Equity

BLZAX

BlackRock Sustainable Aware Advantage Emerging Markets Equity Fund

Overview

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Performance

Performance

Distributions

This fund does not have any distributions.
  1y 3y 5y 10y Incept.
33.70 15.63 3.17 - 6.11
26.68 13.57 2.07 - 5.05
Benchmark (%) 33.57 16.40 4.20 - 7.07
Morningstar Category Avg. (%) 30.55 15.87 4.29 - -
Morningstar Ranking 277/751 399/704 371/620 - -
Morningstar Quartile 2 3 3 - -
Lipper Ranking 284/732 393/688 356/604 - -
Lipper Quartile 2 3 3 - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
33.70 2.93 4.51 33.70 54.62 16.91 - 37.50
26.68 -2.48 -0.98 26.68 46.50 10.77 - 30.28
Benchmark (%) 33.57 2.99 4.73 33.57 57.70 22.81 - 44.25
Morningstar Category Avg. (%) 30.55 2.57 4.73 30.55 55.56 23.35 - -
  2021 2022 2023 2024 2025
Total Return (%) -2.94 -22.10 7.98 7.10 33.70
Annual w/ Sales Charge (%) -8.04 -26.19 2.32 1.47 26.68
Benchmark (%) - - - 7.50 33.57
Morningstar Category Avg. (%) 0.38 -20.86 12.32 6.04 30.55

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.

Click here for historical distribution data and here for upcoming distribution estimates

Key Facts

Key Facts

Size of Fund (Millions)
as of Mar 31, 2026
$14.9 M
Share Class launch date
Aug 18, 2020
Benchmark Index
MSCI Emerging Markets Index (Net)
Lipper Classification
Emerging Markets Funds
Max Offer Price
as of Mar 31, 2026
$11.82
Turnover Percent in the Annual Report
as of Apr 30, 2025
158%
Size of Class (Millions)
as of Mar 31, 2026
$0.3 M
Asset Class
Equity
Morningstar Category
Diversified Emerging Mkts
CUSIP
09260J872
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Feb 27, 2026
0
P/E Ratio - Forward
as of Feb 27, 2026
13.42
Average Market Cap (Millions)
as of Feb 27, 2026
$ 420,521.7 M
Fund Standard Deviation (3y)
as of Feb 28, 2026
12.86
Best 3-Month Return Over the Last 3 Years
3 months ending Jul 31, 2025
13.94%
Active Share
as of Jan 30, 2026
50.00%
P/B Ratio
as of Feb 27, 2026
2.43
Alpha (3y)
as of Feb 28, 2026
0.00
R-Squared (3y)
as of Feb 28, 2026
96.11
Beta (3y)
as of Feb 28, 2026
0.96
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2023
-13.01%
For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Gross Expense Ratio 4.13%
Net Expense Ratio 1.11%

Net Expense Ratio excluding Investment Related Expenses is 1.11%

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

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective Feb 28, 2026)
Analyst-Driven % as of Feb 28, 2026
55.00
Data Coverage % as of Feb 28, 2026
98.00

Holdings

Holdings

as of Feb 27, 2026
Name Weight (%)
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 13.67
SAMSUNG ELECTRONICS CO LTD 7.32
TENCENT HOLDINGS LTD 4.17
SK HYNIX INC 4.07
ALIBABA GROUP HOLDING LTD 2.07
Name Weight (%)
CHINA CONSTRUCTION BANK CORP 1.52
DELTA ELECTRONICS INC 1.38
PING AN INSURANCE GROUP CO OF CHINA LTD 1.23
CONTEMPORARY AMPEREX TECHNOLOGY CO LTD 1.20
AL RAJHI BANKING & INVESTMENT CORPORATION SJSC 1.15
Name Market Value Weight (%) Shares
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 Feb 27, 2026

% of Market Value

Type Fund Benchmark Net
as of Feb 27, 2026

% of Market Value

Type Fund Benchmark Net
as of Feb 27, 2026

% of Market Value

Type Fund Benchmark Net
as of Feb 27, 2026

% 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

Jeff Shen, PhD
Co-Chief Investment Officer and Co-Head of BlackRock’s Systematic Equities

   

Anna Hawley, CFA
BlackRock Systematic Active Equity Investment Team
Richard Mathieson
Managing Director, Systematic Equities
David Piazza
BlackRock Systematic Active Equity Investment Team

  

Portfolio Manager

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund. Learn more

Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC)
as of Mar 20, 2026
AA
MSCI ESG Quality Score (0-10)
as of Mar 20, 2026
7.2
Fund Lipper Global Classification
as of Mar 20, 2026
Equity Emerging Markets Global
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of Mar 20, 2026
141.30
MSCI ESG % Coverage
as of Mar 20, 2026
92.15%
MSCI ESG Quality Score - Peer Percentile
as of Mar 20, 2026
95.55%
Funds in Peer Group
as of Mar 20, 2026
1,327
MSCI Weighted Average Carbon Intensity % Coverage
as of Jul 18, 2025
95.00%
All data is from MSCI ESG Fund Ratings as of Mar 20, 2026, based on holdings as of Sep 30, 2025. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

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.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons
as of Feb 27, 2026
0.00%
MSCI - Nuclear Weapons
as of Feb 27, 2026
0.00%
MSCI - Civilian Firearms
as of Feb 27, 2026
0.00%
MSCI - Tobacco
as of Feb 27, 2026
0.00%
MSCI - UN Global Compact Violators
as of Feb 27, 2026
0.62%
MSCI - Thermal Coal
as of Feb 27, 2026
0.00%
MSCI - Oil Sands
as of Feb 27, 2026
0.00%

Business Involvement Coverage
as of Feb 27, 2026
98.38%
Percentage of Fund not covered
as of Feb 27, 2026
1.62%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.36% and for Oil Sands 0.00%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

This fund seeks to follow a sustainable, impact or ESG investment strategy. For more information regarding the fund's investment strategy, please see the fund's prospectus or, as applicable, shareholder report.

Literature

Literature

 

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