Equity

BDMCX

Global Equity Market Neutral Fund

Overview

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Performance

Performance

  1y 3y 5y 10y
24.75 10.65 5.99 3.11
23.75 10.65 5.99 3.11
Morningstar Category Avg. (%) 10.85 8.44 4.79 3.17
Morningstar Ranking 4/43 12/40 17/39 20/29
Morningstar Quartile 1 2 2 3
Lipper Category Avg. (%) 17.38 6.74 7.41 4.90
Lipper Ranking 39/180 31/163 101/152 75/94
Lipper Quartile 1 1 3 4
  YTD 1m 3m 1y 3y 5y 10y
17.07 0.97 1.13 24.75 35.49 33.76 35.85
16.07 -0.04 0.19 23.75 35.49 33.76 35.85
Morningstar Category Avg. (%) 9.34 0.03 1.65 10.85 27.53 26.35 36.58
Lipper Category Avg. (%) 11.58 0.83 3.45 17.38 22.94 45.35 66.58
  2019 2020 2021 2022 2023
Total Return (%) -1.79 -0.74 2.33 0.74 13.51
Annual w/ Sales Charge (%) -2.71 -1.73 1.33 -0.26 12.51
Morningstar Category Avg. (%) 0.06 -5.26 6.95 5.86 5.09

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

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.

 

On 3/1/2021 the Fund began to track the 4pm pricing variant of the ICE BofA 3-MO US Treasury Bill. Historical index data prior to 3/1/2021 is for the 3pm pricing variant of the ICE BofA 3-MO US Treasury Bill. Index data on and after 3/1/2021 is for the 4pm pricing variant of the ICE BofA 3-MO US Treasury Bill.
Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Oct 11, 2024
$2,449.7 M
Share Class launch date
Dec 20, 2012
Distribution Frequency
Annual
Lipper Classification
Alt Long/Short Equity
Max Offer Price
as of Oct 11, 2024
$12.66
Turnover Percent in the Annual Report
as of Apr 30, 2024
27%
Size of Class (Millions)
as of Oct 11, 2024
$10.9 M
Asset Class
Equity
Morningstar Category
Equity Market Neutral
CUSIP
091936534
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio - Long
as of Jul 31, 2024
16.14
P/E Ratio - Short
as of Jul 31, 2024
17.26
R-Squared (3y)
as of Sep 30, 2024
23.12
Market Cap - Short (Millions)
as of Jul 31, 2024
$ 40,926.4 M
Beta (3y)
as of Sep 30, 2024
4.13
Worst 3-Month Return Over the Last 3 Years
3 months ending Apr 30, 2022
-1.94%
Number of Holdings (Short)
as of Jul 31, 2024
1548
P/B Ratio
as of Sep 30, 2024
-0.58
Alpha (3y)
as of Sep 30, 2024
-0.33
Market Cap - Long (Millions)
as of Jul 31, 2024
$ 92,556.1 M
Fund Standard Deviation (3y)
as of Sep 30, 2024
5.47
Best 3-Month Return Over the Last 3 Years
3 months ending Mar 31, 2024
9.18%
Number of Holdings (Long)
as of Jul 31, 2024
1480
Active Share
as of Sep 30, 2024
336.89%
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager may include ESG considerations in the research and decision phases of the investment process. Funds with ESG-related objectives may also include ESG considerations in the portfolio construction phase of the investment process. The research phase may include relevant, internal ESG research used to assess certain characteristics, including, but not limited to, economic and environmental transition, market structure, superior growth, management quality, and risk characteristics associated with environmental, social, and governance matters. ESG insights may be combined with other internal research views to inform active portfolio weighting versus a reference benchmark (or weighting implemented to achieve an absolute return outcome, if applicable). The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate metrics, and other factors.

Fees

Fees

as of current prospectus
Gross Expense Ratio 2.52%
Net Expense Ratio 2.35%

Net Expense Ratio excluding Investment Related Expenses is 2.34%

  • 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 Sep 30, 2024 out of 162, 12,357, 163, 26 and 163 Funds, respectively in Lipper's Alt Long/Short Equity classification.

Holdings

Holdings

Name Market Value Weight (%) Shares
as of Sep 30, 2024
Issuer Weight (%)
SWISS MKT IX DEC 24 0.91
AMSTERDAM INDEX OCT 24 0.46
NIKKEI DIVIDEND XSIM DEC 26 0.28
NIKKEI DIVIDEND XSIM DEC 25 0.28
Issuer Weight (%)
FTSE 100 DIVIDEND IDX IFLL DEC 25 0.27
FTSE 100 DIVIDEND IDX IFLL DEC 26 0.27
EURO STOXX 50 DIVIDEND XEUR DEC 25 0.27
EURO STOXX 50 DIVIDEND XEUR DEC 26 0.26
as of Jul 31, 2024
Name Fund Weight (%)
CANADIAN PACIFIC KANSAS CITY -3.09
TESLA INC -2.51
JOHNSON CONTROLS INTERNATIONAL PLC -2.49
DIAMONDBACK ENERGY INC -2.44
INTUITIVE SURGICAL INC -2.41
Name Fund Weight (%)
BOEING CO -2.34
AIR PRODUCTS AND CHEMICALS INC -2.31
AFLAC INCORPORATED -2.17
T-MOBILE US INC -1.83
ROPER TECHNOLOGIES INC -1.73
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.

Exposure Breakdowns

Exposure Breakdowns

as of Sep 30, 2024

% of Market Value

Type Long Short Net
as of Sep 30, 2024

% of Market Value

Type Long Short Net
as of Sep 30, 2024

% of Market Value

Type Long Short Net
as of Sep 30, 2024

% 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
Global Head of BlackRock Systematic and Co-Chief Investment Officer and Co-Head of BlackRock’s Systematic Equities
Kevin Franklin
Managing Director, Systematic Equities

     

Richard Mathieson
Managing Director, Systematic Equities
Portfolio Manager

Literature

Literature

 

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