Equity

BACAX

Energy Opportunities Fund

Overview

Loading

Performance

Performance

Growth of Hypothetical $10,000

Performance chart data not available for display.
View full chart

Distributions

Interactive chart displaying fund performance. Javascript is required.

View full chart
  1y 3y 5y 10y
42.93 4.24 -1.53 -1.88
35.42 2.39 -2.59 -2.41
Benchmark (%)

as of Dec 31, 2021

40.09 2.28 -1.12 -0.18
Morningstar Category Avg. (%)

as of Dec 31, 2021

44.81 2.10 -6.81 -4.87
Morningstar Ranking

as of Dec 31, 2021

43/70 27/69 14/66 22/51
Morningstar Quartile

as of Dec 31, 2021

3 2 1 2
Lipper Category Avg. (%)

as of Dec 31, 2021

33.33 11.74 2.80 -0.03
Lipper Ranking

as of Dec 31, 2021

10/59 51/59 47/57 35/46
Lipper Quartile

as of Dec 31, 2021

1 4 4 3
  YTD 1m 3m 1y 3y 5y 10y
42.93 3.89 6.39 42.93 13.28 -7.43 -17.28
35.42 -1.56 0.81 35.42 7.33 -12.29 -21.63
Benchmark (%)

as of Dec 31, 2021

40.09 3.87 4.47 40.09 7.01 -5.46 -1.75
Morningstar Category Avg. (%)

as of Dec 31, 2021

44.81 1.79 2.17 44.81 6.42 -29.72 -39.33
Lipper Category Avg. (%)

as of Dec 31, 2021

33.33 4.11 6.05 33.33 41.17 18.45 5.14
  2017 2018 2019 2020 2021
Total Return (%) 2.06 -19.93 12.66 -29.65 42.93
Benchmark (%) 4.97 -15.84 11.45 -31.46 40.09
Morningstar Category Avg. (%) -4.84 -27.27 7.25 -24.54 44.81
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 Jan 18, 2022 $142.4 M
Size of Fund (Millions) as of Jan 18, 2022 $235.5 M
Share Class launch date Feb 16, 2005
Asset Class Equity
Morningstar Category Equity Energy
Lipper Classification Global Natural Resources
Benchmark Index MSCI World Energy Net Daily TR Index
CUSIP 091937334
Distribution Frequency Annual
Number of Holdings as of Dec 31, 2021 30
Max Offer Price as of Jan 18, 2022 $11.15
Open to New Investors Yes
Turnover Percent in the Annual Report as of Jun 30, 2020 37%

Portfolio Characteristics

Portfolio Characteristics

P/B Ratio as of Dec 31, 2021 1.69
P/E Ratio - Forward as of Dec 31, 2021 11.54
Average Market Cap (Millions) as of Dec 31, 2021 $ 104,904.3 M
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2021 36.35%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -43.23%
Fund Standard Deviation (3y) as of Dec 31, 2021 33.66
Active Share as of Dec 31, 2021 34.64%

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.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics 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 methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of Jan 07, 2022 AA
MSCI ESG % Coverage as of Jan 07, 2022 100.00%
MSCI ESG Quality Score (0-10) as of Jan 07, 2022 8.4
MSCI ESG Quality Score - Peer Percentile as of Jan 07, 2022 74.16%
Fund Lipper Global Classification as of Jan 07, 2022 Equity Theme - Natural Resources
Funds in Peer Group as of Jan 07, 2022 178
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Jan 07, 2022 692.24
MSCI Weighted Average Carbon Intensity % Coverage as of Jan 07, 2022 96.77%
All data is from MSCI ESG Fund Ratings as of Jan 07, 2022, based on holdings as of Sep 30, 2021. 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% 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. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch.

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 Dec 31, 2021 0.00%
MSCI - UN Global Compact Violators as of Dec 31, 2021 10.70%
MSCI - Nuclear Weapons as of Dec 31, 2021 0.00%
MSCI - Thermal Coal as of Dec 31, 2021 0.00%
MSCI - Civilian Firearms as of Dec 31, 2021 0.00%
MSCI - Oil Sands as of Dec 31, 2021 10.71%
MSCI - Tobacco as of Dec 31, 2021 0.00%

Business Involvement Coverage as of Dec 31, 2021 98.15%
Percentage of Fund not covered as of Dec 31, 2021 1.85%
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 0.93% and for Oil Sands 58.58%.

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 considers ESG criteria in combination with other information during the idea generation, company research, portfolio construction and ongoing monitoring phases of the investment process. ESG information may be sourced from third-party vendors, as well as internal engagement commentary and site visits and input from BlackRock Investment Stewardship. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. 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 1.73%
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, Class A, as of Dec 31, 2021 rated against 69 Equity Energy Funds based on risk adjusted total return.

Holdings

Holdings

as of Dec 31, 2021
Name Weight (%)
CHEVRON CORP 13.62
ROYAL DUTCH SHELL PLC 10.82
TOTALENERGIES SE 8.54
CONOCOPHILLIPS 6.94
EXXON MOBIL CORP 5.91
Name Weight (%)
CANADIAN NATURAL RESOURCES LTD 4.09
SUNCOR ENERGY INC 3.94
MARATHON PETROLEUM CORP 3.79
TC ENERGY CORP 3.60
PIONEER NATURAL RESOURCES COMPANY 3.54

Exposure Breakdowns

Exposure Breakdowns

as of Dec 31, 2021

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2021

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2021

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2021

% 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

 

There are many ways to access BlackRock Funds, learn how you can add them to your portfolio