Commodity

BICSX

Commodity Strategies Fund

  • NAV as of Apr 06, 2026 $12.59
    52 WK: 8.16 - 12.59
  • 1 Day NAV Change as of Apr 06, 2026 $0.04 (0.32%)
  • NAV Total Return as of Apr 06, 2026 YTD: 21.64%
  • Morningstar Rating
  • Fees as stated in the prospectus Expense Ratio: 0.87%
    Net Expense Ratio: 0.72%

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

Distributions

This fund does not have any distributions.
Record Date Ex-Date Payable Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

Past distributions are not indicative of future distributions.

Certain Funds record and have an ex-dividend date daily on undistributed net investment income, with distributions paid monthly.

Click here for historical distribution data and here for upcoming distribution estimates

  1y 3y 5y 10y
Total Return (%) 42.08 16.45 14.50 10.41
Benchmark (%) 32.29 13.88 14.04 8.02
Morningstar Category Avg. (%) 30.84 13.69 14.37 8.83
Morningstar Ranking 8/107 12/98 29/92 10/66
Morningstar Quartile 1 1 2 1
Lipper Category Avg. (%) 30.39 12.84 13.68 8.37
Lipper Ranking 9/105 11/97 29/93 11/70
Lipper Quartile 1 1 2 1
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 20.39 1.63 20.39 42.08 57.92 96.80 169.18
Benchmark (%) 24.41 11.50 24.41 32.29 47.69 92.91 116.20
Morningstar Category Avg. (%) 21.48 9.09 21.48 30.84 46.96 95.72 133.17
Lipper Category Avg. (%) 21.79 9.38 21.79 30.39 44.17 91.38 127.80
  2021 2022 2023 2024 2025
Total Return (%) 22.44 12.07 -4.33 4.41 28.67
Benchmark (%) 27.11 16.09 -7.91 5.38 15.77
Morningstar Category Avg. (%) 29.74 15.74 -5.56 5.84 15.89
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 Apr 06, 2026
$1,218.2 M
Share Class launch date
Oct 03, 2011
Benchmark Index
Bloomberg Commodity Index Total Return
Lipper Classification
Commodities General
Max Offer Price
as of Apr 06, 2026
$12.59
Turnover Percent in the Annual Report
as of May 31, 2025
106%
Size of Class (Millions)
as of Apr 06, 2026
$813.8 M
Asset Class
Commodity
Morningstar Category
Commodities Broad Basket
CUSIP
091936666
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio
as of Mar 31, 2026
22.15
Alpha (3y)
as of Mar 31, 2026
0.59
R-Squared (3y)
as of Mar 31, 2026
46.05
Beta (3y)
as of Mar 31, 2026
0.65
Best 3-Month Return Over the Last 3 Years
3 months ending Feb 28, 2026
20.84%
P/B Ratio
as of Mar 31, 2026
2.37
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of Mar 31, 2026
11.95
Effective Duration
as of Mar 31, 2026
0.07 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Feb 29, 2024
-4.73%
For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.87%
Net Expense Ratio 0.72%

Net Expense Ratio excluding Investment Related Expenses is 0.72%

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

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for Commodity Strategies Fund, as of Mar 31, 2026 rated against 98 Commodities Broad Basket Funds based on risk adjusted total return.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective Feb 28, 2026)
Analyst-Driven % as of Feb 28, 2026
10.00
Data Coverage % as of Feb 28, 2026
96.00

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 Feb 28, 2026 out of 97, 11,961, 97, 128 and 97 Funds, respectively in Lipper's Commodities General classification.

Holdings

Holdings

as of Feb 27, 2026
Name Weight (%)
NUTRIEN LTD 3.45
EXXON MOBIL CORP 2.91
SMURFIT WESTROCK PLC 2.90
CORTEVA INC 2.64
PACKAGING CORP OF AMERICA 1.98
Name Weight (%)
BUNGE GLOBAL LTD 1.98
CHEVRON CORP 1.62
NEWMONT CORPORATION 1.33
SHELL PLC 1.31
BARRICK MINING CORP 1.30
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.

Top Holdings

Exposure Breakdowns

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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