Real Estate

BAREX

Real Estate Securities Fund

  • NAV as of Dec 04, 2025 $15.04
    52 WK: 13.38 - 15.84
  • 1 Day NAV Change as of Dec 04, 2025 $-0.03 (-0.20%)
  • NAV Total Return as of Dec 04, 2025 YTD: 3.47%

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

  1y 3y 5y 10y
Total Return (%) -4.26 7.88 7.44 6.32
Return w/ Sales Charge (%) -9.28 5.96 6.29 5.75
Benchmark (%) -4.00 8.34 6.97 6.79
Morningstar Category Avg. (%) -4.08 8.52 6.86 5.67
Morningstar Ranking 129/218 139/210 84/193 55/151
Morningstar Quartile 3 3 2 2
Lipper Category Avg. (%) -3.90 8.43 6.81 5.74
Lipper Ranking 132/212 141/207 79/195 55/153
Lipper Quartile 3 3 2 2
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 4.43 0.79 2.48 -4.26 25.55 43.17 84.61
Return w/ Sales Charge (%) -1.05 -4.50 -2.90 -9.28 18.96 35.65 74.92
Benchmark (%) 4.51 0.43 2.67 -4.00 27.16 40.04 92.82
Morningstar Category Avg. (%) 3.20 0.08 2.62 -4.08 27.79 39.34 73.64
Lipper Category Avg. (%) 2.90 0.20 2.47 -3.90 27.73 39.70 76.04
  2020 2021 2022 2023 2024
Total Return (%) -4.43 45.86 -27.75 13.29 3.53
Annual w/ Sales Charge (%) -9.45 38.20 -31.54 7.35 -1.91
Benchmark (%) -8.29 41.30 -24.95 11.36 4.92
Morningstar Category Avg. (%) -4.49 38.73 -25.67 12.03 5.90

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

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 Dec 04, 2025
$346.7 M
Share Class launch date
Sep 28, 2012
Benchmark Index
FTSE Nareit ALL EQUITY REITS INDEX (OPEN) in USD
Lipper Classification
Real Estate Funds
Max Offer Price
as of Dec 04, 2025
$15.87
Turnover Percent in the Annual Report
as of Jan 31, 2025
59.00%
Size of Class (Millions)
as of Dec 04, 2025
$21.1 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 Oct 31, 2025
48
P/B Ratio
as of Oct 31, 2025
2.54
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of Dec 31, 2021
19.15
Best 3-Month Return Over the Last 3 Years
3 months ending Dec 31, 2023
18.19%
P/CF Ratio
as of Oct 31, 2025
16.49
Alpha (3y)
as of Dec 31, 2021
0.31
R-Squared (3y)
as of Dec 31, 2021
98.98
Beta (3y)
as of Dec 31, 2021
0.94
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2023
-12.58%
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.25%
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

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 Sep 30, 2025 out of 207, 12,058, 207, 83 and 207 Funds, respectively in Lipper's Real Estate Funds classification.

Holdings

Holdings

as of Oct 31, 2025
Name Weight (%)
PROLOGIS INC 9.53
WELLTOWER INC 8.71
EQUINIX INC 7.23
AVALONBAY COMMUNITIES INC 4.85
CROWN CASTLE INC 4.83
Name Weight (%)
SIMON PROPERTY GROUP INC 4.75
DIGITAL REALTY TRUST INC 3.76
PUBLIC STORAGE 3.74
VICI PROPERTIES INC 3.71
UDR INC 3.09
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 Oct 31, 2025

% of Market Value

Type Fund Benchmark Net
as of Oct 31, 2025

% 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