Multi Asset

LERKX

LifePath ESG Index Retirement Fund

  • NAV as of Nov 15, 2024 $10.42
    52 WK: 9.41 - 10.84
  • 1 Day NAV Change as of Nov 15, 2024 -0.04 (-0.38%)
  • NAV Total Return as of Nov 15, 2024 YTD: 7.20%

Overview

About this Fund

1. Invests in index building blocks that have been optimized to increase exposure to ESG factors
2. Provides transparency and diversification through broad based market indexes
3. Built using 25+ years of target date fund experience

Investment Approach

Fund invests in broadly diversified global index funds across asset classes and becomes more conservative over time as investors approach retirement. The Fund invests the majority of assets in index holdings that seek to optimize exposure to higher ESG ratings while exhibiting risk and return characteristics similar to those of the parent index.
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Performance

Performance

  1y 3y 5y 10y Incept.
Total Return (%) 18.98 2.28 - - 4.18
Benchmark (%) 19.12 2.25 - - 4.25
Morningstar Category Avg. (%) 16.22 0.93 - - -
Morningstar Ranking 16/151 58/142 - - -
Morningstar Quartile 1 2 - - -
Lipper Ranking 15/141 62/132 - - -
Lipper Quartile 1 2 - - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
Total Return (%) 9.62 1.79 6.07 18.98 7.00 - - 18.40
Benchmark (%) 9.69 1.79 6.10 19.12 6.92 - - 18.71
Morningstar Category Avg. (%) 6.42 -1.99 1.04 16.22 6.49 - - -
  2019 2020 2021 2022 2023
Total Return (%) - - 7.64 -15.36 11.87
Benchmark (%) - - 7.48 -14.98 11.51
Morningstar Category Avg. (%) - - 5.51 -12.74 10.04

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

Key Facts

Size of Fund (Millions)
as of Nov 15, 2024
$7.6 M
Share Class launch date
Aug 18, 2020
Benchmark Index
BlackRock LifePath ESG Index Retirement Fund Custom Benchmark (USD)
Morningstar Category
Target-Date Retirement
CUSIP
09260W808
Open to New Investors
Yes
Size of Class (Millions)
as of Nov 15, 2024
$6.4 M
Asset Class
Multi Asset
Distribution Frequency
Annual
Lipper Classification
Mixed-Asset Target Today Funds
Max Offer Price
as of Nov 15, 2024
$10.42
Turnover Percent in the Annual Report
as of Oct 31, 2023
12.00%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y)
as of Oct 31, 2024
99.72
Fund Standard Deviation (3y)
as of Oct 31, 2024
11.07
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
10.73%
Fund Sharpe Ratio (3y)
as of Oct 31, 2024
-0.21
Effective Duration
as of Oct 31, 2024
3.63 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Jun 30, 2022
-9.36%
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 seeks to follow a sustainable, impact or ESG investment strategy, as disclosed in its prospectus. 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
7.0
Fund Lipper Global Classification
as of Sep 21, 2024
Mixed Asset USD Bal - Global
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of Sep 21, 2024
89.07
MSCI ESG % Coverage
as of Sep 21, 2024
83.93%
MSCI ESG Quality Score - Peer Percentile
as of Sep 21, 2024
89.72%
Funds in Peer Group
as of Sep 21, 2024
253
MSCI Weighted Average Carbon Intensity % Coverage
as of Sep 21, 2024
53.75%
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
0.00%
MSCI - Nuclear Weapons
as of Oct 31, 2024
0.03%
MSCI - Civilian Firearms
as of Oct 31, 2024
0.00%
MSCI - Tobacco
as of Oct 31, 2024
0.00%
MSCI - UN Global Compact Violators
as of Oct 31, 2024
0.01%
MSCI - Thermal Coal
as of Oct 31, 2024
0.01%
MSCI - Oil Sands
as of Oct 31, 2024
0.06%
Business Involvement Coverage
as of Oct 31, 2024
54.57%
Percentage of Fund not covered
as of Oct 31, 2024
45.43%
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 0.13% and for Oil Sands 0.71%.

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.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.24%
Net Expense Ratio 0.20%

Net Expense Ratio excluding Investment Related Expenses is 0.20%

  • Acquired Fund Fees and Expenses 0.14%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. (Effective Sep 30, 2024)
Analyst-Driven % as of Sep 30, 2024
55.00
Data Coverage % as of Sep 30, 2024
88.00

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 132, 4,456, 132, 73 and 132 Funds, respectively in Lipper's Mixed-Asset Target Today Funds classification.

Holdings

Holdings

as of Oct 31, 2024
Name Weight (%)
iShares ESG Aware US Agg Bond ETF 52.14
iShares ESG Aware MSCI USA ETF 22.10
ISHARES TIPS BOND ETF 7.90
iShares ESG Aware MSCI EAFE ETF 6.93
iShares ESG Aware MSCI EM ETF 3.10
Name Weight (%)
iShares ESG Aware MSCI USA Small-C 2.88
ISHARES DEVELOPD RL ESTAT CL K 2.24
ISHARES MSCI EAFE SMALL-CAP ETF 1.12
ISHARES MSCI CANADA ETF 0.87
ISHARES MSCI EMERGING MARKETS SMAL 0.53
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. 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
as of Oct 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Oct 31, 2024

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
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

Christopher Chung
Christopher Chung
Head of Asset Allocation and Custom Strategies for LifePath

  

Read More

Christopher Chung, CFA, Director, is the Head of Asset Allocation and Custom Strategies for LifePath. Mr. Chung's service dates back to 2008, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. As a Senior Portfolio Manager within the Multi-Asset Strategies & Solutions (MASS) group Mr. Chung is responsible for the design, implementation, and oversight of multi-asset Defined Contribution and 529 strategies.

 

At BGI, he was a portfolio manager within the BlackRock Multi-Asset Client Solutions (BMACS) Group focusing on the development and implementation of both target-date and college savings strategies. Prior to joining BGI, Mr. Chung was a Senior Manager within the Portfolio Management and Analytics Group at American Express. Mr.Chung started his career as a research professional at the Center for Interuniversity Research and Analysis of Organizations (CIRANO) in Montreal, Canada.

 

Mr. Chung earned a BBE degree in financial economics from Brock University and a MA degree in economics from Concordia University. Mr. Chung is a CFA charterholder.

Lisa O'Connor, CFA
Lisa O'Connor, CFA
Global Head of Model Portfolio Solutions and the Deputy CIO for Solutions

  

Read More

Lisa O'Connor, Managing Director, is the Global Head of Model Portfolio Solutions and the Deputy CIO for Solutions. The Multi-Asset Strategies & Solutions (MASS) team is the investment group at the heart of BlackRock's portfolio construction, asset allocation, and active management ecosystem. MASS draws on the full toolkit of BlackRock's index, factor, and alpha-seeking investment capabilities to deliver precise investment outcomes and cutting-edge alpha insights. MASS constructs active asset allocation strategies and whole portfolio solutions across a wide spectrum of commingled funds, separate accounts, model portfolios, and outsourcing solutions in the wealth and institutional channels.

 

Prior to joining BlackRock in April 2017 - Ms. O'Connor served as the Head of Global Portfolio Management for SSGA's Global Macro fund. The fund utilized both proprietary quantitative and fundamental strategies for alpha generation.

 

Before SSGA - Ms. O'Connor was at Mellon Capital Management for fourteen years where she worked extensively in the development and management of quantitative investment strategies. Her last role at Mellon Capital was leading the active fixed income team, with investment strategies ranging from hedge funds to actively managed ETFs. She served as a Senior Portfolio Manager for both the Mellon Global Opportunity Hedge Fund and the Mellon Global Fixed Income Hedge Fund. Ms. O'Connor was named one of the 50 leading women in hedge funds by the Hedge Fund Journal in 2015.

Greg Savage
Greg Savage
Head of Americas Index Asset Allocation
Read More

Greg Savage, CFA, Managing Director, is the Head of the Americas Index Asset Allocation team within BlackRock's ETF and Index Investment Group. He is responsible for overseeing the management of the LifePath Target Date Funds as well as a wide range of fund of funds for both Institutional and Defined Contribution clients. Previously, Greg was the Head of iShares Equity Portfolio Management team within BlackRock's Index Equity team where he was responsible for overseeing the management of the Americas listed iShares equity funds.

 

Mr. Savage's service with the firm dates back to 1999, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. At BGI he was a senior portfolio manager and team leader in the iShares Index Equity Portfolio Management Group and was previously a transition manager in the Transition Management Group. Prior to BGI, Mr. Savage worked at Pacific Investment Management Company (PIMCO) from 1997 to 1999 in various roles.

 

Mr. Savage earned a BS degree in Accounting from the University of Colorado at Boulder in 1994.

 

 

Paul Whitehead
Paul Whitehead
Read More

Paul Whitehead, Managing Director, is the Deputy Head of Index Equity Investments with responsibility for Global Index Asset Allocation, Transition Management (TRIM), and Americas Portfolio Management within BlackRock’s Global Markets & Index Investments (“BGM”).

 

Mr. Whitehead's service with the firm dates back to 1996, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Prior to assuming his current role , Mr. Whitehead was Global Head of Equity Trading, Global Head of Transition Management and Head of Americas Equity Trading. Previously, he managed the trading team responsible for all Institutional Index funds, Exchange Traded funds, and Transition Management mandates.

 

Mr. Whitehead earned a BS degree in economics at the University of Colorado in 1993.

Portfolio Manager

Literature

Literature

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