Fixed Income

MDWIX

Strategic Global Bond Fund

Overview

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Performance

Performance

  YTD 1m 3m 1y 3y 5y 10y
3.01 1.22 5.85 4.03 12.24 22.43 34.53
-1.11 -2.83 1.62 -0.13 7.75 17.53 29.15
Benchmark (%) Index: Bloomberg Barclays Global Aggregate Bond 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. 2.98 0.89 3.32 4.22 11.81 19.09 31.94
Morningstar Category Avg. (%) World Bond 0.57 1.39 6.02 1.60 6.89 13.48 25.91
Lipper Category Avg. (%) Global Income Funds 1.51 1.32 5.92 3.24 10.05 17.38 35.38
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 1, 2015 are the returns of the Fund when it followed different investment strategies under the name “BlackRock World Income Fund, Inc.” 

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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Key Facts

Key Facts

Size of Class (Millions) as of Jul 07, 2020 $68.6 M
Size of Fund (Millions) as of Jul 07, 2020 $559.7 M
Share Class launch date Oct 21, 1994
Asset Class Fixed Income
Morningstar Category World Bond
Lipper Classification Global Income Funds
Benchmark Index Bloomberg Barclays Global Aggregate Bond Index
CUSIP 09252X103
Number of Holdings as of May 29, 2020 2,823
Max Offer Price as of Jul 07, 2020 $6.54
Open to New Investors Yes
Turnover Percent in the Annual Report 373%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of May 31, 2020 78.47
Beta (3y) as of May 31, 2020 1.07
Average Coupon as of May 29, 2020 0.00%
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 5.85%
Worst 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2018 -3.35%
Fund Standard Deviation (3y) as of May 31, 2020 4.74

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 Strategic Global Bond Fund, Class A, as of Jun 30, 2020 rated against 187 World Bond Funds based on risk adjusted total return.

Morningstar Analyst Rating

Morningstar Analyst Rating - Gold
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Jul 02, 2020) ‡

Holdings

Holdings

as of May 29, 2020
Name Weight (%)
UMBS 30YR TBA(REG A) 6.02
JAPAN (GOVERNMENT OF) 30YR #64 0.4 09/20/2049 3.13
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.29 05/23/2029 2.95
GNMA2 30YR TBA(REG C) 1.92
TREASURY (CPI) NOTE 0.125 10/15/2024 1.37
Name Weight (%)
TREASURY (CPI) NOTE 0.5 04/15/2024 1.29
ITALY (REPUBLIC OF) 0.95 03/01/2023 1.13
ISHARES IBOXX $ HIGH YIELD CORP BO 0.95
SPAIN (KINGDOM OF) 0.5 04/30/2030 0.94
INDONESIA (REPUBLIC OF) 8.375 04/15/2039 0.94

Exposure Breakdowns

Exposure Breakdowns

as of May 29, 2020

% of Market Value

Type Fund Benchmark Net
as of May 29, 2020

% of Market Value

Type Fund Benchmark Net
as of May 29, 2020

% of Market Value

Type Fund Benchmark Net
as of May 29, 2020

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of May 29, 2020

% of Market Value

Type Fund Benchmark Net
as of May 29, 2020

% of Market Value

Type Fund Benchmark Net
as of May 29, 2020

% of 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

Rick Rieder
Chief Investment Officer of Global Fixed Income and Head of the Global Allocation Team

    

Amer Bisat
Emerging Markets Portfolio Manager

   

Russell Brownback
Russell Brownback
Bob Miller
Head of U.S. Multi-Sector Fixed Income

  

Trevor Slaven
Trevor Slaven
Portfolio Manager

Literature

Literature

 

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