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Trending ETFs

Name

As of 06/21/2024

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

BATS SERIES M

BRAMX | Fund

$8.30

$1.17 B

4.28%

$0.36

0.06%

Vitals

YTD Return

0.5%

1 yr return

3.6%

3 Yr Avg Return

-2.3%

5 Yr Avg Return

-0.1%

Net Assets

$1.17 B

Holdings in Top 10

22.7%

52 WEEK LOW AND HIGH

$8.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.06%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/21/2024

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

BATS SERIES M

BRAMX | Fund

$8.30

$1.17 B

4.28%

$0.36

0.06%

BRAMX - Profile

Distributions

  • YTD Total Return 0.5%
  • 3 Yr Annualized Total Return -2.3%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.11%
DIVIDENDS
  • Dividend Yield 4.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BATS SERIES M
  • Fund Family Name
    BlackRock-Advised Funds
  • Inception Date
    Nov 04, 2004
  • Shares Outstanding
    N/A
  • Share Class
    M
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Akiva Dickstein

Fund Description

In pursuit of the investment objective, the Fund will principally invest in the following securities:
commercial and residential mortgage-backed securities;
asset-backed securities;
collateralized mortgage obligations;
U.S. Treasury and agency securities;
cash equivalent investments;
when-issued and delayed delivery securities;
derivatives; and
dollar rolls.
Under normal circumstances, the Fund invests at least 80% of its total assets in fixed-income instruments. This 80% policy is a non-fundamental policy of the Fund and may not be changed without 60 days’ prior notice to shareholders.
The management team evaluates sectors of the bond 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 interest rate or foreign currency transactions, including swaps (collectively, commonly known as derivatives).
The Fund may only buy securities that are rated investment grade at the time of purchase by at least one major rating agency or, if unrated, determined by the management team to be of similar quality.
The Fund may engage in active and frequent trading of portfolio instruments to achieve its investment objective.
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BRAMX - Performance

Return Ranking - Trailing

Period BRAMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -0.8% 12.9% 95.52%
1 Yr 3.6% 1.3% 22.8% 91.03%
3 Yr -2.3%* -6.0% 4.4% 99.62%
5 Yr -0.1%* -4.1% 4.7% 97.95%
10 Yr -0.2%* -19.2% 169.9% 99.41%

* Annualized

Return Ranking - Calendar

Period BRAMX Return Category Return Low Category Return High Rank in Category (%)
2023 1.7% -1.6% 7.6% 56.37%
2022 -14.2% -17.7% -2.6% 98.86%
2021 -2.8% -4.0% 4.4% 94.29%
2020 1.7% -7.1% 7.6% 49.90%
2019 3.4% -2.3% 9.3% 12.47%

Total Return Ranking - Trailing

Period BRAMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -0.8% 12.9% 95.52%
1 Yr 3.6% 1.3% 22.8% 91.03%
3 Yr -2.3%* -6.0% 4.4% 99.62%
5 Yr -0.1%* -4.1% 4.7% 97.95%
10 Yr -0.2%* -19.2% 169.9% 99.41%

* Annualized

Total Return Ranking - Calendar

Period BRAMX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% 1.8% 15.2% 38.95%
2022 -11.8% -17.3% -1.3% 99.24%
2021 -0.5% -2.7% 7.7% 66.93%
2020 5.2% -2.4% 14.5% 24.95%
2019 5.1% 0.6% 12.6% 34.51%

NAV & Total Return History


BRAMX - Holdings

Concentration Analysis

BRAMX Category Low Category High BRAMX % Rank
Net Assets 1.17 B 14.5 K 57.3 B 52.24%
Number of Holdings 1141 2 9251 13.99%
Net Assets in Top 10 260 M 993 K 6.33 B 48.13%
Weighting of Top 10 22.70% 2.1% 103.0% 56.53%

Top 10 Holdings

  1. Fannie Mae or Freddie Mac 4.92%
  2. Freddie Mac Pool 2.44%
  3. United States Treasury Bill 2.38%
  4. Fannie Mae or Freddie Mac 2.31%
  5. Ginnie Mae 2.04%
  6. Freddie Mac Pool 1.88%
  7. Fannie Mae or Freddie Mac 1.82%
  8. Fannie Mae or Freddie Mac 1.71%
  9. Ginnie Mae II Pool 1.61%
  10. Freddie Mac Pool 1.60%

Asset Allocation

Weighting Return Low Return High BRAMX % Rank
Bonds
107.08% 0.00% 131.18% 2.24%
Other
1.66% -0.97% 69.02% 67.72%
Cash
0.62% -20.59% 55.85% 78.36%
Stocks
0.00% 0.00% 99.97% 35.07%
Preferred Stocks
0.00% 0.00% 22.27% 30.22%
Convertible Bonds
0.00% 0.00% 27.71% 93.27%

Bond Sector Breakdown

Weighting Return Low Return High BRAMX % Rank
Securitized
52.22% 0.00% 97.27% 8.04%
Government
3.36% 0.00% 73.63% 84.86%
Cash & Equivalents
0.62% 0.00% 55.85% 68.66%
Corporate
0.33% 0.00% 100.00% 98.88%
Municipal
0.00% 0.00% 17.46% 60.56%
Derivative
-0.02% -0.33% 28.01% 70.15%

Bond Geographic Breakdown

Weighting Return Low Return High BRAMX % Rank
US
107.08% 0.00% 130.36% 2.05%
Non US
0.00% 0.00% 82.77% 29.48%

BRAMX - Expenses

Operational Fees

BRAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.06% 0.01% 3.24% 97.00%
Management Fee 0.00% 0.00% 1.19% 1.12%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.41% 1.38%

Sales Fees

BRAMX 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

BRAMX 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.

BRAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 500.00% 100.00%

BRAMX - Distributions

Dividend Yield Analysis

BRAMX Category Low Category High BRAMX % Rank
Dividend Yield 4.28% 0.00% 11.11% 41.23%

Dividend Distribution Analysis

BRAMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

BRAMX Category Low Category High BRAMX % Rank
Net Income Ratio 1.11% -1.27% 4.98% 53.24%

Capital Gain Distribution Analysis

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

Distributions History

View More +

BRAMX - Fund Manager Analysis

Managers

Akiva Dickstein


Start Date

Tenure

Tenure Rank

Feb 22, 2012

10.28

10.3%

Akiva Dickstein, Managing Director, is Head of Customized Core Portfolios within BlackRock's Americas Fixed Income Alpha Strategies and a member of the Americas Fixed Income Executive Team. Mr. Dickstein has been the lead portfolio manager on BlackRock's mortgage portfolios since joining BlackRock in 2009. Prior to that, Mr. Dickstein spent eight years at Merrill Lynch, where he served as Managing Director and head of the U.S. Rates & Structured Credit Research Group. He was responsible for the team that produced MBS, ABS, CMBS, Treasuries, swaps, and interest rate derivatives research. Mr. Dickstein's publications on MBS strategy included the weekly Mortgage Investor as well as numerous lengthier articles on topics such as optimal loan modifications, the valuation of credit-sensitive MBS and ABS, and the pricing of mortgage derivatives, options, and pass-throughs. In addition, he developed Merrill's prepayment models for fixed rate and hybrid MBS. From 1993 to 2001, Mr. Dickstein was with Lehman Brothers, most recently as a Senior Vice President in Mortgage Derivatives Trading. In this role, he traded mortgage derivatives and developed Lehman's credit default model. He joined Lehman as a mortgage and asset-backed securities analyst and was named to Institutional Investor's All American Fixed Income Research Team in pass-throughs, non-agency mortgages, and asset-backed securities. Mr. Dickstein earned a BA degree in economics, summa cum laude, from Yale University in 1990, and an MA degree in physics from Princeton University in 1993.

Matthew Kraeger


Start Date

Tenure

Tenure Rank

Feb 22, 2012

10.28

10.3%

Managing Director of BlackRock, Inc. since 2015; Director of BlackRock, Inc. from 2009 to 2014; Vice President of BlackRock, Inc. from 2006 to 2008; Associate of BlackRock, Inc. from 2002 to 2005.

Michael Heilbronn


Start Date

Tenure

Tenure Rank

Jul 29, 2015

6.84

6.8%

Michael Heilbronn, Director, is a member of the Core PM SMA Team in Princeton for BlackRock's Managed Account business within Multi-Asset Strategies (MAS). In this capacity, he is responsible for managing mid-sized institutional taxable bond portfolios. Additionally, Mr. Heilbronn is part of a liaison team that coordinates the SMA fixed income portfolio strategy and credit research with the rest of the firm. He works closely with each group to facilitate idea sharing and trade ideas across portfolios. Mr. Heilbronn's service with the firm dates back to 1998, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, he was a product specialist for the firm's entire range of fixed income portfolios, and also served as an associate asset management advisor. Mr. Heilbronn joined MLIM in 2000, after working with the mutual funds marketing team at the Merrill Lynch Private Client Group for two years. Mr. Heilbronn earned a BS degree from the Pennsylvania State University in 1998.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.16 2.41