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Overview
Performance
Performance
Growth of Hypothetical $10,000
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Distributions
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Returns
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Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.
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.
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 Oct 03, 2023
$23,467.3 M
Size of Fund (Millions)
as of Oct 03, 2023
$34,466.4 M
Share Class launch date
Feb 05, 2008
Asset Class
Fixed Income
Morningstar Category
Nontraditional Bond
Lipper Classification
Alt Credit Focus Funds
Benchmark Index
BBG U.S. Universal Index
CUSIP
09260B382
Number of Holdings
as of Aug 31, 2023
4,442
Max Offer Price
as of Oct 03, 2023
$8.98
Open to New Investors
Yes
Turnover Percent in the Annual Report
894%
Portfolio Characteristics
Portfolio Characteristics
Best 3-Month Return Over the Last 3 Years
3 months ending Dec 31, 2020
4.11%
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2022
-3.46%
Fund Standard Deviation (3y)
as of Aug 31, 2023
3.57
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% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage 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. 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. 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.
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 0.13% and for Oil Sands 0.55%.
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.
ESG Integration
ESG Integration
ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.
The Fund manager includes ESG considerations in combination with other information in the research phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.
There is an additional management fee waiver of 0.01% related to certain affiliated investments.
Holdings
Holdings
as of Aug 31, 2023
| Name | Weight (%) |
|---|---|
| UNITED STATES TREASURY | 11.45 |
| UNIFORM MBS | 9.46 |
| SPAIN (KINGDOM OF) | 2.87 |
| FEDERAL HOME LOAN MORTGAGE CORPORATION | 1.42 |
| MEXICO (UNITED MEXICAN STATES) (GOVERNMENT) | 1.16 |
| Name | Weight (%) |
|---|---|
| BANK OF AMERICA CORP | 0.64 |
| MORGAN STANLEY | 0.55 |
| GERMANY (FEDERAL REPUBLIC OF) | 0.54 |
| JPMORGAN CHASE & CO | 0.53 |
| ISHARES JPMORGAN USD EMERGING MARKETS BOND FUND | 0.52 |
| Name | Weight (%) | Shares | Market Value | Coupon (%) | Maturity |
|---|
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.
Exposure Breakdowns
Exposure Breakdowns
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
Literature
Literature
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