Commodity Strategies Fund | BICSX

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NAV as of Apr 25, 2025 $8.93
52 WK: 8.16 - 9.12
1 Day NAV Change as of Apr 25, 2025 -0.03 (-0.33%)
NAV Total Return as of Apr 25, 2025 YTD: 7.46%
Morningstar Rating

4 stars
NEUTRAL

Fees as stated in the prospectus Expense Ratio: 0.87%
Net Expense Ratio: 0.72%

Overview

Investment Approach

Invests in two strategies, approximately equally. One strategy focuses on commodity-linked derivatives, the other focuses on equity investments in commodity-related companies, including mining, energy and agricultural companies.

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Performance

Returns

	1y	3y	5y	10y
Total Return (%)	10.87	0.58	15.81	4.92
Benchmark (%)	12.28	-0.77	14.51	2.77
Morningstar Category Avg. (%)	8.97	0.12	16.28	3.63
Morningstar Ranking	52/105	29/96	50/90	10/63
Morningstar Quartile	2	2	3	1
Lipper Category Avg. (%)	8.31	-0.49	16.09	3.52
Lipper Ranking	49/105	28/97	50/92	11/66
Lipper Quartile	2	2	3	1

Performance data is not currently available

	YTD	1m	3m	1y	3y	5y	10y
Total Return (%)	9.03	3.42	9.03	10.87	1.75	108.35	61.69
Benchmark (%)	8.88	3.93	8.88	12.28	-2.30	96.92	31.46
Morningstar Category Avg. (%)	7.25	3.61	7.25	8.97	0.36	112.54	42.87
Lipper Category Avg. (%)	7.32	3.51	7.32	8.31	-1.29	113.37	43.66

Performance data is not currently available

	2020	2021	2022	2023	2024
Total Return (%)	6.80	22.44	12.07	-4.33	4.41
Benchmark (%)	-3.12	27.11	16.09	-7.91	5.38
Morningstar Category Avg. (%)	-3.09	29.74	15.74	-5.56	5.84

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.

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Key Facts

Size of Fund (Millions)

as of Apr 25, 2025

$608.7 M

Share Class launch date

Oct 03, 2011

Benchmark Index

Bloomberg Commodity Index Total Return

Morningstar Category

Commodities Broad Basket

CUSIP

091936666

Open to New Investors

Yes

Size of Class (Millions)

as of Apr 25, 2025

$404.6 M

Asset Class

Commodity

Distribution Frequency

Annual

Lipper Classification

Commodities General

Max Offer Price

as of Apr 25, 2025

$8.93

Turnover Percent in the Annual Report

as of May 31, 2024

53.00%

Portfolio Characteristics

P/E Ratio

as of Mar 31, 2025

20.37

Alpha (3y)

as of Mar 31, 2025

0.13

R-Squared (3y)

as of Mar 31, 2025

70.24

Beta (3y)

as of Mar 31, 2025

0.93

Best 3-Month Return Over the Last 3 Years

3 months ending May 31, 2024

12.29%

P/B Ratio

as of Mar 31, 2025

2.33

Average Market Cap (Millions)

as of -

-

Fund Standard Deviation (3y)

as of Mar 31, 2025

13.96

Effective Duration

as of Mar 31, 2025

0.11 yrs

Worst 3-Month Return Over the Last 3 Years

3 months ending Aug 31, 2022

-10.30%

This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

as of current prospectus

Gross Expense Ratio	0.87%
Net Expense Ratio	0.72%

Net Expense Ratio excluding Investment Related Expenses is 0.72%

Acquired Fund Fees and Expenses 0.00%
Interest expense 0.00%

Ratings

Morningstar Rating

Overall

4 stars

Overall Morningstar Rating for Commodity Strategies Fund, as of Mar 31, 2025 rated against 96 Commodities Broad Basket Funds based on risk adjusted total return.

Lipper Leader

Lipper Leader Ratings

Expense

Preservation

Tax Efficiency

Total Return

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 Mar 31, 2025 out of 97, 12,247, 97, 128 and 97 Funds, respectively in Lipper's Commodities General classification.

Holdings

as of Mar 31, 2025

Name	Weight (%)
UNITED STATES TREASURY	48.27
EXXON MOBIL CORP	2.72
CASH & EQUIVALENTS	2.11
AGNICO EAGLE MINES LTD (ONTARIO)	1.58
BLACKROCK LIQUIDITY FUNDS	1.54

Name	Weight (%)
CHEVRON CORP	1.49
SHELL PLC	1.38
WHEATON PRECIOUS METALS CORP	1.23
Bloomberg Roll Select Precious Met	1.14
KINROSS GOLD CORP	1.14

Custom Columns

Name
Market Value
Weight (%)
Shares

Name	Market Value	Weight (%)	Shares
TREASURY BILL	$302,933,454.97	48.27	306,000,000.00
EXXON MOBIL CORP	$17,060,627.43	2.72	143,451.00
USD CASH	$10,451,238.37	1.67	10,451,238.00
AGNICO EAGLE MINES LTD	$9,926,134.59	1.58	91,631.00
BLACKROCK LIQ FUND T-FD-IN	$9,679,666.00	1.54	9,679,666.00
CHEVRON CORP	$9,360,879.24	1.49	55,956.00
SHELL PLC	$8,648,676.18	1.38	237,186.00
WHEATON PRECIOUS METALS CORP	$7,739,815.31	1.23	99,754.00
KINROSS GOLD CORP	$7,123,663.41	1.14	565,512.00
NEWMONT	$6,446,152.48	1.03	133,516.00

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Detailed Holdings and Analytics

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.