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Trending ETFs

Name

As of 06/11/2024

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

$8.50

$42.4 M

4.43%

$0.38

1.06%

Vitals

YTD Return

-0.5%

1 yr return

3.5%

3 Yr Avg Return

-3.4%

5 Yr Avg Return

-0.2%

Net Assets

$42.4 M

Holdings in Top 10

21.0%

52 WEEK LOW AND HIGH

$8.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.06%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/11/2024

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

$8.50

$42.4 M

4.43%

$0.38

1.06%

BIIIX - Profile

Distributions

  • YTD Total Return -0.5%
  • 3 Yr Annualized Total Return -3.4%
  • 5 Yr Annualized Total Return -0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.62%
DIVIDENDS
  • Dividend Yield 4.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BlackRock Sustainable Advantage CoreAlpha Bond Fund
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Aug 23, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joel Silva

Fund Description

The Fund seeks to provide a combination of income and capital growth by investing in a portfolio of debt securities, using model-based asset allocation and security selection models.
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 identified 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 (viii) issuers receiving an ESG rating of B or below (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) and (vi) above. The Fund relies on 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 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.
Fund management, relying on BlackRock’s Systematic Fixed Income Research, then selects securities for the Fund by using a systematic method that relies on proprietary quantitative models to allocate the Fund’s assets among (i) various bond sectors by evaluating each sector’s relative value and risk-adjusted return and (ii) bonds of different maturities based on yield characteristics and expectations. Specific investment selection decisions are made on the basis of evaluations of relative value, credit quality, transaction costs and other factors.
In conjunction with this systematic method and to the extent applicable to a particular sector, Fund management 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. BlackRock researches and develops investment insights related to economic transition, which target carbon transition readiness and climate opportunities.
The Fund seeks to maintain certain ESG characteristics, climate risk exposure and climate opportunities relative to the Bloomberg U.S. Aggregate Bond Index (the “Benchmark”). Specifically, the Fund generally seeks to invest in fixed income instruments that, with respect to certain sectors, in BlackRock’s view, (i) have an ESG assessment that is better than the ESG assessment of such sectors within the Benchmark, (ii) have an aggregate carbon emissions assessment that is lower than that of such sectors within 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 the ESG risks and opportunities facing an issuer, as well as third-party ESG ratings. Such sectors and issuers may not comprise the majority of the Fund’s portfolio.
The Fund invests, under normal circumstances, 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, its agencies or instrumentalities; mortgage-backed securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities, including U.S. agency mortgage pass-through securities; commercial mortgage-backed securities; mortgage to-be-announced (“TBA”) securities; debt obligations of U.S. issuers, including corporate bonds and green bonds (which are bonds with proceeds that are used to fund eligible projects with specific environmental benefits); municipal securities; asset-backed securities; and U.S.-registered dollar-denominated debt obligations of foreign issuers. The Fund may invest in bonds issued by companies located in countries other than the United States, including companies in emerging markets. These securities may have all types of interest rate payment and reset terms, including fixed rate, adjustable rate, floating rate, zero coupon, contingent, deferred, payment in kind and auction rate features. The Fund seeks to invest a substantial portion of its assets in U.S.-registered, dollar-denominated bonds. The Fund may invest up to 10% of its assets in securities rated below investment grade (“high yield” or “junk” bonds). The Fund may invest in bonds of any maturity or duration.
The Fund may invest a significant portion of its assets in U.S. agency mortgage pass-through securities, which are securities issued by entities such as the Government National Mortgage Association (“GNMA”) and the Federal National Mortgage Association that are backed by pools of mortgages. Most transactions in mortgage pass-through securities occur through standardized contracts for future delivery in which the exact mortgage-backed securities to be
delivered are not specified until a few days prior to settlement. The Fund expects to enter into such contracts on a regular basis. When assessing the Fund’s investments in the mortgage sector against the Benchmark, the Fund currently considers GNMA securities to have a positive ESG assessment, and currently considers most other types of mortgage-backed securities to be neutral from an ESG perspective. The Fund may also seek to gain exposure to mortgage or government-backed securities that fund societal opportunity projects or environmental development, among other ESG related issues.
The Fund may use derivatives, such as futures contracts, options, swaps and various other instruments. The Fund may also invest in derivatives based on foreign currencies. In addition, the Fund may use derivatives and short sales to enhance returns as part of an overall investment strategy or to offset a potential decline in the value of other holdings (commonly referred to as a “hedge”), although the Fund is not required to hedge and may choose not to do so.
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BIIIX - Performance

Return Ranking - Trailing

Period BIIIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -7.1% 4.9% 66.23%
1 Yr 3.5% -6.7% 12.5% 51.21%
3 Yr -3.4%* -10.9% 26.1% 67.02%
5 Yr -0.2%* -7.2% 190.8% 65.33%
10 Yr N/A* -2.6% 73.5% N/A

* Annualized

Return Ranking - Calendar

Period BIIIX Return Category Return Low Category Return High Rank in Category (%)
2023 2.0% -16.2% 8.1% 56.26%
2022 -15.8% -34.7% 131.9% 43.08%
2021 -4.4% -11.6% 4.4% 87.16%
2020 5.8% -10.1% 946.1% 18.62%
2019 6.4% -1.7% 16.9% 23.58%

Total Return Ranking - Trailing

Period BIIIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -7.1% 4.9% 66.23%
1 Yr 3.5% -6.7% 12.5% 51.21%
3 Yr -3.4%* -10.9% 26.1% 67.02%
5 Yr -0.2%* -7.2% 190.8% 65.33%
10 Yr N/A* -2.6% 73.5% N/A

* Annualized

Total Return Ranking - Calendar

Period BIIIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.3% -11.3% 11.0% 38.89%
2022 -13.9% -32.2% 131.9% 58.06%
2021 -2.2% -9.4% 9.2% 90.61%
2020 9.0% -1.9% 1009.0% 32.66%
2019 9.4% 1.1% 21668.0% 34.84%

NAV & Total Return History


BIIIX - Holdings

Concentration Analysis

BIIIX Category Low Category High BIIIX % Rank
Net Assets 42.4 M 2.9 M 314 B 93.87%
Number of Holdings 1483 1 17816 28.30%
Net Assets in Top 10 8.92 M 1.57 M 34.8 B 96.68%
Weighting of Top 10 21.02% 4.4% 132.5% 62.49%

Top 10 Holdings

  1. U.S. Treasury Notes 4.52%
  2. United States Treasury Bill 2.57%
  3. U.S. Treasury Notes 2.10%
  4. United States Treasury Bill 2.09%
  5. U.S. Treasury Notes 2.00%
  6. Ginnie Mae 1.96%
  7. U.S. Treasury Notes 1.86%
  8. U.S. Treasury Bonds 1.62%
  9. BlackRock Liquidity Funds: T-Fund, Institutional Shares 1.15%
  10. U.S. Treasury Notes 1.15%

Asset Allocation

Weighting Return Low Return High BIIIX % Rank
Bonds
94.84% 0.00% 211.59% 52.76%
Other
6.68% -16.94% 53.20% 35.15%
Convertible Bonds
3.22% 0.00% 7.93% 7.40%
Cash
1.15% -54.51% 87.74% 73.51%
Stocks
0.00% 0.00% 99.99% 97.89%
Preferred Stocks
0.00% 0.00% 74.98% 97.48%

Bond Sector Breakdown

Weighting Return Low Return High BIIIX % Rank
Corporate
37.49% 0.00% 100.00% 29.01%
Securitized
27.04% 0.00% 98.40% 58.22%
Government
9.75% 0.00% 86.23% 85.90%
Cash & Equivalents
1.15% 0.00% 83.04% 67.88%
Municipal
0.45% 0.00% 100.00% 47.77%
Derivative
-0.46% -9.72% 50.66% 96.07%

Bond Geographic Breakdown

Weighting Return Low Return High BIIIX % Rank
US
94.84% 0.00% 211.59% 47.63%
Non US
0.00% 0.00% 33.48% 97.68%

BIIIX - Expenses

Operational Fees

BIIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.06% 0.01% 39.10% 24.19%
Management Fee 0.23% 0.00% 1.76% 12.82%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.06% 0.01% 0.50% 35.77%

Sales Fees

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

Trading Fees

BIIIX 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.

BIIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 493.39% 82.24%

BIIIX - Distributions

Dividend Yield Analysis

BIIIX Category Low Category High BIIIX % Rank
Dividend Yield 4.43% 0.00% 10.11% 51.16%

Dividend Distribution Analysis

BIIIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

BIIIX Category Low Category High BIIIX % Rank
Net Income Ratio 1.62% -1.28% 4.79% 55.25%

Capital Gain Distribution Analysis

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

Distributions History

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BIIIX - Fund Manager Analysis

Managers

Joel Silva


Start Date

Tenure

Tenure Rank

Aug 23, 2016

5.77

5.8%

Silva has been employed by BGFA and BGI as a Portfolio Manager since July 2007. Prior to becoming a Portfolio Manager, he was employed as a Managing Director for Stone & Youngberg LLC where he traded and underwrote municipal securities from 2002 to 2007.

Scott Radell


Start Date

Tenure

Tenure Rank

Aug 23, 2016

5.77

5.8%

Scott Radell has been employed as managing director and portfolio manager with BlackRock Investment Management LLC and BlackRock Financial Advisers (formerly, Barclays Global Fund Advisors) and its predecessors since 2009. Mr. Radell served as a portfolio manager at Barclays Global Fund Advisors and its affiliates since 2004. Radell was a credit strategist from 2003 to 2004 before becoming a CoreAlpha Bond Portfolio Manager and prior to that he was employed by Morgan Stanley Asset Management as a credit analyst from 1996 to 2003.

Jasmita Mohan


Start Date

Tenure

Tenure Rank

Mar 10, 2022

0.22

0.2%

Director of BlackRock, Inc. since 2019; Portfolio Manager within BlackRock’s Systematic Fixed Income Portfolio Management Group since 2014.

Tenure Analysis

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