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Fixed Income

BMSKX

Credit Strategies Income Fund

Overview

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Performance

Performance

  • Returns

  1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
12.04 5.75 5.05 - 5.40
Benchmark (%) Index: 25BBGHY100HDG 25SPLSTALL 25BBUSCMBSIG 25JPMCEMBIBD.<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

as of Dec 31, 2019

10.86 5.24 5.08 - 5.97
Morningstar Category Avg. (%) Multisector Bond

as of Dec 31, 2019

9.80 4.81 3.84 5.09 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking.

as of Dec 31, 2019

53/302 50/262 - - -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking.

as of Dec 31, 2019

1 1 1 - -
Lipper Ranking Rankings are based on total return excluding sales charges.

as of Dec 31, 2019

57/323 41/273 - - -
Lipper Quartile Rankings are based on total return excluding sales charges.

as of Dec 31, 2019

1 1 - - -
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. Effective as of May 31, 2018, the performance information for periods prior to the inception date of the share class shows the performance of the Fund’s Institutional Shares. The performance of this share class would be substantially similar to Institutional Shares because this share class and Institutional Shares invest in the same portfolio of securities and performance would only differ to the extent that this share class and Institutional Shares have different expenses. For performance periods prior to May 31, 2018, the performance information for periods prior to the inception date of the share class shows the performance of the Fund’s Institutional Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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Distributions

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Key Facts

Key Facts

Size of Class (Millions) as of Jan 23, 2020 $101.2 M
Size of Fund (Millions) as of Jan 23, 2020 $1,359.6 M
Share Class launch date Aug 01, 2016
Asset Class Fixed Income
Morningstar Category Multisector Bond
Lipper Classification Multi-Sector Income Fds
Benchmark Index 25BBGHY100HDG 25SPLSTALL 25BBUSCMBSIG 25JPMCEMBIBD
CUSIP 09260B879
Number of Holdings as of Dec 31, 2019 1,702
Max Offer Price as of Jan 23, 2020 $10.40
Open to New Investors Yes
Turnover Percent as of Dec 31, 2019 77%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Dec 31, 2019 81.71
Beta (3y) as of Dec 31, 2019 1.04
Nominal WAL as of Dec 31, 2019 4.33 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2019 5.06%
Worst 3-Month Return Over the Last 3 Years 3 months ending Dec 31, 2018 -2.55%
Fund Standard Deviation (3y) as of Dec 31, 2019 2.60

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.

Ratings

Ratings

Morningstar Rating

4
Overall Morningstar Rating for Credit Strategies Income Fund, Class K, as of Dec 31, 2019 rated against 262 Multisector 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 Dec 31, 2019 out of 271, 5,840, 273, 186 and 273 Funds, respectively in Lipper's Multi-Sector Income Fds classification.

Holdings

Holdings

as of Dec 31, 2019
Name Weight (%)
VANECK VECTORS JP MORGAN EM LOCAL CURRENCY BD ETF 2.47
ISHARES FLOATING RATE NOTE FUND USD 1.92
ISHARES HIGH YIELD CORPORATE BOND 1.89
UNITED STATES TREASURY 1.80
POWERSHARES SENIOR LOAN PORTFOLIO 1.40
Name Weight (%)
TRANSDIGM INC 0.73
BAUSCH HEALTH COMPANIES INC 0.64
CLARIOS GLOBAL LP 0.54
ALTICE FRANCE SA (FRANCE) 0.46
REFINITIV US HOLDINGS INC 0.44

Exposure Breakdowns

Exposure Breakdowns

as of Dec 31, 2019

% of Market Value

Type Fund
as of Dec 31, 2019

% of Market Value

Type Fund
as of Dec 31, 2019

% of Market Value

Type Fund
as of Dec 31, 2019

% of Market Value

Type Fund
as of Dec 31, 2019

% of Market Value

Type Fund
as of Dec 31, 2019

% of Market Value

Type Fund
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.
BlackRock Fixed Income Funds Delivered
21 of 24 U.S. bond funds, accounting for 98% of our active mutual fund assets, outperformed within their Morningstar peer groups. Based on institutional share class.*
BlackRock Fixed Income Funds Delivered

Portfolio Managers

Portfolio Managers

James Keenan, CFA
Chief Investment Officer and Global Co-Head of Credit

     

Jose Aguilar
Portfolio manager on the Credit Enhanced Strategies Europe team

  

Jeff Cucunato
Head of Multi-Strategy Credit

     

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

  

Artur Piasecki
Senior member of the Asian Credit team

     

Portfolio Manager

Literature

Literature

 

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