Multi Asset

BDHKX

Dynamic High Income Fund

Overview

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Performance

Performance

  1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
-4.05 2.83 4.11 - 4.06
Benchmark (%) Index: 70% MSCI World Ind(Net TR)/30% BBG Bar US Agg Ind.<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. 5.08 6.60 6.36 - 6.12
Morningstar Category Avg. (%) World Allocation -3.32 1.54 2.70 5.44 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 305/471 171/399 - - -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 3 2 1 - -
Lipper Ranking Rankings are based on total return excluding sales charges. 366/531 228/474 - - -
Lipper Quartile Rankings are based on total return excluding sales charges. 3 2 - - -
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.

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.

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Distributions

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Key Facts

Key Facts

Size of Class (Millions) as of Jul 10, 2020 $5.2 M
Size of Fund (Millions) as of Jul 10, 2020 $1,159.3 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
Number of Holdings as of Jun 30, 2020 1,615
Max Offer Price as of Jul 10, 2020 $8.86
Open to New Investors Yes
Turnover Percent in the Annual Report 69%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Jun 30, 2020 91.20
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 Jun 30, 2020 12.99

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.

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 Jun 30, 2020 out of 470, 4,694, 474, 230 and 474 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 Jun 30, 2020
Name Weight (%)
ISHARES CORE S&P ETF 0.82
CISCO SYSTEMS INC - ELN 0.48
INTEL CORPORATION CORP - ELN 0.48
AIR PRODUCTS AND CHEMICALS INC - ELN 0.45
MASTERCARD INC CLASS A - ELN 0.43
Name Weight (%)
HUMANA INC - ELN 0.42
BANK OF AMERICA CORP - ELN 0.42
TENCENT HOLDINGS LTD 0.41
3M - ELN 0.41
PEPSICO INC - ELN 0.40
as of Jun 30, 2020
Name Weight (%)
ISHARES IBOXX $ INV GRADE CORPORAT 2.10
WELLS FARGO DEPOSITARY SHARES CO 0.46
BANK OF AMERICA CORP 6.25 12/31/2049 0.44
CREDIT AGRICOLE SA 144A 8.125 12/31/2049 0.35
MACQUARIE BANK LTD (LONDON BRANCH) 144A 6.125 12/31/2049 0.34
Name Weight (%)
CREDIT SUISSE GROUP AG 144A 6.25 12/31/2049 0.33
FREEPORT-MCMORAN COPPER & GOLD INC 5.45 03/15/2043 0.31
NORDEA BANK ABP 144A 6.625 12/31/2049 0.31
STANDARD CHARTERED PLC 144A 7.5 12/31/2049 0.30
BARCLAYS PLC RegS 7.875 12/31/2049 0.29

Exposure Breakdowns

Exposure Breakdowns

as of Jun 30, 2020

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Jun 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Jun 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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