Fund Evaluator:
BlackRock Short Obligations Investor A (BASOX)
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Fund Details
BlackRock Short Obligations Investor A Overview
BlackRock Short Obligations Investor A (BASOX) is an actively managed Taxable Bond Ultrashort Bond fund. BlackRock launched the fund in 2018.
The investment seeks current income consistent with preservation of capital. 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 an average duration of half a year or less. The fund may invest in variable and floating rate instruments and when-issued and delayed delivery securities.
About BlackRock Short Obligations Investor A (BASOX)
There are 2 members of the management team with an average tenure of 4.18 years: Eric Hiatt (2022), Bradford Glessner (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US 6M Trsy Bill TR USD index with a weighting of 100%. BlackRock Short Obligations Investor A has 230 securities in its portfolio. The top 10 holdings constitute 9.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
BlackRock Short Obligations Investor A is part of the Fixed Income global asset class and is within the Taxable Bond fund group. BlackRock Short Obligations Investor A has 13.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 54.6% (40.8% domestic bond, 13.9% foreign bond and 0.0% convertible bond). BlackRock Short Obligations Investor A has 45.4% of the portfolio in cash.
Assets Under Management
The fund has $366 million in total assets, which is below the $950 million average for the Ultrashort Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BASOX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The BlackRock Short Obligations Investor A expense ratio is above average compared to funds in the Ultrashort Bond category. BlackRock Short Obligations Investor A has an expense ratio of 0.60%, which is 34% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. BlackRock Short Obligations Investor A has a portfolio turnover rate of 59%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Ultrashort Bond category.
Recently, in the month of July 2026, BlackRock Short Obligations Investor A returned 0.2%, which earned it a grade of F, as the Ultrashort Bond category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
BlackRock Short Obligations Investor A has a trailing yield of 3.87%, which is below the 4.21% category average. The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
BlackRock Short Obligations Investor A Grades
Year to date, the fund has returned 1.9%, 0.2 percentage points worse than the category, which translates into a grade of D. The fund has returned 3.7% over the past year (grade of F), 4.6% over the past three years (grade of F) and 3.3% per year over the past five years (grade of F) and 2.4% per year over the past 10 years (grade of F).
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BASOX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BASOX Return (NAV) | 0.2% | 0.8% | 3.7% | 4.6% | 3.3% | 2.4% |
| BASOX Grade | F | D | F | F | F | F |
| +/- Category | -0.1% | -0.1% | -0.4% | -0.6% | -0.3% | -0.3% |
| Ultrashort Bond Avg | 0.3% | 0.9% | 4.1% | 5.2% | 3.6% | 2.7% |
| BASOX Tax Cost Ratio | na | na | 1.6% | 1.7% | 1.3% | na |
BASOX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BASOX Return (NAV) | 1.9% | 4.3% | 5.1% | 5.2% | 0.5% | -0.3% | 1.2% | 2.7% | 1.7% | 1.2% | 1.1% |
| BASOX Grade | D | F | F | F | B | F | D | D | C | D | D |
| +/- Category | -0.2% | -0.5% | -0.7% | -0.8% | 0.7% | -0.4% | -0.4% | -0.4% | 0.0% | -0.4% | -0.4% |
| Ultrashort Bond Avg | 2.1% | 4.9% | 5.9% | 5.9% | -0.2% | 0.1% | 1.5% | 3.1% | 1.7% | 1.6% | 1.5% |
| Risk Measures | |
| Standard Deviation: | 0.4% |
| Total Risk Index: | 0.03 - Low |
| Category Risk Index: | 0.69 - Below Average |
| Category Risk Grade: | B (24% Rank) |
| Beta: | 0.04 |
| R-Squared: | 52% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 3.9% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $958 Mil |
| Fund Total Assets: | $ 367 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 59% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.5 years | |||
| Average Tenure: 4.2 years | |||
| Managers (Year): Glessner Bradford (2022), Hiatt Eric (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 230 |
| % in Top 10 Holdings: | 9.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 13.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 40.8% |
| Foreign Bond: | 13.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 45.4% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-882-0052 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | March 9, 2018 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.60% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.45% |
| Share Class: | BlackRock Short Obligations K |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
