Fund Evaluator:
BlackRock Allc Trgt Shrt Dur Txbl TR (BRASX)
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Best Performing in Miscellaneous Fixed Income Over the Last Year
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Fund Details
BlackRock Allc Trgt Shrt Dur Txbl TR Overview
BlackRock Allc Trgt Shrt Dur Txbl TR (BRASX) is an actively managed Taxable Bond Miscellaneous Fixed Income fund. BlackRock launched the fund in 2004.
The investment seeks to maximize total return. The fund will principally invest in the following securities: commercial and residential mortgage-backed securities; obligations of non-U.S. governments and supra-national organizations, such as the World Bank, which are chartered to promote economic development; obligations of domestic and non-U.S. corporations; asset-backed securities; collateralized mortgage obligations; U.S. Treasury and agency securities; when-issued and delayed delivery securities; derivatives; cash equivalent investments; repurchase agreements and reverse repurchase agreements; and dollar rolls.
About BlackRock Allc Trgt Shrt Dur Txbl TR (BRASX)
There are 4 members of the management team with an average tenure of 6.10 years: Scott MacLellan (2020), Michael Heilbronn (2009), Matthew Wang (2025), Amanda Liu (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 ICE BofA 1-3Y US Trsy TR USD index with a weighting of 100%. BlackRock Allc Trgt Shrt Dur Txbl TR has 799 securities in its portfolio. The top 10 holdings constitute 85.3% 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 Allc Trgt Shrt Dur Txbl TR is part of the Fixed Income global asset class and is within the Taxable Bond fund group. BlackRock Allc Trgt Shrt Dur Txbl TR has 8.8% 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 128.3% (119.6% domestic bond, 8.8% foreign bond and 0.0% convertible bond). BlackRock Allc Trgt Shrt Dur Txbl TR has -28.3% of the portfolio in cash.
Assets Under Management
The fund has $402 million in total assets, which is below the $716 million average for the Miscellaneous Fixed Income 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.
BRASX 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 Allc Trgt Shrt Dur Txbl TR expense ratio is low compared to funds in the Miscellaneous Fixed Income category. BlackRock Allc Trgt Shrt Dur Txbl TR has an expense ratio of 0.00%, which is 100% 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 Allc Trgt Shrt Dur Txbl TR has a portfolio turnover rate of 88%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 109% for the Miscellaneous Fixed Income category.
Recently, in the month of August 2026, BlackRock Allc Trgt Shrt Dur Txbl TR returned 0.3%, which earned it a grade of D, as the Miscellaneous Fixed Income category had an average return of 0.5%. 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 Allc Trgt Shrt Dur Txbl TR has a trailing yield of 4.55%, which is below the 5.72% 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 Allc Trgt Shrt Dur Txbl TR Grades
Year to date, the fund has returned 1.3%, 0.7 percentage points worse than the category, which translates into a grade of D. The fund has returned 3.1% over the past year (grade of D), 5.3% over the past three years (grade of D) and 2.8% per year over the past five years (grade of B) and 2.9% per year over the past 10 years (grade of C).
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BRASX 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 |
|
| BRASX Return (NAV) | 0.3% | 0.6% | 3.1% | 5.3% | 2.8% | 2.9% |
| BRASX Grade | D | B | D | D | B | C |
| +/- Category | -0.2% | 0.3% | -1.7% | -1.3% | 1.0% | 0.0% |
| Miscellaneous Fixed Income Avg | 0.5% | 0.3% | 4.9% | 6.7% | 1.8% | 2.9% |
| BRASX Tax Cost Ratio | na | na | 1.8% | 1.8% | 1.6% | 1.4% |
BRASX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BRASX Return (NAV) | 1.3% | 6.1% | 5.5% | 6.0% | -4.1% | 0.1% | 3.9% | 6.2% | 1.4% | 2.5% | 3.1% |
| BRASX Grade | D | D | C | D | B | D | D | D | B | D | C |
| +/- Category | -0.7% | -1.4% | -0.5% | -2.5% | 6.1% | -2.0% | -2.1% | -2.5% | 1.0% | -2.5% | -1.0% |
| Miscellaneous Fixed Income Avg | 2.0% | 7.5% | 6.0% | 8.6% | -10.2% | 2.2% | 6.0% | 8.7% | 0.4% | 5.0% | 4.1% |
| Risk Measures | |
| Standard Deviation: | 1.7% |
| Total Risk Index: | 0.14 - Low |
| Category Risk Index: | 0.33 - Low |
| Category Risk Grade: | A (11% Rank) |
| Beta: | 0.26 |
| R-Squared: | 82% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 4.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $402 Mil |
| Fund Total Assets: | $ 402 Mil |
| Share Class Type: | S |
| Portfolio Turnover: | 88% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 16.7 years | |||
| Average Tenure: 6.1 years | |||
| Managers (Year): Heilbronn Michael (2009), MacLellan Scott (2020), Wang Matthew (2025), Liu Amanda (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 799 |
| % in Top 10 Holdings: | 85.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 8.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 119.6% |
| Foreign Bond: | 8.8% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -28.3% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-882-0052 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | September 30, 2004 |
| Min. Initial Purchase: | $ 0 |
| 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 (%): | 0.00% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.26% |
| Share Class: | BlackRock Allc Trgt Shrt Dur Txbl TR |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
