Managed Income Fund

Filter list by keyword Show All Show Fewer to of Total Sorry, no data available.

How To Buy

NAV as of Jul 02, 2020 $9.85
52 WK: 8.67 - 10.15
1 Day NAV Change as of Jul 02, 2020 0.03 (0.31%)
NAV Total Return as of Jul 02, 2020 YTD: -0.57% YTD (year to date) is a period, starting from the beginning of the current calendar year, and continuing up to the prior day's close.
Neutral

Overview

Managing income for a better outcome

The BlackRock Managed Income Fund seeks consistent income in all markets through a diversified, risk-managed approach.

Core, low-cost income solution

Conservative, risk-managed approach

Seeks attractive income, with a focus on risk management

Get insights

Time to rethink your income strategy

The scarcity of decent yields has driven determined income-seekers into fewer, more highly correlated asset classes.
Get the story

Get the story

Next: Previous:

Performance

Returns

	1y	3y	5y	10y
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.	2.01	3.12	4.09	5.08
Return w/ Sales Charge (%) Max Sales Charge: 4.00	-2.07	1.73	3.25	4.65
Benchmark (%) Index: 70% BBG Barc US Aggregate Bond / 30% S&P 500 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.	8.87	7.25	6.45	7.00
Morningstar Category Avg. (%) Allocation--15% to 30% Equity	2.62	3.37	3.54	4.88
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking.	132/192	124/175	46/157	38/94
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking.	3	3	2	2

Performance data is not currently available

	YTD	1m	3m	1y	3y	5y	10y
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.	-1.09	0.79	7.13	2.01	9.67	22.21	64.18
Return w/ Sales Charge (%) Max Sales Charge: 4.00	-5.05	-3.24	2.84	-2.07	5.28	17.32	57.62
Benchmark (%) Index: 70% BBG Barc US Aggregate Bond / 30% S&P 500 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.	3.71	1.04	8.04	8.87	23.37	36.68	96.75
Morningstar Category Avg. (%) Allocation--15% to 30% Equity	-0.73	1.30	8.02	2.62	10.47	19.01	61.01

Performance data is not currently available

	2015	2016	2017	2018	2019
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.	-1.48	9.33	5.03	-0.82	9.36
Benchmark (%) Index: 70% BBG Barc US Aggregate Bond / 30% S&P 500 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.	1.01	5.50	8.76	-1.06	15.37
Morningstar Category Avg. (%) Allocation--15% to 30% Equity	-2.07	5.55	6.25	-3.14	11.20

Performance data is not currently available

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.”

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.

Performance chart data not available for display.

Growth of Hypothetical $10,000
Historical NAVs

Managed Income Fund ($)

Cum. Fund Perf. Since Inception: 103.56

Source: Lipper. Data reflects different methodology from the BlackRock calculated returns in the Returns tab. The $10,000 Hypothetical Over Time chart reflects a hypothetical $10,000 investment in the investor class of shares noted and does not assume the max sales charge. Had sales charge been included, returns would have been lower. The chart uses total return NAV performance and assumes reinvestment of dividends and capital gains. Fund expenses, including 12b-1 fees, management fees and other expenses were deducted. Performance for other share classes will vary.

Historical NAVs

Distributions

Interactive chart displaying fund performance. Javascript is required.

Recent
Calendar Year

Chart
Table

Interactive chart displaying fund performance. Javascript is required.

Ex-Date	Payable Date	Record Date	Total Distribution Current year distributions are not classified as “Income,” “Short-Term Capital Gains,” “Long-Term Capital Gains,” or “Return of Capital” until approximately 60 days following calendar year-end.	Income	ST Cap Gains	LT Cap Gains	Return of Capital

Chart
Table

Interactive chart displaying fund performance. Javascript is required.

Year	Total Distribution Current year distributions are not classified as “Income,” “Short-Term Capital Gains,” “Long-Term Capital Gains,” or “Return of Capital” until calendar year-end.	Income	ST Cap Gains	LT Cap Gains

Past distributions are not indicative of future distributions.
Click here, for the most recent distributions.

The scarcity of decent yields has driven determined income-seekers into fewer, more highly correlated asset classes.

Get the story Get the story

Key Facts

Size of Class (Millions) as of Jul 02, 2020 $206.0 M

Size of Fund (Millions) as of Jul 02, 2020 $593.7 M

Share Class launch date Oct 19, 2007

Asset Class Fixed Income

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 091937219

Distribution Frequency How often a distribution is paid by the fund. The most common distribution frequencies are annually, biannually and quarterly. Monthly

Number of Holdings as of May 29, 2020 2,282

Max Offer Price as of Jul 02, 2020 $10.26

Open to New Investors Yes

Turnover Percent in the Annual Report 71%

Portfolio Characteristics

Fund Sharpe Ratio (3y) Compared to 70% BBG Barc US Aggregate Bond / 30% S&P 500 Index. A ratio to measure risk-adjusted performance. The Sharpe ratio is calculated by subtracting the risk-free rate - such as that of the 10-year U.S. Treasury bond - from the rate of return for a portfolio and dividing the result by the standard deviation of the portfolio returns. as of May 31, 2020 0.24

30 Day SEC Yield A standard calculation of yield introduced by the SEC in order to provide fairer comparison among funds. This yield reflects the interest earned after deducting the fund's expenses during the most recent 30-day period by the average investor in the fund. Negative 30-Day SEC Yield results when accrued expenses of the past 30 days exceed the income collected during the past 30 days. as of May 31, 2020 3.05%

Unsubsidized 30-Day SEC Yield Represents what a fund's 30-Day SEC Yield would have been had no fee waiver or expense reimbursement been in place over the period. as of May 31, 2020 2.87%

Effective Duration Effective Duration measures the sensitivity of the price of a bond with or without embedded options to changes in interest rates, taking into account the likelihood of the bond being called, put and/or sunk prior to its final maturity date while incorporating after-tax impacts on the bond. The options-based duration model used by BlackRock employs certain assumptions and may differ from other fund complexes. Effective Duration is measured at the individual bond level, aggregated to the portfolio level, and adjusted for leverage, hedging transactions and non-bond holdings, including derivatives. as of May 29, 2020 1.55 yrs

Best 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2019 3.78%

Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -7.69%

R-Squared (3y) as of May 31, 2020 72.20

Fund Standard Deviation (3y) as of May 31, 2020 5.47

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

as of current prospectus

Gross Expense Ratio	0.97%
Net Expense Ratio The difference between gross and net expense ratios are due to contractual and/or voluntary waivers, if applicable. Any applicable contractual waiver will be terminable upon 90 days’ notice. BlackRock may agree to voluntarily waive certain fees and expenses, which the adviser may discontinue at any time without notice. For this share class, the contractual waiver end date is Apr 30, 2021.	0.76%

Net Expense Ratio excluding Investment Related Expenses is 0.59%

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

Ratings

Lipper Leader

Lipper Leader Ratings

Consistent Return Managed Income Fund received the following Consistent Return ratings for the 3-, 5-, and 10-year periods, respectively: 4 (299 funds), 4 (245 funds), and 2 (120 funds). Lipper ratings for Consistent Return reflect funds' historical risk-adjusted returns, adjusted for volatility, relative to peers.

Expense Managed Income Fund received the following Expense ratings for the 3-, 5-, and 10-year periods, respectively: 5 (102 funds), 5 (88 funds), and 5 (47 funds). Lipper ratings for Expense reflect funds' expense minimization relative to peers with similar load structures.

Preservation Managed Income Fund received the following Preservation ratings for the 3-, 5-, and 10-year periods, respectively: 3 (6,020 funds), 3 (5,180 funds), and 2 (3,399 funds). Lipper ratings for Preservation reflect funds' historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds.

Tax Efficiency Managed Income Fund received the following Tax Efficiency ratings for the 3-, 5-, and 10-year periods, respectively: 3 (299 funds), 3 (245 funds), and 2 (120 funds). Lipper ratings for Tax Efficiency (US) reflect funds' historical success in postponing taxable distributions relative to peers. Tax Efficiency (US) offers no benefit to investors in tax-sheltered accounts such as retirement plans.

Total Return Managed Income Fund received the following Total Return ratings for the 3-, 5-, and 10-year periods, respectively: 4 (299 funds), 4 (245 funds), and 4 (120 funds). Lipper ratings for Total Return reflect funds' historical total return performance relative to peers.

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 May 31, 2020 out of 299, 6,020, 299, 102 and 299 Funds, respectively in Lipper's Multi-Sector Income Fds classification.

as of May 29, 2020

Name	Weight (%)
ISHARES EMERGING MARKETS DIVIDEND	0.16
GENERAL MOTORS - ELN	0.10
INTEL CORPORATION CORP - ELN	0.10
CISCO SYSTEMS INC - ELN	0.10
MCKESSON CORP - ELN	0.08

Name	Weight (%)
HOME DEPOT INC - ELN	0.08
ELECTRONIC ARTS INC - ELN	0.08
TARGET CORP - ELN	0.08
BRISTOL MYERS SQUIBB - ELN	0.08
DARDEN RESTAURANTS INC - ELN	0.07

as of May 29, 2020

Name	Weight (%)
Notional Cash Offset (FVU0 FUTURE)	10.96
ISHARES MBS ETF	5.75
Notional Cash Offset (WNU0 FUTURE)	2.05
Notional Cash Offset (USU0 FUTURE)	1.92
Notional Cash Offset (UXYU0 FUTURE)	1.86

Name	Weight (%)
ISHARES IBOXX $ INV GRADE CORPORAT	1.70
Notional Cash Offset (TYU0 FUTURE)	0.82
ABBVIE INC 144A 3.45 03/15/2022	0.32
CIFC_17-3A A1 144A	0.32
SHIRE ACQUISITIONS INVESTMENTS IRE 2.4 09/23/2021	0.31

Exposure Breakdowns

as of May 29, 2020

% Market Value

Type	Fund	Benchmark	Net

Show All Show Fewer

Allocations subject to change.

as of May 29, 2020

% Notional Exposures % of Notional Exposures is a breakdown designed to represent a fund’s ownership of both traditional fixed income securities and derivatives including, but not limited to, futures, options and swap contracts. For traditional fixed income securities, there is no difference between the market value and the notional exposure. For derivatives, the notional exposure represents the exposure to the underlying assets plus the value of the financing (or lending) associated with the implementation of these derivatives. The sum of all exposures (both market value and notional exposure) is equal to the fund’s net asset value (open-end) or net managed assets (closed-end). Net Derivatives represents the approximate net notional value of the longs less the short derivatives held in the fund.

Type	Fund	Benchmark	Net

Show All Show Fewer

as of Apr 28, 2017

% Notional Exposures % of Notional Exposures is a breakdown designed to represent a fund’s ownership of both traditional fixed income securities and derivatives including, but not limited to, futures, options and swap contracts. For traditional fixed income securities, there is no difference between the market value and the notional exposure. For derivatives, the notional exposure represents the exposure to the underlying assets plus the value of the financing (or lending) associated with the implementation of these derivatives. The sum of all exposures (both market value and notional exposure) is equal to the fund’s net asset value (open-end) or net managed assets (closed-end). Net Derivatives represents the approximate net notional value of the longs less the short derivatives held in the fund.

Type	Fund	Benchmark	Net

Show All Show Fewer

as of May 29, 2020

% Market Value

Type	Fund	Benchmark	Net

Show All Show Fewer

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.