Name
As of 11/22/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
12.2%
1 yr return
9.8%
3 Yr Avg Return
7.2%
5 Yr Avg Return
5.3%
Net Assets
$2.17 B
Holdings in Top 10
24.5%
52 WEEK LOW AND HIGH
$14.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.09%
SALES FEES
Front Load 5.25%
Deferred Load N/A
TRADING FEES
Turnover 136.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/22/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
PCBAX - Profile
Distributions
- YTD Total Return 12.2%
- 3 Yr Annualized Total Return 7.2%
- 5 Yr Annualized Total Return 5.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.09%
- Dividend Yield 5.8%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameBLACKROCK TACTICAL OPPORTUNITIES FUND
-
Fund Family NameBlackRock-Advised Funds
-
Inception DateJun 17, 1994
-
Shares Outstanding13428934
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPhilip Green
Fund Description
The Fund uses a macro asset allocation strategy, investing varying percentages of its portfolio in global stocks, bonds, money market instruments, foreign currencies and cash. The Fund has wide flexibility in the relative weightings given to each category. The Fund takes both long and short positions within and across each category, which the Fund expects to result in a lower correlation to the equity or fixed-income markets than if the Fund invested in either such market in its entirety.
In selecting investments, the Fund management team will identify global macro opportunities and position the Fund using a combination of individual securities and derivatives.
The Fund uses a combination of a systematic (i.e. rule-based) investment process and a discretionary investment process to allocate assets. The systematic process compares data across similar assets to rank expected return opportunities and to appropriately scale the Fund’s exposure. The discretionary process derives investment themes based on research and analysis of macro-economic data and seeks exposures to these themes.
With respect to its equity investments, the Fund may invest in individual equity securities to an unlimited extent. The Fund may invest in common stock, preferred stock, securities convertible into common stock, non-convertible preferred stock and depositary receipts. The Fund may invest in securities of both U.S. and non-U.S. issuers without limit, which can be U.S. dollar-based or non-U.S. dollar-based and may be currency hedged or unhedged. The Fund may invest in securities of companies of any market capitalization.
With respect to its fixed-income investments, the Fund may invest in individual fixed-income securities to an unlimited extent. The Fund may invest in a portfolio of fixed-income securities such as corporate bonds and notes, commercial and residential mortgage-backed securities (bonds that are backed by a mortgage loan or pools of loans secured either by commercial property or residential mortgages, as applicable), collateralized mortgage obligations (bonds that are backed by cash flows from pools of mortgages and may have multiple classes with different payment rights and protections), collateralized debt obligations (“CDOs”), asset-backed securities, convertible securities, debt obligations of governments and their sub-divisions (including those of non-U.S. governments), other floating or variable rate obligations, municipal obligations and zero coupon debt securities. The Fund may also invest a significant portion of its assets in non-investment grade bonds (“junk” bonds or distressed securities), non-investment grade bank loans, foreign bonds (both U.S. dollar- and non-U.S. dollar-denominated) and bonds of emerging market issuers. The Fund may invest in non-U.S. dollar-denominated bonds on a currency hedged or unhedged basis.
With respect to its cash investments, the Fund may hold high quality money market securities, including short term U.S. Government securities, U.S. Government agency securities, securities issued by U.S. Government-sponsored enterprises and U.S. Government instrumentalities, bank obligations, commercial paper, including asset-backed commercial paper, corporate notes and repurchase agreements. The Fund may invest a significant portion of its assets in money market funds, including those advised by BlackRock or its affiliates.
The Fund may invest in derivatives, including, but not limited to, interest rate, total return and credit default swaps, options, futures, options on futures and swaps and foreign currency transactions (including swaps), for hedging purposes, as well as to increase the return on its portfolio investments. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls). The Fund may also use forward foreign currency exchange contracts (obligations to buy or sell a currency at a set rate in the future) to hedge against movement in the value of non-U.S. currencies.
The Fund may also invest in indexed and inverse floating rate securities.
The Fund may invest in U.S. and non-U.S. real estate investment trusts (“REITs”), structured products (including, but not limited to, structured notes, credit linked notes and participation notes, or other instruments evidencing interests in special purpose vehicles, trusts, or other entities that hold or represent interests in fixed-income securities) and floating rate securities (such as bank loans).
PCBAX - Performance
Return Ranking - Trailing
| Period | PCBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.2% | -73.0% | 19.4% | 85.66% |
| 1 Yr | 9.8% | -9.1% | 86.9% | 79.27% |
| 3 Yr | 7.2%* | -9.5% | 16.2% | 65.46% |
| 5 Yr | 5.3%* | -4.9% | 14.4% | 36.32% |
| 10 Yr | 3.9%* | -0.9% | 7.5% | 26.60% |
* Annualized
Return Ranking - Calendar
| Period | PCBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -8.3% | -22.7% | 305.1% | 30.74% |
| 2022 | 2.3% | -9.8% | 27.3% | 89.52% |
| 2021 | 0.3% | -20.8% | 10.9% | 40.00% |
| 2020 | 4.0% | -12.4% | 29.4% | 16.83% |
| 2019 | -1.6% | -10.5% | 15.8% | 68.59% |
Total Return Ranking - Trailing
| Period | PCBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.2% | -73.0% | 19.4% | 86.02% |
| 1 Yr | 9.8% | -13.4% | 86.9% | 85.09% |
| 3 Yr | 7.2%* | -9.5% | 16.2% | 78.71% |
| 5 Yr | 5.3%* | -5.3% | 14.4% | 56.05% |
| 10 Yr | 3.9%* | -0.9% | 7.5% | 39.36% |
* Annualized
Total Return Ranking - Calendar
| Period | PCBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.4% | -22.7% | 305.1% | 31.11% |
| 2022 | 5.8% | -9.8% | 27.3% | 89.52% |
| 2021 | 0.3% | -20.8% | 10.9% | 50.67% |
| 2020 | 6.5% | -8.4% | 29.4% | 18.32% |
| 2019 | 1.4% | -10.2% | 18.0% | 67.02% |
NAV & Total Return History
PCBAX - Holdings
Concentration Analysis
| PCBAX | Category Low | Category High | PCBAX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.17 B | 1.5 M | 5.01 B | 10.70% |
| Number of Holdings | 1051 | 4 | 4478 | 15.55% |
| Net Assets in Top 10 | 477 M | -398 M | 2.55 B | 14.84% |
| Weighting of Top 10 | 24.48% | 13.1% | 100.0% | 83.49% |
Top 10 Holdings
- Microsoft Corp. 3.41%
- Apple, Inc. 3.34%
- NVIDIA Corp. 2.95%
- BlackRock Liquidity Funds, T-Fund, Institutional Class 2.86%
- U.S. Treasury Bills 2.57%
- U.S. Treasury Bills 2.56%
- U.S. Treasury Bills 2.27%
- Amazon.com, Inc. 1.99%
- U.S. Treasury Bills 1.28%
- Alphabet, Inc., Class A 1.26%
Asset Allocation
| Weighting | Return Low | Return High | PCBAX % Rank | |
|---|---|---|---|---|
| Stocks | 69.48% | -3.75% | 97.95% | 11.66% |
| Cash | 33.89% | -6278.21% | 410.43% | 59.01% |
| Preferred Stocks | 0.10% | -0.12% | 46.97% | 80.57% |
| Bonds | 0.00% | -326.45% | 6347.80% | 63.60% |
| Convertible Bonds | 0.00% | 0.00% | 87.92% | 89.75% |
| Other | -3.47% | -21.53% | 148.54% | 89.40% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PCBAX % Rank | |
|---|---|---|---|---|
| Technology | 22.63% | 0.00% | 39.58% | 51.97% |
| Healthcare | 16.57% | 0.00% | 45.63% | 73.23% |
| Financial Services | 13.56% | 0.00% | 59.28% | 40.16% |
| Communication Services | 10.69% | 0.00% | 21.78% | 33.46% |
| Consumer Cyclical | 9.24% | 0.00% | 29.09% | 31.89% |
| Industrials | 7.54% | 0.00% | 21.45% | 20.87% |
| Utilities | 5.93% | 0.00% | 9.23% | 36.61% |
| Energy | 4.46% | 0.00% | 100.00% | 25.20% |
| Real Estate | 3.27% | 0.00% | 51.26% | 39.76% |
| Basic Materials | 3.09% | 0.00% | 27.46% | 52.76% |
| Consumer Defense | 3.02% | 0.00% | 13.62% | 44.88% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PCBAX % Rank | |
|---|---|---|---|---|
| US | 52.64% | -8.85% | 91.88% | 15.90% |
| Non US | 16.83% | -19.62% | 42.11% | 21.91% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PCBAX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 11.59% | 0.27% | 100.00% | 30.39% |
| Government | 6.44% | 0.00% | 84.29% | 15.55% |
| Securitized | 0.00% | 0.00% | 56.83% | 87.63% |
| Corporate | 0.00% | 0.00% | 87.73% | 92.23% |
| Municipal | 0.00% | 0.00% | 27.33% | 80.21% |
| Derivative | -3.47% | 0.00% | 88.81% | 73.14% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PCBAX % Rank | |
|---|---|---|---|---|
| US | 0.00% | -126.19% | 6311.18% | 47.70% |
| Non US | 0.00% | -382.37% | 121.02% | 83.04% |
PCBAX - Expenses
Operational Fees
| PCBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.09% | 0.29% | 31.15% | 82.73% |
| Management Fee | 0.53% | 0.00% | 2.50% | 12.37% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 58.11% |
| Administrative Fee | 0.06% | 0.01% | 0.30% | 15.07% |
Sales Fees
| PCBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.25% | 2.50% | 5.75% | 71.15% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| PCBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| PCBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 136.00% | 0.00% | 491.00% | 55.24% |
PCBAX - Distributions
Dividend Yield Analysis
| PCBAX | Category Low | Category High | PCBAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.81% | 0.00% | 4.56% | 76.33% |
Dividend Distribution Analysis
| PCBAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| PCBAX | Category Low | Category High | PCBAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.09% | -2.51% | 6.83% | 52.52% |
Capital Gain Distribution Analysis
| PCBAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 20, 2023 | $0.847 | OrdinaryDividend |
| Jul 20, 2023 | $0.680 | OrdinaryDividend |
| Dec 19, 2022 | $0.479 | OrdinaryDividend |
| Dec 23, 2020 | $0.338 | OrdinaryDividend |
| Dec 23, 2019 | $0.411 | OrdinaryDividend |
| Dec 21, 2018 | $0.508 | OrdinaryDividend |
| Dec 21, 2018 | $0.421 | CapitalGainShortTerm |
| Dec 21, 2018 | $0.418 | CapitalGainLongTerm |
| Dec 22, 2017 | $0.114 | OrdinaryDividend |
| Dec 29, 2016 | $0.189 | OrdinaryDividend |
| Dec 30, 2015 | $0.469 | OrdinaryDividend |
| Dec 30, 2015 | $0.046 | CapitalGainShortTerm |
| Dec 30, 2015 | $0.146 | CapitalGainLongTerm |
| Dec 30, 2014 | $0.306 | OrdinaryDividend |
| Dec 30, 2014 | $0.328 | CapitalGainShortTerm |
| Dec 30, 2014 | $0.470 | CapitalGainLongTerm |
| Dec 30, 2013 | $0.156 | OrdinaryDividend |
| Dec 30, 2013 | $0.580 | CapitalGainShortTerm |
| Dec 30, 2013 | $0.734 | CapitalGainLongTerm |
| Oct 17, 2013 | $0.008 | OrdinaryDividend |
| Jul 18, 2013 | $0.021 | OrdinaryDividend |
| Apr 17, 2013 | $0.023 | OrdinaryDividend |
| Jan 02, 2013 | $0.014 | ExtraDividend |
| Dec 13, 2012 | $0.042 | OrdinaryDividend |
| Dec 13, 2012 | $0.242 | CapitalGainShortTerm |
| Dec 13, 2012 | $0.334 | CapitalGainLongTerm |
| Oct 18, 2012 | $0.072 | OrdinaryDividend |
| Apr 18, 2012 | $0.151 | OrdinaryDividend |
| Dec 12, 2011 | $0.016 | OrdinaryDividend |
| Dec 12, 2011 | $0.306 | CapitalGainLongTerm |
| Oct 20, 2011 | $0.056 | OrdinaryDividend |
| Jul 21, 2011 | $0.072 | OrdinaryDividend |
| Apr 20, 2011 | $0.043 | OrdinaryDividend |
| Dec 14, 2010 | $0.083 | OrdinaryDividend |
| Oct 21, 2010 | $0.070 | OrdinaryDividend |
| Jul 22, 2010 | $0.061 | OrdinaryDividend |
| Apr 22, 2010 | $0.080 | OrdinaryDividend |
| Dec 14, 2009 | $0.049 | OrdinaryDividend |
| Oct 22, 2009 | $0.055 | OrdinaryDividend |
| Jul 23, 2009 | $0.084 | OrdinaryDividend |
| Dec 15, 2008 | $0.014 | OrdinaryDividend |
| Dec 15, 2008 | $0.186 | CapitalGainLongTerm |
| Oct 23, 2008 | $0.062 | OrdinaryDividend |
| Jul 17, 2008 | $0.084 | OrdinaryDividend |
| Apr 17, 2008 | $0.056 | OrdinaryDividend |
| Dec 06, 2007 | $0.116 | OrdinaryDividend |
| Dec 06, 2007 | $0.205 | CapitalGainShortTerm |
| Dec 06, 2007 | $1.094 | CapitalGainLongTerm |
| Oct 23, 2007 | $0.065 | OrdinaryDividend |
| Jul 19, 2007 | $0.076 | OrdinaryDividend |
| Apr 19, 2007 | $0.063 | OrdinaryDividend |
| Dec 07, 2006 | $0.061 | OrdinaryDividend |
| Dec 07, 2006 | $0.632 | CapitalGainLongTerm |
| Sep 27, 2006 | $0.054 | OrdinaryDividend |
| Jun 28, 2006 | $0.054 | OrdinaryDividend |
| Mar 29, 2006 | $0.053 | OrdinaryDividend |
| Dec 28, 2005 | $0.075 | OrdinaryDividend |
| Dec 08, 2005 | $0.655 | CapitalGainLongTerm |
| Sep 28, 2005 | $0.046 | OrdinaryDividend |
| Jun 23, 2005 | $0.047 | OrdinaryDividend |
| Mar 29, 2005 | $0.036 | OrdinaryDividend |
| Dec 20, 2004 | $0.119 | OrdinaryDividend |
| Sep 28, 2004 | $0.052 | OrdinaryDividend |
| Jun 22, 2004 | $0.040 | OrdinaryDividend |
| Mar 29, 2004 | $0.044 | OrdinaryDividend |
| Dec 19, 2003 | $0.060 | OrdinaryDividend |
| Sep 25, 2003 | $0.047 | OrdinaryDividend |
| Jun 26, 2003 | $0.078 | OrdinaryDividend |
| Mar 27, 2003 | $0.069 | OrdinaryDividend |
| Dec 20, 2002 | $0.090 | OrdinaryDividend |
| Sep 24, 2002 | $0.071 | OrdinaryDividend |
| Jun 25, 2002 | $0.104 | OrdinaryDividend |
| Mar 25, 2002 | $0.101 | OrdinaryDividend |
| Dec 21, 2001 | $0.053 | OrdinaryDividend |
| Sep 24, 2001 | $0.043 | OrdinaryDividend |
| Jun 25, 2001 | $0.052 | OrdinaryDividend |
| Mar 26, 2001 | $0.098 | OrdinaryDividend |
| Dec 21, 2000 | $0.098 | OrdinaryDividend |
| Nov 13, 2000 | $0.088 | CapitalGainShortTerm |
| Nov 13, 2000 | $2.737 | CapitalGainLongTerm |
| Sep 25, 2000 | $0.089 | OrdinaryDividend |
| Jun 26, 2000 | $0.105 | OrdinaryDividend |
| Mar 27, 2000 | $0.093 | OrdinaryDividend |
| Dec 22, 1999 | $0.094 | OrdinaryDividend |
| Nov 10, 1999 | $0.696 | CapitalGainLongTerm |
| Sep 24, 1999 | $0.103 | OrdinaryDividend |
| Jun 24, 1999 | $0.101 | OrdinaryDividend |
| Mar 25, 1999 | $0.094 | OrdinaryDividend |
| Dec 24, 1998 | $0.108 | OrdinaryDividend |
| Nov 09, 1998 | $0.115 | CapitalGainShortTerm |
| Nov 09, 1998 | $0.672 | CapitalGainLongTerm |
| Sep 24, 1998 | $0.101 | OrdinaryDividend |
| Jun 24, 1998 | $0.060 | OrdinaryDividend |
| Mar 25, 1998 | $0.094 | OrdinaryDividend |
PCBAX - Fund Manager Analysis
Managers
Philip Green
Start Date
Tenure
Tenure Rank
Dec 31, 2006
15.42
15.4%
Philip Green, ortfolio Manager，Primarily responsible for the day-to-day management of the Master Portfolio since 2016, including setting the Master Portfolio’s overall investment strategy and overseeing the management of the Master Portfolio. managing Director of BlackRock, Inc. since 2006
Thomas Becker
Start Date
Tenure
Tenure Rank
Jan 28, 2016
6.34
6.3%
Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
Michael Pensky
Start Date
Tenure
Tenure Rank
Jan 28, 2016
6.34
6.3%
Michael Pensky, CFA, Vice President and Associate, is a researcher and portfolio manager in the GTAA team. The team is responsible for managing global tactical asset allocation products with custom client preferences and constraints. Mr. Pensky’s service with the firm dates back to 2011. Prior to joining BlackRock, Mr. Pensky held a trading desk strategist position in Morgan Stanley’s Securitized Products Group and had worked as a senior analyst in Foreign Exchange Sales & Trading at SunTrust Robinson Humphrey.
Richard Murrall
Start Date
Tenure
Tenure Rank
May 03, 2017
5.08
5.1%
Director of BlackRock, Inc. since 2018; Vice President of BlackRock, Inc. from 2016 to 2017; Associate of BlackRock, Inc. from 2013 to 2015; Analyst of BlackRock, Inc. from 2010 to 2012. Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.02 | 17.37 | 4.48 | 1.67 |