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Name

As of 04/15/2024

Price

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

BLACKROCK TACTICAL OPPORTUNITIES FUND

PCBSX | Fund

$14.08

$1.56 B

24.09%

$3.40

1.12%

Vitals

YTD Return

7.4%

1 yr return

10.5%

3 Yr Avg Return

5.3%

5 Yr Avg Return

4.4%

Net Assets

$1.56 B

Holdings in Top 10

31.1%

52 WEEK LOW AND HIGH

$14.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.12%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 136.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/15/2024

Price

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

BLACKROCK TACTICAL OPPORTUNITIES FUND

PCBSX | Fund

$14.08

$1.56 B

24.09%

$3.40

1.12%

PCBSX - Profile

Distributions

  • YTD Total Return 7.4%
  • 3 Yr Annualized Total Return 5.3%
  • 5 Yr Annualized Total Return 4.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.08%
DIVIDENDS
  • Dividend Yield 24.1%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    BLACKROCK TACTICAL OPPORTUNITIES FUND
  • Fund Family Name
    BlackRock-Advised Funds
  • Inception Date
    Jun 17, 1994
  • Shares Outstanding
    52113
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Philip 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).
Read More

PCBSX - Performance

Return Ranking - Trailing

Period PCBSX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.4% -73.0% 19.4% 86.38%
1 Yr 10.5% -9.1% 86.9% 78.91%
3 Yr 5.3%* -9.5% 16.2% 64.66%
5 Yr 4.4%* -4.9% 14.4% 33.63%
10 Yr 3.7%* -0.9% 7.5% 25.53%

* Annualized

Return Ranking - Calendar

Period PCBSX Return Category Return Low Category Return High Rank in Category (%)
2023 -8.3% -22.7% 305.1% 31.85%
2022 2.3% -9.8% 27.3% 88.31%
2021 0.2% -20.8% 10.9% 39.56%
2020 3.9% -12.4% 29.4% 16.34%
2019 -1.2% -10.5% 15.8% 71.20%

Total Return Ranking - Trailing

Period PCBSX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.4% -73.0% 19.4% 86.74%
1 Yr 10.5% -13.4% 86.9% 72.00%
3 Yr 5.3%* -9.5% 16.2% 58.23%
5 Yr 4.4%* -5.3% 14.4% 31.39%
10 Yr 3.7%* -0.9% 7.5% 24.47%

* Annualized

Total Return Ranking - Calendar

Period PCBSX Return Category Return Low Category Return High Rank in Category (%)
2023 2.4% -22.7% 305.1% 32.22%
2022 5.8% -9.8% 27.3% 88.31%
2021 0.2% -20.8% 10.9% 50.22%
2020 6.6% -8.4% 29.4% 16.83%
2019 1.5% -10.2% 18.0% 67.54%

NAV & Total Return History

PCBSX - Holdings

Concentration Analysis

PCBSX Category Low Category High PCBSX % Rank
Net Assets 1.56 B 1.5 M 5.01 B 10.33%
Number of Holdings 1055 4 4478 15.19%
Net Assets in Top 10 485 M -398 M 2.55 B 14.49%
Weighting of Top 10 31.06% 13.1% 100.0% 83.03%

Top 10 Holdings

  1. U.S. Treasury Bills 5.44%
  2. U.S. Treasury Bills 5.20%
  3. Microsoft Corp. 3.99%
  4. U.S. Treasury Bills 3.67%
  5. Apple, Inc. 3.56%
  6. U.S. Treasury Bills 2.02%
  7. Amazon.com, Inc. 1.98%
  8. NVIDIA Corp. 1.98%
  9. U.S. Treasury Bills 1.72%
  10. BlackRock Liquidity Funds, T-Fund, Institutional Class 1.51%

Asset Allocation

Weighting Return Low Return High PCBSX % Rank
Stocks 		68.89% -3.75% 97.95% 11.31%
Cash 		32.71% -6278.21% 410.43% 58.66%
Bonds 		0.00% -326.45% 6347.80% 63.25%
Preferred Stocks 		0.00% -0.12% 46.97% 56.89%
Convertible Bonds 		0.00% 0.00% 87.92% 72.44%
Other 		-1.61% -21.53% 148.54% 89.05%

Stock Sector Breakdown

Weighting Return Low Return High PCBSX % Rank
Technology 		22.63% 0.00% 39.58% 51.57%
Healthcare 		16.57% 0.00% 45.63% 72.83%
Financial Services 		13.56% 0.00% 59.28% 39.76%
Communication Services 		10.69% 0.00% 21.78% 33.07%
Consumer Cyclical 		9.24% 0.00% 29.09% 31.50%
Industrials 		7.54% 0.00% 21.45% 20.47%
Utilities 		5.93% 0.00% 9.23% 36.22%
Energy 		4.46% 0.00% 100.00% 24.80%
Real Estate 		3.27% 0.00% 51.26% 39.37%
Basic Materials 		3.09% 0.00% 27.46% 52.36%
Consumer Defense 		3.02% 0.00% 13.62% 44.49%

Stock Geographic Breakdown

Weighting Return Low Return High PCBSX % Rank
US 		52.63% -8.85% 91.88% 15.55%
Non US 		16.27% -19.62% 42.11% 21.55%

Bond Sector Breakdown

Weighting Return Low Return High PCBSX % Rank
Cash & Equivalents 		19.67% 0.27% 100.00% 30.04%
Government 		6.44% 0.00% 84.29% 15.19%
Securitized 		0.00% 0.00% 56.83% 67.49%
Corporate 		0.00% 0.00% 87.73% 81.27%
Municipal 		0.00% 0.00% 27.33% 47.00%
Derivative 		-1.61% 0.00% 88.81% 72.79%

Bond Geographic Breakdown

Weighting Return Low Return High PCBSX % Rank
US 		0.00% -126.19% 6311.18% 47.35%
Non US 		0.00% -382.37% 121.02% 78.09%

PCBSX - Expenses

Operational Fees

PCBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.12% 0.29% 31.15% 80.94%
Management Fee 0.53% 0.00% 2.50% 12.01%
12b-1 Fee 0.25% 0.00% 1.00% 37.16%
Administrative Fee 0.06% 0.01% 0.30% 10.96%

Sales Fees

PCBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PCBSX 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.

PCBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 136.00% 0.00% 491.00% 54.84%

PCBSX - Distributions

Dividend Yield Analysis

PCBSX Category Low Category High PCBSX % Rank
Dividend Yield 24.09% 0.00% 4.56% 33.57%

Dividend Distribution Analysis

PCBSX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annually

Net Income Ratio Analysis

PCBSX Category Low Category High PCBSX % Rank
Net Income Ratio 0.08% -2.51% 6.83% 51.08%

Capital Gain Distribution Analysis

PCBSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

PCBSX - 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

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.

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.

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

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