Fixed Income

BFRKX

Floating Rate Income Fund

Overview

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Performance

Performance

  YTD 1m 3m 1y 3y 5y 10y
8.40 0.53 2.03 8.40 21.56 29.99 58.93
Benchmark (%) 8.95 0.57 2.27 8.95 22.52 32.92 65.21
Morningstar Category Avg. (%) 8.42 0.48 2.18 8.42 18.34 25.38 49.48
  2020 2021 2022 2023 2024
Total Return (%) 2.57 4.26 -0.37 12.55 8.40
Benchmark (%) 3.12 5.20 -0.60 13.32 8.95
Morningstar Category Avg. (%) 1.16 4.36 -2.49 12.19 8.42

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, "BlackRock Floating Rate Income Portfolio", 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. The predecessor fund acquired the assets and liabilities of "BlackRock Senior Floating Rate Fund, Inc." in a reorganization  on March 21, 2011. The performance information for periods prior to March 21, 2011 is based on the performance of Blackrock Senior Floating Rate Fund, Inc.

The performance information for periods prior to March 28, 2016, the commencement of operations of the share class, shows the performance of the predecessor fund’s Investor A Shares. The performance of this share class would be substantially similar to Investor A Shares because this share class and Investor A Shares invest in the same portfolio of securities and performance would only differ to the extent that this share class and Investor A Shares have different expenses. See the Fund’s prospectus for more details.
Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Mar 28, 2025
$4,237.0 M
Share Class launch date
Mar 28, 2016
Benchmark Index
Morningstar LSTA Leveraged Loan Index (USD)
Morningstar Category
Bank Loan
CUSIP
09260B739
Open to New Investors
Yes
Size of Class (Millions)
as of Mar 28, 2025
$1,238.9 M
Asset Class
Fixed Income
Distribution Frequency
None
Lipper Classification
Loan Participation Funds
Max Offer Price
as of Mar 28, 2025
$9.55
Turnover Percent in the Annual Report
as of Jul 31, 2024
41%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Feb 28, 2025
487
Alpha (3y)
as of Feb 28, 2025
-0.02
R-Squared (3y)
as of Feb 28, 2025
96.21
Beta (3y)
as of Feb 28, 2025
1.01
Unsubsidized 30-Day SEC Yield
as of Feb 28, 2025
6.97%
Effective Duration
as of Feb 28, 2025
0.04 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Aug 31, 2023
4.54%
30 Day SEC Yield
as of Feb 28, 2025
6.98%
Yield to Maturity
as of Feb 28, 2025
7.61%
Fund Standard Deviation (3y)
as of Feb 28, 2025
3.88
Average Coupon
as of Feb 28, 2025
6.87%
Yield to Worst
as of Feb 28, 2025
7.55%
Nominal WAL
as of Feb 28, 2025
4.31 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Jun 30, 2022
-4.92%

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.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.64%
Net Expense Ratio 0.63%

Net Expense Ratio excluding Investment Related Expenses is 0.60%

  • Acquired Fund Fees and Expenses 0.03%
  • Interest expense 0.00%

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Floating Rate Income Fund, as of Feb 28, 2025 rated against 215 Bank Loan Funds based on risk adjusted total return.

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 Feb 28, 2025 out of 215, 6,088, 215, 108 and 215 Funds, respectively in Lipper's Loan Participation Funds classification.

Holdings

Holdings

as of Feb 28, 2025
Name Weight (%)
POWERSHARES SENIOR LOAN PORTFOLIO 2.16
SPDR BLACKSTONE/GSO SENIOR LOAN 1.46
MEDLINE BORROWER LP 1.24
CLOUD SOFTWARE GROUP INC 1.23
TRANSDIGM INC 1.18
Name Weight (%)
CLOVER HOLDINGS 2 LLC 1.00
ALLIANT HOLDINGS INTERMEDIATE LLC 0.90
DUN & BRADSTREET CORPORATION (THE) 0.86
HUB INTERNATIONAL LTD 0.81
ATHENAHEALTH GROUP INC 0.81
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 Feb 28, 2025

% of Market Value

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as of Feb 28, 2025

% of Market Value

as of Feb 28, 2025

% of Market Value

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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

Mitchell S. Garfin, CFA
Co-Head of U.S. High Yield in Global Credit team

  

David Delbos
Managing Director

David Delbos, Managing Director, is the Co-Head of U.S. High Yield within BlackRock's Global Credit team.

Carly Wilson
Managing Director

Carly Wilson, Managing Director, is a member of BlackRock's Global Credit Platform. She is a portfolio manager for the platform's bank loan strategies and global long/short credit strategies.

Portfolio Manager

Literature

Literature

 

Funds related to BFRKX

Funds related to BFRKX

BHYIX
High Yield Fund
BIICX
Multi-Asset Income Fund
BDHIX
Dynamic High Income Fund
FLOT
iShares Floating Rate Bond ETF

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