Equity

MDRFX

Mid-Cap Value Fund

  • NAV as of Jul 31, 2026 $23.95
    52 WK: 20.19 - 24.35
  • 1 Day NAV Change as of Jul 31, 2026 $-0.21 (-0.87%)
  • NAV Total Return as of Jul 31, 2026 YTD: 15.18%
  • Morningstar Rating

Overview

About this Fund

1. Mid cap value portfolio of high quality companies
2. Invests in companies identified as emerging dividend growers
3. Seeks attractive long-term returns

Investment Approach

Invests in the equity securities of mid capitalization companies that pay attractive, sustainable and growing dividends with the aim of providing mid capitalization equity returns with less volatility.
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Performance

Performance

Distributions

Record Date Ex-Date Payable Date
View full table
Record Date Ex-Date Payable Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

Past distributions are not indicative of future distributions.

Certain Funds record and have an ex-dividend date daily on undistributed net investment income, with distributions paid monthly.

Click here for historical distribution data and here for upcoming distribution estimates

  1y 3y 5y 10y
Total Return (%) 22.37 13.78 9.42 11.38
Return w/ Sales Charge (%) 15.94 11.75 8.25 10.78
Benchmark (%) 26.62 16.51 9.48 10.63
Morningstar Category Avg. (%) 21.46 14.29 9.07 10.54
Morningstar Ranking 187/403 193/377 153/358 80/296
Morningstar Quartile 2 3 2 2
Lipper Category Avg. (%) 23.05 14.65 8.73 10.71
Lipper Ranking 64/132 67/119 59/113 20/90
Lipper Quartile 2 3 3 1
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 13.16 3.61 15.35 22.37 47.29 56.86 193.77
Return w/ Sales Charge (%) 7.22 -1.83 9.30 15.94 39.56 48.62 178.33
Benchmark (%) 17.58 3.03 13.40 26.62 58.14 57.28 174.55
Morningstar Category Avg. (%) 12.57 2.47 9.93 21.46 49.30 54.34 172.32
Lipper Category Avg. (%) 15.32 4.01 13.44 23.05 51.35 52.74 178.90
  2021 2022 2023 2024 2025
Total Return (%) 26.07 -4.22 12.30 9.11 13.43
Annual w/ Sales Charge (%) 19.46 -9.25 6.40 3.39 7.48
Benchmark (%) 28.34 -12.03 12.71 13.07 11.05
Morningstar Category Avg. (%) 29.32 -8.02 13.94 11.43 10.24
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 12, 2017 are the returns of the Fund when it followed different investment strategies under the name “BlackRock Mid Cap Value Opportunities Fund.” 

Click here for historical distribution data and here for upcoming distribution estimates

Key Facts

Key Facts

Size of Fund (Millions)
as of Jul 31, 2026
$1,117.7 M
Share Class launch date
Feb 01, 1995
Benchmark Index
Russell MidCap Value Index
Lipper Classification
Mid-Cap Value Funds
Max Offer Price
as of Jul 31, 2026
$25.28
Turnover Percent in the Annual Report
as of Apr 30, 2026
75.00%
Size of Class (Millions)
as of Jul 31, 2026
$326.7 M
Asset Class
Equity
Morningstar Category
Mid-Cap Value
CUSIP
09255V104
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Jun 30, 2026
90
P/E Ratio - Forward
as of Jun 30, 2026
13.80
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of Jun 30, 2026
13.04
Best 3-Month Return Over the Last 3 Years
3 months ending Jun 30, 2026
15.35%
Active Share
as of Jun 30, 2026
90.55%
P/B Ratio
as of Jun 30, 2026
1.95
Alpha (3y)
as of Jun 30, 2026
-0.01
R-Squared (3y)
as of Jun 30, 2026
93.00
Beta (3y)
as of Jun 30, 2026
0.85
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2023
-10.91%
For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.09%
Net Expense Ratio 1.00%

Net Expense Ratio excluding Investment Related Expenses is 0.99%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Mid-Cap Value Fund, as of Jun 30, 2026 rated against 327 Mid-Cap Value Funds based on risk adjusted total return.

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 Jun 30, 2026 out of 120, 11,917, 120, 42 and 120 Funds, respectively in Lipper's Mid-Cap Value Funds classification.

Holdings

Holdings

as of Jun 30, 2026
Name Weight (%)
WESTERN DIGITAL CORPORATION 2.59
CVS HEALTH CORP 2.36
FIRST CITIZENS BANCSHARES INC (DELAWARE) 2.31
HEWLETT PACKARD ENTERPRISE CO 2.20
CDW CORP 2.09
Name Weight (%)
PPG INDUSTRIES INC 2.09
CARDINAL HEALTH INC 1.91
WESCO INTERNATIONAL INC 1.88
BECTON DICKINSON AND COMPANY 1.79
CROWN HOLDINGS INC 1.76
Name Market Value Weight (%) Shares
Detailed Holdings and Analytics
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.

Exposure Breakdowns

Exposure Breakdowns

as of Jun 30, 2026

% of Market Value

Type Fund Benchmark Net
as of Jun 30, 2026

% of Market Value

Type Fund Benchmark 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.

Portfolio Managers

Portfolio Managers

David Zhao
David Zhao
Portfolio Manager, Managing Director

  

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David Zhao, Managing Director, is Co-Director of Research for the US Income & Value team within the Fundamental Active Equity business of BlackRock's Active Equities Group. Mr. Zhao is a Portfolio Manager for the BlackRock Equity Dividend portfolios.

 

He also has partial research coverage for the information technology and telecoms sectors. Prior to joining BlackRock, David was a Global Equity Senior Research Analyst and Principal at Pzena Investment Management covering technology, US banks/brokers, medical technology, non-life insurance, financial technology and select industrials. David began his career as an Analyst at Lehman Brothers covering technology M&A; and later within the Institutional Equities Corporate Strategy Group.

 

David holds a BA of Arts with degrees in Economics and Computer Information Systems and graduated Cum Laude from Northwestern University.

Portfolio Manager
Read the Team's Commentary

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

This fund does not seek to follow a sustainable, impact or ESG investment strategy. For more information regarding the fund's investment strategy, please see the fund's prospectus or, as applicable, shareholder report.

Literature

Literature