Equity

BADEX

BlackRock Defensive Advantage Emerging Markets Fund

How To Buy
  • NAV as of Sep 27, 2023 $9.03
    52 WK: 8.14 - 9.62
  • 1 Day NAV Change as of Sep 27, 2023 0.02 (0.22%)
  • NAV Total Return as of Sep 27, 2023 YTD: 5.27%

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Cum. Fund Perf. Since Inception: 1.93

Distributions

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Ex-Date Payable Date Record Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

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Year Total Distribution Income ST Cap Gains LT Cap Gains

Past distributions are not indicative of future distributions.
Click here, for the most recent distributions.



  1y 3y 5y 10y Incept.
Total Return (%) 7.99 - - - 0.95
Return w/ Sales Charge (%) 2.32 - - - -1.19
Morningstar Category Avg. (%) 5.39 - - - -
Morningstar Ranking 253/816 - - - -
Morningstar Quartile 2 - - - -
Lipper Ranking 242/787 - - - -
Lipper Quartile 2 - - - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
Total Return (%) 7.64 3.22 3.22 7.99 - - - 2.41
Return w/ Sales Charge (%) 1.99 -2.20 -2.20 2.32 - - - -2.97
Morningstar Category Avg. (%) 7.11 4.39 2.21 5.39 - - - -
  2018 2019 2020 2021 2022
Total Return (%) - - - 4.45 -11.34
Annual w/ Sales Charge (%) - - - -1.03 -15.99
Morningstar Category Avg. (%) - - - 0.38 -20.86

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.

Key Facts

Key Facts

Size of Class (Millions) $0.1 M
Size of Fund (Millions) $9.4 M
Share Class launch date Dec 21, 2020
Asset Class Equity
Morningstar Category Diversified Emerging Mkts
Lipper Classification Emerging Markets Funds
Benchmark Index MSCI EM Minimum Volatility (USD Optimized) Index - USD Net
CUSIP 09260J732
Distribution Frequency -
Number of Holdings -
Max Offer Price as of Sep 27, 2023 $9.03
Open to New Investors Yes
Turnover Percent in the Annual Report 204.00%

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of - -
P/B Ratio as of - -
P/E Ratio - Forward as of - -
Alpha (3y) as of - -
Average Market Cap (Millions) as of - -
R-Squared (3y) as of - -
Fund Standard Deviation (3y) as of - -
Beta (3y) as of - -
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund. Learn more


This fund does not seek to follow a sustainable, impact or ESG investment strategy. The metrics do not change the fund’s investment objective or constrain the fund’s investable universe, and there is no indication that a sustainable, impact or ESG investment strategy will be adopted by the fund. For more information regarding the fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of Sep 21, 2023 BBB
MSCI ESG % Coverage as of Sep 21, 2023 97.16%
MSCI ESG Quality Score (0-10) as of Sep 21, 2023 5.3
MSCI ESG Quality Score - Peer Percentile as of Sep 21, 2023 11.55%
Fund Lipper Global Classification as of Sep 21, 2023 Equity Emerging Mkts Global
Funds in Peer Group as of Sep 21, 2023 1,333
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Sep 21, 2023 223.41
MSCI Weighted Average Carbon Intensity % Coverage as of Sep 21, 2023 93.48%
All data is from MSCI ESG Fund Ratings as of Sep 21, 2023, based on holdings as of Mar 31, 2023. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage 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.

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. 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 Aug 31, 2023 0.00%
MSCI - UN Global Compact Violators as of Aug 31, 2023 0.13%
MSCI - Nuclear Weapons as of Aug 31, 2023 0.00%
MSCI - Thermal Coal as of Aug 31, 2023 0.00%
MSCI - Civilian Firearms as of Aug 31, 2023 0.00%
MSCI - Oil Sands as of Aug 31, 2023 0.00%
MSCI - Tobacco as of Aug 31, 2023 0.00%
Business Involvement Coverage as of Aug 31, 2023 97.08%
Percentage of Fund not covered as of Aug 31, 2023 2.92%
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 0.00% and for Oil Sands 0.00%.

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 financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ 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 or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager may include ESG considerations in the research and decision phases of the investment process. Funds with ESG-related objectives may also include ESG considerations in the portfolio construction phase of the investment process. The research phase may include relevant, internal ESG research used to assess certain characteristics, including, but not limited to, economic and environmental transition, market structure, superior growth, management quality, and risk characteristics associated with environmental, social, and governance matters. ESG insights may be combined with other internal research views to inform active portfolio weighting versus a reference benchmark (or weighting implemented to achieve an absolute return outcome, if applicable). The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate metrics, and other factors.

Fees

Fees

as of current prospectus
Gross Expense Ratio 4.03%
Net Expense Ratio 1.11%

Net Expense Ratio excluding Investment Related Expenses is 1.11%

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

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Aug 31, 2023)

Holdings

Holdings

as of Jul 31, 2023
Name Weight (%)
ICICI BANK LTD 2.91
TENCENT HOLDINGS LTD 1.49
BYD CO LTD 1.48
HON HAI PRECISION INDUSTRY CO LTD 1.48
UNI-PRESIDENT CHINA HOLDINGS LTD 1.47
Name Weight (%)
FIRST ABU DHABI BANK PJSC 1.46
BOE TECHNOLOGY GROUP CO LTD 1.46
OOREDOO QPSC 1.45
CIPLA LTD 1.44
HDFC BANK LTD 1.44
Name Weight (%) Shares Market Value
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 Jul 31, 2023

% of Market Value

Type Fund Benchmark Net
as of Jul 31, 2023

% of Market Value

Type Fund Benchmark Net
as of Jul 31, 2023

% 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

Jeff Shen
Jeff Shen
Co-CIO of Active Equity and Co-Head of Systematic Active Equity (SAE) at BlackRock

   

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Jeff Shen, PhD, Managing Director, is Co-CIO and Co-Head of Systematic Active Equity (SAE) at BlackRock. He is a member of the BlackRock Global Operating Committee, BlackRock Systematic (BSYS) Management Committee and the BlackRock Asian Middle Eastern & Allies Network (AMP) Executive Committee.

 

Dr. Shen's service with BlackRock dates back to 2004, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. At BGI, he was the Head of Investment for Asia Pacific and Emerging Market active equities. Prior to joining BGI, he began his career in 1997 with JP Morgan where he held numerous positions in global macro investment and asset allocation research in both New York and London.

 

Dr. Shen earned a BA degree in Economics from Hobart College, a MA degree in Economics from University of Massachusetts at Amherst, and a PhD degree in Finance from New York University.

 

Dr. Shen is an adjunct professor at NYU teaching a MBA class on international investment. He also serves on the advisory board of Clausen Center at UC Berkeley.

Robert Fisher, CFA
Robert Fisher, CFA
BlackRock Systematic Active Equity Investment Team

    

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Robert Fisher, CFA, Managing Director and Senior Portfolio Manager, is a member of the London-based portfolio management group in BlackRock's Systematic Active Equity (SAE) team. He is primarily responsible for managing global income and defensive strategies.

 

Mr. Fisher's service with the firm dates back to 2001, including his years with Barclay's Global Investors (BGI), which merged with BlackRock in 2009. At BGI, he served as a senior portfolio manager within the European Scientific Equity team. Prior to joining BGI, he worked at the Bank of New York, Europe.

 

Mr. Fisher earned a master's degree in aeronautical & astronautical engineering from Southampton University in 1999.

 

Richard Mathieson
Richard Mathieson
BlackRock Systematic Active Equity Investment Team
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Richard Mathieson, CA, Managing Director, is a member of the Systematic Active Equity (SAE) division within BlackRock's Active Equities Group. He is a Portfolio Manager responsible for global equity strategies.

 

Prior to this, Mr. Mathieson led the Investment Strategy team in EMEA for SAE. Mr. Mathieson's service with the firm dates back to 2002, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Prior to rejoining BGI in 2008, Mr. Mathieson was an equity analyst for a specialist investment company focused on European financial stocks. Previously, he was with BGI as a senior portfolio manager, where he was responsible for managing both long-only and market-neutral strategies.

 

Mr. Mathieson qualified as a Chartered Accountant with PricewaterhouseCoopers in 2000, and holds a Bachelor of Accountancy from the University of Glasgow.

David Piazza
David Piazza
BlackRock Systematic Active Equity Investment Team

  

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David Piazza, Managing Director, is a member of the Systematic Active Equity (SAE) division within BlackRock's Active Equities Group. He is responsible for SAE's Emerging Market Equity Strategies.

 

Mr. Piazza's service with the firm dates back to 1997, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Prior to assuming his current role, he led the Equity Investments team within the Global Market Strategies (GMSG) business of BlackRock's Multi-Asset Investments Group. In earlier roles within the Multi-Asset organization, he led the creation of various new investment strategies, including sector and industry selection, and global tactical asset allocation models. Previously, Mr. Piazza was a portfolio manager for global tactical asset allocation overlay accounts for BGI's Asset Allocation Strategies Group (AASG).

 

Mr. Piazza earned a BA degree in political science from Emory University 1994.

Portfolio Manager

Literature

Literature

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