Multi Asset

BDHIX

Dynamic High Income Fund

Overview

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Performance

Performance

  • Returns

  1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
5.51 9.16 - - 5.91
Benchmark (%) Index: 70% MSCI World Ind(Net TR)/30% Bar US Agg Ind.<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. 7.44 9.84 - - 6.65
Morningstar Category Avg. (%) World Allocation 3.46 7.38 4.42 6.18 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 92/466 53/399 - - -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 1 1 - - -
Lipper Category Avg. (%) Flexible Portfolio Funds 4.69 7.43 4.91 6.49 -
Lipper Ranking Rankings are based on total return excluding sales charges. 211/614 105/496 - - -
Lipper Quartile Rankings are based on total return excluding sales charges. 2 1 - - -
  YTD 1m 3m 1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
2.10 0.09 3.22 5.51 30.08 - - 25.13
Benchmark (%) Index: 70% MSCI World Ind(Net TR)/30% Bar US Agg Ind.<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. 3.35 0.20 3.48 7.44 32.52 - - 28.62
Morningstar Category Avg. (%) World Allocation 0.02 -0.05 1.40 3.46 23.82 24.13 82.22 -
Lipper Category Avg. (%) Flexible Portfolio Funds 1.51 -0.15 2.18 4.69 24.32 27.83 90.17 -
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.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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Distributions

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Key Facts

Key Facts

Size of Class (Millions) as of Dec 12, 2018 $585.9 M
Size of Fund (Millions) as of Dec 12, 2018 $683.1 M
Share Class launch date Nov 03, 2014
Asset Class MultiAsset
Morningstar Category World Allocation
Lipper Classification Flexible Portfolio Funds
Benchmark Index 70% MSCI World Ind(Net TR)/30% Bar US Agg Ind
CUSIP 09257E795
Number of Holdings as of Oct 31, 2018 658
Max Offer Price as of Dec 12, 2018 $9.06
Open to New Investors Yes
Turnover Percent as of Nov 30, 2018 75%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Nov 30, 2018 92.48
Beta (3y) as of Nov 30, 2018 0.95
Best 3-Month Return Over the Last 3 Years 3 months ending May 31, 2016 8.41%
Worst 3-Month Return Over the Last 3 Years 3 months ending Feb 29, 2016 -7.31%
Fund Standard Deviation (3y) as of Nov 30, 2018 6.66

For the latest month-end Distribution Yield, click here.


This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Ratings

Ratings

Morningstar Rating

4
Overall Morningstar Rating for Dynamic High Income Fund, Class I, as of Nov 30, 2018 rated against 392 World Allocation Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective May 17, 2018) ‡

Holdings

Holdings

as of Oct 31, 2018
Name Weight (%)
ISHARES CORE S&P ETF 2.17
ISHARES EMERGING MARKETS DIVIDEND 1.46
INGERSOLL RAND PLC - ELN 0.58
RAYTHEON - ELN 0.57
ENERGY TRANSFER UNITS 0.53
Name Weight (%)
ENTERPRISE PRODUCTS PARTNERS UNITS 0.52
WISDOMTREE EMERGING MARKETS HIGH D 0.46
MPLX COMMON UNITS 0.46
MAGELLAN MIDSTREAM PARTNERS UNITS 0.40
PLAINS ALL AMERICAN PIPELINE UNITS 0.39
as of Oct 31, 2018
Name Weight (%)
ISHARES IBOXX HIGH YIELD CORP BOND 7.93
FLOATING RATE INCOME FUND CLASS K 7.90
BLACKROCK ALL TGT SH BATS SERIES A 7.20
ISHARES 0-5 YEAR HIGH YIELD CORPOR 3.51
CREDIT SUISSE GROUP AG 144A 7.5 12/31/2049 0.59
Name Weight (%)
BNP PARIBAS SA 144A 6.75 12/31/2049 0.54
BARCLAYS PLC RegS 7.875 12/31/2049 0.48
WESTPAC BANKING CORP. (NEW ZEALAND 5 12/31/2049 0.44
STATE STREET CORP 3.33413 06/15/2037 0.43
CREDIT AGRICOLE SA 144A 8.125 12/31/2049 0.40

Exposure Breakdowns

Exposure Breakdowns

as of Oct 31, 2018

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Oct 31, 2018

% of Market Value

Type Fund Benchmark Net
as of Oct 31, 2018

% of Market Value

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

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.

Portfolio Managers

Portfolio Managers

Michael Fredericks
Head of Income Investing for BlackRock Multi-Asset Strategies Team

   

Justin Christofel, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

   

Alex Shingler, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

     

Portfolio Manager

Literature

Literature

 

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