Share classes and loads

If you choose to buy Investor A shares, generally a sales charge is paid at the time of purchase. Depending on the amount of the purchase, you may qualify for a reduction in the sales charge. You may also qualify for a complete waiver of the sales charge on Investor A shares or of the contingent deferred sales charge on Investor B or Investor C shares under certain circumstances.

Investor A shares—Purchased with varying initial sales charges, depending on the fund and investment amount, and provide up-front commissions and ongoing trails that begin immediately.

 

Applicable toMax. sales chargeBreakpoint scheduleSales charge
Equity Funds 5.25% Less than $25,000 5.25%
$25,000 but less than $50,000 4.75%
$50,000 but less than $100,000 4.00%
$100,000 but less than $250,000 3.00%
$250,000 but less than $500,000 2.50%
$500,000 but less than $750,000 2.00%
$750,000 but less than $1,000,000 1.50%
$1,000,000+ NAV3
Multi-Asset Income Fund 5.25% Less than $25,000 5.25%
$25,000 but less than $50,000 4.75%
$50,000 but less than $100,000 4.00%
$100,000 but less than $250,000 3.00%
$250,000+ NAV1
Index Funds 0.00% 0.00%

The Investor A front-end sales charges can be reduced or eliminated through one or a combination of the following: the Right of Accumulation, a Letter of Intent, the Reinstatement Privilege, quantity discounts or an applicable waiver of the sales charge. If you redeem Investor A or Institutional shares and within 60 days buy new Investor A shares of the same or another fund, you will not pay a sales charge on the new purchase amount. The amount eligible for this "Reinstatement Privilege" may not exceed the amount of your redemption proceeds and is only allowed once per year.
See the funds' prospectuses for more information.
1 NAV purchases on most equity funds will be subject to a 1.00% charge if liquidated within 18 months of purchase. BlackRock Balanced Capital, BlackRock Basic Value and BlackRock Tactical Opportunities will be subject to a 0.75% charge if liquidated within 18 months of purchase.

Investor A Shares—Purchased with varying initial sales charges, depending on the fund and investment amount, and provide up-front commissions and ongoing trails that begin immediately.

 

Applicable toMax. sales chargeBreakpoint scheduleSales charge
Taxable Fixed Income Funds (Please see exceptions below for Floating Rate Income, Low Duration, Credit Strategies Income and Strategic Income Opportunities) 4.00% Less than $25,000 4.00%
$25,000 but less than $100,000 3.75%
$100,000 but less than $250,000 3.50%
$250,000 but less than $500,000 2.50%
$500,000 but less than $750,000 2.00%
$750,000 but less than $1,000,000 1.50%
$1,000,000+ NAV1
Tax-Free Fixed Income Funds (Please see below for Short-Term Municipal) 4.25% Less than $100,000 4.25%
$100,000 but less than $250,000 3.25%
$250,000+ NAV1
Strategic Income Opportunities 4.00% Less than $25,000 4.00%
$25,000 but less than $100,000 3.75%
$100,000 but less than $250,000 3.50%
$250,000 but less than $500,000 2.50%
$500,000 and over2 NAV1
Floating Rate Income, Credit Strategies Income 2.50% Less than $50,000 2.50%
$50,000 but less than $100,000 2.25%
$100,000 but less than $250,000 1.75%
$250,000 but less than $500,000 1.25%
$500,000+ NAV1
Low Duration 2.25% Less than $50,000 2.25%
$50,000 but less than $100,000 2.00%
$100,000 but less than $250,000 1.75%
$250,000 but less than $500,000 1.50%
$500,000+ NAV1
Short-Term Municipal 3.00% Less than $50,000 3.00%
$50,000 but less than $100,000 2.75%
$100,000 but less than $250,000 2.50%
$250,000+ NAV1

The Investor A front-end sales charges can be reduced or eliminated through one or a combination of the following: the Right of Accumulation, a Letter of Intent, the Reinstatement Privilege, quantity discounts or an applicable waiver of the sales charge. If you redeem Investor A or Institutional shares and within 60 days buy new Investor A shares of the same or another fund, you will not pay a sales charge on the new purchase amount. The amount eligible for this "Reinstatement Privilege" may not exceed the amount of your redemption proceeds and is only allowed once per year. See the funds' prospectuses for more information.
1 NAV purchases at specified breakpoints on BlackRock fixed income funds may be subject to a CDSC if liquidated within 18 months of purchase. Most taxable fixed income funds: 0.75%; BlackRock GNMA, Investment Grade Bond, U.S. Government Bond, Strategic Global Bond, and Short-Term Municipal: 0.50%; BlackRock Inflation Protected Bond: 0.15%; Most tax-free fixed income funds and Emerging Markets Flexible Dynamic: 1.00%.

Investor B Shares—Generally not available for purchase, except for exchanges and certain other exceptions. Please see funds' prospectuses for further details. Automatic conversion from B shares to A shares after 7 or 10 years for fixed income funds and 8 years for equity funds. CDSC on most funds reduced to 0% after 6 years.

Investor C SharesPurchased with no initial sales charge but have higher ongoing fees. These fees are paid over the life of the investment. Only purchases up to $500,000 per trade are permitted in Investor C shares.

 

Applicable toMaximum back-end sales chargeCDSC
All Equity and Fixed Income Funds* 1.00% 1.00%

* Trail for BlackRock Summit Cash Reserves is 0%.

Institutional shares of all BlackRock funds have a trade date plus one day settlement cycle. All purchase and redemption activity in all share classes of the funds listed below have a trade date plus one day settlement cycle.

  • BlackRock Developed Real Estate Index Fund
  • BlackRock International Index Fund
  • BlackRock Large Cap Index Fund
  • BlackRock LifePath Index Funds
  • BlackRock LifePath Funds
  • BlackRock MSCI Asia ex-Japan Index Fund
  • BlackRock MSCI World Index Fund
  • BlackRock S&P 500 Index Fund
  • BlackRock Small Cap Index Fund
  • BlackRock Small/Mid Cap Index Fund
  • BlackRock Stock Market Index Fund
  • BlackRock Total International ex U.S. Index Fund
  • BlackRock U.S. Total Bond Index Fund

Class A Units—Purchased with varying initial sales charges, depending on the fund and investment amount, and provide up-front commissions and ongoing trails that begin immediately.

 

Applicable toMax. sales chargeBreakpoint scheduleSales charge
Age-Based, Target Risk, Equity and Balanced Funds 5.25% Less than $25,000 5.25%
$25,000 but less than $50,000 4.75%
$50,000 but less than $100,000 4.00%
$100,000 but less than $250,000 3.00%
$250,000 but less than $500,000 2.50%
$500,000 but less than $750,000 2.00%
$750,000 but less than $1,000,000 1.50%
$1,000,000+ NAV1
Fixed Income Funds 4.00% Less than $25,000 4.00%
$25,000 but less than $100,000 3.75%
$100,000 but less than $250,000 3.50%
$250,000 but less than $500,000 2.50%
$500,000 but less than $750,000 2.00%
$750,000 but less than $1,000,000 1.50%
$1,000,000+ NAV1

The initial sales charge can be reduced or eliminated through one or a combination of the following: a Letter of Intent, the Right of Accumulation or the reinstatement privilege.
1 A contingent deferred sales charge of 1.00% is assessed on certain withdrawals of investments in Class A Units made within 18 months after purchase where no initial sales charge was paid at time of purchase as part of an investment of $1,000,000 or more.

Class B—Generally not available for purchase. Maximum CDSC is 5.00% in first year and reduced to 0% after 6 years.

Class C—Purchased with no initial sales charge to your clients but have higher ongoing fees. These fees are paid over the life of the investment and you receive 1.00% immediately and an ongoing trail of 1.00% that begins in the 13th month, subject to certain broker/dealer payout policies. CDSC of 1.00% is applied if withdrawal is made within one year of purchase.