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Name

As of 11/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BlackRock Total Return Fund

MSHQX | Fund

$9.83

$18.4 B

4.50%

$0.44

0.80%

Vitals

YTD Return

2.0%

1 yr return

6.5%

3 Yr Avg Return

-2.8%

5 Yr Avg Return

-0.2%

Net Assets

$18.4 B

Holdings in Top 10

46.6%

52 WEEK LOW AND HIGH

$9.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.80%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 459.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BlackRock Total Return Fund

MSHQX | Fund

$9.83

$18.4 B

4.50%

$0.44

0.80%

MSHQX - Profile

Distributions

  • YTD Total Return 2.0%
  • 3 Yr Annualized Total Return -2.8%
  • 5 Yr Annualized Total Return -0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.57%
DIVIDENDS
  • Dividend Yield 4.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BlackRock Total Return Fund
  • Fund Family Name
    BlackRock-Advised Funds
  • Inception Date
    Sep 26, 2007
  • Shares Outstanding
    N/A
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Rick Rieder

Fund Description

The Fund typically invests more than 90% of its assets in a diversified portfolio of fixed-income securities such as corporate bonds and notes, mortgage-backed securities, asset-backed securities, convertible securities, preferred securities and government obligations. Both U.S. and foreign companies and governments may issue these securities. Under normal circumstances, the Fund invests at least 80% of its assets in bonds and invests primarily in investment grade fixed-income securities. For the purposes of this strategy, “bonds” include the following: obligations issued or guaranteed by the U.S. Government or a foreign government or their agencies, instrumentalities or political subdivisions; mortgage-backed securities, including agency mortgage pass-through securities and commercial mortgage-backed securities; mortgage to-be-announced (“TBA”) securities; debt obligations of U.S. or foreign issuers; municipal securities; and asset-backed securities. The Fund may invest in fixed-income securities of any duration or maturity.
The Fund may invest up to 30% of its net assets in securities of foreign issuers, of which 20% (as a percentage of the Fund’s net assets) may be in emerging markets issuers. Investments in U.S. dollar-denominated securities of foreign issuers, excluding issuers from emerging markets, are permitted beyond the 30% limit. This means that the Fund may invest in such U.S. dollar-denominated securities of foreign issuers without limit. The Fund may also invest in derivative securities for hedging purposes or to increase the return on its investments. The Fund may also invest in credit-linked notes, credit-linked trust certificates, structured notes, or other instruments evidencing interests in special purpose vehicles, trusts, or other entities that hold or represent interests in fixed-income securities. The Fund may also enter into reverse repurchase agreements and mortgage dollar rolls.
The Fund may invest up to 20% of its net assets in fixed-income securities that are rated below investment grade by the Nationally Recognized Statistical Rating Organizations (“NRSROs”), including Moody’s Investor Service, Inc., S&P Global Ratings or Fitch Ratings, Inc., or in unrated securities of equivalent credit quality. Split rated bonds will be considered to have the higher credit rating.
The Fund may invest up to 15% of its net assets in collateralized debt obligations (“CDOs”), of which 10% (as a percentage of the Fund’s net assets) may be in collateralized loan obligations (“CLOs”). CDOs are types of asset-backed securities. CLOs are ordinarily issued by a trust or other special purpose entity and are typically collateralized by a pool of loans, which may include, among others, domestic and non-U.S. senior secured loans, senior unsecured loans, and subordinate corporate loans, including loans that may be rated below investment grade or equivalent unrated loans, held by such issuer.
The Fund is a “feeder” fund that invests all of its assets in a corresponding “master” portfolio, the Master Total Return Portfolio (previously defined as the “Master Portfolio”), a series of the Master Bond LLC (the “Master LLC”), a mutual fund that has the same investment objectives and strategies as the Fund. All investments will be made at the level of the Master Portfolio. This structure is sometimes called a “master/feeder” structure. The Fund’s investment results will correspond directly to the investment results of the underlying Master Portfolio in which it invests. For simplicity, this prospectus uses the term “Fund” to include the Master Portfolio. The Fund will cease to invest in the Master Portfolio as part of a “master/feeder” structure and will instead operate as a standalone fund effective on or about March 11, 2024. As of such date, all references to the “Total Return Fund” or the “Fund” in this prospectus will no longer include the Master Portfolio. The investment objective, process, strategies and risks of the Fund are substantially similar to those of the Master Portfolio.
The Fund may seek to provide exposure to the investment returns of real assets that trade in the commodity markets through investment in commodity-linked derivative instruments and investment vehicles that exclusively invest in commodities such as ETFs, which are designed to provide this exposure without direct investment in physical commodities.
The Fund may also gain exposure to commodity markets by investing, through the Master Portfolio, up to 25% of its total assets in the Subsidiary, a wholly owned subsidiary of the Master Portfolio formed in the Cayman Islands, which invests primarily in commodity-related instruments.
The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
Read More

MSHQX - Performance

Return Ranking - Trailing

Period MSHQX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -6.4% 11.1% 50.41%
1 Yr 6.5% -2.1% 16.2% 63.66%
3 Yr -2.8%* -10.6% 27.5% 70.49%
5 Yr -0.2%* -7.5% 58.4% 58.63%
10 Yr 1.4%* -2.9% 73.8% 48.15%

* Annualized

Return Ranking - Calendar

Period MSHQX Return Category Return Low Category Return High Rank in Category (%)
2023 1.5% -16.2% 8.1% 74.07%
2022 -16.6% -34.7% 131.9% 68.32%
2021 -3.2% -11.6% 4.4% 41.91%
2020 2.5% -10.1% 946.1% 76.91%
2019 6.3% -1.7% 16.9% 24.79%

Total Return Ranking - Trailing

Period MSHQX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -6.4% 11.1% 50.41%
1 Yr 6.5% -2.1% 16.2% 63.66%
3 Yr -2.8%* -10.6% 27.5% 70.49%
5 Yr -0.2%* -7.5% 58.4% 58.63%
10 Yr 1.4%* -2.9% 73.8% 48.15%

* Annualized

Total Return Ranking - Calendar

Period MSHQX Return Category Return Low Category Return High Rank in Category (%)
2023 5.8% -11.3% 11.9% 57.20%
2022 -14.3% -32.2% 131.9% 73.05%
2021 -1.0% -9.4% 9.2% 51.71%
2020 8.9% -1.9% 1009.0% 35.72%
2019 9.8% 1.1% 21668.0% 23.37%

NAV & Total Return History

MSHQX - Holdings

Concentration Analysis

MSHQX Category Low Category High MSHQX % Rank
Net Assets 18.4 B 2.9 M 314 B 13.95%
Number of Holdings 4597 1 17787 6.06%
Net Assets in Top 10 10.5 B 1.62 M 35.1 B 4.93%
Weighting of Top 10 46.56% 4.4% 432.9% 12.59%

Top 10 Holdings

  1. BlackRock Liquidity T-Fund Instl 20.65%
  2. Federal National Mortgage Association 2.5% 14.09%
  3. Federal National Mortgage Association 2.5% 12.03%
  4. Federal National Mortgage Association 2.5% 11.79%
  5. Federal National Mortgage Association 2.5% 11.72%
  6. Federal National Mortgage Association 2.5% 7.20%
  7. Government National Mortgage Association 3% 6.88%
  8. United States Treasury Notes 0.5% 6.29%
  9. Federal National Mortgage Association 2.5% 5.83%
  10. Federal National Mortgage Association 2% 5.46%

Asset Allocation

Weighting Return Low Return High MSHQX % Rank
Bonds 		78.99% 0.00% 993.61% 91.18%
Cash 		18.74% -54.51% 237.69% 3.80%
Stocks 		1.32% 0.00% 99.99% 9.54%
Convertible Bonds 		0.91% 0.00% 7.93% 72.05%
Other 		0.04% -16.55% 52.94% 79.14%
Preferred Stocks 		0.00% 0.00% 71.02% 77.39%

Stock Sector Breakdown

Weighting Return Low Return High MSHQX % Rank
Real Estate 		19.84% 0.00% 99.26% 8.43%
Technology 		17.48% 0.00% 43.45% 15.66%
Consumer Cyclical 		15.91% 0.00% 100.00% 6.02%
Energy 		11.31% 0.00% 100.00% 37.35%
Financial Services 		10.58% 0.00% 100.00% 34.34%
Communication Services 		8.53% 0.00% 100.00% 18.67%
Industrials 		6.26% 0.00% 48.31% 22.89%
Basic Materials 		6.08% 0.00% 100.00% 13.25%
Healthcare 		4.00% 0.00% 17.70% 16.27%
Utilities 		0.00% 0.00% 100.00% 75.30%
Consumer Defense 		0.00% 0.00% 99.67% 73.49%

Stock Geographic Breakdown

Weighting Return Low Return High MSHQX % Rank
US 		1.27% 0.00% 99.99% 9.76%
Non US 		0.05% 0.00% 86.16% 1.34%

Bond Sector Breakdown

Weighting Return Low Return High MSHQX % Rank
Cash & Equivalents 		38.87% -0.46% 237.69% 0.92%
Corporate 		27.75% 0.00% 100.00% 58.49%
Securitized 		22.51% 0.00% 98.40% 75.57%
Government 		10.01% 0.00% 86.23% 85.61%
Municipal 		0.51% 0.00% 100.00% 46.58%
Derivative 		0.34% -1.58% 44.82% 20.55%

Bond Geographic Breakdown

Weighting Return Low Return High MSHQX % Rank
US 		63.55% 0.00% 993.61% 96.30%
Non US 		15.44% 0.00% 30.95% 0.72%

MSHQX - Expenses

Operational Fees

MSHQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.80% 0.01% 39.64% 40.12%
Management Fee 0.34% 0.00% 1.76% 43.72%
12b-1 Fee 0.25% 0.00% 1.00% 49.68%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

MSHQX 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% 4.00% N/A

Trading Fees

MSHQX 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.

MSHQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 459.00% 2.00% 493.39% 93.29%

MSHQX - Distributions

Dividend Yield Analysis

MSHQX Category Low Category High MSHQX % Rank
Dividend Yield 4.50% 0.00% 10.11% 34.05%

Dividend Distribution Analysis

MSHQX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Quarterly

Net Income Ratio Analysis

MSHQX Category Low Category High MSHQX % Rank
Net Income Ratio 1.57% -1.28% 4.79% 58.18%

Capital Gain Distribution Analysis

MSHQX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

MSHQX - Fund Manager Analysis

Managers

Rick Rieder

Start Date

Tenure

Tenure Rank

Aug 06, 2010

11.82

11.8%

Rick Rieder, Managing Director, is BlackRock's Global Chief Investment Officer of Fixed Income, and Co-head of BlackRock's Global Fixed Income platform, a member of BlackRock's Global Operating Committee and Chairman of the BlackRock firm-wide Investment Council. Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. He served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury. Mr. Rieder is currently a member of the Federal Reserve Bank of New York's Investment Advisory Committee on Financial Markets, and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013, and was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014. From 1987 to 2008, Mr. Rieder was with Lehman Brothers, most recently as 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 Business School, and the University's Investment Committee and is the Vice Chairman of the Finance Committee. Mr. Rieder is founder and chairman of the business school's BBA investment fund and community financial literacy program. Mr. Rieder serves as Chairman of the Board of North Star Academy's eleven Charter Schools in Newark, New Jersey and is the Founder and Chairman of the Board of Graduation Generation Public School Collaboration in Atlanta. He is a Trustee for the US Olympic Committee, and on the board of advisors for the Hospital for Special Surgery. He serves on the National Leadership Council of the Communities in Schools Educational Foundation and on the board of Big Brothers/Big Sisters of Newark and Essex County 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.

Bob Miller

Start Date

Tenure

Tenure Rank

Oct 17, 2011

10.63

10.6%

Bob Miller, Managing Director, is head of Americas Fundamental Fixed Income within BlackRock's Global Fixed Income group and a member of the Global Fixed Income Executive Committee. He is a portfolio manager of BlackRock's Core Bond, Total Return, and Strategic Income Opportunities Funds. Prior to joining BlackRock in 2011, Mr. Miller was a co-founder and partner at the Round Table Investment Management Company, a multi-strategy, research-based investment company, where he managed a global macro strategy. Previously, Mr. Miller spent 20 years at Bank of America, where he served in a variety

David Rogal

Start Date

Tenure

Tenure Rank

Jan 27, 2017

5.34

5.3%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.77 1.16

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