
Managing Director

 

 

Portfolio Manager

Literature

Literature

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