Real Estate

BAREX

Real Estate Securities Fund

  • NAV as of Jun 02, 2026 $16.56
    52 WK: 14.57 - 16.98
  • 1 Day NAV Change as of Jun 02, 2026 $0.09 (0.55%)
  • NAV Total Return as of Jun 02, 2026 YTD: 12.23%
  • Morningstar Rating

Overview

Investment Approach

Invests at least 80% of its assets in equity securities of U.S. companies deriving at least 50% of revenues or profits from commercial, industrial or residential real estate industries or with 50% of assets in real estate interests. The Fund may invest up to 20% of its assets outside the United States.
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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 (%) 4.33 6.91 3.71 5.38
Return w/ Sales Charge (%) -1.15 5.00 2.60 4.81
Benchmark (%) 3.28 6.81 3.95 5.56
Morningstar Category Avg. (%) 2.75 6.76 3.58 4.74
Morningstar Ranking 60/207 82/197 105/190 49/149
Morningstar Quartile 2 2 2 2
Lipper Category Avg. (%) 2.87 6.74 3.55 4.82
Lipper Ranking 59/206 88/199 104/194 52/156
Lipper Quartile 2 2 3 2
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 3.64 -6.11 3.64 4.33 22.18 19.97 68.91
Return w/ Sales Charge (%) -1.80 -11.03 -1.80 -1.15 15.77 13.67 60.04
Benchmark (%) 3.76 -6.11 3.76 3.28 21.86 21.38 71.79
Morningstar Category Avg. (%) 2.31 -6.17 2.31 2.75 21.67 19.22 58.85
Lipper Category Avg. (%) 2.66 -5.87 2.66 2.87 21.73 19.40 61.43
  2021 2022 2023 2024 2025
Total Return (%) 45.86 -27.75 13.29 3.53 2.77
Annual w/ Sales Charge (%) 38.20 -31.54 7.35 -1.91 -2.62
Benchmark (%) 41.30 -24.95 11.36 4.92 2.27
Morningstar Category Avg. (%) 38.73 -25.67 12.03 5.90 1.60
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.

 

Effective June 1, 2020, the Fund changed its benchmark from the FTSE EPRA Nareit United States Index to the MSCI U.S. REIT Index. BlackRock considers this benchmark to be more representative of the sectors in which the Fund invests.

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

Key Facts

Key Facts

Size of Fund (Millions)
as of Jun 02, 2026
$443.0 M
Share Class launch date
Sep 28, 2012
Benchmark Index
FTSE Nareit All Equity REITs Index
Lipper Classification
Real Estate Funds
Max Offer Price
as of Jun 02, 2026
$17.48
Turnover Percent in the Annual Report
as of Jan 31, 2026
129.00%
Size of Class (Millions)
as of Jun 02, 2026
$22.1 M
Asset Class
Real Estate
Morningstar Category
Real Estate
CUSIP
091936617
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Apr 30, 2026
42
P/B Ratio
as of Apr 30, 2026
2.59
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of Apr 30, 2026
16.90
Best 3-Month Return Over the Last 3 Years
3 months ending Dec 31, 2023
18.19%
P/CF Ratio
as of Apr 30, 2026
17.16
Alpha (3y)
as of Apr 30, 2026
0.00
R-Squared (3y)
as of Apr 30, 2026
99.41
Beta (3y)
0.98
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2023
-12.58%
For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.34%
Net Expense Ratio 1.00%

Net Expense Ratio excluding Investment Related Expenses is 1.00%

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

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Real Estate Securities Fund, as of May 31, 2026 rated against 198 Real Estate 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 Apr 30, 2026 out of 200, 11,943, 200, 82 and 200 Funds, respectively in Lipper's Real Estate Funds classification.

Holdings

Holdings

as of Apr 30, 2026
Name Weight (%)
PROLOGIS INC 9.32
WELLTOWER INC 9.15
EQUINIX INC 8.76
SIMON PROPERTY GROUP INC 4.15
PUBLIC STORAGE 4.13
Name Weight (%)
AMERICAN TOWER CORPORATION 3.73
EQUITY RESIDENTIAL 3.66
IRON MOUNTAIN INC 3.60
CROWN CASTLE INC 3.55
AMERICAN HEALTHCARE REIT INC 3.15
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 Apr 30, 2026

% of Market Value

Type Fund Benchmark Net
as of Apr 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

Rajan Rehan, CFA
Rajan Rehan, CFA
Managing Director

  

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Raj Rehan, CFA, Managing Director, is a senior analyst with the Global Real Estate Securities Group he has 13 years of real estate investment experience, both in private equity and the public markets.

 

Prior to joining BlackRock in 2013, Rajan was a founding and senior member of the Global Real Estate Securities team at Aviva Investors, he was responsible for the US and wider Americas portfolios. Rajan started his career in 2004 working initially at M&G Prudential and then Aviva Investors in London, in real estate strategy, acquisitions and asset-management roles for a number of private-equity strategies across the UK and Continental Europe. From 2006 Rajan helped to build Aviva Investors’ Global Real Estate Securities business, moving to New York in 2010 to help establish the business’ presence in the U.S.

 

Rajan has a first class honours, BSc degree in Economics from the University of Warwick. He is a Chartered Financial Analyst charterholder.

Curtis Yee
Curtis Yee
Portfolio Manager

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