Equity

MKDVX

Equity Dividend Fund

  • NAV as of Nov 22, 2024 $21.14
    52 WK: 18.41 - 21.26
  • 1 Day NAV Change as of Nov 22, 2024 0.14 (0.67%)
  • NAV Total Return as of Nov 22, 2024 YTD: 16.37%

Overview

About this Fund

1. U.S. large cap value portfolio of high quality companies
2. Invests in companies with a greater potential for dividend growth
3. Seeks lower volatility equity returns

Investment Approach

Seeks to invest in high-quality, dividend-paying companies, primarily domiciled in the U.S. The team pays especially close attention to the potential for dividend growth to drive returns.
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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 25.28 8.95 10.91 10.04
Benchmark (%) 27.76 9.03 10.69 9.23
Morningstar Category Avg. (%) 29.71 7.45 10.72 9.00
Morningstar Ranking 815/1164 709/1081 576/1020 -
Morningstar Quartile 3 3 3 2
Lipper Ranking 319/467 252/433 198/411 -
Lipper Quartile 3 3 2 -
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 13.97 -0.10 6.42 25.28 29.31 67.83 160.35
Benchmark (%) 16.68 1.39 9.43 27.76 29.59 66.18 141.83
Morningstar Category Avg. (%) 14.80 -0.95 2.49 29.71 31.57 70.33 143.29
  2019 2020 2021 2022 2023
Total Return (%) 27.67 4.01 20.50 -3.83 12.77
Benchmark (%) 26.54 2.80 25.16 -7.54 11.46
Morningstar Category Avg. (%) 25.04 2.91 26.22 -5.90 11.63

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.

The performance information for periods prior to March 28, 2016, the commencement of operations 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. See the Fund’s prospectus for more details.
Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Nov 22, 2024
$19,669.4 M
Share Class launch date
Mar 28, 2016
Benchmark Index
Russell 1000 Value Index
Morningstar Category
Large Value
CUSIP
09251M801
Open to New Investors
Yes
Size of Class (Millions)
as of Nov 22, 2024
$3,430.0 M
Asset Class
Equity
Distribution Frequency
None
Lipper Classification
Equity Income Funds
Max Offer Price
as of Nov 22, 2024
$21.14
Turnover Percent in the Annual Report
as of Apr 30, 2024
41.00%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Oct 31, 2024
85
P/E Ratio - Forward
as of Oct 31, 2024
13.40
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of Oct 31, 2024
15.37
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
13.00%
Active Share
as of Oct 31, 2024
85.02%
P/B Ratio
as of Oct 31, 2024
1.81
Alpha (3y)
as of Oct 31, 2024
0.05
R-Squared (3y)
as of Oct 31, 2024
94.19
Beta (3y)
as of Oct 31, 2024
0.90
Worst 3-Month Return Over the Last 3 Years
3 months ending Jun 30, 2022
-10.19%

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

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


This fund does not seek to follow a sustainable, impact or ESG investment strategy. The metrics do not change the fund’s investment objective or constrain the fund’s investable universe, and there is no indication that a sustainable, impact or ESG investment strategy will be adopted by the fund. For more information regarding the fund's investment strategy, please see the fund's prospectus.


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

MSCI ESG Fund Rating (AAA-CCC)
as of Sep 21, 2024
A
MSCI ESG Quality Score (0-10)
as of Sep 21, 2024
6.5
Fund Lipper Global Classification
as of Sep 21, 2024
Equity US Income
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of Sep 21, 2024
79.85
MSCI ESG % Coverage
as of Sep 21, 2024
98.85%
MSCI ESG Quality Score - Peer Percentile
as of Sep 21, 2024
25.81%
Funds in Peer Group
as of Sep 21, 2024
399
MSCI Weighted Average Carbon Intensity % Coverage
as of Sep 21, 2024
94.47%
All data is from MSCI ESG Fund Ratings as of Sep 21, 2024, based on holdings as of Mar 31, 2024. 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 Oct 31, 2024
2.88%
MSCI - Nuclear Weapons
as of Oct 31, 2024
0.99%
MSCI - Civilian Firearms
as of Oct 31, 2024
0.00%
MSCI - Tobacco
as of Oct 31, 2024
1.21%
MSCI - UN Global Compact Violators
as of Oct 31, 2024
0.00%
MSCI - Thermal Coal
as of Oct 31, 2024
0.00%
MSCI - Oil Sands
as of Oct 31, 2024
0.56%
Business Involvement Coverage
as of Oct 31, 2024
95.68%
Percentage of Fund not covered
as of Oct 31, 2024
4.32%
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 0.00% and for Oil Sands 2.79%.

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.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.59%
Net Expense Ratio 0.59%

Net Expense Ratio excluding Investment Related Expenses is 0.58%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. (Effective Feb 02, 2024)
Analyst-Driven % as of Feb 02, 2024
100.00
Data Coverage % as of Feb 02, 2024
100.00

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 Oct 31, 2024 out of 429, 12,312, 429, 257 and 429 Funds, respectively in Lipper's Equity Income Funds classification.

Holdings

Holdings

as of Oct 31, 2024
Name Weight (%)
WELLS FARGO & COMPANY 3.70
CITIGROUP INC 3.01
FIRST CITIZENS BANCSHARES INC 2.55
SS&C TECHNOLOGIES HOLDINGS INC 2.45
L3HARRIS TECHNOLOGIES INC 2.42
Name Weight (%)
CVS HEALTH CORP 2.40
CARDINAL HEALTH INC 2.40
MICROSOFT CORPORATION 2.24
COMCAST CORPORATION 2.09
MEDTRONIC PLC 2.09
Name Market Value Weight (%) Shares
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.

Exposure Breakdowns

Exposure Breakdowns

as of Oct 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Oct 31, 2024

% 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

Tony DeSpirito
Tony DeSpirito
Global CIO of Fundamental Equities, Portfolio Manager, Managing Director

   

Read More

Antonio (Tony) DeSpirito, Managing Director, is Global Chief Investment Officer of Fundamental Equities. He is also lead portfolio manager of the BlackRock Equity Dividend and value portfolios.

 

Mr. DeSpirito joined BlackRock in 2014. He was previously a Managing Principal, portfolio manager, and member of the Executive Committee at Pzena Investment Management, where he was responsible for a suite of long-only value products and two hedge fund portfolios. Mr. DeSpirito has managed value equity assets since 1996, serving as a portfolio manager for the John Hancock Classic Value, PACE Large Company Value, and Vanguard Windsor funds.

 

Mr. DeSpirito is a visiting lecturer at the Johnson School at Cornell University. He is also a member of the board of directors of the Adirondack North Country Association.

 

Mr. DeSpirito earned a BS degree in economics with a concentration in finance, summa cum laude, from the Wharton School of the University of Pennsylvania and a JD degree, magna cum laude, from Harvard Law School.

David Zhao
David Zhao
Portfolio Manager, Managing Director

  

Read More

David Zhao, Managing Director, is Co-Director of Research for the US Income & Value team within the Fundamental Active Equity business of BlackRock's Active Equities Group. Mr. Zhao is a Portfolio Manager for the BlackRock Equity Dividend portfolios.

 

He also has partial research coverage for the information technology and telecoms sectors. Prior to joining BlackRock, David was a Global Equity Senior Research Analyst and Principal at Pzena Investment Management covering technology, US banks/brokers, medical technology, non-life insurance, financial technology and select industrials. David began his career as an Analyst at Lehman Brothers covering technology M&A; and later within the Institutional Equities Corporate Strategy Group.

 

David holds a BA of Arts with degrees in Economics and Computer Information Systems and graduated Cum Laude from Northwestern University.

Portfolio Manager
Read the Team's Commentary

Literature

Literature

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