BlackRock Core Bond Fund Comment Q2 2024

Important risks: The fund is actively managed and its characteristics will vary. Holdings shown should not be considered a recommendation to buy or sell securities. Bond values ​​fluctuate in price, so the value of your investment may decline depending on market conditions. Fixed income risks include interest rate and credit risk. Usually, when interest rates rise, there is a corresponding fall in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments. The principal of mortgage-backed or asset-backed securities may be prepaid at any time, reducing the yield and market value of such securities. Obligations of U.S. government agencies are backed by varying degrees of credit, but are generally not backed by the full faith and credit of the U.S. government. The Fund may use derivatives to hedge its investments or seek to enhance returns. Derivatives involve liquidity, leverage and credit risks, which can reduce returns and increase volatility. International investments involve special risks, including but not limited to political risk, currency fluctuations, illiquidity and volatility. These risks may be heightened for investments in emerging markets.

The views expressed are those of the fund’s portfolio management team as at 30 June 2024 and may change as subsequent conditions change. Information and opinions are derived from proprietary and non-proprietary sources believed by BlackRock to be reliable, are not necessarily comprehensive and are not guaranteed as to accuracy.

BlackRock provides compensation in connection with obtaining or using third-party ratings and rankings.

1 Class R shares are sold to a limited group of investors, including certain retirement plans. See leaflet for details. 2 The Bloomberg US Aggregate Bond Index covers the entire US investment grade bond market.

You should carefully consider the fund’s investment objectives, risks, fees and expenses before investing. The prospectus and, if available, the summary prospectus contain this and other information about the fund and are available, along with information about other BlackRock funds, by calling 800-882-0052 or from your financial professional. The prospectus should be read carefully before investing.

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Prepared by BlackRock Investments, LLC, Member FINRA.

Not FDIC insured • May lose value • No bank guarantee