Fund Evaluator:
BlackRock Total Return Inv C (MFHQX)
Follow This Fund
Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 4.1% | Diamond Hill Core Plus Bond Y (DHNYX) |
| 3.9% | Diamond Hill Core Plus Bond I (DHNIX) |
| 3.7% | Diamond Hill Core Plus Bond Investor (DHNAX) |
| 3.5% | Weitz Core Plus Income Investor (WCPNX) |
| 3.4% | Nuveen Core Plus Bond I (TCBHX) |
Fund Details
BlackRock Total Return Inv C Overview
BlackRock Total Return Inv C (MFHQX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. BlackRock launched the fund in 2001.
The investment seeks to realize a total return that exceeds that of the Bloomberg U.S. Aggregate Bond Index. The fund typically invests more than 90% of its assets in a diversified portfolio of fixed-income securities such as corporate bonds and notes, mortgage-backed securities, asset-backed securities, convertible securities, preferred securities and government obligations. It normally invests at least 80% of its assets in bonds and invests primarily in investment grade fixed-income securities. The fund is a "feeder" fund that invests all of its assets in a corresponding "master" portfolio.
About BlackRock Total Return Inv C (MFHQX)
There are 5 members of the management team with an average tenure of 4.47 years: Rick Rieder (2010), Siddharth Mehta (2025), Russell Brownback (2025), Chi Chen (2022), Sam Summers (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. BlackRock Total Return Inv C has 9321 securities in its portfolio. The top 10 holdings constitute 50.4% 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 Total Return Inv C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. BlackRock Total Return Inv C has 16.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.8%. There is 0.6% allocated to foreign stock, and 0.6% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 151.2% (135.8% domestic bond, 15.5% foreign bond and 0.3% convertible bond). BlackRock Total Return Inv C has -67.5% of the portfolio in cash.
Assets Under Management
The fund has $18 million in total assets, which is below the $1 billion average for the Intermediate Core-Plus 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.
MFHQX 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 Total Return Inv C expense ratio is high compared to funds in the Intermediate Core-Plus Bond category. BlackRock Total Return Inv C has an expense ratio of 1.45%, which is 86% higher than its category average, making the fund expense ratio grade a F. 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 Total Return Inv C has a portfolio turnover rate of 595%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 181% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, BlackRock Total Return Inv C returned -1.6%, which earned it a grade of F, as the Intermediate Core-Plus Bond category had an average return of -1.3%. 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 Total Return Inv C has a trailing yield of 3.62%, which is below the 4.36% 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 Total Return Inv C Grades
Year to date, the fund has returned -0.9%, 0.3 percentage points worse than the category, which translates into a grade of D. The fund has returned 2.4% over the past year (grade of D), 3.1% over the past three years (grade of F) and -1.2% per year over the past five years (grade of F) and 0.8% per year over the past 10 years (grade of F).
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 Total Return Inv C, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
MFHQX 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 |
|
| MFHQX Return (NAV) | -1.6% | -0.7% | 2.4% | 3.1% | -1.2% | 0.8% |
| MFHQX Grade | F | C | D | F | F | F |
| +/- Category | -0.3% | -0.0% | -0.3% | -1.1% | -1.0% | -1.0% |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| MFHQX Tax Cost Ratio | na | na | 1.5% | 1.5% | 1.2% | 1.1% |
MFHQX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MFHQX Return (NAV) | -0.9% | 7.1% | 0.6% | 4.9% | -15.1% | -1.7% | 7.8% | 8.7% | -1.9% | 3.2% | 2.5% |
| MFHQX Grade | D | D | F | F | F | F | D | D | F | F | F |
| +/- Category | -0.3% | -0.2% | -1.6% | -1.2% | -1.7% | -1.1% | -0.8% | -0.4% | -1.0% | -1.2% | -1.8% |
| Intermediate Core-Plus Bond Avg | -0.6% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 6.0% |
| Total Risk Index: | 0.49 - Below Average |
| Category Risk Index: | 1.07 - Above Average |
| Category Risk Grade: | D (79% Rank) |
| Beta: | 1.06 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 3.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $18075 Mil |
| Fund Total Assets: | $ 18 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 595% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 16.0 years | |||
| Average Tenure: 4.5 years | |||
| Managers (Year): Rieder Rick (2010), Chen Chi (2022), Summers Sam (2025), Mehta Siddharth (2025), Brownback Russell (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 9321 |
| % in Top 10 Holdings: | 50.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 16.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.8% |
| Foreign Stock: | 0.6% |
| Preferred Stock: | 0.6% |
| Domestic Bond: | 135.8% |
| Foreign Bond: | 15.5% |
| Convertible Bond: | 0.3% |
| Other: | 14.1% |
| Cash: | -67.5% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | December 7, 2001 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.45% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | BlackRock Total Return K |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
