Commodity

BICSX

Commodity Strategies Fund

How To Buy
  • NAV as of Nov 04, 2024 $8.81
    52 WK: 7.76 - 9.11
  • 1 Day NAV Change as of Nov 04, 2024 0.05 (0.57%)
  • NAV Total Return as of Nov 04, 2024 YTD: 8.49%
  • Morningstar Rating
  • 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

Performance

  1y 3y 5y 10y
Total Return (%) 8.30 5.74 10.14 2.65
Benchmark (%) 0.96 3.66 7.79 0.03
Morningstar Category Avg. (%) 1.13 3.87 8.17 0.66
Morningstar Ranking 4/109 30/100 22/96 8/63
Morningstar Quartile 1 2 1 1
Lipper Category Avg. (%) 1.31 4.83 8.47 0.75
Lipper Ranking 4/110 29/102 23/98 11/66
Lipper Quartile 1 2 1 1
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 8.98 2.43 3.81 8.30 18.22 62.04 29.84
Benchmark (%) 5.86 4.86 0.68 0.96 11.40 45.52 0.27
Morningstar Category Avg. (%) 4.78 -0.89 1.72 1.13 17.25 52.12 6.04
Lipper Category Avg. (%) 5.58 3.44 -0.14 1.31 15.51 51.31 10.70
  2019 2020 2021 2022 2023
Total Return (%) 11.60 6.80 22.44 12.07 -4.33
Benchmark (%) 7.69 -3.12 27.11 16.09 -7.91
Morningstar Category Avg. (%) 7.87 -3.09 29.74 15.74 -5.56

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 04, 2024
$644.9 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 Nov 04, 2024
$435.9 M
Asset Class
Commodity
Distribution Frequency
Annual
Lipper Classification
Commodities General
Max Offer Price
as of Nov 04, 2024
$8.81
Turnover Percent in the Annual Report
as of May 31, 2024
53%

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio
as of Sep 30, 2024
16.94
Alpha (3y)
as of Sep 30, 2024
0.21
R-Squared (3y)
as of Sep 30, 2024
77.60
Beta (3y)
as of Sep 30, 2024
0.89
Best 3-Month Return Over the Last 3 Years
3 months ending Mar 31, 2022
19.96%
P/B Ratio
as of Sep 30, 2024
2.36
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of Sep 30, 2024
15.52
Effective Duration
as of Sep 30, 2024
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.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager considers ESG criteria in combination with other information during the idea generation, company research, portfolio construction and ongoing monitoring phases of the investment process. ESG information may be sourced from third-party vendors, as well as internal engagement commentary and site visits and input from BlackRock Investment Stewardship. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Fees

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

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Commodity Strategies Fund, as of Oct 31, 2024 rated against 98 Commodities Broad Basket Funds based on risk adjusted total return.

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 Sep 30, 2024 out of 102, 12,357, 102, 128 and 102 Funds, respectively in Lipper's Commodities General classification.

Holdings

Holdings

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.

Top Holdings

Holdings

Top Equity Holdings as of 31-March-2024

Name Fund Weight (%)
EXXON MOBIL CORP 3.21%
SHELL PLC 2.00%
BARRICK GOLD CORP 1.43%
CHEVRON CORP 1.40%
WHEATON PRECIOUS METALS CORP 1.38%
AGNICO EAGLE MINES LTD (ONTARIO) 1.32%
BP PLC 1.27%
CONOCOPHILLIPS 1.13%
GLENCORE PLC 1.12%
NORTHERN STAR RESOURCES LTD 0.91%

*% of Market Value

Exposure Breakdowns

Exposure Breakdowns

Sectors as of 31-March-2024

Name Equity Exposure Commodity Index Related Instruments* Total Benchmark
Energy 18.90% 14.81% 33.71% 29.64%
Agriculture 8.17% 15.67% 23.84% 34.36%
Industrial Metals 12.82% 7.77% 20.59% 15.54%
Precious Metals 10.13% 11.72% 21.86% 20.46%
TOTAL 50.03% 49.97% 100.00% 100.00%

*this column reflects the sector exposures of the Bloomberg Commodity Benchmark. Please note that in practice, exposures may differ slightly due to enhanced index techniques.

% of Market Value

Portfolio Managers

Portfolio Managers

Alastair Bishop
Alastair Bishop
Hannah Johnson
Hannah Johnson
Portfolio Manager
Read the Team's Commentary

Literature

Literature

 

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