Fund Evaluator:
BlackRock Energy Opportunities Instl (BACIX)
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Best Performing in Equity Energy Over the Last Year
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Fund Details
BlackRock Energy Opportunities Instl Overview
BlackRock Energy Opportunities Instl (BACIX) is an actively managed Sector Equity Equity Energy fund. BlackRock launched the fund in 2005.
The investment seeks to provide long-term growth of capital. The fund invests at least 80% of its total assets in equity securities of global energy and natural resources companies and companies in associated businesses, as well as utilities (such as gas, water, cable, electrical and telecommunications utilities). It will concentrate its investments (i.e., invest more than 25% of its assets) in energy or natural resources companies. The fund may invest without limit in companies located anywhere in the world and will generally invest in at least three countries and in companies tied economically to a number of countries. It is non-diversified.
About BlackRock Energy Opportunities Instl (BACIX)
There are 2 members of the management team with an average tenure of 9.59 years: Alastair Bishop (2015), Mark Hume (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and MSCI World/Energy NR USD index with a weighting of 100%. BlackRock Energy Opportunities Instl has 42 securities in its portfolio. The top 10 holdings constitute 71.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
BlackRock Energy Opportunities Instl is part of the Equity global asset class and is within the Sector Equity fund group. BlackRock Energy Opportunities Instl has 36.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 63.1%. There is 36.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). BlackRock Energy Opportunities Instl has 0.9% of the portfolio in cash.
Assets Under Management
The fund has $120 million in total assets, which is below the $431 million average for the Equity Energy category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BACIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The BlackRock Energy Opportunities Instl expense ratio is high compared to funds in the Equity Energy category. BlackRock Energy Opportunities Instl has an expense ratio of 0.92%, which is 28% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. BlackRock Energy Opportunities Instl has a portfolio turnover rate of 66%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 136% for the Equity Energy category.
Recently, in the month of July 2026, BlackRock Energy Opportunities Instl returned 12.2%, which earned it a grade of B, as the Equity Energy category had an average return of 8.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
BlackRock Energy Opportunities Instl has a trailing yield of 2.03%, which is above the 1.27% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
BlackRock Energy Opportunities Instl Grades
Year to date, the fund has returned 34.0%, 1.5 percentage points better than the category, which translates into a grade of C. The fund has returned 41.2% over the past year (grade of C), 15.8% over the past three years (grade of C) and 22.0% per year over the past five years (grade of C) and 9.3% per year over the past 10 years (grade of B).
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BACIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BACIX Return (NAV) | 12.2% | 0.3% | 41.2% | 15.8% | 22.0% | 9.3% |
| BACIX Grade | B | A | C | C | C | B |
| +/- Category | 3.9% | 3.7% | -0.9% | 0.6% | 0.5% | 1.9% |
| Equity Energy Avg | 8.2% | -3.4% | 42.1% | 15.1% | 21.6% | 7.4% |
| BACIX Tax Cost Ratio | na | na | 1.0% | 1.0% | 1.1% | 1.2% |
BACIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BACIX Return (NAV) | 34.0% | 11.0% | 4.2% | 3.0% | 43.7% | 43.5% | -29.3% | 13.1% | -19.5% | 2.4% | 27.3% |
| BACIX Grade | C | C | D | B | C | C | B | A | A | A | C |
| +/- Category | 1.5% | -1.1% | -1.3% | 0.9% | -2.8% | -1.0% | -0.9% | 5.1% | 7.4% | 7.5% | -1.8% |
| Equity Energy Avg | 32.5% | 12.2% | 5.5% | 2.0% | 46.5% | 44.5% | -28.5% | 8.0% | -26.9% | -5.0% | 29.2% |
| Risk Measures | |
| Standard Deviation: | 17.7% |
| Total Risk Index: | 1.44 - High |
| Category Risk Index: | 0.92 - Below Average |
| Category Risk Grade: | B (39% Rank) |
| Beta: | -0.15 |
| R-Squared: | 1% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 2.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $368 Mil |
| Fund Total Assets: | $ 120 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 66% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 10.8 years | |||
| Average Tenure: 9.6 years | |||
| Managers (Year): Bishop Alastair (2015), Hume Mark (2018) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 42 |
| % in Top 10 Holdings: | 71.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 36.0% |
Portfolio Allocation |
|
| Domestic Stock: | 63.1% |
| Foreign Stock: | 36.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.9% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | February 16, 2005 |
| Min. Initial Purchase: | $2,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.92% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.27% |
| Share Class: | BlackRock Energy Opportunities Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
