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BATS SERIES P
mutual fund
BATPX
Payout Change
Pending
Price as of:
$10.65
+0.01
+0.09%
primary theme
Bond Sector Diversified
share class
BATPX (Mutual Fund)
BATS SERIES P
Payout Change
Pending
Price as of:
$10.65
+0.01
+0.09%
primary theme
Bond Sector Diversified
share class
BATPX (Mutual Fund)
BATS SERIES P
Payout Change
Pending
Price as of:
$10.65
+0.01
+0.09%
primary theme
Bond Sector Diversified
share class
Name
As of 10/11/2024Price
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
Vitals
YTD Return
7.1%
1 yr return
2.4%
3 Yr Avg Return
9.9%
5 Yr Avg Return
5.4%
Net Assets
$13.1 M
Holdings in Top 10
31.1%
52 WEEK LOW AND HIGH
$10.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.87%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 0.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
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
BATPX - Profile
Distributions
- YTD Total Return 7.1%
- 3 Yr Annualized Total Return 9.9%
- 5 Yr Annualized Total Return 5.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.45%
- Dividend Yield 0.0%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameBATS SERIES P
-
Fund Family NameBlackRock-Advised Funds
-
Inception DateMar 20, 2013
-
Shares OutstandingN/A
-
Share ClassP
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerScott MacLellan
Fund Description
The Fund is intended to be used as part of a broader separately managed account program administered directly by BlackRock. The performance and objectives of the Fund should be evaluated only in the context of the investor’s complete investment program. The Fund is not designed to be used as a stand-alone investment.
The Fund may invest in a portfolio of securities and other financial instruments, including derivative instruments, in an attempt to provide returns that are the inverse of its benchmark index, the Bloomberg U.S. Treasury 7-10 Year Bond Index. The Fund’s return is intended to move in the opposite direction of the return of a traditional fixed-income fund. Unlike a traditional fixed-income fund, the value of the Fund is expected to move in the same direction as that of interest rates. The value of a traditional fixed-income fund generally drops as interest rates rise, however, it is expected that the Fund will provide positive returns in a rising interest rate environment. Under normal circumstances, the Fund maintains an average portfolio duration that is within ±20% of the inverse duration of its benchmark, as calculated by BlackRock. As of June 30, 2024, the average duration of the Fund’s benchmark was -6.75 years, as calculated by BlackRock.
The Fund will seek to pursue its investment objective primarily by engaging in short sales of U.S. Treasury securities and by investing in derivative instruments that provide returns that are inverse to those available by investing directly in U.S. Treasury securities. Derivative instruments that the Fund may invest in include, but are not limited to, futures (including U.S. Treasury futures), options, forward contracts and/or swaps, including interest rate swaps, swaptions and total return swaps.
The Fund may also invest significantly in a variety of short-term fixed-income instruments, including, but not limited to, U.S. government securities, U.S. government agency securities, securities issued by U.S. government-sponsored enterprises and U.S. government instrumentalities, investment grade corporate bonds or bonds determined by Fund management to be of similar quality, asset-backed securities and mortgage-backed securities. The Fund will invest in these short-term fixed-income instruments in order to generate income to cover some or all of the costs associated with the Fund’s derivative positions. A significant portion of the Fund’s total assets will be invested in cash and cash equivalents and held by the Fund in connection with its derivative positions. The Fund will also invest a significant portion of its total assets in cash and cash equivalents to use for margin requirements for its derivative positions.
The Fund may invest in other investment companies, such as exchange-traded funds, unit investment trusts, and open-end and closed-end funds, including affiliated investment companies and affiliated and unaffiliated money market funds. As of the date of this prospectus, the Fund intends to invest a significant portion of its assets in the BATS: Series S Portfolio (the “BATS-S”). The investment objective of BATS-S is to seek to maximize total return, consistent with income generation and prudent investment management. In pursuit of its investment objective, BATS-S principally invests in commercial and residential mortgage-backed securities; obligations of non-U.S. governments and supra-national organizations, such as the International Bank for Reconstruction and Development, which are chartered to promote economic development; obligations of domestic and non-U.S. corporations; asset-backed securities; collateralized mortgage obligations; U.S. Treasury and agency securities; when-issued and delayed delivery securities; derivatives; cash equivalent investments; repurchase agreements and reverse repurchase agreements; and dollar rolls.
The Fund may engage in active and frequent trading of portfolio instruments to achieve its investment objective.
BATPX - Performance
Return Ranking - Trailing
| Period | BATPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.1% | -8.0% | 15.2% | 22.82% |
| 1 Yr | 2.4% | -3.9% | 28.8% | 99.23% |
| 3 Yr | 9.9%* | -16.8% | 16.5% | 1.10% |
| 5 Yr | 5.4%* | -14.1% | 14.3% | 4.14% |
| 10 Yr | 1.9%* | -6.9% | 6.9% | 78.55% |
* Annualized
Return Ranking - Calendar
| Period | BATPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -0.2% | -12.0% | 15.7% | 87.61% |
| 2022 | 18.4% | -31.8% | 18.4% | 0.16% |
| 2021 | 2.9% | -16.2% | 25.7% | 3.89% |
| 2020 | -7.5% | -31.1% | 18.7% | 93.84% |
| 2019 | -6.1% | -6.1% | 15.3% | 100.00% |
Total Return Ranking - Trailing
| Period | BATPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.1% | -8.0% | 15.2% | 22.82% |
| 1 Yr | 2.4% | -3.9% | 28.8% | 99.23% |
| 3 Yr | 9.9%* | -16.8% | 16.5% | 1.10% |
| 5 Yr | 5.4%* | -14.1% | 14.3% | 4.14% |
| 10 Yr | 1.9%* | -6.9% | 6.9% | 78.55% |
* Annualized
Total Return Ranking - Calendar
| Period | BATPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.3% | -6.9% | 22.2% | 87.92% |
| 2022 | 19.7% | -31.8% | 21.1% | 0.78% |
| 2021 | 2.9% | -13.5% | 49.9% | 33.87% |
| 2020 | -7.5% | -28.6% | 24.1% | 97.54% |
| 2019 | -4.8% | -4.8% | 19.1% | 100.00% |
NAV & Total Return History
BATPX - Holdings
Concentration Analysis
| BATPX | Category Low | Category High | BATPX % Rank | |
|---|---|---|---|---|
| Net Assets | 13.1 M | 2.53 M | 143 B | 98.58% |
| Number of Holdings | 15 | 4 | 9195 | 93.98% |
| Net Assets in Top 10 | 1.65 M | -204 M | 80.4 B | 99.85% |
| Weighting of Top 10 | 31.12% | 6.2% | 209.5% | 41.21% |
Top 10 Holdings
- SERIES S PORTFOLIO 25.46%
- IRS USD 4.11%
- IRS USD 1.25%
- IRS USD 0.28%
- IRS USD 0.20%
- IRS USD 0.12%
- US 5 YEAR TREASURY NOTE 0.02%
- US 2YR NOTE (CBT) -0.03%
- IRS USD -0.12%
- IRS USD -0.19%
Asset Allocation
| Weighting | Return Low | Return High | BATPX % Rank | |
|---|---|---|---|---|
| Cash | 75.37% | -94.66% | 91.07% | 0.31% |
| Stocks | 25.46% | -4.92% | 99.66% | 11.11% |
| Convertible Bonds | 0.40% | 0.00% | 33.50% | 67.83% |
| Preferred Stocks | 0.00% | 0.00% | 26.42% | 67.13% |
| Bonds | 0.00% | 0.00% | 192.97% | 94.75% |
| Other | -0.84% | -73.61% | 112.16% | 93.98% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BATPX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | N/A |
| Technology | 0.00% | 0.00% | 28.30% | N/A |
| Real Estate | 0.00% | 0.00% | 100.00% | N/A |
| Industrials | 0.00% | 0.00% | 100.00% | N/A |
| Healthcare | 0.00% | 0.00% | 18.60% | N/A |
| Financial Services | 0.00% | 0.00% | 100.00% | N/A |
| Energy | 0.00% | 0.00% | 100.00% | N/A |
| Communication Services | 0.00% | 0.00% | 100.00% | N/A |
| Consumer Defense | 0.00% | 0.00% | 99.97% | N/A |
| Consumer Cyclical | 0.00% | 0.00% | 89.95% | N/A |
| Basic Materials | 0.00% | 0.00% | 100.00% | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BATPX % Rank | |
|---|---|---|---|---|
| US | 25.46% | -4.84% | 99.66% | 11.11% |
| Non US | 0.00% | -0.26% | 17.73% | 56.33% |
BATPX - Expenses
Operational Fees
| BATPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.87% | 0.03% | 20.67% | 70.00% |
| Management Fee | 0.00% | 0.00% | 2.29% | 1.07% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.70% | 0.68% |
Sales Fees
| BATPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.50% | N/A |
Trading Fees
| BATPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 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.
| BATPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 0.00% | 0.00% | 632.00% | 0.37% |
BATPX - Distributions
Dividend Yield Analysis
| BATPX | Category Low | Category High | BATPX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 23.30% | 71.87% |
Dividend Distribution Analysis
| BATPX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
| BATPX | Category Low | Category High | BATPX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.45% | -1.55% | 11.51% | 96.08% |
Capital Gain Distribution Analysis
| BATPX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 28, 2023 | $0.443 | OrdinaryDividend |
| Dec 29, 2022 | $0.109 | OrdinaryDividend |
| Dec 30, 2019 | $0.116 | OrdinaryDividend |
| Dec 28, 2018 | $0.090 | OrdinaryDividend |
| Dec 28, 2017 | $0.029 | OrdinaryDividend |
| Jul 20, 2017 | $0.023 | OrdinaryDividend |
BATPX - Fund Manager Analysis
Managers
Scott MacLellan
Start Date
Tenure
Tenure Rank
Oct 15, 2020
1.62
1.6%
Scott MacLellan, CFA, Director, is a portfolio manager on the Short Duration team within the BlackRock Multi-Sector Fixed Income Portfolio Management Group. Prior to assuming his current responsibilities in 2008, Mr. MacLellan was a member of the Global Client Group, focused on Japanese clients. He also served as a product specialist for short duration and LIBOR-benchmarked fixed income products. Previously, Mr. MacLellan spent four years with Nomura BlackRock Asset Management (NBAM), a former joint venture between BlackRock and Nomura Asset Management Co., Ltd, in Tokyo as an account manager. Prior to joining NBAM in 2001, Mr. MacLellan spent a year in the Global Finance and Investment Department of IBJ Leasing in Tokyo. Mr. MacLellan earned a BS degree, with honors, in economics and international development studies from King's College in 1997.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 28.19 | 5.72 | 3.19 |
