Fixed Income

MDHQX

Total Return 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
5.64 -3.63 1.26 1.96
1.42 -4.93 0.43 1.54
Benchmark (%) 5.53 -3.31 1.10 1.81
Morningstar Category Avg. (%) 6.22 -2.99 1.48 1.93
Morningstar Ranking 443/632 374/568 322/536 163/375
Morningstar Quartile 3 3 3 2
Lipper Category Avg. (%) 5.85 -3.32 1.25 1.73
Lipper Ranking 293/518 326/487 208/459 103/335
Lipper Quartile 3 3 2 2
  YTD 1m 3m 1y 3y 5y 10y
5.64 3.75 6.66 5.64 -10.50 6.45 21.40
1.42 -0.40 2.40 1.42 -14.09 2.19 16.55
Benchmark (%) 5.53 3.83 6.82 5.53 -9.62 5.64 19.64
Morningstar Category Avg. (%) 6.22 3.83 6.77 6.22 -8.72 7.61 21.04
Lipper Category Avg. (%) 5.85 3.81 6.74 5.85 -9.60 6.43 18.86
  2019 2020 2021 2022 2023
Total Return (%) 9.54 8.58 -0.96 -14.46 5.64
Benchmark (%) 8.72 7.51 -1.54 -13.01 5.53
Morningstar Category Avg. (%) 8.94 8.06 -0.67 -13.27 6.22

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 performance information for periods prior to the inception date of the share class are based on the Fund’s Class K Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

Key Facts

Key Facts

Size of Class (Millions) as of Feb 20, 2024 $1,246.2 M
Size of Fund (Millions) as of Feb 20, 2024 $18,610.0 M
Share Class launch date Sep 24, 2007
Asset Class Fixed Income
Morningstar Category Intermediate Core-Plus Bond
Lipper Classification Core Bond Funds
Benchmark Index BBG U.S. Aggregate Index
CUSIP 09252M107
Distribution Frequency Monthly
Number of Holdings as of Jan 31, 2024 3,438
Max Offer Price as of Feb 20, 2024 $10.23
Open to New Investors Yes
Turnover Percent in the Annual Report 380%

Portfolio Characteristics

Portfolio Characteristics

Alpha (3y) as of Jan 31, 2024 -0.01
R-Squared (3y) as of Jan 31, 2024 98.64
Beta (3y) as of Jan 31, 2024 1.06
30 Day SEC Yield as of Jan 31, 2024 4.05%
Unsubsidized 30-Day SEC Yield as of Jan 31, 2024 4.05%
Yield to Maturity as of Jan 31, 2024 5.63%
Yield to Worst as of Jan 31, 2024 5.60%
Effective Duration as of Jan 31, 2024 6.05 yrs
Weighted Average Life as of Jan 31, 2024 8.50 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2024 8.63%
Worst 3-Month Return Over the Last 3 Years 3 months ending Oct 31, 2022 -8.70%
Fund Standard Deviation (3y) as of Jan 31, 2024 7.72

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.

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.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.75%
Net Expense Ratio 0.75%

Net Expense Ratio excluding Investment Related Expenses is 0.74%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - GOLD
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Nov 20, 2023)

Holdings

Holdings

as of Jan 31, 2024
Name Weight (%)
UNITED STATES TREASURY 20.04
FEDERAL NATIONAL MORTGAGE ASSOCIATION 14.92
FEDERAL HOME LOAN MORTGAGE CORPORATION 7.01
UNIFORM MBS 5.22
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 5.08
Name Weight (%)
MORGAN STANLEY 1.32
BANK OF AMERICA CORP 1.00
DIAMONDBACK ENERGY INC 0.82
GOLDMAN SACHS GROUP INC/THE 0.76
MEXICO (UNITED MEXICAN STATES) (GOVERNMENT) 0.73
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

as of Jan 31, 2024

% Notional Exposures

Type Fund Benchmark Net
as of Jan 31, 2024

% Notional Exposures

Type Fund Benchmark Net
as of Jan 31, 2024

% Notional Exposures

Type Fund Benchmark Net
as of Jan 31, 2024

% Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Jan 31, 2024

% Market Value

Type Fund Benchmark Net
as of Jan 31, 2024

% Notional Exposures

Type Fund Benchmark Net
as of Jan 31, 2024

% 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

        

Chi Chen
Managing Director

    

David Rogal
Managing Director, Global Fixed Income, Head of Core and Core Plus Fixed Income Strategies, Head of Inflation Linked Portfolios

 

 

Portfolio Manager

Literature

Literature

 

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