Fixed Income

CCBBX

Core Bond Fund

Overview

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Performance

Performance

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. Effective as of May 31, 2018, the performance information for periods prior to the inception date 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. For performance periods prior to May 31, 2018, the performance information for periods prior to the inception date of the share class shows the performance of the Fund’s Institutional Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

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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Key Facts

Key Facts

Size of Class (Millions) as of Jul 02, 2020 $1,000.3 M
Size of Fund (Millions) as of Jul 02, 2020 $4,043.0 M
Share Class launch date May 01, 1997
Asset Class Fixed Income
Morningstar Category Intermediate Core Bond
Lipper Classification Core Bond Funds
Benchmark Index BBG Barc U.S. Aggregate Index
CUSIP 09260B507
Number of Holdings as of May 29, 2020 2,004
Max Offer Price as of Jul 02, 2020 $10.41
Open to New Investors Yes
Turnover Percent in the Annual Report 684%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of May 31, 2020 83.22
Beta (3y) as of May 31, 2020 1.07
Best 3-Month Return Over the Last 3 Years 3 months ending Aug 31, 2019 4.37%
Worst 3-Month Return Over the Last 3 Years 3 months ending Feb 28, 2018 -1.53%
Fund Standard Deviation (3y) as of May 31, 2020 3.84

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 Core Bond Fund, Class K, as of Jun 30, 2020 rated against 377 Intermediate Core 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 May 31, 2020 out of 468, 6,020, 471, 288 and 471 Funds, respectively in Lipper's Core Bond Funds classification.

Holdings

Holdings

as of May 29, 2020
Name Weight (%)
UNITED STATES TREASURY 19.73
UNIFORM MBS 12.42
FEDERAL NATIONAL MORTGAGE ASSOCIATION 8.83
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 7.42
JPMORGAN CHASE & CO 1.90
Name Weight (%)
BANK OF AMERICA CORP 1.64
FEDERAL HOME LOAN MORTGAGE CORPORATION 1.53
AT&T INC 0.83
MORGAN STANLEY 0.83
COMCAST CORPORATION 0.78

Exposure Breakdowns

Exposure Breakdowns

Type Fund Benchmark Net
Type Fund Benchmark Net
Type Fund Benchmark Net
as of May 29, 2020

% Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of May 29, 2020

% Market Value

Type Fund Benchmark Net
Type Fund Benchmark Net
as of May 29, 2020

% 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
Chief Investment Officer of Global Fixed Income and Head of the Global Allocation Team

    

Akiva Dickstein
Managing Director, Head of Customized Multi-Sector Portfolios

    

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

  

David Rogal
Managing Director

 

 

Portfolio Manager

Literature

Literature

 

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