Multi Asset

BACPX

20/80 Target Allocation Fund

Overview

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Performance

Performance

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Distributions

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  1y 3y 5y 10y
2.51 0.02 2.51 3.67
-2.87 -1.76 1.41 3.11
Benchmark (%) 3.30 -0.40 2.86 3.53
Morningstar Category Avg. (%) 2.88 0.82 2.08 2.90
Morningstar Ranking 105/137 91/131 53/123 8/87
Morningstar Quartile 3 3 2 1
Lipper Category Avg. (%) 4.26 1.75 2.71 3.61
Lipper Ranking 273/318 273/308 174/279 104/218
Lipper Quartile 4 4 3 2
  YTD 1m 3m 1y 3y 5y 10y
4.54 1.05 0.76 2.51 0.07 13.17 43.39
-0.95 -4.26 -4.53 -2.87 -5.19 7.23 35.86
Benchmark (%) 4.77 1.10 0.91 3.30 -1.19 15.15 41.44
Morningstar Category Avg. (%) 3.46 1.23 0.70 2.88 2.49 10.83 33.09
Lipper Category Avg. (%) 4.48 1.73 1.16 4.26 5.38 14.39 42.88
  2018 2019 2020 2021 2022
Total Return (%) -2.53 12.20 10.30 4.23 -14.95
Benchmark (%) -1.68 12.91 10.38 3.07 -14.06
Morningstar Category Avg. (%) -3.14 11.20 7.29 5.04 -10.84

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

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.

The Fund's returns prior to June 3, 2015 are the returns of the Fund when it followed different investment strategies under the name "BlackRock Conservative Prepared Portfolio."

Key Facts

Key Facts

Size of Class (Millions) as of Sep 26, 2023 $192.4 M
Size of Fund (Millions) as of Sep 26, 2023 $422.4 M
Share Class launch date Dec 21, 2006
Asset Class MultiAsset
Morningstar Category Conservative Allocation
Lipper Classification Mixed-Asset Target Allocation Conserv
Benchmark Index 14% MSCI ACWI Index, 6% MSCI US Index, and 80% US Universal Index
CUSIP 091937177
Distribution Frequency Annual
Number of Holdings as of Aug 31, 2023 18
Max Offer Price as of Sep 26, 2023 $10.78
Open to New Investors Yes
Turnover Percent in the Annual Report 65.00%

Portfolio Characteristics

Portfolio Characteristics

Average Market Cap (Millions) as of Aug 31, 2023 $ 117,563,283.8 M
Yield to Worst as of Aug 31, 2023 4.43%
Fund Sharpe Ratio (3y) as of Aug 31, 2023 -0.33
Effective Duration as of Aug 31, 2023 5.06 yrs
Alpha (3y) as of Aug 31, 2023 0.02
R-Squared (3y) as of Aug 31, 2023 98.24
Beta (3y) as of Aug 31, 2023 1.03
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2023 6.73%
Worst 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2022 -8.26%
Fund Standard Deviation (3y) as of Aug 31, 2023 7.96
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund. Learn more


This fund does not seek to follow a sustainable, impact or ESG investment strategy. The metrics do not change the fund’s investment objective or constrain the fund’s investable universe, and there is no indication that a sustainable, impact or ESG investment strategy will be adopted by the fund. For more information regarding the fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of Sep 21, 2023 A
MSCI ESG % Coverage as of Sep 21, 2023 69.30%
MSCI ESG Quality Score (0-10) as of Sep 21, 2023 6.2
MSCI ESG Quality Score - Peer Percentile as of Sep 21, 2023 35.78%
Fund Lipper Global Classification as of Sep 21, 2023 Mixed Asset USD Conservative
Funds in Peer Group as of Sep 21, 2023 204
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Sep 21, 2023 200.73
MSCI Weighted Average Carbon Intensity % Coverage as of Sep 21, 2023 36.32%
All data is from MSCI ESG Fund Ratings as of Sep 21, 2023, based on holdings as of Mar 31, 2023. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons as of Aug 31, 2023 0.26%
MSCI - UN Global Compact Violators as of Aug 31, 2023 0.22%
MSCI - Nuclear Weapons as of Aug 31, 2023 0.20%
MSCI - Thermal Coal as of Aug 31, 2023 0.09%
MSCI - Civilian Firearms as of Aug 31, 2023 0.02%
MSCI - Oil Sands as of Aug 31, 2023 0.04%
MSCI - Tobacco as of Aug 31, 2023 0.23%

Business Involvement Coverage as of Aug 31, 2023 32.61%
Percentage of Fund not covered as of Aug 31, 2023 67.39%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.21% and for Oil Sands 0.80%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in the research, monitoring and reporting phases of the investment process. This may include both BlackRock and third-party research and feeds into the initial investment decision. When making buy, hold and sell decisions, the team may take into consideration potential competitive advantages of allocating to vehicles that provide access to companies with stronger ESG characteristics, within a given industry. The Fund manager conducts regular portfolio risk reviews between the investment team and BlackRock's Risk and Quantitative Analysis group as well as portfolio reviews with Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.64%
Net Expense Ratio 0.59%

Net Expense Ratio excluding Investment Related Expenses is 0.43%

  • Acquired Fund Fees and Expenses 0.16%
  • Interest expense 0.00%

Ratings

Ratings

Lipper Leader

 
 
 
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 Aug 31, 2023 out of 312, 4,459, 312, 81 and 311 Funds, respectively in Lipper's Mixed-Asset Target Allocation Conserv classification.

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Aug 31, 2023)

Holdings

Holdings

as of Aug 31, 2023
Name Weight (%)
BLACKROCK TOTAL RETURN FUND CON 24.91
ISHARES CORE TOTAL USD BOND MARKET 23.61
ISHARES CORE S&P 500 ETF 10.42
ISHARES TREASURY FLOATING RATE BON 10.18
ISHARES 20+ YEAR TREASURY BOND ETF 6.28
Name Weight (%)
US MORTGAGE INSTITUTIONAL 5.43
ISHARES IBOXX $ INV GRADE CORPORAT 4.00
ISHARES TIPS BOND ETF 3.02
ISHARES MSCI EAFE VALUE ETF 2.84
BLACKROCK SUSTAINABLE ADV LC CL K 2.57
Name Weight (%) Shares Market Value
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Top Holdings


Exposure Breakdowns

Exposure Breakdowns

as of Aug 31, 2023

% of Market Value

Type Fund
as of Aug 31, 2023

% of Market Value

Type Fund
as of Aug 31, 2023

% of Market Value

Type Fund
Allocations subject to change.
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.

Exposure Breakdowns


Portfolio Managers

Portfolio Managers

Michael Gates, CFA
Head of Model Portfolios Solutions, Americas, Multi-Asset Strategies & Solutions

Michael Gates, CFA, is the lead portfolio manager for Target Allocation Models in the Americas.

Lisa O'Connor
Global Head of Model Portfolio Solutions and the Deputy CIO for Solutions

  

Portfolio Manager

Literature

Literature

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