Fund Evaluator:
BlackRock Managed Income Institutional (BLDIX)
Follow This Fund
Best Performing in Conservative Allocation Over the Last Year
| 9.7% | Franklin Multi-Asset Income Y (PMIYX) |
| 8.7% | Hussman Strategic Total Return (HSTRX) |
| 8.4% | Columbia Income Builder Inst (CBUZX) |
| 7.4% | Thrivent Conservative Allocation S (THYFX) |
| 7.3% | Columbia Capital Allocation Cnsrv Inst (CBVZX) |
Fund Details
BlackRock Managed Income Institutional Overview
BlackRock Managed Income Institutional (BLDIX) is an actively managed Allocation Conservative Allocation fund. BlackRock launched the fund in 2007.
The investment seeks to maximize current income with consideration for risk-managed total return. The fund may invest up to 100% of its assets in fixed-income securities and up to 30% of its assets in equity securities. It may also invest in non-investment grade bonds (high yield, junk bonds or distressed securities), non-investment grade bank loans, non-dollar denominated bonds and bonds of emerging market issuers.
About BlackRock Managed Income Institutional (BLDIX)
There are 2 members of the management team with an average tenure of 5.30 years: Justin Christofel (2016), Louis Arranz (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 4 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100%, Bloomberg US Corp HY 2% Isr Cap TR HUSD index with a weighting of 22%, MSCI World High Dividend Yield NR USD index with a weighting of 17% and Bloomberg US Agg Bond TR USD index with a weighting of 60%. BlackRock Managed Income Institutional has 2239 securities in its portfolio. The top 10 holdings constitute 53.3% 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 Managed Income Institutional is part of the Allocation global asset class and is within the Allocation fund group. BlackRock Managed Income Institutional has 20.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 19.9%. There is 4.6% allocated to foreign stock, and 0.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 110.2% (94.3% domestic bond, 15.9% foreign bond and 0.2% convertible bond). BlackRock Managed Income Institutional has -35.5% of the portfolio in cash.
Assets Under Management
The fund has $478 million in total assets, which is above the $108 million average for the Conservative Allocation 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.
BLDIX 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 Managed Income Institutional expense ratio is average compared to funds in the Conservative Allocation category. BlackRock Managed Income Institutional has an expense ratio of 0.45%, which is 62% lower than its category average, making the fund expense ratio grade a A. 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 Managed Income Institutional has a portfolio turnover rate of 106%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 103% for the Conservative Allocation category.
Recently, in the month of August 2026, BlackRock Managed Income Institutional returned 0.9%, which earned it a grade of C, as the Conservative Allocation category had an average return of 0.9%. 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 Managed Income Institutional has a trailing yield of 5.42%, which is above the 3.68% 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 Managed Income Institutional Grades
Year to date, the fund has returned 2.7%, 1.0 percentage points worse than the category, which translates into a grade of D. The fund has returned 5.1% over the past year (grade of D), 7.7% over the past three years (grade of C) and 3.7% per year over the past five years (grade of B) and 4.3% per year over the past 10 years (grade of C).
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BLDIX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BLDIX Return (NAV) | 0.9% | 0.5% | 5.1% | 7.7% | 3.7% | 4.3% |
| BLDIX Grade | C | B | D | C | B | C |
| +/- Category | 0.0% | 0.2% | -1.4% | -0.1% | 0.9% | 0.3% |
| Conservative Allocation Avg | 0.9% | 0.3% | 6.5% | 7.8% | 2.8% | 4.0% |
| BLDIX Tax Cost Ratio | na | na | 2.2% | 2.2% | 2.1% | 1.9% |
BLDIX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BLDIX Return (NAV) | 2.7% | 9.9% | 5.1% | 10.3% | -9.3% | 5.6% | 5.8% | 9.7% | -0.7% | 5.3% | 9.6% |
| BLDIX Grade | D | C | D | B | A | B | F | F | A | F | A |
| +/- Category | -1.0% | 0.6% | -0.8% | 1.6% | 2.7% | 1.1% | -2.3% | -1.8% | 2.6% | -1.8% | 3.8% |
| Conservative Allocation Avg | 3.7% | 9.2% | 5.9% | 8.7% | -11.9% | 4.5% | 8.0% | 11.5% | -3.3% | 7.1% | 5.9% |
| Risk Measures | |
| Standard Deviation: | 5.5% |
| Total Risk Index: | 0.45 - Low |
| Category Risk Index: | 0.87 - Below Average |
| Category Risk Grade: | B (21% Rank) |
| Beta: | 0.56 |
| R-Squared: | 88% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 5.4% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | None |
| Total Assets: | $885 Mil |
| Fund Total Assets: | $ 479 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 106% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 9.9 years | |||
| Average Tenure: 5.3 years | |||
| Managers (Year): Christofel Justin (2016), Arranz Louis (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 2239 |
| % in Top 10 Holdings: | 53.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 20.5% |
Portfolio Allocation |
|
| Domestic Stock: | 19.9% |
| Foreign Stock: | 4.6% |
| Preferred Stock: | 0.4% |
| Domestic Bond: | 94.3% |
| Foreign Bond: | 15.9% |
| Convertible Bond: | 0.2% |
| Other: | 0.4% |
| Cash: | -35.5% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | October 19, 2007 |
| Min. Initial Purchase: | $2,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.45% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 1.19% |
| Share Class: | BlackRock Managed Income K |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
