Boston, MA – Investors considering the Low Duration Bond Fund should be aware of the risks involved in actively managed funds. The fund’s characteristics can vary, and fluctuations in bond values can impact the value of investments based on market conditions.

Fixed income risks, including interest-rate and credit risk, are common in bond investments. When interest rates rise, bond values typically decline, while credit risk refers to the possibility of the bond issuer being unable to make payments. Additionally, securities like mortgage- or asset-backed securities may be prepaid at any time, affecting their yield and market value.

Investing in international markets adds special risks like political risks, currency fluctuations, and volatility, which may be more pronounced in emerging markets. To manage these risks, the fund may use derivatives to hedge investments or seek higher returns, but this strategy comes with its own set of risks related to liquidity, leverage, and credit that can impact returns and increase volatility.

The opinions expressed by the fund’s portfolio management team as of September 30, 2024, are subject to change as market conditions evolve. Information and opinions are sourced from both proprietary and nonproprietary sources that BlackRock deems reliable but are not guaranteed for accuracy.

It is important for potential investors to carefully review the investment objectives, risks, charges, and expenses of the fund before making a decision. The prospectus and summary prospectus provide detailed information about the fund and other BlackRock offerings, available by calling 800-882-0052 or consulting a financial professional.

BlackRock, Inc. and its affiliates retain all rights to the content, with BLACKROCK as a trademark of the company. Other trademarks mentioned belong to their respective owners. Prepared by BlackRock Investments, LLC, a member of FINRA, this information pertains to the Low Duration Bond Fund as of October 24, 2024.