Fixed Income

BCRKX

Advantage CoreAlpha Bond Fund

Overview

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Performance

Performance

  1y 3y 5y 10y
12.96 -1.74 0.42 2.03
Benchmark (%) 11.57 -1.39 0.33 1.84
Morningstar Category Avg. (%) 10.57 -2.14 -0.11 1.42
Morningstar Ranking 27/473 304/430 180/386 -
Morningstar Quartile 1 4 2 1
Lipper Ranking 70/521 340/481 257/451 -
Lipper Quartile 1 3 3 -
  YTD 1m 3m 1y 3y 5y 10y
5.52 1.74 5.79 12.96 -5.14 2.14 22.25
Benchmark (%) 4.45 1.34 5.20 11.57 -4.11 1.67 20.04
Morningstar Category Avg. (%) 2.17 -2.41 0.27 10.57 -4.10 2.16 18.97
  2019 2020 2021 2022 2023
Total Return (%) 9.78 8.93 -1.93 -14.19 5.46
Benchmark (%) 8.72 7.51 -1.54 -13.01 5.53
Morningstar Category Avg. (%) 8.06 7.52 -1.48 -13.32 5.59

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 for periods prior to the inception date of the share class are based on the performance of the master portfolio in which the Fund invested all of its assets, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

The Fund’s returns prior to September 17, 2018 are the returns of a predecessor fund that reorganized into the Fund on September 17, 2018. The predecessor fund had the same investment objectives, strategies and policies, portfolio management team and contractual arrangements, including the same contractual fees and expenses, as the Fund as of the date of the reorganization. As a result, the performance of the Fund would have been substantially similar to that of the predecessor fund.   
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Key Facts

Key Facts

Size of Fund (Millions)
as of Dec 10, 2024
$700.8 M
Share Class launch date
Mar 28, 2016
Benchmark Index
BBG U.S. Aggregate Index
Morningstar Category
Intermediate Core Bond
CUSIP
09260T409
Open to New Investors
Yes
Size of Class (Millions)
as of Dec 10, 2024
$55.4 M
Asset Class
Fixed Income
Distribution Frequency
None
Lipper Classification
Core Bond Funds
Max Offer Price
as of Dec 10, 2024
$8.76
Turnover Percent in the Annual Report
as of Dec 31, 2023
201%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Nov 29, 2024
1,349
Alpha (3y)
as of Oct 31, 2024
-0.01
R-Squared (3y)
as of Oct 31, 2024
99.22
Beta (3y)
as of Oct 31, 2024
1.02
Unsubsidized 30-Day SEC Yield
as of Oct 31, 2024
4.67%
Effective Duration
as of Nov 29, 2024
5.96 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
8.66%
30 Day SEC Yield
as of Oct 31, 2024
4.73%
Yield to Maturity
as of Nov 29, 2024
5.03%
Fund Standard Deviation (3y)
as of Oct 31, 2024
7.93
Average Coupon
as of Nov 29, 2024
4.26%
Yield to Worst
as of Nov 29, 2024
5.00%
Nominal WAL
as of Nov 29, 2024
8.15 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Apr 30, 2022
-8.41%
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

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.30%
Net Expense Ratio 0.24%

Net Expense Ratio excluding Investment Related Expenses is 0.24%

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

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. (Effective Oct 31, 2024)
Analyst-Driven % as of Oct 31, 2024
55.00
Data Coverage % as of Oct 31, 2024
100.00

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 Nov 30, 2024 out of 483, 6,082, 486, 313 and 486 Funds, respectively in Lipper's Core Bond Funds classification.

Holdings

Holdings

as of Nov 29, 2024
Name Weight (%)
UNITED STATES TREASURY 20.39
FEDERAL NATIONAL MORTGAGE ASSOCIATION 11.94
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 5.52
FEDERAL HOME LOAN MORTGAGE CORPORATION 4.25
UNIFORM MBS 2.36
Name Weight (%)
GOLDMAN SACHS GROUP INC/THE 0.90
FEDERAL HOME LOAN MORTGAGE CORPORATION -GOLD 0.82
JPMORGAN CHASE & CO 0.80
WELLS FARGO & COMPANY 0.78
OMFIT_19-2A-A 0.77
Name Market Value Weight (%) Shares Maturity Coupon (%)
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 Nov 29, 2024

% of Market Value

Type Fund Benchmark Net
as of Nov 29, 2024

% of Market Value

Type Fund Benchmark Net
as of Nov 29, 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

Scott Radell
Managing Director, Systematic Fixed Income

  

Jeffrey Rosenberg, CFA
Managing Director, Systematic Fixed Income

   

Jasmita Mohan
Portfolio Manager, Systematic Fixed Income

 

 

Portfolio Manager

Literature

Literature

 

Funds related to BCRKX

Funds related to BCRKX

BHYIX
High Yield Fund
MAHQX
Total Return Fund
HYG
iShares iBoxx $ High Yield Corporate Bond ETF
AGG
iShares Core U.S. Aggregate Bond ETF

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