International Dividend Fund | BRESX

Overview

Investment Approach

Invests in the equity securities of international companies that pay attractive, sustainable and growing dividends with the aim of providing international equity returns with less volatility.

Next: Previous:

Performance

Returns

Average Annual
Cumulative
Calendar Year

	1y	3y	5y	10y
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.	3.58	3.52	1.97	3.54
Benchmark (%) Index: MSCI All Country World ex US Index (Net TR).<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.	-1.23	6.33	2.90	4.45
Morningstar Category Avg. (%) Foreign Large Blend	10.25	7.47	3.74	5.13
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking.	28/722	540/618	364/488	303/364
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking.	1	4	4	4
Lipper Category Avg. (%) International Multi-Cap Growth	-1.05	6.31	3.91	5.48
Lipper Ranking Rankings are based on total return excluding sales charges.	23/96	61/85	25/66	25/36
Lipper Quartile Rankings are based on total return excluding sales charges.	1	3	2	3

Missing average annual returns data

	YTD	1m	3m	1y	3y	5y	10y
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.	13.88	-0.33	-0.18	3.58	10.93	10.23	41.61
Benchmark (%) Index: MSCI All Country World ex US Index (Net TR).<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.	11.56	2.57	-1.80	-1.23	20.22	15.38	54.63
Morningstar Category Avg. (%) Foreign Large Blend	15.89	3.34	3.83	10.25	24.14	20.17	64.90
Lipper Category Avg. (%) International Multi-Cap Growth	15.31	1.35	-1.40	-1.05	20.35	21.71	72.66

Missing cumulative returns data

	2014	2015	2016	2017	2018
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.	-11.43	-0.90	0.48	16.39	-13.30
Benchmark (%) Index: MSCI All Country World ex US Index (Net TR)<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.	-3.87	-5.66	4.50	27.19	-14.20
Morningstar Category Avg. (%) Foreign Large Blend	-4.98	-1.59	0.79	25.12	-14.59

Missing calendar year returns data

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.

The Fund's returns prior to June 12, 2017 are the returns of the Fund when it followed different investment strategies under the name “BlackRock International Opportunities Portfolio.”

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.

Growth of Hypothetical $10,000
Historical NAVs

International Dividend Fund ($)

Cum. Fund Perf. Since Inception: 712.40

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.

Historical NAVs

Distributions

Interactive chart displaying fund performance. Javascript is required.

Recent
Calendar Year

Chart
Table

Interactive chart displaying fund performance. Javascript is required.

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

Chart
Table

Interactive chart displaying fund performance. Javascript is required.

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

Size of Class (Millions) as of Dec 10, 2019 $3.3 M

Size of Fund (Millions) as of Dec 10, 2019 $233.7 M

Share Class launch date Sep 26, 1997

Asset Class Equity

Morningstar Category Foreign Large Blend

Lipper Classification International Equity Income

Benchmark Index MSCI All Country World ex US Index (Net TR)

CUSIP 091929208

Distribution Frequency How often a distribution is paid by the fund. The most common distribution frequencies are annually, biannually and quarterly. Annual

Number of Holdings as of Oct 31, 2019 32

Max Offer Price as of Dec 10, 2019 $28.19

Open to New Investors Yes

Turnover Percent as of Nov 30, 2019 22%

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 Oct 31, 2019 18.71

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 Oct 31, 2019 2.93

Average Market Cap (Millions) The average size of the securities the fund invests in. as of Oct 31, 2019 $ 79,836.3 M

Alpha (3y) Compared to S&P Developed ex US SmallCap Index. Alpha is calculated at the portfolio level. 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's alpha. as of Nov 30, 2019 0.01

R-Squared (3y) as of Nov 30, 2019 70.88

Beta (3y) as of Nov 30, 2019 0.74

Best 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2019 12.51%

Worst 3-Month Return Over the Last 3 Years 3 months ending Dec 31, 2018 -9.04%

Active Share Active Share measures the percentage of fund holdings that is different from the benchmark holdings at a point in time. It is calculated by taking the sum of the absolute value of the differences of the weight of each holding in a fund’s portfolio versus the weight of each holding in a benchmark index and dividing by two. A fund that has no holdings in common with the benchmark will have an Active Share of 100%, and a fund that has exactly the same holdings as the benchmark considered will have an Active Share of 0%. Active Share levels can vary depending on the underlying benchmark and investment universe. Funds with more concentrated benchmarks or smaller investment universes will typically have lower Active Share. Active Share is not indicative of future performance or a measure of expected return deviation from the benchmark. as of Oct 31, 2019 91.20%

This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

as of current prospectus

Gross Expense Ratio	1.36%
Net Expense Ratio The difference between gross and net expense ratios are due to contractual and/or voluntary waivers, if applicable. Any applicable contractual waiver will be terminable upon 90 days’ notice. BlackRock may agree to voluntarily waive certain fees and expenses, which the adviser may discontinue at any time without notice. For this share class, the contractual waiver end date is Jan 31, 2020.	1.09%

Net Expense Ratio excluding Investment Related Expenses is 1.09%

Ratings

Lipper Leader

Lipper Leader Ratings

Expense International Dividend Fund received the following Expense ratings for the 3-, 5-, and 10-year periods, respectively: 4 (17 funds), 5 (14 funds), and 4 (9 funds). Lipper ratings for Expense reflect funds' expense minimization relative to peers with similar load structures.

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 Nov 30, 2019 out of 85, 12,203, 85, 17 and 85 Funds, respectively in Lipper's International Equity Income classification.

Holdings

as of Oct 31, 2019

Name	Weight (%)
TELUS CORPORATION	6.85
GLAXOSMITHKLINE PLC	5.29
ROGERS COMMUNICATIONS INC	5.25
AMCOR PLC	4.98
DEUTSCHE POST AG	4.83

Name	Weight (%)
NESTLE SA	4.76
BRITISH AMERICAN TOBACCO PLC	4.50
NOVARTIS AG	4.38
UNILEVER PLC	4.23
BAE SYSTEMS PLC	3.76

as of Oct 31, 2019

% of Market Value

Type	Fund	Benchmark	Net

Show All Show Fewer

as of Oct 31, 2019

% of Market Value

Type	Fund	Benchmark	Net

Show All Show Fewer

as of Oct 31, 2019

% of Market Value

Type	Fund	Benchmark	Net

Show All Show Fewer

as of Oct 31, 2019

% of Market Value

Type	Fund	Benchmark	Net

Show All Show Fewer

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 Manager, Global Dividend Income and Long Horizon

Portfolio Manager

Read the Team's Commentary

Literature

More Products

Funds related to BRESX

BIBDX Global Dividend Fund

Learn more about BIBDX

ACWI iShares MSCI ACWI ETF

Learn more about ACWI

IEFA iShares Core MSCI EAFE ETF

Learn more about IEFA

EFA iShares MSCI EAFE ETF

Learn more about EFA

There are many ways to access BlackRock Funds, learn how you can add them to your portfolio

Learn More Learn More

Important Information

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting the iShares Fund and BlackRock Fund prospectus pages. Read the prospectus carefully before investing.

The fund is actively managed and its characteristics will vary.

Stock and bond values fluctuate in price so the value of your investment can go down depending on market conditions.

International investing involves special risks including, but not limited to currency fluctuations, illiquidity and volatility. These risks may be heightened for investments in emerging markets.

Investments in emerging markets may be considered speculative and are more likely to experience hyperinflation and currency devaluations, which adversely affect returns. In addition, many emerging securities markets have lower trading volumes and less liquidity.

The fund may use derivatives to hedge its investments or to seek to enhance returns. Derivatives entail risks relating to liquidity, leverage and credit that may reduce returns and increase volatility.

Investing in small- and mid-cap companies may entail greater risk than large-cap companies, due to shorter operating histories, less seasoned management or lower trading volumes.

Performance may be attributable to unusually high IPO profits. There is no guarantee this level of performance will be repeated. IPO securities have no trading history and the price may be volatile.

Performance results reflect past performance and are no guarantee of future results. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of all dividends. Performance information shown without sales charge would have been lower if the applicable sales charge had been included. Performance during periods of exceptional market conditions should not be expected to be repeated in a normal market environment. Current performance may be lower or higher than the performance data quoted.

Investing involves risk, including possible loss of principal.

Fund details, holdings and characteristics are as of the date noted and subject to change.

Yields are based on income earned for the period cited and on the Fund's NAV at the end of the period.

Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Those distributions temporarily cause extraordinarily high yields. There is no assurance that a fund will repeat that yield in the future. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

© 2019 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, BUILD ON BLACKROCK, ALADDIN, iSHARES, iBONDS, iSHARES CONNECT, FUND FRENZY, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, the iShares Core Graphic, CoRI and the CoRI logo are registered and unregistered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.

USRMH0519U-851467