Fund Evaluator:
BlackRock Strategic Income Opps K (BSIKX)
Follow This Fund
Best Performing in Nontraditional Bond Over the Last Year
| 11.2% | Artisan Global Unconstrained Investor (APFPX) |
| 6.3% | Goldman Sachs Dynamic Bond Inv (GZIRX) |
| 5.2% | PGIM Absolute Return Bond Z (PADZX) |
| 4.9% | Spectrum Low Volatility Investor (SVARX) |
| 4.8% | Spectrum Unconstrained Investor (SUNBX) |
Fund Details
BlackRock Strategic Income Opps K Overview
BlackRock Strategic Income Opps K (BSIKX) is an actively managed Taxable Bond Nontraditional Bond fund. BlackRock launched the fund in 2016.
The investment seeks total return as is consistent with preservation of capital. The fund will invest in a combination of fixed-income securities, including, but not limited to: high yield securities, international securities, emerging markets debt and mortgages. It may invest significantly in non-investment grade bonds (high yield or junk bonds). It may invest up to 15% of its net assets in collateralized debt obligations, of which 10% (as a percentage of the fund's net assets) may be in collateralized loan obligations.
About BlackRock Strategic Income Opps K (BSIKX)
There are 3 members of the management team with an average tenure of 6.87 years: Rick Rieder (2010), Russell Brownback (2022), Dylan Price (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Universal TR USD index with a weighting of 100% and ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. BlackRock Strategic Income Opps K has 10037 securities in its portfolio. The top 10 holdings constitute 94.7% 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 Strategic Income Opps K is part of the Fixed Income global asset class and is within the Taxable Bond fund group. BlackRock Strategic Income Opps K has 47.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.9%. There is 0.0% allocated to foreign stock, and 1.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 109.3% (61.6% domestic bond, 47.8% foreign bond and 1.4% convertible bond). BlackRock Strategic Income Opps K has 130.4% of the portfolio in cash.
Assets Under Management
The fund has $15 billion in total assets, which is above the $663 million average for the Nontraditional 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.
BSIKX 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 Strategic Income Opps K expense ratio is above average compared to funds in the Nontraditional Bond category. BlackRock Strategic Income Opps K has an expense ratio of 0.63%, which is 55% 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 Strategic Income Opps K has a portfolio turnover rate of 1006%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 304% for the Nontraditional Bond category.
Recently, in the month of July 2026, BlackRock Strategic Income Opps K returned -0.9%, which earned it a grade of F, as the Nontraditional Bond category had an average return of -0.2%. 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 Strategic Income Opps K has a trailing yield of 4.85%, which is below the 4.94% 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 Strategic Income Opps K Grades
Year to date, the fund has returned 1.4%, 0.1 percentage points better than the category, which translates into a grade of C. The fund has returned 5.1% over the past year (grade of B), 6.6% over the past three years (grade of B) and 3.3% per year over the past five years (grade of B) and 3.9% per year over the past 10 years (grade of B).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about BlackRock Strategic Income Opps K, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
BSIKX 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 |
|
| BSIKX Return (NAV) | -0.9% | 0.6% | 5.1% | 6.6% | 3.3% | 3.9% |
| BSIKX Grade | F | B | B | B | B | B |
| +/- Category | -0.7% | 0.2% | 0.7% | 1.0% | 0.8% | 0.7% |
| Nontraditional Bond Avg | -0.2% | 0.4% | 4.4% | 5.6% | 2.5% | 3.1% |
| BSIKX Tax Cost Ratio | na | na | 2.1% | 2.0% | 1.8% | 1.6% |
BSIKX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BSIKX Return (NAV) | 1.4% | 8.7% | 5.4% | 7.4% | -5.6% | 1.1% | 7.3% | 7.8% | -0.5% | 5.0% | 3.7% |
| BSIKX Grade | C | B | D | C | C | C | B | B | C | B | F |
| +/- Category | 0.1% | 1.9% | -0.1% | 0.8% | 0.5% | -0.3% | 1.8% | 1.3% | 0.4% | 0.9% | -2.8% |
| Nontraditional Bond Avg | 1.2% | 6.8% | 5.4% | 6.5% | -6.1% | 1.3% | 5.4% | 6.5% | -0.8% | 4.1% | 6.4% |
| Risk Measures | |
| Standard Deviation: | 3.7% |
| Total Risk Index: | 0.30 - Low |
| Category Risk Index: | 1.04 - Above Average |
| Category Risk Grade: | D (65% Rank) |
| Beta: | 0.61 |
| R-Squared: | 85% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 4.9% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $48384 Mil |
| Fund Total Assets: | $15,870 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 1006% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 16.0 years | |||
| Average Tenure: 6.9 years | |||
| Managers (Year): Rieder Rick (2010), Brownback Russell (2022), Price Dylan (2025) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 10037 |
| % in Top 10 Holdings: | 94.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 47.8% |
Portfolio Allocation |
|
| Domestic Stock: | 1.9% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 1.2% |
| Domestic Bond: | 61.6% |
| Foreign Bond: | 47.8% |
| Convertible Bond: | 1.4% |
| Other: | -144.1% |
| Cash: | 130.4% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-537-4942 |
| Website: | http://www.blackrock.com |
| Status: | Open |
| Inception Date: | March 28, 2016 |
| Min. Initial Purchase: | $5,000,000 |
| 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 (%): | 0.63% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.42% |
| Share Class: | BlackRock Strategic Income Opps Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
