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BlackRock Unconstrained Equity Fund
mutual fund
MDEGX
Payout Change
Suspended
Price as of:
$14.63
-0.08
-0.54%
primary theme
N/A
share class
MDEGX (Mutual Fund)
BlackRock Unconstrained Equity Fund
Payout Change
Suspended
Price as of:
$14.63
-0.08
-0.54%
primary theme
N/A
share class
MDEGX (Mutual Fund)
BlackRock Unconstrained Equity Fund
Payout Change
Suspended
Price as of:
$14.63
-0.08
-0.54%
primary theme
N/A
share class
Name
As of 12/12/2024Price
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
13.1%
1 yr return
15.0%
3 Yr Avg Return
6.8%
5 Yr Avg Return
10.6%
Net Assets
$1.24 B
Holdings in Top 10
63.2%
52 WEEK LOW AND HIGH
$14.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.22%
SALES FEES
Front Load 5.25%
Deferred Load N/A
TRADING FEES
Turnover 83.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/12/2024Price
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
MDEGX - Profile
Distributions
- YTD Total Return 13.1%
- 3 Yr Annualized Total Return 6.8%
- 5 Yr Annualized Total Return 10.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.10%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameBlackRock Unconstrained Equity Fund
-
Fund Family NameBlackRock-advised Funds
-
Inception DateNov 04, 2005
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Constantis
Fund Description
The Fund seeks to achieve its investment objective through a fully managed investment policy utilizing global equity securities. For purposes of the Fund’s investment policies, equity securities include common stock, preferred stock, warrants, depositary receipts, and securities and other instruments whose price is linked to the value of common stock. The combination of equity securities will be varied from time to time both with respect to types of securities and markets in response to changing market and economic trends. The Fund may also purchase convertible securities. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity and equity-related securities. This policy is a non-fundamental policy of the Fund and may not be changed without 60 days’ prior notice to the Fund’s shareholders.
The Fund seeks to achieve its investment objective by investing in equity securities of corporate issuers (which may include corporations, partnerships, trusts or other corporate-like entities) located around the world. The Fund has no geographic limits on where its investments may be located. This flexibility allows Fund management to look for investments in markets around the world that it believes will provide the best relative returns to meet the Fund’s investment objective. The Fund may invest in the securities of companies of any market capitalization. The Fund may also invest in the securities of emerging growth companies.
The Fund is actively managed using an unconstrained investment style (i.e., it will not take a benchmark index into account when selecting the Fund’s investments). Fund management, in its sole discretion, may invest in securities that are not included in the MSCI World Index. The Fund’s portfolio holdings are expected to deviate materially from the MSCI World Index. The Fund may have exposure to a limited number of different investments, countries and/or sectors.
The Fund may use derivatives, including options, futures, swaps and forward contracts both to seek to increase the return of the Fund and to hedge (or protect) the value of its assets against adverse movements in currency exchange rates, interest rates and movements in the securities markets. In order to effectively manage cash flows into or out of the Fund, the Fund may buy and sell financial futures contracts or options on such contracts. Derivatives are financial instruments whose value is derived from another security, a commodity (such as oil or gas), a currency or an index.
The Fund may invest a portion of its assets in securities directly or indirectly secured by real estate or interests therein or issued by companies that invest in real estate or interests therein such as stock, bonds or convertible bonds issued by real estate investment trusts (“REITs”).
The Fund may invest in both developed and emerging markets. In addition to investing in foreign securities, the Fund may manage its exposure to foreign currencies through the use of forward currency contracts and other currency derivatives. However, foreign exchange risk is not expected to be systematically hedged. From time to time, the Fund may own foreign cash equivalents or foreign bank deposits as part of the Fund’s investment strategy. The Fund may also invest in non-U.S. currencies.
The Fund may invest in indexed and inverse securities.
To determine the Fund’s investable universe, Fund management will first seek to screen out certain issuers based on environmental, social and governance (“ESG”) criteria determined by BlackRock Advisors, LLC (“BlackRock”), subject to the considerations noted below. Such screening criteria principally includes: (i) issuers that derive more than zero percent of revenue from the production of controversial weapons; (ii) issuers that derive more than zero percent of revenue from the production of civilian firearms; (iii) issuers that derive more than zero percent of revenue from direct involvement in the production of nuclear weapons or nuclear weapon components or delivery platforms, or the provision of auxiliary services related to nuclear weapons; (iv) issuers that derive more than zero percent of revenue from the production of tobacco-related products; (v) issuers that derive more than five percent of revenue from tobacco-related activities; (vi) issuers that derive more than five percent of revenue from thermal coal generation, unless such issuers either (a) have made certain commitments to reduce climate impact or (b) derive at least fifty percent of revenue from alternative energy sources; (vii) issuers that derive more than five percent of revenue from thermal coal mining; (viii) issuers that derive more than five percent of revenue from oil sands extraction; (ix) issuers identified as violators of the United Nations Global Compact, which are globally accepted principles covering corporate behavior in the areas of human rights, labor, environment, and anti-corruption. Notwithstanding the foregoing, the Fund may invest in green bonds of issuers that exceed the thresholds stated in (vi), (vii) or (viii) above. The Fund relies on one or more third-party ratings agencies to identify issuers for purposes of the above screening criteria. Third-party rating agencies may base the above screening criteria on an estimate when revenue for a covered business activity is not disclosed by the issuer or publicly available.
The Fund’s screening criteria is measured at the time of investment and is dependent upon information and data that may be incomplete, inaccurate, unavailable or estimated. Where the Fund’s criteria looks solely to third-party ratings or
data, issuers are only screened to the extent such ratings or data have been assigned or made available by the third parties. This screening criteria is subject to change over time at BlackRock’s discretion.
The Fund may gain indirect exposure (through, including but not limited to, derivatives and investments in other investment companies) to issuers with exposures that are inconsistent with the ESG-related criteria used by Fund management.
The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended (the “Investment Company Act”), which means that it can invest more of its assets in fewer issuers than a diversified company.
MDEGX - Performance
Return Ranking - Trailing
| Period | MDEGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 13.1% | -35.6% | 29.2% | 29.08% |
| 1 Yr | 15.0% | 17.3% | 252.4% | 41.36% |
| 3 Yr | 6.8%* | -3.5% | 34.6% | 16.91% |
| 5 Yr | 10.6%* | 0.1% | 32.7% | 32.35% |
| 10 Yr | 9.5%* | -6.9% | 18.3% | 55.66% |
* Annualized
Return Ranking - Calendar
| Period | MDEGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 33.2% | -24.3% | 957.1% | 64.78% |
| 2022 | -33.2% | -38.3% | 47.1% | 67.26% |
| 2021 | -2.4% | -54.2% | 0.6% | 25.71% |
| 2020 | 9.2% | -76.0% | 54.1% | 46.12% |
| 2019 | 18.5% | -26.1% | 47.8% | 95.22% |
Total Return Ranking - Trailing
| Period | MDEGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 13.1% | -35.6% | 29.2% | 29.87% |
| 1 Yr | 15.0% | 11.4% | 252.4% | 63.75% |
| 3 Yr | 6.8%* | -3.5% | 34.6% | 25.06% |
| 5 Yr | 10.6%* | 0.1% | 32.7% | 42.15% |
| 10 Yr | 9.5%* | -6.9% | 18.3% | 63.64% |
* Annualized
Total Return Ranking - Calendar
| Period | MDEGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 33.2% | -24.3% | 957.1% | 64.78% |
| 2022 | -20.5% | -33.1% | 47.1% | 67.89% |
| 2021 | 19.9% | -44.4% | 1.8% | 46.16% |
| 2020 | 16.3% | -6.5% | 54.1% | 35.72% |
| 2019 | 32.3% | -14.4% | 47.8% | 97.61% |
NAV & Total Return History
MDEGX - Holdings
Concentration Analysis
| MDEGX | Category Low | Category High | MDEGX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.24 B | 199 K | 133 B | 58.44% |
| Number of Holdings | 29 | 1 | 9075 | 77.53% |
| Net Assets in Top 10 | 783 M | -18 M | 37.6 B | 50.55% |
| Weighting of Top 10 | 63.24% | 9.1% | 100.0% | 13.39% |
Top 10 Holdings
- Novo Nordisk A/S 9.55%
- Microsoft Corp 9.51%
- ASML Holding NV 8.91%
- Thermo Fisher Scientific Inc 5.47%
- SP Global Inc 5.30%
- Mastercard Inc 5.19%
- Cadence Design Systems Inc 4.90%
- Ferrari NV 4.88%
- Intuitive Surgical Inc 4.84%
- Alphabet Inc 4.69%
Asset Allocation
| Weighting | Return Low | Return High | MDEGX % Rank | |
|---|---|---|---|---|
| Stocks | 99.71% | 61.84% | 125.47% | 14.21% |
| Cash | 0.81% | -174.70% | 23.12% | 82.38% |
| Preferred Stocks | 0.00% | -0.01% | 5.28% | 62.11% |
| Other | 0.00% | -13.98% | 19.14% | 65.75% |
| Convertible Bonds | 0.00% | 0.00% | 4.46% | 57.49% |
| Bonds | 0.00% | -1.50% | 161.67% | 59.25% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MDEGX % Rank | |
|---|---|---|---|---|
| Financial Services | 26.35% | 0.00% | 38.42% | 6.28% |
| Healthcare | 19.35% | 0.00% | 35.42% | 12.89% |
| Technology | 18.67% | 0.00% | 49.87% | 71.37% |
| Industrials | 12.86% | 0.00% | 44.06% | 76.87% |
| Communication Services | 10.14% | 0.00% | 57.66% | 31.50% |
| Consumer Cyclical | 7.65% | 0.00% | 40.94% | 62.00% |
| Consumer Defense | 4.99% | 0.00% | 73.28% | 24.12% |
| Utilities | 0.00% | 0.00% | 29.12% | 87.00% |
| Real Estate | 0.00% | 0.00% | 39.48% | 88.66% |
| Energy | 0.00% | 0.00% | 21.15% | 84.36% |
| Basic Materials | 0.00% | 0.00% | 38.60% | 93.61% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MDEGX % Rank | |
|---|---|---|---|---|
| US | 66.14% | 0.13% | 103.82% | 11.01% |
| Non US | 33.58% | 0.58% | 99.46% | 87.11% |
MDEGX - Expenses
Operational Fees
| MDEGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.22% | 0.01% | 44.27% | 43.10% |
| Management Fee | 0.80% | 0.00% | 1.82% | 74.18% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 37.03% |
| Administrative Fee | N/A | 0.01% | 0.76% | N/A |
Sales Fees
| MDEGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.25% | 2.50% | 5.75% | 68.80% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| MDEGX 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.
| MDEGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 83.00% | 0.00% | 395.00% | 33.37% |
MDEGX - Distributions
Dividend Yield Analysis
| MDEGX | Category Low | Category High | MDEGX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 3.26% | 57.00% |
Dividend Distribution Analysis
| MDEGX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Annually | Annually |
Net Income Ratio Analysis
| MDEGX | Category Low | Category High | MDEGX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.10% | -4.27% | 12.65% | 60.91% |
Capital Gain Distribution Analysis
| MDEGX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jul 14, 2022 | $1.765 | CapitalGainLongTerm |
| Dec 07, 2021 | $0.564 | OrdinaryDividend |
| Jul 15, 2021 | $2.635 | OrdinaryDividend |
| Dec 07, 2020 | $0.910 | OrdinaryDividend |
| Jul 16, 2020 | $0.028 | OrdinaryDividend |
| Dec 12, 2019 | $0.134 | CapitalGainShortTerm |
| Dec 12, 2019 | $1.387 | CapitalGainLongTerm |
| Dec 12, 2019 | $0.072 | OrdinaryDividend |
| Dec 14, 2018 | $0.156 | CapitalGainShortTerm |
| Dec 14, 2018 | $0.723 | CapitalGainLongTerm |
| Dec 14, 2018 | $0.066 | OrdinaryDividend |
| Dec 11, 2017 | $0.450 | CapitalGainLongTerm |
| Dec 11, 2017 | $0.047 | OrdinaryDividend |
| Dec 13, 2016 | $0.068 | OrdinaryDividend |
| Dec 15, 2015 | $0.824 | CapitalGainLongTerm |
| Dec 15, 2015 | $0.084 | OrdinaryDividend |
| Dec 17, 2014 | $0.091 | CapitalGainShortTerm |
| Dec 17, 2014 | $2.095 | CapitalGainLongTerm |
| Dec 17, 2014 | $0.152 | OrdinaryDividend |
| Dec 17, 2013 | $0.249 | CapitalGainShortTerm |
| Dec 17, 2013 | $0.083 | CapitalGainLongTerm |
| Dec 17, 2013 | $0.136 | OrdinaryDividend |
| Dec 19, 2012 | $0.286 | CapitalGainLongTerm |
| Dec 19, 2012 | $0.339 | OrdinaryDividend |
| Dec 19, 2011 | $0.298 | OrdinaryDividend |
| Dec 20, 2010 | $0.088 | OrdinaryDividend |
| Dec 18, 2009 | $0.121 | OrdinaryDividend |
| Dec 15, 2008 | $0.101 | OrdinaryDividend |
| Dec 14, 2007 | $0.086 | OrdinaryDividend |
| Dec 14, 2007 | $0.277 | CapitalGainShortTerm |
| Dec 14, 2007 | $0.292 | CapitalGainLongTerm |
| Apr 25, 2007 | $0.035 | OrdinaryDividend |
| Apr 25, 2007 | $0.143 | CapitalGainShortTerm |
| Apr 25, 2007 | $0.068 | CapitalGainLongTerm |
| Dec 11, 2006 | $0.236 | CapitalGainShortTerm |
| Dec 11, 2006 | $0.006 | CapitalGainLongTerm |
| Dec 11, 2006 | $0.121 | OrdinaryDividend |
MDEGX - Fund Manager Analysis
Managers
Michael Constantis
Start Date
Tenure
Tenure Rank
Mar 01, 2022
0.25
0.3%
Michael is responsible for growth Pan-European portfolio management as well as covering telecom and technology stocks. Prior to joining BlackRock in 2005 he was at Deutsche Asset Management.
Alister Hibbert
Start Date
Tenure
Tenure Rank
Mar 01, 2022
0.25
0.3%
Alister Hibbert Managing Director of BlackRock, Inc. since 2010; Director of BlackRock, Inc. from 2008 to 2009; Portfolio manager at Scottish Widows Investment Partnership from 2005 to 2008; Previously, Hibbert is a portfolio manager and research analyst with Oeschle International from 2004 to 2005. Prior to joining the company, he worked as senior European portfolio manager at Invesco Perpetual Asset Management. He began his investment career when he joined the Group from 1996 to 2004 as an economist within the Continental European Equity team. Alister managed the INVESCO GT Continental European Fund and INVESCO GT Pan European Fund.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 35.82 | 6.24 | 1.25 |
