Emerging Markets ex-China Fund | MKECX

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NAV as of Mar 28, 2025 $10.47
52 WK: 10.39 - 12.61
1 Day NAV Change as of Mar 28, 2025 -0.21 (-1.97%)
NAV Total Return as of Mar 28, 2025 YTD: -2.61%
NEUTRAL

Overview

About this Fund

1. A high conviction strategy that invests in emerging markets countries excluding China

2. Seeks long-term capital appreciation by combining top down macro views with in-depth fundamental research

3. Global portfolio management team using local teams to drive stock selection

Investment Approach

The Fund seeks long-term capital appreciation by investing in securities of issuers in countries having developing capital markets (other than China).

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Performance

Returns

	1y	3y	5y	10y	Incept.
Total Return (%)	-3.47	-	-	-	9.24
Benchmark (%)	3.56	-	-	-	11.60
Morningstar Category Avg. (%)	6.04	-	-	-	-
Morningstar Ranking	757/787	-	-	-	-
Morningstar Quartile	4	-	-	-	-
Lipper Ranking	732/762	-	-	-	-
Lipper Quartile	4	-	-	-	-

Performance data is not currently available

	YTD	1m	3m	1y	3y	5y	10y	Incept.
Total Return (%)	-3.47	-3.66	-8.79	-3.47	-	-	-	16.81
Benchmark (%)	3.56	-1.18	-8.12	3.56	-	-	-	21.21
Morningstar Category Avg. (%)	6.04	-0.97	-6.85	6.04	-	-	-	-

Performance data is not currently available

	2020	2021	2022	2023	2024
Total Return (%)	-	-	-	-	-3.47
Benchmark (%)	-	-	-	-	3.56
Morningstar Category Avg. (%)	-	-	-	-	6.04

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

Size of Fund (Millions)

as of Mar 28, 2025

$9.5 M

Share Class launch date

Mar 29, 2023

Benchmark Index

MSCI Emerging Markets ex China (Net)

Morningstar Category

Diversified Emerging Mkts

CUSIP

09261A847

Open to New Investors

Yes

Size of Class (Millions)

as of Mar 28, 2025

$3.0 M

Asset Class

Equity

Distribution Frequency

-

Lipper Classification

Emerging Markets Funds

Max Offer Price

as of Mar 28, 2025

$10.47

Turnover Percent in the Annual Report

as of Apr 30, 2024

37.00%

Portfolio Characteristics

Number of Holdings

as of Feb 28, 2025

89

P/E Ratio - Forward

as of Feb 28, 2025

12.23

Average Market Cap (Millions)

as of -

-

Fund Standard Deviation (3y)

as of -

-

Active Share

as of -

-

P/B Ratio

as of Feb 28, 2025

2.14

Alpha (3y)

as of -

-

R-Squared (3y)

as of -

-

Beta (3y)

as of -

-

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	3.90%
Net Expense Ratio	0.83%

Net Expense Ratio excluding Investment Related Expenses is 0.81%

Acquired Fund Fees and Expenses 0.01%
Interest expense 0.01%

Ratings

Holdings

as of Feb 28, 2025

Name	Weight (%)
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	15.77
SAMSUNG ELECTRONICS CO LTD	2.97
ICICI BANK LTD	2.87
MAHINDRA AND MAHINDRA LTD	2.40
SK HYNIX INC	2.39

Name	Weight (%)
NTPC LTD	2.29
EMAAR PROPERTIES PJSC	2.09
MEDIATEK INC	1.95
EMEMORY TECHNOLOGY INC	1.90
LPP SA	1.74

Custom Columns

Name
Market Value
Weight (%)
Shares

Name	Market Value	Weight (%)	Shares
TAIWAN SEMICONDUCTOR MANUFACTURING	$1,489,676.19	15.73	47,000.00
BLACKROCK LIQ FUND T-FD-IN	$394,766.79	4.17	394,767.00
SK HYNIX INC	$225,837.31	2.38	1,737.00
NTPC LTD	$216,090.77	2.28	60,712.00
EMAAR PROPERTIES	$197,559.13	2.09	53,548.00
MEDIATEK INC	$184,685.71	1.95	4,000.00
EMEMORY TECHNOLOGY INC	$179,504.76	1.90	2,000.00
SAMSUNG ELECTRONICS LTD	$179,158.18	1.89	4,809.00
ICICI BANK LTD	$178,900.95	1.89	13,001.00
MAHINDRA AND MAHINDRA LTD	$172,086.42	1.82	5,825.00

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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.

Exposure Breakdowns

as of Feb 28, 2025

% of Market Value

Type	Fund	Benchmark	Net
Information Technology	32.93	30.55	2.38
Financials	23.59	26.64	-3.05
Consumer Discretionary	14.98	6.35	8.63
Industrials	7.10	7.09	0.01
Real Estate	5.02	1.60	3.41
Materials	4.80	6.83	-2.03
Consumer Staples	3.66	5.00	-1.34
Health Care	2.71	3.27	-0.56
Utilities	2.29	2.69	-0.40
Communication	1.84	4.94	-3.10

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as of Feb 28, 2025

% of Market Value

Type	Fund	Benchmark	Net
Taiwan	22.73	27.63	-4.90
India	20.87	24.56	-3.68
Brazil	9.40	6.04	3.36
Korea	8.23	13.24	-5.01
Multi-Country	5.05	0.00	5.05
Poland	4.80	1.35	3.44
Mexico	4.61	2.68	1.93
Turkey	4.27	0.89	3.38
Hungary	3.08	0.39	2.69
Malaysia	2.88	2.03	0.86

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as of Feb 28, 2025

% of Market Value

Type	Fund	Benchmark	Net
Emerging Markets	93.85	99.60	-5.75
Europe	0.00	0.31	-0.31
Other	5.05	0.09	4.97
Cash and/or Derivatives	1.09	0.00	1.09

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as of Feb 28, 2025

% of Market Value

Type	Fund	Benchmark	Net
Large Cap ->$10bn	65.17	78.07	-12.90
Mid Cap - $2-$10bn	28.00	21.92	6.09
Small Cap -<$2bn	5.74	0.02	5.72
Cash and Derivatives	1.09	0.00	1.09

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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.