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Trending ETFs

BATS SERIES S

mutual fund
BRASX
Payout Change
Pending
Price as of:
$9.23 -0.03 -0.32%
primary theme
U.S. Short-Term Bond Duration
share class
S (BRASX)
BRASX (Mutual Fund)

BATS SERIES S

Payout Change
Pending
Price as of:
$9.23 -0.03 -0.32%
primary theme
U.S. Short-Term Bond Duration
share class
S (BRASX)
BRASX (Mutual Fund)

BATS SERIES S

Payout Change
Pending
Price as of:
$9.23 -0.03 -0.32%
primary theme
U.S. Short-Term Bond Duration
share class
S (BRASX)

Name

As of 10/04/2024

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

BATS SERIES S

BRASX | Fund

$9.23

$389 M

4.94%

$0.46

0.13%

Vitals

YTD Return

5.2%

1 yr return

8.2%

3 Yr Avg Return

2.0%

5 Yr Avg Return

2.2%

Net Assets

$389 M

Holdings in Top 10

21.5%

52 WEEK LOW AND HIGH

$9.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.13%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 68.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 10/04/2024

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

BATS SERIES S

BRASX | Fund

$9.23

$389 M

4.94%

$0.46

0.13%

BRASX - Profile

Distributions

  • YTD Total Return 5.2%
  • 3 Yr Annualized Total Return 2.0%
  • 5 Yr Annualized Total Return 2.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.42%
DIVIDENDS
  • Dividend Yield 4.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BATS SERIES S
  • Fund Family Name
    BlackRock-Advised Funds
  • Inception Date
    Oct 29, 2004
  • Shares Outstanding
    N/A
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Heilbronn

Fund Description

In pursuit of the investment objective, the Fund will principally invest in the following securities:
◼
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 (the “World Bank”), 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.
Under normal circumstances, the Fund invests at least 80% of its total assets in fixed-income instruments. This 80% policy is a non-fundamental policy of the Fund and may not be changed without 60 days’ prior notice to shareholders.
The management team evaluates sectors of the bond market and individual securities within these sectors. The management team may, when consistent with the Fund’s investment objective, buy or sell options or futures on a security or an index of securities, or enter into interest rate or foreign currency transactions, including swaps (collectively, commonly known as derivatives).
The Fund may only buy securities that are rated investment grade at the time of purchase by at least one major rating agency or, if unrated, determined by the management team to be of similar quality.
Under normal circumstances, the Fund seeks to maintain an average portfolio duration of zero to three years. Duration is a mathematical calculation of the average life of a bond (or bonds in a bond fund) that serves as a useful measure of its price risk. Each year of duration represents an expected 1% change in the net asset value of a bond fund for every 1% immediate change in interest rates. For example, if a bond fund has an average duration of ten years, its net asset value would be expected to fall about 10% when interest rates rise by one percentage point, assuming all other factors remain equal. Conversely, the bond fund’s net asset value would be expected to rise about 10% when interest rates fall by one percentage point, assuming all other factors remain equal. Duration, which measures price sensitivity to interest rate changes, is not necessarily equal to average maturity.
The Fund may engage in active and frequent trading of portfolio instruments to achieve its investment objective.
Read More

BRASX - Performance

Return Ranking - Trailing

Period BRASX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.2% 2.9% 16.1% 46.01%
1 Yr 8.2% 4.7% 25.9% 57.98%
3 Yr 2.0%* -5.0% 4.5% 27.27%
5 Yr 2.2%* -3.5% 5.1% 27.05%
10 Yr 1.0%* -18.9% 170.5% 89.46%

* Annualized

Return Ranking - Calendar

Period BRASX Return Category Return Low Category Return High Rank in Category (%)
2023 1.8% -1.6% 7.6% 52.86%
2022 -6.8% -17.7% -2.6% 41.17%
2021 -1.4% -4.0% 4.4% 34.93%
2020 1.1% -7.1% 7.6% 78.98%
2019 3.0% -2.3% 9.3% 19.41%

Total Return Ranking - Trailing

Period BRASX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.2% 2.9% 16.1% 46.01%
1 Yr 8.2% 4.7% 25.9% 57.98%
3 Yr 2.0%* -5.0% 4.5% 27.27%
5 Yr 2.2%* -3.5% 5.1% 27.05%
10 Yr 1.0%* -18.9% 170.5% 89.46%

* Annualized

Total Return Ranking - Calendar

Period BRASX Return Category Return Low Category Return High Rank in Category (%)
2023 6.3% 1.8% 15.2% 28.05%
2022 -3.8% -17.3% -1.3% 23.50%
2021 0.3% -2.7% 7.7% 36.73%
2020 4.2% -2.4% 14.5% 50.61%
2019 4.7% 0.6% 12.6% 48.10%

NAV & Total Return History

BRASX - Holdings

Concentration Analysis

BRASX Category Low Category High BRASX % Rank
Net Assets 389 M 14.5 K 57.3 B 75.48%
Number of Holdings 613 2 8314 34.79%
Net Assets in Top 10 83 M 1.02 M 7.47 B 74.52%
Weighting of Top 10 21.52% 1.9% 112.6% 60.27%

Top 10 Holdings

  1. United States Treasury Note/Bond 6.69%
  2. United States Treasury Note/Bond 2.88%
  3. United States Treasury Note/Bond 2.53%
  4. United States Treasury Note/Bond 2.07%
  5. Fannie Mae or Freddie Mac 2.01%
  6. BA Credit Card Trust 1.19%
  7. American Express Credit Account Master Trust 1.11%
  8. Federal National Mortgage Association 1.10%
  9. United States Treasury Note/Bond 1.04%
  10. American Express Credit Account Master Trust 0.91%

Asset Allocation

Weighting Return Low Return High BRASX % Rank
Bonds 		77.01% 0.00% 131.20% 71.86%
Other 		24.17% -0.97% 71.57% 12.55%
Convertible Bonds 		2.13% 0.00% 27.71% 52.38%
Cash 		0.42% -20.59% 71.38% 83.84%
Stocks 		0.00% 0.00% 99.91% 27.57%
Preferred Stocks 		0.00% 0.00% 24.12% 24.90%

Bond Sector Breakdown

Weighting Return Low Return High BRASX % Rank
Securitized 		45.72% 0.00% 97.27% 13.14%
Corporate 		32.78% 0.00% 99.82% 62.29%
Government 		18.40% 0.00% 73.63% 48.00%
Cash & Equivalents 		0.42% 0.00% 71.38% 73.19%
Municipal 		0.00% 0.00% 14.41% 56.76%
Derivative 		-0.08% -0.44% 27.90% 91.63%

Bond Geographic Breakdown

Weighting Return Low Return High BRASX % Rank
US 		75.90% 0.00% 131.20% 72.43%
Non US 		1.10% 0.00% 82.20% 10.46%

BRASX - Expenses

Operational Fees

BRASX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.13% 0.01% 3.24% 95.04%
Management Fee 0.00% 0.00% 1.19% 0.57%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.41% 2.08%

Sales Fees

BRASX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 4.00% N/A

Trading Fees

BRASX 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.

BRASX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 68.00% 2.00% 500.00% 44.42%

BRASX - Distributions

Dividend Yield Analysis

BRASX Category Low Category High BRASX % Rank
Dividend Yield 4.94% 0.00% 11.11% 22.43%

Dividend Distribution Analysis

BRASX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

BRASX Category Low Category High BRASX % Rank
Net Income Ratio 1.42% -1.27% 4.98% 35.01%

Capital Gain Distribution Analysis

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

Distributions History

View More +

BRASX - Fund Manager Analysis

Managers

Michael Heilbronn

Start Date

Tenure

Tenure Rank

Nov 14, 2012

9.55

9.6%

Michael Heilbronn, Director, is a member of the Core PM SMA Team in Princeton for BlackRock's Managed Account business within Multi-Asset Strategies (MAS). In this capacity, he is responsible for managing mid-sized institutional taxable bond portfolios. Additionally, Mr. Heilbronn is part of a liaison team that coordinates the SMA fixed income portfolio strategy and credit research with the rest of the firm. He works closely with each group to facilitate idea sharing and trade ideas across portfolios. Mr. Heilbronn's service with the firm dates back to 1998, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, he was a product specialist for the firm's entire range of fixed income portfolios, and also served as an associate asset management advisor. Mr. Heilbronn joined MLIM in 2000, after working with the mutual funds marketing team at the Merrill Lynch Private Client Group for two years. Mr. Heilbronn earned a BS degree from the Pennsylvania State University in 1998.

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
0.07 28.77 6.19 2.41

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