Fixed Income

BONAX

GNMA 529 Option

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

This fund does not have any distributions.
  1y 3y 5y 10y
1.84 -3.62 -1.27 0.17
-1.21 -4.59 -1.87 -0.14
Benchmark (%) 2.22 -2.50 -0.66 0.83
Morningstar Category Avg. (%) 4.89 0.64 1.51 1.42
Morningstar Ranking 187/190 167/170 146/149 101/104
Morningstar Quartile 4 4 4 4
  YTD 1m 3m 1y 3y 5y 10y
-1.06 0.91 -0.25 1.84 -10.46 -6.18 1.67
-4.03 -2.11 -3.24 -1.21 -13.15 -8.99 -1.38
Benchmark (%) -1.01 1.02 0.05 2.22 -7.32 -3.27 8.59
Morningstar Category Avg. (%) 1.60 0.59 0.91 4.89 1.92 7.76 15.14
  2019 2020 2021 2022 2023
Total Return (%) 6.04 3.80 -1.54 -12.93 4.78
Benchmark (%) 5.85 3.68 -1.45 -10.76 5.40
Morningstar Category Avg. (%) 4.95 3.50 0.46 -4.71 5.27

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.

Key Facts

Key Facts

Size of Class (Millions)
as of Jul 11, 2024
$4.7 M
Share Class launch date
Oct 05, 2009
Benchmark Index
Bloomberg U.S. GNMA Bond Index (USD)
Max Offer Price
$12.70
Size of Fund (Millions)
as of Jul 11, 2024
$5.3 M
Asset Class
Fixed Income
CUSIP
19452P800
Open to New Investors
Yes
Expenses as of current program description

Portfolio Characteristics

Portfolio Characteristics

Alpha (3y)
as of Jun 30, 2024
-0.08
Beta (3y)
as of Jun 30, 2024
1.05
Yield to Maturity
as of Jun 28, 2024
5.35%
Nominal WAL
as of Jun 28, 2024
9.32 yrs
Fund Standard Deviation (3y)
as of Jun 30, 2024
8.20
R-Squared (3y)
as of Jun 30, 2024
99.16
30 Day SEC Yield
as of Jun 28, 2024
3.31%
Yield to Worst
as of Jun 28, 2024
5.35%
Effective Duration
5.55 yrs
This information must be preceded or accompanied by a current program description. For standardized performance, please see the Performance section above.

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 program description
Gross Expense Ratio 0.81%
Net Expense Ratio 0.81%

Net Expense Ratio excluding Investment Related Expenses is 0.39%

  • Acquired Fund Fees and Expenses 0.42%
  • Interest expense 0.00%

Ratings

Holdings

Holdings

as of Jun 28, 2024
Name Weight (%)
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 101.09
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I 11.02
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.28
FNMA_24-38A-FE 2.26
GNMA_15-187D-C 1.89
Name Weight (%)
FNMA_24-30D-FC 1.87
GNMA_15-55-A 1.43
GNMA_15-79-MY 0.99
FHLMC_4325-ZX 0.91
GNMA_20-149H-IA 0.78
The portfolio holds a mutual fund and/or an ETF. Top holdings from the underlying vehicles are listed above for greater visibility

Exposure Breakdowns

Exposure Breakdowns

as of Jun 28, 2024

% of Market Value

Type Fund Benchmark Net
as of Jun 28, 2024

% of Market Value

Type Fund Benchmark Net
as of Jun 28, 2024

% of Market Value

Type Fund Benchmark Net
as of Jun 28, 2024

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Feb 28, 2020

% of Market Value

Type Fund Benchmark Net
as of Jun 28, 2024

% of Market Value

Type Fund Benchmark Net
as of Feb 28, 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

Matthew Kraeger
Managing Director, Global Fixed Income

    

Siddharth Mehta
Portfolio Manager, Mortgage Portfolios

   

Portfolio Manager

Literature

Literature

 

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