Multi Asset

BDHIX

Dynamic High Income Fund

  • NAV as of Apr 25, 2025 $8.38
    52 WK: 7.93 - 8.94
  • 1 Day NAV Change as of Apr 25, 2025 0.02 (0.24%)
  • NAV Total Return as of Apr 25, 2025 YTD: -0.49%

Overview

About this Fund

1. Complement to your core income portfolio
2. Manages difficult to access income streams
3. Seeks high income from non-traditional sources

Investment Approach

Seeks to achieve high income by tactically managing a portfolio of non-traditional sources of income.

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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 6.37 3.63 8.50 4.72
Benchmark (%) 8.45 5.61 9.79 6.10
Morningstar Category Avg. (%) 5.41 4.30 10.14 6.33
Morningstar Ranking 205/707 491/682 532/628 435/490
Morningstar Quartile 2 3 4 4
Lipper Category Avg. (%) 5.04 3.71 9.41 5.21
Lipper Ranking 126/428 191/398 200/350 135/245
Lipper Quartile 2 2 3 3
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 0.37 -2.52 0.37 6.37 11.30 50.36 58.59
Benchmark (%) 3.77 -0.63 3.77 8.45 17.80 59.52 80.72
Morningstar Category Avg. (%) -0.31 -2.58 -0.31 5.41 13.47 62.05 84.72
Lipper Category Avg. (%) 0.08 -2.33 0.08 5.04 12.01 59.13 70.95
  2020 2021 2022 2023 2024
Total Return (%) 4.49 10.77 -17.37 14.31 10.81
Benchmark (%) 14.06 14.43 -16.40 18.12 8.15
Morningstar Category Avg. (%) 11.72 13.89 -13.64 13.78 11.39

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.
Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Apr 25, 2025
$1,142.0 M
Share Class launch date
Nov 03, 2014
Benchmark Index
50.00% MSCI World High Div / 50.00% BBG HY 2% Issuer Capped
Morningstar Category
Moderate Allocation
CUSIP
09257E795
Open to New Investors
Yes
Size of Class (Millions)
as of Apr 25, 2025
$845.8 M
Asset Class
Multi Asset
Distribution Frequency
Monthly
Lipper Classification
Flexible Portfolio Funds
Max Offer Price
as of Apr 25, 2025
$8.38
Turnover Percent in the Annual Report
as of Jul 31, 2024
109%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Mar 31, 2025
1,606
Modified Duration
as of Mar 31, 2025
1.68 yrs
Fund Standard Deviation (3y)
as of Feb 29, 2024
11.95
Unsubsidized 30-Day SEC Yield
as of Mar 31, 2025
7.60%
Weighted Avg Maturity
as of Mar 31, 2025
1.74 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Jun 30, 2022
-13.13%
30 Day SEC Yield
as of Mar 31, 2025
7.78%
R-Squared (3y)
as of Feb 29, 2024
96.67
Beta (3y)
as of Feb 29, 2024
0.86
Effective Duration
as of Mar 31, 2025
1.44 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
10.93%

For the latest month-end Distribution Yield, click here.


This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.88%
Net Expense Ratio 0.68%

Net Expense Ratio excluding Investment Related Expenses is 0.65%

  • Acquired Fund Fees and Expenses 0.03%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective May 03, 2024)
Analyst-Driven % as of May 03, 2024
100.00
Data Coverage % as of May 03, 2024
100.00

Lipper Leader

 
 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Mar 31, 2025 out of 394, 4,310, 398, 176 and 398 Funds, respectively in Lipper's Flexible Portfolio Funds classification.

Holdings

Holdings

as of Mar 31, 2025
Name Weight (%)
ISHARES INTERNATIONAL DIVIDEND GRO 1.74
ISHARES CORE DIVIDEND GROWTH ETF 1.55
MICROSOFT CORP - ELN 1.26
APPLE INC - ELN 1.24
AMAZON COM INC - ELN 1.14
Name Weight (%)
NVIDIA CORP - ELN 0.99
META PLATFORMS INC CLASS A - ELN 0.96
ALPHABET INC CLASS A - ELN 0.84
MICROSOFT CORP 0.53
ELI LILLY - ELN 0.42
as of Mar 31, 2025
Name Weight (%)
ISHARES 1-5 YR INV GRD CORP BD ETF 1.92
ISHARES BROAD USD HIGH YIELD CORPO 1.00
NEUB_19-34A BR 144A 0.35
BSP_20-21A A1R 144A 0.31
PLMRS_21-4A D 144A 0.27
Name Weight (%)
CIFC_21-1AR CR 144A 0.27
PLMRS_21-4 A 144A 0.27
CIFC_21_4AR CR 144A 0.26
DCLO_23-3AR A1R 144A 0.22
DCLO_23-3AR A2R 144A 0.22
Name Market Value Weight (%) Shares
Detailed Holdings and Analytics
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Exposure Breakdowns

Exposure Breakdowns

Sorry, countries/regions are not available at this time.
as of Mar 31, 2025

% of Market Value

Type Fund Benchmark Net
as of Mar 31, 2025

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Mar 31, 2025

% of Market Value

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Justin Christofel, CFA
Justin Christofel, CFA
Co-Head of Income Investing, Multi-Asset Strategies & Solutions

   

Read More

Justin Christofel, CFA, CAIA, Managing Director, is co-head of Income Investing for BlackRock’s Multi-Asset Strategies & Solutions group. He is a portfolio manager for a number of income strategies including the Multi-Asset Income Fund, Dynamic High Income Fund, Managed Income Fund, and Multi-Asset Income model portfolios.

 

Justin’s service with the firm dates back to 2007, where prior to the launch of the Income strategies, he managed customized asset allocation portfolios for institutional investors.

 

Justin earned his BA, with honors, in economics and mathematics from Yale University.

 

Justin’s interests include exploring the intersection of macroeconomic drivers and asset class returns and constructing portfolios that offer clients resilience in a variety of market regimes. Outside of work, he enjoys nearly any activity that allows him to be active, particularly tennis.

 

Multi-Asset Strategies & Solutions (MASS) meets client demand for active asset allocation strategies and whole portfolio solutions through funds, model portfolios, and more. MASS draws on the toolkit of BlackRock's index, factor, and alpha-seeking capabilities to deliver cutting-edge insights and investment outcomes.

Alex Shingler, CFA
Alex Shingler, CFA
Co-Head of Income Investing, Multi-Asset Strategies & Solutions

     

Read More

Alex Shingler, CFA, Managing Director, is co-head of Income Investing for BlackRock’s Multi-Asset Strategies & Solutions group. He is a portfolio manager for a number of income strategies including the Multi-Asset Income Fund, Dynamic High Income Fund, Managed Income Fund, and Multi-Asset Income model portfolios.

 

Alex’s service with the firm dates back to 2009, where he joined as a portfolio manager and research analyst within BlackRock’s European and US credit businesses. Alex has spent his career investing across equity and fixed income markets and before joining BlackRock in London, Alex focused on special situation equity investments.

 

Alex earned his AB, summa cum laude, in philosophy from Princeton University.

 

Alex grew up in Montreal, Canada, and resides in the New York City area with his wife and daughter.

Portfolio Manager

Literature

Literature

 

Funds related to BDHIX

Funds related to BDHIX

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PFF
iShares Preferred and Income Securities ETF
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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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USR-9694