Multi Asset

BLDIX

Managed Income 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
3.30 3.73 4.80 4.98
Benchmark (%) 9.96 7.67 7.34 6.79
Morningstar Category Avg. (%) 2.81 3.37 3.97 4.26
Morningstar Ranking 131/165 106/153 76/136 30/84
Morningstar Quartile 3 3 2 2
Lipper Category Avg. (%) 7.85 5.98 5.66 4.97
Lipper Ranking 197/347 134/305 112/254 31/124
Lipper Quartile 3 2 2 1
  YTD 1m 3m 1y 3y 5y 10y
1.30 -0.51 2.29 3.30 11.62 26.40 62.63
Benchmark (%) 6.97 -1.18 3.14 9.96 24.83 42.52 92.90
Morningstar Category Avg. (%) 1.27 -0.46 -0.19 2.81 10.47 21.49 51.70
Lipper Category Avg. (%) 6.95 -0.24 1.73 7.85 19.12 31.97 63.72
  2015 2016 2017 2018 2019
Total Return (%) -1.15 9.64 5.29 -0.67 9.74
Benchmark (%) 1.01 5.50 8.76 -1.06 15.37
Morningstar Category Avg. (%) -2.07 5.55 6.25 -3.14 11.20
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 between July 29, 2013 and October 1, 2016 are the returns of the Fund when it followed different investment strategies under the name “BlackRock Investment Grade Bond Portfolio.” The Fund’s returns prior to July 29, 2013 are the returns of the Fund when it followed different investment strategies under the name “BlackRock Long Duration Bond Portfolio.” 
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Key Facts

Key Facts

Size of Class (Millions) as of Dec 02, 2020 $308.7 M
Size of Fund (Millions) as of Dec 02, 2020 $665.2 M
Share Class launch date Oct 19, 2007
Asset Class MultiAsset
Morningstar Category Allocation--15% to 30% Equity
Lipper Classification Multi-Sector Income Fds
Benchmark Index 70% BBG Barc US Aggregate Bond / 30% S&P 500 Index
CUSIP 091937185
Distribution Frequency Monthly
Number of Holdings as of Oct 30, 2020 2,430
Max Offer Price as of Dec 02, 2020 $10.21
Open to New Investors Yes
Turnover Percent in the Annual Report 71%

Portfolio Characteristics

Portfolio Characteristics

Fund Sharpe Ratio (3y) as of Nov 30, 2020 0.53
30 Day SEC Yield as of Oct 31, 2020 3.25%
Unsubsidized 30-Day SEC Yield as of Oct 31, 2020 3.01%
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 7.20%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -7.63%
R-Squared (3y) as of Nov 30, 2020 75.61
Fund Standard Deviation (3y) as of Nov 30, 2020 5.87
Effective Duration 2.57 yrs

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.

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, sustainability characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons as of Oct 30, 2020 0.64%
MSCI - UN Global Compact Violators as of Oct 30, 2020 1.42%
MSCI - Nuclear Weapons as of Oct 30, 2020 0.54%
MSCI - Thermal Coal as of Oct 30, 2020 0.01%
MSCI - Civilian Firearms as of Oct 30, 2020 0.11%
MSCI - Oil Sands as of Oct 30, 2020 0.13%
MSCI - Tobacco as of Oct 30, 2020 0.89%

Business Involvement Coverage as of Oct 30, 2020 56.82%
Percentage of Fund not covered as of Oct 30, 2020 43.18%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.04% and for Oil Sands 0.41%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.76%
Net Expense Ratio 0.51%

Net Expense Ratio excluding Investment Related Expenses is 0.34%

  • Acquired Fund Fees and Expenses 0.17%
  • Interest expense 0.00%

There is an additional management fee waiver of 0.14% related to certain affiliated investments.

Ratings

Ratings

Morningstar Rating

4
Overall Morningstar Rating for Managed Income Fund, Class Inst, as of Nov 30, 2020 rated against 166 Allocation--15% to 30% Equity 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 Oct 31, 2020 out of 303, 6,065, 303, 204 and 303 Funds, respectively in Lipper's Multi-Sector Income Fds classification.

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 Dec 19, 2019)

Holdings

Holdings

as of Oct 30, 2020
Name Weight (%)
RUSSELL 2000 - ELN 0.95
UNILEVER PLC 0.21
COCA-COLA 0.21
NOVARTIS AG 0.21
TELUS CORP 0.20
Name Weight (%)
MEDTRONIC PLC 0.20
SANOFI SA 0.20
TEXAS INSTRUMENT INC 0.19
ALPHABET INC CLASS A - ELN 0.19
PAYCHEX INC 0.19
as of Oct 30, 2020
Name Weight (%)
ISHARES IBOXX $ HIGH YIELD CORP BO 5.52
Notional Cash Offset (WNZ0 FUTURE) 3.31
Notional Cash Offset (USZ0 FUTURE) 2.30
Notional Cash Offset (FVZ0 FUTURE) 1.75
Notional Cash Offset (UXYZ0 FUTURE) 1.70
Name Weight (%)
ISHARES IBOXX $ INV GRADE CORPORAT 1.57
CIFC_17-3A A1 144A 0.29
DRSLF_17-49A A 144A 0.26
VERIZON COMMUNICATIONS INC 4.272 01/15/2036 0.24
TRANSDIGM INC 144A 6.25 03/15/2026 0.24

Exposure Breakdowns

Exposure Breakdowns

as of Sep 30, 2020

% Market Value

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

% Notional Exposures

Type Fund Benchmark Net
as of Apr 28, 2017

% 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

Michael Fredericks
Head of Income Investing for BlackRock Multi-Asset Strategies Team

   

Justin Christofel, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

   

Alex Shingler, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

     

Portfolio Manager

Literature

Literature

 

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