Cash

BASOX

Short Obligations Fund

  • NAV as of Nov 13, 2024 $10.0700

Overview

Investment Approach

Under normal market conditions, Short Obligations Fund will invest in U.S. dollar-denominated investment grade and short-term fixed and floating rate debt securities maturing in three years or less (with certain exceptions) and will maintain a dollar-weighted average maturity of 180 days or less and a dollar-weighted average life of 365 days or less.
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Performance

Performance

Growth of Hypothetical $10,000

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Performance data quoted represents past performance and is not a guarantee of future results.

Investment returns and principal values may fluctuate so that an investor’s shares, when redeemed may be worth more or less than their original costs. Current performance may be lower or higher than that shown. All returns assume reinvestment of all dividend and capital gain distributions. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. Please call 800-441-7762 to obtain performance data current to the most recent month-end.

On 3/1/2021 the Fund began to track the 4pm pricing variant of the ICE BofA 6 Month Treasury Bill Index. Historical index data prior to 3/1/2021 is for the 3pm pricing variant of the ICE BofA 6 Month Treasury Bill Index. Index data on and after 3/1/2021 is for the 4pm pricing variant of the ICE BofA 6 Month Treasury Bill Index.

  • Returns

  1y 3y 5y 10y
Total Return (%) 5.71 3.15 2.20 1.71
Benchmark (%) 5.73 3.53 2.44 1.80
Morningstar Category Avg. (%) 6.51 3.49 2.48 1.97
Morningstar Ranking 213/252 153/199 157/181 -
Morningstar Quartile 4 3 4 3
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 returns in the table for Investor A Shares prior to commencement of operations on March 9, 2018 are based on the Fund’s Class K Shares (designated BlackRock Shares prior to September 1, 2015), adjusted to reflect the fees and expenses applicable to Investor A Shares. The performance of the Fund’s Class A Shares would be substantially similar to the Class K shares because this share class and K Shares invest in the same portfolio of securities and performance would only differ to the extent that this share class and Class K Shares have different expenses.
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Key Facts

Key Facts

Size of Fund (Millions)
as of Nov 13, 2024
$1,125.5 M
Share Class launch date
Mar 09, 2018
Asset Class
Prime
Net Expense Ratio
0.60%
Domicile
United States
Trading Deadline
4:00 p.m. (ET)
Size of Class (Millions)
as of Nov 13, 2024
$479.4 M
Base Currency
U.S. Dollar
Gross Expense Ratio
0.62%
Minimum Initial Investment
$1,000.00
CUSIP
09258N240
Fund Code
02046
Expenses are as of the most current prospectus. The Net Expense Ratio does not include a voluntary cap of 0.50% on Total Annual Fund Operating Expenses (excluding Dividend Expense, Interest Expense, Acquired Fund Fees and Expenses and certain other Fund expenses as a percentage of average daily net assets). The voluntary waiver or reimbursement may be reduced or discontinued at any time without notice. BlackRock may contractually agree to waive or reimburse certain fees until a specified date. Contractual waivers are terminable upon 90 days’ notice by a majority of the funds non-interested trustees or by a vote of the majority of the outstanding voting securities of the fund. The investment advisor and/or other service providers may also voluntarily agree to waive certain fees and expenses which can be discontinued at any time without notice. When waivers or reimbursements are in place, the operating expenses are reduced and total returns to the shareholder in the fund increase. Please see the prospectus for additional information.

Portfolio Characteristics

Portfolio Characteristics

Weighted Average Maturity
as of Nov 12, 2024
187 days
Subsidized 30-Day SEC Yield
as of Oct 31, 2024
4.38%
Unsubsidized 30-Day SEC Yield
as of Oct 31, 2024
4.25%
Effective Duration
as of Oct 31, 2024
0.46 yrs
Unsubsidized 1-day Yield
as of Nov 13, 2024
4.29%
Unsubsidized 7-day Yield
as of Nov 13, 2024
4.33%
Unsubsidized 30-day Yield
as of Nov 13, 2024
4.37%
Weighted Average Life
as of Nov 12, 2024
278 days
Yield to Maturity
as of Oct 31, 2024
4.88%
Yield to Worst
as of Oct 31, 2024
4.86%
1-day Yield
as of Nov 13, 2024
4.41%
7-day Yield
as of Nov 13, 2024
4.46%
30-day Yield
as of Nov 13, 2024
4.49%

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

as of current prospectus
Gross Expense Ratio 0.62%
Net Expense Ratio 0.50%

Net Expense Ratio excluding Investment Related Expenses is 0.50%

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

Ratings

Ratings

Exposure Breakdowns

Exposure Breakdowns

as of Nov 12, 2024

% of Market Value

Type Fund
The "Other Instrument – Note" category represents investment grade corporate bonds. The “Other Repurchase Agreement” category represents repurchase agreements backed by non-government securities, and any repurchase agreements not categorized as U.S. Treasury or U.S. Government Agency.
Sector exposure is calculated by aggregating the percent par of individual securities in the portfolio by security type. BlackRock uses a proprietary process to determine the security type of individual securities, by conducting a thorough analysis of the issuer/obligor, including but not limited to any support providers or enhancers. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.
as of Nov 12, 2024

% of Market Value

Type Fund
Geographic exposure is calculated by aggregating the percent par of holdings of individual securities in the portfolio based on a hierarchy by security type. For repurchase agreements, exposure is rolled-up to the counterparty for Other Repurchase agreements. For US Treasury and US Government Agency repurchase agreements, exposure looks through to the underlying collateral. For Asset Backed Commercial Paper (“ABCP”), exposure looks to the sponsor level of the ABCP conduit. For Variable Rate Demand Notes, exposure rolls up to the credit-enhancer. The Geography report represents BlackRock’s view of each security’s geography risk. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.
as of Nov 12, 2024

% of Market Value

Type Fund
Maturity is provided in days. Maturity exposure is calculated by aggregating the percent par of holdings of individual securities in the portfolio by the legal final maturity date, or for securities that have a demand feature, the date in which the demand feature is exercised and proceeds received. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.
as of Nov 12, 2024

% of Market Value

Type Fund
"No S/T Rating" represents issuers that do not have a short term rating or committed cash. For issuers that don’t have a short term rating their issuer or guarantor long term equivalent would have a rating of BBB-, or equivalent, or higher by at least one nationally recognized statistical rating organization.

Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted by BlackRock 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. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Bradford Glessner, CFA
Bradford Glessner, CFA
Eric Hiatt, CFA, FRM
Eric Hiatt, CFA, FRM
Portfolio Manager

Literature

Literature

 

How to Buy BlackRock Cash Management Funds

How to Buy BlackRock Cash Management Funds

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You should consider the investment objectives, risks and expenses of the Funds carefully before investing. The Funds’ prospectuses and, if available summary prospectuses, contain this and other information about the Funds and are available by calling our Client Service Center at 800-441-7450 or by visiting www.blackrock.com/cash. Please read the prospectus carefully before investing.

 

PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.

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