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BLACKROCK HIGH EQUITY INCOME FUND
mutual fund
BMECX
Payout Change
Pending
Price as of:
$15.42
+0.11
+0.72%
primary theme
N/A
share class
BMECX (Mutual Fund)
BLACKROCK HIGH EQUITY INCOME FUND
Payout Change
Pending
Price as of:
$15.42
+0.11
+0.72%
primary theme
N/A
share class
BMECX (Mutual Fund)
BLACKROCK HIGH EQUITY INCOME FUND
Payout Change
Pending
Price as of:
$15.42
+0.11
+0.72%
primary theme
N/A
share class
Name
As of 10/11/2024Price
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
12.1%
1 yr return
23.0%
3 Yr Avg Return
6.7%
5 Yr Avg Return
9.0%
Net Assets
$2.02 B
Holdings in Top 10
20.4%
52 WEEK LOW AND HIGH
$15.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.98%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 146.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
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
BMECX - Profile
Distributions
- YTD Total Return 12.1%
- 3 Yr Annualized Total Return 6.7%
- 5 Yr Annualized Total Return 9.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 5.85%
- Dividend Yield 7.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameBLACKROCK HIGH EQUITY INCOME FUND
-
Fund Family NameBlackRock-Advised Funds
-
Inception DateJul 28, 1999
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTony DeSpirito
Fund Description
The Fund seeks to achieve its investment objective by investing primarily in a diversified portfolio of equity securities. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities and equity-related instruments, including equity-linked notes. The Fund may invest in securities of companies with any market capitalization, but will generally focus on large cap securities. The Fund may invest up to 50% of its assets in equity-linked notes that provide exposure to equity securities and covered call options or other types of financial instruments.
With respect to the Fund’s equity investments, the Fund may invest in common stock, preferred stock and depositary receipts. The Fund generally intends to invest in dividend paying stocks. From time to time, the Fund may invest in shares of companies through initial public offerings (“IPOs”). The Fund may invest in securities from any country, including emerging markets. The Fund may invest in securities denominated in both U.S. dollars and non-U.S. dollar currencies. BlackRock chooses investments for the Fund that it believes will provide current income and current gains. The Fund may also purchase convertible securities.
The Fund’s portfolio, in the aggregate, will be structured in a manner designed to deliver high current income while maintaining prospects for capital appreciation.
The Fund intends to employ a strategy of writing (selling) covered call and put options on common stocks, indices of securities, sectors of securities and baskets of securities, primarily through structured notes. This option strategy is intended to generate current gains from option premiums as a means to enhance distributions payable to the Fund’s shareholders. As the Fund writes more covered call options, its ability to benefit from capital appreciation becomes more limited and the Fund’s total return may deviate more from the returns of the Russell 1000® Value Index, an all equity benchmark. The Fund seeks to produce a high level of current income from dividends and from option writing premiums.
The Fund may invest in master limited partnerships (“MLPs”) that are generally in energy- and financial-related industries and in U.S. and non-U.S. real estate investment trusts (“REITs”), as well as structured products, including equity-linked notes, to maximize the Fund’s current income.
The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
BMECX - Performance
Return Ranking - Trailing
| Period | BMECX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.1% | -2.8% | 240.8% | 2.77% |
| 1 Yr | 23.0% | -4.3% | 140.6% | 10.00% |
| 3 Yr | 6.7%* | -8.3% | 18.3% | 47.44% |
| 5 Yr | 9.0%* | -5.0% | 17.3% | 19.49% |
| 10 Yr | 7.0%* | -4.6% | 13.2% | 35.29% |
* Annualized
Return Ranking - Calendar
| Period | BMECX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.6% | -34.1% | 904.0% | 89.64% |
| 2022 | -9.1% | -28.6% | 438.4% | 35.26% |
| 2021 | 13.9% | -93.5% | 8.2% | 94.48% |
| 2020 | -7.6% | -38.9% | 19.8% | 100.00% |
| 2019 | 13.0% | -10.9% | 12.8% | 75.73% |
Total Return Ranking - Trailing
| Period | BMECX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.1% | -2.7% | 244.0% | 2.77% |
| 1 Yr | 23.0% | -4.3% | 140.6% | 12.17% |
| 3 Yr | 6.7%* | -8.3% | 18.3% | 43.59% |
| 5 Yr | 9.0%* | -5.4% | 17.3% | 17.80% |
| 10 Yr | 7.0%* | -4.6% | 13.2% | 35.29% |
* Annualized
Total Return Ranking - Calendar
| Period | BMECX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.4% | -34.1% | 904.0% | 89.64% |
| 2022 | -2.0% | -5.9% | 438.4% | 35.84% |
| 2021 | 24.6% | -81.2% | 8.2% | 53.10% |
| 2020 | -1.3% | -29.0% | 19.8% | 10.08% |
| 2019 | 20.8% | -10.9% | 12.8% | 29.13% |
NAV & Total Return History
BMECX - Holdings
Concentration Analysis
| BMECX | Category Low | Category High | BMECX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.02 B | 25 | 17.4 B | 14.23% |
| Number of Holdings | 176 | 2 | 508 | 30.92% |
| Net Assets in Top 10 | 413 M | -6.66 M | 5.12 B | 23.28% |
| Weighting of Top 10 | 20.37% | 11.3% | 100.0% | 48.00% |
Top 10 Holdings
- BlackRock Liquidity Funds T-Fund 4.64%
- WELLS FARGO CO 2.48%
- Citigroup Inc 2.15%
- Fidelity National Information Services Inc 1.70%
- RTX Corp 1.64%
- Samsung Electronics Co Ltd 1.62%
- Shell PLC 1.58%
- BP PLC 1.56%
- First Citizens BancShares Inc/NC 1.50%
- Leidos Holdings Inc 1.50%
Asset Allocation
| Weighting | Return Low | Return High | BMECX % Rank | |
|---|---|---|---|---|
| Stocks | 66.39% | -3.92% | 100.76% | 46.56% |
| Bonds | 34.42% | 0.00% | 97.96% | 95.04% |
| Cash | 4.90% | -0.76% | 100.29% | 68.32% |
| Preferred Stocks | 0.27% | 0.00% | 3.08% | 94.27% |
| Other | 0.00% | 0.00% | 45.92% | 12.21% |
| Convertible Bonds | 0.00% | 0.00% | 20.91% | 95.42% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BMECX % Rank | |
|---|---|---|---|---|
| Financial Services | 20.71% | 0.00% | 29.60% | 2.52% |
| Healthcare | 20.55% | 0.00% | 25.91% | 7.98% |
| Consumer Defense | 11.52% | 0.00% | 22.87% | 7.14% |
| Technology | 10.75% | 0.00% | 44.43% | 94.12% |
| Energy | 7.80% | 0.00% | 69.54% | 7.98% |
| Industrials | 7.70% | 1.41% | 43.91% | 82.77% |
| Communication Services | 6.92% | 0.00% | 21.22% | 85.29% |
| Consumer Cyclical | 6.26% | 0.00% | 19.02% | 98.74% |
| Utilities | 5.37% | 0.00% | 13.35% | 10.08% |
| Real Estate | 1.91% | 0.00% | 9.74% | 90.34% |
| Basic Materials | 0.52% | 0.00% | 60.58% | 91.18% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BMECX % Rank | |
|---|---|---|---|---|
| US | 54.11% | -3.89% | 100.00% | 64.12% |
| Non US | 12.28% | -2.17% | 99.33% | 14.89% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | BMECX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 4.90% | 0.09% | 100.00% | 75.57% |
| Derivative | 0.00% | 0.00% | 0.13% | 2.67% |
| Securitized | 0.00% | 0.00% | 22.63% | 94.27% |
| Corporate | 0.00% | 0.00% | 91.57% | 95.42% |
| Municipal | 0.00% | 0.00% | 97.57% | 94.27% |
| Government | 0.00% | 0.00% | 99.91% | 94.66% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | BMECX % Rank | |
|---|---|---|---|---|
| US | 28.99% | 0.00% | 97.96% | 95.42% |
| Non US | 5.43% | 0.00% | 16.94% | 94.66% |
BMECX - Expenses
Operational Fees
| BMECX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.98% | 0.20% | 6.78% | 16.05% |
| Management Fee | 0.78% | 0.20% | 1.75% | 52.61% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 98.85% |
| Administrative Fee | 0.06% | 0.02% | 0.28% | 28.67% |
Sales Fees
| BMECX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 4.75% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 1.00% | 91.67% |
Trading Fees
| BMECX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| BMECX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 146.00% | 0.00% | 456.80% | 71.88% |
BMECX - Distributions
Dividend Yield Analysis
| BMECX | Category Low | Category High | BMECX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 7.56% | 0.00% | 3.76% | 95.91% |
Dividend Distribution Analysis
| BMECX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annually | Monthly | Annually |
Net Income Ratio Analysis
| BMECX | Category Low | Category High | BMECX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 5.85% | -2.54% | 14.24% | 3.28% |
Capital Gain Distribution Analysis
| BMECX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.097 | OrdinaryDividend |
| Aug 30, 2024 | $0.086 | OrdinaryDividend |
| Jul 31, 2024 | $0.074 | OrdinaryDividend |
| Apr 30, 2024 | $0.063 | OrdinaryDividend |
| Mar 31, 2024 | $0.079 | OrdinaryDividend |
| Feb 29, 2024 | $0.074 | OrdinaryDividend |
| Jan 31, 2024 | $0.056 | OrdinaryDividend |
| Dec 29, 2023 | $0.064 | OrdinaryDividend |
| Nov 30, 2023 | $0.079 | OrdinaryDividend |
| Oct 31, 2023 | $0.054 | OrdinaryDividend |
| Sep 30, 2023 | $0.073 | OrdinaryDividend |
| Aug 31, 2023 | $0.082 | OrdinaryDividend |
| Jul 31, 2023 | $0.055 | OrdinaryDividend |
| Jun 30, 2023 | $0.073 | OrdinaryDividend |
| May 31, 2023 | $0.080 | OrdinaryDividend |
| Apr 28, 2023 | $0.069 | OrdinaryDividend |
| Mar 31, 2023 | $0.078 | OrdinaryDividend |
| Feb 28, 2023 | $0.069 | OrdinaryDividend |
| Jan 31, 2023 | $0.056 | OrdinaryDividend |
| Dec 30, 2022 | $0.074 | OrdinaryDividend |
| Dec 08, 2022 | $0.049 | CapitalGainShortTerm |
| Nov 30, 2022 | $0.075 | OrdinaryDividend |
| Oct 31, 2022 | $0.050 | OrdinaryDividend |
| Sep 30, 2022 | $0.076 | OrdinaryDividend |
| Aug 31, 2022 | $0.073 | OrdinaryDividend |
| Jul 29, 2022 | $0.060 | OrdinaryDividend |
| Jul 14, 2022 | $0.013 | CapitalGainLongTerm |
| Jun 30, 2022 | $0.067 | OrdinaryDividend |
| May 31, 2022 | $0.107 | OrdinaryDividend |
| Apr 29, 2022 | $0.056 | OrdinaryDividend |
| Mar 31, 2022 | $0.071 | OrdinaryDividend |
| Feb 28, 2022 | $0.076 | OrdinaryDividend |
| Jan 31, 2022 | $0.056 | OrdinaryDividend |
| Dec 31, 2021 | $0.087 | OrdinaryDividend |
| Dec 31, 2021 | $0.132 | CapitalGainLongTerm |
| Dec 07, 2021 | $0.132 | CapitalGainLongTerm |
| Nov 30, 2021 | $0.073 | OrdinaryDividend |
| Oct 29, 2021 | $0.068 | OrdinaryDividend |
| Sep 30, 2021 | $0.075 | OrdinaryDividend |
| Aug 31, 2021 | $0.070 | OrdinaryDividend |
| Jul 30, 2021 | $0.060 | OrdinaryDividend |
| Jul 15, 2021 | $0.087 | OrdinaryDividend |
| Jul 15, 2021 | $0.080 | CapitalGainLongTerm |
| Jun 30, 2021 | $0.068 | OrdinaryDividend |
| May 28, 2021 | $0.088 | OrdinaryDividend |
| Apr 30, 2021 | $0.084 | OrdinaryDividend |
| Mar 31, 2021 | $0.071 | OrdinaryDividend |
| Feb 26, 2021 | $0.078 | OrdinaryDividend |
| Jan 29, 2021 | $0.049 | OrdinaryDividend |
| Dec 31, 2020 | $0.071 | OrdinaryDividend |
| Nov 30, 2020 | $0.057 | OrdinaryDividend |
| Oct 30, 2020 | $0.055 | OrdinaryDividend |
| Sep 30, 2020 | $0.075 | OrdinaryDividend |
| Aug 31, 2020 | $0.070 | OrdinaryDividend |
| Jul 31, 2020 | $0.047 | OrdinaryDividend |
| Jun 30, 2020 | $0.048 | OrdinaryDividend |
| May 29, 2020 | $0.077 | OrdinaryDividend |
| Apr 30, 2020 | $0.044 | OrdinaryDividend |
| Apr 08, 2020 | $0.249 | CapitalGainShortTerm |
| Dec 05, 2019 | $0.237 | OrdinaryDividend |
| Oct 10, 2019 | $0.291 | OrdinaryDividend |
| Jul 18, 2019 | $0.197 | OrdinaryDividend |
| Apr 10, 2019 | $0.218 | OrdinaryDividend |
| Dec 06, 2018 | $0.138 | CapitalGainShortTerm |
| Dec 06, 2018 | $0.910 | CapitalGainLongTerm |
| Dec 06, 2018 | $0.232 | OrdinaryDividend |
| Oct 11, 2018 | $0.243 | OrdinaryDividend |
| Jul 19, 2018 | $0.257 | OrdinaryDividend |
| Apr 11, 2018 | $0.292 | OrdinaryDividend |
| Dec 04, 2017 | $0.167 | CapitalGainShortTerm |
| Dec 04, 2017 | $0.021 | CapitalGainLongTerm |
| Dec 04, 2017 | $0.252 | OrdinaryDividend |
| Jul 20, 2017 | $3.524 | CapitalGainShortTerm |
| Jul 20, 2017 | $10.018 | CapitalGainLongTerm |
| Dec 06, 2016 | $1.988 | CapitalGainLongTerm |
| Dec 12, 2014 | $1.187 | CapitalGainShortTerm |
| Dec 12, 2014 | $4.580 | CapitalGainLongTerm |
| Dec 13, 2013 | $2.669 | CapitalGainShortTerm |
| Dec 13, 2013 | $6.198 | CapitalGainLongTerm |
| Dec 13, 2012 | $0.774 | CapitalGainLongTerm |
| Dec 12, 2011 | $0.152 | CapitalGainShortTerm |
| Dec 12, 2011 | $3.390 | CapitalGainLongTerm |
| Dec 02, 2010 | $0.389 | CapitalGainLongTerm |
| Dec 21, 2001 | $0.130 | OrdinaryDividend |
| Nov 13, 2000 | $9.622 | CapitalGainShortTerm |
| Nov 13, 2000 | $0.454 | CapitalGainLongTerm |
BMECX - Fund Manager Analysis
Managers
Tony DeSpirito
Start Date
Tenure
Tenure Rank
Jun 12, 2017
4.97
5.0%
Mr. DeSpirito has been a Managing Director of BlackRock, Inc. since 2014. Prior to joining BlackRock in August 2014, for the last 18 years Tony had been with Pzena Investment Management where he was Managing Principal, Portfolio Manager and a member of the firm’s Executive Committee. Prior to joining Pzena Investment Management in 1996, Mr. DeSpirito was an Associate in the Corporate Department at the Boston based law firm of Ropes & Gray LLP. At Ropes & Gray, he advised clients in the direct television, financial services, fitness, packaging films, retail, software, and wire and cable industries. Mr. DeSpirito earned a B.S. summa cum laude from the Wharton School of the University of Pennsylvania in 1990 and a J.D. magna cum laude from Harvard Law School in 1993. "
Kyle McClements
Start Date
Tenure
Tenure Rank
Jun 12, 2017
4.97
5.0%
CFA ,Managing Director of BlackRock, Inc. since 2010 McClements joined BlackRock following the merger with SSRM in 2005. Prior to joining BlackRock, he was vice president of SSRM's Quantitative Strategies Group where one of his responsibilities was implementing different option strategies on various equity accounts since 2004. Prior to joining SSRM, McClements was a vice president at Deutsche Asset Management where he was a derivative, program and FX trader. From 1998 to 2001, he was also a portfolio manager for the ProEquity Fund Series.
David Zhao
Start Date
Tenure
Tenure Rank
Jun 12, 2017
4.97
5.0%
Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio including setting the Fund’s overall investment strategy and overseeing the management of the Fund
Christopher Accettella
Start Date
Tenure
Tenure Rank
Jan 28, 2020
2.34
2.3%
Christopher M. Accettella, Director since 2008, Vice President of BlackRock, Inc. from 2005 to 2008,is a member of the Fundamental Equity platform within BlackRock's Portfolio Management Group. He is a trader responsible for executing equity derivatives and options trades. Prior to joining BlackRock in 2005, Mr. Accettella was an institutional sales trader with American Technology Research. From 2001 to 2003, he was with Deutsche Asset Management where he was responsible for derivatives and program trading. Prior to that, he was a senior associate in the Pacific Basin Equity Group at Scudder Investments Singapore Limited. Mr. Accettella began his investment career in 1997 as a portfolio analyst in the European Equity group of Scudder Kemper Investments, Inc. Mr. Accettella earned a BA degree in economics and Asian studies from Colgate University in 1997.
Tom Pierce
Start Date
Tenure
Tenure Rank
Jun 08, 2021
0.98
1.0%
Director of BlackRock, Inc. since 2017; Research Analyst at Sierra Global Management from 2012 to 2017.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 19.77 | 3.61 | 5.67 |
