Multi Asset

BDHCX

Dynamic High 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 Incept.
15.61 5.81 6.65 - 5.26
14.61 5.81 6.65 - 5.26
Benchmark (%) 19.34 11.15 10.66 - 8.58
Morningstar Category Avg. (%) 24.39 10.01 8.06 6.59 -
Morningstar Ranking 323/437 323/400 228/350 - -
Morningstar Quartile 3 3 3 - -
Lipper Category Avg. (%) 19.11 7.66 7.78 7.78 -
  YTD 1m 3m 1y 3y 5y 10y Incept.
6.02 -3.03 -0.94 15.61 18.46 37.97 - 42.47
5.02 -4.00 -1.92 14.61 18.46 37.97 - 42.47
Benchmark (%) 8.53 -3.17 0.03 19.34 37.31 65.92 - 76.61
Morningstar Category Avg. (%) 10.36 2.82 1.26 24.39 22.25 40.70 96.00 -
Lipper Category Avg. (%) 7.72 -2.84 -1.12 19.11 25.17 46.87 116.24 -
  2016 2017 2018 2019 2020
Total Return (%) 7.36 13.46 -7.89 18.70 3.46
Benchmark (%) 6.18 16.45 -5.96 21.92 14.06
Morningstar Category Avg. (%) 6.04 14.79 -8.26 16.10 6.18
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 Nov 26, 2021 $46.4 M
Size of Fund (Millions) as of Nov 26, 2021 $1,571.1 M
Share Class launch date Nov 03, 2014
Asset Class MultiAsset
Morningstar Category World Allocation
Lipper Classification Flexible Portfolio Funds
Benchmark Index 70% MSCI World Ind(Net TR)/30% BBG US Agg Ind
CUSIP 09257E811
Distribution Frequency Monthly
Number of Holdings as of Oct 29, 2021 2,026
Max Offer Price as of Nov 26, 2021 $10.07
Open to New Investors Yes
Turnover Percent in the Annual Report 94%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Oct 31, 2021 89.37
Fund Sharpe Ratio (3y) as of Oct 31, 2021 0.57
30 Day SEC Yield as of Oct 31, 2021 3.44%
Unsubsidized 30-Day SEC Yield as of Oct 31, 2021 3.32%
Effective Duration as of Oct 29, 2021 2.19 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 12.75%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -19.37%
Fund Standard Deviation (3y) as of Oct 31, 2021 13.49

For the latest month-end Distribution Yield, click here.


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.

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 0.02%
MSCI - UN Global Compact Violators as of Oct 29, 2021 0.57%
MSCI - Nuclear Weapons as of Oct 29, 2021 0.02%
MSCI - Thermal Coal as of Oct 29, 2021 0.00%
MSCI - Civilian Firearms as of Oct 29, 2021 0.01%
MSCI - Oil Sands as of Oct 29, 2021 0.01%
MSCI - Tobacco as of Oct 29, 2021 0.10%

Business Involvement Coverage as of Oct 29, 2021 54.64%
Percentage of Fund not covered as of Oct 29, 2021 45.36%
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 0.28% and for Oil Sands 0.67%.

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 includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, societal or governance topics, and from third-party providers. The Fund manager’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 1.83%
Net Expense Ratio 1.68%

Net Expense Ratio excluding Investment Related Expenses is 1.65%

  • Acquired Fund Fees and Expenses 0.03%
  • 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 Oct 31, 2021 out of 431, 4,640, 435, 85 and 435 Funds, respectively in Lipper's Flexible Portfolio Funds classification.

Holdings

Holdings

as of Oct 29, 2021
Name Weight (%)
ISHARES CORE S&P 500 ETF 1.49
RUSSELL 2000 - ELN 1.41
MICROSOFT CORP - ELN 1.17
APPLE INC - ELN 0.93
JPMORGAN CHASE & CO - ELN 0.85
Name Weight (%)
ISHARES CORE DIVIDEND GROWTH ETF 0.79
ALPHABET INC CLASS A - ELN 0.77
TAIWAN SEMICONDUCTOR MANUFACTURING 0.66
AMAZON COM INC - ELN 0.62
MCDONALDS CORP - ELN 0.49
as of Oct 29, 2021
Name Weight (%)
ISHARES IBOXX $ HIGH YIELD CORP BO 3.31
TRANSDIGM INC 144A 6.25 03/15/2026 0.23
CITIGROUP INC 5 12/31/2049 0.22
CHARLES SCHWAB CORPORATION (THE) 4 12/31/2049 0.22
PLMRS_21-4 E 144A 0.19
Name Weight (%)
PLMRS_21-4A D 144A 0.19
CONNECT FINCO SARL 144A 6.75 10/01/2026 0.18
ALLIANT HOLDINGS INTERMEDIATE LLC 144A 6.75 10/15/2027 0.17
VERSCEND ESCROW CORP 144A 9.75 08/15/2026 0.17
ALLY FINANCIAL INC 4.7 12/31/2079 0.16

Exposure Breakdowns

Exposure Breakdowns

as of Oct 29, 2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Oct 29, 2021

% of Market Value

Type Fund Benchmark Net
as of Oct 29, 2021

% of Market Value

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

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

Michael Fredericks
Head of Income Investing for BlackRock Multi-Asset Strategies Team

   

Justin Christofel, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

   

Alex Shingler, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

     

Portfolio Manager

Literature

Literature

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