Fixed Income

MFHQX

Total Return Fund

  • NAV as of Nov 18, 2024 $9.82
    52 WK: 9.59 - 10.28
  • 1 Day NAV Change as of Nov 18, 2024 0.01 (0.10%)
  • NAV Total Return as of Nov 18, 2024 YTD: 1.18%

Overview

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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 1.53 -4.14 -0.86 0.83
Return w/ Sales Charge (%) 0.55 -4.14 -0.86 0.83
Benchmark (%) 2.63 -3.02 -0.23 1.35
Morningstar Category Avg. (%) 3.83 -2.81 0.20 1.49
Morningstar Ranking 577/623 505/561 472/525 334/374
Morningstar Quartile 4 4 4 4
Lipper Category Avg. (%) 3.34 -3.02 -0.01 1.30
Lipper Ranking 497/508 454/477 430/450 301/331
Lipper Quartile 4 4 4 4
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) -0.77 0.84 -0.13 1.53 -11.93 -4.24 8.61
Return w/ Sales Charge (%) -1.74 -0.16 -1.12 0.55 -11.93 -4.24 8.61
Benchmark (%) -0.71 0.95 0.07 2.63 -8.80 -1.16 14.30
Morningstar Category Avg. (%) 0.11 0.99 0.31 3.83 -8.19 1.02 15.97
Lipper Category Avg. (%) -0.20 1.01 0.24 3.34 -8.75 -0.02 13.94
  2019 2020 2021 2022 2023
Total Return (%) 8.73 7.84 -1.65 -15.06 4.90
Annual w/ Sales Charge (%) 7.73 6.84 -2.62 -15.89 3.90
Benchmark (%) 8.72 7.51 -1.54 -13.01 5.53
Morningstar Category Avg. (%) 8.94 8.06 -0.67 -13.27 6.22

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.
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Key Facts

Key Facts

Size of Fund (Millions)
as of Nov 18, 2024
$20,037.6 M
Share Class launch date
Dec 07, 2001
Benchmark Index
Bloomberg US Aggregate Bond Index
Morningstar Category
Intermediate Core-Plus Bond
CUSIP
09252M503
Open to New Investors
Yes
Size of Class (Millions)
as of Nov 18, 2024
$34.2 M
Asset Class
Fixed Income
Distribution Frequency
Monthly
Lipper Classification
Core Bond Funds
Max Offer Price
as of Nov 18, 2024
$9.82
Turnover Percent in the Annual Report
as of Sep 30, 2023
380.00%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Oct 31, 2024
4,156
Alpha (3y)
as of Oct 31, 2024
-0.08
R-Squared (3y)
as of Oct 31, 2024
99.09
Beta (3y)
as of Oct 31, 2024
1.06
Unsubsidized 30-Day SEC Yield
as of Oct 31, 2024
3.73%
Effective Duration
as of Oct 31, 2024
6.48 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
8.45%
30 Day SEC Yield
as of Oct 31, 2024
3.77%
Yield to Maturity
as of Oct 31, 2024
5.81%
Fund Standard Deviation (3y)
as of Oct 31, 2024
8.26
Average Coupon
as of Oct 31, 2024
4.13%
Yield to Worst
as of Oct 31, 2024
5.77%
Weighted Average Life
as of Oct 31, 2024
9.23 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2022
-8.86%
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
0.28%
MSCI - Nuclear Weapons
as of Oct 31, 2024
0.13%
MSCI - Civilian Firearms
as of Oct 31, 2024
0.00%
MSCI - Tobacco
as of Oct 31, 2024
0.39%
MSCI - UN Global Compact Violators
as of Oct 31, 2024
0.04%
MSCI - Thermal Coal
as of Oct 31, 2024
0.10%
MSCI - Oil Sands
as of Oct 31, 2024
0.02%
Business Involvement Coverage
as of Oct 31, 2024
21.35%
Percentage of Fund not covered
as of Oct 31, 2024
78.70%
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 0.14% and for Oil Sands 0.20%.

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 1.50%
Net Expense Ratio 1.45%

Net Expense Ratio excluding Investment Related Expenses is 1.44%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. (Effective Nov 20, 2023)
Analyst-Driven % as of Nov 20, 2023
100.00
Data Coverage % as of Nov 20, 2023
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 478, 6,105, 481, 51 and 481 Funds, respectively in Lipper's Core Bond Funds classification.

Holdings

Holdings

as of Oct 31, 2024
Name Weight (%)
UNITED STATES TREASURY 18.76
UNIFORM MBS 12.97
FEDERAL NATIONAL MORTGAGE ASSOCIATION 12.30
FEDERAL HOME LOAN MORTGAGE CORPORATION 5.80
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 5.75
Name Weight (%)
GOLDMAN SACHS GROUP INC/THE 1.73
JPMORGAN CHASE & CO 1.54
MORGAN STANLEY 1.48
BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) 1.14
DIAMONDBACK ENERGY INC 1.09
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 Benchmark Net
as of Oct 31, 2024

% Market Value

Type Fund Benchmark Net
as of Oct 31, 2024

% Market Value

Type Fund Benchmark Net
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.

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.

Chi Chen
Chi Chen
Managing Director

    

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Chi Chen, Managing Director, is a Portfolio Manager in BlackRock's Global Fixed Income Investment Group, focusing on US multi-sector fixed income mandates and global government bond mandates. She is Co-Manager of BlackRock's Total Return Fund and ETF, Core Bond Fund, US Dollar Bond Fund, and Global Government Bond Fund.

 

Ms. Chen focuses on macro investment strategies and specializes in interest rates investment. She leads research efforts for US rates in the Global Fixed Income platform. In addition, she is actively involved in the platform’s top-down process including regime identification, asset allocation, macro positioning, and portfolio construction. Previously, she was a macro researcher on the Economics team at BlackRock.

 

Ms. Chen joined BlackRock as an analyst in the Global Fixed Income Investment Group. She earned a BA degree, magna cum laude, in Economics and Statistics from Mount Holyoke College.

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

Literature

Literature

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