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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 Defensive Advantage Emerging Markets Fund

BKDEX | Fund

$9.89

$10.2 M

0.83%

$0.08

3.66%

Vitals

YTD Return

5.4%

1 yr return

6.2%

3 Yr Avg Return

2.1%

5 Yr Avg Return

N/A

Net Assets

$10.2 M

Holdings in Top 10

16.3%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 3.66%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 64.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000,000

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 Defensive Advantage Emerging Markets Fund

BKDEX | Fund

$9.89

$10.2 M

0.83%

$0.08

3.66%

BKDEX - Profile

Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 2.1%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.52%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    BlackRock Defensive Advantage Emerging Markets Fund
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Dec 21, 2020
  • Shares Outstanding
    N/A
  • Share Class
    K
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Piazza

Fund Description

The Fund pursues a “defensive” investment style, seeking to provide downside protection with upside potential through active stock selection, risk management and diversification. The Fund seeks to pursue its investment objective by investing in securities in a disciplined manner, by using proprietary return forecast models that incorporate quantitative analysis. These forecast models are designed to prioritize insights that demonstrate downside protection as well as identify aspects of mispricing across stocks which the Funds can seek to capture by over- and under-weighting particular equity securities while seeking to control incremental risk.
Under normal circumstances, the Fund seeks to invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities issued by, or tied economically to, companies in emerging markets and derivatives that have similar economic characteristics to such securities. BlackRock considers an emerging market country to include any country that is: (1) generally recognized to be an emerging market country by the international financial community, including the World Bank; (2) classified by the United Nations as a developing country; or (3) included in the MSCI Emerging Markets Index (the “MSCI EM Index”). BlackRock determines that an investment is tied economically to an emerging market if such investment satisfies one or more of the following conditions: (1) the issuer’s primary trading market is in an emerging market; (2) the issuer is organized under the laws of, derives at least 50% of its revenue from, or has at least 50% of its assets in emerging markets; or (3) the investment is included in an index representative of emerging markets.
The Fund primarily intends to invest in equity securities, which include common stock, preferred stock, depositary receipts and convertible securities, or other financial instruments that are components of, or have characteristics similar to, the securities included in the MSCI EM Index. The MSCI EM Index is a capitalization-weighted index from a broad range of industries chosen for market size, liquidity and industry group representation. As of July 31, 2023, the issuers in the MSCI EM Index have a market capitalization ranging from $119.4 million to $442.9 billion. The Fund primarily seeks to buy common stock and may also invest in preferred stock and convertible securities. From time to time, the Fund may invest in shares of companies through “new issues” or initial public offerings (“IPOs”).
The Fund may use derivatives, including options, futures, swaps (including, but not limited to, total return swaps, some of which may be referred to as contracts for difference) and forward contracts both to seek to increase the return of the Fund and to hedge (or protect) the value of its assets against adverse movements in currency exchange rates, interest rates and movements in the securities markets. In order to manage cash flows into or out of the Fund effectively, the Fund may buy and sell financial futures contracts or options on such contracts. Derivatives are financial instruments whose value is derived from another security, a currency or an index, including but not limited to the MSCI EM Index. The use of options, futures, swaps (including, but not limited to, total return swaps, some of which may be referred to as contracts for difference) and forward contracts can be effective in protecting or enhancing the value of the Fund’s assets.
Read More

BKDEX - Performance

Return Ranking - Trailing

Period BKDEX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -8.8% 19.4% 51.53%
1 Yr 6.2% -12.3% 23.7% 47.77%
3 Yr 2.1%* -19.2% 10.9% 9.29%
5 Yr N/A* -6.8% 11.5% N/A
10 Yr N/A* -2.9% 6.1% N/A

* Annualized

Return Ranking - Calendar

Period BKDEX Return Category Return Low Category Return High Rank in Category (%)
2023 9.5% -6.5% 35.5% 39.92%
2022 -13.4% -50.1% -2.4% 3.01%
2021 N/A -33.1% 22.5% N/A
2020 N/A -22.1% 80.1% N/A
2019 N/A -0.7% 42.0% N/A

Total Return Ranking - Trailing

Period BKDEX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -8.8% 19.4% 51.53%
1 Yr 6.2% -12.3% 23.7% 47.77%
3 Yr 2.1%* -19.2% 10.9% 9.29%
5 Yr N/A* -6.8% 11.5% N/A
10 Yr N/A* -2.9% 6.1% N/A

* Annualized

Total Return Ranking - Calendar

Period BKDEX Return Category Return Low Category Return High Rank in Category (%)
2023 12.0% -2.7% 42.0% 40.89%
2022 -11.1% -42.2% 1.9% 2.87%
2021 N/A -32.5% 33.1% N/A
2020 N/A -20.0% 81.6% N/A
2019 N/A 2.3% 42.0% N/A

NAV & Total Return History

BKDEX - Holdings

Concentration Analysis

BKDEX Category Low Category High BKDEX % Rank
Net Assets 10.2 M 682 K 103 B 95.00%
Number of Holdings 107 10 7137 46.39%
Net Assets in Top 10 1.67 M 290 K 21.1 B 96.67%
Weighting of Top 10 16.30% 2.9% 140.4% 94.99%

Top 10 Holdings

  1. BlackRock Liquidity Funds: T-Fund, Institutional Shares 2.72%
  2. Haier Smart Home Co Ltd 1.61%
  3. ICICI Bank Ltd 1.55%
  4. Meihua Holdings Group Co Ltd 1.53%
  5. Hon Hai Precision Industry Co Ltd 1.49%
  6. Bangkok Dusit Medical Services PCL 1.49%
  7. BOE Technology Group Co Ltd 1.48%
  8. Nahdi Medical Co 1.48%
  9. Industrial Commercial Bank of China Ltd 1.48%
  10. Lupin Ltd 1.48%

Asset Allocation

Weighting Return Low Return High BKDEX % Rank
Stocks 		97.38% 0.00% 102.46% 46.81%
Cash 		2.94% -2.03% 40.36% 31.11%
Preferred Stocks 		0.00% 0.00% 14.66% 98.06%
Convertible Bonds 		0.00% 0.00% 7.40% 96.92%
Bonds 		0.00% 0.00% 92.29% 97.64%
Other 		-0.02% -0.45% 37.51% 98.75%

Stock Sector Breakdown

Weighting Return Low Return High BKDEX % Rank
Financial Services 		21.74% 0.00% 48.86% 51.90%
Communication Services 		15.29% 0.00% 39.29% 3.66%
Technology 		12.91% 0.00% 47.50% 92.26%
Healthcare 		12.44% 0.00% 16.53% 9.14%
Consumer Defense 		12.02% 0.00% 25.90% 7.88%
Consumer Cyclical 		6.35% 0.00% 48.94% 94.94%
Basic Materials 		5.98% 0.00% 30.03% 68.21%
Energy 		5.27% 0.00% 24.80% 31.79%
Utilities 		4.22% 0.00% 39.12% 9.42%
Industrials 		3.79% 0.00% 43.53% 81.58%
Real Estate 		0.00% 0.00% 17.15% 99.72%

Stock Geographic Breakdown

Weighting Return Low Return High BKDEX % Rank
Non US 		92.95% 0.00% 101.28% 20.28%
US 		4.42% 0.00% 99.51% 77.22%

BKDEX - Expenses

Operational Fees

BKDEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.66% 0.03% 29.98% 6.13%
Management Fee 0.80% 0.00% 2.00% 38.80%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.85% N/A

Sales Fees

BKDEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BKDEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

BKDEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 64.00% 0.00% 189.00% 68.65%

BKDEX - Distributions

Dividend Yield Analysis

BKDEX Category Low Category High BKDEX % Rank
Dividend Yield 0.83% 0.00% 9.74% 39.58%

Dividend Distribution Analysis

BKDEX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annual

Net Income Ratio Analysis

BKDEX Category Low Category High BKDEX % Rank
Net Income Ratio 0.52% -1.98% 17.62% 57.49%

Capital Gain Distribution Analysis

BKDEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

BKDEX - Fund Manager Analysis

Managers

David Piazza

Start Date

Tenure

Tenure Rank

Dec 21, 2020

1.44

1.4%

Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.

Jeff Shen

Start Date

Tenure

Tenure Rank

Dec 21, 2020

1.44

1.4%

Jeff Shen, PhD, Managing Director, is Co-CIO of Active Equity and Co-Head of Systematic Active Equity (SAE) at BlackRock. He is responsible for Asia Pacific and Emerging Market Active Equity Strategies. He is BlackRock's Head of Emerging Market and a member of the Global Operating Committee. Dr. Shen's service with BlackRock dates back to 2004, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. At BGI, he was the Head of Investment for Asia Pacific and Emerging Market active equities. Prior to joining BGI, he began his career in 1997 with JP Morgan where he held numerous positions in global macro investment and asset allocation research in both New York and London. Dr. Shen earned a BA degree in Economics from Hobart College, a MA degree in Economics from University of Massachusetts at Amherst, and a PhD degree in Finance from New York University. Dr. Shen is an adjunct professor at NYU teaching a MBA class on international investment. He also serves on the advisory board of Clausen Center at UC Berkeley.

Robert Fisher

Start Date

Tenure

Tenure Rank

Dec 21, 2020

1.44

1.4%

Robert Fisher, CFA, Director and senior portfolio manager, is a member of the European Equities team in the Scientific Active Equity division of BlackRock's Portfolio Management Group. He is responsible for managing Market Neutral strategies. Mr. Fisher's service with the firm dates back to 2001, including his years with Barclay's Global Investors (BGI), which merged with BlackRock in 2009. At BGI, he served as a senior portfolio manager within the European Scientific Equity team. Prior to joining BGI, he worked at the Bank of New York, Europe. Mr. Fisher earned a masters in aeronautical & astronautical engineering from Southampton University in 1999.

Richard Mathieson

Start Date

Tenure

Tenure Rank

Dec 21, 2020

1.44

1.4%

Richard Mathieson, CA, Managing Director of BlackRock, Inc. since 2011; Director of BlackRock, Inc. from 2009 to 2011; Principal at Barclays Global Investors from 2008 to 2009; Equity Analyst for Exista UK from 2007 to 2008; Principal at Barclays Global Investors from 2005 to 2007; Associate of Barclays Global Investors from 2001 to 2005. Mr. Mathieson is a member of the Systematic Active Equity division within BlackRock's Active Equities Group. He is a Portfolio Manager responsible for global equity strategies. Prior to this he led the Investment Strategy team in EMEA for Scientific Active Equity. Mr. Mathieson's service with the firm dates back to 2002, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Prior to rejoining BGI in 2008, Mr. Mathieson was an equity analyst for a specialist investment company focused on European financial stocks. Previously he was with BGI as a senior portfolio manager, where he was responsible for managing both long only and market neutral strategies. Prior to joining the BlackRock, Inc. in 1999, Robert was a mortgage banking specialist at Ohio Savings Bank. Mr. Mathieson qualified as a Chartered Accountant with PricewaterhouseCoopers in 2000, and holds a Bachelor of Accountancy from the University of Glasgow

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.64 13.42

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