Multi Asset

BDHKX

Dynamic High Income Fund

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.
-0.75 3.33 6.38 - 4.69
Benchmark (%) 9.95 7.32 8.80 - 6.86
Morningstar Category Avg. (%) -1.88 1.23 4.08 4.59 -
Morningstar Ranking 294/458 179/379 - - -
Morningstar Quartile 3 2 2 - -
Lipper Ranking 369/513 227/454 - - -
Lipper Quartile 3 2 - - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
-4.37 -1.25 4.63 -0.75 10.32 36.25 - 31.07
Benchmark (%) 3.72 -2.43 5.76 9.95 23.61 52.48 - 47.98
Morningstar Category Avg. (%) -5.33 -1.49 -0.97 -1.88 3.74 22.11 56.62 -
  2015 2016 2017 2018 2019
Total Return (%) - 8.48 14.64 -6.91 19.92
Benchmark (%) -0.24 6.18 16.45 -5.96 21.92
Morningstar Category Avg. (%) -4.15 6.04 14.79 -8.26 16.10
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. Effective as of May 31, 2018, the performance information for periods prior to the inception date of the share class shows the performance of the Fund’s Institutional Shares. The performance of this share class would be substantially similar to Institutional Shares because this share class and Institutional Shares invest in the same portfolio of securities and performance would only differ to the extent that this share class and Institutional Shares have different expenses. For performance periods prior to May 31, 2018, the performance information for periods prior to the inception date of the share class shows the performance of the Fund’s Institutional Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

Key Facts

Key Facts

Size of Class (Millions) as of Nov 24, 2020 $170.8 M
Size of Fund (Millions) as of Nov 24, 2020 $1,235.0 M
Share Class launch date Mar 28, 2016
Asset Class MultiAsset
Morningstar Category World Allocation
Lipper Classification Flexible Portfolio Funds
Benchmark Index 70% MSCI World Ind(Net TR)/30% BBG Bar US Agg Ind
CUSIP 09257E779
Distribution Frequency None
Number of Holdings as of Oct 30, 2020 1,869
Max Offer Price as of Nov 24, 2020 $9.53
Open to New Investors Yes
Turnover Percent in the Annual Report 94%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Oct 31, 2020 89.44
Fund Sharpe Ratio (3y) as of Oct 31, 2020 0.13
30 Day SEC Yield as of Oct 31, 2020 5.63%
Unsubsidized 30-Day SEC Yield as of Oct 31, 2020 5.49%
Effective Duration as of Oct 30, 2020 2.78 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 13.02%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -19.13%
Fund Standard Deviation (3y) as of Oct 31, 2020 13.20

For the latest month-end Distribution Yield, click here.


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 0.87%
Net Expense Ratio 0.72%

Net Expense Ratio excluding Investment Related Expenses is 0.60%

  • Acquired Fund Fees and Expenses 0.12%
  • 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 438, 4,467, 442, 216 and 442 Funds, respectively in Lipper's Flexible Portfolio Funds 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 Apr 20, 2020)

Holdings

Holdings

as of Oct 30, 2020
Name Weight (%)
RUSSELL 2000 - ELN 0.99
MICROSOFT CORP - ELN 0.74
ALPHABET INC CLASS A - ELN 0.72
JOHNSON & JOHNSON - ELN 0.61
JPMORGAN CHASE & CO - ELN 0.55
Name Weight (%)
UNITEDHEALTH GROUP INC - ELN 0.55
AMAZON COM INC - ELN 0.50
TENCENT HOLDINGS LTD 0.48
TAIWAN SEMICONDUCTOR MANUFACTURING 0.46
ABBOTT LABORATORIES - ELN 0.43
as of Oct 30, 2020
Name Weight (%)
ISHARES IBOXX $ HIGH YIELD CORP BO 1.11
WELLS FARGO DEPOSITARY SHARES CO 0.45
BANK OF AMERICA CORP 6.25 12/31/2049 0.43
DANSKE BANK A/S RegS 7 12/31/2049 0.34
CREDIT AGRICOLE SA 144A 8.125 12/31/2049 0.34
Name Weight (%)
NORDEA BANK ABP 144A 6.625 12/31/2049 0.33
MACQUARIE BANK LTD (LONDON BRANCH) 144A 6.125 12/31/2049 0.33
CREDIT SUISSE GROUP AG 144A 6.25 12/31/2049 0.32
TRANSDIGM INC 144A 6.25 03/15/2026 0.31
UNICREDIT SPA RegS 8 12/31/2049 0.28

Exposure Breakdowns

Exposure Breakdowns

as of Oct 30, 2020

% of Market Value

Type Fund
Allocations subject to change.
as of Oct 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Oct 30, 2020

% of Market Value

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

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

Michael Fredericks
Head of Income Investing for BlackRock Multi-Asset Strategies Team

   

Justin Christofel, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

   

Alex Shingler, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

     

Portfolio Manager

Literature

Literature

 

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