Fixed Income

MKWIX

Strategic Global Bond Fund

Overview

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Performance

Performance

  1y 3y 5y 10y
12.81 -1.59 0.74 1.71
Benchmark (%) 11.99 -3.06 -0.83 0.57
Morningstar Category Avg. (%) 9.32 -2.42 -0.89 0.07
Morningstar Ranking 48/174 62/173 28/151 -
Morningstar Quartile 2 2 2 1
Lipper Ranking 57/217 118/206 69/189 -
Lipper Quartile 2 3 2 -
  YTD 1m 3m 1y 3y 5y 10y
4.22 1.80 6.31 12.81 -4.71 3.75 18.48
Benchmark (%) 3.60 1.70 6.98 11.99 -8.89 -4.09 5.86
Morningstar Category Avg. (%) 0.64 -2.93 0.60 9.32 -5.37 -1.15 3.36
  2019 2020 2021 2022 2023
Total Return (%) 8.26 9.10 -1.19 -14.67 7.01
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 performance information for periods prior to November 13, 2015, the commencement of operations of the share class, shows the performance of the Fund’s Institutional Shares. The performance of this share class would be substantially similar to Institutional Shares because this share class and Institutional Shares invest in the same portfolio of securities and performance would only differ to the extent that this share class and Institutional Shares have different expenses.

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.” 

See the Fund’s prospectus for more details.
Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Dec 03, 2024
$821.4 M
Share Class launch date
Nov 13, 2015
Benchmark Index
Bloomberg Global Aggregate Bond Index
Morningstar Category
Global Bond
CUSIP
09252X608
Open to New Investors
Yes
Size of Class (Millions)
as of Dec 03, 2024
$212.5 M
Asset Class
Fixed Income
Distribution Frequency
None
Lipper Classification
Global Income Funds
Max Offer Price
as of Dec 03, 2024
$5.27
Turnover Percent in the Annual Report
as of Dec 31, 2023
382.00%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Oct 31, 2024
1,913
Alpha (3y)
as of Oct 31, 2024
0.08
R-Squared (3y)
as of Oct 31, 2024
95.68
Beta (3y)
as of Oct 31, 2024
0.86
Unsubsidized 30-Day SEC Yield
as of Oct 31, 2024
4.35%
Effective Duration
as of Oct 31, 2024
5.34 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Dec 31, 2023
8.25%
30 Day SEC Yield
as of Oct 31, 2024
4.50%
Yield to Maturity
as of Oct 31, 2024
4.58%
Fund Standard Deviation (3y)
as of Oct 31, 2024
8.20
Average Coupon
as of Oct 31, 2024
4.47%
Yield to Worst
as of Oct 31, 2024
4.48%
Nominal WAL
as of Oct 31, 2024
6.60 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2022
-8.31%

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% (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. 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 Oct 31, 2024
0.01%
MSCI - Nuclear Weapons
as of Oct 31, 2024
0.01%
MSCI - Civilian Firearms
as of Oct 31, 2024
0.00%
MSCI - Tobacco
as of Oct 31, 2024
0.00%
MSCI - UN Global Compact Violators
as of Oct 31, 2024
0.24%
MSCI - Thermal Coal
as of Oct 31, 2024
0.00%
MSCI - Oil Sands
as of Oct 31, 2024
0.00%

Business Involvement Coverage
as of Oct 31, 2024
28.67%
Percentage of Fund not covered
as of Oct 31, 2024
71.33%
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 0.27% and for Oil Sands 0.22%.

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

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.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.65%
Net Expense Ratio 0.50%

Net Expense Ratio excluding Investment Related Expenses is 0.48%

  • 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, as of Nov 30, 2024 rated against 163 Global Bond Funds based on risk adjusted total return.

Morningstar Medalist Rating

Morningstar Medalist Rating - GOLD
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective May 31, 2024)
Analyst-Driven % as of May 31, 2024
100.00
Data Coverage % as of May 31, 2024
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 Oct 31, 2024 out of 207, 6,105, 207, 408 and 207 Funds, respectively in Lipper's Global Income Funds classification.

Holdings

Holdings

as of Oct 31, 2024
Name Weight (%)
UMBS 30YR TBA(REG A) 7.07
CHINA PEOPLES REPUBLIC OF (GOVERNM 1.67 06/15/2026 2.22
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.02 05/27/2031 1.97
GNMA2 30YR TBA(REG C) 1.75
FNMA 30YR UMBS SUPER 1.61
Name Weight (%)
FNMA 30YR UMBS 1.54
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.05 04/15/2029 1.32
SPAIN (KINGDOM OF) 2.55 10/31/2032 1.06
SPAIN (KINGDOM OF) 3.55 10/31/2033 0.93
INDIA (REPUBLIC OF) 7.1 04/18/2029 0.90
Name Market Value Weight (%) Shares Maturity Coupon (%)
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 Oct 31, 2024

% of Market Value

Type Fund
as of Oct 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Oct 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Oct 31, 2024

% of Market Value

Type Fund
as of Oct 31, 2024

% of Market Value

Type Fund
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

    

Dylan Price
Director

  

Portfolio Manager

Literature

Literature

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