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Name

As of 07/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BlackRock Dynamic High Income Portfolio

BDHAX | Fund

$8.57

$1.07 B

7.21%

$0.62

1.08%

Vitals

YTD Return

6.2%

1 yr return

10.9%

3 Yr Avg Return

0.1%

5 Yr Avg Return

3.3%

Net Assets

$1.07 B

Holdings in Top 10

28.2%

52 WEEK LOW AND HIGH

$8.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.08%

SALES FEES

Front Load 5.25%

Deferred Load N/A

TRADING FEES

Turnover 180.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 07/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BlackRock Dynamic High Income Portfolio

BDHAX | Fund

$8.57

$1.07 B

7.21%

$0.62

1.08%

BDHAX - Profile

Distributions

  • YTD Total Return 6.2%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 3.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.87%
DIVIDENDS
  • Dividend Yield 7.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BlackRock Dynamic High Income Portfolio
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Nov 03, 2014
  • Shares Outstanding
    16664346
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Justin Christofel

Fund Description

The Fund may invest up to 100% of its assets in equity securities and up to 100% of its assets in fixed-income securities. The Fund may also gain exposure to such equity securities and fixed-income securities by investing in BlackRock equity and/or fixed-income mutual funds (“underlying funds”) and affiliated and unaffiliated ETFs. The Fund may also invest up to 50% of its assets in structured notes that provide exposure to covered call options or other types of financial instruments.
With respect to the Fund’s equity investments, the Fund may invest in common stock, preferred stock, securities convertible into common and preferred stock and non-convertible preferred stock. From time to time, the Fund may invest in shares of companies through initial public offerings (“IPOs”). The Fund may invest in equity securities of both U.S. or non-U.S. issuers without limit, including in securities of issuers located in emerging markets. The Fund’s investments in non-dollar denominated equity securities may be on a currency hedged or unhedged basis. The Fund may invest in securities of companies of any market capitalization.
With respect to the Fund’s fixed-income investments, the Fund may invest in a portfolio of fixed-income securities, such as corporate bonds and notes, mortgage-backed securities (including commercial mortgage-backed securities and collateralized mortgage obligations), asset-backed securities (including collateralized debt obligations (“CDOs”) and collateralized loan obligations (“CLOs”)), convertible securities, preferred securities and government obligations. Convertible debt securities have features of both fixed-income and equity securities and often are issued by companies that have lower credit ratings but higher potential for long-term growth. The Fund may invest in fixed-income securities of both U.S. or non-U.S. issuers without limit, including in securities of issuers located in emerging markets. The Fund may also invest significantly in non-investment grade bonds (high yield, junk bonds or distressed securities), including non-investment grade bonds of issuers located in emerging markets, non-investment grade bank loans and non-dollar denominated bonds. The Fund’s investments in non-dollar denominated bonds may be on a currency hedged or unhedged basis. Non-investment grade bonds or bank loans acquired by the Fund will generally be in the lower categories of the major rating agencies at the time of purchase (BB or lower by S&P Global Ratings, a division of S&P Global Inc., or Ba or lower by Moody’s Investors Services, Inc.) or will be determined by the management team to be of similar quality. The average portfolio duration of the Fund will vary based on the management team’s forecast of interest rates and there are no limits regarding portfolio duration or average maturity.
The Fund intends to invest in certain income-producing instruments, including master limited partnerships (“MLPs”) (which are generally in energy-related industries), U.S. and non-U.S. real estate investment trusts (“REITs”), preferred stock, structured products, structured notes that provide exposure to covered call options or other types of financial instruments, floating rate securities (such as bank loans), dividend stocks and fixed-income securities. The Fund may also invest in closed-end investment companies.
The Fund may invest significantly in derivatives, including, but not limited to, interest rate swaps, total return swaps, credit default swaps, variance swaps, options (including covered call options), futures, options on futures and swaps and foreign currency transactions (including swaps), for hedging purposes, as well as to increase the return on its portfolio investments. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls). The underlying funds and ETFs in which the Fund invests may, to varying degrees, also invest in derivatives.
The Fund may invest in indexed and inverse floating rate securities.
The Fund may also incur leverage (within the limits of applicable law) for investment purposes. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
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BDHAX - Performance

Return Ranking - Trailing

Period BDHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.2% 0.8% 38.3% 58.31%
1 Yr 10.9% -2.9% 57.2% 43.27%
3 Yr 0.1%* -6.1% 13.7% 87.76%
5 Yr 3.3%* -3.7% 15.5% 95.20%
10 Yr N/A* 0.5% 10.6% N/A

* Annualized

Return Ranking - Calendar

Period BDHAX Return Category Return Low Category Return High Rank in Category (%)
2023 6.9% -12.2% 23.9% 78.13%
2022 -21.9% -34.7% 2.8% 82.60%
2021 3.4% -11.9% 18.1% 62.03%
2020 -1.2% -20.9% 39.7% 94.62%
2019 13.1% 0.8% 25.7% 60.91%

Total Return Ranking - Trailing

Period BDHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.2% 0.8% 38.3% 58.31%
1 Yr 10.9% -2.9% 57.2% 43.27%
3 Yr 0.1%* -6.1% 13.7% 87.76%
5 Yr 3.3%* -3.7% 15.5% 95.20%
10 Yr N/A* 0.5% 10.6% N/A

* Annualized

Total Return Ranking - Calendar

Period BDHAX Return Category Return Low Category Return High Rank in Category (%)
2023 13.4% -12.2% 26.8% 51.51%
2022 -17.5% -29.0% 10.9% 90.20%
2021 10.6% -3.0% 27.3% 77.00%
2020 4.6% -19.5% 40.6% 90.98%
2019 19.2% 2.2% 32.7% 57.33%

NAV & Total Return History

BDHAX - Holdings

Concentration Analysis

BDHAX Category Low Category High BDHAX % Rank
Net Assets 1.07 B 789 K 217 B 50.00%
Number of Holdings 2024 2 15947 5.32%
Net Assets in Top 10 303 M 596 K 67.8 B 58.85%
Weighting of Top 10 28.22% 11.3% 121.0% 76.98%

Top 10 Holdings

  1. BlackRock Liquidity Funds, T-Fund, Institutional Class 14.45%
  2. iShares Core Dividend Growth ETF 6.84%
  3. Societe Generale SA 1.65%
  4. BlackRock Floating Rate Income Portfolio, Class K Shares 1.55%
  5. Mizuho Markets Cayman LP 0.82%
  6. Royal Bank of Canada 0.64%
  7. Microsoft Corp. 0.61%
  8. Barclays Bank plc 0.60%
  9. U.S. Treasury Inflation Linked Notes 0.54%
  10. U.S. Treasury Inflation Linked Bonds 0.53%

Asset Allocation

Weighting Return Low Return High BDHAX % Rank
Bonds 		64.80% 0.00% 77.51% 3.02%
Stocks 		22.14% 0.00% 100.06% 92.37%
Cash 		14.45% -7.92% 100.00% 3.17%
Convertible Bonds 		1.78% 0.00% 23.84% 11.88%
Other 		0.08% -43.77% 112.46% 35.25%
Preferred Stocks 		0.03% 0.00% 23.15% 24.60%

Stock Sector Breakdown

Weighting Return Low Return High BDHAX % Rank
Real Estate 		18.72% 0.00% 65.01% 3.05%
Technology 		14.59% 0.00% 44.21% 82.56%
Healthcare 		13.81% 0.00% 29.35% 54.22%
Financial Services 		11.86% 0.00% 38.77% 87.35%
Industrials 		10.07% 0.00% 24.37% 51.02%
Consumer Cyclical 		8.27% 0.00% 19.36% 70.49%
Communication Services 		6.87% 0.00% 38.10% 58.14%
Utilities 		5.83% 0.00% 99.55% 12.21%
Consumer Defense 		4.67% 0.00% 15.14% 84.16%
Energy 		3.53% 0.00% 85.65% 77.03%
Basic Materials 		1.78% 0.00% 33.35% 86.92%

Stock Geographic Breakdown

Weighting Return Low Return High BDHAX % Rank
US 		15.25% 0.00% 100.06% 92.81%
Non US 		6.89% 0.00% 39.69% 8.63%

Bond Sector Breakdown

Weighting Return Low Return High BDHAX % Rank
Corporate 		68.51% 0.00% 98.21% 10.29%
Securitized 		17.27% 0.00% 92.13% 50.00%
Cash & Equivalents 		14.45% 0.00% 99.92% 3.17%
Government 		4.04% 0.00% 97.26% 91.16%
Municipal 		0.00% 0.00% 24.80% 97.10%
Derivative 		-0.05% -2.92% 43.22% 86.91%

Bond Geographic Breakdown

Weighting Return Low Return High BDHAX % Rank
US 		59.57% 0.00% 77.51% 3.88%
Non US 		5.24% 0.00% 11.88% 1.58%

BDHAX - Expenses

Operational Fees

BDHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.08% 0.03% 17.63% 44.21%
Management Fee 0.59% 0.00% 1.83% 70.71%
12b-1 Fee 0.25% 0.00% 1.00% 52.66%
Administrative Fee 0.06% 0.01% 0.83% 40.11%

Sales Fees

BDHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.25% 2.25% 5.75% 63.72%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BDHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BDHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 180.00% 0.00% 343.00% 95.70%

BDHAX - Distributions

Dividend Yield Analysis

BDHAX Category Low Category High BDHAX % Rank
Dividend Yield 7.21% 0.00% 17.90% 3.14%

Dividend Distribution Analysis

BDHAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly SemiAnnual

Net Income Ratio Analysis

BDHAX Category Low Category High BDHAX % Rank
Net Income Ratio 4.87% -2.34% 19.41% 1.61%

Capital Gain Distribution Analysis

BDHAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Semi-Monthly

Distributions History

View More +

BDHAX - Fund Manager Analysis

Managers

Justin Christofel

Start Date

Tenure

Tenure Rank

Nov 03, 2014

7.58

7.6%

Justin Christofel, CFA, CAIA, Managing Director and portfolio manager, is a member of the BlackRock Multi-Asset Strategies group. Prior to the launch of the Income strategies, Mr. Christofel managed customized asset allocation portfolios for institutional investors. He also managed volatility control strategies, and a multi-asset real return portfolio. Mr. Christofel joined Blackrock in 2007 from Oliver Wyman, a consulting firm specializing in financial services. His projects spanned from retail banking to structured finance. Mr. Christofel graduated from Yale University with a BA degree, with honors, in economics and mathematics.

Michael Fredericks

Start Date

Tenure

Tenure Rank

Nov 03, 2014

7.58

7.6%

Michael Fredericks, Managing Director, is head of Income Investing for the Blackrock Multi-Asset Strategies group and lead portfolio manager for the Multi-Asset Income, Global Multi-Asset Income, Dynamic High Income, and Managed Income funds. Mr. Fredericks joined BlackRock in 2011 from JPMorgan Asset Management where he was an Executive Director and portfolio manager in the Global Multi-Asset Group (GMAG) responsible for retail asset allocation solutions. At JPMorgan he co-managed the JPMorgan Diversified Fund and the JPMorgan Income Builder Fund, and served on the GMAG New York investment committee. Previously he was an equity analyst responsible for global consumer discretionary stocks at Nicholas Applegate Capital Management. Mr. Fredericks holds a B.A. in Economics and History from the University of California, Berkeley and an M.P.I.A. from the Graduate School of International Relations and Pacific Studies at the University of California, San Diego. He regularly contributes to financial news media and has been featured in print and broadcast outlets including the Wall Street Journal, Financial Times, Associated Press, CNBC and Bloomberg TV, among others.

Alex Shingler

Start Date

Tenure

Tenure Rank

Mar 09, 2015

7.23

7.2%

Alex Shingler, CFA, Managing Director and portfolio manager, is a member of BlackRock's Multi-Asset Strategies group. Prior to his current role, Mr. Shingler served as a research analyst and portfolio manager within European and US Credit Strategies. Before joining BlackRock in 2009 in London, Mr. Shingler was Head of European Research at R3 Capital Partners and its predecessor. From 1999 to 2007, Mr. Shingler was with Seneca Capital Advisors, focusing on special situation equity and debt investments. He began his career as ananalyst with J.P. Morgan. Mr. Shingler earned an AB degree, summa cum laude, in philosophy from Princeton University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 34.51 6.36 2.41

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