Multi Asset

MRLOX

Global Allocation 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 Incept.
-16.69 4.16 3.83 4.96 8.51
Benchmark (%) -13.37 3.44 4.86 6.09 7.11
Morningstar Category Avg. (%) -11.27 2.67 3.35 4.65 -
Morningstar Ranking 351/423 108/391 138/348 138/248 -
Morningstar Quartile 4 2 2 3 -
Lipper Ranking 411/477 156/413 177/368 131/213 -
Lipper Quartile 4 2 2 3 -
FTSE World Index -14.58 7.18 7.81 9.63 -
  YTD 1m 3m 1y 3y 5y 10y Incept.
-16.50 -6.05 -10.34 -16.69 13.01 20.66 62.27 1,431.84
Benchmark (%) -16.33 -6.35 -12.02 -13.37 10.69 26.80 80.56 892.96
Morningstar Category Avg. (%) -13.33 -6.71 -10.59 -11.27 8.23 17.93 57.57 -
FTSE World Index -20.11 -8.92 -16.13 -14.58 23.11 45.66 150.79 -
  2017 2018 2019 2020 2021
Total Return (%) 12.95 -7.92 16.79 20.43 6.05
Benchmark (%) 15.69 -4.68 18.79 13.34 10.13
Morningstar Category Avg. (%) 14.79 -8.26 16.10 6.18 11.31
FTSE World Index 24.09 -8.77 27.74 16.33 20.95
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.
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Explore how the Global Allocation Fund's diversified approach has grown a $10k investment in 1989 into over $100k today.
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Key Facts

Key Facts

Size of Class (Millions) as of Jul 05, 2022 $305.8 M
Size of Fund (Millions) $20,217.5 M
Share Class launch date Jan 03, 2003
Asset Class MultiAsset
Morningstar Category Global Allocation
Lipper Classification Flexible Portfolio Funds
Benchmark Index 36% S&P 500, 24% FTSE World (ex.US), 24% ICE BofA/ML Cur 5-yr US Treasury, 16% FTSE Non-USD WGBI
CUSIP 09251T400
Number of Issuers as of May 31, 2022 1,336
Distribution Frequency Semi-Annual
Max Offer Price as of Jul 05, 2022 $16.28
Open to New Investors Yes
Turnover Percent in the Annual Report 58%

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of May 31, 2022 19.26
Average Market Cap (Millions) as of May 31, 2022 $ 304,238.5 M
Fund Sharpe Ratio (3y) as of Jun 30, 2022 0.33
Benchmark Sharpe Ratio (3y) as of Jun 30, 2022 0.29
Fund Standard Deviation (3y) as of Jun 30, 2022 12.78
Benchmark Standard Deviation (3y) as of Jun 30, 2022 11.68
Effective Duration as of May 31, 2022 0.81 yrs
Effective Duration Fixed Income as of May 31, 2022 4.35 yrs
Effective Duration Fixed Income and Casha as of May 31, 2022 2.00 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 14.50%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -12.47%
Secondary Benchmark Sharpe Ratio (3y) as of Jun 30, 2022 0.43
Secondary Benchmark Standard Deviation (3y) as of Jun 30, 2022 18.55
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

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 Global Allocation Investment Team believes that a company’s ability to manage material environmental, social and governance (“ESG”) issues may be essential to the company’s ability to sustain growth and generate value for shareholders over the long term, and thus ESG performance indicators are considered as part of our investment process. For long-term investors like Global Allocation, incorporating ESG information into its research and investment decisions has been, and remains, very important to our fundamental investment process and our goal of seeking to maximize risk-adjusted returns.


The team analyzes ESG data when conducting research and due diligence on new investments, and when monitoring existing investments within the portfolio. The team’s ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion 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 1.49%
Net Expense Ratio 1.43%

Net Expense Ratio excluding Investment Related Expenses is 1.40%

  • Acquired Fund Fees and Expenses 0.02%
  • Interest expense 0.01%

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Global Allocation Fund, Retirement, as of Jun 30, 2022 rated against 391 Global Allocation Funds based on risk adjusted total return.

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Mar 31, 2022)

Holdings

Holdings

as of May 31, 2022
Name Weight (%)
MICROSOFT CORP 2.03
APPLE INC 1.60
ALPHABET INC CLASS C 1.30
CONOCOPHILLIPS 1.08
AMAZON COM INC 1.07
Name Weight (%)
UNITEDHEALTH GROUP INC 0.93
MASTERCARD INC CLASS A 0.81
ENBRIDGE INC 0.79
SIEMENS N AG 0.77
EQT CORP 0.73
as of May 31, 2022
Name Weight (%)
TREASURY BOND 2.25 02/15/2052 0.59
CANADA (GOVERNMENT OF) 0.25 03/01/2026 0.47
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2024 0.45
QUINTIS 1ST LIEN SR SEC PIK TOGGLE 144A 7.5 10/01/2026 0.43
GREEN PLAINS - SECURED NOTES 144A 11.75 02/08/2026 0.42
Name Weight (%)
QUINTIS 2ND LIEN SR SEC PIK TOGGLE 144A 0 10/01/2028 0.38
CML TRIGRAMS (PROJECT PEARL PASCO) CML Prvt 0.34
JPMMT_21-INV5 A2A 144A 0.30
TREASURY NOTE 1.875 02/15/2032 0.28
TREASURY NOTE 0.125 11/30/2022 0.27

Exposure Breakdowns

Exposure Breakdowns

as of May 31, 2022

% of Net Assets

Type Fund Benchmark Net
Allocations subject to change.
as of May 31, 2022

% of Net Assets

Type Fund Benchmark Net
as of May 31, 2022

% of Net Assets

Type Fund Benchmark Net
as of May 31, 2022

% of Net Assets

Type Fund Benchmark Net
as of May 31, 2022

% of Net Assets

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.


% of Net Assets represents the Fund’s exposure based on the economic value of securities and is adjusted for futures, options, and swaps (except with respect to fixed income securities), and convertible bonds.

Portfolio Managers

Portfolio Managers

Rick Rieder
Russ Koesterich
David Clayton

Team's Commentary

Get timely market outlooks, thought leadership and portfolio positioning insights from the investment team.

Read the Team's Commentary

Literature

Literature

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