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Fixed Income

MSUMX

U.S. Mortgage Fund

Overview

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Performance

Performance

  • Returns

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.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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Distributions

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BlackRock Fixed Income Funds Delivered
19 of 24 U.S. bond funds, accounting for 97% of our active mutual fund assets, outperformed within their Morningstar peer groups. Based on institutional share class.*
BlackRock Fixed Income Funds Delivered

Key Facts

Key Facts

Size of Class (Millions) as of Oct 17, 2019 $246.1 M
Size of Fund (Millions) as of Oct 17, 2019 $279.7 M
Share Class launch date Jul 29, 2005
Asset Class Fixed Income
Morningstar Category Intermediate Core Bond
Lipper Classification US Mortgage Funds
Benchmark Index BBG Barc MBS Index
CUSIP 56166L303
Number of Holdings as of Sep 30, 2019 489
Max Offer Price as of Oct 17, 2019 $10.23
Open to New Investors Yes
Turnover Percent as of Sep 30, 2019 841%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Sep 30, 2019 95.63
Beta (3y) as of Sep 30, 2019 0.88
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2019 3.21%
Worst 3-Month Return Over the Last 3 Years 3 months ending Dec 31, 2016 -1.72%
Fund Standard Deviation (3y) as of Sep 30, 2019 2.24

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.

Ratings

Ratings

Morningstar Rating

4
Overall Morningstar Rating for U.S. Mortgage Fund, Class Inst, as of Sep 30, 2019 rated against 356 Intermediate Core Bond Funds.

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 Aug 31, 2019 out of 111, 5,851, 111, 78 and 111 Funds, respectively in Lipper's US Mortgage Funds classification.

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Apr 23, 2019) ‡

Holdings

Holdings

as of Sep 30, 2019
Name Weight (%)
UMBS 30YR TBA(REG A) 13.53
GNMA2 30YR TBA(REG C) 11.99
GNMA2 30YR 2016 PRODUCTION 11.08
GNMA2 30YR 2019 PRODUCTION 3.72
FNMA 30YR 2011 PRODUCTION 2.49
Name Weight (%)
FHLMC 30YR UMBS MIRROR 2.32
FNMA 30YR 4% LLB 85K 2016 1.45
FNMA 30YR 4.5% MLB 125K 2018 1.45
FORD0_19-B A4 1.41
FHLMC 30YR UMBS SUPER 1.33

Exposure Breakdowns

Exposure Breakdowns

Type Fund Benchmark Net
Type Fund Benchmark Net
Type Fund Benchmark Net
as of Sep 30, 2019

% Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Sep 30, 2019

% Market Value

Type Fund Benchmark Net
Type Fund Benchmark Net
as of Sep 30, 2019

% 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

Matthew Kraeger
Lead Portfolio Manager, Mortgage Portfolios

    

Siddharth Mehta
Portfolio Manager, Mortgage Portfolios

   

Portfolio Manager

Literature

Literature

 

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