Fixed Income

BSIKX

Strategic Income Opportunities Fund

  • NAV as of Apr 17, 2025 $9.47
    52 WK: 9.25 - 9.67
  • 1 Day NAV Change as of Apr 17, 2025 0.01 (0.11%)
  • NAV Total Return as of Apr 17, 2025 YTD: 1.33%

Overview

About this Fund

1. Flexible, core bond complement
2. Diversified across markets and strategies
3. Seeks total return that is consistent with preservation of capital

Investment Approach

The BlackRock Strategic Income Opportunities Fund is a flexible bond strategy that seeks to offer investors attractive income, returns and meaningful portfolio diversification.

For more information read our monthly commentary
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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 6.27 3.82 4.59 3.07
Morningstar Category Avg. (%) 5.69 3.46 4.38 2.66
Morningstar Ranking 134/273 125/260 92/238 -
Morningstar Quartile 2 2 2 2
Lipper Ranking 48/85 35/82 41/78 -
Lipper Quartile 3 2 3 -
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 1.76 -0.31 1.76 6.27 11.90 25.18 35.26
Morningstar Category Avg. (%) 1.24 -0.42 1.24 5.69 10.74 23.88 30.06
  2020 2021 2022 2023 2024
Total Return (%) 7.29 1.05 -5.56 7.36 5.39
Morningstar Category Avg. (%) 3.44 1.80 -6.27 6.95 6.18

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 17, 2018 are the returns of a predecessor fund, "BlackRock Strategic Income Opportunities Portfolio", that reorganized into the Fund on September 17, 2018. The predecessor fund had the same investment objectives, strategies and policies, portfolio management team and contractual arrangements, including the same contractual fees and expenses, as the Fund as of the date of the reorganization.

The performance information for periods prior to March 28, 2016, the commencement of operations of the share class, shows the performance of the predecessor 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. See the Fund’s prospectus for more details.
Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Apr 17, 2025
$40,900.7 M
Share Class launch date
Mar 28, 2016
Distribution Frequency
Monthly
Lipper Classification
Alt Credit Focus Funds
Max Offer Price
as of Apr 17, 2025
$9.47
Turnover Percent in the Annual Report
as of Dec 31, 2024
1,117.00%
Size of Class (Millions)
as of Apr 17, 2025
$13,634.6 M
Asset Class
Fixed Income
Morningstar Category
Nontraditional Bond
CUSIP
09260B374
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Mar 31, 2025
6,207
Alpha (3y)
as of Mar 31, 2025
0.26
R-Squared (3y)
as of Mar 31, 2025
87.00
Beta (3y)
as of Mar 31, 2025
0.55
Unsubsidized 30-Day SEC Yield
as of Mar 31, 2025
5.08%
Effective Duration
as of Mar 31, 2025
3.73 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
6.21%
30 Day SEC Yield
as of Mar 31, 2025
5.09%
Yield to Maturity
as of Mar 31, 2025
6.06%
Fund Standard Deviation (3y)
as of Mar 31, 2025
4.39
Average Coupon
as of Mar 31, 2025
5.19%
Yield to Worst
as of Mar 31, 2025
5.95%
Nominal WAL
as of Mar 31, 2025
7.21 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2022
-3.43%

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 0.66%
Net Expense Ratio 0.65%

Net Expense Ratio excluding Investment Related Expenses is 0.52%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.12%

There is an additional management fee waiver of 0.01% related to certain affiliated investments.

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - GOLD
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Feb 11, 2025)
Analyst-Driven % as of Feb 11, 2025
100.00
Data Coverage % as of Feb 11, 2025
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 Mar 31, 2025 out of 82, 6,077, 82, 42 and 82 Funds, respectively in Lipper's Alt Credit Focus Funds classification.

Holdings

Holdings

as of Mar 31, 2025
Name Weight (%)
UNIFORM MBS 16.95
N/A Issuer Name 7.90
BLACKROCK LIQUIDITY FUNDS 3.88
SPAIN (KINGDOM OF) 2.66
UNITED STATES TREASURY 2.17
Name Weight (%)
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 1.94
IRELAND (GOVERNMENT) 0.92
SOUTH AFRICA (REPUBLIC OF) 0.81
MORGAN STANLEY & CO INC CASH COLL (CCP) 0.80
CDX.NA.HY.44.V1 0.63
Name Market Value Weight (%) Shares Maturity Coupon (%)
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 Mar 31, 2025

% of Market Value

Type Fund
as of Mar 31, 2025

% of Market Value

Type Fund
as of Mar 31, 2025

% 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
Rick Rieder
Chief Investment Officer of Global Fixed Income

        

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Rick Rieder, Senior Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Fundamental Fixed Income business and Head of the Global Allocation Investment Team.

 

Responsible for managing roughly $2.4 trillion in assets, Mr. Rieder is a member of BlackRock’s Global Executive Committee (GEC) and its GEC Investment Sub-Committee. He also is Chairman of the firm-wide BlackRock Investment Council.

 

Mr. Rieder currently serves on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board. He was nominated for Outstanding Portfolio Manager by Morningstar in 2021, was awarded the Global Unconstrained Fixed Income Manager of the Year for 2015 by Institutional Investor, was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014 and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013.

 

Mr. Rieder has served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury and member of the Federal Reserve’s Investment Advisory Committee on Financial Markets.

 

Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. From 1987 to 2008, he was with Lehman Brothers where he was head of the firm's Global Principal Strategies team, a global proprietary investment platform. He was also global head of the firm's credit businesses, Chairman of the Corporate Bond and Loan Capital Commitment Committee and a member of the Board of Trustees for the corporate pension fund. Before joining Lehman Brothers, Mr. Rieder was a credit analyst at SunTrust Banks in Atlanta.

 

Mr. Rieder earned a BBA degree in Finance from Emory University in 1983 and an MBA degree from The Wharton School of the University of Pennsylvania in 1987. He is a member of the board of Emory University, Emory's Goizueta Business School, and the University's Finance Committee, and is the Vice Chairman of the Investment Committee. Mr. Rieder is founder and chairman of the Goizueta Business School's BBA investment fund and community financial literacy outreach program, Graduation Generation. Mr. Rieder serves as Chairman and President of the Board of Education for North Star Academy's fourteen Charter Schools in Newark, NJ. He is on the Board of the BlackRock Foundation, the Board of Advisors for the Hospital for Special Surgery, and the Board of Big Brothers/Big Sisters of Newark and Essex County. Mr. Rieder formerly served on the Board and National Leadership Council of the Communities in Schools Educational Foundation in Atlanta, and Trustee for the U.S. Olympic Foundation. Mr. Rieder was honored at the Choose Success Awards ceremony in Atlanta in 2015 for his dedication to public education in Atlanta through CIS and Graduation Generation.

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

    

Read More

Russell Brownback, Managing Director, is head of the Global Macro Positioning team. He is a co lead manager of the BlackRock Strategic Global Bond Fund and other flexible global aggregate mandates.


Prior to joining BlackRock in 2009, Mr. Brownback was a Senior Partner with R3 Capital Partners. From 1992 to 2008, he was with Lehman Brothers, most recently as a Managing Director and proprietary trader/portfolio manager for the Global Principal Strategies team.


Previously, he was the head of the firm's Corporate Bond trading desk and an industrial sector bond trader. During his tenure , he also traded emerging markets and cross over sovereign bonds.


Mr. Brownback earned a BA degree in economics from Hobart College in 1987 and an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University. He has been an adjunct professor for both graduate and undergraduate studies at Syracuse University's Whitman School of Business.

David Rogal
David Rogal
Managing Director, Global Fixed Income, Head of Core and Core Plus Fixed Income Strategies, Head of Inflation Linked Portfolios

 

 

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David Rogal, Managing Director, is a member of the Multi-Sector team within BlackRock's Global Fixed Income Group. Mr. Rogal is Head of Inflation Linked Portfolios and the lead investor for Core and Core Plus Strategies. He is a lead portfolio manager of BlackRock's Core Bond, Inflation Protected, Strategic Income Opportunities, Total Return Fund, and the iShares Total Return Active ETF. Mr. Rogal focuses on broad macro positioning, with specialties in interest rates, inflation, and volatility trading.

 

Mr. Rogal joined Fixed Income in 2009. Previously, he was a member of BlackRock's Multi Asset Strategies group, where he developed quantitative models and advised insurance companies, pension funds, and banks on asset-allocation and asset-liability management. Mr. Rogal began his career at BlackRock in 2006 as an analyst in the Financial Institutions Group.

 

Mr. Rogal earned a BA degree in economics and biology from Cornell University in 2006, with concentrations in statistics and genetics. He is a member of the Phi Beta Kappa society, for which he currently serves on the alumni board of directors.

Portfolio Manager
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