Fund Evaluator:
BlackRock Inflation Protected Bond Instl (BPRIX)
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Fund Details
BlackRock Inflation Protected Bond Instl Overview
BlackRock Inflation Protected Bond Instl (BPRIX) is an actively managed Taxable Bond Inflation-Protected Bond fund. BlackRock launched the fund in 2004.
The investment seeks to maximize real return, consistent with preservation of real capital and prudent investment management. The fund 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. It may invest up to 20% of its assets in non-investment grade bonds or securities of emerging market issuers. The fund maintains an average portfolio duration that is within ±40% of the duration of the Bloomberg U.S. Treasury Inflation Protected Securities Index (the benchmark).
About BlackRock Inflation Protected Bond Instl (BPRIX)
There are 3 members of the management team with an average tenure of 1.90 years: Johan Sjogren (2024), Harrison Segall (2024), Russell Brownback (2025). 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 Bloomberg US Treasury US TIPS TR USD index with a weighting of 100%. BlackRock Inflation Protected Bond Instl has 785 securities in its portfolio. The top 10 holdings constitute 36.4% 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 Inflation Protected Bond Instl is part of the Fixed Income global asset class and is within the Taxable Bond fund group. BlackRock Inflation Protected Bond Instl has 6.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -0.0%. There is 0.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 128.2% (122.1% domestic bond, 6.0% foreign bond and 0.0% convertible bond). BlackRock Inflation Protected Bond Instl has -34.7% of the portfolio in cash.
Assets Under Management
The fund has $891 million in total assets, which is above the $869 million average for the Inflation-Protected 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.
BPRIX 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 Inflation Protected Bond Instl expense ratio is high compared to funds in the Inflation-Protected Bond category. BlackRock Inflation Protected Bond Instl has an expense ratio of 0.92%, which is 26% 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 Inflation Protected Bond Instl has a portfolio turnover rate of 220%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 72% for the Inflation-Protected Bond category.
Recently, in the month of July 2026, BlackRock Inflation Protected Bond Instl returned -0.9%, which earned it a grade of D, as the Inflation-Protected Bond category had an average return of -0.8%. 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 Inflation Protected Bond Instl has a trailing yield of 5.58%, which is above the 4.20% category average. The fund normally distributes its income monthly and its capital gains annually.
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 Inflation Protected Bond Instl Grades
Year to date, the fund has returned 0.4%, 0.1 percentage points better than the category, which translates into a grade of B. The fund has returned 2.3% over the past year (grade of C), 3.4% over the past three years (grade of C) and 0.3% per year over the past five years (grade of B) and 2.4% per year over the past 10 years (grade of B).
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BPRIX 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 |
|
| BPRIX Return (NAV) | -0.9% | -1.2% | 2.3% | 3.4% | 0.3% | 2.4% |
| BPRIX Grade | D | C | C | C | B | B |
| +/- Category | -0.1% | -0.0% | -0.0% | -0.0% | 0.3% | 0.3% |
| Inflation-Protected Bond Avg | -0.8% | -1.2% | 2.4% | 3.4% | -0.0% | 2.1% |
| BPRIX Tax Cost Ratio | na | na | 2.3% | 1.8% | 2.0% | 1.5% |
BPRIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BPRIX Return (NAV) | 0.4% | 6.8% | 1.9% | 3.7% | -11.5% | 5.7% | 11.8% | 8.3% | -1.9% | 3.1% | 4.1% |
| BPRIX Grade | B | B | C | B | B | B | B | B | C | B | D |
| +/- Category | 0.1% | 0.1% | 0.1% | 0.4% | 0.8% | 0.7% | 0.7% | 0.2% | 0.1% | 0.2% | -0.4% |
| Inflation-Protected Bond Avg | 0.2% | 6.7% | 1.8% | 3.4% | -12.3% | 5.1% | 11.1% | 8.0% | -1.9% | 2.9% | 4.5% |
| Risk Measures | |
| Standard Deviation: | 4.3% |
| Total Risk Index: | 0.35 - Low |
| Category Risk Index: | 0.94 - Average |
| Category Risk Grade: | C (50% Rank) |
| Beta: | 0.71 |
| R-Squared: | 87% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na Moderate Sensitivity |
| Yield: | 5.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1691 Mil |
| Fund Total Assets: | $ 891 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 220% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 2.4 years | |||
| Average Tenure: 1.9 years | |||
| Managers (Year): Sjogren Johan (2024), Segall Harrison (2024), Brownback Russell (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 785 |
| % in Top 10 Holdings: | 36.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.9% |
Portfolio Allocation |
|
| Domestic Stock: | -0.0% |
| Foreign Stock: | 0.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 122.1% |
| Foreign Bond: | 6.0% |
| Convertible Bond: | 0.0% |
| Other: | 5.7% |
| Cash: | -34.7% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: | http://www.blackrock.com |
| Status: | Open |
| Inception Date: | June 28, 2004 |
| 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 (%): | 0.92% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.73% |
| Share Class: | BlackRock Inflation Protected Bond Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
