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BlackRock U.S. Mortgage Portfolio
mutual fund
MSUMX
Payout Change
Pending
Price as of:
$8.97
-0.02
-0.22%
primary theme
Bond Sector Diversified
share class
MSUMX (Mutual Fund)
BlackRock U.S. Mortgage Portfolio
Payout Change
Pending
Price as of:
$8.97
-0.02
-0.22%
primary theme
Bond Sector Diversified
share class
MSUMX (Mutual Fund)
BlackRock U.S. Mortgage Portfolio
Payout Change
Pending
Price as of:
$8.97
-0.02
-0.22%
primary theme
Bond Sector Diversified
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
6.6%
1 yr return
8.0%
3 Yr Avg Return
-0.8%
5 Yr Avg Return
1.2%
Net Assets
$400 M
Holdings in Top 10
39.6%
52 WEEK LOW AND HIGH
$9.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.62%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,000,000
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
MSUMX - Profile
Distributions
- YTD Total Return 6.6%
- 3 Yr Annualized Total Return -0.8%
- 5 Yr Annualized Total Return 1.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.65%
- Dividend Yield 5.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameBlackRock U.S. Mortgage Portfolio
-
Fund Family NameBlackRock-advised Funds
-
Inception DateSep 17, 2018
-
Shares Outstanding23275765
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMatthew Kraeger
Fund Description
The Fund invests primarily in mortgage-backed and other mortgage-related securities. The securities in which the Fund may invest include U.S. government securities, U.S. government agency securities, securities issued by U.S. government instrumentalities and U.S. government-sponsored enterprises, and other mortgage-backed securities or mortgage-related securities issued by the U.S. government or by private issuers. Under normal circumstances, the Fund will invest at least 80% of its assets in mortgage-backed securities and other mortgage-related securities that are issued by issuers located in the United States.
The Fund seeks to achieve its investment objective by selecting securities of any maturity issued or guaranteed by the U.S. government, by various agencies of the U.S. government, by various instrumentalities that have been established or are sponsored by the U.S. government, or securities issued by banks or other financial institutions. Some of these securities are issued and/or guaranteed by the U.S. government and are supported by the full faith and credit of the United States. Other securities are issued or guaranteed by Federal agencies or government-sponsored enterprises and are not direct obligations of the United States, and are not backed by the full faith and credit of the United States, but involve sponsorship or guarantees by government agencies or enterprises.
The Fund will concentrate its investments (i.e., invest at least 25% of its total assets) in non-agency mortgage-backed securities and may invest in other non-agency securities issued by banks and other financial institutions. Non-agency securities are not backed by the full faith and credit of the United States and do not involve sponsorship or guarantees by government agencies or enterprises. The non-agency mortgage-related securities in which the Fund will invest may be rated below investment grade (commonly known as “junk bonds”) or securities determined by Fund management to be of similar quality. For purposes of determining a bond’s credit rating, split rated bonds will be considered to have the higher credit rating.
The Fund may also participate in to be announced (“TBA”) transactions and enter into dollar rolls. A TBA transaction is a method of trading mortgage-backed securities where the buyer and seller agree upon general trade parameters such as agency, settlement date, par amount and price at the time the contract is entered into but the mortgage-backed securities are delivered in the future, generally 30 days later. The actual pools of mortgage-backed securities delivered in a TBA transaction typically are not determined until two days prior to settlement date. A dollar roll transaction involves a sale by the Fund of a mortgage-backed or other security concurrently with an agreement by the Fund to repurchase a similar security at a later date at an agreed-upon price. The securities that are repurchased will bear the same interest rate and stated maturity as those sold, but pools of mortgages collateralizing those securities may have different prepayment histories than those sold.
The Fund may use derivatives, including options, futures, swaps and forward foreign exchange transactions, both to seek to increase the return of the Fund and to hedge (or protect) the value of its assets against adverse movements in interest rates and movements in the securities markets. In order to manage cash flows into or out of the Fund effectively, the Fund may buy and sell financial futures contracts or options on such contracts. Derivatives are financial instruments whose value is derived from another security, a currency or an index such as the Bloomberg U.S. Mortgage-Backed Securities Index. The Fund may also invest in indexed and inverse securities.
The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
MSUMX - Performance
Return Ranking - Trailing
| Period | MSUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.6% | -11.1% | 18.9% | 51.24% |
| 1 Yr | 8.0% | -9.2% | 20.8% | 39.94% |
| 3 Yr | -0.8%* | -16.9% | 16.8% | 87.30% |
| 5 Yr | 1.2%* | -14.7% | 13.4% | 78.21% |
| 10 Yr | N/A* | -7.0% | 7.1% | 73.08% |
* Annualized
Return Ranking - Calendar
| Period | MSUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.3% | -12.0% | 8.9% | 72.80% |
| 2022 | -16.3% | -31.8% | 18.4% | 79.24% |
| 2021 | 0.2% | -16.2% | 25.7% | 21.80% |
| 2020 | 2.1% | -31.1% | 18.7% | 45.10% |
| 2019 | 3.3% | -6.1% | 15.3% | 70.13% |
Total Return Ranking - Trailing
| Period | MSUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.6% | -11.1% | 18.9% | 51.24% |
| 1 Yr | 8.0% | -9.2% | 20.8% | 39.94% |
| 3 Yr | -0.8%* | -16.9% | 16.8% | 87.30% |
| 5 Yr | 1.2%* | -14.7% | 13.4% | 78.21% |
| 10 Yr | N/A* | -7.0% | 7.1% | 70.88% |
* Annualized
Total Return Ranking - Calendar
| Period | MSUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.7% | -6.9% | 22.2% | 72.02% |
| 2022 | -13.3% | -31.8% | 21.1% | 90.65% |
| 2021 | 2.8% | -13.5% | 49.9% | 37.70% |
| 2020 | 5.9% | -28.6% | 24.1% | 46.88% |
| 2019 | 6.3% | -4.8% | 19.1% | 75.72% |
NAV & Total Return History
MSUMX - Holdings
Concentration Analysis
| MSUMX | Category Low | Category High | MSUMX % Rank | |
|---|---|---|---|---|
| Net Assets | 400 M | 2.63 M | 143 B | 58.92% |
| Number of Holdings | 779 | 4 | 9638 | 33.70% |
| Net Assets in Top 10 | 159 M | -204 M | 89.4 B | 52.11% |
| Weighting of Top 10 | 39.60% | 5.8% | 265.8% | 30.19% |
Top 10 Holdings
- U.S. Treasury Bills 12.08%
- Uniform Mortgage-Backed Securities 4.90%
- Uniform Mortgage-Backed Securities 4.32%
- Uniform Mortgage-Backed Securities 3.75%
- Uniform Mortgage-Backed Securities 2.77%
- Uniform Mortgage-Backed Securities 2.74%
- Uniform Mortgage-Backed Securities 2.53%
- Uniform Mortgage-Backed Securities 2.48%
- Uniform Mortgage-Backed Securities 2.03%
- Uniform Mortgage-Backed Securities 2.00%
Asset Allocation
| Weighting | Return Low | Return High | MSUMX % Rank | |
|---|---|---|---|---|
| Bonds | 94.41% | 0.00% | 199.60% | 35.73% |
| Cash | 13.37% | -94.66% | 99.97% | 14.04% |
| Other | 9.81% | -75.22% | 147.15% | 31.67% |
| Stocks | 0.00% | -6.18% | 99.68% | 75.51% |
| Preferred Stocks | 0.00% | 0.00% | 21.58% | 54.45% |
| Convertible Bonds | 0.00% | 0.00% | 33.50% | 85.74% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MSUMX % Rank | |
|---|---|---|---|---|
| Securitized | 57.78% | 0.00% | 99.65% | 12.56% |
| Cash & Equivalents | 13.36% | 0.00% | 94.89% | 12.05% |
| Corporate | 0.73% | 0.00% | 96.66% | 90.50% |
| Government | 0.22% | 0.00% | 99.43% | 84.06% |
| Derivative | 0.19% | -75.22% | 147.15% | 30.52% |
| Municipal | 0.00% | 0.00% | 54.26% | 48.95% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MSUMX % Rank | |
|---|---|---|---|---|
| US | 94.41% | 0.00% | 199.60% | 22.31% |
| Non US | 0.00% | 0.00% | 74.14% | 70.83% |
MSUMX - Expenses
Operational Fees
| MSUMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.62% | 0.03% | 34.13% | 90.20% |
| Management Fee | 0.40% | 0.00% | 2.29% | 10.22% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
| MSUMX 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
| MSUMX 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.
| MSUMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 632.00% | 98.81% |
MSUMX - Distributions
Dividend Yield Analysis
| MSUMX | Category Low | Category High | MSUMX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.55% | 0.00% | 23.30% | 41.58% |
Dividend Distribution Analysis
| MSUMX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Quarterly |
Net Income Ratio Analysis
| MSUMX | Category Low | Category High | MSUMX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.65% | -1.55% | 11.51% | 59.43% |
Capital Gain Distribution Analysis
| MSUMX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.042 | OrdinaryDividend |
| Oct 31, 2024 | $0.042 | OrdinaryDividend |
| Sep 30, 2024 | $0.043 | OrdinaryDividend |
| Aug 30, 2024 | $0.045 | OrdinaryDividend |
| Jul 31, 2024 | $0.042 | OrdinaryDividend |
| Apr 30, 2024 | $0.044 | OrdinaryDividend |
| Mar 31, 2024 | $0.038 | OrdinaryDividend |
| Feb 29, 2024 | $0.036 | OrdinaryDividend |
| Jan 31, 2024 | $0.039 | OrdinaryDividend |
| Dec 29, 2023 | $0.041 | OrdinaryDividend |
| Dec 20, 2023 | $0.016 | CapitalGainShortTerm |
| Nov 30, 2023 | $0.038 | OrdinaryDividend |
| Oct 31, 2023 | $0.036 | OrdinaryDividend |
| Sep 30, 2023 | $0.036 | OrdinaryDividend |
| Aug 31, 2023 | $0.037 | OrdinaryDividend |
| Jul 31, 2023 | $0.037 | OrdinaryDividend |
| Jun 30, 2023 | $0.002 | OrdinaryDividend |
| May 31, 2023 | $0.035 | OrdinaryDividend |
| Apr 28, 2023 | $0.034 | OrdinaryDividend |
| Mar 31, 2023 | $0.035 | OrdinaryDividend |
| Feb 28, 2023 | $0.032 | OrdinaryDividend |
| Jan 31, 2023 | $0.034 | OrdinaryDividend |
| Dec 30, 2022 | $0.032 | OrdinaryDividend |
| Dec 19, 2022 | $0.003 | CapitalGainShortTerm |
| Dec 19, 2022 | $0.003 | OrdinaryDividend |
| Nov 30, 2022 | $0.030 | OrdinaryDividend |
| Oct 31, 2022 | $0.030 | OrdinaryDividend |
| Sep 30, 2022 | $0.028 | OrdinaryDividend |
| Aug 31, 2022 | $0.028 | OrdinaryDividend |
| Jul 29, 2022 | $0.025 | OrdinaryDividend |
| Jun 30, 2022 | $0.022 | OrdinaryDividend |
| May 31, 2022 | $0.021 | OrdinaryDividend |
| Apr 29, 2022 | $0.021 | OrdinaryDividend |
| Mar 31, 2022 | $0.020 | OrdinaryDividend |
| Feb 28, 2022 | $0.018 | OrdinaryDividend |
| Jan 31, 2022 | $0.018 | OrdinaryDividend |
| Dec 31, 2021 | $0.024 | OrdinaryDividend |
| Nov 30, 2021 | $0.016 | OrdinaryDividend |
| Oct 29, 2021 | $0.018 | OrdinaryDividend |
| Sep 30, 2021 | $0.015 | OrdinaryDividend |
| Aug 31, 2021 | $0.017 | OrdinaryDividend |
| Jul 30, 2021 | $0.022 | OrdinaryDividend |
| Jun 30, 2021 | $0.027 | OrdinaryDividend |
| May 28, 2021 | $0.024 | OrdinaryDividend |
| Apr 30, 2021 | $0.021 | OrdinaryDividend |
| Mar 31, 2021 | $0.020 | OrdinaryDividend |
| Feb 26, 2021 | $0.017 | OrdinaryDividend |
| Jan 29, 2021 | $0.026 | OrdinaryDividend |
| Dec 31, 2020 | $0.024 | OrdinaryDividend |
| Dec 23, 2020 | $0.004 | OrdinaryDividend |
| Nov 30, 2020 | $0.025 | OrdinaryDividend |
| Oct 30, 2020 | $0.022 | OrdinaryDividend |
| Sep 30, 2020 | $0.031 | OrdinaryDividend |
| Aug 31, 2020 | $0.031 | OrdinaryDividend |
| Jul 31, 2020 | $0.033 | OrdinaryDividend |
| Jun 30, 2020 | $0.031 | OrdinaryDividend |
| May 29, 2020 | $0.029 | OrdinaryDividend |
| Apr 30, 2020 | $0.031 | OrdinaryDividend |
| Mar 31, 2020 | $0.031 | OrdinaryDividend |
| Feb 28, 2020 | $0.028 | OrdinaryDividend |
| Jan 31, 2020 | $0.025 | OrdinaryDividend |
| Dec 31, 2019 | $0.025 | OrdinaryDividend |
| Oct 31, 2019 | $0.026 | OrdinaryDividend |
| Sep 30, 2019 | $0.026 | OrdinaryDividend |
| Aug 30, 2019 | $0.027 | OrdinaryDividend |
| Jul 31, 2019 | $0.028 | OrdinaryDividend |
| Dec 21, 2018 | $0.009 | CapitalGainShortTerm |
MSUMX - Fund Manager Analysis
Managers
Matthew Kraeger
Start Date
Tenure
Tenure Rank
Aug 28, 2009
12.76
12.8%
Managing Director of BlackRock, Inc. since 2015; Director of BlackRock, Inc. from 2009 to 2014; Vice President of BlackRock, Inc. from 2006 to 2008; Associate of BlackRock, Inc. from 2002 to 2005.
Siddharth Mehta
Start Date
Tenure
Tenure Rank
Aug 26, 2016
5.76
5.8%
Siddharth Mehta, Director of BlackRock, Inc. since 2017; Vice President of BlackRock, Inc. from 2011 to 2016.Vice President, is a member of the Mortgage Portfolio Team within BlackRock's Americas Fixed Income Alpha Strategies. Mr. Mehta joined the Portfolio Management Group in 2008.From 2006 to 2008, Mr. Mehta was a member of BlackRock's Risk and Quantitative Analytics Group, where he was responsible for supporting the mortgage team. Mr. Mehta began his investment career with BlackRock as an analyst in the Portfolio Analytics Group. Mr. Mehta earned a BS degree, magna cum laude, in electrical engineering from the University of Michigan in 2005.
Ibrahim Incoglu
Start Date
Tenure
Tenure Rank
Dec 17, 2019
2.45
2.5%
Mr. Ibrahim Incoglu is Managing Director of BlackRock, Inc. since 2015 and Director of BlackRock, Inc. from 2009 to 2014. Mr. Incoglu, a Managing Director of BlackRock, is part of the Securitized Assets Investment team and a member of Americas Fixed Income within the Alpha Strategies Group. Mr. Incoglu is a Senior Portfolio Manager and Trader on the Non-Agency desk. His responsibilities include managing Prime, Alt-a, Option Arm and Subprime positions across numerous BlackRock portfolios. Prior to joining BlackRock in 2009, Mr. Incoglu spent more than six years on the sell side at Wachovia Securities, most recently as a Director. He was responsible for managing the synthetic ABS desk, market making and hedging activities. Prior to launching synthetic desk in 2006, Mr. Incoglu was a Senior Trader at Wachovia and traded / made markets on Alt-a, Sub-prime and 2nd liens/ HELOC's (Home Equity Line of Credit). From 2002 to 2003, Mr. Incoglu was an Associate at Bank of America Securities, where he structured up Non-Agency deals, and ran arbitrage to buy and securitize mortgage whole loans. Mr. Incoglu began his career at Ocwen Federal Bank in 2000. He focused on trading of IO's, servicing strips, as well as hedging activities of the derivatives. Mr. Incoglu earned a BS degree in civil engineering from Bogazici University in 1998, and an MBA degree in business administration from the University of Tulsa in 1999.
Samir Lakhani
Start Date
Tenure
Tenure Rank
Dec 17, 2019
2.45
2.5%
Managing Director of BlackRock, Inc. since 2014; Director of BlackRock, Inc. from 2010 to 2013
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 28.19 | 5.71 | 3.19 |
