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Morningstar

BlackRock High Yield Bond Instl BHYIX

Morningstar Medalist Rating
Medalist Rating as of | See BlackRock Investment Hub
  • NAV / 1-Day Return 6.77  /  0.20 %
  • Total Assets 19.2 Bil
  • Adj. Expense Ratio
    0.570%
  • Expense Ratio 0.600%
  • Distribution Fee Level Below Average
  • Share Class Type Institutional
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity Low / Limited
  • Min. Initial Investment 2,000,000
  • Status Open
  • TTM Yield 6.28%
  • Effective Duration 1.79 years

USD | NAV as of Jun 09, 2023 | 1-Day Return as of Jun 09, 2023, 10:10 PM GMT+0

Morningstar’s Analysis BHYIX

Will BHYIX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable BHYIX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the BHYIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of BHYIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

BlackRock High Yield Bond's Rating Is Unchanged as Manager James Keenan Transitions to a New Role

null Jeana Marie Doubell

Jeana Marie Doubell

Analyst Note

On May 11, 2023, BlackRock announced that high-yield portfolio manager and CIO of credit James Keenan will move to a new position on the private side of the business as CIO and global head of credit for BlackRock Alternatives. The leveraged finance team that Keenan has built up over the past decade, with its deep bench of senior investment professionals, will be moved under the fundamental fixed-income team. Veteran co-heads of U.S. leveraged finance, Mitchell Garfin and David Delbos, will now report to Rick Rieder, who is the CIO and head of fundamental fixed-income. As a result, Keenan was removed as a named manager from all high-yield and floating-rate funds that are managed by the leveraged finance team. We do not see this change as a significant loss, as Keenan had been much less involved in the day-to-day running of these funds since his promotion to CIO of global credit in 2014, which had increasingly taken up the majority of his time in recent years.

by Jeana Marie Doubell
Published on

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Portfolio Holdings BHYIX

More BHYIX Holdings
  • Current Portfolio Date
  • Equity Holdings 16
  • Bond Holdings 1410
  • Other Holdings 195
  • % Assets in Top 10 Holdings 10.2
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

iShares iBoxx $ High Yield Corp Bd ETF

2.57
489,840,000
—

BlackRock Liquidity T-Fund Instl

2.08
396,799,843
Cash and Equivalents

SPDR® Blmbg High Yield Bd ETF

1.70
323,715,000
—

TransDigm, Inc.

1.57
299,688,508
Corporate

ICE: (CDX.NA.HY.40.V1)

1.49
285,281,900
Derivative

TRSWAP: IBOXHY INDEX

1.15
219,175,678
—

EUR/USD Purchased

0.91
173,668,124
Derivative

Mauser Packaging Solutions Holding Company

0.91
173,223,469
Corporate

Clarios Global Lp

0.80
152,329,603
Corporate

ASCENT RESOURCES UTICA HOLDINGS LL TL

0.78
149,384,250
Corporate