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Name

As of 07/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BlackRock Sustainable Total Return Fund

BASTX | Fund

$8.23

$41.7 M

4.15%

$0.34

2.04%

Vitals

YTD Return

0.6%

1 yr return

3.3%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$41.7 M

Holdings in Top 10

31.2%

52 WEEK LOW AND HIGH

$8.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.04%

SALES FEES

Front Load 4.00%

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 07/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BlackRock Sustainable Total Return Fund

BASTX | Fund

$8.23

$41.7 M

4.15%

$0.34

2.04%

BASTX - Profile

Distributions

  • YTD Total Return 0.6%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 4.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BlackRock Sustainable Total Return Fund
  • Fund Family Name
    BlackRock-Advised Funds
  • Inception Date
    Oct 18, 2021
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Rick Rieder

Fund Description

The Fund typically invests more than 90% of its assets in a diversified portfolio of fixed-income securities. The fixed-income securities in which the Fund invests include:
■ U.S. Government debt securities
■ Corporate debt securities issued by U.S. and foreign companies
■ Asset-backed securities
■ Mortgage-backed securities
■ Preferred securities issued by U.S. and foreign companies
■ Corporate debt securities and preferred securities convertible into common stock
■ Foreign sovereign debt instruments
■ Money market securities
Under normal circumstances, the Fund invests at least 80% of its assets in bonds. For the purposes of this strategy, “bonds” include the following: obligations issued or guaranteed by the U.S. Government or a foreign government or their agencies, instrumentalities or political subdivisions; mortgage-backed securities, including agency mortgage pass-through securities and commercial mortgage-backed securities; mortgage to-be-announced (“TBA”) securities; debt obligations of U.S. or foreign issuers; municipal securities; and asset-backed securities. The Fund invests primarily in fixed-income securities that are rated in the four highest rating categories by at least one of the recognized rating agencies (including Baa or better by Moody’s Investor Service, Inc. (“Moody’s”) or BBB or better by S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”) or determined by the Fund’s management team to be of similar quality. Securities rated in any of the four highest rating categories are known as “investment grade” securities. The Fund will allocate at least 10% of its assets in aggregate to Green, Social and Sustainability (“GSS”) bonds and impact mortgages. GSS bonds are bonds with proceeds that are tied to green and socially responsible projects, as determined by Fund management. Impact mortgages are securities issued or guaranteed by the U.S. government, its agencies or instrumentalities, which have characteristics that Fund management has deemed to have a positive social impact. Impact mortgages may include, but are not limited to, rural housing, manufactured housing, housing pools issued by State Housing Finance Authorities and bespoke impact mortgage-backed security pools.
To determine the Fund’s investable universe, Fund management will first seek to screen out certain issuers based on ESG criteria determined by BlackRock, subject to the considerations noted below. Such screening criteria principally includes: (i) issuers that derive more than zero percent of revenue from the production of controversial weapons; (ii) issuers that derive more than zero percent of revenue from the production of civilian firearms; (iii) issuers that derive more than zero percent of revenue from the production of tobacco-related products; (iv) issuers that derive more than five percent of revenue from thermal coal generation, unless such issuers either (a) have made certain commitments to reduce climate impact or (b) derive at least fifty percent of revenue from alternative energy sources; (v) issuers that derive more than five percent of revenue from thermal coal mining; (vi) issuers that derive more than five percent of revenue from oil sands extraction; (vii) issuers ranked in the bottom half of the applicable fossil issuers peer group by recognized third-party rating agencies; (viii) issuers with evidence of fossil fuel reserves associated with energy applications; (ix) issuers identified as violators of the United Nations Global Compact, which are globally accepted principles covering corporate behavior in the areas of human rights, labor, environment, and anti-corruption; and (x) issuers receiving an ESG rating of CCC (or equivalent) by recognized third-party rating agencies. Notwithstanding the foregoing, the Fund may invest in green bonds of issuers that exceed the thresholds stated in (iv), (v), (vi), (vii) and (viii) above. The Fund relies on one or more third-party ratings agencies to identify issuers for purposes of the above screening criteria. Third-party rating agencies may base the above screening criteria on an estimate when revenue for a covered business activity is not disclosed by the issuer or publicly available. The Fund’s screening criteria is measured at the time of investment and is dependent upon information and data that may be incomplete, inaccurate, unavailable or estimated. Where the Fund’s screening criteria looks solely to third-party ratings or data, issuers are only screened to the extent such ratings or data have been assigned or made available by the third parties. This screening criteria is subject to change over time at BlackRock’s discretion.
BlackRock utilizes a proprietary sustainability scoring system, fundamental sector research and third-party ESG data in constructing the Fund’s portfolio. Fund management also selects and weights securities based on an issuer’s ability to manage the ESG risks to which its business is exposed, as determined by BlackRock.
While Fund management considers ESG characteristics as well as climate risk exposure and climate opportunities, only one or two of these categories may be considered with respect to a particular investment or sector, and categories may be weighted differently according to the type of investment being considered. In addition, the Fund may gain indirect exposure (through, including but not limited to, derivatives and investments in other investment companies) to issuers with exposures that are inconsistent with the ESG-related criteria used by Fund management.
The Fund seeks to maintain certain ESG characteristics, climate risk exposure and climate opportunities relative to the Benchmark. Specifically, with respect to the Fund’s investments in certain sectors of fixed income instruments, the Fund generally seeks to invest in a portfolio that, in BlackRock’s view, (i) has an aggregate ESG assessment that is better than that of the Benchmark, (ii) has an aggregate carbon emissions assessment that is lower than that of the Benchmark, and (iii) in the aggregate, includes issuers that BlackRock believes are better positioned to capture climate opportunities relative to the issuers in the Benchmark. Fund management makes such assessments based on BlackRock’s ESG research, which includes due diligence of ESG risks and opportunities facing an issuer, as well as third-party ESG ratings. The Fund may invest in other sectors that are not included in such assessments.
The Fund may invest up to 30% of its net assets in securities of foreign issuers, of which 20% (as a percentage of the Fund’s net assets) may be in emerging markets issuers. Investments in U.S. dollar-denominated securities of foreign issuers, excluding issuers from emerging markets, are permitted beyond the 30% limit. This means that the Fund may invest in such U.S. dollar-denominated securities of foreign issuers without limit.
The Fund may invest in various types of mortgage-backed securities. Mortgage-backed securities represent the right to receive a portion of principal and/or interest payments made on a pool of residential or commercial mortgage loans. Mortgage-backed securities frequently react differently to changes in interest rates than other fixed-income securities. The Fund may also enter into reverse repurchase agreements and mortgage dollar rolls.
The Fund may invest in fixed-income securities of any duration or maturity. Fixed-income securities frequently have redemption features that permit an issuer to repurchase the security from the Fund at certain times prior to maturity at a specified price, which is generally the amount due at maturity. In many cases, when interest rates go down, issuers redeem fixed-income securities that allow for redemption. When an issuer redeems fixed-income securities, the Fund may receive less than the market value of the securities prior to redemption. In addition, the Fund may have to invest the proceeds in new fixed-income securities with lower yields and therefore lose expected future income.
The Fund may use derivatives, including, but not limited to, interest rate, total return and credit default swaps, options, futures, options on futures and swaps, for hedging purposes, as well as to increase the return on its portfolio investments. Derivatives are financial instruments whose value is derived from another security or an index such as the Bloomberg U.S. Aggregate Bond Index or the CSFB High Yield Index. The Fund may also invest in credit-linked notes, credit-linked trust certificates, structured notes, or other instruments evidencing interests in special purpose vehicles, trusts, or other entities that hold or represent interests in fixed-income securities.
The Fund may invest up to 20% of its net assets in fixed-income securities that are rated below investment grade by the Nationally Recognized Statistical Rating Organizations (“NRSROs”), including Moody’s, S&P or Fitch or in unrated securities of equivalent credit quality. Split rated bonds will be considered to have the higher credit rating.
The Fund may invest up to 15% of its net assets in collateralized debt obligations (“CDOs”), of which 10% (as a percentage of the Fund’s net assets) may be in collateralized loan obligations (“CLOs”). CDOs are types of asset-backed securities. CLOs are ordinarily issued by a trust or other special purpose entity and are typically collateralized by a pool of loans, which may include, among others, domestic and non-U.S. senior secured loans, senior unsecured loans, and subordinate corporate loans, including loans that may be rated below investment grade or equivalent unrated loans, held by such issuer.
The Fund may seek to provide exposure to the investment returns of real assets that trade in the commodity markets through investment in commodity-linked derivative instruments and investment vehicles that exclusively invest in precious metals, which are designed to provide this exposure without direct investment in physical commodities. The Fund may also gain exposure to commodity markets by investing up to 25% of its total assets in the Subsidiary, a wholly owned subsidiary of the Fund formed in the Cayman Islands, which invests primarily in commodity-related instruments.
Read More

BASTX - Performance

Return Ranking - Trailing

Period BASTX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -4.6% 6.7% 44.32%
1 Yr 3.3% -9.7% 12.3% 61.39%
3 Yr N/A* -10.6% 26.4% N/A
5 Yr N/A* -7.3% 191.2% N/A
10 Yr N/A* -2.6% 73.7% N/A

* Annualized

Return Ranking - Calendar

Period BASTX Return Category Return Low Category Return High Rank in Category (%)
2023 2.2% -16.2% 8.1% 45.35%
2022 -17.9% -34.7% 131.9% 88.53%
2021 N/A -11.6% 4.4% N/A
2020 N/A -10.1% 946.1% N/A
2019 N/A -1.7% 16.9% N/A

Total Return Ranking - Trailing

Period BASTX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -4.6% 6.7% 44.32%
1 Yr 3.3% -9.7% 12.3% 61.39%
3 Yr N/A* -10.6% 26.4% N/A
5 Yr N/A* -7.3% 191.2% N/A
10 Yr N/A* -2.6% 73.7% N/A

* Annualized

Total Return Ranking - Calendar

Period BASTX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% -11.3% 11.9% 53.64%
2022 -13.7% -32.2% 131.9% 52.79%
2021 N/A -9.4% 9.2% N/A
2020 N/A -1.9% 1009.0% N/A
2019 N/A 1.1% 21668.0% N/A

NAV & Total Return History

BASTX - Holdings

Concentration Analysis

BASTX Category Low Category High BASTX % Rank
Net Assets 41.7 M 2.9 M 314 B 94.47%
Number of Holdings 609 1 17816 56.39%
Net Assets in Top 10 13 M 1.7 M 34.8 B 93.76%
Weighting of Top 10 31.23% 4.4% 432.9% 32.56%

Top 10 Holdings

  1. Uniform Mortgage-Backed Securities 5.05%
  2. Government National Mortgage Association 4.57%
  3. Uniform Mortgage-Backed Securities 3.99%
  4. Uniform Mortgage-Backed Securities 3.42%
  5. Uniform Mortgage-Backed Securities 3.04%
  6. Uniform Mortgage-Backed Securities 2.36%
  7. Uniform Mortgage-Backed Securities 2.36%
  8. BlackRock Liquidity Funds, T-Fund, Institutional Class 2.21%
  9. Uniform Mortgage-Backed Securities 2.20%
  10. Uniform Mortgage-Backed Securities 2.01%

Asset Allocation

Weighting Return Low Return High BASTX % Rank
Bonds 		102.24% 0.00% 993.61% 19.30%
Other 		3.98% -16.94% 53.20% 52.37%
Cash 		2.21% -54.51% 237.69% 56.60%
Convertible Bonds 		2.04% 0.00% 7.93% 28.80%
Stocks 		0.00% 0.00% 99.99% 70.05%
Preferred Stocks 		0.00% 0.00% 74.98% 68.68%

Bond Sector Breakdown

Weighting Return Low Return High BASTX % Rank
Securitized 		36.28% 0.00% 98.40% 30.93%
Corporate 		33.96% 0.00% 100.00% 38.24%
Government 		13.54% 0.00% 86.23% 77.28%
Cash & Equivalents 		2.21% 0.00% 237.69% 52.97%
Municipal 		0.52% 0.00% 100.00% 44.83%
Derivative 		-0.01% -9.72% 47.91% 75.73%

Bond Geographic Breakdown

Weighting Return Low Return High BASTX % Rank
US 		94.36% 0.00% 993.61% 49.14%
Non US 		7.88% 0.00% 33.48% 5.64%

BASTX - Expenses

Operational Fees

BASTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.04% 0.01% 39.10% 3.44%
Management Fee 0.39% 0.00% 1.76% 56.97%
12b-1 Fee 0.25% 0.00% 1.00% 42.83%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

BASTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.00% 2.00% 5.75% 43.07%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BASTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BASTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 493.39% N/A

BASTX - Distributions

Dividend Yield Analysis

BASTX Category Low Category High BASTX % Rank
Dividend Yield 4.15% 0.00% 10.11% 50.25%

Dividend Distribution Analysis

BASTX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Quarterly

Net Income Ratio Analysis

BASTX Category Low Category High BASTX % Rank
Net Income Ratio N/A -1.28% 4.79% N/A

Capital Gain Distribution Analysis

BASTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

BASTX - Fund Manager Analysis

Managers

Rick Rieder

Start Date

Tenure

Tenure Rank

Oct 19, 2021

0.61

0.6%

Rick Rieder, Managing Director, is BlackRock's Global Chief Investment Officer of Fixed Income, and Co-head of BlackRock's Global Fixed Income platform, a member of BlackRock's Global Operating Committee and Chairman of the BlackRock firm-wide Investment Council. Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. He served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury. Mr. Rieder is currently a member of the Federal Reserve Bank of New York's Investment Advisory Committee on Financial Markets, and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013, and was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014. From 1987 to 2008, Mr. Rieder was with Lehman Brothers, most recently as head of the firm's Global Principal Strategies team, a global proprietary investment platform. He was also global head of the firm's credit businesses, Chairman of the Corporate Bond and Loan Capital Commitment Committee, and a member of the Board of Trustees for the corporate pension fund. Before joining Lehman Brothers, Mr. Rieder was a credit analyst at SunTrust Banks in Atlanta. Mr. Rieder earned a BBA degree in Finance from Emory University in 1983 and an MBA degree from The Wharton School of the University of Pennsylvania in 1987. He is a member of the board of Emory University, Emory's Business School, and the University's Investment Committee and is the Vice Chairman of the Finance Committee. Mr. Rieder is founder and chairman of the business school's BBA investment fund and community financial literacy program. Mr. Rieder serves as Chairman of the Board of North Star Academy's eleven Charter Schools in Newark, New Jersey and is the Founder and Chairman of the Board of Graduation Generation Public School Collaboration in Atlanta. He is a Trustee for the US Olympic Committee, and on the board of advisors for the Hospital for Special Surgery. He serves on the National Leadership Council of the Communities in Schools Educational Foundation and on the board of Big Brothers/Big Sisters of Newark and Essex County Mr. Rieder was honored at the Choose Success Awards ceremony in Atlanta in 2015 for his dedication to public education in Atlanta through CIS and Graduation Generation.

Bob Miller

Start Date

Tenure

Tenure Rank

Oct 19, 2021

0.61

0.6%

Bob Miller, Managing Director, is head of Americas Fundamental Fixed Income within BlackRock's Global Fixed Income group and a member of the Global Fixed Income Executive Committee. He is a portfolio manager of BlackRock's Core Bond, Total Return, and Strategic Income Opportunities Funds. Prior to joining BlackRock in 2011, Mr. Miller was a co-founder and partner at the Round Table Investment Management Company, a multi-strategy, research-based investment company, where he managed a global macro strategy. Previously, Mr. Miller spent 20 years at Bank of America, where he served in a variety

David Rogal

Start Date

Tenure

Tenure Rank

Oct 19, 2021

0.61

0.6%

Mr. Rogal began his career at BlackRock in 2006 as an analyst in the Financial Institutions Group. Mr. Rogal earned a BA degree in economics and biology from Cornell University in 2006, with concentrations in statistics and genetics. He is a member of the Phi Beta Kappa society, for which he currently serves on the alumni board of directors.

Ashley Schulten

Start Date

Tenure

Tenure Rank

Oct 19, 2021

0.61

0.6%

Managing Director of BlackRock, Inc. since 2018; Director of BlackRock, Inc. from 2012 to 2018.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.78 1.16

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