Multi Asset

PCBSX

Tactical Opportunities 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
4.14 3.64 3.35 4.33
Benchmark (%) 1.10 1.69 1.20 0.64
Morningstar Category Avg. (%) -0.38 1.22 2.02 2.50
Morningstar Ranking 52/282 47/247 41/192 4/57
Morningstar Quartile 1 1 2 1
Lipper Category Avg. (%) 2.57 2.50 3.87 3.32
Lipper Ranking 93/210 76/202 111/185 48/104
Lipper Quartile 2 2 3 2
  YTD 1m 3m 1y 3y 5y 10y
2.31 -0.87 -0.58 4.14 11.32 17.94 52.84
Benchmark (%) 0.64 0.01 0.04 1.10 5.16 6.14 6.55
Morningstar Category Avg. (%) -2.34 -0.84 2.23 -0.38 3.69 10.51 27.99
Lipper Category Avg. (%) -1.20 -1.51 3.50 2.57 8.34 22.81 45.73
  2015 2016 2017 2018 2019
Total Return (%) -0.84 -0.08 7.79 4.36 1.49
Benchmark (%) -0.31 0.33 0.86 1.87 2.28
Morningstar Category Avg. (%) -2.58 1.38 5.14 -4.03 7.58
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 as of May 31, 2018, the performance information for periods prior to the inception date of the share class shows the performance of the Fund’s Investor A Shares. The performance of this share class would be substantially similar to Investor A Shares because this share class and Investor A Shares invest in the same portfolio of securities and performance would only differ to the extent that this share class and Investor A Shares have different expenses. For performance periods prior to May 31, 2018, the performance information for periods prior to the inception date of the share class shows the performance of the Fund’s Investor A Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

Key Facts

Key Facts

Size of Class (Millions) as of Oct 23, 2020 $2.0 M
Size of Fund (Millions) as of Oct 23, 2020 $1,156.9 M
Share Class launch date Jan 28, 2005
Asset Class MultiAsset
Morningstar Category Multialternative
Lipper Classification Alt Global Macro Funds
Benchmark Index ICE BofA 3 Month Treasury Bill Index (G0O1)
CUSIP 091927830
Distribution Frequency Quarterly
Number of Holdings as of Sep 30, 2020 1,069
Max Offer Price as of Oct 23, 2020 $13.94
Open to New Investors Yes
Turnover Percent in the Annual Report 288%

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of Sep 30, 2020 20.55
P/B Ratio as of Sep 30, 2020 2.58
R-Squared as of Sep 30, 2020 0.07
Average Market Cap (Millions) as of Sep 30, 2020 $ 344,867.3 M
Fund Sharpe Ratio (3y) as of Sep 30, 2020 0.49
Beta (3y) as of Sep 30, 2020 -3.77
Effective Duration as of Sep 30, 2020 -1.60 yrs
Equity Beta as of Sep 30, 2020 -0.32
Best 3-Month Return Over the Last 3 Years 3 months ending Nov 30, 2019 3.90%
Worst 3-Month Return Over the Last 3 Years 3 months ending Dec 31, 2018 -2.45%
Standard Deviation (3y) as of - -
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 1.17%
Net Expense Ratio 1.17%

Net Expense Ratio excluding Investment Related Expenses is 1.16%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Rating

5
Overall Morningstar Rating for Tactical Opportunities Fund, Service, as of Sep 30, 2020 rated against 247 Multialternative 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 Sep 30, 2020 out of 202, 4,538, 202, 48 and 202 Funds, respectively in Lipper's Alt Global Macro Funds classification.

Exposure Breakdowns

Exposure Breakdowns

as of Sep 30, 2020

% of Market Value

Type Long Short Net
Sorry, sectors are not available at this 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

Philip Green
Managing Director, Head of Global Tactical Asset Allocation

  

Thomas Becker
Global Tactical Asset Allocation

    

Richard Murrall
Director, Global Tactical Asset Allocation

    

Michael Pensky
Portfolio Manager and Researcher, Global Tactical Asset Allocation Team

   

Portfolio Manager

Literature

Literature

 

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