Share classes and loads

If you choose to buy Investor A shares, generally a sales charge is paid at the time of purchase. Depending on the amount of the purchase, you may qualify for a reduction in the sales charge. You may also qualify for a complete waiver of the sales charge on Investor A shares or of the contingent deferred sales charge on Investor C shares under certain circumstances.

Blackrock 250K Nav

*$250K NAV Breakpoints are not applicable to CollegeAdvantage 529. 

Investor A Shares—Purchased with varying initial sales charges, depending on the fund and investment amount, and provide up-front commissions and ongoing trails that begin immediately.

 

Applicable to Max. sales charge (%) Breakpoint schedule Sales charge (%) Dealer reallowance1,2 (%) Trail (%)
Event Driven Equity Fund 5.25 Less than $25,000 5.25 5.00 0.25
$25,000 but less than $50,000 4.75 4.50
$50,000 but less than $100,000 4.00 3.75
$100,000 but less than $250,000 3.00 2.75
$250,000+ NAV3 4
All other Equity 5.25 Less than $25,000 5.25 5.00 0.25
$25,000 but less than $50,000 4.75 4.50
$50,000 but less than $100,000 4.00 3.75
$100,000 but less than $250,000 3.00 2.75
$250,000 but less than $500,000 2.50 2.25
$500,000 but less than $750,000 2.00 1.75
$750,000 but less than $1,000,000 1.50 1.25
$1,000,000+ NAV3 4

The Investor A front-end sales charges can be reduced or eliminated through one or a combination of the following: the Right of Accumulation, a Letter of Intent, the Reinstatement Privilege, quantity discounts or an applicable waiver of the sales charge. If you redeem Investor A or Institutional shares and within 90 days buy new Investor A Shares of the same or another fund, you will not pay a sales charge on the new purchase amount. The amount eligible for this "Reinstatement Privilege" may not exceed the amount of your redemption proceeds and is only allowed once per year.
See the funds' prospectuses for more information.
1 The Distributor may pay a dealer reallowance or placement fee to the dealer as shown on NAV purchases of Investor A Shares of $1 million or more. However, there is a CDSC (contingent deferred sales charge) of up to 1.00% of the offering price or the NAV of the shares on the redemption date (whichever is less) for shares redeemed within 18 months of purchase.
2 Listed are the front-end sales loads reallowed to dealers as a percentage of the offering price of certain of the funds’ Non Money Market Investor A Shares. In cases where the Distributor acts as a dealer, it will not receive a placement fee on NAV purchases of more than $1 million of Investor A Shares. The dealer reallowance indicated will apply up to the indicated breakpoint (so that, for example, a sale of $4 million worth of Investor A Shares in an equity fund will result in a placement fee of 1.00% on the first $3 million and 0.50% on the final $1 million).
3 NAV purchases on most equity and multi-asset funds will be subject to a 1.00% charge if liquidated within 18 months of purchase.
4The following reallowance/placement fee to dealers will apply to most Multi-Asset Funds: 1.00% on $1,000,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above; BlackRock Balanced Capital / BlackRock Multi-Asset Income / BlackRock Dynamic High Income: 0.75% on $250,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above; BlackRock Tactical Opportunities: 0.75% on $1,000,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above; BlackRock Global Allocation: 1.00% on $250,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above; BlackRock Managed Income: 0.50% on $250,000 to $2,999,999, 0.25% on $3,000,000 to $14,999,999, 0.15% on $15,000,000 and above. If a dealer waives its right to receive a dealer reallowance, the fund may, at its own discretion, waive the CDSC related to NAV purchases of Investor A Shares.

Investor A Shares—Purchased with varying initial sales charges, depending on the fund and investment amount, and provide up-front commissions and ongoing trails that begin immediately.

 

Applicable to Max. sales charge (%) Breakpoint schedule Sales charge (%) Dealer reallowance 5,6(%) Trail (%)
Taxable Fixed Income Funds
(Please see exceptions below for Total Return, Floating Rate Income, Income Fund*, Strategic Income Opportunities, Low Duration, Global Long/Short Credit Fund, and Systematic Multi-Strategy Fund)		 4.00 Less than $25,000 4.00 3.75 0.25
$25,000 but less than $100,000 3.75 3.50
$100,000 but less than $250,000 3.50 3.25
$250,000 but less than $500,000 2.50 2.25
$500,000 but less than $750,000 2.00 1.75
$750,000 but less than $1,000,000 1.50 1.25
$1,000,000+ NAV7 9
Total Return Fund 4.00 Less than $25,000 4.00 3.75 0.25
$25,000 but less than $100,000 3.75 3.50
$100,000 but less than $250,000 3.50 3.25
$250,000+ NAV7 9
Global Long/Short Credit Fund Less than $50,000 4.00 3.75 0.25
4.00 $50,000 but less than $100,000 3.75 3.50
$100,000 but less than $250,000 3.50 3.25
$250,000+ NAV7 9
Systematic Multi-Strategy Fund Less than $50,000 4.00% 3.75 0.25
$50,000 but less than $100,000 3.75% 3.50
$100,000 but less than $250,000 3.50% 3.25
4.00 $250,000 but less than $500,000 2.50% 2.25
$500,000 but less than $750,000 2.00% 1.75
$750,000 but less than $1,000,000 1.50% 1.25
$1,000,000+ NAV7 9
Floating Rate Income Fund 2.50 Less than $50,000 2.50 2.25 0.25
$100,000 but less than $250,000 1.75 1.50
$250,000 but less than $500,000 1.25 1.00
$500,000+ NAV7 9
Strategic Income Opportunities Fund 4.00 Less than $25,000 4.00 3.75 0.25
$25,000 but less than $100,000 3.75 3.50
$100,000 but less than $250,000 3.50 3.25
$250,000 but less than $500,000 2.50 2.25
$500,000 and over2 NAV7 9
Low Duration Fund 2.25 Less than $50,000 2.25 2.00 0.25
$50,000 but less than $100,000 2.00 1.75
$100,000 but less than $250,000 1.75 1.50
$250,000 but less than $500,000 1.50 1.25
$500,000+ NAV7 9
Tax-Free Fixed Income Funds (Please see exception below for Short-Term Municipal) 4.25 Less than $100,000 4.25 4.00 0.25
$100,000 but less than $250,000 3.25 3.00
$250,000+ NAV7 9
Short-Term Municipal 3.00 Less than $50,000 3.00 2.75 0.25
$50,000 but less than $100,000 2.75 2.50
$100,000 but less than $250,000 2.50 2.25
$250,000+ NAV8 9

*Effective May 1, 2020, the fund was renamed to BlackRock Income Fund.

The Investor A front-end sales charges can be reduced or eliminated through one or a combination of the following: the Right of Accumulation, a Letter of Intent, the Reinstatement Privilege, quantity discounts or an applicable waiver of the sales charge. If you redeem Investor A or Institutional shares and within 90 days buy new Investor A shares of the same or another fund, you will not pay a sales charge on the new purchase amount. The amount eligible for this "Reinstatement Privilege" may not exceed the amount of your redemption proceeds and is only allowed once per year. See the funds' prospectuses for more information.
5 The Distributor may pay a dealer reallowance or placement fee to the dealer as shown on NAV purchases of Investor A shares. However, there is a CDSC of up to 1.00% of the offering price or the NAV of the shares on the redemption date (whichever is less) for shares redeemed within 18 months of purchase or lower (Short-Term Municipal Fund).
6 Listed are the front-end sales loads reallowed to dealers as a percentage of the offering price of certain of the funds’ Non-Money Market Investor A shares. In cases where the Distributor acts as a dealer, it will not receive a placement fee on NAV purchases of Investor A shares. The dealer reallowance indicated will apply up to the indicated breakpoint (so that, for example, a sale of $4 million worth of Investor A shares in a fixed income fund will result in a dealer reallowance of 0.50% on the first $3 million and 0.25% on the final $1 million). If a dealer waives its right to receive a dealer reallowance, the fund may, at its own discretion, waive the CDSC related to NAV purchases of Investor A Shares.
7 NAV purchases at specified breakpoints on BlackRock fixed income funds may be subject to a CDSC if liquidated within 18 months of purchase as follows: most taxable fixed income funds: 0.75%; BlackRock GNMA, Systematic ESG Bond, U.S. Government Bond: 0.50% ; BlackRock Inflation Protected Bond: 0.15%; all tax-free fixed income funds, BlackRock Global Long/Short Credit and BlackRock Emerging Markets Flexible Dynamic Bond: 1.00%.
8 NAV purchases at specified breakpoints on BlackRock fixed income funds may be subject to a CDSC if liquidated within 9 months of purchase as follows: Short-Term Municipal: 0.25%.
9 The following dealer reallowance will apply to most taxable fixed income funds (see below for exceptions). 0.75% on $1,000,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, and 0.25% on $15,000,000 and above. Exceptions: GNMA, Systematic ESG Bond, and U.S. Government Bond: 0.50% on $1,000,000 to $2,999,999, 0.25% on $3,000,000 to $14,999,999, 0.15% on $15,000,000+; Global Long/Short Credit Fund: 1.00% on $250,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000+; Inflation Protected Bond: 0.15% on $1,000,000 to $2,999,999, 0.10% on $3,000,000 to $14,999,999, 0.05% on $15,000,000+; Emerging Markets Flexible Dynamic Bond: 1.00% on $1,000,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000+; Floating Rate Income, Low Duration, Income Fund and Strategic Income Opportunities: 0.75% on $500,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000+; Tax-free fixed income funds (except for Short-Term Municipal): 1.00% on $250,000 to $3,999,999, 0.50% on $4,000,000 to $9,999,999, 0.25% on $10,000,000+; Short-Term Municipal: 0.25% on $250,000+; Total Return Fund: 0.75% on $250,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000+.
* Effective January 16, 2018, BlackRock Total Return (Investor A) shares sold in amounts of $250,000 or more will be sold at net asset value, subject to a 0.75% CDSC if those shares are redeemed within 18 months of purchase.

Investor C Shares—Purchased with no initial sales charge to your clients but have higher ongoing fees. These fees are paid over the life of the investment and you receive 1.00% immediately and ongoing trails that begin in the 13th month, subject to certain broker/dealer payout policies. Only purchases up to $500,000 per trade are permitted in Investor C shares. May be lower on funds that have set a lower breakpoint for purchasing Investor A shares without a front-end sales charge.

Investor C shares automatically convert to Investor A shares approximately eight years after the date of purchase. It is the financial intermediary’s responsibility to ensure that the shareholder is credited with the proper holding period. As of November 23, 2020 (the "Effective Date"), certain financial intermediaries, may not have been tracking such holding periods and therefore may not be able to process such conversions. In such instances, the automatic conversion of Investor C shares to Investor A shares will occur approximately eight years after the Effective Date.

 

Applicable to Max. back-end sales charge (%) CDSC (%) Trail (%)
All Equity, Multi-Asset and Fixed Income Funds* 1.00 1.00 1.00

* Trail for BlackRock Summit Cash Reserves is 0%.
Since all Investor C Shares of Summit must be purchased in an exchange transaction for Investor C Shares of a non-money market fund advised by BlackRock or its affiliates, a contingent deferred sales charge (“CDSC”) of 1.00% may apply to certain redemptions of Summit’s Investor C Shares. You could lose money by investing in Summit. Although Summit seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in Summit is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Summit’s sponsor has no legal obligation to provide financial support to Summit, and you should not expect that the sponsor will provide financial support to Summit at any time.

Class A Units—Purchased with varying initial sales charges, depending on the fund and investment amount, and provide up-front commissions and ongoing trails that begin immediately.

 

Fee schedule and breakpoints


All Investment Options (except BlackRock Money Market Option)1

 

Investment Amount

Initial Sales Charge
(as a percentage of offering price)2

Initial Sales Charge
(as a percentage of net amount invested) 2

Less than $25,000

3.00%

3.09%

$25,000 or more, but
less than $100,000

2.75%

2.83%

$100,000 or more, but
less than $250,000

2.50%

2.56%

$250,000 or more, but
less than $500,000

2.25%

2.30%

$500,000 or more, but
less than $750,000

2.00%

2.04%

$750,000 or more, but
less than $1 million

1.50%

1.52%

$1 million or more

None

None

Class C—Purchased with no initial sales charge to your clients but have higher ongoing fees. These fees are paid over the life of the investment and you receive 1.00% immediately and an ongoing trail of 1.00% that begins in the 13th month, subject to certain broker/dealer payout policies. CDSC of 1.00% is applied if withdrawal is made within one year of purchase.*

There is no deferred sales charge for the BlackRock Money Market Option; however, if you transfer assets from other Investment Options to the BlackRock Money Market Option and then withdraw from the BlackRock Money Market Option within the one-year holdings period that applied to the original Investment Option, the applicable contingent deferred sales charge that applied to the original Investment Option will continue to apply.

Class I- Purchased with no initial sales charge, no CDSC charge applied and no ongoing sales charge. Only available to clients of certain intermediaries as defined in the latest program disclosure document which can be found here.

Investor A Shares—Purchased with varying initial sales charges, depending on the fund and investment amount, and provide up-front commissions and ongoing trails that begin immediately.

 

Applicable to Max. sales charge (%) Breakpoint schedule Sales charge (%) Dealer reallowance1,2(%) Trail (%)
Global Allocation Fund 5.25 Less than $25,000 5.25 5.00 0.25
Multi-Asset Income Fund $25,000 but less than $50,000 4.75 4.50
Dynamic High Income Fund $50,000 but less than $100,000 4.00 3.75
Balanced Capital Fund   $100,000 but less than $250,000 3.00 2.75  
  $250,000+ NAV3 4  
Multi-Asset Funds 5.25 Less than $25,000 5.25 5.00 0.25
    $25,000 but less than $50,000 4.75 4.50  
    $50,000 but less than $100,000 4.00 3.75  
  $100,000 but less than $250,000 3.00 2.75  
    $250,000 but less than $500,000 2.50 2.25  
    $500,000 but less than $750,000 2.00 1.75  
    $750,000 but less than $1,000,000 1.50 1.25  
    $1,000,000+ NAV3 4  
Managed Income Fund 4.00 Less than $25,000 4.00 3.75 0.25
    $25,000 but less than $100,000 3.75 3.50  
    $100,000 but less than $250,000 3.50 3.25  
    $250,000+ NAV3 4  

The Investor A front-end sales charges can be reduced or eliminated through one or a combination of the following: the Right of Accumulation, a Letter of Intent, the Reinstatement Privilege, quantity discounts or an applicable waiver of the sales charge. If you redeem Investor A or Institutional shares and within 90 days buy new Investor A Shares of the same or another fund, you will not pay a sales charge on the new purchase amount. The amount eligible for this "Reinstatement Privilege" may not exceed the amount of your redemption proceeds and is only allowed once per year.
See the funds' prospectuses for more information. 
1 The Distributor may pay a dealer reallowance or placement fee to the dealer as shown on NAV purchases of Investor A Shares of $1 million or more. However, there is a CDSC (contingent deferred sales charge) of up to 1.00% of the offering price or the NAV of the shares on the redemption date (whichever is less) for shares redeemed within 18 months of purchase. 
2 Listed are the front-end sales loads reallowed to dealers as a percentage of the offering price of certain of the funds’ Non Money Market Investor A Shares. In cases where the Distributor acts as a dealer, it will not receive a placement fee on NAV purchases of more than $1 million of Investor A Shares. The dealer reallowance indicated will apply up to the indicated breakpoint (so that, for example, a sale of $4 million worth of Investor A Shares in an equity fund will result in a placement fee of 1.00% on the first $3 million and 0.50% on the final $1 million). 
3 NAV purchases on most equity and multi-asset funds will be subject to a 1.00% charge if liquidated within 18 months of purchase. BlackRock Balanced Capital, BlackRock Tactical Opportunities, BlackRock Multi-Asset Income, and BlackRock Dynamic High Income will be subject to a 0.75% charge if liquidated within 18 months of purchase. BlackRock Managed Income will be subject to a 0.50% charge if liquidated within 18 months of purchase. 
4 The following reallowance/placement fee to dealers will apply to most Multi-Asset Funds: 1.00% on $1,000,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above; BlackRock Balanced Capital / BlackRock Multi-Asset Income / BlackRock Dynamic High Income: 0.75% on $250,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above; BlackRock Tactical Opportunities: 0.75% on $1,000,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above; BlackRock Global Allocation: 1.00% on $250,000 to $2,999,999, 0.50% on $3,000,000 to $14,999,999, 0.25% on $15,000,000 and above; BlackRock Managed Income: 0.50% on $250,000 to $2,999,999, 0.25% on $3,000,000 to $14,999,999, 0.15% on $15,000,000 and above. If a dealer waives its right to receive a dealer reallowance, the fund may, at its own discretion, waive the CDSC related to NAV purchases of Investor A Shares.

Class A no load — investor A shares no load - purchased with no sales charge at any investment amount.

 

Applicable toMax. sales charge (%)Breakpoint scheduleSales charge (%)Dealer reallowance5,6(%)Trail (%)
Short Obligations Fund 0.00 0.00 n/a 0.25
Index funds 0.00 0.00 n/a 0.25