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MDLOX BlackRock Global Allocation Inv A

  • Fund
  • MDLOX
  • Price as of: May 23, 2019
  • $18.45 - $0.07 - 0.38%
  • Category
  • Global Allocation

MDLOX - Profile

Vitals

  • YTD Return 6.6%
  • 3 Yr Annualized Return 1.1%
  • 5 Yr Annualized Return -3.2%
  • Net Assets $27.9 B
  • Holdings in Top 10 26.5%

52 WEEK LOW AND HIGH

$18.45
$16.84
$19.78

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.14%

SALES FEES

  • Front Load 5.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 154.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$100

Investment Themes

CATEGORY

Global Allocation
  • Fund Type Open End Mutual Fund
  • Investment Style World Allocation

Distributions

  • YTD Total Return 6.6%
  • 3 Yr Annualized Total Return 4.9%
  • 5 Yr Annualized Total Return 2.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.14%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name BlackRock Global Allocation Fund
  • Fund Family Name BlackRock
  • Inception Date Oct 21, 1994
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Dan Chamby

Fund Description

The BlackRock Global Allocation Fund Investor A Shares (MDLOX) is an actively managed, globally allocated fund designed to provide a high total return. The fund is unconstrained in its approach and can shift among assets classes (stocks, bonds, cash and derivatives) and location (U.S. and foreign) at will. The types of securities and markets invested in will be based on the changing market and economic trends. MDLOX has no allocation mandates and can be 100% invested in any asset class at will.

Expenses before sales are low. While designed as a core offering, the major shift of the fund’s asset classes makes it more of a satellite holding for investors. The fund is internally managed by BlackRock.

MDLOX - Performance

Return Ranking - Trailing

Period MDLOX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.6% -5.7% 11.3% 47.65%
1 Yr -5.8% -26.6% 5.3% 64.35%
3 Yr 1.1%* -3.1% 48.2% 58.36%
5 Yr -3.2%* -8.3% 21.0% 85.48%
10 Yr 1.7%* 0.2% 14.4% 85.42%

* Annualized


Return Ranking - Calendar

Period MDLOX Return Category Return Low Category Return High Rank in Category (%)
2018 -12.2% -32.0% 3.8% 60.57%
2017 8.4% -5.0% 26.2% 64.98%
2016 1.9% -9.5% 210.7% 67.51%
2015 -9.8% -21.2% -0.3% 80.44%
2014 -7.3% -21.3% 16.3% 84.12%

Total Return Ranking - Trailing

Period MDLOX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.6% -5.7% 11.3% 48.59%
1 Yr -0.9% -26.6% 6.1% 25.87%
3 Yr 4.9%* -3.1% 55.0% 27.44%
5 Yr 2.8%* -8.3% 30.6% 25.81%
10 Yr 6.1%* 0.5% 19.0% 61.11%

* Annualized


Total Return Ranking - Calendar

Period MDLOX Return Category Return Low Category Return High Rank in Category (%)
2018 -7.7% -32.0% 3.8% 30.28%
2017 13.3% -3.7% 29.6% 51.42%
2016 3.7% -9.5% 233.7% 62.78%
2015 -1.1% -20.2% 6.6% 16.72%
2014 2.0% -21.3% 17.1% 56.08%

NAV & Total Return History

MDLOX - Holdings

Concentration Analysis

MDLOX Category Low Category High MDLOX % Rank
Net Assets 27.9 B 8.8 M 104 B 7.52%
Number of Holdings 863 2 3633 23.51%
Net Assets in Top 10 7.6 B -69.1 M 17.8 B 8.15%
Weighting of Top 10 26.47% 0.0% 895.1% 68.97%

Top 10 Holdings

  1. United States Treasury Notes 2.88% 6.71%

  2. United States Treasury Notes 2.88% 6.27%

  3. United States Treasury Notes 3% 3.20%

  4. United States Treasury Notes 2.88% 2.20%

  5. United States Treasury Notes 0.62% 1.59%

  6. Alphabet Inc Class C 1.53%

  7. iShares Gold Trust 1.35%

  8. United States Treasury Notes 2.75% 1.27%

  9. United States Treasury Bills 1.20%

  10. Johnson & Johnson 1.15%


Asset Allocation

Weighting Return Low Return High MDLOX % Rank
Stocks
57.94% 0.00% 259.25% 47.02%
Bonds
33.27% -234.98% 117.30% 43.89%
Cash
6.45% -88.21% 98.17% 45.14%
Other
1.44% -1.05% 40.16% 34.17%
Preferred Stocks
0.54% 0.00% 17.45% 11.29%
Convertible Bonds
0.36% 0.00% 13.02% 21.00%

Stock Sector Breakdown

Weighting Return Low Return High MDLOX % Rank
Healthcare
8.39% -1.73% 20.86% 28.48%
Technology
8.19% -2.13% 44.06% 48.42%
Financial Services
6.02% 0.00% 38.98% 69.62%
Energy
5.93% 0.00% 17.54% 24.68%
Consumer Defense
5.92% -0.58% 18.16% 28.16%
Consumer Cyclical
5.16% -1.09% 25.91% 46.20%
Industrials
5.12% -0.35% 18.58% 55.38%
Communication Services
4.85% 0.00% 14.83% 14.56%
Basic Materials
3.36% -1.03% 15.55% 34.81%
Utilities
2.02% -0.84% 19.70% 46.52%
Real Estate
1.87% -0.42% 32.59% 52.85%

Stock Geographic Breakdown

Weighting Return Low Return High MDLOX % Rank
US
31.93% -9.56% 99.60% 33.54%
Non US
26.01% -23.73% 159.65% 59.87%

Bond Sector Breakdown

Weighting Return Low Return High MDLOX % Rank
Government
27.05% -242.10% 104.67% 24.14%
Corporate
7.09% 0.00% 58.86% 61.44%
Cash & Equivalents
6.46% -106.96% 98.17% 45.14%
Securitized
0.00% 0.00% 29.27% 77.74%
Municipal
0.00% 0.00% 5.08% 57.68%
Derivative
-0.06% -1.85% 16.22% 85.89%

Bond Geographic Breakdown

Weighting Return Low Return High MDLOX % Rank
US
26.36% -262.85% 104.67% 29.15%
Non US
6.91% -26.29% 59.99% 65.20%

MDLOX - Expenses

Operational Fees

MDLOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.14% 0.01% 11.20% 52.04%
Management Fee 0.75% 0.00% 1.56% 72.10%
12b-1 Fee 0.25% 0.00% 1.00% 29.52%
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

MDLOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.25% 0.15% 5.75% 63.24%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

MDLOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.11% 2.00% N/A

Turnover 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.

MDLOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 154.00% 0.00% 494.00% 92.38%

MDLOX - Distributions

Dividend Yield Analysis

MDLOX Category Low Category High MDLOX % Rank
Dividend Yield 0.00% 0.00% 1.13% 85.89%

Dividend Distribution Analysis

MDLOX Category Low Category High Category Mode
Dividend Distribution Frequency Semi-Annually Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

MDLOX Category Low Category High MDLOX % Rank
Net Income Ratio 1.14% -1.57% 5.11% 69.59%

Capital Gain Distribution Analysis

MDLOX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

MDLOX - Managers

Dan Chamby

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2003

15.34

15.3%

Dan Chamby, CFA, Managing Director and portfolio manager, is a member of the Global Allocation team within BlackRock’s Multi-Asset Strategies Group. Mr. Chamby’s service with the firm dates back to 1993, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. Mr. Chamby joined Merrill Lynch Investment Managers in 1993 as a Research Analyst for the Merrill Lynch Global Allocation Fund. He was named Associate Portfolio Manager of the Fund in 2003 and named Portfolio Manager of the Fund in 2011. Prior to joining Merrill Lynch Investment Managers, he worked for Fujitsu Ltd. in their Tokyo headquarters as a Research Analyst. He began his investment career at Mellon Bank in 1982 as an Asia/Pacific Credit Analyst, and later managed the International Money Market Desk. Mr. Chamby received his BA degree in political science and French literature from Duquesne University in 1982, and an MBA degree from the Wharton School, University of Pennsylvania in 1988. Mr. Chamby speaks Japanese and French, and is a CFA® Charterholder.


Russ Koesterich

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 2017

2.33

2.3%

Russ Koesterich, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team within BlackRock's Multi-Asset Strategies Group. Mr. Koesterich's service with BlackRock dates back to 2005, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. He joined the BlackRock Global Allocation team in 2016 as Head of Asset Allocation and was named a portfolio manager of the Fund in 2017. Previously, he was BlackRock's Global Chief Investment Strategist and Chairman of the Investment Committee for the Model Portfolio Solutions business, and formerly served as the Global Head of Investment Strategy for scientific active equities and as senior portfolio manager in the US Market Neutral Group. Prior to joining BGI, Mr. Koesterich was the Chief North American Strategist at State Street Bank and Trust. He began his investment career at Instinet Research Partners where he occupied several positions in research, including Director of Investment Strategy for both U.S. and European research, and Equity Analyst. He is a frequent contributor to financials news media and the author of three books, including his most recent “Portfolio Construction for Today’s Markets.“ Mr. Koesterich earned a BA in history from Brandeis University, a JD from Boston College and an MBA from Columbia University. He is a CFA Charterholder.


David Clayton

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 2017

2.33

2.3%

David Clayton, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team within BlackRock’s Multi-Asset Strategies Group. Mr. Clayton joined the BlackRock Global Allocation team in 2010 and was named a portfolio manager of the Fund in 2017.  Prior to his current role, he was a senior investor and investment group leader on the Fund, primarily responsible for coverage of the energy, real estate, autos, industrials, insurance, materials and utilities sectors. Prior to joining BlackRock, he was Of Counsel in the Financial Restructuring Group at Milbank, Tweed, Hadley & McCloy LLP. Previously he was a Managing Director and analyst with The Blackstone Group, responsible for distressed and special situations investments across multiple industries. Prior to joining Blackstone, Mr. Clayton spent six years at Merrill Lynch Investment Managers (MLIM), initially as an attorney specializing in corporate finance transactions and restructurings, and most recently as a Vice President and analyst in the Global High Yield Bond & Bank Debt Group. Mr. Clayton began his career as an attorney specializing in corporate finance transactions, first at Blake, Cassels & Graydon in Toronto and then at Milbank in New York. Mr. Clayton earned a BA degree, with honors, in economics from the University of Western Ontario in 1990 and MBA and LLB degrees from Dalhousie University in 1994. He is a CFA® Charterholder.


Rick Rieder

Manager

Start Date

Tenure

Tenure Rank

Apr 01, 2019

0.08

0.1%

Rick Rieder, Managing Director, is BlackRock's Global Chief Investment Officer of Fixed Income, and Co-head of BlackRock's Global Fixed Income platform, a member of BlackRock's Global Operating Committee and Chairman of the BlackRock firm-wide Investment Council. Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. He served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury. Mr. Rieder is currently a member of the Federal Reserve Bank of New York's Investment Advisory Committee on Financial Markets, and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013, and was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014. From 1987 to 2008, Mr. Rieder was with Lehman Brothers, most recently as head of the firm's Global Principal Strategies team, a global proprietary investment platform. He was also global head of the firm's credit businesses, Chairman of the Corporate Bond and Loan Capital Commitment Committee, and a member of the Board of Trustees for the corporate pension fund. Before joining Lehman Brothers, Mr. Rieder was a credit analyst at SunTrust Banks in Atlanta. Mr. Rieder earned a BBA degree in Finance from Emory University in 1983 and an MBA degree from The Wharton School of the University of Pennsylvania in 1987. He is a member of the board of Emory University, Emory's Business School, and the University's Investment Committee and is the Vice Chairman of the Finance Committee. Mr. Rieder is founder and chairman of the business school's BBA investment fund and community financial literacy program. Mr. Rieder serves as Chairman of the Board of North Star Academy's eleven Charter Schools in Newark, New Jersey and is the Founder and Chairman of the Board of Graduation Generation Public School Collaboration in Atlanta. He is a Trustee for the US Olympic Committee, and on the board of advisors for the Hospital for Special Surgery. He serves on the National Leadership Council of the Communities in Schools Educational Foundation and on the board of Big Brothers/Big Sisters of Newark and Essex County Mr. Rieder was honored at the Choose Success Awards ceremony in Atlanta in 2015 for his dedication to public education in Atlanta through CIS and Graduation Generation.


Tenure Analysis

Category Low

0.0

Category High

27.35

Category Average

6.05

Category Mode

6.33