BlackRock GNMA boasts a well-resourced team and a thorough process, but its investment niche within the intermediate government Morningstar Category has attracted compelling low-cost passive alternatives for government mortgage exposure in recent years. This eroded edge underpins a downgrade of its Process rating to Average, and it receives a Morningstar Analyst Rating of Neutral across all share classes.
BlackRock GNMA Svc BGPSX
NAV / 1-Day Return
9.47
/
0.00
Total Assets
652.3 Mil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.670%
Expense Ratio
0.730%
Fee Level
Above Average
Longest Manager Tenure
11.15
years
Category
Intermediate Government
Credit Quality / Interest Rate Sensitivity
High / LimitedMin. Initial Investment
5,000
Status
Open
TTM Yield
2.85%
Effective Duration
1.15
years
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will BGPSX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable BGPSX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the BGPSX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of BGPSX’s parent organization’s priorities and whether they’re in line with investors’ interests.
GNMA-focused strategies face tough competition.
