Commodity

BCSAX

Commodity Strategies Fund

  • NAV as of Dec 04, 2025 $10.27
    52 WK: 8.08 - 10.27
  • 1 Day NAV Change as of Dec 04, 2025 $0.04 (0.39%)
  • NAV Total Return as of Dec 04, 2025 YTD: 26.75%
  • Morningstar Rating
  • Fees as stated in the prospectus Expense Ratio: 1.14%
    Net Expense Ratio: 0.97%

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
Total Return (%) 15.79 9.75 13.09 7.69
Return w/ Sales Charge (%) 9.71 7.80 11.88 7.11
Benchmark (%) 8.88 2.76 11.53 3.96
Morningstar Category Avg. (%) 11.02 5.43 13.22 5.13
Morningstar Ranking 10/105 8/95 36/91 10/66
Morningstar Quartile 1 1 2 1
Lipper Category Avg. (%) 9.33 4.27 12.76 4.89
Lipper Ranking 8/104 7/95 36/92 10/69
Lipper Quartile 1 1 2 1
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 20.95 3.81 8.79 15.79 32.20 85.00 109.82
Return w/ Sales Charge (%) 14.60 -1.64 3.08 9.71 25.26 75.29 98.81
Benchmark (%) 9.38 2.15 3.65 8.88 8.50 72.59 47.52
Morningstar Category Avg. (%) 11.02 2.20 5.35 11.02 17.19 86.04 64.98
Lipper Category Avg. (%) 9.96 1.93 4.73 9.33 13.68 83.91 64.03
  2020 2021 2022 2023 2024
Total Return (%) 6.65 22.11 11.87 -4.62 4.18
Annual w/ Sales Charge (%) 1.05 15.70 6.00 -9.63 -1.29
Benchmark (%) -3.12 27.11 16.09 -7.91 5.38
Morningstar Category Avg. (%) -3.09 29.74 15.74 -5.56 5.84

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 historical distribution data and here for upcoming distribution estimates

Key Facts

Key Facts

Size of Fund (Millions)
as of Dec 04, 2025
$817.3 M
Share Class launch date
Oct 03, 2011
Benchmark Index
Bloomberg Commodity Index Total Return
Lipper Classification
Commodities General
Max Offer Price
as of Dec 04, 2025
$10.84
Turnover Percent in the Annual Report
as of May 31, 2025
106%
Size of Class (Millions)
as of Dec 04, 2025
$106.7 M
Asset Class
Commodity
Morningstar Category
Commodities Broad Basket
CUSIP
091936682
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio
as of Oct 31, 2025
21.71
Alpha (3y)
as of Nov 30, 2025
0.34
R-Squared (3y)
as of Nov 30, 2025
57.40
Beta (3y)
as of Nov 30, 2025
0.84
Best 3-Month Return Over the Last 3 Years
3 months ending May 31, 2024
12.29%
P/B Ratio
as of Oct 31, 2025
1.87
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of Nov 30, 2025
10.94
Effective Duration
as of Oct 31, 2025
0.08 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending May 31, 2023
-5.95%
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 1.14%
Net Expense Ratio 0.97%

Net Expense Ratio excluding Investment Related Expenses is 0.97%

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

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Commodity Strategies Fund, as of Nov 30, 2025 rated against 96 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 Sep 30, 2025 out of 95, 12,058, 95, 30 and 95 Funds, respectively in Lipper's Commodities General classification.

Holdings

Holdings

as of Oct 31, 2025
Name Weight (%)
NUTRIEN LTD 2.98
CORTEVA INC 2.98
EXXON MOBIL CORP 2.48
SMURFIT WESTROCK PLC 2.23
PACKAGING CORP OF AMERICA 1.98
Name Weight (%)
NEWMONT CORPORATION 1.74
BUNGE GLOBAL SA 1.63
AGNICO EAGLE MINES LTD (ONTARIO) 1.55
BARRICK MINING CORP 1.48
SHELL PLC 1.31
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.

Portfolio Managers

Portfolio Managers

Alastair Bishop
Alastair Bishop
Hannah Johnson
Hannah Johnson
Portfolio Manager
Read the Team's Commentary

This fund does not seek to follow a sustainable, impact or ESG investment strategy. For more information regarding the fund's investment strategy, please see the fund's prospectus or, as applicable, shareholder report.

Literature

Literature

 

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