Fixed Income

BCBRX

Core Bond 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
6.88 4.83 3.70 3.24
Benchmark (%) 6.98 5.24 4.18 3.64
Morningstar Category Avg. (%) 5.95 4.72 3.83 3.40
Morningstar Ranking 198/391 216/354 229/316 174/239
Morningstar Quartile 2 3 3 3
Lipper Category Avg. (%) 6.90 4.97 4.15 3.64
Lipper Ranking 271/507 300/464 333/411 244/312
Lipper Quartile 3 3 4 4
  YTD 1m 3m 1y 3y 5y 10y
6.54 -0.06 1.04 6.88 15.19 19.94 37.61
Benchmark (%) 6.79 -0.05 0.62 6.98 16.56 22.71 42.91
Morningstar Category Avg. (%) 6.08 -0.39 -0.92 5.95 14.85 20.69 39.77
Lipper Category Avg. (%) 6.69 -0.06 1.25 6.90 15.67 22.57 43.20
  2015 2016 2017 2018 2019
Total Return (%) -0.14 2.13 2.64 -0.98 9.25
Benchmark (%) 0.55 2.65 3.54 0.01 8.72
Morningstar Category Avg. (%) -0.26 3.23 3.71 -0.50 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 Fund’s returns prior to September 17, 2018 are the returns of a predecessor fund 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. As a result, the performance of the Fund would have been substantially similar to that of the predecessor fund.

Key Facts

Key Facts

Size of Class (Millions) as of Nov 25, 2020 $1.6 M
Size of Fund (Millions) as of Nov 25, 2020 $4,380.2 M
Share Class launch date Oct 02, 2006
Asset Class Fixed Income
Morningstar Category Intermediate Core Bond
Lipper Classification Core Bond Funds
Benchmark Index Bloomberg Barclays US Aggregate Bond Index
CUSIP 09260B408
Distribution Frequency None
Number of Holdings as of Oct 30, 2020 1,951
Max Offer Price as of Nov 25, 2020 $10.48
Open to New Investors Yes
Turnover Percent in the Annual Report 684%

Portfolio Characteristics

Portfolio Characteristics

Alpha (3y) as of Oct 31, 2020 -0.05
R-Squared (3y) as of Oct 31, 2020 83.38
Beta (3y) as of Oct 31, 2020 1.06
30 Day SEC Yield as of Oct 31, 2020 0.77%
Unsubsidized 30-Day SEC Yield as of Oct 31, 2020 0.61%
Yield to Maturity as of Oct 30, 2020 1.78%
Yield to Worst as of Oct 30, 2020 1.70%
Effective Duration as of Oct 30, 2020 5.52 yrs
Weighted Average Life as of Oct 30, 2020 7.15 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 4.97%
Worst 3-Month Return Over the Last 3 Years 3 months ending Feb 28, 2018 -1.67%
Fund Standard Deviation (3y) as of Oct 31, 2020 3.95

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 1.19%
Net Expense Ratio 0.99%

Net Expense Ratio excluding Investment Related Expenses is 0.93%

  • Acquired Fund Fees and Expenses 0.00%
  • Interest expense 0.06%

Ratings

Ratings

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, 2020 out of 463, 6,065, 466, 289 and 466 Funds, respectively in Lipper's Core Bond Funds classification.

Holdings

Holdings

as of Oct 30, 2020
Name Weight (%)
UNITED STATES TREASURY 15.72
FEDERAL NATIONAL MORTGAGE ASSOCIATION 11.67
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 5.72
UNIFORM MBS 4.22
CHINA PEOPLES REPUBLIC OF (GOVERNMENT) 3.20
Name Weight (%)
FEDERAL HOME LOAN MORTGAGE CORPORATION 2.30
BANK OF AMERICA CORP 1.55
JPMORGAN CHASE & CO 1.22
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I 0.95
MORGAN STANLEY 0.84

Exposure Breakdowns

Exposure Breakdowns

as of Oct 30, 2020

% Notional Exposures

Type Fund Benchmark Net
as of Oct 30, 2020

% Notional Exposures

Type Fund Benchmark Net
as of Oct 30, 2020

% Notional Exposures

Type Fund Benchmark Net
as of Oct 30, 2020

% Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Oct 30, 2020

% Market Value

Type Fund Benchmark Net
as of Oct 30, 2020

% Notional Exposures

Type Fund Benchmark Net
as of Oct 30, 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

Rick Rieder, 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. Mr. Rieder is a member of BlackRock’s Executive Sub-Committee on Investments, a member of BlackRock's Global Operating Committee, and Chairman of the firm-wide BlackRock Investment Council.

 

Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. He served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury and is currently a member of the Federal Reserve Investment Advisory Committee on Financial Markets.

 

Mr. Rieder currently serves on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board. He 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. Four of the funds Mr. Rieder manages (Strategic Income Opportunities, Fixed Income Global Opportunities, Total Return, and Strategic Global Bond) have been awarded Gold Medals by Morningstar.

 

From 1987 to 2008, Mr. Rieder was with Lehman Brothers, most recently as 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 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 business school's BBA investment fund and community financial literacy program.

 

Mr. Rieder serves as Chairman and President of the Board of Education for North Star Academy's fourteen Charter Schools in Newark, New Jersey, and is the Founder and Chairman of the Board of Graduation Generation Public School Collaboration in Atlanta. 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, and Trustee for the US 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.

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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