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BlackRock Sustainable Advantage Global Equity Fund
mutual fund
MASCX
Payout Change
Pending
Price as of:
$12.9
-0.05
-0.39%
primary theme
U.S. Small-Cap Growth Equity
share class
MASCX (Mutual Fund)
BlackRock Sustainable Advantage Global Equity Fund
Payout Change
Pending
Price as of:
$12.9
-0.05
-0.39%
primary theme
U.S. Small-Cap Growth Equity
share class
MASCX (Mutual Fund)
BlackRock Sustainable Advantage Global Equity Fund
Payout Change
Pending
Price as of:
$12.9
-0.05
-0.39%
primary theme
U.S. Small-Cap Growth Equity
share class
Name
As of 12/10/2024Price
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
23.1%
1 yr return
28.0%
3 Yr Avg Return
28.8%
5 Yr Avg Return
27.2%
Net Assets
$12.5 M
Holdings in Top 10
25.5%
52 WEEK LOW AND HIGH
$13.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 4.29%
SALES FEES
Front Load 5.75%
Deferred Load N/A
TRADING FEES
Turnover 28.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
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
MASCX - Profile
Distributions
- YTD Total Return 23.1%
- 3 Yr Annualized Total Return 28.8%
- 5 Yr Annualized Total Return 27.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.89%
- Dividend Yield 0.7%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameBlackRock Sustainable Advantage Global Equity Fund
-
Fund Family NameBlackRock-Advised Funds
-
Inception DateMay 01, 2015
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTony Dong
Fund Description
Under normal circumstances, the Fund seeks to invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities and equity-like instruments of companies that are components of, or have characteristics similar to, the companies included in the MSCI All Country World Index (the “MSCI ACWI Index” or the “Benchmark”) and derivatives that are tied economically to securities of the Benchmark. The Benchmark is a capitalization-weighted index from a broad range of industries chosen for market size, liquidity and industry group representation. As of July 31, 2024, the issuers in the Benchmark have a market capitalization ranging from $113.4 million to $3.3 trillion.
Equity securities include common stock and preferred stock. The Fund primarily seeks to buy common stock and may also invest in preferred stock. The Fund may also purchase convertible securities.
The Fund seeks to maintain certain ESG characteristics, climate risk exposure and climate opportunities relative to the Benchmark. Specifically, the Fund generally seeks to invest in a portfolio of equity securities that, in BlackRock’s view, (i) has an aggregate ESG assessment that is better than the aggregate ESG assessment of the Benchmark, (ii) has an aggregate carbon emissions assessment that is lower than that of the Benchmark, and (iii) in the aggregate, includes issuers that BlackRock believes are better positioned to capture climate opportunities relative to the issuers in the Benchmark.
BlackRock seeks to utilize exclusionary screens in determining the investment universe and to incorporate investment insights related to ESG characteristics in the portfolio construction process.
To determine the Fund’s investable universe, Fund management will first seek to screen out certain issuers based on ESG criteria determined by BlackRock. 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 the production of tobacco-related products; (iv) 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; (v) issuers that derive more than five percent of revenue from thermal coal mining; and (vi) issuers that derive more than five percent of revenue from oil sands extraction. 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, or 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. In addition, the Fund may gain indirect exposure (through, including but not limited to, derivatives and investments in other investment companies) to issue with exposures that are inconsistent with the ESG-related criteria used by Fund Management.
The Fund then seeks to pursue its investment objective by investing in equity securities in a disciplined manner, by using proprietary return forecast models that incorporate quantitative analysis. These forecast models are designed to identify aspects of mispricing across stocks which the Fund can seek to capture by over- and under-weighting particular equities while seeking to control incremental risk. The investment process is driven with systematic and quantitative implementation based on an issuer’s expected returns, which include measurable ESG characteristics, risk and transaction costs, as determined by BlackRock’s proprietary research.
BlackRock then constructs and rebalances the portfolio’s weightings by integrating its investment insights with the model-based optimization process. Certain of the investment insights relate to ESG characteristics in BlackRock-defined categories, including, but not limited to, (i) superior growth characteristics of issuers, (ii) risk mitigation characteristics of issuers, (iii) themes related to social matters and (iv) economic transition, which includes, but is not limited to, environmental considerations. Examples of such ESG characteristics include management quality, governance, controversies at issuers, public health analytics and an issuer’s innovation-oriented research and development. With respect to economic transition, BlackRock researches and develops investment insights that target carbon transition readiness and climate opportunities. The ESG characteristics utilized in the portfolio construction process may change over time and one or more characteristics may not be relevant to all issuers that are eligible for investment.
Under normal circumstances, the Fund anticipates it will allocate a substantial amount (approximately 40% or more — unless market conditions are not deemed favorable by Fund management, in which case the Fund would invest at least 30%) of its total assets in foreign securities, which may include securities (i) of foreign government issuers, (ii) of issuers organized or located outside the United States, (iii) of issuers which primarily trade in a market located outside the United States, or (iv) of issuers doing a substantial amount of business outside the United States, which the Fund considers to be companies that derive at least 50% of their revenue or profits from business outside the United States or have at least 50% of their sales or assets outside the United States. The Fund will allocate its assets among various regions and countries, including the United States (but in no fewer than three different countries). The Fund’s investments in foreign securities may include those in emerging markets.
From time to time, the Fund may invest in shares of companies through “new issues” or initial public offerings (“IPOs”). The Fund will invest in securities of non‑U.S. issuers that can be U.S. dollar based or non‑U.S. dollar based on a hedged or unhedged basis. The Fund may enter into currency transactions on a hedged or unhedged basis in order to seek total return.
The Fund may use derivatives, including options, futures, swaps (including, but not limited to, total return swaps, some of which may be referred to as contracts for difference) 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 manage cash flows into or out of the Fund effectively, 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 currency or an index, including but not limited to the Benchmark. The use of options, futures, swaps and forward contracts can be effective in protecting or enhancing the value of the Fund’s assets.
The Fund may engage in active and frequent trading of its investments.
MASCX - Performance
Return Ranking - Trailing
| Period | MASCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 23.1% | -60.4% | 86.4% | 29.07% |
| 1 Yr | 28.0% | -57.4% | 88.1% | 59.63% |
| 3 Yr | 28.8%* | -15.0% | 63.0% | 0.38% |
| 5 Yr | 27.2%* | -10.4% | 48.0% | 0.59% |
| 10 Yr | N/A* | -3.9% | 25.6% | N/A |
* Annualized
Return Ranking - Calendar
| Period | MASCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 17.6% | -20.5% | 54.6% | 30.11% |
| 2022 | -48.5% | -82.1% | 32.2% | 97.56% |
| 2021 | 0.5% | -90.6% | 300.1% | 31.13% |
| 2020 | 25.6% | -63.0% | 127.9% | 60.47% |
| 2019 | 33.8% | -7.7% | 42.9% | 6.44% |
Total Return Ranking - Trailing
| Period | MASCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 23.1% | -60.4% | 86.4% | 29.07% |
| 1 Yr | 28.0% | -57.4% | 88.1% | 59.63% |
| 3 Yr | 28.8%* | -15.0% | 63.0% | 0.38% |
| 5 Yr | 27.2%* | -10.4% | 48.0% | 0.59% |
| 10 Yr | N/A* | -3.9% | 25.6% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | MASCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 136.8% | -19.0% | 136.8% | 0.19% |
| 2022 | 44.3% | -59.9% | 44.3% | 0.19% |
| 2021 | 11.7% | -22.7% | 411.9% | 43.40% |
| 2020 | 36.1% | 1.5% | 150.8% | 55.77% |
| 2019 | 44.1% | 5.5% | 55.3% | 0.80% |
NAV & Total Return History
MASCX - Holdings
Concentration Analysis
| MASCX | Category Low | Category High | MASCX % Rank | |
|---|---|---|---|---|
| Net Assets | 12.5 M | 209 K | 34.3 B | 96.67% |
| Number of Holdings | 477 | 7 | 1226 | 4.44% |
| Net Assets in Top 10 | 3.11 M | 53.8 K | 3.02 B | 97.41% |
| Weighting of Top 10 | 25.46% | 7.5% | 100.0% | 37.85% |
Top 10 Holdings
- Apple, Inc. 5.11%
- Microsoft Corp. 4.66%
- NVIDIA Corp. 4.35%
- Amazon.com, Inc. 3.10%
- Alphabet, Inc., Class A 1.67%
- Alphabet, Inc., Class C 1.38%
- Mastercard, Inc., Class A 1.36%
- Johnson Johnson 1.35%
- Home Depot, Inc. (The) 1.29%
- Chevron Corp. 1.19%
Asset Allocation
| Weighting | Return Low | Return High | MASCX % Rank | |
|---|---|---|---|---|
| Stocks | 99.84% | 92.05% | 107.62% | 7.78% |
| Cash | 1.65% | 0.00% | 28.78% | 58.52% |
| Preferred Stocks | 0.23% | 0.00% | 4.59% | 12.22% |
| Other | 0.00% | -0.26% | 6.70% | 32.78% |
| Convertible Bonds | 0.00% | 0.00% | 1.57% | 36.30% |
| Bonds | 0.00% | 0.00% | 2.40% | 35.00% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MASCX % Rank | |
|---|---|---|---|---|
| Technology | 23.77% | 2.91% | 75.51% | 60.19% |
| Healthcare | 19.40% | 0.00% | 47.90% | 72.22% |
| Consumer Cyclical | 13.28% | 0.00% | 24.04% | 36.11% |
| Financial Services | 13.19% | 0.00% | 42.95% | 17.78% |
| Industrials | 11.89% | 0.00% | 36.64% | 87.04% |
| Consumer Defense | 4.60% | 0.00% | 13.56% | 35.37% |
| Energy | 4.58% | 0.00% | 55.49% | 19.81% |
| Basic Materials | 4.44% | 0.00% | 9.24% | 17.41% |
| Real Estate | 2.82% | 0.00% | 15.31% | 39.44% |
| Communication Services | 1.53% | 0.00% | 15.31% | 60.56% |
| Utilities | 0.50% | 0.00% | 5.57% | 22.78% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MASCX % Rank | |
|---|---|---|---|---|
| US | 66.63% | 17.30% | 107.62% | 99.63% |
| Non US | 33.21% | 0.00% | 77.12% | 0.56% |
MASCX - Expenses
Operational Fees
| MASCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 4.29% | 0.05% | 23.20% | 0.93% |
| Management Fee | 0.66% | 0.05% | 1.62% | 23.38% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 41.69% |
| Administrative Fee | 0.08% | 0.01% | 0.40% | 47.12% |
Sales Fees
| MASCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.75% | 3.50% | 5.75% | 14.71% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| MASCX 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.
| MASCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 28.00% | 3.00% | 264.00% | 16.91% |
MASCX - Distributions
Dividend Yield Analysis
| MASCX | Category Low | Category High | MASCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.73% | 0.00% | 6.91% | 9.81% |
Dividend Distribution Analysis
| MASCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| MASCX | Category Low | Category High | MASCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.89% | -2.47% | 1.10% | 65.92% |
Capital Gain Distribution Analysis
| MASCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jul 18, 2024 | $0.047 | OrdinaryDividend |
| Jul 18, 2024 | $0.272 | CapitalGainShortTerm |
| Jul 18, 2024 | $0.016 | CapitalGainLongTerm |
| Dec 12, 2023 | $0.074 | OrdinaryDividend |
| Dec 14, 2022 | $3.805 | CapitalGainLongTerm |
| Dec 16, 2021 | $1.897 | OrdinaryDividend |
| Dec 22, 2020 | $0.016 | OrdinaryDividend |
| Dec 16, 2020 | $1.420 | OrdinaryDividend |
| Dec 17, 2019 | $0.681 | CapitalGainShortTerm |
| Dec 17, 2019 | $0.371 | CapitalGainLongTerm |
| Dec 19, 2018 | $0.833 | CapitalGainShortTerm |
| Dec 19, 2018 | $0.589 | CapitalGainLongTerm |
| Dec 20, 2017 | $0.075 | CapitalGainLongTerm |
MASCX - Fund Manager Analysis
Managers
Tony Dong
Start Date
Tenure
Tenure Rank
May 01, 2015
7.09
7.1%
Tony Y. Dong is the Chief Investment Officer of Munder and has been with Munder Capital Management since 2014. Prior to that, Mr. Dong was Vice Chairman and Chief Investment Officer of Munder Capital Management, where he was employed since 1988. Prior to Munder, he was a portfolio manager and research analyst at Manufacturers National Bank. Mr. Dong holds a B.B.A. (with distinction) from the University of Michigan and an MBA in finance from Wayne State University. Mr. Dong is a CFA charterholder.
Robert Crosby
Start Date
Tenure
Tenure Rank
May 01, 2015
7.09
7.1%
Robert E. Crosby is a Senior Portfolio Manager of Munder and has been with the Victory Capital Management Inc. since 2014. Prior to that, Mr. Crosby was a Senior Portfolio Manager of Munder Capital Management, where he held various positions since 1993. Mr. Crosby is a CFA charterholder. Mr. Crosby received a B.A. in economics from the University of Missouri and an M.S. in economics and finance from Murray State University
Brian Matuszak
Start Date
Tenure
Tenure Rank
May 01, 2015
7.09
7.1%
Brian, who has many years investment industry experience, analyzes equity securities for Munder Capital’s mid-capitalization core growth, mid-cap growth, focused mid-cap growth and small-cap/mid-cap blend equity strategies. He assists with portfolio strategy, sector analysis, stock selection, and the monitoring of companies owned in the portfolio. Before becoming an equity analyst, Brian served two years as an internal wholesaler for Munder Capital. Prior to joining Munder Capital in 2000, he was a financial advisor for Prudential Securities. Brian also has experience as a micro-economics instructor at Macomb Community College. He earned both a B.B.A. in finance and accounting (with distinction), and an M.S. in applied economics from the University of Michigan. He is a CFA® charterholder and is a member of the CFA Institute and the CFA Society of Detroit.
Gavin Hayman
Start Date
Tenure
Tenure Rank
May 01, 2015
7.09
7.1%
Gavin rejoined Munder Capital in February 2010. He analyzes equity securities for the mid-capitalization core growth, mid-cap growth, focused mid-cap growth and small-cap/mid-cap blend equity strategies. He also assists with portfolio strategy, sector analysis, stock selection, and the monitoring of companies owned in the portfolio. Prior to rejoining the firm, Gavin was Director of Research at Telemus Capital Partners, a high-net-worth management company. Before that, he was an Institutional Sales Manager at AXA Framlington Investment Managers Group. Prior to that, Gavin served as International Product Manager for the Munder Framlington investment strategies. Before the Munder Framlington assignment, Gavin was a regional manager for Framlington Group, where he promoted all of the investment vehicles offered by the firm. In total, Gavin has 18 years of investment industry experience. He holds an honors degree in Law from the University of Central Lancashire, is a CFA® charterholder, and is a member of the CFA Institute.
Sean Wright
Start Date
Tenure
Tenure Rank
May 01, 2015
7.09
7.1%
Sean D. Wright is an Equity Analyst of Munder and has been with Victory Capital Management Inc since 2014. Prior to that, Mr. Wright was a Senior Equity Research Associate of Munder Capital Management (MCM) since 2010. Mr. Wright has analyzed equity securities for MCM’s mid-capitalization core growth, mid-cap growth and small-cap/mid-cap blend equity strategies since 2013. He assists with portfolio strategy, sector analysis, stock selection, and the monitoring of companies owned in the portfolio. Before becoming an equity analyst, Mr. Wright served as an intern with MCM, performing individual stock research and portfolio analytics work for the mid-capitalization core growth and large-capitalization growth strategies, as well as analyzing trade strategies for the equity trading desk and constructing marketing materials. Prior to joining MCM, he interned for RFC Financial Planners in Ann Arbor, Michigan, where he worked on various tasks related to portfolio management, asset allocation, and client relationship management.
Robert Glise
Start Date
Tenure
Tenure Rank
Sep 14, 2016
5.71
5.7%
Robert Glise is a Senior Portfolio Manager/Analyst of Munder and has been with Munder Capital Management since September 2016. From 2002 through 2015, Mr. Glise was a Senior Partner and Senior Portfolio Manager with Northpointe Capital Management, where he was the lead manager of the mid-cap growth strategy and a member of the team managing the small-cap growth strategy. Earlier in his career, he held investment roles at Comerica Bank and Eaton Corporation. Mr. Glise is a CFA charterholder. Mr. Glise earned a B.A. in finance from Michigan State University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 30.44 | 9.17 | 5.25 |
