Equity

BACAX

Energy Opportunities Fund

How to Buy
  • NAV as of Jan 24, 2025 $13.53
    52 WK: 12.37 - 14.66
  • 1 Day NAV Change as of Jan 24, 2025 -0.14 (-1.02%)
  • NAV Total Return as of Jan 24, 2025 YTD: 4.64%
  • Morningstar Rating

Overview

About this Fund

  • High Growth Potential Through Energy Equities
  • A Global, Multi-Cap Approach
  • Hedge Your Portfolio from Rising Energy Costs

Investment Approach

Invests primarily in securities of global energy companies and companies in associated businesses, in all capitalization ranges.
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Performance

Performance

  1y 3y 5y 10y
Total Return (%)

as of Dec 31, 2024

3.79 15.06 8.90 2.32
Return w/ Sales Charge (%)

as of Dec 31, 2024

-1.66 13.01 7.73 1.77
Benchmark (%)

as of Dec 31, 2024

2.70 15.42 8.10 3.57
Morningstar Category Avg. (%)

as of Dec 31, 2024

1.17 13.45 9.56 0.48
Morningstar Ranking

as of Dec 31, 2024

41/74 40/67 40/65 28/59
Morningstar Quartile

as of Dec 31, 2024

2 3 3 3
Lipper Category Avg. (%)

as of Dec 31, 2024

-0.55 6.46 9.55 3.23
Lipper Ranking

as of Dec 31, 2024

13/60 7/57 22/54 31/49
Lipper Quartile

as of Dec 31, 2024

1 1 2 3
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%)

as of Dec 31, 2024

3.79 -6.96 -1.79 3.79 52.33 53.18 25.80
Return w/ Sales Charge (%)

as of Dec 31, 2024

-1.66 -11.84 -6.95 -1.66 44.33 45.13 19.19
Benchmark (%)

as of Dec 31, 2024

2.70 -7.66 -2.82 2.70 53.75 47.63 42.02
Morningstar Category Avg. (%)

as of Dec 31, 2024

1.17 -7.53 -2.30 1.17 46.03 57.82 4.90
Lipper Category Avg. (%)

as of Dec 31, 2024

-0.55 -7.45 -6.01 -0.55 22.01 62.06 39.87
  2020 2021 2022 2023 2024
Total Return (%) -29.65 42.93 43.06 2.60 3.79
Annual w/ Sales Charge (%) -33.34 35.42 35.55 -2.79 -1.66
Benchmark (%) -31.46 40.09 46.01 2.54 2.70
Morningstar Category Avg. (%) -24.54 44.81 45.02 1.61 1.17

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.
Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Jan 24, 2025
$314.1 M
Share Class launch date
Feb 16, 2005
Benchmark Index
MSCI World Energy Index (USD)
Morningstar Category
Equity Energy
CUSIP
091937334
Open to New Investors
Yes
Size of Class (Millions)
as of Jan 24, 2025
$186.7 M
Asset Class
Equity
Distribution Frequency
Annual
Lipper Classification
Global Natural Resources
Max Offer Price
as of Jan 24, 2025
$14.28
Turnover Percent in the Annual Report
as of May 31, 2024
35%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Dec 31, 2024
35
P/E Ratio - Forward
as of Dec 31, 2024
12.17
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of Dec 31, 2024
23.28
Best 3-Month Return Over the Last 3 Years
3 months ending Mar 31, 2022
28.90%
Active Share
as of Dec 31, 2024
39.12%
P/B Ratio
as of Dec 31, 2024
1.97
Alpha (3y)
as of Dec 31, 2024
0.01
R-Squared (3y)
as of Dec 31, 2024
99.38
Beta (3y)
as of Dec 31, 2024
0.97
Worst 3-Month Return Over the Last 3 Years
3 months ending Aug 31, 2022
-8.45%

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 Jan 20, 2025
A
MSCI ESG Quality Score (0-10)
as of Jan 20, 2025
6.5
Fund Lipper Global Classification
as of Jan 20, 2025
Equity Theme - Natural Resources
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of Jan 20, 2025
415.74
MSCI ESG % Coverage
as of Jan 20, 2025
99.93%
MSCI ESG Quality Score - Peer Percentile
as of Jan 20, 2025
50.50%
Funds in Peer Group
as of Jan 20, 2025
200
MSCI Weighted Average Carbon Intensity % Coverage
as of Jan 20, 2025
98.58%
All data is from MSCI ESG Fund Ratings as of Jan 20, 2025, based on holdings as of Jul 31, 2024. 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 Dec 31, 2024
0.00%
MSCI - Nuclear Weapons
as of Dec 31, 2024
0.00%
MSCI - Civilian Firearms
as of Dec 31, 2024
0.00%
MSCI - Tobacco
as of Dec 31, 2024
0.00%
MSCI - UN Global Compact Violators
as of Dec 31, 2024
0.00%
MSCI - Thermal Coal
as of Dec 31, 2024
0.00%
MSCI - Oil Sands
as of Dec 31, 2024
3.46%
Business Involvement Coverage
as of Dec 31, 2024
97.84%
Percentage of Fund not covered
as of Dec 31, 2024
2.16%
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 49.54%.

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.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.36%
Net Expense Ratio 1.32%

Net Expense Ratio excluding Investment Related Expenses is 1.32%

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

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Energy Opportunities Fund, as of Dec 31, 2024 rated against 67 Equity Energy 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 Dec 31, 2024 out of 57, 12,261, 57, 16 and 57 Funds, respectively in Lipper's Global Natural Resources classification.

Holdings

Holdings

as of Dec 31, 2024
Name Weight (%)
EXXON MOBIL CORP 19.79
SHELL PLC 10.35
TOTALENERGIES SE 6.55
CONOCOPHILLIPS 5.35
WILLIAMS COMPANIES INC 4.76
Name Weight (%)
EOG RESOURCES INC 4.09
CHENIERE ENERGY INC 4.05
CHEVRON CORP 3.97
TARGA RESOURCES CORP 3.66
CANADIAN NATURAL RESOURCES LTD 3.45
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 Dec 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2024

% 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

Alastair Bishop
Alastair Bishop
Mark Hume
Mark Hume
Portfolio Manager

Literature

Literature

 

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