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Fixed Income

BHYRX

High Yield Bond 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. The performance information for periods prior to the inception date of the share class is based on 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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BlackRock Fixed Income Funds Delivered
21 of 24 U.S. bond funds, accounting for 98% 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 Dec 13, 2019 $125.4 M
Size of Fund (Millions) as of Dec 13, 2019 $17,722.4 M
Share Class launch date Oct 02, 2006
Asset Class Fixed Income
Morningstar Category High Yield Bond
Lipper Classification High Yield Funds
Benchmark Index BBG Barc US Corp High Yield 2% Issuer Capped Index
CUSIP 09260B622
Number of Holdings as of Nov 29, 2019 1,236
Max Offer Price as of Dec 13, 2019 $7.75
Open to New Investors Yes
Turnover Percent as of Nov 30, 2019 102%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Nov 30, 2019 98.15
Beta (3y) as of Nov 30, 2019 1.08
Best 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2019 7.13%
Worst 3-Month Return Over the Last 3 Years 3 months ending Dec 31, 2018 -5.56%
Fund Standard Deviation (3y) as of Nov 30, 2019 4.41

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 High Yield Bond Fund, Retirement, as of Nov 30, 2019 rated against 615 High Yield 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 Nov 30, 2019 out of 418, 5,840, 419, 229 and 419 Funds, respectively in Lipper's High Yield Funds classification.

Morningstar Analyst Rating

Morningstar Analyst Rating - Gold
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Oct 01, 2019) ‡

Holdings

Holdings

as of Nov 29, 2019
Name Weight (%)
TRANSDIGM INC 2.29
ISHARES IBOXX DOLLAR HIGH YIELD CORPORATE BOND FUND 2.00
BAUSCH HEALTH COMPANIES INC 1.78
TENET HEALTHCARE CORPORATION 1.52
CSC HOLDINGS LLC 1.49
Name Weight (%)
ALTICE FRANCE SA (FRANCE) 1.37
CCO HOLDINGS LLC 1.19
CLARIOS GLOBAL LP 1.13
FREEPORT-MCMORAN INC 1.08
BOMBARDIER INC 0.99

Exposure Breakdowns

Exposure Breakdowns

Type Fund Benchmark Net
Type Fund Benchmark Net
Type Fund Benchmark Net
as of Nov 29, 2019

% Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Nov 29, 2019

% Market Value

Type Fund Benchmark Net
Type Fund Benchmark Net
as of Nov 29, 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

James Keenan, CFA
Chief Investment Officer and Global Co-Head of Credit

     

David Delbos
Managing Director

    

Mitchell S. Garfin, CFA
Co-Head of U.S. High Yield in Global Credit team

  

Derek Schoenhofen
Derek Schoenhofen
Portfolio Manager

Literature

Literature

 

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