BlackRock Dynamic High Income Portfolio
Fund
BDHCX
Price as of:
$8.70
+ $0.04
+ 0.46%
Primary Theme
fund company
Name
As of 12/24/2024Price
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
10.7%
1 yr return
11.0%
3 Yr Avg Return
0.7%
5 Yr Avg Return
2.8%
Net Assets
$1.09 B
Holdings in Top 10
34.2%
52 WEEK LOW AND HIGH
$8.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.87%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 180.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/24/2024Price
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
BDHCX - Profile
Distributions
- YTD Total Return 10.7%
- 3 Yr Annualized Total Return 0.7%
- 5 Yr Annualized Total Return 2.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.13%
- Dividend Yield 5.9%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameBlackRock Dynamic High Income Portfolio
-
Fund Family NameBlackRock-Advised Funds
-
Inception DateNov 03, 2014
-
Shares Outstanding4424157
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJustin Christofel
Fund Description
The Fund may invest up to 100% of its assets in equity securities and up to 100% of its assets in fixed-income securities. The Fund may also gain exposure to such equity securities and fixed-income securities by investing in BlackRock equity and/or fixed-income mutual funds (“underlying funds”) and affiliated and unaffiliated ETFs. The Fund may also invest up to 50% of its assets in structured notes that provide exposure to covered call options or other types of financial instruments.
With respect to the Fund’s equity investments, the Fund may invest in common stock and preferred stock. From time to time, the Fund may invest in shares of companies through initial public offerings (“IPOs”). The Fund may invest in equity securities of both U.S. or non-U.S. issuers without limit, including in securities of issuers located in emerging markets. The Fund’s investments in non-dollar denominated equity securities may be on a currency hedged or unhedged basis. The Fund may invest in securities of companies of any market capitalization. The Fund may also purchase securities convertible into common and preferred stock.
With respect to the Fund’s fixed-income investments, the Fund may invest in a portfolio of fixed-income securities, such as corporate bonds and notes, mortgage-backed securities (including commercial mortgage-backed securities and collateralized mortgage obligations), asset-backed securities (including collateralized debt obligations (“CDOs”) and collateralized loan obligations (“CLOs”)), convertible securities, preferred securities and government obligations. Convertible debt securities have features of both fixed-income and equity securities and often are issued by companies that have lower credit ratings but higher potential for long-term growth. The Fund may invest in fixed-income securities of both U.S. or non-U.S. issuers without limit, including in securities of issuers located in emerging markets. The Fund may also invest significantly in non-investment grade bonds (high yield, junk bonds or distressed securities), including non-investment grade bonds of issuers located in emerging markets, non-investment grade bank loans and non-dollar denominated bonds. The Fund’s investments in non-dollar denominated bonds may be on a currency hedged or unhedged basis. Non-investment grade bonds or bank loans acquired by the Fund will generally be in the lower categories of the major rating agencies at the time of purchase (BB or lower by S&P Global Ratings, a division of S&P Global Inc., or Ba or lower by Moody’s Investors Services, Inc.) or will be determined by the management team to be of similar quality. The average portfolio duration of the Fund will vary based on the management team’s forecast of interest rates and there are no limits regarding portfolio duration or average maturity.
The Fund intends to invest in certain income-producing instruments, including master limited partnerships (“MLPs”) (which are generally in energy-related industries), U.S. and non-U.S. real estate investment trusts (“REITs”), preferred stock, structured products, structured notes that provide exposure to covered call options or other types of financial instruments, floating rate securities (such as bank loans), dividend stocks and fixed-income securities. The Fund may also invest in closed-end investment companies.
The Fund may invest significantly in derivatives, including, but not limited to, interest rate swaps, total return swaps, credit default swaps, variance swaps, options (including covered call 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 underlying funds and ETFs in which the Fund invests may, to varying degrees, also invest in derivatives.
The Fund may invest in indexed and inverse floating rate securities.
The Fund may also incur leverage (within the limits of applicable law) for investment purposes. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
BDHCX - Performance
Return Ranking - Trailing
| Period | BDHCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 10.7% | -2.7% | 72.6% | 66.96% |
| 1 Yr | 11.0% | -1.8% | 67.6% | 66.96% |
| 3 Yr | 0.7%* | -5.1% | 20.7% | 91.14% |
| 5 Yr | 2.8%* | -3.8% | 21.1% | 96.60% |
| 10 Yr | 4.4%* | 0.7% | 13.6% | 86.93% |
* Annualized
Return Ranking - Calendar
| Period | BDHCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.9% | -12.2% | 23.9% | 77.88% |
| 2022 | -22.0% | -34.7% | 2.8% | 83.66% |
| 2021 | 3.4% | -11.9% | 18.1% | 61.67% |
| 2020 | -1.2% | -20.9% | 39.7% | 94.66% |
| 2019 | 13.1% | 0.8% | 25.7% | 59.83% |
Total Return Ranking - Trailing
| Period | BDHCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 10.7% | -2.7% | 72.6% | 66.96% |
| 1 Yr | 11.0% | -1.8% | 67.6% | 66.96% |
| 3 Yr | 0.7%* | -5.1% | 20.7% | 91.14% |
| 5 Yr | 2.8%* | -3.8% | 21.1% | 96.60% |
| 10 Yr | 4.4%* | 0.7% | 13.6% | 86.93% |
* Annualized
Total Return Ranking - Calendar
| Period | BDHCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.7% | -12.2% | 26.8% | 63.27% |
| 2022 | -18.2% | -29.0% | 10.9% | 93.85% |
| 2021 | 9.8% | -3.0% | 27.3% | 84.23% |
| 2020 | 3.8% | -19.5% | 40.6% | 93.20% |
| 2019 | 18.3% | 2.2% | 32.7% | 69.33% |
NAV & Total Return History
BDHCX - Holdings
Concentration Analysis
| BDHCX | Category Low | Category High | BDHCX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.09 B | 861 K | 235 B | 49.34% |
| Number of Holdings | 1737 | 2 | 16143 | 6.34% |
| Net Assets in Top 10 | 371 M | 859 K | 66.9 B | 55.31% |
| Weighting of Top 10 | 34.21% | 10.8% | 122.7% | 62.54% |
Top 10 Holdings
- BlackRock Liquidity Funds, T-Fund, Institutional Class 14.06%
- iShares Core Dividend Growth ETF 11.12%
- iShares International Dividend Growth ETF 2.91%
- BlackRock Floating Rate Income Portfolio, Class K Shares 1.57%
- Wells Fargo Bank NA 1.28%
- BNP Paribas Issuance BV 1.14%
- Barclays Bank plc 0.56%
- U.S. Treasury Inflation Linked Notes 0.54%
- U.S. Treasury Inflation Linked Bonds 0.53%
- Nomura America Finance LLC 0.51%
Asset Allocation
| Weighting | Return Low | Return High | BDHCX % Rank | |
|---|---|---|---|---|
| Bonds | 62.72% | 0.00% | 77.71% | 2.36% |
| Stocks | 18.93% | 0.00% | 100.10% | 93.81% |
| Cash | 14.23% | -7.92% | 100.00% | 3.24% |
| Convertible Bonds | 1.78% | 0.00% | 23.84% | 11.74% |
| Other | 0.49% | -42.55% | 113.97% | 24.34% |
| Preferred Stocks | 0.02% | 0.00% | 24.59% | 24.04% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BDHCX % Rank | |
|---|---|---|---|---|
| Real Estate | 18.72% | 0.00% | 65.01% | 3.13% |
| Technology | 14.59% | 0.00% | 44.21% | 82.56% |
| Healthcare | 13.81% | 0.00% | 29.35% | 54.84% |
| Financial Services | 11.86% | 0.00% | 38.77% | 87.03% |
| Industrials | 10.07% | 0.00% | 24.37% | 51.42% |
| Consumer Cyclical | 8.27% | 0.00% | 19.36% | 70.49% |
| Communication Services | 6.87% | 0.00% | 38.10% | 57.53% |
| Utilities | 5.83% | 0.00% | 99.55% | 12.37% |
| Consumer Defense | 4.67% | 0.00% | 15.14% | 84.20% |
| Energy | 3.53% | 0.00% | 85.65% | 76.45% |
| Basic Materials | 1.78% | 0.00% | 25.57% | 86.59% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BDHCX % Rank | |
|---|---|---|---|---|
| US | 13.86% | 0.00% | 100.10% | 92.63% |
| Non US | 5.07% | 0.00% | 42.80% | 11.80% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | BDHCX % Rank | |
|---|---|---|---|---|
| Corporate | 68.51% | 0.00% | 98.21% | 10.40% |
| Securitized | 17.27% | 0.00% | 92.13% | 49.48% |
| Cash & Equivalents | 14.23% | 0.00% | 99.92% | 3.24% |
| Government | 4.04% | 0.00% | 97.26% | 91.68% |
| Derivative | 0.35% | -4.58% | 41.29% | 4.13% |
| Municipal | 0.00% | 0.00% | 24.80% | 88.86% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | BDHCX % Rank | |
|---|---|---|---|---|
| US | 54.98% | 0.00% | 77.71% | 3.54% |
| Non US | 7.74% | 0.00% | 15.37% | 1.47% |
BDHCX - Expenses
Operational Fees
| BDHCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.87% | 0.03% | 27.98% | 11.73% |
| Management Fee | 0.60% | 0.00% | 1.83% | 73.21% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 94.74% |
| Administrative Fee | 0.06% | 0.01% | 0.83% | 39.67% |
Sales Fees
| BDHCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 5.00% | 78.02% |
Trading Fees
| BDHCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 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.
| BDHCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 180.00% | 0.83% | 343.00% | 95.74% |
BDHCX - Distributions
Dividend Yield Analysis
| BDHCX | Category Low | Category High | BDHCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.87% | 0.00% | 17.90% | 5.56% |
Dividend Distribution Analysis
| BDHCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| BDHCX | Category Low | Category High | BDHCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.13% | -2.34% | 13.92% | 2.25% |
Capital Gain Distribution Analysis
| BDHCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Monthly | Semi-Monthly |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 18, 2024 | $0.029 | CapitalGainShortTerm |
| Nov 29, 2024 | $0.042 | OrdinaryDividend |
| Oct 31, 2024 | $0.047 | OrdinaryDividend |
| Sep 30, 2024 | $0.051 | OrdinaryDividend |
| Aug 30, 2024 | $0.046 | OrdinaryDividend |
| Jul 31, 2024 | $0.043 | OrdinaryDividend |
| Apr 30, 2024 | $0.045 | OrdinaryDividend |
| Mar 31, 2024 | $0.048 | OrdinaryDividend |
| Feb 29, 2024 | $0.042 | OrdinaryDividend |
| Jan 31, 2024 | $0.038 | OrdinaryDividend |
| Dec 29, 2023 | $0.045 | OrdinaryDividend |
| Dec 20, 2023 | $0.007 | CapitalGainShortTerm |
| Nov 30, 2023 | $0.038 | OrdinaryDividend |
| Oct 31, 2023 | $0.039 | OrdinaryDividend |
| Sep 29, 2023 | $0.041 | OrdinaryDividend |
| Aug 31, 2023 | $0.042 | OrdinaryDividend |
| Jul 31, 2023 | $0.037 | OrdinaryDividend |
| Jun 30, 2023 | $0.002 | OrdinaryDividend |
| May 31, 2023 | $0.035 | OrdinaryDividend |
| Apr 28, 2023 | $0.036 | OrdinaryDividend |
| Mar 31, 2023 | $0.039 | OrdinaryDividend |
| Feb 28, 2023 | $0.032 | OrdinaryDividend |
| Jan 31, 2023 | $0.033 | OrdinaryDividend |
| Dec 30, 2022 | $0.002 | OrdinaryDividend |
| Nov 30, 2022 | $0.033 | OrdinaryDividend |
| Oct 31, 2022 | $0.034 | OrdinaryDividend |
| Sep 30, 2022 | $0.039 | OrdinaryDividend |
| Aug 31, 2022 | $0.035 | OrdinaryDividend |
| Jul 29, 2022 | $0.035 | OrdinaryDividend |
| Jun 30, 2022 | $0.037 | OrdinaryDividend |
| May 31, 2022 | $0.033 | OrdinaryDividend |
| Apr 29, 2022 | $0.033 | OrdinaryDividend |
| Mar 31, 2022 | $0.035 | OrdinaryDividend |
| Feb 28, 2022 | $0.029 | OrdinaryDividend |
| Jan 31, 2022 | $0.027 | OrdinaryDividend |
| Dec 31, 2021 | $0.036 | OrdinaryDividend |
| Dec 22, 2021 | $0.202 | OrdinaryDividend |
| Nov 30, 2021 | $0.027 | OrdinaryDividend |
| Oct 29, 2021 | $0.028 | OrdinaryDividend |
| Sep 30, 2021 | $0.046 | OrdinaryDividend |
| Aug 31, 2021 | $0.028 | OrdinaryDividend |
| Jun 30, 2021 | $0.038 | OrdinaryDividend |
| May 28, 2021 | $0.033 | OrdinaryDividend |
| Apr 30, 2021 | $0.032 | OrdinaryDividend |
| Mar 31, 2021 | $0.033 | OrdinaryDividend |
| Feb 26, 2021 | $0.030 | OrdinaryDividend |
| Jan 29, 2021 | $0.031 | OrdinaryDividend |
| Dec 31, 2020 | $0.037 | OrdinaryDividend |
| Nov 30, 2020 | $0.033 | OrdinaryDividend |
| Oct 30, 2020 | $0.033 | OrdinaryDividend |
| Sep 30, 2020 | $0.038 | OrdinaryDividend |
| Aug 31, 2020 | $0.031 | OrdinaryDividend |
| Jul 31, 2020 | $0.032 | OrdinaryDividend |
| Jun 30, 2020 | $0.042 | OrdinaryDividend |
| May 29, 2020 | $0.037 | OrdinaryDividend |
| Apr 30, 2020 | $0.030 | OrdinaryDividend |
| Mar 31, 2020 | $0.038 | OrdinaryDividend |
| Feb 28, 2020 | $0.032 | OrdinaryDividend |
| Jan 31, 2020 | $0.031 | OrdinaryDividend |
| Dec 31, 2019 | $0.036 | OrdinaryDividend |
| Nov 29, 2019 | $0.033 | OrdinaryDividend |
| Oct 31, 2019 | $0.038 | OrdinaryDividend |
| Sep 30, 2019 | $0.040 | OrdinaryDividend |
| Aug 30, 2019 | $0.040 | OrdinaryDividend |
| Jul 31, 2019 | $0.031 | OrdinaryDividend |
| Dec 22, 2017 | $0.024 | CapitalGainLongTerm |
| Dec 22, 2016 | $0.017 | CapitalGainShortTerm |
| Dec 23, 2015 | $0.031 | CapitalGainShortTerm |
| Dec 22, 2014 | $0.011 | CapitalGainShortTerm |
BDHCX - Fund Manager Analysis
Managers
Justin Christofel
Start Date
Tenure
Tenure Rank
Nov 03, 2014
7.58
7.6%
Justin Christofel, CFA, CAIA, Managing Director and portfolio manager, is a member of the BlackRock Multi-Asset Strategies group. Prior to the launch of the Income strategies, Mr. Christofel managed customized asset allocation portfolios for institutional investors. He also managed volatility control strategies, and a multi-asset real return portfolio. Mr. Christofel joined Blackrock in 2007 from Oliver Wyman, a consulting firm specializing in financial services. His projects spanned from retail banking to structured finance. Mr. Christofel graduated from Yale University with a BA degree, with honors, in economics and mathematics.
Michael Fredericks
Start Date
Tenure
Tenure Rank
Nov 03, 2014
7.58
7.6%
Michael Fredericks, Managing Director, is head of Income Investing for the Blackrock Multi-Asset Strategies group and lead portfolio manager for the Multi-Asset Income, Global Multi-Asset Income, Dynamic High Income, and Managed Income funds. Mr. Fredericks joined BlackRock in 2011 from JPMorgan Asset Management where he was an Executive Director and portfolio manager in the Global Multi-Asset Group (GMAG) responsible for retail asset allocation solutions. At JPMorgan he co-managed the JPMorgan Diversified Fund and the JPMorgan Income Builder Fund, and served on the GMAG New York investment committee. Previously he was an equity analyst responsible for global consumer discretionary stocks at Nicholas Applegate Capital Management. Mr. Fredericks holds a B.A. in Economics and History from the University of California, Berkeley and an M.P.I.A. from the Graduate School of International Relations and Pacific Studies at the University of California, San Diego. He regularly contributes to financial news media and has been featured in print and broadcast outlets including the Wall Street Journal, Financial Times, Associated Press, CNBC and Bloomberg TV, among others.
Alex Shingler
Start Date
Tenure
Tenure Rank
Mar 09, 2015
7.23
7.2%
Alex Shingler, CFA, Managing Director and portfolio manager, is a member of BlackRock's Multi-Asset Strategies group. Prior to his current role, Mr. Shingler served as a research analyst and portfolio manager within European and US Credit Strategies. Before joining BlackRock in 2009 in London, Mr. Shingler was Head of European Research at R3 Capital Partners and its predecessor. From 1999 to 2007, Mr. Shingler was with Seneca Capital Advisors, focusing on special situation equity and debt investments. He began his career as ananalyst with J.P. Morgan. Mr. Shingler earned an AB degree, summa cum laude, in philosophy from Princeton University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 34.51 | 6.39 | 2.41 |