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Name

As of 01/26/2026

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 Securitized Income Fund

MSUMX | Fund

$9.08

$453 M

5.16%

$0.47

0.55%

Vitals

YTD Return

0.4%

1 yr return

8.3%

3 Yr Avg Return

6.0%

5 Yr Avg Return

1.6%

Net Assets

$453 M

Holdings in Top 10

19.9%

52 WEEK LOW AND HIGH

$9.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.55%

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 01/26/2026

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 Securitized Income Fund

MSUMX | Fund

$9.08

$453 M

5.16%

$0.47

0.55%

MSUMX - Profile

Distributions

  • YTD Total Return 0.4%
  • 3 Yr Annualized Total Return 6.0%
  • 5 Yr Annualized Total Return 1.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.65%
DIVIDENDS
  • Dividend Yield 5.2%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    BlackRock Securitized Income Fund
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Sep 17, 2018
  • Shares Outstanding
    23275765
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Matthew Kraeger

Fund Description

Under normal circumstances, at least 80% of the Fund’s net assets, plus any borrowings for investment purposes, will be invested in securitized assets and derivatives that provide investment exposure to such securities or to one or more market risk factors associated with such assets. For purposes of the Fund’s 80% policy, “securitized assets” include instruments such as 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, including to-be-announced (“TBA”) securities; commercial and residential mortgage-backed securities issued by banks and other financial institutions; collateralized loan obligations (“CLOs”); collateralized mortgage obligations (“CMOs”); and loans backed by consumer receivables and commercial or residential real estate. The Fund may also invest in repurchase agreements and reverse repurchase agreements.
The Fund will concentrate its investments (i.e., invest at least 25% of its total assets) in non-agency mortgage-backed securities and may invest in other non-agency securities issued by banks and other financial institutions. Non-agency securities are not backed by the full faith and credit of the United States and do not involve sponsorship or guarantees by government agencies or enterprises. The non-agency mortgage-backed securities in which the Fund will invest may be rated below investment grade (commonly known as “junk bonds”), including distressed securities or securities determined by Fund management to be of similar quality. For purposes of determining a bond’s credit rating, split rated bonds will be considered to have the higher credit rating.
The Fund may participate in TBA transactions and enter into dollar rolls. A TBA transaction is a method of trading mortgage-backed securities where the buyer and seller agree upon general trade parameters such as agency, settlement date, par amount and price at the time the contract is entered into, but the mortgage-backed securities are delivered in the future, generally 30 days later. The actual pools of mortgage-backed securities delivered in a TBA transaction typically are not determined until two days prior to settlement date. A dollar roll transaction 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 securities that are repurchased will bear the same interest rate and stated maturity as those sold, but pools of mortgages collateralizing those securities may have different prepayment histories than those sold.
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 Investment 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 use derivatives, including options, futures, swaps and forward foreign exchange transactions, both to seek to increase the return of the Fund and to hedge (or protect) the value of its assets against adverse movements in interest rates and movements in the securities markets. In order to manage cash flows into or out of the Fund effectively, the Fund may buy and sell financial futures contracts or options on such contracts. Derivatives are financial instruments whose value is derived from another security, a currency or an index. The Fund may also invest in indexed and inverse securities.
The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
Read More

MSUMX - Performance

Return Ranking - Trailing

Period MSUMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -1.7% 5.5% 62.28%
1 Yr 8.3% -9.4% 21.4% 22.66%
3 Yr 6.0%* -4.8% 15.0% 66.09%
5 Yr 1.6%* -8.6% 12.8% 81.54%
10 Yr N/A* 0.1% 12.0% 73.08%

* Annualized

Return Ranking - Calendar

Period MSUMX Return Category Return Low Category Return High Rank in Category (%)
2025 2.3% -21.9% 12.9% 42.47%
2024 -0.1% -17.6% 5.4% 59.75%
2023 1.3% -12.0% 8.9% 70.68%
2022 -16.3% -31.8% 18.4% 77.56%
2021 0.2% -16.2% 25.7% 21.72%

Total Return Ranking - Trailing

Period MSUMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -1.7% 5.5% 62.28%
1 Yr 8.3% -9.4% 21.4% 22.66%
3 Yr 6.0%* -4.8% 15.0% 66.09%
5 Yr 1.6%* -8.6% 12.8% 81.54%
10 Yr N/A* 0.1% 12.0% 70.88%

* Annualized

Total Return Ranking - Calendar

Period MSUMX Return Category Return Low Category Return High Rank in Category (%)
2025 9.2% -9.2% 20.9% 24.56%
2024 6.6% -11.7% 18.6% 47.39%
2023 6.7% -6.5% 22.2% 74.80%
2022 -13.3% -23.0% 21.1% 89.76%
2021 2.8% -7.8% 49.9% 41.25%

NAV & Total Return History

MSUMX - Holdings

Concentration Analysis

MSUMX Category Low Category High MSUMX % Rank
Net Assets 453 M 3.09 M 188 B 62.15%
Number of Holdings 862 4 9967 35.04%
Net Assets in Top 10 90.1 M -204 M 132 B 66.56%
Weighting of Top 10 19.86% 6.2% 130.5% 65.00%

Top 10 Holdings

  1. Dreyfus Treasury Securities Cash Management 4.29%
  2. Uniform Mortgage-Backed Securities 4.28%
  3. U.S. Treasury Bills 4.25%
  4. Uniform Mortgage-Backed Securities 2.16%
  5. Uniform Mortgage-Backed Securities 0.99%
  6. Wells Fargo Commercial Mortgage Trust, Series 2025-1918, Class A 0.89%
  7. Government National Mortgage Association, Series 2022-88, Class IA 0.86%
  8. CIP Commercial Mortgage Trust, Series 2025-SBAY, Class A 0.81%
  9. Government National Mortgage Association, Series 2021-97, Class LI 0.68%
  10. Madison Park Funding LXV Ltd., Series 2025-65A, Class A1 0.66%

Asset Allocation

Weighting Return Low Return High MSUMX % Rank
Bonds 		85.25% 0.00% 206.77% 60.00%
Other 		15.31% -35.67% 100.00% 18.56%
Cash 		8.54% -94.66% 99.96% 18.88%
Stocks 		0.00% -13.39% 100.27% 82.24%
Preferred Stocks 		0.00% 0.00% 14.17% 62.88%
Convertible Bonds 		0.00% 0.00% 33.50% 88.16%

Bond Sector Breakdown

Weighting Return Low Return High MSUMX % Rank
Securitized 		57.78% 0.00% 99.65% 12.73%
Cash & Equivalents 		8.54% -0.17% 99.96% 19.90%
Corporate 		0.73% 0.00% 96.66% 90.91%
Government 		0.22% 0.00% 99.43% 84.30%
Municipal 		0.00% 0.00% 54.26% 58.51%
Derivative 		-0.01% -23.76% 11.34% 68.38%

Bond Geographic Breakdown

Weighting Return Low Return High MSUMX % Rank
US 		85.25% 0.00% 206.77% 41.28%
Non US 		0.00% 0.00% 67.48% 77.44%

MSUMX - Expenses

Operational Fees

MSUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.55% 0.14% 9.86% 93.62%
Management Fee 0.40% 0.00% 2.29% 10.16%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

MSUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 1.50% N/A

Trading Fees

MSUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

MSUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 632.00% 98.81%

MSUMX - Distributions

Dividend Yield Analysis

MSUMX Category Low Category High MSUMX % Rank
Dividend Yield 5.16% 0.00% 23.30% 41.36%

Dividend Distribution Analysis

MSUMX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Monthly Monthly

Net Income Ratio Analysis

MSUMX Category Low Category High MSUMX % Rank
Net Income Ratio 2.65% -1.55% 11.51% 61.30%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MSUMX - Fund Manager Analysis

Managers

Matthew Kraeger

Start Date

Tenure

Tenure Rank

Aug 28, 2009

12.76

12.8%

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.

Siddharth Mehta

Start Date

Tenure

Tenure Rank

Aug 26, 2016

5.76

5.8%

Siddharth Mehta, Director of BlackRock, Inc. since 2017; Vice President of BlackRock, Inc. from 2011 to 2016.Vice President, is a member of the Mortgage Portfolio Team within BlackRock's Americas Fixed Income Alpha Strategies. Mr. Mehta joined the Portfolio Management Group in 2008.From 2006 to 2008, Mr. Mehta was a member of BlackRock's Risk and Quantitative Analytics Group, where he was responsible for supporting the mortgage team. Mr. Mehta began his investment career with BlackRock as an analyst in the Portfolio Analytics Group. Mr. Mehta earned a BS degree, magna cum laude, in electrical engineering from the University of Michigan in 2005.

Ibrahim Incoglu

Start Date

Tenure

Tenure Rank

Dec 17, 2019

2.45

2.5%

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.

Samir Lakhani

Start Date

Tenure

Tenure Rank

Dec 17, 2019

2.45

2.5%

Managing Director of BlackRock, Inc. since 2014; Director of BlackRock, Inc. from 2010 to 2013

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.66 3.19

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