Name
As of 11/04/2024Price
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
8.5%
1 yr return
7.2%
3 Yr Avg Return
4.1%
5 Yr Avg Return
9.4%
Net Assets
$643 M
Holdings in Top 10
64.8%
52 WEEK LOW AND HIGH
$8.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.87%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 58.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/04/2024Price
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
BICSX - Profile
Distributions
- YTD Total Return 8.5%
- 3 Yr Annualized Total Return 4.1%
- 5 Yr Annualized Total Return 9.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.90%
- Dividend Yield 1.5%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameBlackRock Commodity Strategies Fund
-
Fund Family NameBlackRock-advised Funds
-
Inception DateOct 03, 2011
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Shimell
Fund Description
The Fund utilizes two strategies and under normal circumstances expects to invest approximately 50% of its total assets in each strategy; provided, however, that from time to time, Fund management may alter the weightings if it deems it prudent to do so based on market conditions, trends or movements or other similar factors.
One strategy focuses on investments in commodity-linked derivatives. To meet coverage and collateral requirements associated with these derivative investments, and to invest excess cash, the Fund holds a portion of its portfolio in investment-grade short-term fixed-income securities. The other strategy focuses on equity investments in commodity-related companies, including, but not limited to, companies operating in the mining, energy and agricultural sectors. The Fund invests in equity securities of such companies in order to complement the commodity exposures achieved through investments in commodity-linked derivatives. Taken together, these two strategies offer broad exposure to global commodities market trends across asset classes, industries, sectors, and regions.
Commodities are assets that have tangible properties, such as oil and other energy products, metals, and agricultural products. Commodity-linked derivative instruments include, but are not limited to, commodity-linked notes, swap agreements, commodity options, futures and options on futures, that provide exposure to the investment returns of the commodities markets, without investing directly in physical commodities.
Commodity-related companies include, but are not limited to, companies in commodities, natural resources and energy businesses and in associated businesses and companies that provide services or have exposure to such businesses (collectively, the “Commodities Sector”). These companies include, without limitation, companies engaged in the exploration, ownership, production, refinement, processing, transportation, distribution or marketing of commodities, companies that use commodities extensively in their products and companies that provide technology and services to commodity-related companies. This includes companies that are engaged in businesses such as integrated oil, oil and gas exploration and production, energy services and technology, chemicals and oil products, coal and other consumable fuel, gold and precious metals, metals and minerals, forest products, agricultural chemicals and services, farm land, alternative energy sources, environmental services and agricultural products (including crop growers, owners of plantations, and companies that produce and process foods), as well as related transportation companies, equipment manufacturers, service providers and engineering, procurement and construction (“EPC”) companies.
The Fund may make investments directly or through investments in the Subsidiary, a wholly-owned subsidiary of the Fund formed in the Cayman Islands. The Subsidiary is managed by BlackRock and has the same investment objective as the Fund. The assets of the Subsidiary are subject to the same investment restrictions and limitations, and follow the same compliance policies and procedures, as the Fund, except that the Subsidiary does not invest in equity securities of commodity-related companies, and may invest without limitation in commodity-linked derivative instruments. The Fund will not invest more than 25% of its total assets (measured at the time of investment) in the Subsidiary.
The Fund manages the term structure of its commodity-linked derivative positions and has the flexibility to gain exposure to futures maturities which differ from those in the Fund’s benchmark, the Bloomberg Commodity Index Total ReturnSM. This is done in an effort to achieve efficient investment results and minimize any adverse effects on returns caused by commodity term structures.
Equity securities held by the Fund may include common stocks, preferred stocks, warrants, depositary receipts, and other instruments whose price is linked to the value of common stock, and equity interests in master limited partnerships. In addition, the Fund may also invest in fixed-income instruments (of any credit quality and any duration) of commodity-related companies. The Fund may also purchase convertible securities.
There are no restrictions on investment in terms of geography or market capitalization. As such, the Fund may invest in both U.S. and non-U.S. companies, including companies located in emerging markets, and in securities denominated in both U.S. dollars and foreign currencies.
BICSX - Performance
Return Ranking - Trailing
| Period | BICSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.5% | -38.5% | 35.8% | 18.60% |
| 1 Yr | 7.2% | -57.0% | 39.4% | 15.50% |
| 3 Yr | 4.1%* | -45.3% | 275.6% | 47.24% |
| 5 Yr | 9.4%* | -32.5% | 132.4% | 36.29% |
| 10 Yr | 3.1%* | -28.3% | 47.3% | 31.46% |
* Annualized
Return Ranking - Calendar
| Period | BICSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -12.4% | -64.0% | 30.1% | 82.17% |
| 2022 | 2.1% | -40.8% | 2475.6% | 37.50% |
| 2021 | 19.1% | -23.3% | 106.7% | 25.98% |
| 2020 | 5.9% | -71.9% | 295.5% | 30.65% |
| 2019 | 9.3% | -31.8% | 53.9% | 34.15% |
Total Return Ranking - Trailing
| Period | BICSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.5% | -38.5% | 35.8% | 18.60% |
| 1 Yr | 7.2% | -57.0% | 39.4% | 15.50% |
| 3 Yr | 4.1%* | -45.3% | 275.6% | 47.24% |
| 5 Yr | 9.4%* | -32.5% | 132.4% | 36.29% |
| 10 Yr | 3.1%* | -28.3% | 47.3% | 31.46% |
* Annualized
Total Return Ranking - Calendar
| Period | BICSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -4.3% | -64.0% | 41.1% | 37.21% |
| 2022 | 12.1% | -15.1% | 5648.8% | 63.28% |
| 2021 | 22.4% | -23.3% | 188.1% | 73.23% |
| 2020 | 6.8% | -67.8% | 296.1% | 31.45% |
| 2019 | 11.6% | -31.8% | 53.9% | 40.65% |
NAV & Total Return History
BICSX - Holdings
Concentration Analysis
| BICSX | Category Low | Category High | BICSX % Rank | |
|---|---|---|---|---|
| Net Assets | 643 M | 2.34 M | 62.8 B | 44.94% |
| Number of Holdings | 199 | 1 | 1009 | 30.23% |
| Net Assets in Top 10 | 416 M | 2.66 M | 63.2 B | 51.16% |
| Weighting of Top 10 | 64.76% | 17.2% | 169.5% | 56.80% |
Top 10 Holdings
- United States Treasury Bill 48.89%
- EXXON MOBIL CORP 3.57%
- Agnico Eagle Mines Limited/Mines Agnico Eagle Limitee 1.95%
- Shell PLC 1.87%
- Newmont Corp 1.67%
- Barrick Gold Corp 1.66%
- Wheaton Precious Metals Corp 1.65%
- TotalEnergies SE 1.23%
- Kinross Gold Corp 1.22%
- CHEVRON CORP 1.06%
Asset Allocation
| Weighting | Return Low | Return High | BICSX % Rank | |
|---|---|---|---|---|
| Stocks | 49.72% | 0.00% | 49.72% | 1.55% |
| Bonds | 48.89% | 0.00% | 127.91% | 38.76% |
| Cash | 2.83% | 0.00% | 101.92% | 81.10% |
| Preferred Stocks | 0.00% | 0.00% | 0.08% | 92.13% |
| Convertible Bonds | 0.00% | 0.00% | 3.89% | 93.65% |
| Other | -1.44% | -7.17% | 100.19% | 67.72% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BICSX % Rank | |
|---|---|---|---|---|
| Basic Materials | 47.41% | 0.00% | 47.41% | 15.38% |
| Energy | 33.64% | 0.00% | 33.64% | 15.38% |
| Consumer Defense | 12.04% | 0.00% | 12.04% | 15.38% |
| Industrials | 3.58% | 0.00% | 23.28% | 76.92% |
| Consumer Cyclical | 1.51% | 0.00% | 3.41% | 38.46% |
| Healthcare | 1.09% | 0.00% | 1.73% | 38.46% |
| Financial Services | 0.72% | 0.00% | 13.67% | 38.46% |
| Utilities | 0.00% | 0.00% | 27.00% | 84.62% |
| Technology | 0.00% | 0.00% | 2.77% | 84.62% |
| Real Estate | 0.00% | 0.00% | 13.82% | 84.62% |
| Communication Services | 0.00% | 0.00% | 100.00% | 84.62% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BICSX % Rank | |
|---|---|---|---|---|
| Non US | 28.52% | 0.00% | 28.52% | 1.57% |
| US | 21.20% | 0.00% | 32.22% | 7.09% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | BICSX % Rank | |
|---|---|---|---|---|
| Government | 46.73% | 0.00% | 100.00% | 23.89% |
| Cash & Equivalents | 1.38% | 0.00% | 100.00% | 85.96% |
| Securitized | 0.00% | 0.00% | 19.62% | 92.92% |
| Corporate | 0.00% | 0.00% | 42.72% | 94.69% |
| Municipal | 0.00% | 0.00% | 1.45% | 91.15% |
| Derivative | -1.44% | -7.17% | 100.19% | 56.14% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | BICSX % Rank | |
|---|---|---|---|---|
| US | 48.89% | 0.00% | 116.12% | 39.37% |
| Non US | 0.00% | 0.00% | 12.98% | 92.13% |
BICSX - Expenses
Operational Fees
| BICSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.87% | 0.21% | 5.23% | 65.00% |
| Management Fee | 0.62% | 0.00% | 1.75% | 44.30% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.06% | 0.05% | 0.45% | 14.29% |
Sales Fees
| BICSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 4.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| BICSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | 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.
| BICSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 58.00% | 0.00% | 162.00% | 68.54% |
BICSX - Distributions
Dividend Yield Analysis
| BICSX | Category Low | Category High | BICSX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.45% | 0.00% | 19.94% | 4.43% |
Dividend Distribution Analysis
| BICSX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Monthly | Quarterly |
Net Income Ratio Analysis
| BICSX | Category Low | Category High | BICSX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.90% | -55.71% | 52.26% | 15.87% |
Capital Gain Distribution Analysis
| BICSX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jul 18, 2024 | $0.127 | OrdinaryDividend |
| Dec 07, 2023 | $0.192 | OrdinaryDividend |
| Jul 20, 2023 | $0.581 | OrdinaryDividend |
| Dec 08, 2022 | $0.155 | OrdinaryDividend |
| Jul 14, 2022 | $0.697 | OrdinaryDividend |
| Dec 07, 2021 | $0.057 | OrdinaryDividend |
| Jul 15, 2021 | $0.190 | OrdinaryDividend |
| Dec 07, 2020 | $0.036 | OrdinaryDividend |
| Jul 16, 2020 | $0.026 | OrdinaryDividend |
| Dec 05, 2019 | $0.149 | OrdinaryDividend |
| Dec 06, 2018 | $0.142 | OrdinaryDividend |
| Dec 11, 2017 | $0.052 | OrdinaryDividend |
| Dec 13, 2016 | $0.070 | OrdinaryDividend |
| Dec 17, 2014 | $0.002 | OrdinaryDividend |
| Dec 26, 2012 | $0.002 | OrdinaryDividend |
| Dec 21, 2011 | $0.006 | OrdinaryDividend |
| Dec 21, 2011 | $0.272 | CapitalGainShortTerm |
BICSX - Fund Manager Analysis
Managers
Robert Shimell
Start Date
Tenure
Tenure Rank
Oct 03, 2011
10.67
10.7%
Robert Shimell, Director and investment strategist, is a member of BlackRock’s Institutional Index Equity team. Mr. Shimell’s service with the BlackRock Investment Management, LLC dates back to 2004, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. At BGI, he was an investment strategist in the Institutional Index Equity team. Prior to joining BGI, he was a business analyst and project manager at Invesco UK Limited. Mr. Shimell earned a degree, with first class honours, in construction and project management from University College London in 1999 and an MSc degree, with distinction, in international securities, investment and banking from the ICMA Business School for Financial Markets in 2004.
Hannah Johnson
Start Date
Tenure
Tenure Rank
Oct 01, 2016
5.67
5.7%
Vice President of BlackRock, Inc. since 2015; Associate at BlackRock, Inc. from 2012 to 2015; Analyst at BlackRock, Inc. from 2009 to 2012.
Alastair Bishop
Start Date
Tenure
Tenure Rank
Apr 01, 2017
5.17
5.2%
Alastair Bishop, Managing Director, is a member of the Natural Resources team within Fundamental Equity division of BlackRock’s Active Equity Group. Mr. Bishop was a senior research analyst at Piper Jaffray, where he was responsible for covering the Clean Technology industry. Prior to joining Piper Jaffray in 2009, he covered the Renewable Energy and Industrial sectors for 8 years at Dresdner Kleinwort. Mr. Bishop began his career in 2001 at Dresdner Kleinwort Investment Bank. Mr. Bishop earned a BSc degree in economics from the University of Nottingham in 2001.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.33 | 17.03 | 6.11 | 11.51 |