BlackRock Total Return K Fund (MPHQX)

Quick Facts

Ticker:	MPHQX
Inception Date:	12/07/2001
Morningstar Category:	Intermediate Core-Plus Bond
Total Net Assets (mil):	$18,968.56

Investment Strategy

What's this?
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.

Morningstar Style Box™

as of 12/31/2023

What's this?

Overall Morningstar Star Rating™

as of 03/31/2024

What's this?

Out of 557 Intermediate Core-Plus Bond Funds

StarRating

Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.

Total Returns

Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed, may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.

In situations where the net and gross total investment expense figures are different, the mutual fund or the underlying fund in which a Separate Account invests has waived/capped a portion of its management fees through the date displayed in the waiver expiration date or contractual cap expiration date column. Differences may also be shown due to the fund family choosing to pay certain expenses that would normally be payable by the fund. Returns displayed are based on net total investment expense.

Month-End | Quarter-End

Average Annual Total Returns as of 03/31/2024

	1 Month	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception*
Total Return %	1.01	-0.37	-0.37	1.74	-2.53	0.87	2.03	3.68
Bloomberg US Universal Index %	0.98	-0.47	-0.47	2.67	-2.11	0.69	1.83	---
Intermediate Core-Plus Bond Category %	0.97	-0.20	-0.20	2.91	-2.26	0.75	1.67	---
Morningstar Percentile Rankings**	---	---	---	80	61	43	25	---
# of Funds in Category	649	647	647	624	557	527	368	---

* Inception Date: 12/07/2001

**Morningstar percentile rankings are based on total returns.

Expenses

as of 03/31/2024

Total Investment Expense - Gross:	0.38%
Total Investment Expense - Net:	0.38%
Total Investment Expense Gross Per $1,000 Invested:	$3.80

Inv Manager or Sub-Advisor

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BlackRock Advisors, LLC

Portfolio Managers

What's this?

Rick Rieder
Since 08/06/2010
M.B.A. , University of Pennsylvania

David Rogal
Since 01/27/2017
B.A. , Cornell University

Chi Chen
Since 10/27/2022

� 2024 Morningstar, Inc. All Rights Reserved. Part of the mutual fund data contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Returns shown for periods of less than one year are not annualized.

Insurance products and plan administrative services, if applicable, are provided by Principal Life Insurance Company. Securities are offered through Principal Securities, Inc., 800-547-7754, member SIPC and/or independent broker/dealers. Securities sold by a Principal Securities Registered Representative are offered through Principal Securities. Principal Securities and Principal Life are members of the Principal Financial Group�, Des Moines, IA 50392. Certain investment options may not be available in all states or U.S. commonwealths.

Investors should carefully consider a mutual fund's investment objectives, risks, charges, and expenses prior to investing. A prospectus, or summary prospectus if available, containing this and other information can be obtained by contacting a financial professional, visiting principal.com, or calling 1-800-547-7754. Read the prospectus carefully before investing.

Not FDIC Insured
May Lose Value - Not a Deposit - No Bank Guarantee
Not Insured by any Federal Government Agency

Fees and expenses are only one of several factors that participants and beneficiaries should consider when making investment decisions. The cumulative effect of fees and expenses can substantially reduce the growth of a participant's or beneficiary's retirement account. Participants and beneficiaries can visit the Employee Benefit Security Administration's website for an example demonstrating the long-term effect of fees and expenses.

The Bloomberg US Universal Index measures the performance of USD-denominated, taxable bonds that are rated either investment grade or high-yield. It represents the union of the U.S. Aggregate Index, U.S. Corporate High Yield Index, Investment Grade 144A Index, Eurodollar Index, U.S. Emerging Markets Index, and the non-ERISA eligible portion of the CMBS Index.

Fixed-income and asset allocation investment options that invest in mortgage securities are subject to increased risk due to real estate exposure.

Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Neither the principal of bond investment options nor their yields are guaranteed by the U.S. government.