BlackRock Total Return Fund Q3 2025 Commentary
Summarize this article with:
BlackRock5.08K FollowersFollow5ShareSavePlay(4min)CommentsSummaryThe fund posted returns of 2.51% (Institutional shares) and 2.32% (Investor A shares, without sales charge) for the third quarter of 2025.U.S. high yield credit, structured products, and emerging market debt contributed to performance, while U.S. rates and U.S. investment grade credit sector allocation detracted.U.S. high yield credit contributed to performance as spreads continued to tighten amid strong corporate earnings, economic resilience, and a resumption of the Federal Reserve’s (Fed) rate cuts.The fund’s underweight allocation to 10-year U.S. Treasuries was the largest detractor, with the “belly” of the yield curve rallying as the Fed announced a rate cut and long-term rates fell faster than short-term ones.The fund maintained a modest overweight duration position (6.01 years versus the benchmark’s 5.87 years). koto_feja/E+ via Getty Images The fund posted returns of 2.51% (Institutional shares) and 2.32% (Investor A shares, without sales charge) for the third quarter of 2025. U.S. high yield credit, structured products, and emerging market debt contributed to performance, while U.S. rates and U.S. investment This article was written byBlackRock5.08K FollowersFollowBlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.