Fixed Income

BPRAX

Inflation Protected 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
10.89 5.49 4.19 2.90
6.45 4.07 3.35 2.49
Benchmark (%) 10.08 5.79 4.61 3.57
Morningstar Category Avg. (%) 8.12 4.75 3.84 2.66
Morningstar Ranking 30/200 54/191 63/163 49/110
Morningstar Quartile 1 2 2 3
Lipper Category Avg. (%) 8.37 4.60 3.77 2.71
Lipper Ranking 30/209 52/198 61/170 46/111
Lipper Quartile 1 2 2 2
  YTD 1m 3m 1y 3y 5y 10y
9.63 -0.27 3.41 10.89 17.40 22.80 33.15
5.24 -4.26 -0.73 6.45 12.71 17.89 27.83
Benchmark (%) 9.22 -0.37 3.03 10.08 18.41 25.29 42.08
Morningstar Category Avg. (%) 7.36 -0.51 0.26 8.12 14.94 20.76 29.97
Lipper Category Avg. (%) 7.30 -0.28 3.09 8.37 14.54 20.52 31.06
  2015 2016 2017 2018 2019
Total Return (%) -2.43 3.89 2.75 -2.08 7.94
Benchmark (%) -1.44 4.68 3.01 -1.26 8.43
Morningstar Category Avg. (%) -2.36 4.59 2.72 -1.64 7.92
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 30, 2020 $435.7 M
Size of Fund (Millions) as of Nov 30, 2020 $2,133.7 M
Share Class launch date Jun 28, 2004
Asset Class Fixed Income
Morningstar Category Inflation-Protected Bond
Lipper Classification Infl Protected Bd Fds
Benchmark Index BBG Barc US TIPS Index, Series L
CUSIP 09260B572
Distribution Frequency None
Number of Holdings as of Oct 30, 2020 120
Max Offer Price as of Nov 30, 2020 $11.96
Open to New Investors Yes
Turnover Percent in the Annual Report 252%

Portfolio Characteristics

Portfolio Characteristics

Alpha (3y) as of Nov 30, 2020 -0.04
R-Squared (3y) as of Nov 30, 2020 97.16
Beta (3y) as of Nov 30, 2020 1.04
30 Day SEC Yield as of Oct 31, 2020 2.23%
Unsubsidized 30-Day SEC Yield as of Oct 31, 2020 2.04%
Yield to Maturity as of Oct 30, 2020 0.82%
Yield to Worst as of Oct 30, 2020 -0.66%
Effective Duration as of Oct 30, 2020 7.77 yrs
Weighted Average Life as of Oct 30, 2020 9.11 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 5.28%
Worst 3-Month Return Over the Last 3 Years 3 months ending Nov 30, 2018 -2.44%
Fund Standard Deviation (3y) as of Nov 30, 2020 4.05

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 1.27%
Net Expense Ratio 0.90%

Net Expense Ratio excluding Investment Related Expenses is 0.59%

  • Acquired Fund Fees and Expenses 0.00%
  • Interest expense 0.31%

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 198, 6,065, 198, 112 and 198 Funds, respectively in Lipper's Infl Protected Bd Fds classification.

Holdings

Holdings

as of Oct 30, 2020
Name Weight (%)
TREASURY (CPI) NOTES 0.125 04/15/2022 8.76
TREASURY (CPI) NOTE 0.125 01/15/2023 5.81
CHINA PEOPLES REPUBLIC OF (GOVERNM 1.99 04/09/2025 4.33
TREASURY (CPI) NOTE 0.125 01/15/2030 4.21
TREASURY NOTE 0.625 08/15/2030 4.20
Name Weight (%)
TREASURY (CPI) NOTE 0.375 07/15/2023 3.68
TREASURY (CPI) NOTE 0.625 01/15/2024 3.59
TREASURY (CPI) NOTE 0.125 07/15/2024 3.45
TREASURY (CPI) NOTE 0.125 01/15/2022 3.40
TREASURY (CPI) NOTE 0.375 07/15/2025 3.34

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

Christopher Allen
Christopher Allen
David Rogal
Managing Director

 

 

Portfolio Manager

Literature

Literature

 

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