BCSAX

Commodity Strategies Fund ACTIVE

Commodity

BCSAX

Commodity Strategies Fund ACTIVE

How To Buy

Overview

Investment Approach

Invests in two strategies, approximately equally. One strategy focuses on commodity-linked derivatives, the other focuses on equity investments in commodity-related companies, including mining, energy and agricultural companies.
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Performance

Performance

  1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. -8.87 -1.77 -2.51 - -4.06
Return w/ Sales Charge (%) Max Sales Charge: - -13.66 -3.52 -3.56 - -4.65
Benchmark (%) Index: Bloomberg Commodity Index Total Return.<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. -17.38 -6.14 -7.69 - -7.80
Morningstar Category Avg. (%) Commodities Broad Basket -12.15 -4.71 -4.22 -6.20 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 10/115 7/99 2/83 - -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 1 1 1 - -
Lipper Category Avg. (%) Commodities General -17.93 -5.35 -7.07 -6.15 -
Lipper Ranking Rankings are based on total return excluding sales charges. 12/125 10/110 5/94 - -
Lipper Quartile Rankings are based on total return excluding sales charges. 1 1 1 - -
  2015 2016 2017 2018 2019
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. -25.19 22.97 8.01 -14.68 11.19
Benchmark (%) Index: Bloomberg Commodity Index Total Return<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. -24.66 11.77 1.70 -11.25 7.69
Morningstar Category Avg. (%) Commodities Broad Basket -23.99 12.16 3.66 -11.52 7.87
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.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

Performance chart data not available for display.
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Cum. Fund Perf. Since Inception: -26.16

Source: Lipper. Data reflects different methodology from the BlackRock calculated returns in the Returns tab. The $10,000 Hypothetical Over Time chart reflects a hypothetical $10,000 investment in the investor class of shares noted and does not assume the max sales charge. Had sales charge been included, returns would have been lower. The chart uses total return NAV performance and assumes reinvestment of dividends and capital gains. Fund expenses, including 12b-1 fees, management fees and other expenses were deducted. Performance for other share classes will vary.

Distributions

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Ex-Date Payable Date Record Date Total Distribution Current year distributions are not classified as “Income,” “Short-Term Capital Gains,” “Long-Term Capital Gains,” or “Return of Capital” until approximately 60 days following calendar year-end. Income ST Cap Gains LT Cap Gains Return of Capital

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Year Total Distribution Current year distributions are not classified as “Income,” “Short-Term Capital Gains,” “Long-Term Capital Gains,” or “Return of Capital” until calendar year-end. Income ST Cap Gains LT Cap Gains

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



Key Facts

Key Facts

Net Assets as of Aug 07, 2020 $33,481,664
Size of Fund (Millions) $196.6 M
Base Currency U.S. Dollar
Share Class launch date Oct 03, 2011
Asset Class Commodity
Domicile United States

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio The price to earnings ratio is a fundamental measure used to determine if an investment is valued appropriately. Each holdings' P/E is the latest closing price divided by the latest 12 months' earnings per share. Negative earnings are excluded, extraordinary items are excluded, and P/E ratios over 60 are set to 60. as of Jul 31, 2020 17.13
P/B Ratio The price to book (P/B) value ratio is a fundamental measure used to determine if an investment is valued appropriately. The book value of a company is a measure of how much a company's assets are worth assuming the company's debts are paid off. Negative book values are excluded from this calculation and holding price to book ratios over 25 are set to 25. as of Jul 31, 2020 1.86
Average Market Cap (Millions) The average size of the securities the fund invests in. as of Jul 31, 2020 $ 41,838.8 M
Alpha (3y) Compared to Bloomberg Commodity Index Total Return.<br/><br/>Alpha is calculated at the portfolio level.<br/><br/>A measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the fund relative to the return of the benchmark index is a fund&#39;s alpha. as of Jul 31, 2020 0.37
R-Squared (3y) as of Jul 31, 2020 77.86
Beta (3y) as of Jul 31, 2020 1.01
Effective Duration Effective Duration measures the sensitivity of the price of a bond with or without embedded options to changes in interest rates, taking into account the likelihood of the bond being called, put and/or sunk prior to its final maturity date while incorporating after-tax impacts on the bond. The options-based duration model used by BlackRock employs certain assumptions and may differ from other fund complexes. Effective Duration is measured at the individual bond level, aggregated to the portfolio level, and adjusted for leverage, hedging transactions and non-bond holdings, including derivatives. as of Jul 31, 2020 0.11 yrs
Yield to Worst The average rate of return of the portfolio at current market prices, adjusting for optionality. as of Jul 31, 2020 0.05%
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 16.37%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -23.31%
Fund Standard Deviation (3y) as of Jul 31, 2020 14.91
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Ratings

Ratings

Morningstar Rating

5
Overall Morningstar Rating for Commodity Strategies Fund, Class A, as of Jul 31, 2020 rated against 100 Commodities Broad Basket 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 Jul 31, 2020 out of 106, 12,206, 107, 34 and 107 Funds, respectively in Lipper's Commodities General classification.

Top Holdings

Holdings

Top Equity Holdings as of 30 June-2020

Name Fund Weight (%)
NEWMONT CORPORATION 2.47%
BARRICK GOLD CORP 2.26%
CHEVRON CORP 1.58%
ROYAL DUTCH SHELL PLC 1.15%
RIO TINTO PLC 1.14%
BHP GROUP PLC 1.10%
TOTAL SA 1.05%
FMC COPORATION 0.90%
TRACTOR SUPPLY COMPANY 0.87%
BP PLC 0.86%

*% of Market Value



Exposure Breakdowns

Exposure Breakdowns

Sectors as of 30 June-2020

Name Equity Exposure Commodity Index Related Instruments* Total Benchmark
Energy 11.73% 11.67% 23.40% 23.35%
Agriculture 19.56% 16.74% 36.30% 35.50%
Industrial Metals 12.54% 9.34% 21.88% 18.70%
Precious Metals 6.21% 12.22% 18.42% 22.45%
TOTAL 50.03% 49.97% 100.00% 100.00%

*this column reflects the sector exposures of the Bloomberg Commodity Benchmark. Please note that in practice, exposures may differ slightly due to enhanced index techniques.

% of Market Value

Portfolio Managers

Portfolio Managers

Alastair Bishop
Alastair Bishop
Rob Shimell
Rob Shimell
Hannah Johnson
Hannah Johnson
Elliott Char
Elliott Char
Portfolio Manager
Read the Team's Commentary

Literature

Literature

 

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