Equity

BMEAX

High Equity Income Fund

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

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  1y 3y 5y 10y
35.56 8.10 9.41 11.94
28.45 6.17 8.23 11.34
Benchmark (%) 35.01 10.07 10.94 13.51
Morningstar Category Avg. (%) 28.93 10.01 8.31 8.15
Morningstar Ranking 6/65 30/62 5/36 2/17
Morningstar Quartile 1 2 1 1
Lipper Category Avg. (%) 30.49 19.07 19.66 16.93
  YTD 1m 3m 1y 3y 5y 10y
16.33 -1.56 -0.18 35.56 26.31 56.76 208.92
10.23 -6.73 -5.42 28.45 19.68 48.52 192.69
Benchmark (%) 16.14 -3.48 -0.78 35.01 33.36 68.03 255.22
Morningstar Category Avg. (%) 15.61 3.63 2.76 28.93 33.13 49.03 118.87
Lipper Category Avg. (%) 9.09 -4.27 -0.05 30.49 69.53 148.00 382.91
  2016 2017 2018 2019 2020
Total Return (%) 6.71 17.21 -6.39 21.66 -0.52
Benchmark (%) 17.34 13.66 -8.27 26.54 2.80
Morningstar Category Avg. (%) 7.25 13.46 -5.81 18.81 4.24
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 U.S. Opportunities Portfolio.”

Key Facts

Key Facts

Size of Class (Millions) as of Dec 03, 2021 $220.4 M
Size of Fund (Millions) as of Dec 03, 2021 $608.7 M
Share Class launch date May 01, 1998
Asset Class Equity
Morningstar Category Derivative Income
Lipper Classification Equity Income Funds
Benchmark Index Russell 1000 Value Index (Total Return)
CUSIP 091929810
Distribution Frequency Monthly
Number of Holdings as of Oct 29, 2021 143
Max Offer Price as of Dec 03, 2021 $25.26
Open to New Investors Yes
Turnover Percent in the Annual Report 79%

Portfolio Characteristics

Portfolio Characteristics

P/B Ratio as of Oct 29, 2021 1.98
P/E Ratio - Forward as of Oct 29, 2021 12.96
Average Market Cap (Millions) as of Oct 29, 2021 $ 87,788.7 M
Alpha (3y) as of Nov 30, 2021 -0.12
R-Squared (3y) as of Nov 30, 2021 94.78
Beta (3y) as of Nov 30, 2021 0.92
30 Day SEC Yield as of Oct 31, 2021 6.34%
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2021 20.18%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -25.96%
Fund Standard Deviation (3y) as of Nov 30, 2021 19.01
Active Share as of Oct 29, 2021 83.42%

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 can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of Nov 05, 2021 AA
MSCI ESG Quality Score (0-10) as of Nov 05, 2021 7.2
MSCI ESG Quality Score - Peer Percentile as of Nov 05, 2021 60.00%
MSCI ESG % Coverage as of Nov 05, 2021 76.05%
Fund Lipper Global Classification as of Nov 05, 2021 Equity US Income
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Nov 05, 2021 181.54
Funds in Peer Group as of Nov 05, 2021 305
All data is from MSCI ESG Fund Ratings as of Nov 05, 2021, based on holdings as of Sep 30, 2021. 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% of the fund’s gross weight must come from securities covered 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. For newly launched funds, sustainability characteristics are typically available 6 months after launch.

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, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. 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 Oct 29, 2021 0.43%
MSCI - UN Global Compact Violators as of Oct 29, 2021 1.36%
MSCI - Nuclear Weapons as of Oct 29, 2021 0.43%
MSCI - Thermal Coal as of Oct 29, 2021 0.00%
MSCI - Civilian Firearms as of Oct 29, 2021 0.00%
MSCI - Oil Sands as of Oct 29, 2021 0.00%
MSCI - Tobacco as of Oct 29, 2021 2.95%

Business Involvement Coverage as of Oct 29, 2021 96.20%
Percentage of Fund not covered as of Oct 29, 2021 3.80%
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 0.91% and for Oil Sands 3.41%.

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 material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager takes into account ESG considerations in combination with other information in the research and decision phases of the investment process. The Fund manager conducts regular portfolio reviews between with the Risk and Quantitative Analysis group and the Chief Investment Officers, which may include discussion of material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors. The Fund also includes an option overlay strategy; ESG factors are not considered in the investment process for the options overlay strategy.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.38%
Net Expense Ratio 1.10%

Net Expense Ratio excluding Investment Related Expenses is 1.10%

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

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for High Equity Income Fund, Class A, as of Nov 30, 2021 rated against 63 Derivative Income 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 Oct 31, 2021 out of 451, 12,284, 451, 120 and 451 Funds, respectively in Lipper's Equity Income Funds classification.

Holdings

Holdings

as of Oct 29, 2021
Name Weight (%)
WELLS FARGO 2.56
CITIGROUP INC 2.17
APOLLO GLOBAL MANAGEMENT INC CLASS 2.06
CISCO SYSTEMS INC 2.02
BAE SYSTEMS PLC 1.87
Name Weight (%)
SANOFI SA 1.85
BP PLC 1.77
GENERAL MOTORS 1.57
VODAFONE GROUP PLC 1.49
AMERICAN INTERNATIONAL GROUP INC 1.39

Exposure Breakdowns

Exposure Breakdowns

as of Oct 29, 2021

% of Market Value

Type Fund Benchmark Net
as of Oct 29, 2021

% of Market Value

Type Fund Benchmark Net
as of Oct 29, 2021

% of Market Value

Type Fund Benchmark Net
as of Oct 29, 2021

% 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

Tony DeSpirito
BlackRock Fundamental Active Equity Investment Team

   

Kyle McClements
Kyle McClements
David Zhao
Portfolio Manager

  

Christopher Accettella
Christopher Accettella
Tom Pierce
Tom Pierce
Portfolio Manager

Literature

Literature

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