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Fixed Income

BGPAX

GNMA Fund

Overview

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Performance

Performance

  • Returns

  YTD 1m 3m 1y 3y 5y 10y
4.35 1.12 2.26 5.70 4.41 9.25 35.60
0.17 -2.92 -1.83 1.47 0.24 4.88 30.18
Benchmark (%) Index: BBG Barc Fixed-Rate GNMA MBS 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. 4.11 0.81 1.98 6.08 5.98 12.26 38.76
Morningstar Category Avg. (%) Intermediate Government 4.49 0.14 2.52 6.43 3.92 10.21 31.69
Lipper Category Avg. (%) GNMA Funds 3.94 0.83 1.96 5.37 4.12 8.97 32.59
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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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 Sep 16, 2019 $137.7 M
Size of Fund (Millions) as of Sep 16, 2019 $495.4 M
Share Class launch date May 18, 1998
Asset Class Fixed Income
Morningstar Category Intermediate Government
Lipper Classification GNMA Funds
Benchmark Index BBG Barc Fixed-Rate GNMA MBS Index
CUSIP 09260B721
Number of Holdings as of Aug 30, 2019 286
Max Offer Price as of Sep 16, 2019 $9.86
Open to New Investors Yes
Turnover Percent as of Aug 31, 2019 1,450%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Aug 31, 2019 95.43
Beta (3y) as of Aug 31, 2019 0.94
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2019 3.26%
Worst 3-Month Return Over the Last 3 Years 3 months ending Feb 28, 2018 -1.82%
Fund Standard Deviation (3y) as of Aug 31, 2019 2.30

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 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 Aug 30, 2019
Name Weight (%)
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 96.34
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I 20.72
FEDERAL NATIONAL MORTGAGE ASSOCIATION 8.96
GNMA_15-187-C 2.60
GNMA_15-55-A 2.40
Name Weight (%)
GNMA_15-103-B 1.52
FEDERAL HOME LOAN MORTGAGE CORPORATION -GOLD 1.00
UNITED STATES TREASURY 0.99
FNMA_11-8-ZA 0.62
FHLMC_4325-ZX 0.60

Exposure Breakdowns

Exposure Breakdowns

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

% Market Value

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

% Market Value

Type Fund Benchmark Net
Type Fund Benchmark Net
as of Aug 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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