Fund Evaluator:
BlackRock Total Return Inv A1 (MEHQX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
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| 4.9% | Diamond Hill Core Plus Bond I (DHNIX) |
| 4.7% | Carillon Reams Core Plus Bond I (SCPZX) |
| 4.7% | Cavanal Hill Strategic Enhanced Yld Inv (APENX) |
Fund Details
BlackRock Total Return Inv A1 Overview
BlackRock Total Return Inv A1 (MEHQX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. BlackRock launched the fund in 2007.
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 A1 (MEHQX)
There are 5 members of the management team with an average tenure of 4.39 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 A1 has 8829 securities in its portfolio. The top 10 holdings constitute 100.4% 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 A1 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. BlackRock Total Return Inv A1 has 16.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -0.6%. There is 0.1% allocated to foreign stock, and 0.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 110.7% (94.4% domestic bond, 16.3% foreign bond and 0.3% convertible bond). BlackRock Total Return Inv A1 has 66.8% of the portfolio in cash.
Assets Under Management
The fund has $13 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.
MEHQX 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 A1 expense ratio is above average compared to funds in the Intermediate Core-Plus Bond category. BlackRock Total Return Inv A1 has an expense ratio of 0.60%, which is 23% lower than its category average, making the fund expense ratio grade a C. 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 A1 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 180% for the Intermediate Core-Plus Bond category.
Recently, in the month of June 2026, BlackRock Total Return Inv A1 returned 0.5%, which earned it a grade of A, as the Intermediate Core-Plus Bond category had an average return of 0.3%. 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 A1 has a trailing yield of 4.41%, which is above the 4.29% 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 A1 Grades
Year to date, the fund has returned 1.1%, 0.4 percentage points better than the category, which translates into a grade of A. The fund has returned 4.7% over the past year (grade of A), 4.4% over the past three years (grade of D) and 0.1% per year over the past five years (grade of D) and 1.9% per year over the past 10 years (grade of D).
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MEHQX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MEHQX Return (NAV) | 0.5% | 1.4% | 4.7% | 4.4% | 0.1% | 1.9% |
| MEHQX Grade | A | A | A | D | D | D |
| +/- Category | 0.2% | 0.4% | 0.8% | -0.2% | -0.2% | -0.2% |
| Intermediate Core-Plus Bond Avg | 0.3% | 0.9% | 3.9% | 4.7% | 0.3% | 2.1% |
| MEHQX Tax Cost Ratio | na | na | 1.8% | 1.8% | 1.6% | 1.5% |
MEHQX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MEHQX Return (NAV) | 1.1% | 8.1% | 1.5% | 5.8% | -14.3% | -0.8% | 8.8% | 9.7% | -1.0% | 4.1% | 3.4% |
| MEHQX Grade | A | A | D | D | D | C | C | B | C | D | D |
| +/- Category | 0.4% | 0.7% | -0.8% | -0.3% | -0.9% | -0.2% | 0.1% | 0.5% | -0.1% | -0.3% | -1.0% |
| Intermediate Core-Plus Bond Avg | 0.7% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 5.9% |
| Total Risk Index: | 0.48 - Below Average |
| Category Risk Index: | 1.06 - Above Average |
| Category Risk Grade: | D (78% Rank) |
| Beta: | 1.05 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 4.4% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $18058 Mil |
| Fund Total Assets: | $ 14 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 595% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 15.9 years | |||
| Average Tenure: 4.4 years | |||
| Managers (Year): Rieder Rick (2010), Chen Chi (2022), Summers Sam (2025), Mehta Siddharth (2025), Brownback Russell (2025) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 8829 |
| % in Top 10 Holdings: | 100.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 16.4% |
Portfolio Allocation |
|
| Domestic Stock: | -0.6% |
| Foreign Stock: | 0.1% |
| Preferred Stock: | 0.5% |
| Domestic Bond: | 94.4% |
| Foreign Bond: | 16.3% |
| Convertible Bond: | 0.3% |
| Other: | -77.8% |
| Cash: | 66.8% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: | www.blackrock.com |
| Status: | Closed |
| Inception Date: | September 24, 2007 |
| Min. Initial Purchase: | $1,000 |
| 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: | 0.10% |
Expenses and Fees | |
| Expense Ratio (%): | 0.60% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | BlackRock Total Return K |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
