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VY® BlackRock Inflation Protected Bond Portfolio

mutual fund
IBRAX
Payout Change
Pending
Price as of:
$8.83 +0.0 +0.0%
primary theme
TIPS
IBRAX (Mutual Fund)

VY® BlackRock Inflation Protected Bond Portfolio

Payout Change
Pending
Price as of:
$8.83 +0.0 +0.0%
primary theme
TIPS
IBRAX (Mutual Fund)

VY® BlackRock Inflation Protected Bond Portfolio

Payout Change
Pending
Price as of:
$8.83 +0.0 +0.0%
primary theme
TIPS

Name

As of 12/10/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.83

$214 M

1.55%

$0.14

1.27%

Vitals

YTD Return

3.6%

1 yr return

5.5%

3 Yr Avg Return

-2.0%

5 Yr Avg Return

1.4%

Net Assets

$214 M

Holdings in Top 10

27.7%

52 WEEK LOW AND HIGH

$8.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.27%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 156.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/10/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.83

$214 M

1.55%

$0.14

1.27%

IBRAX - Profile

Distributions

  • YTD Total Return 3.6%
  • 3 Yr Annualized Total Return -2.0%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 2.14%
DIVIDENDS
  • Dividend Yield 1.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    VY® BlackRock Inflation Protected Bond Portfolio
  • Fund Family Name
    Voya mutual funds
  • Inception Date
    Apr 30, 2007
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Christopher Allen

Fund Description

Under normal market conditions, the Portfolio invests at least 80% of its net assets (plus borrowings for investment purposes) in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities, and U.S. and non-U.S. corporations. Inflation-indexed bonds are debt instruments that are structured to provide protection against inflation. The Portfolio will provide shareholders with at least 60 days' prior notice of any change in the investment policy. For purposes of satisfying the 80% requirement, the Portfolio may also invest in derivative instruments that have economic characteristics similar to inflation-indexed bonds. The value of an inflation-indexed bond's principal or the interest income paid on the bond is adjusted to track changes in an official inflation measure. The U.S. Treasury uses the Consumer Price Index for Urban Consumers as the inflation measure. Inflation-indexed bonds issued by a foreign government are generally adjusted to reflect a comparable inflation index, calculated by the foreign government. “Real return” equals total return less the estimated cost of inflation, which is typically measured by the change in an official inflation measure. The Portfolio maintains an average portfolio duration that is within ±20% of the duration of the Bloomberg U.S. Treasury Inflation Protected Securities Index (the Portfolio's benchmark). Duration is a commonly used measure of risk in debt instruments as it incorporates multiple features of the debt instruments (e.g., yield, coupon, maturity, etc.) into one number. Duration is a measure of sensitivity of the price of a debt instrument to a change in interest rates. Duration is a weighted average of the times that interest payments and the final return of principal are received. The weights are the amounts of the payments discounted by the yield-to-maturity of the debt instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest rate risk or reward for the debt instrument prices. For example, the price of a bond with an average duration of 5 years would be expected to fall approximately 5% if market interest rates rose by 1%. Conversely, the price of a bond with an average duration of 5 years would be expected to rise approximately 5% if market interest rates dropped by 1%.The Portfolio may invest up to 20% of its assets in non-investment-grade bonds (high-yield or junk bonds) or debt instruments of emerging market issuers. The Portfolio may also invest up to 20% of its assets in non-dollar denominated securities of non-U.S. issuers, and may invest, without limit, in U.S. dollar denominated securities of non-U.S. issuers.The Portfolio may also purchase: U.S. Treasuries and agency securities, commercial and residential mortgage-backed securities, collateralized mortgage obligations, investment-grade corporate bonds, and asset-backed securities. Securities are purchased for the Portfolio when the sub-adviser or the sub-sub-adviser (together, the “Sub-Adviser”) believe that they have the potential for above-average real return. The Portfolio measures its performance against the benchmark.Non-investment grade bonds acquired by the Portfolio will generally be in the lower rating categories of the major rating agencies (BB or lower by S&P Global Ratings or Ba or lower by Moody's Investors Service, Inc.) or will be determined by the Sub-Adviser to be of similar quality. Split rated bonds will be considered to have the higher of the two credit ratings. Split rated bonds are bonds that receive different ratings from two or more rating agencies.The Sub-Adviser may, when consistent with the Portfolio's investment goal, buy or sell options or futures, or enter into credit default swaps and interest rate or foreign currency transactions, including swaps (collectively, commonly known as “derivatives”). The Portfolio typically uses derivatives as a substitute for taking a position in the underlying asset and/or as part of a strategy designed to reduce exposure to other risks, such as interest rate or currency risk. The Portfolio may also use derivatives to enhance returns, in which case their use would involve leveraging risk. The Portfolio may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls).The Portfolio may also invest in other investment companies, including exchange-traded funds (“ETFs”), to the extent permitted under the Investment Company Act of 1940, as amended, and the rules and regulations thereunder, and under the terms of applicable no-action relief or exemptive orders granted thereunder.The Sub-Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising.The Portfolio may lend portfolio securities on a short-term or long-term basis, up to 33 13% of its total assets.
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IBRAX - Performance

Return Ranking - Trailing

Period IBRAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.6% -11.1% 11.9% 62.69%
1 Yr 5.5% -8.5% 15.7% 72.64%
3 Yr -2.0%* -15.6% 4.9% 72.96%
5 Yr 1.4%* -7.2% 5.0% 82.01%
10 Yr 1.4%* -2.2% 3.7% 80.77%

* Annualized

Return Ranking - Calendar

Period IBRAX Return Category Return Low Category Return High Rank in Category (%)
2023 0.7% -8.7% 5.1% 35.68%
2022 -16.7% -52.3% -4.0% 49.49%
2021 2.2% -7.9% 7.7% 16.15%
2020 9.0% -29.4% 23.0% 33.86%
2019 5.6% 0.8% 16.7% 54.79%

Total Return Ranking - Trailing

Period IBRAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.6% -11.1% 11.9% 62.69%
1 Yr 5.5% -8.5% 15.7% 72.64%
3 Yr -2.0%* -15.6% 4.9% 72.96%
5 Yr 1.4%* -7.2% 5.0% 82.01%
10 Yr 1.4%* -2.2% 3.7% 80.77%

* Annualized

Total Return Ranking - Calendar

Period IBRAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.1% -5.2% 9.5% 34.67%
2022 -13.0% -40.1% 9.2% 88.78%
2021 4.2% -2.7% 37.6% 84.38%
2020 10.7% -0.5% 27.5% 35.98%
2019 7.8% 2.8% 19.3% 40.96%

NAV & Total Return History


IBRAX - Holdings

Concentration Analysis

IBRAX Category Low Category High IBRAX % Rank
Net Assets 214 M 963 K 51.8 B 83.58%
Number of Holdings 805 2 1463 5.47%
Net Assets in Top 10 59.2 M 913 K 25.5 B 84.08%
Weighting of Top 10 27.70% 9.4% 100.0% 88.50%

Top 10 Holdings

  1. United States Treasury Inflation Indexed Bonds 3.92%
  2. United States Treasury Inflation Indexed Bonds 3.69%
  3. United States Treasury Inflation Indexed Bonds 3.62%
  4. United States Treasury Inflation Indexed Bonds 3.55%
  5. United States Treasury Inflation Indexed Bonds 3.35%
  6. United States Treasury Inflation Indexed Bonds 3.11%
  7. United States Treasury Inflation Indexed Bonds 1.81%
  8. United States Treasury Note/Bond 1.57%
  9. United States Treasury Inflation Indexed Bonds 1.55%
  10. United States Treasury Inflation Indexed Bonds 1.54%

Asset Allocation

Weighting Return Low Return High IBRAX % Rank
Bonds
98.38% 0.00% 206.20% 42.29%
Other
1.51% -58.58% 66.48% 42.29%
Cash
1.42% -42.00% 15.77% 21.89%
Convertible Bonds
0.79% 0.00% 3.96% 13.93%
Stocks
0.00% 0.00% 100.03% 61.19%
Preferred Stocks
0.00% 0.00% 1.89% 65.17%

Bond Sector Breakdown

Weighting Return Low Return High IBRAX % Rank
Government
57.47% 6.70% 112.97% 91.04%
Corporate
19.56% 0.00% 50.64% 10.95%
Securitized
14.41% 0.00% 58.03% 10.95%
Cash & Equivalents
1.42% 0.00% 15.13% 19.90%
Derivative
0.03% -26.67% 16.13% 62.69%
Municipal
0.00% 0.00% 1.28% 69.65%

Bond Geographic Breakdown

Weighting Return Low Return High IBRAX % Rank
US
94.88% 0.00% 184.29% 62.19%
Non US
3.50% 0.00% 42.19% 16.92%

IBRAX - Expenses

Operational Fees

IBRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.27% 0.03% 22.29% 16.58%
Management Fee 0.54% 0.00% 0.99% 93.53%
12b-1 Fee 0.60% 0.00% 1.00% 75.28%
Administrative Fee N/A 0.01% 0.40% 42.86%

Sales Fees

IBRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

IBRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

IBRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 156.00% 0.00% 246.00% 96.88%

IBRAX - Distributions

Dividend Yield Analysis

IBRAX Category Low Category High IBRAX % Rank
Dividend Yield 1.55% 0.00% 14.25% 48.76%

Dividend Distribution Analysis

IBRAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

IBRAX Category Low Category High IBRAX % Rank
Net Income Ratio 2.14% -0.06% 6.71% 85.35%

Capital Gain Distribution Analysis

IBRAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Distributions History

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IBRAX - Fund Manager Analysis

Managers

Christopher Allen


Start Date

Tenure

Tenure Rank

Mar 15, 2017

5.21

5.2%

Chris Allen, CFA, is a senior Portfolio Manager for the Fundamental European Bond team within BlackRock's Global Fixed Income Group. He is the Lead Manager on Euro Government and Inflation Linked Strategies and manages Institutional and Retail mandates. He is Co-Portfolio Manager on the BlackRock Global Funds (BGF) Euro Short Duration Bond Fund which is one of the biggest BlackRock funds in the European BGF range. Mr. Allen's service with the firm dates back to 2004, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. Mr. Allen began his career at MLIM as a member of the graduate training program and he initially managed Global Bond mandates before joining the Euro Fixed Income team in 2006. Mr. Allen earned a MA degree, with First Class Honours, in Mathematics from Oxford University in 2004.

Akiva Dickstein


Start Date

Tenure

Tenure Rank

Mar 31, 2018

4.17

4.2%

Akiva Dickstein, Managing Director, is Head of Customized Core Portfolios within BlackRock's Americas Fixed Income Alpha Strategies and a member of the Americas Fixed Income Executive Team. Mr. Dickstein has been the lead portfolio manager on BlackRock's mortgage portfolios since joining BlackRock in 2009. Prior to that, Mr. Dickstein spent eight years at Merrill Lynch, where he served as Managing Director and head of the U.S. Rates & Structured Credit Research Group. He was responsible for the team that produced MBS, ABS, CMBS, Treasuries, swaps, and interest rate derivatives research. Mr. Dickstein's publications on MBS strategy included the weekly Mortgage Investor as well as numerous lengthier articles on topics such as optimal loan modifications, the valuation of credit-sensitive MBS and ABS, and the pricing of mortgage derivatives, options, and pass-throughs. In addition, he developed Merrill's prepayment models for fixed rate and hybrid MBS. From 1993 to 2001, Mr. Dickstein was with Lehman Brothers, most recently as a Senior Vice President in Mortgage Derivatives Trading. In this role, he traded mortgage derivatives and developed Lehman's credit default model. He joined Lehman as a mortgage and asset-backed securities analyst and was named to Institutional Investor's All American Fixed Income Research Team in pass-throughs, non-agency mortgages, and asset-backed securities. Mr. Dickstein earned a BA degree in economics, summa cum laude, from Yale University in 1990, and an MA degree in physics from Princeton University in 1993.

David Rogal


Start Date

Tenure

Tenure Rank

Dec 31, 2021

0.41

0.4%

Mr. Rogal began his career at BlackRock in 2006 as an analyst in the Financial Institutions Group. Mr. Rogal earned a BA degree in economics and biology from Cornell University in 2006, with concentrations in statistics and genetics. He is a member of the Phi Beta Kappa society, for which he currently serves on the alumni board of directors.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 20.51 6.56 11.1