Fixed Income

BPLBX

Inflation Protected Bond Fund

  • NAV as of Apr 25, 2025 $9.66
    52 WK: 9.40 - 9.87
  • 1 Day NAV Change as of Apr 25, 2025 0.01 (0.10%)
  • NAV Total Return as of Apr 25, 2025 YTD: 3.64%
  • Morningstar Rating

Overview

About this Fund

  • High-Quality Inflation Protection
  • A Distinct Portfolio Diversifier
  • Pursuing Protection and Income

Investment Approach

Invests at least 80% of its assets in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities, and U.S. and non-U.S. corporations.
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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 5.88 0.05 2.75 2.44
Benchmark (%) 6.17 0.06 2.36 2.51
Morningstar Category Avg. (%) 5.91 -0.13 1.93 2.05
Morningstar Ranking 90/147 43/139 34/130 22/107
Morningstar Quartile 3 2 2 2
Lipper Category Avg. (%) 5.62 0.51 2.94 2.20
Lipper Ranking 156/231 99/196 88/183 53/145
Lipper Quartile 3 3 2 2
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 4.13 0.55 4.13 5.88 0.15 14.54 27.28
Benchmark (%) 4.17 0.64 4.17 6.17 0.18 12.36 28.18
Morningstar Category Avg. (%) 3.92 0.60 3.92 5.91 -0.38 10.05 22.55
Lipper Category Avg. (%) 3.76 0.62 3.76 5.62 1.82 16.10 24.61
  2020 2021 2022 2023 2024
Total Return (%) 11.85 5.80 -11.47 3.77 1.87
Benchmark (%) 10.99 5.96 -11.85 3.90 1.84
Morningstar Category Avg. (%) 10.01 5.61 -8.98 2.82 2.05

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

The Fund’s returns prior to September 17, 2018 are the returns of a predecessor fund that reorganized into the Fund on September 17, 2018. The predecessor fund had the same investment objectives, strategies and policies, portfolio management team and contractual arrangements, including the same contractual fees and expenses, as the Fund as of the date of the reorganization. As a result, the performance of the Fund would have been substantially similar to that of the predecessor fund.
Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Apr 25, 2025
$1,822.4 M
Share Class launch date
Jun 28, 2004
Benchmark Index
Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L) (USD)
Morningstar Category
Inflation-Protected Bond
CUSIP
09260B549
Open to New Investors
Yes
Size of Class (Millions)
as of Apr 25, 2025
$520.6 M
Asset Class
Fixed Income
Distribution Frequency
None
Lipper Classification
Infl Protected Bd Fds
Max Offer Price
as of Apr 25, 2025
$9.66
Turnover Percent in the Annual Report
as of Dec 31, 2024
227%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Mar 31, 2025
177
Alpha (3y)
as of Mar 31, 2025
0.00
R-Squared (3y)
as of Mar 31, 2025
99.25
Beta (3y)
as of Mar 31, 2025
1.02
Unsubsidized 30-Day SEC Yield
as of Mar 31, 2025
8.70%
Effective Duration
as of Mar 31, 2025
6.49 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
5.81%
30 Day SEC Yield
as of Mar 31, 2025
8.75%
Yield to Maturity
as of Mar 31, 2025
4.32%
Fund Standard Deviation (3y)
as of Mar 31, 2025
7.39
Average Coupon
as of Mar 31, 2025
1.17%
Yield to Worst
as of Mar 31, 2025
1.85%
Weighted Average Life
as of Mar 31, 2025
8.83 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2022
-8.23%

For the latest month-end Distribution Yield, click here.


This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.84%
Net Expense Ratio 0.79%

Net Expense Ratio excluding Investment Related Expenses is 0.29%

  • Acquired Fund Fees and Expenses 0.00%
  • Interest expense 0.50%

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Inflation Protected Bond Fund, as of Mar 31, 2025 rated against 139 Inflation-Protected Bond Funds based on risk adjusted total return.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective Feb 21, 2025)
Analyst-Driven % as of Feb 21, 2025
100.00
Data Coverage % as of Feb 21, 2025
100.00

Lipper Leader

 
 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Mar 31, 2025 out of 196, 6,077, 196, 251 and 196 Funds, respectively in Lipper's Infl Protected Bd Fds classification.

Holdings

Holdings

as of Mar 31, 2025
Name Weight (%)
US 2YR NOTE JUN 25 06/30/2025 11.08
Notional Cash Offset (LCH SWAP) 10.54
UMBS 30YR TBA(REG A) 7.06
THREE-MONTH SOFR FUTURE JUN 26 09/15/2026 5.87
Notional Cash Offset (UXYM5 FUTURE) 4.78
Name Weight (%)
TREASURY (CPI) NOTE 1.875 07/15/2034 3.93
TREASURY (CPI) NOTE 1.75 01/15/2034 3.72
TREASURY (CPI) NOTE 1.375 07/15/2033 3.55
TREASURY (CPI) NOTE 0.625 07/15/2032 3.54
TREASURY (CPI) NOTE 1.625 10/15/2029 3.49
Name Market Value Weight (%) Shares Maturity Coupon (%)
Detailed Holdings and Analytics
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Exposure Breakdowns

Exposure Breakdowns

as of Mar 31, 2025

% Notional Exposures

Type Fund Benchmark Net
as of Mar 31, 2025

% Market Value

Type Fund Benchmark Net
as of Mar 31, 2025

% Market Value

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

David Rogal
David Rogal
Managing Director, Global Fixed Income, Head of Core and Core Plus Fixed Income Strategies, Head of Inflation Linked Portfolios

 

 

Read More

David Rogal, Managing Director, is a member of the Multi-Sector team within BlackRock's Global Fixed Income Group. Mr. Rogal is Head of Inflation Linked Portfolios and the lead investor for Core and Core Plus Strategies. He is a lead portfolio manager of BlackRock's Core Bond, Inflation Protected, Strategic Income Opportunities, Total Return Fund, and the iShares Total Return Active ETF. Mr. Rogal focuses on broad macro positioning, with specialties in interest rates, inflation, and volatility trading.

 

Mr. Rogal joined Fixed Income in 2009. Previously, he was a member of BlackRock's Multi Asset Strategies group, where he developed quantitative models and advised insurance companies, pension funds, and banks on asset-allocation and asset-liability management. 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.

Johan Sjogren
Johan Sjogren
Harrison Segall
Harrison Segall
Portfolio Manager

Literature

Literature

 

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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USR-9694