BlackRock High Yield Bond Instl
- BHYIX
- Price as of: Mar 05, 2021
-
$7.78
N/A N/A
- Primary Theme
- High Yield Bond
- Fund Company
- BlackRock
- Share Class
BHYIX - Snapshot
Vitals
- YTD Return -0.3%
- 3 Yr Annualized Return 6.1%
- 5 Yr Annualized Return 8.2%
- Net Assets $27.3 B
- Holdings in Top 10 10.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING RELATED FEES
- Expense Ratio 0.59%
SALES FEES
- Front Load N/A
- Deferred Load N/A
BROKERAGE FEES
- Turnover 119.00%
TRADING FEES
- Max Redemption Fee N/A
Min Investment
- Standard (Taxable) $2,000,000
- IRA N/A
Fund Classification
-
Primary Theme
High Yield Bond
- Fund Type Open End Mutual Fund
- Investment Style High Yield Bond
BHYIX - Profile
Distributions
- YTD Total Return -0.3%
- 3 Yr Annualized Total Return 6.1%
- 5 Yr Annualized Total Return 8.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 5.37%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameBlackRock High Yield Bond Portfolio
-
Fund Family NameBlackRock
-
Inception DateNov 19, 1998
-
Shares Outstanding1734624310
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerJames Keenan
Fund Description
The fund invests primarily in non-investment grade bonds with maturities of ten years or less. It normally invests at least 80% of its assets in high yield bonds. The fund may invest up to 30% of its assets in non-dollar denominated bonds of issuers located outside of the United States. Its investment in non-dollar denominated bonds may be on a currency hedged or unhedged basis. The fund may also invest in convertible and preferred securities.
BHYIX - Performance
Return Ranking - Trailing
| Period | BHYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.3% | -4.7% | 8.3% | 55.24% |
| 1 Yr | 8.2% | -39.8% | 18.8% | 40.88% |
| 3 Yr | 6.1%* | -16.0% | 10.2% | 24.75% |
| 5 Yr | 8.2%* | -7.4% | 13.8% | 26.94% |
| 10 Yr | 6.4%* | 1.2% | 9.2% | 11.93% |
* Annualized
Return Ranking - Calendar
| Period | BHYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | 0.3% | -46.8% | 399.1% | 43.62% |
| 2019 | 8.8% | -10.3% | 226.1% | 27.46% |
| 2018 | N/A | -18.4% | -0.2% | N/A |
| 2017 | N/A | -9.5% | 18.8% | N/A |
| 2016 | N/A | -9.1% | 28.6% | N/A |
Total Return Ranking - Trailing
| Period | BHYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.3% | -4.7% | 8.3% | 55.24% |
| 1 Yr | 8.2% | -39.8% | 18.5% | 34.21% |
| 3 Yr | 6.1%* | -16.0% | 10.2% | 22.67% |
| 5 Yr | 8.2%* | -7.4% | 13.8% | 24.05% |
| 10 Yr | 6.4%* | 1.2% | 9.2% | 11.33% |
* Annualized
Total Return Ranking - Calendar
| Period | BHYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | 0.3% | -46.8% | 399.1% | 43.62% |
| 2019 | 8.8% | -8.1% | 23.9% | 30.35% |
| 2018 | N/A | -18.4% | 1.3% | N/A |
| 2017 | N/A | -8.5% | 18.8% | N/A |
| 2016 | N/A | -9.1% | 39.0% | N/A |
NAV & Total Return History
BHYIX - Holdings
Concentration Analysis
| BHYIX | Category Low | Category High | BHYIX % Rank | |
|---|---|---|---|---|
| Net Assets | 27.3 B | 3.63 M | 28.6 B | 0.41% |
| Number of Holdings | 1670 | 3 | 2297 | 0.94% |
| Net Assets in Top 10 | 2.94 B | -564 M | 3.47 B | 0.27% |
| Weighting of Top 10 | 10.57% | 3.2% | 100.0% | 59.02% |
Top 10 Holdings
- BlackRock Liquidity T-Fund Instl 2.58%
- iShares Preferred&Income Securities ETF 1.96%
- TransDigm, Inc. 6.25% 1.28%
- iShares iBoxx $ High Yield Corp Bd ETF 1.27%
- iShares Broad USD High Yield Corp Bd ETF 0.72%
- Xtrackers USD High Yield Corp Bd ETF 0.68%
- Solera, LLC / Solera Finance, Inc. 10.5% 0.53%
- Allied Universal Holdco LLC / Allied Universal Finance Corporation 6.62% 0.53%
- Connect Finco SARL/Connect US Finco LLC 6.75% 0.53%
- Altice France Holdings S A 10.5% 0.52%
Asset Allocation
| Weighting | Return Low | Return High | BHYIX % Rank | |
|---|---|---|---|---|
| Bonds | 92.09% | 6.16% | 146.57% | 64.10% |
| Convertible Bonds | 2.41% | 0.00% | 18.78% | 42.91% |
| Stocks | 1.96% | -8.82% | 43.20% | 14.71% |
| Preferred Stocks | 1.77% | 0.00% | 11.16% | 6.88% |
| Cash | 1.69% | -40.59% | 75.30% | 68.96% |
| Other | 0.07% | -50.78% | 33.59% | 18.89% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BHYIX % Rank | |
|---|---|---|---|---|
| Energy | 32.92% | 0.00% | 100.00% | 43.85% |
| Basic Materials | 21.68% | 0.00% | 100.00% | 8.61% |
| Real Estate | 18.60% | 0.00% | 100.00% | 5.33% |
| Healthcare | 8.97% | 0.00% | 100.00% | 11.89% |
| Utilities | 7.67% | 0.00% | 99.28% | 19.67% |
| Communication Services | 4.76% | 0.00% | 100.00% | 28.69% |
| Technology | 3.65% | 0.00% | 99.99% | 16.39% |
| Industrials | 1.42% | 0.00% | 100.00% | 29.92% |
| Financial Services | 0.24% | 0.00% | 100.00% | 33.20% |
| Consumer Cyclical | 0.08% | 0.00% | 100.00% | 32.79% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 52.66% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BHYIX % Rank | |
|---|---|---|---|---|
| US | 1.79% | -8.82% | 37.04% | 14.30% |
| Non US | 0.17% | 0.00% | 15.55% | 12.15% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | BHYIX % Rank | |
|---|---|---|---|---|
| Corporate | 96.38% | 0.00% | 100.00% | 42.97% |
| Cash & Equivalents | 3.13% | 0.00% | 92.44% | 48.38% |
| Securitized | 0.39% | 0.00% | 92.43% | 30.00% |
| Derivative | 0.08% | 0.00% | 41.53% | 24.19% |
| Government | 0.02% | 0.00% | 71.97% | 38.92% |
| Municipal | 0.00% | 0.00% | 13.37% | 54.73% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | BHYIX % Rank | |
|---|---|---|---|---|
| US | 78.51% | 0.18% | 122.57% | 59.24% |
| Non US | 13.58% | -25.95% | 97.40% | 43.45% |
BHYIX - Expenses
Operational Fees
| BHYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.59% | 0.03% | 20.43% | 86.78% |
| Management Fee | 0.41% | 0.00% | 1.84% | 14.97% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.04% | 0.00% | 0.50% | 13.24% |
Sales Fees
| BHYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.50% | N/A |
Trading Fees
| BHYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| BHYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 119.00% | 0.00% | 349.00% | 87.83% |
BHYIX - Distributions
Dividend Yield Analysis
| BHYIX | Category Low | Category High | BHYIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 3.74% | 51.75% |
Dividend Distribution Analysis
| BHYIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| BHYIX | Category Low | Category High | BHYIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 5.37% | -2.17% | 10.93% | 33.33% |
Capital Gain Distribution Analysis
| BHYIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Dividend Payout History
| Date | Amount |
|---|---|
| Feb 28, 2019 | $0.033 |
| Jan 31, 2019 | $0.037 |
| Dec 31, 2018 | $0.039 |
| Nov 30, 2018 | $0.038 |
| Oct 31, 2018 | $0.039 |
| Sep 28, 2018 | $0.037 |
| Aug 31, 2018 | $0.037 |
| Jul 31, 2018 | $0.038 |
| Jun 29, 2018 | $0.035 |
| May 31, 2018 | $0.036 |
| Apr 30, 2018 | $0.035 |
| Mar 29, 2018 | $0.035 |
| Feb 28, 2018 | $0.033 |
| Jan 31, 2018 | $0.037 |
BHYIX - Fund Manager Analysis
Managers
James Keenan
Start Date
Tenure
Tenure Rank
Dec 31, 2007
13.17
13.2%
Mr. Keenan is a Managing Director of BlackRock, Inc. since 2008 and Head of the Leveraged Finance Portfolio Team from 2006 to 2007;Prior to joining BlackRock in 2004, He was a senior high yield trader at Columbia Management Group from 2003 to 2004. Mr. Keenan began his investment career at UBS Global Asset Management where he held roles as a trader, research analyst and a portfolio analyst from 1998 through 2003. Mr. Keenan holds the Chartered Financial Analyst designation.
Mitchell Garfin
Start Date
Tenure
Tenure Rank
May 08, 2009
11.82
11.8%
Managing Director of BlackRock, Inc. since 2009 and Co-Head of U.S. Leveraged Finance; Director of BlackRock, Inc. from 2005 to 2008.
Derek Schoenhofen
Start Date
Tenure
Tenure Rank
May 08, 2009
11.82
11.8%
Derek Schoenhofen is a Managing Director of BlackRock, Inc. since 2019; Director of BlackRock, Inc. from 2006 to 2018; Vice President of BlackRock, Inc. from 2000 to 2005.
David Delbos
Start Date
Tenure
Tenure Rank
Mar 20, 2014
6.95
7.0%
Managing Director of BlackRock, Inc. since 2012; Director of BlackRock, Inc. from 2007 to 2011; Vice President of BlackRock, Inc. from 2005 to 2006.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 36.54 | 6.67 | 1.67 |