Multi-fund portfolios

Source: Morningstar as of 03/31/20. Past performance does not guarantee or indicate future results. The strategies discussed are strictly for illustrative and educational purposes and are not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. There is no guarantee that any strategies discussed will be effective. The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Refer to www.BlackRock.com to obtain performance data current to the most recent month-end. Standardized performance of each fund can be found below.

*Gross expense ratios and 30 day SEC yields for each individual fund can be found below. “NER” represents Net Expense Ratio.

Standardized performance as of 03/31/20

30-Day SEC Yield (subsidized) - The calculation is based on a 30-day period ending on the last day of the previous month. It is computed by dividing the net investment income per share earned during the period by the maximum offering price per share on the last day of the period. If the fund expenses have waivers, the subsidized yield is based on the net expenses. 30-Day SEC Yield (unsubsidized) – This calculation is based on total expenses of the fund.

† The difference between gross and net expense ratios are due to contractual and/or voluntary waivers, if applicable. Any applicable contractual waiver will be terminable upon 90 days’ notice. BlackRock may agree to voluntarily waive certain fees and expenses, which the adviser may discontinue at any time without notice. For the A share class, the contractual waiver end dates are: BAICX, 11/30/20; MDDVX, 11/30/20; MDHQX, 1/31/21; BLDAX, 1/31/21; BMSAX, 1/31/21; BDHAX, 11/30/20; MDFOX, 10/31/20.

Source: Morningstar as of 03/31/20. Past performance does not guarantee or indicate future results. The strategies discussed are strictly for illustrative and educational purposes and are not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. There is no guarantee that any strategies discussed will be effective. The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Refer to www.BlackRock.com to obtain performance data current to the most recent month-end. Standardized performance of each fund can be found below.

*Gross expense ratios and 30 day SEC yields for each individual fund can be found below. “NER” represents Net Expense Ratio.

Standardized performance as of 03/31/20

30-Day SEC Yield (subsidized) - The calculation is based on a 30-day period ending on the last day of the previous month. It is computed by dividing the net investment income per share earned during the period by the maximum offering price per share on the last day of the period. If the fund expenses have waivers, the subsidized yield is based on the net expenses. 30-Day SEC Yield (unsubsidized) – This calculation is based on total expenses of the fund.

† The difference between gross and net expense ratios are due to contractual and/or voluntary waivers, if applicable. Any applicable contractual waiver will be terminable upon 90 days’ notice. BlackRock may agree to voluntarily waive certain fees and expenses, which the adviser may discontinue at any time without notice. For the A share class, the contractual waiver end dates are: BAICX, 11/30/20; MDDVX, 11/30/20; MDHQX, 1/31/21; BLDAX, 1/31/21; BMSAX, 1/31/21; BDHAX, 11/30/20; MDFOX, 10/31/20.

Source: Morningstar as of 03/31/20. Past performance does not guarantee or indicate future results. The strategies discussed are strictly for illustrative and educational purposes and are not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. There is no guarantee that any strategies discussed will be effective. The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Refer to www.BlackRock.com to obtain performance data current to the most recent month-end. Standardized performance of each fund can be found below.

*Gross expense ratios and 30 day SEC yields for each individual fund can be found below. “NER” represents Net Expense Ratio.

Standardized performance as of 03/31/20

30-Day SEC Yield (subsidized) - The calculation is based on a 30-day period ending on the last day of the previous month. It is computed by dividing the net investment income per share earned during the period by the maximum offering price per share on the last day of the period. If the fund expenses have waivers, the subsidized yield is based on the net expenses. 30-Day SEC Yield (unsubsidized) – This calculation is based on total expenses of the fund.

† The difference between gross and net expense ratios are due to contractual and/or voluntary waivers, if applicable. Any applicable contractual waiver will be terminable upon 90 days’ notice. BlackRock may agree to voluntarily waive certain fees and expenses, which the adviser may discontinue at any time without notice. For the A share class, the contractual waiver end dates are: BAICX, 11/30/20; MDDVX, 11/30/20; MDHQX, 1/31/21; BLDAX, 1/31/21; BMSAX, 1/31/21; BDHAX, 11/30/20; MDFOX, 10/31/20.

Source: Morningstar as of 03/31/20. Past performance does not guarantee or indicate future results. The strategies discussed are strictly for illustrative and educational purposes and are not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. There is no guarantee that any strategies discussed will be effective. The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Refer to www.BlackRock.com to obtain performance data current to the most recent month-end. Standardized performance of each fund can be found below.

*Gross expense ratios and 30 day SEC yields for each individual fund can be found below. “NER” represents Net Expense Ratio.

Standardized performance as of 03/31/20

30-Day SEC Yield (subsidized) - The calculation is based on a 30-day period ending on the last day of the previous month. It is computed by dividing the net investment income per share earned during the period by the maximum offering price per share on the last day of the period. If the fund expenses have waivers, the subsidized yield is based on the net expenses. 30-Day SEC Yield (unsubsidized) – This calculation is based on total expenses of the fund.

† The difference between gross and net expense ratios are due to contractual and/or voluntary waivers, if applicable. Any applicable contractual waiver will be terminable upon 90 days’ notice. BlackRock may agree to voluntarily waive certain fees and expenses, which the adviser may discontinue at any time without notice. For the A share class, the contractual waiver end dates are: BAICX, 11/30/20; MDDVX, 11/30/20; MDHQX, 1/31/21; BLDAX, 1/31/21; BMSAX, 1/31/21; BDHAX, 11/30/20; MDFOX, 10/31/20.