Fixed Income

BKT

Income Trust

  • NAV as of Nov 13, 2024 $12.01
    52 WK: 11.75 - 12.82
  • Distribution Rate as of Nov 13, 2024 8.98%
  • Market Price as of Nov 13, 2024 $11.79
  • Premium Discount as of Nov 13, 2024 -1.83%

Overview

Investment Approach

BlackRock Income Trust, Inc.’s (BKT) (the 'Trust') investment objective is to manage a portfolio of high-quality securities to achieve both preservation of capital and high monthly income. The Trust seeks to achieve its investment objective by investing at least 65% of its assets in mortgage-backed securities. The Trust invests at least 80% of its assets in securities that are (i) issued or guaranteed by the US government or one of its agencies or instrumentalities or (ii) rated at the time of investment either AAA by S&P or Aaa by Moody’s. The Trust may invest directly in such securities or synthetically through the use of derivatives.

No assurance can be given that the Trust’s investment objective will be achieved.

SEEKING INCOME IN MORTGAGES

Primarily invests in agency mortgages in an effort to offer diversification and attractive risk-adjusted returns

HIGH QUALITY EXPOSURE

May diversify equity and bond risk through high quality exposure


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Performance

Performance

Distributions

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Ex-Date Payable Date Record Date Total Distribution Income ST Cap Gains Return of Capital LT Cap Gains
Record Date Ex-Date Payable Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

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Year Total Distribution Income ST Cap Gains LT Cap Gains

Past distributions are not indicative of future distributions.


If a Fund estimates that it has distributed more than its income and net realized capital gains in the current fiscal year; a portion of its distribution may be a return of capital. A return of capital may occur, for example, when some or all of a shareholder's investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect a Fund's investment performance and should not be confused with 'yield' or 'income'. When distributions exceed total return performance, the difference will reduce the Fund's net asset value per share. Although the character of income will not be determined until the end of the fund’s fiscal year, please refer to the 'Closed-End Fund Resources' section of the BlackRock website for Section 19 notices that provide estimated amounts and sources of the fund's distributions, which should not be not be relied upon for tax reporting purposes. A Form 1099-DIV for the calendar year will be sent to shareholders to illustrate how the Fund’s distributions should be reported for federal income tax purposes.

  1y 3y 5y 10y Incept.
NAV Total Return (%) 15.77 -2.64 -0.69 1.40 3.24
Market Price Total Return (%) 19.35 -4.38 0.08 2.53 -
  YTD 1m 3m 1y 3y 5y 10y Incept.
NAV Total Return (%) 6.04 1.66 - 15.77 -7.71 -3.39 14.87 216.89
Market Price Total Return (%) 8.99 1.44 - 19.35 -12.58 0.38 28.32 -
  2019 2020 2021 2022 2023
NAV Total Return (%) 7.91 4.92 -2.01 -16.67 6.11
Market Price Total Return (%) 14.83 7.31 -0.23 -21.50 7.69

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, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.


Returns are shown net of advisory fees paid by the fund and net of the fund’s operating fees and expenses. Investors who purchase shares of the fund through an investment adviser or other financial professional may separately pay a fee to that service provider. Past performance is not indicative of future results.

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 may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Key Facts

Key Facts

Net Assets
as of Nov 13, 2024
$255,918,344
Share Class launch date
Jul 31, 1988
Asset Class
Fixed Income
Distribution Frequency
Monthly
Lipper Classification
US Mortgage Funds
CUSIP
09247F209
Managed Assets
-
Exchange
New York Stock Exchange Inc.
Shares Outstanding
as of Nov 13, 2024
21,307,672
Morningstar Category
Intermediate Core Bond
Premium Discount
as of Nov 13, 2024
-1.83%
Number of Holdings
as of Oct 31, 2024
156

Portfolio Characteristics

Portfolio Characteristics

Distribution Rate
as of Nov 13, 2024
8.98%
Average Coupon
as of Oct 31, 2024
2.88%
Effective Duration
as of Oct 31, 2024
7.44 yrs
WAL to Maturity
as of Oct 31, 2024
10.53 yrs
% Leveraged
as of Oct 31, 2024
20.33%
Yield to Maturity
as of Oct 31, 2024
5.24%
Yield to Worst
as of Oct 31, 2024
5.24%
WAL to Worst
as of Oct 31, 2024
10.53 yrs
Leverage
as of Oct 31, 2024
$ 65,626,612.00

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Fees

Fees

on net assets
Gross Expense Ratio 3.23%
Management Fee 0.65%
Interest Expense 2.31%
Other Expenses 0.27%
Acquired Fund Fees and Expenses 0.00%
on managed assets
Acquired Fund Fees and Expenses 0.00%
Interest Expenses 1.58%
Management Fee 0.45%
Other Expenses 0.19%
Gross Expense 2.22%

Fees data reflected above is current as of the latest annual shareholder report.

Ratings

Ratings

Holdings

Holdings

as of Oct 31, 2024
Name Weight (%)
FEDERAL NATIONAL MORTGAGE ASSOCIATION 21.51
UNIFORM MBS 12.02
FNMA_11-99-CB 6.90
FEDERAL HOME LOAN MORTGAGE CORPORATION 4.93
FHLMC_4016-BX 4.01
Name Weight (%)
FNMA_11-117-CP 3.72
RESOLUTION FUNDING CORP 2.80
GNMA_15-96-ZM 2.29
FHLMC_4269-PM 2.22
FHLMC_4615-LB 1.86
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 Oct 31, 2024

% of Market Value

Type Fund
as of Oct 31, 2024

% of Market Value

Type Fund
as of Oct 31, 2024

% of Market Value

Type Fund
as of Oct 31, 2024

% of Market Value

Type Fund
as of Oct 31, 2024

% of Market Value

Type Fund
as of Oct 31, 2024

% of Market Value

Type Fund
as of Oct 31, 2024

% of Market Value

Type Fund
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.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Matthew Kraeger
Matthew Kraeger
Managing Director, Global Fixed Income

    

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Matthew Kraeger, Managing Director, is Co-Head of the Agency Mortgage Team and lead portfolio manager for mortgage portfolios within Global Fixed Income.

Mr. Kraeger has been a portfolio manager within the mortgage team since 2004, serving as a PM across both institutional accounts and retail funds. He is a portfolio manager on the BlackRock GNMA Fund and BlackRock US Mortgage Fund. Mr. Kraeger co-led BlackRock’s effort to develop an agency MBS sustainable investing framework and is a portfolio manager on the BlackRock Impact Mortgage Fund and the BGF US Government Mortgage Impact Fund. Mr. Kraeger is a member of BlackRock’s Fixed Income ESG Committee.

He began his investment career as an analyst in BlackRock's trade operations department in 2000 and joined the Portfolio Analytics Group in 2002. Mr. Kraeger earned a BS degree in finance from Syracuse University.

Nicholas Kramvis
Nicholas Kramvis
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”).

©2020 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, BUILD ON BLACKROCK, ALADDIN, iSHARES, iBONDS, iTHINKING, iSHARES CONNECT, FUND FRENZY, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, the iShares Core Graphic, CoRI and the CoRI logo are registered and unregistered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.

USR-9694