Fixed Income

BCBAX

Core Bond Fund

Overview

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Performance

Performance

  YTD 1m 3m 1y 3y 5y 10y
5.58 0.96 5.04 8.17 15.63 21.09 44.03
1.35 -3.08 0.84 3.84 11.00 16.25 38.27
Benchmark (%) Index: BBG Barc U.S. Aggregate Index.<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. 6.14 0.63 2.90 8.74 16.83 23.45 45.55
Morningstar Category Avg. (%) Intermediate Core Bond 7.10 1.49 3.35 9.17 16.33 22.13 43.57
Lipper Category Avg. (%) Core Bond Funds 5.40 1.24 4.95 7.83 15.18 21.59 45.62
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.

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 Aug 04, 2020 $516.9 M
Size of Fund (Millions) as of Aug 04, 2020 $4,151.1 M
Share Class launch date Jan 31, 1996
Asset Class Fixed Income
Morningstar Category Intermediate Core Bond
Lipper Classification Core Bond Funds
Benchmark Index BBG Barc U.S. Aggregate Index
CUSIP 09260B101
Number of Holdings as of Jun 30, 2020 1,982
Max Offer Price as of Aug 04, 2020 $11.00
Open to New Investors Yes
Turnover Percent in the Annual Report 684%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Jul 31, 2020 83.58
Beta (3y) as of Jul 31, 2020 1.09
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 5.04%
Worst 3-Month Return Over the Last 3 Years 3 months ending Feb 28, 2018 -1.61%
Fund Standard Deviation (3y) as of Jul 31, 2020 3.96

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

Holdings

Holdings

as of Jun 30, 2020
Name Weight (%)
UNIFORM MBS 12.03
UNITED STATES TREASURY 11.28
FEDERAL NATIONAL MORTGAGE ASSOCIATION 9.48
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 7.19
JPMORGAN CHASE & CO 1.93
Name Weight (%)
FEDERAL HOME LOAN MORTGAGE CORPORATION 1.59
BANK OF AMERICA CORP 1.46
ISHARES IBOXX INVESTMENT GRADE CORPORATE BOND FUND ETF 1.00
MORGAN STANLEY 0.93
AT&T INC 0.78

Exposure Breakdowns

Exposure Breakdowns

Type Fund Benchmark Net
Type Fund Benchmark Net
Type Fund Benchmark Net
as of Jun 30, 2020

% Market Value

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

% Market Value

Type Fund Benchmark Net
Type Fund Benchmark Net
as of Jun 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

    

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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