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BlackRock Floating Rate Income Portfolio
mutual fund
BFRKX
Payout Change
Pending
Price as of:
$9.69
+0.0
+0.0%
primary theme
Bank Loan
share class
BFRKX (Mutual Fund)
BlackRock Floating Rate Income Portfolio
Payout Change
Pending
Price as of:
$9.69
+0.0
+0.0%
primary theme
Bank Loan
share class
BFRKX (Mutual Fund)
BlackRock Floating Rate Income Portfolio
Payout Change
Pending
Price as of:
$9.69
+0.0
+0.0%
primary theme
Bank Loan
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
7.3%
1 yr return
10.0%
3 Yr Avg Return
6.1%
5 Yr Avg Return
5.4%
Net Assets
$4.4 B
Holdings in Top 10
20.2%
52 WEEK LOW AND HIGH
$9.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.62%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 47.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000,000
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
BFRKX - Profile
Distributions
- YTD Total Return 7.3%
- 3 Yr Annualized Total Return 6.1%
- 5 Yr Annualized Total Return 5.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.68%
- Dividend Yield 8.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameBlackRock Floating Rate Income Portfolio
-
Fund Family NameBlackRock-advised Funds
-
Inception DateSep 17, 2018
-
Shares Outstanding216945621
-
Share ClassK
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJames Keenan
Fund Description
The Fund normally invests at least 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the Fund to achieve a floating rate of income. These investments may include, but are not limited to, any combination of the following securities: (i) senior secured floating rate loans or debt; (ii) second lien or other subordinated or unsecured floating rate loans or debt; and (iii) fixed-rate loans or debt with respect to which the Fund has entered into derivative instruments to effectively convert the fixed-rate interest payments into floating rate interest payments. The Fund may also purchase, without limitation, participations or assignments in senior floating rate loans or second lien floating rate loans.
For purposes of the Fund’s investments, the term debt includes investments in convertible or preferred securities.
The Fund may invest in investments of any credit quality without limitation, including investments rated below investment grade. The Fund anticipates that, under current market conditions, a substantial portion of its portfolio will consist of leveraged loans rated below investment grade and similar investments. These investments are expected to exhibit credit risks similar to high yield securities, which are commonly referred to as “junk bonds.”
The Fund may invest up to 20% of its assets in fixed income securities with respect to which the Fund has not entered into derivative instruments to effectively convert the fixed-rate interest payments into floating-rate interest payments. Such fixed income securities include, but are not limited to, corporate bonds, preferred securities, convertible securities, mezzanine investments, collateralized loan obligations, senior loans, second lien loans, structured products and U.S. government debt securities.
The Fund’s investments in any floating rate and fixed income securities may be of any duration or maturity. The Fund may invest in securities of foreign issuers, including issuers located in emerging markets, without limitation. The Fund may also invest up to 15% of its net assets in illiquid investments.
The Fund may also invest in companies whose financial condition is uncertain, where the borrower has defaulted in the payment of interest or principal or in the performance of its covenants or agreements, or that may be involved in bankruptcy proceedings, reorganizations or financial restructurings.
The Fund may invest up to 10% of its assets in common stocks or other equity securities. In addition, the Fund may acquire and hold such securities (or rights to acquire such securities) in unit offerings with fixed income securities, in connection with an amendment, waiver, conversion or exchange of fixed income securities, in connection with the bankruptcy or workout of a distressed fixed income security, or upon the exercise of a right or warrant obtained on account of a fixed income security.
The Fund may buy or sell options or futures on a security or an index of securities, buy or sell options on futures or enter into credit default swaps and interest rate or foreign currency transactions, including swaps and forward contracts (collectively, commonly known as derivatives). The Fund may use derivatives for hedging purposes, but is not required to, as well as to increase the total return on its portfolio investments.
BFRKX - Performance
Return Ranking - Trailing
| Period | BFRKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.3% | -3.0% | 10.3% | 26.22% |
| 1 Yr | 10.0% | -4.1% | 15.2% | 28.09% |
| 3 Yr | 6.1%* | -6.2% | 8.2% | 16.86% |
| 5 Yr | 5.4%* | -6.2% | 38.2% | 15.23% |
| 10 Yr | N/A* | -2.0% | 19.7% | 34.13% |
* Annualized
Return Ranking - Calendar
| Period | BFRKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.2% | -12.0% | 11.1% | 44.40% |
| 2022 | -5.3% | -22.9% | 5.1% | 8.43% |
| 2021 | 0.7% | -12.2% | 11.1% | 70.20% |
| 2020 | -1.7% | -14.1% | 289.8% | 26.12% |
| 2019 | 3.6% | -8.1% | 7.5% | 21.85% |
Total Return Ranking - Trailing
| Period | BFRKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.3% | -3.0% | 10.3% | 26.22% |
| 1 Yr | 10.0% | -4.1% | 15.2% | 28.09% |
| 3 Yr | 6.1%* | -6.2% | 8.2% | 16.86% |
| 5 Yr | 5.4%* | -6.2% | 38.2% | 15.23% |
| 10 Yr | N/A* | -2.0% | 19.7% | 32.06% |
* Annualized
Total Return Ranking - Calendar
| Period | BFRKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.5% | -12.0% | 22.1% | 48.88% |
| 2022 | -0.1% | -22.9% | 5.1% | 5.75% |
| 2021 | 4.6% | -10.2% | 11.1% | 55.69% |
| 2020 | 2.9% | -14.1% | 306.9% | 20.41% |
| 2019 | 8.4% | -3.6% | 10.5% | 31.09% |
NAV & Total Return History
BFRKX - Holdings
Concentration Analysis
| BFRKX | Category Low | Category High | BFRKX % Rank | |
|---|---|---|---|---|
| Net Assets | 4.4 B | 29.9 M | 13.5 B | 11.07% |
| Number of Holdings | 485 | 2 | 1977 | 25.77% |
| Net Assets in Top 10 | 891 M | -191 M | 2.37 B | 6.15% |
| Weighting of Top 10 | 20.24% | 5.2% | 100.7% | 24.71% |
Top 10 Holdings
- BlackRock Liquidity Funds, T-Fund, Institutional Class 12.95%
- Invesco Senior Loan ETF 1.12%
- Dun Bradstreet Corp. (The), Term Loan B2 0.97%
- Cloud Software Group, Inc., Term Loan 0.91%
- Alliant Holdings Intermediate LLC, Term Loan B6 0.74%
- Polaris Newco LLC, 1st Lien Term Loan 0.73%
- Husky Injection Molding Systems Ltd., Term Loan 0.71%
- Fertitta Entertainment LLC, Term Loan B 0.70%
- Medline Borrower LP, Term Loan 0.70%
- TK Elevator Midco GmbH, Facility Term Loan B2 0.70%
Asset Allocation
| Weighting | Return Low | Return High | BFRKX % Rank | |
|---|---|---|---|---|
| Bonds | 87.19% | 0.00% | 161.82% | 92.69% |
| Cash | 13.14% | -61.90% | 16.36% | 1.15% |
| Stocks | 0.32% | 0.00% | 100.74% | 70.38% |
| Other | 0.22% | -52.39% | 34.87% | 35.38% |
| Convertible Bonds | 0.07% | 0.00% | 5.51% | 39.53% |
| Preferred Stocks | 0.00% | -3.99% | 7.30% | 68.08% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BFRKX % Rank | |
|---|---|---|---|---|
| Energy | 74.60% | 0.00% | 100.00% | 13.91% |
| Industrials | 24.75% | 0.00% | 100.00% | 6.96% |
| Consumer Cyclical | 0.34% | 0.00% | 97.66% | 26.96% |
| Technology | 0.31% | 0.00% | 100.00% | 13.04% |
| Utilities | 0.00% | 0.00% | 100.00% | 58.26% |
| Real Estate | 0.00% | 0.00% | 48.61% | 49.57% |
| Healthcare | 0.00% | 0.00% | 100.00% | 49.57% |
| Financial Services | 0.00% | 0.00% | 89.61% | 50.43% |
| Communication Services | 0.00% | 0.00% | 100.00% | 78.26% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 61.74% |
| Basic Materials | 0.00% | 0.00% | 1.36% | 50.43% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BFRKX % Rank | |
|---|---|---|---|---|
| US | 0.32% | -0.01% | 100.74% | 68.08% |
| Non US | 0.00% | 0.00% | 0.68% | 61.92% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | BFRKX % Rank | |
|---|---|---|---|---|
| Corporate | 89.08% | 0.00% | 99.80% | 52.71% |
| Cash & Equivalents | 13.14% | 0.00% | 25.03% | 1.15% |
| Derivative | 0.22% | -10.96% | 0.85% | 16.92% |
| Securitized | 0.00% | 0.00% | 91.68% | 76.36% |
| Municipal | 0.00% | 0.00% | 0.47% | 54.65% |
| Government | 0.00% | 0.00% | 3.18% | 63.57% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | BFRKX % Rank | |
|---|---|---|---|---|
| US | 87.10% | 0.00% | 123.41% | 71.54% |
| Non US | 0.09% | 0.00% | 63.23% | 43.85% |
BFRKX - Expenses
Operational Fees
| BFRKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.62% | 0.03% | 5.51% | 96.63% |
| Management Fee | 0.49% | 0.00% | 1.89% | 12.36% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.06% | 0.02% | 0.27% | 20.00% |
Sales Fees
| BFRKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| BFRKX 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.
| BFRKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 47.00% | 4.00% | 180.00% | 35.51% |
BFRKX - Distributions
Dividend Yield Analysis
| BFRKX | Category Low | Category High | BFRKX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 8.12% | 0.00% | 11.13% | 85.45% |
Dividend Distribution Analysis
| BFRKX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| BFRKX | Category Low | Category High | BFRKX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.68% | 1.77% | 9.82% | 43.36% |
Capital Gain Distribution Analysis
| BFRKX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.066 | OrdinaryDividend |
| Aug 30, 2024 | $0.068 | OrdinaryDividend |
| Jul 31, 2024 | $0.068 | OrdinaryDividend |
| Apr 30, 2024 | $0.069 | OrdinaryDividend |
| Mar 31, 2024 | $0.072 | OrdinaryDividend |
| Feb 29, 2024 | $0.070 | OrdinaryDividend |
| Jan 31, 2024 | $0.072 | OrdinaryDividend |
| Dec 29, 2023 | $0.074 | OrdinaryDividend |
| Nov 30, 2023 | $0.072 | OrdinaryDividend |
| Oct 31, 2023 | $0.073 | OrdinaryDividend |
| Sep 29, 2023 | $0.070 | OrdinaryDividend |
| Aug 31, 2023 | $0.072 | OrdinaryDividend |
| Jul 31, 2023 | $0.071 | OrdinaryDividend |
| Jun 30, 2023 | $0.005 | OrdinaryDividend |
| May 31, 2023 | $0.074 | OrdinaryDividend |
| Apr 28, 2023 | $0.066 | OrdinaryDividend |
| Mar 31, 2023 | $0.069 | OrdinaryDividend |
| Feb 28, 2023 | $0.061 | OrdinaryDividend |
| Jan 31, 2023 | $0.061 | OrdinaryDividend |
| Dec 30, 2022 | $0.060 | OrdinaryDividend |
| Nov 30, 2022 | $0.056 | OrdinaryDividend |
| Oct 31, 2022 | $0.053 | OrdinaryDividend |
| Sep 30, 2022 | $0.047 | OrdinaryDividend |
| Aug 31, 2022 | $0.045 | OrdinaryDividend |
| Jul 29, 2022 | $0.042 | OrdinaryDividend |
| Jun 30, 2022 | $0.035 | OrdinaryDividend |
| May 31, 2022 | $0.034 | OrdinaryDividend |
| Apr 29, 2022 | $0.031 | OrdinaryDividend |
| Mar 31, 2022 | $0.031 | OrdinaryDividend |
| Feb 28, 2022 | $0.026 | OrdinaryDividend |
| Jan 31, 2022 | $0.027 | OrdinaryDividend |
| Dec 31, 2021 | $0.028 | OrdinaryDividend |
| Nov 30, 2021 | $0.026 | OrdinaryDividend |
| Oct 29, 2021 | $0.028 | OrdinaryDividend |
| Sep 30, 2021 | $0.029 | OrdinaryDividend |
| Aug 31, 2021 | $0.029 | OrdinaryDividend |
| Jul 30, 2021 | $0.029 | OrdinaryDividend |
| Jun 30, 2021 | $0.029 | OrdinaryDividend |
| May 28, 2021 | $0.030 | OrdinaryDividend |
| Apr 30, 2021 | $0.029 | OrdinaryDividend |
| Mar 31, 2021 | $0.030 | OrdinaryDividend |
| Feb 26, 2021 | $0.027 | OrdinaryDividend |
| Jan 29, 2021 | $0.030 | OrdinaryDividend |
| Dec 31, 2020 | $0.032 | OrdinaryDividend |
| Dec 23, 2020 | $0.008 | OrdinaryDividend |
| Nov 30, 2020 | $0.031 | OrdinaryDividend |
| Oct 30, 2020 | $0.032 | OrdinaryDividend |
| Sep 30, 2020 | $0.029 | OrdinaryDividend |
| Aug 31, 2020 | $0.029 | OrdinaryDividend |
| Jul 31, 2020 | $0.031 | OrdinaryDividend |
| Jun 30, 2020 | $0.030 | OrdinaryDividend |
| May 29, 2020 | $0.033 | OrdinaryDividend |
| Apr 30, 2020 | $0.036 | OrdinaryDividend |
| Mar 31, 2020 | $0.040 | OrdinaryDividend |
| Feb 28, 2020 | $0.035 | OrdinaryDividend |
| Jan 31, 2020 | $0.037 | OrdinaryDividend |
| Dec 31, 2019 | $0.037 | OrdinaryDividend |
| Nov 29, 2019 | $0.036 | OrdinaryDividend |
| Oct 31, 2019 | $0.039 | OrdinaryDividend |
| Sep 30, 2019 | $0.039 | OrdinaryDividend |
| Aug 30, 2019 | $0.041 | OrdinaryDividend |
| Jul 31, 2019 | $0.044 | OrdinaryDividend |
| Dec 21, 2018 | $0.003 | CapitalGainShortTerm |
BFRKX - Fund Manager Analysis
Managers
James Keenan
Start Date
Tenure
Tenure Rank
Jul 07, 2010
11.91
11.9%
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
Aug 31, 2018
3.75
3.8%
Managing Director of BlackRock, Inc. since 2009 and Co-Head of U.S. Leveraged Finance; Director of BlackRock, Inc. from 2005 to 2008.
Carly Wilson
Start Date
Tenure
Tenure Rank
Aug 31, 2018
3.75
3.8%
Carly Wilson, Director, is a portfolio manager on the Global Long Short Credit team. Before this role, she was a portfolio manager on the Leveraged Finance Credit Team responsible for managing Bank Loan strategies. Prior to joining BlackRock in 2009, Ms. Wilson was an Associate and trader in the US Leveraged Loans group at R3 Capital Partners. Previously, she was with Lehman Brothers for four years, most recently in the Global Principal Strategies team. Earlier, she was in Lehman Brothers' Equity and Capital Structure Arbitrage Group. Ms. Wilson earned a BS degree in economics from the University of Pennsylvania Wharton School of Business in 2004.
Matthew Maxwell
Start Date
Tenure
Tenure Rank
Aug 31, 2018
3.75
3.8%
Director of BlackRock, Inc. since 2016; Executive Director at Morgan Stanley from 2014 to 2016; Vice President at Morgan Stanley from 2011 to 2014.
Abigail Apistolas
Start Date
Tenure
Tenure Rank
Aug 31, 2018
3.75
3.8%
Vice President of BlackRock, Inc. since 2018;; Associate of BlackRock, Inc. since 2016; Associate at Morgan Stanley from 2014 to 2016; Analyst at Morgan Stanley from 2012 to 2014.
David Delbos
Start Date
Tenure
Tenure Rank
Aug 31, 2018
3.75
3.8%
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 |
|---|---|---|---|
| 0.09 | 21.18 | 6.06 | 3.25 |
