Fixed Income

BCRKX

CoreAlpha Bond 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
7.72 5.78 4.64 3.93
Benchmark (%) 6.98 5.24 4.18 -
Morningstar Category Avg. (%) 6.66 4.88 3.94 3.49
Morningstar Ranking 78/417 30/380 - -
Morningstar Quartile 1 1 1 -
Lipper Ranking 116/507 48/464 - -
Lipper Quartile 1 1 - -
  YTD 1m 3m 1y 3y 5y 10y
7.59 -0.16 1.04 7.72 18.36 25.44 47.06
Benchmark (%) 6.79 -0.05 0.62 6.98 16.56 22.71 -
Morningstar Category Avg. (%) 6.50 -0.04 0.94 6.66 15.37 21.30 40.87
  2015 2016 2017 2018 2019
Total Return (%) - 2.46 4.14 -0.14 9.78
Benchmark (%) 0.55 2.65 3.54 0.01 8.72
Morningstar Category Avg. (%) -0.26 3.23 3.71 -0.50 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 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.   

Key Facts

Key Facts

Size of Class (Millions) as of Oct 23, 2020 $42.5 M
Size of Fund (Millions) as of Oct 23, 2020 $1,649.2 M
Share Class launch date Mar 28, 2016
Asset Class Fixed Income
Morningstar Category Intermediate Core Bond
Lipper Classification Core Bond Funds
Benchmark Index BBG Barc U.S. Aggregate Index
CUSIP 09260T409
Distribution Frequency None
Number of Holdings as of Sep 30, 2020 1,397
Max Offer Price as of Oct 23, 2020 $11.09
Open to New Investors Yes
Turnover Percent in the Annual Report 263%

Portfolio Characteristics

Portfolio Characteristics

Alpha (3y) as of Sep 30, 2020 0.00
R-Squared (3y) as of Sep 30, 2020 85.67
Beta (3y) as of Sep 30, 2020 1.11
30 Day SEC Yield as of Sep 30, 2020 1.62%
Unsubsidized 30-Day SEC Yield as of Sep 30, 2020 1.56%
Yield to Maturity as of Sep 30, 2020 1.94%
Yield to Worst as of Sep 30, 2020 1.91%
Average Coupon as of Sep 30, 2020 4.64%
Effective Duration as of Sep 30, 2020 6.21 yrs
Nominal WAL as of Sep 30, 2020 6.25 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 5.46%
Worst 3-Month Return Over the Last 3 Years 3 months ending Feb 28, 2018 -1.61%
Fund Standard Deviation (3y) as of Sep 30, 2020 4.05
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

Fees

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

Net Expense Ratio excluding Investment Related Expenses is 0.23%

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

Ratings

Ratings

Morningstar Rating

5
Overall Morningstar Rating for CoreAlpha Bond Fund, Class K, as of Sep 30, 2020 rated against 380 Intermediate Core 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 Sep 30, 2020 out of 460, 6,011, 464, 285 and 464 Funds, respectively in Lipper's Core Bond Funds classification.

Holdings

Holdings

as of Sep 30, 2020
Name Weight (%)
UNIFORM MBS 11.24
FEDERAL NATIONAL MORTGAGE ASSOCIATION 7.23
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 6.35
FEDERAL HOME LOAN MORTGAGE CORPORATION 4.20
FEDERAL HOME LOAN MORTGAGE CORPORATION -GOLD 1.96
Name Weight (%)
GOLDMAN SACHS GROUP INC/THE 1.40
BANK OF AMERICA CORP 0.89
JPMORGAN CHASE & CO 0.86
GENERAL MOTORS FINANCIAL CO INC 0.77
SHERWIN-WILLIAMS COMPANY (THE) 0.74

Exposure Breakdowns

Exposure Breakdowns

as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 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

Scott Radell
Head of Core Portfolio Management, Systematic Fixed Income

  

Jeffrey Rosenberg
Sr. Portfolio Manager, Systematic Fixed Income

   

Karen Uyehara
Core Portfolio Manager, Systematic Fixed Income

  

Portfolio Manager

Literature

Literature

 

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