BATS SERIES A
Fund
BATAX
Price as of:
$9.44
- $0.00
- 0.00%
Primary Theme
fund company
Name
As of 07/24/2024Price
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
Vitals
YTD Return
5.1%
1 yr return
9.0%
3 Yr Avg Return
2.7%
5 Yr Avg Return
3.1%
Net Assets
$2.49 B
Holdings in Top 10
11.4%
52 WEEK LOW AND HIGH
$9.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.04%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 45.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 07/24/2024Price
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
BATAX - Profile
Distributions
- YTD Total Return 5.1%
- 3 Yr Annualized Total Return 2.7%
- 5 Yr Annualized Total Return 3.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.64%
- Dividend Yield 6.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameBATS SERIES A
-
Fund Family NameBlackRock-Advised Funds
-
Inception DateSep 21, 2015
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerSamir Lakhani
Fund Description
In pursuit of the investment objective, the Fund will principally invest in the following securities:
◼
asset-backed securities;
◼
commercial and residential mortgage-backed securities issued or guaranteed by the U.S. Government, various agencies of the U.S. Government or various instrumentalities that have been established or sponsored by the U.S. Government;
◼
commercial and residential mortgage-backed securities issued by banks and other financial institutions;
◼
collateralized mortgage obligations (“CMOs”);
◼
loans backed by commercial or residential real estate;
◼
derivatives; and
◼
repurchase agreements and reverse repurchase agreements.
Certain of the asset-backed securities and mortgage-backed securities in which the Fund may invest include securities backed by pools of subprime auto loans and subprime mortgages, respectively.
The management team evaluates sectors of the securitized asset market (i.e., asset-backed and mortgage-backed securities market) and individual securities within these sectors. The management team may, when consistent with the Fund’s investment objective, buy or sell options or futures on a security or an index of securities, or enter into swap agreements, including total return, interest rate and credit default swaps, or foreign currency transactions (collectively, commonly known as derivatives). The Fund may invest in derivatives for hedging purposes, as well as to increase the return on its portfolio investments. The Fund may also use derivatives for leverage, in which case their use would involve leveraging risk. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls, which involves a sale by the fund of a mortgage-backed or other security concurrently with an agreement by the fund to repurchase a similar security at a later date at an agreed-upon price).
The Fund may also invest in collateralized debt obligations (“CDOs”), including collateralized loan obligations.
Under normal market conditions, the Fund invests at least 25% of its total assets in mortgage-related securities, which include, but are not limited to, mortgage-backed securities issued or guaranteed by the U.S. government, its agencies or its instrumentalities or those issued by private issuers, CMOs, real estate loans, dollar rolls, stripped mortgage-backed securities and CMO residuals. The Fund’s investment in mortgage-related securities may consist entirely of privately issued securities, which are issued by commercial banks, savings and loan institutions, mortgage bankers, private mortgage insurance companies and other non-governmental issuers.
The Fund may invest in investment grade securities and non-investment grade securities (high yield or junk bonds) of any maturity. Investment grade securities acquired by the Fund will be rated investment grade by at least one major rating agency (S&P Global Ratings, a division of S&P Global Inc. (“S&P”), Fitch Ratings, Inc. (“Fitch”) or Moody’s Investors Service, Inc. (“Moody’s”)) or, if unrated, determined by the management team to be of similar quality. Non-investment grade securities acquired by the Fund will generally be in the lower rating categories of the major rating agencies (BB or lower by S&P or Fitch or Ba or lower by Moody’s) or, if unrated, determined by the management team to be of similar quality.
The Fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies.
BATAX - Performance
Return Ranking - Trailing
| Period | BATAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.1% | -0.8% | 14.1% | 2.25% |
| 1 Yr | 9.0% | 1.7% | 19.0% | 3.00% |
| 3 Yr | 2.7%* | -6.1% | 4.3% | 2.68% |
| 5 Yr | 3.1%* | -4.2% | 4.8% | 4.07% |
| 10 Yr | N/A* | -19.1% | 170.0% | N/A |
* Annualized
Return Ranking - Calendar
| Period | BATAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.3% | -1.6% | 7.6% | 38.16% |
| 2022 | -8.7% | -17.7% | -2.6% | 80.69% |
| 2021 | -0.1% | -4.0% | 4.4% | 4.74% |
| 2020 | -0.6% | -7.1% | 7.6% | 95.15% |
| 2019 | 1.8% | -2.3% | 9.3% | 56.99% |
Total Return Ranking - Trailing
| Period | BATAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.1% | -0.8% | 14.1% | 2.25% |
| 1 Yr | 9.0% | 1.7% | 19.0% | 3.00% |
| 3 Yr | 2.7%* | -6.1% | 4.3% | 2.68% |
| 5 Yr | 3.1%* | -4.2% | 4.8% | 4.07% |
| 10 Yr | N/A* | -19.1% | 170.0% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | BATAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.1% | 1.8% | 15.2% | 1.50% |
| 2022 | -4.7% | -17.3% | -1.3% | 45.70% |
| 2021 | 2.9% | -2.7% | 7.7% | 2.96% |
| 2020 | 3.3% | -2.4% | 14.5% | 79.19% |
| 2019 | 4.1% | 0.6% | 12.6% | 72.86% |
NAV & Total Return History
BATAX - Holdings
Concentration Analysis
| BATAX | Category Low | Category High | BATAX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.49 B | 14.5 K | 57.3 B | 30.71% |
| Number of Holdings | 1444 | 2 | 8691 | 10.11% |
| Net Assets in Top 10 | 283 M | 993 K | 6.33 B | 47.38% |
| Weighting of Top 10 | 11.37% | 2.1% | 103.0% | 84.08% |
Top 10 Holdings
- Dreyfus Treasury Securities Cash Management 6.69%
- AGL CLO 14 Ltd 0.64%
- Ajax Mortgage Loan Trust 2021-F 0.61%
- Barclays Mortgage Loan Trust 2023-NQM3 0.55%
- LoanCore 2022-CRE7 Issuer Ltd 0.52%
- J.P. Morgan Mortgage Trust 2021-INV7 0.51%
- Ajax Mortgage Loan Trust 2023-C 0.49%
- BX Trust 2022-GPA 0.49%
- KSL Commercial Mortgage Trust 2023-HT 0.45%
- Elmwood CLO 15 Ltd 0.42%
Asset Allocation
| Weighting | Return Low | Return High | BATAX % Rank | |
|---|---|---|---|---|
| Bonds | 75.43% | 0.00% | 131.18% | 74.16% |
| Other | 20.77% | -0.97% | 69.02% | 17.60% |
| Cash | 6.69% | -20.59% | 55.85% | 26.97% |
| Stocks | 0.00% | 0.00% | 99.97% | 30.15% |
| Preferred Stocks | 0.00% | 0.00% | 23.26% | 22.66% |
| Convertible Bonds | 0.00% | 0.00% | 27.71% | 92.87% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | BATAX % Rank | |
|---|---|---|---|---|
| Securitized | 94.50% | 0.00% | 97.27% | 0.38% |
| Cash & Equivalents | 6.69% | 0.00% | 55.85% | 24.34% |
| Corporate | 5.15% | 0.00% | 99.82% | 97.94% |
| Municipal | 0.00% | 0.00% | 17.46% | 56.29% |
| Government | 0.00% | 0.00% | 73.63% | 94.93% |
| Derivative | -0.01% | -0.33% | 28.32% | 65.73% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | BATAX % Rank | |
|---|---|---|---|---|
| US | 74.88% | 0.00% | 130.36% | 74.16% |
| Non US | 0.56% | 0.00% | 82.77% | 14.61% |
BATAX - Expenses
Operational Fees
| BATAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.04% | 0.01% | 3.24% | 98.31% |
| Management Fee | 0.00% | 0.00% | 1.19% | 0.56% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.41% | N/A |
Sales Fees
| BATAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 5.75% | N/A |
| Deferred Load | N/A | 0.50% | 4.00% | N/A |
Trading Fees
| BATAX 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.
| BATAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 45.00% | 2.00% | 500.00% | 25.85% |
BATAX - Distributions
Dividend Yield Analysis
| BATAX | Category Low | Category High | BATAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 6.27% | 0.00% | 11.11% | 1.31% |
Dividend Distribution Analysis
| BATAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| BATAX | Category Low | Category High | BATAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.64% | -1.27% | 4.98% | 3.45% |
Capital Gain Distribution Analysis
| BATAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Apr 30, 2024 | $0.050 | OrdinaryDividend |
| Mar 28, 2024 | $0.050 | OrdinaryDividend |
| Feb 29, 2024 | $0.047 | OrdinaryDividend |
| Jan 31, 2024 | $0.048 | OrdinaryDividend |
| Dec 29, 2023 | $0.049 | OrdinaryDividend |
| Dec 28, 2023 | $0.010 | OrdinaryDividend |
| Nov 30, 2023 | $0.044 | OrdinaryDividend |
| Oct 31, 2023 | $0.047 | OrdinaryDividend |
| Sep 29, 2023 | $0.050 | OrdinaryDividend |
| Aug 31, 2023 | $0.048 | OrdinaryDividend |
| Jul 31, 2023 | $0.044 | OrdinaryDividend |
| Jun 30, 2023 | $0.048 | OrdinaryDividend |
| May 31, 2023 | $0.045 | OrdinaryDividend |
| Apr 28, 2023 | $0.043 | OrdinaryDividend |
| Mar 31, 2023 | $0.044 | OrdinaryDividend |
| Feb 28, 2023 | $0.040 | OrdinaryDividend |
| Jan 31, 2023 | $0.040 | OrdinaryDividend |
| Dec 30, 2022 | $0.042 | OrdinaryDividend |
| Dec 29, 2022 | $0.014 | CapitalGainLongTerm |
| Dec 29, 2022 | $0.014 | OrdinaryDividend |
| Nov 30, 2022 | $0.041 | OrdinaryDividend |
| Oct 31, 2022 | $0.038 | OrdinaryDividend |
| Sep 30, 2022 | $0.034 | OrdinaryDividend |
| Aug 31, 2022 | $0.033 | OrdinaryDividend |
| Jul 29, 2022 | $0.030 | OrdinaryDividend |
| Jun 30, 2022 | $0.026 | OrdinaryDividend |
| May 31, 2022 | $0.026 | OrdinaryDividend |
| Apr 29, 2022 | $0.022 | OrdinaryDividend |
| Mar 31, 2022 | $0.021 | OrdinaryDividend |
| Feb 28, 2022 | $0.019 | OrdinaryDividend |
| Jan 31, 2022 | $0.022 | OrdinaryDividend |
| Dec 31, 2021 | $0.022 | OrdinaryDividend |
| Dec 30, 2021 | $0.011 | OrdinaryDividend |
| Nov 30, 2021 | $0.021 | OrdinaryDividend |
| Oct 29, 2021 | $0.022 | OrdinaryDividend |
| Sep 30, 2021 | $0.021 | OrdinaryDividend |
| Aug 31, 2021 | $0.020 | OrdinaryDividend |
| Jul 30, 2021 | $0.021 | OrdinaryDividend |
| Jun 30, 2021 | $0.021 | OrdinaryDividend |
| May 28, 2021 | $0.023 | OrdinaryDividend |
| Apr 30, 2021 | $0.022 | OrdinaryDividend |
| Mar 31, 2021 | $0.023 | OrdinaryDividend |
| Feb 26, 2021 | $0.023 | OrdinaryDividend |
| Jan 29, 2021 | $0.023 | OrdinaryDividend |
| Dec 31, 2020 | $0.024 | OrdinaryDividend |
| Dec 30, 2020 | $0.002 | OrdinaryDividend |
| Nov 30, 2020 | $0.021 | OrdinaryDividend |
| Oct 30, 2020 | $0.023 | OrdinaryDividend |
| Sep 30, 2020 | $0.026 | OrdinaryDividend |
| Aug 31, 2020 | $0.027 | OrdinaryDividend |
| Jul 31, 2020 | $0.029 | OrdinaryDividend |
| Jun 30, 2020 | $0.029 | OrdinaryDividend |
| May 29, 2020 | $0.031 | OrdinaryDividend |
| Apr 30, 2020 | $0.031 | OrdinaryDividend |
| Mar 31, 2020 | $0.034 | OrdinaryDividend |
| Feb 28, 2020 | $0.033 | OrdinaryDividend |
| Jan 31, 2020 | $0.036 | OrdinaryDividend |
| Dec 31, 2019 | $0.036 | OrdinaryDividend |
| Nov 29, 2019 | $0.035 | OrdinaryDividend |
| Oct 31, 2019 | $0.037 | OrdinaryDividend |
| Sep 30, 2019 | $0.038 | OrdinaryDividend |
| Aug 30, 2019 | $0.039 | OrdinaryDividend |
| Jul 31, 2019 | $0.040 | OrdinaryDividend |
| Dec 28, 2018 | $0.044 | CapitalGainShortTerm |
| Dec 28, 2018 | $0.009 | CapitalGainLongTerm |
| Dec 28, 2017 | $0.057 | CapitalGainShortTerm |
| Dec 28, 2017 | $0.002 | CapitalGainLongTerm |
| Dec 21, 2016 | $0.040 | CapitalGainShortTerm |
| Dec 22, 2015 | $0.041 | CapitalGainShortTerm |
BATAX - Fund Manager Analysis
Managers
Samir Lakhani
Start Date
Tenure
Tenure Rank
Sep 21, 2015
6.7
6.7%
Managing Director of BlackRock, Inc. since 2014; Director of BlackRock, Inc. from 2010 to 2013
Ibrahim Incoglu
Start Date
Tenure
Tenure Rank
Feb 10, 2016
6.31
6.3%
Mr. Ibrahim Incoglu is Managing Director of BlackRock, Inc. since 2015 and Director of BlackRock, Inc. from 2009 to 2014. Mr. Incoglu, a Managing Director of BlackRock, is part of the Securitized Assets Investment team and a member of Americas Fixed Income within the Alpha Strategies Group. Mr. Incoglu is a Senior Portfolio Manager and Trader on the Non-Agency desk. His responsibilities include managing Prime, Alt-a, Option Arm and Subprime positions across numerous BlackRock portfolios. Prior to joining BlackRock in 2009, Mr. Incoglu spent more than six years on the sell side at Wachovia Securities, most recently as a Director. He was responsible for managing the synthetic ABS desk, market making and hedging activities. Prior to launching synthetic desk in 2006, Mr. Incoglu was a Senior Trader at Wachovia and traded / made markets on Alt-a, Sub-prime and 2nd liens/ HELOC's (Home Equity Line of Credit). From 2002 to 2003, Mr. Incoglu was an Associate at Bank of America Securities, where he structured up Non-Agency deals, and ran arbitrage to buy and securitize mortgage whole loans. Mr. Incoglu began his career at Ocwen Federal Bank in 2000. He focused on trading of IO's, servicing strips, as well as hedging activities of the derivatives. Mr. Incoglu earned a BS degree in civil engineering from Bogazici University in 1998, and an MBA degree in business administration from the University of Tulsa in 1999.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.07 | 28.77 | 6.16 | 2.41 |