Commodity

BICSX

Commodity Strategies Fund

  • NAV as of Jul 17, 2026 $11.93
    52 WK: 9.03 - 12.81
  • 1 Day NAV Change as of Jul 17, 2026 $0.10 (0.85%)
  • NAV Total Return as of Jul 17, 2026 YTD: 15.27%
  • 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

Record Date Ex-Date Payable Date
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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 (%) 27.21 14.23 10.33 8.10
Benchmark (%) 25.46 11.69 9.37 5.83
Morningstar Category Avg. (%) 25.10 12.40 10.00 6.82
Morningstar Ranking 41/108 18/99 26/93 11/68
Morningstar Quartile 2 1 2 1
Lipper Category Avg. (%) 25.31 11.82 9.49 6.46
Lipper Ranking 41/105 16/98 25/92 11/71
Lipper Quartile 2 1 2 1
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 10.05 -7.25 -8.59 27.21 49.05 63.47 117.98
Benchmark (%) 14.36 -8.54 -8.08 25.46 39.33 56.50 76.20
Morningstar Category Avg. (%) 13.91 -7.80 -6.14 25.10 42.00 61.03 93.38
Lipper Category Avg. (%) 14.51 -7.87 -5.84 25.31 40.23 58.35 90.26
  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 Jul 17, 2026
$1,270.9 M
Share Class launch date
Oct 03, 2011
Benchmark Index
Bloomberg Commodity Index
Lipper Classification
Commodities General
Max Offer Price
as of Jul 17, 2026
$11.93
Turnover Percent in the Annual Report
as of May 31, 2025
106%
Size of Class (Millions)
as of Jul 17, 2026
$869.3 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 Jun 30, 2026
10.48
Alpha (3y)
as of Jun 30, 2026
0.53
R-Squared (3y)
as of Jun 30, 2026
49.73
Beta (3y)
as of Jun 30, 2026
0.64
Best 3-Month Return Over the Last 3 Years
3 months ending Feb 28, 2026
20.84%
P/B Ratio
as of Jun 30, 2026
1.11
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of Jun 30, 2026
12.18
Effective Duration
as of Jun 30, 2026
0.11 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Jun 30, 2026
-8.59%
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 Jun 30, 2026 rated against 99 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 Jun 30, 2026 out of 98, 11,917, 98, 128 and 98 Funds, respectively in Lipper's Commodities General classification.

Holdings

Holdings

as of Jun 30, 2026
Name Weight (%)
EXXON MOBIL CORP 8.07
NUTRIEN LTD 6.73
CORTEVA INC 6.43
PACKAGING CORP OF AMERICA 5.18
BUNGE GLOBAL SA 4.79
Name Weight (%)
CHEVRON CORP 4.58
SHELL PLC 4.13
DEERE & CO 3.72
SMURFIT WESTROCK PLC 3.47
TOTALENERGIES SE 2.83
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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