Multi Asset

STLEX

LifePath Dynamic 2040 Fund

Overview

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Performance

Performance

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Distributions

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  1y 3y 5y 10y
13.98 9.85 11.69 8.90
Benchmark (%) 14.12 9.83 11.35 8.96
Morningstar Category Avg. (%) 14.56 9.21 10.99 9.02
Morningstar Ranking 135/218 57/197 43/158 49/89
Morningstar Quartile 3 2 2 3
Lipper Category Avg. (%) 14.68 9.11 10.89 8.87
Lipper Ranking 128/211 56/186 43/148 47/87
Lipper Quartile 3 2 2 3
  YTD 1m 3m 1y 3y 5y 10y
13.98 4.61 14.43 13.98 32.56 73.82 134.58
Benchmark (%) 14.12 4.18 13.28 14.12 32.50 71.15 135.96
Morningstar Category Avg. (%) 14.56 4.07 12.93 14.56 30.26 68.44 137.11
Lipper Category Avg. (%) 14.68 4.27 13.08 14.68 29.96 67.85 135.12
  2016 2017 2018 2019 2020
Total Return (%) 7.97 21.44 -7.49 25.72 13.98
Benchmark (%) 8.43 19.13 -7.12 25.01 14.12
Morningstar Category Avg. (%) 7.95 19.52 -7.74 23.19 14.56
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.

Key Facts

Key Facts

Size of Class (Millions) as of Feb 25, 2021 $61.5 M
Size of Fund (Millions) as of Feb 25, 2021 $289.0 M
Share Class launch date Mar 01, 1994
Asset Class MultiAsset
Morningstar Category Target-Date 2040
Lipper Classification Mixed-Asset Target 2040 Funds
Benchmark Index BlackRock LifePath Dynamic 2040 Custom Benchmark
CUSIP 066922832
Distribution Frequency Quarterly
Max Offer Price as of Feb 25, 2021 $19.33
Open to New Investors Yes
Turnover Percent in the Annual Report 35%

Portfolio Characteristics

Portfolio Characteristics

R-Squared as of Jan 31, 2021 0.02
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 18.61%
Fund Sharpe Ratio (3y) as of Jan 31, 2021 0.45
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -21.49%
Fund Standard Deviation (3y) as of Jan 31, 2021 17.28
Effective Duration as of Jan 29, 2021 0.74 yrs
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

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 includes ESG considerations in the research and underlying strategy due diligence phases of the investment process. This may include third party and internal considerations, as defined by the portfolio management team. Internal considerations include exposures to climate and disaster events, as well as sovereign social and governance concerns. The portfolio management team also analyzes ESG exposures and investment characteristics within underlying strategies. These criteria are part of a number of considerations that factor into investment decisions. The Fund manager includes ESG criteria in the ongoing monitoring of the overall portfolio, including underlying strategies as well as tactical positioning. The Fund manager conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.92%
Net Expense Ratio 0.65%

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 Jan 31, 2021 out of 186, 4,536, 186, 118 and 186 Funds, respectively in Lipper's Mixed-Asset Target 2040 Funds classification.

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 Jan 22, 2021)

Holdings

Holdings

as of Jan 29, 2021
Name Weight (%)
Diversified Equity 45.43
INTL TILTS MASTER 13.46
ADVANTAGE EMERGING MARKETS F INVK 10.15
ISHARES MSCI EAFE SMALL-CAP ETF 5.73
BLK TACTICAL OPPORTUNITIES CLASS K 4.97
Name Weight (%)
ISHARES DEVELOPD RL ESTAT CL K 4.05
COREALPHA BOND MSTR 3.67
ISHARES TIPS BOND ETF 3.38
ISHARES CORE US AGGREGATE BOND ETF 3.18
MASTER TR LP DYNAMIC 2040 2.61

Exposure Breakdowns

Exposure Breakdowns

as of Jan 29, 2021

% 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.

Portfolio Managers

Portfolio Managers

Philip Green
Managing Director, Head of Global Tactical Asset Allocation

  

Christopher Chung
Head of Asset Allocation and Custom Strategies for LifePath

  

Portfolio Manager

Literature

Literature

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