Equity

MXCAX

Emerging Markets ex-China Fund

Buy MXCAX
  • NAV as of Dec 26, 2024 $10.90
    52 WK: 10.79 - 12.58
  • 1 Day NAV Change as of Dec 26, 2024 -0.04 (-0.37%)
  • NAV Total Return as of Dec 26, 2024 YTD: -2.30%

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

Performance

  1y 3y 5y 10y Incept.
Total Return (%) 18.37 - - - 17.49
Return w/ Sales Charge (%) 12.16 - - - 13.36
Benchmark (%) 27.40 - - - 20.25
Morningstar Category Avg. (%) 23.10 - - - -
Morningstar Ranking 673/795 - - - -
Morningstar Quartile 4 - - - -
Lipper Ranking 649/775 - - - -
Lipper Quartile 4 - - - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
Total Return (%) 5.66 -0.25 1.58 18.37 - - - 27.49
Return w/ Sales Charge (%) 0.12 -5.49 -3.75 12.16 - - - 20.80
Benchmark (%) 12.71 1.26 3.96 27.40 - - - 31.93
Morningstar Category Avg. (%) 9.44 -3.79 2.34 23.10 - - - -
  2019 2020 2021 2022 2023
Total Return (%) - - - - -
Annual w/ Sales Charge (%) - - - - -
Benchmark (%) - - - - -
Morningstar Category Avg. (%) - - - - -

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 Dec 26, 2024
$6.7 M
Share Class launch date
Mar 29, 2023
Benchmark Index
MSCI Emerging Markets ex China (Net)
Morningstar Category
Diversified Emerging Mkts
CUSIP
09261A862
Open to New Investors
Yes
Size of Class (Millions)
as of Dec 26, 2024
$0.2 M
Asset Class
Equity
Distribution Frequency
-
Lipper Classification
Emerging Markets Funds
Max Offer Price
as of Dec 26, 2024
$11.50
Turnover Percent in the Annual Report
as of Apr 30, 2024
37%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Nov 29, 2024
123
P/E Ratio - Forward
as of Nov 29, 2024
13.23
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of -
-
Active Share
as of -
-
P/B Ratio
as of Nov 29, 2024
2.25
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.

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 Dec 21, 2024
A
MSCI ESG Quality Score (0-10)
as of Dec 21, 2024
6.2
Fund Lipper Global Classification
as of Dec 21, 2024
Equity Emerging Mkts Global
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of Dec 21, 2024
468.67
MSCI ESG % Coverage
as of Dec 21, 2024
93.81%
MSCI ESG Quality Score - Peer Percentile
as of Dec 21, 2024
64.14%
Funds in Peer Group
as of Dec 21, 2024
1,330
MSCI Weighted Average Carbon Intensity % Coverage
as of Dec 21, 2024
92.48%
All data is from MSCI ESG Fund Ratings as of Dec 21, 2024, based on holdings as of Jul 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 Nov 29, 2024
0.62%
MSCI - Nuclear Weapons
as of Nov 29, 2024
0.00%
MSCI - Civilian Firearms
as of Nov 29, 2024
0.00%
MSCI - Tobacco
as of Nov 29, 2024
0.42%
MSCI - UN Global Compact Violators
as of Nov 29, 2024
0.00%
MSCI - Thermal Coal
as of Nov 29, 2024
1.13%
MSCI - Oil Sands
as of Nov 29, 2024
0.00%
Business Involvement Coverage
as of Nov 29, 2024
95.02%
Percentage of Fund not covered
as of Nov 29, 2024
4.98%
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 1.13% and for Oil Sands 0.00%.

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 4.42%
Net Expense Ratio 1.13%

Net Expense Ratio excluding Investment Related Expenses is 1.11%

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

Ratings

Ratings

Holdings

Holdings

as of Nov 29, 2024
Name Weight (%)
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 16.35
SAMSUNG ELECTRONICS CO LTD 3.98
SK HYNIX INC 2.90
PUMA SE 1.77
RELIANCE INDUSTRIES LTD 1.71
Name Weight (%)
ACCTON TECHNOLOGY CORP 1.64
AKBANK TAS 1.49
MEDIATEK INC 1.43
EMEMORY TECHNOLOGY INC 1.43
KASPIKZ AO 1.35
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 Nov 29, 2024

% of Market Value

Type Fund Benchmark Net
as of Nov 29, 2024

% of Market Value

Type Fund Benchmark Net
as of Nov 29, 2024

% of Market Value

Type Fund Benchmark Net
as of Nov 29, 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

Christoph Brinkmann
Christoph Brinkmann
Stephen Andrews
Stephen Andrews
Christopher Colunga
Christopher Colunga
Portfolio Manager

Literature

Literature

 

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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USR-9694