Fixed Income

WOBIX

BlackRock Core Bond Option (529 Ohio)

  • NAV as of Nov 18, 2024 $13.57
    52 WK: 12.75 - 14.10
  • 1 Day NAV Change as of Nov 18, 2024 0.02 (0.15%)
  • NAV Total Return as of Nov 18, 2024 YTD: 1.42%

Overview

About this Fund

1. High-Quality, Traditional Bonds

2. Access BlackRock's Deep Bond Expertise

3. Seeking Conservative Long-Term Total Returns

Investment Approach

Invests its assets in investment grade rated bonds and maintains an average portfolio duration that is within +/- 20% of the duration of its benchmark, the Bloomberg U.S. Aggregate Bond Index.

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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 11.47 -1.64 0.24 1.40
Benchmark (%) 11.57 -1.39 0.33 1.84
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 4.56 1.30 5.11 11.47 -4.83 1.23 14.95
Benchmark (%) 4.45 1.34 5.20 11.57 -4.11 1.67 20.04
  2019 2020 2021 2022 2023
Total Return (%) 7.81 8.33 -2.14 -13.53 5.69
Benchmark (%) 8.72 7.51 -1.54 -13.01 5.53

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 30, 2022 are the returns of the Fund when it followed different investment strategies under the name “Wells Fargo Core Bond Option.”

Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Nov 18, 2024
$47.6 M
Share Class launch date
Jul 15, 2019
Benchmark Index
Bloomberg US Aggregate Bond Index
Morningstar Category
-
CUSIP
19452P131
Open to New Investors
Yes
Size of Class (Millions)
as of Nov 18, 2024
$3.0 M
Asset Class
Fixed Income
Distribution Frequency
-
Lipper Classification
-
Max Offer Price
as of Nov 18, 2024
$13.57
Turnover Percent in the Annual Report
-

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Oct 31, 2024
1
Alpha (3y)
as of Oct 31, 2024
0.00
Fund Standard Deviation (3y)
as of Oct 31, 2024
0.00
Average Coupon
as of Oct 31, 2024
0.08%
Effective Duration
as of Oct 31, 2024
5.89 yrs
30 Day SEC Yield
as of -
-
R-Squared (3y)
as of Oct 31, 2024
0.00
Beta (3y)
as of Oct 31, 2024
0.00
Unsubsidized 30-Day SEC Yield
as of -
-
Nominal WAL
as of Oct 31, 2024
9.03 yrs
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

Fees

as of current program description
Gross Expense Ratio 0.84%
Net Expense Ratio 0.84%

Net Expense Ratio excluding Investment Related Expenses is 0.14%

  • Acquired Fund Fees and Expenses 0.70%

Ratings

Holdings

Holdings

as of Oct 31, 2024
Name Weight (%)
N/A Issuer Name 99.50
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

% of Market Value

Type Fund Benchmark Net
as of Jul 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Jul 31, 2024

% of 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. 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

        

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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.

Akiva Dickstein
Akiva Dickstein
Managing Director, Global Fixed Income, Head of Customized Multi-Sector Portfolios, Head of Short Duration

    

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Akiva Dickstein, Managing Director, is a member of the Multi-Sector team within BlackRock’s Global Fixed Income group. Mr. Dickstein is the Head of Customized Multi-Sector Portfolios, Head of Short Duration Fixed Income, and a member of the Global Fixed Income executive team. He is a lead portfolio manager of BlackRock's Core Bond, Low Duration Bond Fund, and iShares Short Duration Bond Active ETF (NEAR). Prior to taking on his current responsibilities, Mr. Dickstein was the lead portfolio manager on BlackRock's mortgage portfolios.

 

Before joining BlackRock in 2009, 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.

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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