Equity

BDMAX

Global Long/Short Equity Fund ACTIVE

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

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  1y 3y 5y 10y Incept.
-0.94 1.17 1.01 - 2.93
-6.14 -0.63 -0.07 - 2.22
Benchmark (%) 1.10 1.69 1.20 - 0.79
Morningstar Category Avg. (%) -0.82 0.31 0.80 1.04 -
Morningstar Ranking 63/100 58/94 47/70 - -
Morningstar Quartile 3 3 3 - -
Lipper Category Avg. (%) 1.84 2.37 4.20 5.00 -
Lipper Ranking 140/255 128/208 132/161 - -
Lipper Quartile 3 3 4 - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
0.57 -3.25 -3.46 -0.94 3.56 5.18 - 25.23
-4.71 -8.33 -8.52 -6.14 -1.87 -0.34 - 18.65
Benchmark (%) 0.64 0.01 0.04 1.10 5.16 6.14 - 6.27
Morningstar Category Avg. (%) -0.95 -0.56 -0.44 -0.82 0.92 4.07 10.90 -
Lipper Category Avg. (%) -1.71 -1.58 3.56 1.84 8.12 24.40 68.37 -
  2015 2016 2017 2018 2019
Total Return (%) -1.20 -7.14 12.57 1.86 -1.01
Benchmark (%) 0.05 0.33 0.86 1.87 2.28
Morningstar Category Avg. (%) -0.25 2.23 2.37 -0.26 0.45
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.

Key Facts

Key Facts

Size of Class (Millions) as of Nov 23, 2020 $24.0 M
Size of Fund (Millions) as of Nov 23, 2020 $535.7 M
Share Class launch date Dec 20, 2012
Asset Class Equity
Morningstar Category Market Neutral
Lipper Classification Alt Long/Short Equity
Benchmark Index ICE BofA 3-MO US Treasury Bill (G0O1)
CUSIP 091936542
Distribution Frequency Annual
Max Offer Price as of Nov 23, 2020 $11.84
Number of Holdings (Long) as of Sep 30, 2020 1,307.00
Number of Holdings (Short) as of Sep 30, 2020 1,388.00
Open to New Investors Yes
Turnover Percent in the Annual Report 7%

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio - Long as of Sep 30, 2020 13.01
P/E Ratio - Short as of Sep 30, 2020 14.19
Market Cap - Long (Millions) as of Sep 30, 2020 $ 37,159.3 M
Market Cap - Short (Millions) as of Sep 30, 2020 $ 13,667.4 M
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 6.06%
Worst 3-Month Return Over the Last 3 Years 3 months ending Aug 31, 2019 -4.26%
Fund Standard Deviation (3y) as of Oct 31, 2020 5.86
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 2.08%
Net Expense Ratio 1.83%

Net Expense Ratio excluding Investment Related Expenses is 1.82%

  • Acquired Fund Fees and Expenses 0.01%
  • 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 201, 12,117, 202, 51 and 202 Funds, respectively in Lipper's Alt Long/Short Equity classification.

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Jun 23, 2020)

Holdings

Holdings

as of Oct 30, 2020
Name Fund Weight (%)
LEGRAND SA 1.46
SWISS MKT IX DEC 20 1.27
SIKA AG 1.08
SKECHERS U.S.A. INC. 0.86
BOC HONG KONG HOLDINGS LTD 0.79
Name Fund Weight (%)
MOODYS CORPORATION 0.71
COLGATE-PALMOLIVE CO 0.69
NIKE INC 0.69
VISA INC 0.69
COMPAGNIE FINANCIERE RICHEMONT SA 0.65
as of Oct 30, 2020
Name Fund Weight (%)
VERIZON COMMUNICATIONS INC -1.32
ROCHE HOLDING AG -0.96
KROGER CO -0.69
CHARTER COMMUNICATIONS INC -0.64
TARGET CORPORATION -0.58
Name Fund Weight (%)
DOLLAR GENERAL CORPORATION -0.57
QUANTA SERVICES INC. -0.53
NUANCE COMMUNICATIONS INC -0.50
ARROW ELECTRONICS INC -0.49
FRESENIUS MEDICAL CARE AG & CO KGAA -0.48

Exposure Breakdowns

Exposure Breakdowns

as of Oct 30, 2020

% of Market Value

Type Long Short Net
as of Oct 30, 2020

% of Market Value

Type Long Short Net
as of Oct 30, 2020

% of Market Value

Type Long Short Net
as of Oct 30, 2020

% of Market Value

Type Long Short 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

Raffaele Savi
BlackRock Systematic Active Equity Investment Team
Kevin Franklin
BlackRock Systematic Active Equity Investment Team

     

Richard Mathieson
BlackRock Systematic Active Equity Investment Team
Portfolio Manager

Literature

Literature

 

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