Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
BlackRock Total Return Fund
mutual fund
MDHQX
Payout Change
Pending
Price as of:
$9.89
-0.05
-0.5%
primary theme
U.S. Intermediate-Term Bond Duration
share class
MDHQX (Mutual Fund)
BlackRock Total Return Fund
Payout Change
Pending
Price as of:
$9.89
-0.05
-0.5%
primary theme
U.S. Intermediate-Term Bond Duration
share class
MDHQX (Mutual Fund)
BlackRock Total Return Fund
Payout Change
Pending
Price as of:
$9.89
-0.05
-0.5%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Name
As of 12/12/2024Price
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
2.9%
1 yr return
3.1%
3 Yr Avg Return
-2.5%
5 Yr Avg Return
-0.1%
Net Assets
$20 B
Holdings in Top 10
16.9%
52 WEEK LOW AND HIGH
$9.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.75%
SALES FEES
Front Load 4.00%
Deferred Load N/A
TRADING FEES
Turnover 459.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/12/2024Price
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
MDHQX - Profile
Distributions
- YTD Total Return 2.9%
- 3 Yr Annualized Total Return -2.5%
- 5 Yr Annualized Total Return -0.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.58%
- Dividend Yield 4.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameBlackRock Total Return Fund
-
Fund Family NameBlackRock-advised Funds
-
Inception DateMar 09, 1995
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRick 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.
MDHQX - Performance
Return Ranking - Trailing
| Period | MDHQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.9% | -4.6% | 11.7% | 49.43% |
| 1 Yr | 3.1% | -2.4% | 15.0% | 61.87% |
| 3 Yr | -2.5%* | -10.0% | 28.5% | 68.80% |
| 5 Yr | -0.1%* | -7.2% | 58.8% | 58.59% |
| 10 Yr | 1.4%* | -2.8% | 74.0% | 53.07% |
* Annualized
Return Ranking - Calendar
| Period | MDHQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.6% | -16.2% | 8.1% | 70.89% |
| 2022 | -16.6% | -34.7% | 131.9% | 69.89% |
| 2021 | -3.1% | -11.6% | 4.4% | 37.82% |
| 2020 | 2.4% | -9.9% | 946.1% | 79.75% |
| 2019 | 6.4% | -1.7% | 16.9% | 22.45% |
Total Return Ranking - Trailing
| Period | MDHQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.9% | -4.6% | 11.7% | 49.43% |
| 1 Yr | 3.1% | -2.4% | 15.0% | 61.87% |
| 3 Yr | -2.5%* | -10.0% | 28.5% | 68.80% |
| 5 Yr | -0.1%* | -7.2% | 58.8% | 58.59% |
| 10 Yr | 1.4%* | -2.8% | 74.0% | 53.07% |
* Annualized
Total Return Ranking - Calendar
| Period | MDHQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.0% | -11.3% | 11.9% | 52.91% |
| 2022 | -14.4% | -32.2% | 131.9% | 74.89% |
| 2021 | -0.9% | -9.4% | 9.2% | 46.72% |
| 2020 | 8.8% | -1.9% | 1009.0% | 38.67% |
| 2019 | 9.9% | 1.1% | 21668.0% | 22.33% |
NAV & Total Return History
MDHQX - Holdings
Concentration Analysis
| MDHQX | Category Low | Category High | MDHQX % Rank | |
|---|---|---|---|---|
| Net Assets | 20 B | 2.9 M | 314 B | 11.71% |
| Number of Holdings | 4427 | 1 | 17880 | 8.20% |
| Net Assets in Top 10 | 3.39 B | 1.62 M | 35.1 B | 14.85% |
| Weighting of Top 10 | 16.92% | 4.7% | 3984.6% | 76.64% |
Top 10 Holdings
- BlackRock Liquidity Funds T-Fund 5.53%
- Fannie Mae or Freddie Mac 2.43%
- Fannie Mae or Freddie Mac 2.09%
- Fannie Mae or Freddie Mac 1.66%
- United States Treasury Note/Bond 1.52%
- Fannie Mae or Freddie Mac 0.92%
- Freddie Mac Pool 0.77%
- Fannie Mae Pool 0.71%
- United States Treasury Note/Bond 0.65%
- United Kingdom Gilt 0.62%
Asset Allocation
| Weighting | Return Low | Return High | MDHQX % Rank | |
|---|---|---|---|---|
| Bonds | 94.03% | 0.00% | 9231.88% | 56.17% |
| Cash | 5.57% | -54.51% | 237.69% | 28.45% |
| Other | 3.54% | -27.25% | 1695.17% | 55.97% |
| Convertible Bonds | 0.91% | 0.00% | 7.93% | 71.97% |
| Stocks | 0.57% | 0.00% | 99.98% | 11.71% |
| Preferred Stocks | 0.28% | 0.00% | 72.34% | 14.64% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MDHQX % Rank | |
|---|---|---|---|---|
| Real Estate | 19.84% | 0.00% | 99.26% | 6.79% |
| Technology | 17.48% | 0.00% | 43.45% | 14.20% |
| Consumer Cyclical | 15.91% | 0.00% | 100.00% | 4.32% |
| Energy | 11.31% | 0.00% | 100.00% | 35.19% |
| Financial Services | 10.58% | 0.00% | 100.00% | 32.10% |
| Communication Services | 8.53% | 0.00% | 100.00% | 17.28% |
| Industrials | 6.26% | 0.00% | 48.31% | 19.75% |
| Basic Materials | 6.08% | 0.00% | 100.00% | 11.73% |
| Healthcare | 4.00% | 0.00% | 17.70% | 14.81% |
| Utilities | 0.00% | 0.00% | 100.00% | 34.57% |
| Consumer Defense | 0.00% | 0.00% | 99.67% | 28.40% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MDHQX % Rank | |
|---|---|---|---|---|
| US | 0.57% | 0.00% | 99.98% | 11.73% |
| Non US | 0.00% | 0.00% | 88.46% | 2.70% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MDHQX % Rank | |
|---|---|---|---|---|
| Corporate | 27.75% | 0.00% | 100.00% | 58.16% |
| Securitized | 22.51% | 0.00% | 98.40% | 75.10% |
| Government | 10.01% | 0.00% | 86.23% | 85.56% |
| Cash & Equivalents | 5.57% | 0.00% | 237.69% | 28.14% |
| Municipal | 0.51% | 0.00% | 100.00% | 46.23% |
| Derivative | -0.06% | -6.56% | 44.82% | 85.36% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MDHQX % Rank | |
|---|---|---|---|---|
| US | 89.62% | 0.00% | 9042.62% | 65.42% |
| Non US | 4.41% | 0.00% | 189.26% | 10.90% |
MDHQX - Expenses
Operational Fees
| MDHQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.75% | 0.01% | 39.64% | 42.84% |
| Management Fee | 0.34% | 0.00% | 1.76% | 42.18% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 23.41% |
| Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
| MDHQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.00% | 2.00% | 5.75% | 32.59% |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| MDHQX 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.
| MDHQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 459.00% | 2.00% | 493.39% | 92.84% |
MDHQX - Distributions
Dividend Yield Analysis
| MDHQX | Category Low | Category High | MDHQX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.22% | 0.00% | 10.11% | 33.06% |
Dividend Distribution Analysis
| MDHQX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| MDHQX | Category Low | Category High | MDHQX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.58% | -1.28% | 4.79% | 57.50% |
Capital Gain Distribution Analysis
| MDHQX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.035 | OrdinaryDividend |
| Oct 31, 2024 | $0.037 | OrdinaryDividend |
| Sep 30, 2024 | $0.037 | OrdinaryDividend |
| Aug 30, 2024 | $0.038 | OrdinaryDividend |
| Jul 31, 2024 | $0.038 | OrdinaryDividend |
| Apr 30, 2024 | $0.037 | OrdinaryDividend |
| Mar 31, 2024 | $0.036 | OrdinaryDividend |
| Feb 29, 2024 | $0.033 | OrdinaryDividend |
| Jan 31, 2024 | $0.034 | OrdinaryDividend |
| Dec 29, 2023 | $0.035 | OrdinaryDividend |
| Nov 30, 2023 | $0.033 | OrdinaryDividend |
| Oct 31, 2023 | $0.032 | OrdinaryDividend |
| Sep 29, 2023 | $0.032 | OrdinaryDividend |
| Aug 31, 2023 | $0.033 | OrdinaryDividend |
| Jul 31, 2023 | $0.033 | OrdinaryDividend |
| Jun 30, 2023 | $0.033 | OrdinaryDividend |
| May 31, 2023 | $0.034 | OrdinaryDividend |
| Apr 28, 2023 | $0.031 | OrdinaryDividend |
| Mar 31, 2023 | $0.031 | OrdinaryDividend |
| Feb 28, 2023 | $0.028 | OrdinaryDividend |
| Jan 31, 2023 | $0.029 | OrdinaryDividend |
| Dec 30, 2022 | $0.029 | OrdinaryDividend |
| Nov 30, 2022 | $0.027 | OrdinaryDividend |
| Oct 31, 2022 | $0.028 | OrdinaryDividend |
| Sep 30, 2022 | $0.025 | OrdinaryDividend |
| Aug 31, 2022 | $0.027 | OrdinaryDividend |
| Jul 29, 2022 | $0.026 | OrdinaryDividend |
| Jun 30, 2022 | $0.021 | OrdinaryDividend |
| May 31, 2022 | $0.021 | OrdinaryDividend |
| Apr 29, 2022 | $0.017 | OrdinaryDividend |
| Mar 31, 2022 | $0.016 | OrdinaryDividend |
| Feb 28, 2022 | $0.014 | OrdinaryDividend |
| Jan 31, 2022 | $0.015 | OrdinaryDividend |
| Dec 31, 2021 | $0.015 | OrdinaryDividend |
| Dec 21, 2021 | $0.060 | OrdinaryDividend |
| Nov 30, 2021 | $0.015 | OrdinaryDividend |
| Oct 29, 2021 | $0.016 | OrdinaryDividend |
| Sep 30, 2021 | $0.016 | OrdinaryDividend |
| Aug 31, 2021 | $0.017 | OrdinaryDividend |
| Jun 30, 2021 | $0.017 | OrdinaryDividend |
| May 28, 2021 | $0.016 | OrdinaryDividend |
| Apr 30, 2021 | $0.017 | OrdinaryDividend |
| Mar 31, 2021 | $0.019 | OrdinaryDividend |
| Feb 26, 2021 | $0.018 | OrdinaryDividend |
| Jan 29, 2021 | $0.020 | OrdinaryDividend |
| Dec 31, 2020 | $0.021 | OrdinaryDividend |
| Dec 22, 2020 | $0.005 | OrdinaryDividend |
| Dec 22, 2020 | $0.254 | CapitalGainShortTerm |
| Dec 22, 2020 | $0.210 | CapitalGainLongTerm |
| Nov 30, 2020 | $0.022 | OrdinaryDividend |
| Oct 30, 2020 | $0.022 | OrdinaryDividend |
| Sep 30, 2020 | $0.022 | OrdinaryDividend |
| Aug 31, 2020 | $0.023 | OrdinaryDividend |
| Jul 31, 2020 | $0.020 | OrdinaryDividend |
| Jun 30, 2020 | $0.012 | OrdinaryDividend |
| May 29, 2020 | $0.016 | OrdinaryDividend |
| Apr 30, 2020 | $0.025 | OrdinaryDividend |
| Mar 31, 2020 | $0.027 | OrdinaryDividend |
| Feb 28, 2020 | $0.021 | OrdinaryDividend |
| Jan 31, 2020 | $0.023 | OrdinaryDividend |
| Dec 31, 2019 | $0.027 | OrdinaryDividend |
| Nov 29, 2019 | $0.025 | OrdinaryDividend |
| Oct 31, 2019 | $0.025 | OrdinaryDividend |
| Sep 30, 2019 | $0.027 | OrdinaryDividend |
| Aug 30, 2019 | $0.026 | OrdinaryDividend |
| Jul 31, 2019 | $0.030 | OrdinaryDividend |
| Dec 23, 2015 | $0.048 | CapitalGainShortTerm |
| Dec 22, 2014 | $0.029 | CapitalGainShortTerm |
| Dec 22, 2009 | $0.022 | CapitalGainShortTerm |
| Dec 23, 2008 | $0.029 | CapitalGainShortTerm |
MDHQX - 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 |
