Fixed Income

MEHQX

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
6.41 5.20 3.78 4.30
Benchmark (%) 0.71 4.65 3.10 3.44
Morningstar Category Avg. (%) 6.63 4.88 3.85 3.83
Morningstar Ranking 303/597 200/540 241/476 61/342
Morningstar Quartile 2 2 2 1
Lipper Category Avg. (%) 4.70 4.82 3.43 3.50
Lipper Ranking 104/500 135/469 104/412 18/311
Lipper Quartile 1 2 2 1
  YTD 1m 3m 1y 3y 5y 10y
-2.78 -1.33 -2.78 6.41 16.43 20.40 52.34
Benchmark (%) -3.37 -1.25 -3.37 0.71 14.62 16.51 40.25
Morningstar Category Avg. (%) -2.56 -0.96 -2.56 6.63 15.38 20.78 45.57
Lipper Category Avg. (%) -2.94 -1.06 -2.94 4.70 15.20 18.41 41.28
  2016 2017 2018 2019 2020
Total Return (%) 3.38 4.10 -1.03 9.66 8.76
Benchmark (%) 2.65 3.54 0.01 8.72 7.51
Morningstar Category Avg. (%) 3.86 4.27 -0.61 8.94 8.06
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 Jun 16, 2021 $22.6 M
Size of Fund (Millions) as of Jun 16, 2021 $20,647.5 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 Bloomberg Barclays US Aggregate Bond Index
CUSIP 09252M206
Distribution Frequency Monthly
Number of Holdings as of May 28, 2021 3,900
Max Offer Price as of Jun 16, 2021 $11.95
Open to New Investors No
Turnover Percent in the Annual Report 556%

Portfolio Characteristics

Portfolio Characteristics

Alpha (3y) as of May 31, 2021 0.02
R-Squared (3y) as of May 31, 2021 73.05
Beta (3y) as of May 31, 2021 1.07
30 Day SEC Yield as of May 31, 2021 1.25%
Unsubsidized 30-Day SEC Yield as of May 31, 2021 1.14%
Yield to Maturity as of May 28, 2021 2.59%
Yield to Worst as of May 28, 2021 2.52%
Effective Duration as of May 28, 2021 5.40 yrs
Weighted Average Life as of May 28, 2021 7.47 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 5.68%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2021 -2.78%

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.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion 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 0.62%
Net Expense Ratio 0.60%

Net Expense Ratio excluding Investment Related Expenses is 0.59%

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

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Total Return Fund, Class A1, as of May 31, 2021 rated against 545 Intermediate Core-Plus Bond 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 May 31, 2021 out of 468, 6,157, 471, 124 and 471 Funds, respectively in Lipper's Core Bond Funds classification.

Morningstar Analyst Rating

Morningstar Analyst Rating - Gold
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Nov 23, 2020)

Holdings

Holdings

as of May 28, 2021
Name Weight (%)
UNIFORM MBS 12.32
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 9.00
UNITED STATES TREASURY 8.59
FEDERAL NATIONAL MORTGAGE ASSOCIATION 4.10
FEDERAL HOME LOAN MORTGAGE CORPORATION 4.07
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNMENT) 4.04
BANK OF AMERICA CORP 1.79
MEXICO (UNITED MEXICAN STATES) (GOVERNMENT) 1.55
JPMORGAN CHASE & CO 1.30
GOLDMAN SACHS GROUP INC/THE 0.92

Exposure Breakdowns

Exposure Breakdowns

as of May 28, 2021

% Notional Exposures

Type Fund Benchmark Net
as of May 28, 2021

% Notional Exposures

Type Fund Benchmark Net
as of May 28, 2021

% Notional Exposures

Type Fund Benchmark Net
as of May 28, 2021

% Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of May 28, 2021

% Market Value

Type Fund Benchmark Net
as of May 28, 2021

% Notional Exposures

Type Fund Benchmark Net
as of May 28, 2021

% 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

Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Fundamental Fixed Income business, and Head of the Global Allocation Investment Team. Mr. Rieder is a member of BlackRock’s Executive Sub-Committee on Investments, a member of BlackRock's Global Operating Committee, and Chairman of the firm-wide BlackRock Investment Council.

 

Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. He served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury and is currently a member of the Federal Reserve Investment Advisory Committee on Financial Markets.

 

Mr. Rieder currently serves on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board. He was awarded the Global Unconstrained Fixed Income Manager of the Year for 2015 by Institutional Investor, was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014 and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013. Four of the funds Mr. Rieder manages (Strategic Income Opportunities, Fixed Income Global Opportunities, Total Return, and Strategic Global Bond) have been awarded Gold Medals by Morningstar.

 

From 1987 to 2008, Mr. Rieder was with Lehman Brothers, most recently as head of the firm's Global Principal Strategies team, a global proprietary investment platform. He was also global head of the firm's credit businesses, Chairman of the Corporate Bond and Loan Capital Commitment Committee, and a member of the Board of Trustees for the corporate pension fund. Before joining Lehman Brothers, Mr. Rieder was a credit analyst at SunTrust Banks in Atlanta.

 

Mr. Rieder earned a BBA degree in Finance from Emory University in 1983 and an MBA degree from The Wharton School of the University of Pennsylvania in 1987. He is a member of the board of Emory University, Emory's Business School, and the University's Finance Committee, and is the Vice Chairman of the Investment Committee. Mr. Rieder is founder and chairman of the business school's BBA investment fund and community financial literacy program.

 

Mr. Rieder serves as Chairman and President of the Board of Education for North Star Academy's fourteen Charter Schools in Newark, New Jersey, and is the Founder and Chairman of the Board of Graduation Generation Public School Collaboration in Atlanta. He is on the Board of the BlackRock Foundation, the Board of Advisors for the Hospital for Special Surgery, and the Board of Big Brothers/Big Sisters of Newark and Essex County. Mr. Rieder formerly served on the Board and National Leadership Council of the Communities in Schools Educational Foundation, and Trustee for the US Olympic Foundation. Mr. Rieder was honored at the Choose Success Awards ceremony in Atlanta in 2015 for his dedication to public education in Atlanta through CIS and Graduation Generation.

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

  

David Rogal
Managing Director

 

 

Portfolio Manager

Literature

Literature

 

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