Fixed Income

BASIX

Strategic Income Opportunities Fund

  • NAV as of Nov 22, 2024 $9.50
    52 WK: 9.12 - 9.66
  • 1 Day NAV Change as of Nov 22, 2024 0.01 (0.11%)
  • NAV Total Return as of Nov 22, 2024 YTD: 4.86%

Overview

About this Fund

1. Flexible, core bond complement
2. Diversified across markets and strategies
3. Seeks total return that is consistent with preservation of capital

Investment Approach

The BlackRock Strategic Income Opportunities Fund is a flexible bond strategy that seeks to offer investors attractive income, returns and meaningful portfolio diversification.

For more information read our monthly commentary
Loading

Performance

Performance

  1y 3y 5y 10y
Total Return (%) 11.47 2.00 3.06 2.79
Return w/ Sales Charge (%) 7.01 0.62 2.22 2.37
Morningstar Category Avg. (%) 10.01 1.88 2.51 2.48
Morningstar Ranking 100/289 128/272 87/246 65/171
Morningstar Quartile 2 3 2 2
Lipper Category Avg. (%) 11.06 1.57 2.30 2.21
Lipper Ranking 42/89 44/86 39/82 17/59
Lipper Quartile 2 3 2 2
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 5.72 1.21 4.17 11.47 6.11 16.27 31.73
Return w/ Sales Charge (%) 1.49 -2.84 0.01 7.01 1.87 11.62 26.46
Morningstar Category Avg. (%) 5.44 -0.47 1.30 10.01 6.24 13.97 29.12
Lipper Category Avg. (%) 5.78 0.93 3.66 11.06 4.96 12.48 25.11
  2019 2020 2021 2022 2023
Total Return (%) 7.42 6.90 0.67 -5.91 7.00
Annual w/ Sales Charge (%) 3.13 2.62 -3.36 -9.67 2.72
Morningstar Category Avg. (%) 6.69 3.44 1.80 -6.27 6.95

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

The Fund’s returns prior to September 17, 2018 are the returns of a predecessor fund that reorganized into the Fund on September 17, 2018. The predecessor fund had the same investment objectives, strategies and policies, portfolio management team and contractual arrangements, including the same contractual fees and expenses, as the Fund as of the date of the reorganization. As a result, the performance of the Fund would have been substantially similar to that of the predecessor fund.
Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Nov 22, 2024
$39,585.9 M
Share Class launch date
Feb 05, 2008
Distribution Frequency
Monthly
Lipper Classification
Alt Credit Focus Funds
Max Offer Price
as of Nov 22, 2024
$9.90
Turnover Percent in the Annual Report
as of Dec 31, 2023
1,005.00%
Size of Class (Millions)
as of Nov 22, 2024
$899.9 M
Asset Class
Fixed Income
Morningstar Category
Nontraditional Bond
CUSIP
09260B416
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Oct 31, 2024
5,936
Alpha (3y)
as of Oct 31, 2024
0.21
R-Squared (3y)
as of Oct 31, 2024
87.14
Beta (3y)
as of Oct 31, 2024
0.55
Unsubsidized 30-Day SEC Yield
as of Oct 31, 2024
4.61%
Effective Duration
as of Oct 31, 2024
3.72 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
6.12%
30 Day SEC Yield
as of Oct 31, 2024
4.61%
Yield to Maturity
as of Oct 31, 2024
5.98%
Fund Standard Deviation (3y)
as of Oct 31, 2024
4.47
Average Coupon
as of Oct 31, 2024
5.15%
Yield to Worst
as of Oct 31, 2024
5.81%
Weighted Average Life
as of Oct 31, 2024
6.08 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2022
-3.53%

For the latest month-end Distribution Yield, click here.


This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons
as of Oct 31, 2024
0.11%
MSCI - Nuclear Weapons
as of Oct 31, 2024
0.11%
MSCI - Civilian Firearms
as of Oct 31, 2024
0.00%
MSCI - Tobacco
as of Oct 31, 2024
0.01%
MSCI - UN Global Compact Violators
as of Oct 31, 2024
0.17%
MSCI - Thermal Coal
as of Oct 31, 2024
0.06%
MSCI - Oil Sands
as of Oct 31, 2024
0.00%
Business Involvement Coverage
as of Oct 31, 2024
19.76%
Percentage of Fund not covered
as of Oct 31, 2024
80.22%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.18% and for Oil Sands 0.30%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.00%
Net Expense Ratio 0.99%

Net Expense Ratio excluding Investment Related Expenses is 0.86%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.12%

There is an additional management fee waiver of 0.01% related to certain affiliated investments.

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - GOLD
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Feb 13, 2024)
Analyst-Driven % as of Feb 13, 2024
100.00
Data Coverage % as of Feb 13, 2024
100.00

Lipper Leader

 
 
 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Oct 31, 2024 out of 80, 6,105, 81, 23 and 81 Funds, respectively in Lipper's Alt Credit Focus Funds classification.

Holdings

Holdings

as of Sep 30, 2024
Name Weight (%)
UNIFORM MBS 18.19
SPAIN (KINGDOM OF) 2.33
UNITED STATES TREASURY 1.78
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.12
INDIA (REPUBLIC OF) 1.09
Name Weight (%)
FEDERAL HOME LOAN MORTGAGE CORPORATION 0.69
POLAND (REPUBLIC OF) 0.67
JAPAN (GOVERNMENT OF) 0.62
INDONESIA (REPUBLIC OF) 0.60
IRELAND (GOVERNMENT) 0.59
Name Market Value Weight (%) Shares Maturity Coupon (%)
Detailed Holdings and Analytics
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Exposure Breakdowns

Exposure Breakdowns

as of Oct 31, 2024

% Notional Exposures

Type Fund
as of Oct 31, 2024

% Market Value

Type Fund
as of Oct 31, 2024

% Market Value

Type Fund
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
Chief Investment Officer of Global Fixed Income

        

Read More

Rick Rieder, Senior Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Fundamental Fixed Income business and Head of the Global Allocation Investment Team.

 

Responsible for managing roughly $2.4 trillion in assets, Mr. Rieder is a member of BlackRock’s Global Executive Committee (GEC) and its GEC Investment Sub-Committee. He also is Chairman of the firm-wide BlackRock Investment Council.

 

Mr. Rieder currently serves on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board. He was nominated for Outstanding Portfolio Manager by Morningstar in 2021, was awarded the Global Unconstrained Fixed Income Manager of the Year for 2015 by Institutional Investor, was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014 and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013.

 

Mr. Rieder has served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury and member of the Federal Reserve’s Investment Advisory Committee on Financial Markets.

 

Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. From 1987 to 2008, he was with Lehman Brothers where he was 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 Goizueta Business School, and the University's Finance Committee, and is the Vice Chairman of the Investment Committee. Mr. Rieder is founder and chairman of the Goizueta Business School's BBA investment fund and community financial literacy outreach program, Graduation Generation. Mr. Rieder serves as Chairman and President of the Board of Education for North Star Academy's fourteen Charter Schools in Newark, NJ. He is on the Board of the BlackRock Foundation, the Board of Advisors for the Hospital for Special Surgery, and the Board of Big Brothers/Big Sisters of Newark and Essex County. Mr. Rieder formerly served on the Board and National Leadership Council of the Communities in Schools Educational Foundation in Atlanta, and Trustee for the U.S. Olympic Foundation. 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.

Russell Brownback
Russell Brownback
Head of Global Macro Positioning Team within Global Fixed Income

    

Read More

Russell Brownback, Managing Director, is head of the Global Macro Positioning team. He is a co lead manager of the BlackRock Strategic Global Bond Fund and other flexible global aggregate mandates.


Prior to joining BlackRock in 2009, Mr. Brownback was a Senior Partner with R3 Capital Partners. From 1992 to 2008, he was with Lehman Brothers, most recently as a Managing Director and proprietary trader/portfolio manager for the Global Principal Strategies team.


Previously, he was the head of the firm's Corporate Bond trading desk and an industrial sector bond trader. During his tenure , he also traded emerging markets and cross over sovereign bonds.


Mr. Brownback earned a BA degree in economics from Hobart College in 1987 and an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University. He has been an adjunct professor for both graduate and undergraduate studies at Syracuse University's Whitman School of Business.

David Rogal
David Rogal
Managing Director, Global Fixed Income, Head of Core and Core Plus Fixed Income Strategies, Head of Inflation Linked Portfolios

 

 

Read More

David Rogal, Managing Director, is a member of the Multi-Sector team within BlackRock's Global Fixed Income Group. Mr. Rogal is Head of Inflation Linked Portfolios and the lead investor for Core and Core Plus Strategies. He is a lead portfolio manager of BlackRock's Core Bond, Inflation Protected, Strategic Income Opportunities, Total Return Fund, and the iShares Total Return Active ETF. Mr. Rogal focuses on broad macro positioning, with specialties in interest rates, inflation, and volatility trading.

 

Mr. Rogal joined Fixed Income in 2009. Previously, he was a member of BlackRock's Multi Asset Strategies group, where he developed quantitative models and advised insurance companies, pension funds, and banks on asset-allocation and asset-liability management. 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.

Portfolio Manager
Read the Team's Commentary

Read the Team's Latest Market Views

Literature

Literature

Loading fund documents...
No documents found

to access this functionality 

Checkout {{ translations['submit'][selectedAction] }} {{ responseMessage }} {{ warningMessage }} You have previously requested to be opted out of all BlackRock Literature Services emails. To subscribe, you must opt back in.