BlackRock Strategic Income Opportunities Portfolio
Data updated: 2026-08-25
C000202265 — BlackRock Strategic Income Opportunities Portfolio. Long Securitized (MBS/ABS/CMBS) Bond. Holdings, fees, performance and SEC filings.
C000202265 Fund Overview
BlackRock Strategic Income Opportunities Portfolio is a US mutual fund managed by BlackRock Funds V, categorised as Long Securitized (MBS/ABS/CMBS) Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: BlackRock Funds V
- Category: Long Securitized (MBS/ABS/CMBS) Bond
- Assets under management: $48.40B
- 1-year return: 5.1%
- SEC CIK: 0001738078
- SEC series ID: S000062358
- Share class ID: C000202265
C000202265 Investment Objective and Strategy
BlackRock Strategic Income Opportunities Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by BlackRock Funds V.
Investment objective
The BlackRock Strategic Income Opportunities Portfolio (the Fund ) seeks total return as is consistent with preservation of capital.
Principal investment strategy
Under normal market conditions, the Fund will invest in a combination of fixed-income securities, including, but not limited to: high yield securities, international securities, emerging markets debt and mortgages. Depending on market conditions, the Fund may invest in other market sectors. Fixed-income securities are debt obligations such as bonds and debentures, U.S. Government securities, debt obligations of domestic and non-U.S. corporations, debt obligations of non-U.S. governments and their political subdivisions, asset-backed securities, various mortgage-backed securities (both residential and commercial), other floating or variable rate obligations, convertible securities, municipal obligations and zero coupon debt securities. The Fund may invest in preferred securities, illiquid investments, ETFs, including affiliated ETFs, and corporate loans.
The Fund may have short positions in to-be-announced ( TBA ) mortgage-backed securities without limit. The Fund may invest significantly in non-investment grade bonds (high yield or junk bonds). Non-investment grade bonds acquired by the Fund will generally be in the lower rating categories of the major rating agencies (BB or lower by S&P Global Ratings, a division of S&P Global, Inc., or Ba or lower by Moodys Investors Service, Inc.) or will be determined by the management team to be of similar quality. Split rated bonds will be considered to have the higher credit rating. The Fund may invest up to 15% of its net assets in collateralized debt obligations (CDOs), of which 10% (as a percentage of the Funds net assets) may be in collateralized loan obligations (CLOs). The Fund may also invest significantly in non-dollar denominated bonds and bonds of emerging market issuers.
The Funds investment in non-dollar denominated bonds may be on a currency hedged or unhedged basis. The management team may, when consistent with the Funds investment goal, buy or sell options or futures on a security or an index of securities, or enter into swap agreements, including total return, interest rate and credit default swaps, or foreign currency transactions (collectively, commonly known as derivatives). The Fund 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 currency risk. The Fund may also use derivatives for leverage, in which case their use would involve leveraging risk. The Fund 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 mortgage dollar rolls, which involve a sale by the Fund of a mortgage-backed security concurrently with an agreement by the Fund to repurchase a similar security at a later date at an agreed-upon price).
The Fund may invest in indexed and inverse floating rate securities. The Fund may seek to provide exposure to the investment returns of real assets that trade in the commodity markets through investment in commodity-linked derivative instruments and investment vehicles that exclusively invest in commodities such as ETFs, which are designed to provide this exposure without direct investment in physical commodities. The Fund may also gain exposure to commodity markets by investing up to 25% of its total assets in the Subsidiary, a wholly owned subsidiary of the Fund formed in the Cayman Islands, which invests primarily in commodity-related instruments. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
C000202265 Holdings
Top 10 holdings of BlackRock Strategic Income Opportunities Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Federal National Mortgage Association or Federal Home Loan Mortgage Corp. | 6.38% |
| Kingdom of Spain | 3.30% |
| Federal National Mortgage Association or Federal Home Loan Mortgage Corp. | 3.21% |
| Republic of Italy | 2.68% |
| Federal National Mortgage Association or Federal Home Loan Mortgage Corp. | 2.16% |
| Federal National Mortgage Association or Federal Home Loan Mortgage Corp. | 1.92% |
| Federal National Mortgage Association | 1.59% |
| Federal National Mortgage Association or Federal Home Loan Mortgage Corp. | 1.50% |
| Federal Home Loan Mortgage Corp. | 1.29% |
| Federal National Mortgage Association or Federal Home Loan Mortgage Corp. | 1.09% |
C000202265 Portfolio Allocation
Asset-class allocation of BlackRock Strategic Income Opportunities Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Securitized | 47.8% |
| Fixed Income | 47.0% |
| Equity | 5.0% |
| Loans | 4.6% |
| Other | 3.5% |
| Cash & Equivalents | 3.2% |
| Real Estate | 0.3% |
C000202265 Performance
Total returns for C000202265 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.8% |
| 1 year | 5.1% |
| 3 years (annualised) | 6.1% |
| 5 years (annualised) | 2.4% |
C000202265 Risk Information
Risk metrics for C000202265, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.0%
C000202265 Costs and Fees
C000202265 costs about $170 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.70%
- Gross expense ratio: 1.71%
- Portfolio turnover: 1006%
- Brokerage commissions: 3.24 bps of average net assets (SEC N-CEN)
C000202265 Cashflows
Over the 12 months to 2026-06, BlackRock Strategic Income Opportunities Portfolio had net inflows of $5.65B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $459.64M |
| 2026-05 | $234.29M |
| 2026-04 | $815.75M |
| 2026-03 | $302.14M |
| 2026-02 | $756.74M |
| 2026-01 | $787.01M |
C000202265 Debt Constituents
Largest debt holdings of BlackRock Strategic Income Opportunities Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Kingdom of Spain | 3.30% |
| Republic of Italy | 2.68% |
| United Kingdom of Great Britain and Northern Ireland | 0.97% |
| Republic of Ireland | 0.73% |
| Republic of South Africa | 0.71% |
| Federative Republic of Brazil | 0.66% |
| United Mexican States | 0.63% |
| Caturus LLC | 0.57% |
| Republic of the Philippines | 0.53% |
| United States of America | 0.53% |
C000202265 Prospectus and SEC Filings
Official BlackRock Strategic Income Opportunities Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-28
- Prospectus (485BPOS) — filed 2025-04-30
- Prospectus (485BPOS) — filed 2024-04-25
- Portfolio holdings (N-PORT) — filed 2026-08-25
- Annual census (N-CEN) — filed 2026-03-16
- Annual census (N-CEN) — filed 2025-03-14
- Annual census (N-CEN) — filed 2024-03-14
- Portfolio holdings, amended (N-PORT/A) — filed 2026-08-25
Related Funds
Other Long Securitized (MBS/ABS/CMBS) Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.