Equity

BMEAX

High Equity Income Fund

How To Buy
  • NAV as of Nov 24, 2020 $21.91
    52 WK: 14.63 - 23.70
  • 1 Day NAV Change as of Nov 24, 2020 0.51 (2.38%)
  • NAV Total Return as of Nov 24, 2020 YTD: -0.72%

Overview

About this Fund

  • Large-cap value portfolio of high quality companies
  • Focused on income through equity and covered calls
  • Seeks high income and lower volatility equity returns

Investment Approach

The Fund seeks high current income with consideration for capital appreciation by investing in common stocks that pay dividends and have the potential for capital appreciation. The fund also utilizes an option writing (selling) strategy to enhance distributions paid to the Fund's shareholders. The Fund invests, under normal market conditions, at least 80% of its total assets in dividend paying equities.
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Performance

Performance

Growth of Hypothetical $10,000

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Cum. Fund Perf. Since Inception: 1,028.64

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 Income ST Cap Gains LT Cap Gains Return of Capital

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Year Total Distribution Income ST Cap Gains LT Cap Gains

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



  1y 3y 5y 10y
Total Return (%) -8.68 0.03 4.53 7.77
Return w/ Sales Charge (%) -13.47 -1.75 3.40 7.19
Benchmark (%) -5.03 2.63 7.66 9.95
Morningstar Category Avg. (%) -0.35 2.23 3.28 4.74
Morningstar Ranking 178/146 82/104 36/61 3/15
Morningstar Quartile 4 4 3 1
Lipper Category Avg. (%) 26.76 16.74 15.50 13.92
Lipper Ranking 406/481 389/448 347/387 204/236
Lipper Quartile 4 4 4 4
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) -14.64 -1.94 1.57 -8.68 0.10 24.78 111.41
Return w/ Sales Charge (%) -19.13 -7.09 -3.75 -13.47 -5.15 18.22 100.31
Benchmark (%) -11.58 -2.46 5.59 -5.03 8.11 44.61 158.14
Morningstar Category Avg. (%) -2.58 -1.16 0.03 -0.35 6.83 17.52 58.95
Lipper Category Avg. (%) 17.59 -1.01 10.24 26.76 60.94 108.53 274.74
  2015 2016 2017 2018 2019
Total Return (%) -1.96 6.71 17.21 -6.39 21.66
Benchmark (%) -3.83 17.34 13.66 -8.27 26.54
Morningstar Category Avg. (%) -0.51 5.45 9.08 -5.51 14.59
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 U.S. Opportunities Portfolio.”

Key Facts

Key Facts

Size of Class (Millions) as of Nov 24, 2020 $184.2 M
Size of Fund (Millions) as of Nov 24, 2020 $333.2 M
Share Class launch date May 01, 1998
Asset Class Equity
Morningstar Category Options-based
Lipper Classification Equity Income Funds
Benchmark Index Russell 1000 Value Index (Total Return)
CUSIP 091929810
Distribution Frequency Monthly
Number of Holdings as of Oct 30, 2020 131
Max Offer Price as of Nov 24, 2020 $23.12
Open to New Investors Yes
Turnover Percent in the Annual Report 79%

Portfolio Characteristics

Portfolio Characteristics

P/B Ratio as of Oct 30, 2020 1.34
P/E Ratio - Forward as of Oct 30, 2020 12.61
Average Market Cap (Millions) as of Oct 30, 2020 $ 82,579.7 M
Alpha (3y) as of Oct 31, 2020 -0.22
R-Squared (3y) as of Oct 31, 2020 97.56
Beta (3y) as of Oct 31, 2020 0.87
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 13.50%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -25.96%
Fund Standard Deviation (3y) as of Oct 31, 2020 16.10
Active Share as of Oct 30, 2020 84.46%

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 1.41%
Net Expense Ratio 1.10%

Net Expense Ratio excluding Investment Related Expenses is 1.10%

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

Ratings

Ratings

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 Oct 31, 2020 out of 452, 12,117, 453, 127 and 452 Funds, respectively in Lipper's Equity Income Funds classification.

Holdings

Holdings

as of Oct 30, 2020
Name Weight (%)
VERIZON COMMUNICATIONS INC 4.29
GENERAL MOTORS 2.58
WELLS FARGO 2.20
MARATHON PETROLEUM CORP 2.05
VERIZON COMMUNICATIONS INC - ELN 1.93
Name Weight (%)
BAE SYSTEMS PLC 1.91
PALANTIR TECHNOLOGIES LOCK UP Prvt 1.83
MEDTRONIC PLC 1.78
AMERICAN INTERNATIONAL GROUP INC 1.78
US BANCORP 1.75

Exposure Breakdowns

Exposure Breakdowns

as of Oct 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Oct 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Oct 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Oct 30, 2020

% of Market Value

Type Fund Benchmark Net
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 Managers

Tony DeSpirito
Tony DeSpirito
BlackRock Fundamental Active Equity Investment Team

   

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Antonio (Tony) DeSpirito, Managing Director, is Chief Investment Officer of U.S. Fundamental Active Equity. He is also lead portfolio manager of the BlackRock Equity Dividend portfolios.

 

Mr. DeSpirito joined BlackRock in 2014. He was previously a Managing Principal, portfolio manager, and member of the Executive Committee at Pzena Investment Management, where he was responsible for a suite of long-only value products and two hedge fund portfolios. Mr. DeSpirito has managed value equity assets since 1996, serving as a portfolio manager for the John Hancock Classic Value, PACE Large Company Value, and Vanguard Windsor funds.

 

Mr. DeSpirito earned a BS degree in economics with a concentration in finance, summa cum laude, from the Wharton School of the University of Pennsylvania and a JD degree, magna cum laude, from Harvard Law School.

Kyle McClements
Kyle McClements
Franco Tapia, CFA,
Franco Tapia, CFA,
Portfolio Manager

 

 

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Franco Tapia, CFA, Managing Director, is Co-Director of Research for the US Income & Value team within the Fundamental Active Equity business of BlackRock's Active Equities Group. Mr. Tapia is a Portfolio Manager for the BlackRock Equity Dividend portfolios. He also has partial research coverage for the consumer sectors.


Prior to joining BlackRock, Franco was a Senior Equity Research Analyst and Portfolio Manager at Pzena Investment Management covering IT services & hardware, EM banks, US REITs, US P&C insurance and US retail as well as being an EM & US small cap generalist. Prior to his role at Pzena, Franco worked as a consultant at the Boston Consulting Group, and earlier as a financial advisor within the Private Client Group at Morgan Stanley. Franco began his career as a consultant at what is now IBM Strategy and Analysis.


Franco holds a MBA from The Wharton School of the University of Pennsylvania, where he graduated as a Palmer Scholar. Franco also holds a BA of Arts with a major in Economics from Harvard University where he graduated with honors.

David Zhao
David Zhao
Portfolio Manager

  

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David Zhao, Managing Director, is Co-Director of Research for the US Income & Value team within the Fundamental Active Equity business of BlackRock's Active Equities Group. Mr. Zhao is a Portfolio Manager for the BlackRock Equity Dividend portfolios.

 

He also has partial research coverage for the information technology and telecoms sectors. Prior to joining BlackRock, David was a Global Equity Senior Research Analyst and Principal at Pzena Investment Management covering technology, US banks/brokers, medical technology, non-life insurance, financial technology and select industrials. David began his career as an Analyst at Lehman Brothers covering technology M&A; and later within the Institutional Equities Corporate Strategy Group.

 

David holds a BA of Arts with degrees in Economics and Computer Information Systems and graduated Cum Laude from Northwestern University.

Christopher Accettella
Christopher Accettella
Portfolio Manager
Read the Team's Commentary

Literature

Literature

 

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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 ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

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

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