Fixed Income

BOHAX

High Yield Bond 529 Option

Buy BOHAX
  • NAV as of Dec 12, 2024 $26.66
    52 WK: 23.78 - 26.69
  • 1 Day NAV Change as of Dec 12, 2024 -0.03 (-0.11%)
  • NAV Total Return as of Dec 12, 2024 YTD: 9.04%

Overview

Balancing income and risk in High Yield

The BlackRock High Yield Bond Fund has helped investors achieve high levels of income and capital appreciation with a disciplined, research-intensive investment process.

A high income solution

Flexible in changing market conditions

Seeks high income to maximize total return

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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 15.19 3.17 4.44 4.52
Return w/ Sales Charge (%) 11.74 2.13 3.80 4.20
Benchmark (%) 15.73 3.09 4.70 5.04
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 7.94 1.19 4.52 15.19 9.82 24.25 55.60
Return w/ Sales Charge (%) 4.70 -1.85 1.38 11.74 6.53 20.52 50.93
Benchmark (%) 8.00 1.62 5.28 15.73 9.57 25.83 63.52
  2019 2020 2021 2022 2023
Total Return (%) 14.87 5.37 5.49 -10.78 13.14
Annual w/ Sales Charge (%) 10.27 1.16 1.27 -14.34 9.75
Benchmark (%) 14.32 7.05 5.26 -11.18 13.44

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.
Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Dec 12, 2024
$24.2 M
Share Class launch date
Oct 05, 2009
Benchmark Index
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index
CUSIP
19452P875
Open to New Investors
Yes
Size of Class (Millions)
as of Dec 12, 2024
$22.3 M
Asset Class
Fixed Income
Distribution Frequency
None
Max Offer Price
as of Dec 12, 2024
$27.48
Expenses as of current program description

Portfolio Characteristics

Portfolio Characteristics

30 Day SEC Yield
as of Nov 29, 2024
6.26%
Yield to Maturity
as of Nov 29, 2024
7.43%
Fund Standard Deviation (3y)
as of Nov 30, 2024
8.54
Average Coupon
as of Nov 29, 2024
-0.01%
Yield to Worst
as of Nov 29, 2024
7.10%
Nominal WAL
as of Nov 29, 2024
7.60 yrs
Alpha (3y)
as of Nov 30, 2024
0.01
R-Squared (3y)
as of Nov 30, 2024
99.30
Beta (3y)
as of Nov 30, 2024
1.00
Unsubsidized 30-Day SEC Yield
as of Nov 29, 2024
6.26%
Effective Duration
as of Nov 29, 2024
1.71 yrs
This information must be preceded or accompanied by a current program description. For standardized performance, please see the Performance section above.

Fees

Fees

as of current program description
Gross Expense Ratio 0.94%
Net Expense Ratio 0.94%

Net Expense Ratio excluding Investment Related Expenses is 0.39%

  • Acquired Fund Fees and Expenses 0.55%
  • Interest expense 0.00%

Holdings

Holdings

Name Market Value Weight (%) Shares Maturity Coupon (%)
as of Nov 29, 2024
Name Weight (%)
VENTURE GLOBAL LNG INC 2.01
CLOUD SOFTWARE GROUP INC 1.92
TRANSDIGM INC 1.90
HUB INTERNATIONAL LTD 1.87
LEVEL 3 FINANCING INC 1.38
Name Weight (%)
ALLIANT HOLDINGS INTERMEDIATE LLC 1.26
ATHENAHEALTH GROUP INC 1.08
ALLIED UNIVERSAL HOLDCO LLC 1.06
CCO HOLDINGS LLC 1.02
FORTRESS TRANSPORTATION AND INFRASTRUCTURE INVESTORS LLC 0.93
Detailed Holdings and Analytics
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 Nov 29, 2024

% of Market Value

Type Fund Benchmark Net
as of Jul 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Jul 31, 2024

% 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

Mitchell S. Garfin, CFA
Mitchell S. Garfin, CFA
Co-Head of U.S. High Yield in Global Credit team

  

Read More

Mitchell S. Garfin, CFA, Managing Director, is the Co-Head of U.S. High Yield within BlackRock's Global Credit team. He is also responsible for managing Global High Yield strategies. 

 

Mr. Garfin joined BlackRock in 1997 as an analyst in the Account Management Group working with taxable financial institutional clients. He joined the Portfolio Management Group in 2000 as a credit research analyst and in 2005 moved to portfolio management.  Mr. Garfin moved to his current role in 2007 and serves as Head of the Global Credit Human Capital Committee.

 

Mr. Garfin earned a BA degree, with distinction, in finance from the University of Michigan in 1997, and an MBA degree in finance and economics from New York University in 2005.

David Delbos
David Delbos
Managing Director

David Delbos, Managing Director, is the Co-Head of U.S. High Yield within BlackRock's Global Credit team.

Read More

David Delbos, Managing Director, is the Co-Head of U.S. High Yield within BlackRock's Global Credit team. He is also responsible for managing Global High Yield strategies.

 

Mr. Delbos joined BlackRock in 2002 as a credit research analyst in the Leveraged Finance Group. He transitioned to a portfolio management role in 2012. 

 

Prior to joining the Leveraged Finance team at BlackRock in 2002, Mr. Delbos was an analyst at Deutsche Bank Securities Inc.

 

Mr. Delbos earned a BA degree, Magna Cum Laude, in history from Tufts University in 2000.

Mitchell S. Garfin, CFA
Mitchell S. Garfin, CFA
Co-Head of U.S. High Yield in Global Credit team

  

Read More

Mitchell S. Garfin, CFA, Managing Director, is the Co-Head of U.S. High Yield within BlackRock's Global Credit team. He is also responsible for managing Global High Yield strategies. 

 

Mr. Garfin joined BlackRock in 1997 as an analyst in the Account Management Group working with taxable financial institutional clients. He joined the Portfolio Management Group in 2000 as a credit research analyst and in 2005 moved to portfolio management.  Mr. Garfin moved to his current role in 2007 and serves as Head of the Global Credit Human Capital Committee.

 

Mr. Garfin earned a BA degree, with distinction, in finance from the University of Michigan in 1997, and an MBA degree in finance and economics from New York University in 2005.

Derek Schoenhofen
Derek Schoenhofen
Portfolio Manager

Literature

Literature

 

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