Intermediate Core Bond

Summary

The investment seeks to provide investment results that correspond to the total return performance of fixed-income securities in the aggregate, as represented by the Bloomberg U.S. Aggregate Bond Index.
Fund Assets (millions) $3,643.4
Portfolio Managers 3
Fund Inception Jul 2, 1993
Gross Expense Ratio 0.35%
Fund Family BlackRock
Prospectus (PDF)

Returns at NAV

Returns at MOP

Asset Mix

Short % 0% Long %
U.S. Stocks 0.0
0.0
Non-U.S. Stocks 0.0
0.0
U.S. Bonds 0.0
93.1
Non-U.S. Bonds 0.0
6.7
Convertible 0.0
0.0
Preferred 0.0
0.0
Other 0.0
0.0
Cash 3.2
3.3
As of 3/31/2026
Read important information about results and other investment disclosures
This chart tracks a hypothetical investment, with dividends reinvested, through April 30, 2026
BMOAX
Bloomberg US Agg Bond TR USD

Fund Statistics

2.7 years
Average Duration
10.4%
Average Yield
to Maturity
--%
Average Coupon
As of 3/31/2026

Morningstar Style BoxTM— Fixed-Income

No data is available at this time.

Investment Strategy

The fund is a "feeder" fund that invests all of its assets in the Master Portfolio of MIP, which has the same investment objective and strategies as the fund. Under normal circumstances, at least 90% of the value of the fund's assets, plus the amount of any borrowing for investment purposes, is invested in securities comprising the Bloomberg U.S. Aggregate Index.

Fund Facts

Fund Inception Jul 2, 1993
Fund Assets (Millions) $3,643.4
Dividend Distribution Frequency Monthly
Minimum Investment $1,000
Capital Gains Distribution Frequency Annually
Turnover 93%
Fiscal Year-End Dec
Prospectus Date Apr 30, 2026

Returns

Month-End Returns as of 4/30/26

Returns at NAV
| at MOP
Read important information about results and other investment disclosures
BMOAX
Bloomberg US Agg Bond TR USD
ANNUAL RETURNS CHART

Quarter-End Returns as of 3/31/26

Yield

12-Month Distribution Rates (NAV)
3.59%
30-Day SEC Yield (Gross | Net) 4.00% | 4.00%
As of 4/30/2026

Portfolio Management

Read important investment disclosures
Years of Experience With Fund
James Mauro 15 yrs
Jonathan Graves 0 yrs
Marcus Tom 0 yrs
As of 4/30/2026

Ratings & Risk

Morningstar Rating TM


Overall Morningstar RatingTM
Funds rated(417)
3-yr. Morningstar RatingTM
(417 funds rated)
5-yr. Morningstar RatingTM
(382 funds rated)
10-yr. Morningstar RatingTM
(285 funds rated)
Overall Morningstar Risk Below Average
HIGH
LOW
Morningstar Category
Intermediate Core Bond
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 4/30/2026.

Risk Measures

Fund
Standard Deviation
5.06
Sharpe Ratio
-0.19
R-squared
100
Beta
0.99
Capture Ratio (Downside/Upside)
103/97
American Funds and Morningstar Benchmark for the 10 Years Years ending 4/30/26 R-squared, Beta and Capture Ratio calculated using the Morningstar US Core Bd TR USD.

Maturity

1 To 3 Years
21.0%
3 To 5 Years
17.1%
5 To 7 Years
9.8%
7 To 10 Years
9.5%
10 To 15 Years
4.1%
15 To 20 Years
5.6%
20 To 30 Years
30.1%
Over 30 Years
1.1%
Percentage of net assets as of 3/31/2026

Quality Summary

AAA
12.4%
AA
2.1%
A
5.0%
BBB
7.7%
BB
11.6%
B
9.9%
Below B
3.7%
Not Rated
47.7%
Percentage of net assets as of 3/31/2026

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
Cash & Equivalents 3.2%
Derivative 0.0%

Percentage of net assets as of 3/31/2026

Top 10 Holdings

BlackRock Cash Funds Instl SL Agency
3.3%
United States Treasury Notes
0.6%
United States Treasury Notes
0.5%
United States Treasury Notes
0.5%
United States Treasury Notes
0.5%
United States Treasury Notes
0.5%
United States Treasury Notes
0.5%
United States Treasury Notes
0.5%
United States Treasury Notes
0.5%
United States Treasury Notes
0.5%

Percentage of net assets as of 3/31/2026

Geographic Breakdown

Top Countries
United States
93.3%
Supranational
1.1%
United Kingdom
1.1%
Canada
1.1%
Japan
0.6%
Mexico
0.3%
Germany
0.3%
Australia
0.2%
Ireland
0.2%
Philippines
0.1%

Percentage of net assets as of 3/31/2026

Fees & Expenses

Fees

Annual Management Fees 0.04%
Service 12b-1 0.25%
Maximum Sales Charge --
As of each fund's most recent prospectus.

Expense Ratio

Gross
BMOAX 0.35%
Morningstar Category: Intermediate Core Bond 0.74%
Fund as of most recent prospectus. Morningstar Category as of 4/30/26.