PERFORMANCE

as of
  1y 3y 5y 10y Incept.  
1.41 -0.90 - - 0.51
-3.92 -2.66 - - -0.93
Benchmark (%)   0.02 0.06 - - 0.06
Morningstar Category Avg. (%)   0.44 1.72 1.42 1.93 -
Lipper Category Avg. (%)   1.38 7.58 7.30 4.31 -
Lipper Ranking   150/289 142/148
as of
  1m 3m YTD 1y 3y 5y 10y Incept.  
-1.56 -2.23 -1.18 1.41 -2.67 - - 1.94
-6.73 -7.36 -6.36 -3.92 -7.78 - - -3.42
Benchmark (%)   0.00 0.01 0.01 0.02 0.19 - - 0.22
Morningstar Category Avg. (%)   -0.62 -0.37 0.29 0.44 5.24 7.30 21.03 -
Lipper Category Avg. (%)   -1.25 -0.45 1.17 1.38 25.39 44.68 58.80 -
Lipper Ranking   150/289 142/148
as of
  2010 2011 2012 2013 2014
Total Return (%)   - - 7.25 -1.30 -2.30
Annual w/ Sales Charge (%)   - - 1.62 -6.48 -7.42
Benchmark (%)   - - 0.11 0.07 0.03
Morningstar Category Avg. (%)   -2.00 -0.30 0.18 2.92 0.76


The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.
Performance chart data not available for display.
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

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Ex-Date Payable Date Record Date Total Distribution   Income ST Cap Gains LT Cap Gains

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Year Total Distribution   Income ST Cap Gains LT Cap Gains

Past distributions are not indicative of future distributions.



The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

Issuers

  • Top Long Issuers

as of 30-Jun-2015

Name Fund Weight (%)
INNOLUX CORP 2.39
JBS SA 2.13
GRUMA SAB DE CV 1.96
HON HAI PRECISION INDUSTRY CO LTD 1.89
FIRSTRAND LTD 1.71

% of Market Value

  • Top Short Issuers

as of 30-Jun-2015

Name Fund Weight (%)
CIELO SA -2.45
WOOLWORTHS HOLDINGS LTD -2.44
MEDIATEK INC -2.36
BRAIT SE -2.16
TURKCELL ILETISIM HIZMET AS -1.89

% of Market Value

Placeholder Disclaimer

Exposure Breakdowns

as of 30-Jun-2015

% of Market Value

Information Technology

-16.94

|

22.84

Financials

-13.89

|

16.03

Industrials

-12.77

|

16.49

Consumer Discretionary

-11.52

|

12.18

Consumer Staples

-9.75

|

11.06

  • Long

  • Short

  • Net

as of 30-Jun-2015

% of Market Value

Emerging Markets

-68.81

|

89.94

Cash and Derivatives

-20.76

|

100.17

North America

-11.59

|

11.66

Europe

-3.79

|

3.16

Asia Pacific Basin

-3.36

|

3.36

  • Long

  • Short

  • Net

as of 30-Jun-2015

% of Market Value

Cash and Derivatives

-20.76

|

100.17

Taiwan (Republic of China)

-14.19

|

17.78

China

-12.22

|

17.31

United States

-11.56

|

11.63

South Africa

-9.95

|

8.18

  • Long

  • Short

  • Net

as of 30-Jun-2015

% of Market Value

mkt Cap greater than 20B

-13.44

|

20.00

Mkt Cap 10-20B

-15.12

|

9.85

Mkt Cap 5-10B

-26.72

|

27.59

Mkt Cap 2-5B

-20.79

|

30.17

Mkt Cap 1-2B

-8.07

|

11.70

  • Long

  • Short

  • Net

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management.

Allocations are subject to change.

Ratings

  • Lipper Leader Ratings
  • Preservation   :
     
  • Tax Efficiency   :
     
  • Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of 30-Jun-2015 out of 147, 11,330, 148, 58 and 148 Funds, respectively in Lipper's Emerging Markets Funds classification.

PORTFOLIO MANAGEMENT

Daniel Blumhardt
  • Daniel Blumhardt
Clint Newman
  • Clint Newman

KEY FACTS

Size of Class (Millions)

as of 31-Jul-2015

$19.0 M
Size of Fund (Millions)

as of 31-Jul-2015

$428.7 M
Asset Class Alternative
Morningstar Category Market Neutral
Lipper Classification Emerging Markets Funds
Benchmark Index BofA ML 3 Month Treasury Bill Index (G0O1)
CUSIP 091936724
Inception Date Oct 6, 2011

Net, Including Investment Related Expenses   2.18%
Net, Excluding Investment Related Expenses 2.00%
Expense Ratio 2.19%

Max Offer Price

as of 31-Jul-2015

$10.31
Distribution Frequency   Annual
Open to New Investors Yes
Turnover Percent

as of -

-

PORTFOLIO CHARACTERISTICS

P/E Ratio - Long

as of 30-Jun-2015

0.00
P/E Ratio - Short

as of 30-Jun-2015

15.38
Market Cap - Long (Millions)

as of 30-Jun-2015

$0.0 M
Market Cap - Short (Millions)

as of 30-Jun-2015

$11,803.6 M

30 Day SEC Yield  

as of -

-
Unsubsidized 30-Day SEC Yield  

as of -

-

Effective Duration  

as of -

-

Yield to Worst  

as of -

-

This information must be preceded or accompanied by a current prospectus. For standardized performance, please click on the "Returns" tab above.

More Products

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing.

The fund is actively managed and its characteristics will vary.

Stock values fluctuate in price so the value of your investment can go down depending on market conditions.

International investing involves special risks including, but not limited to currency fluctuations, illiquidity and volatility. These risks may be heightened for investments in emerging markets.

The issuers of unsponsored depositary receipts are not obligated to disclose information that is, in the United States, considered material.

Investments in emerging markets may be considered speculative and are more likely to experience hyperinflation and currency devaluations, which adversely affect returns. In addition, many emerging securities markets have lower trading volumes and less liquidity.

Investing in long/short strategies presents the opportunity for significant losses, including the loss of your total investment. Such strategies have the potential for heightened volatility and in general, are not suitable for all investors.

The fund may use derivatives to hedge its investments or to seek to enhance returns. Derivatives entail risks relating to liquidity, leverage and credit that may reduce returns and increase volatility.

The fund may engage in active and frequent trading, resulting in short-term capital gains or losses that could increase an investors tax liability.

Short-selling entails special risks. If the fund makes short sales in securities that increase in value, the fund will lose value. Any loss on short positions may or may not be offset by investing short-sale proceeds in other investments.

Performance results reflect past performance and are no guarantee of future results. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of all dividends. Performance information shown without sales charge would have been lower if the applicable sales charge had been included. Performance during periods of exceptional market conditions should not be expected to be repeated in a normal market environment. Current performance may be lower or higher than the performance data quoted.

Investing involves risk, including possible loss of principal.

Fund details, holdings and characteristics are as of the date noted and subject to change.

Yields are based on income earned for the period cited and on the Fund's NAV at the end of the period.

Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Those distributions temporarily cause extraordinarily high yields. There is no assurance that a fund will repeat that yield in the future. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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USR-3384