Fund Evaluator:
BlackRock Systematic Multi-Strat Inv C (BMBCX)
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Best Performing in Multistrategy Over the Last Year
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Fund Details
BlackRock Systematic Multi-Strat Inv C Overview
BlackRock Systematic Multi-Strat Inv C (BMBCX) is an actively managed Alternative Multistrategy fund. BlackRock launched the fund in 2015.
The investment seeks total return comprised of current income and capital appreciation. The fund seeks to achieve its investment objective by investing in a range of global asset classes, with a focus on fixed and floating rate debt securities and equity securities. It will normally invest in both U.S. and non-U.S. securities, including securities of companies located in emerging markets.
About BlackRock Systematic Multi-Strat Inv C (BMBCX)
There are 4 members of the management team with an average tenure of 8.46 years: Scott Radell (2015), Tom Parker (2015), Jeffrey Rosenberg (2018), Chad Meuse (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. BlackRock Systematic Multi-Strat Inv C has 4413 securities in its portfolio. The top 10 holdings constitute 80.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
BlackRock Systematic Multi-Strat Inv C is part of the Alternative Strategies global asset class and is within the Alternative fund group. BlackRock Systematic Multi-Strat Inv C has -9.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 15.5%. There is 2.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 135.2% (147.2% domestic bond, -12.1% foreign bond and 0.0% convertible bond). BlackRock Systematic Multi-Strat Inv C has -47.3% of the portfolio in cash.
Assets Under Management
The fund has $14 million in total assets, which is below the $511 million average for the Multistrategy 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.
BMBCX 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 Systematic Multi-Strat Inv C expense ratio is high compared to funds in the Multistrategy category. BlackRock Systematic Multi-Strat Inv C has an expense ratio of 1.90%, which is 7% lower than its category average, making the fund expense ratio grade a C. 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 Systematic Multi-Strat Inv C has a portfolio turnover rate of 270%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 289% for the Multistrategy category.
Recently, in the month of July 2026, BlackRock Systematic Multi-Strat Inv C returned 0.7%, which earned it a grade of C, as the Multistrategy category had an average return of 0.8%. 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 Systematic Multi-Strat Inv C has a trailing yield of 2.57%, which is below the 2.97% category average. The fund normally distributes its income semi-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 Systematic Multi-Strat Inv C Grades
Year to date, the fund has returned 0.7%, 4.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.2% over the past year (grade of F), 5.2% over the past three years (grade of F) and 2.6% per year over the past five years (grade of F) and 3.5% per year over the past 10 years (grade of D).
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BMBCX 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 |
|
| BMBCX Return (NAV) | 0.7% | 0.9% | 3.2% | 5.2% | 2.6% | 3.5% |
| BMBCX Grade | C | D | F | F | F | D |
| +/- Category | -0.1% | -0.9% | -7.6% | -2.5% | -2.8% | -0.2% |
| Multistrategy Avg | 0.8% | 1.8% | 10.8% | 7.7% | 5.3% | 3.7% |
| BMBCX Tax Cost Ratio | na | na | 1.0% | 1.2% | 1.2% | 1.3% |
BMBCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BMBCX Return (NAV) | 0.7% | 3.9% | 5.9% | 5.5% | -4.0% | 5.2% | 2.6% | 7.4% | 0.8% | 8.9% | 4.8% |
| BMBCX Grade | F | D | D | C | C | C | D | C | A | A | A |
| +/- Category | -4.6% | -3.9% | -0.3% | -0.9% | -3.5% | -1.1% | 0.6% | 0.5% | 5.6% | 3.9% | 2.9% |
| Multistrategy Avg | 5.3% | 7.8% | 6.1% | 6.4% | -0.4% | 6.2% | 2.0% | 7.0% | -4.9% | 5.0% | 2.0% |
| Risk Measures | |
| Standard Deviation: | 4.7% |
| Total Risk Index: | 0.38 - Low |
| Category Risk Index: | 0.83 - Average |
| Category Risk Grade: | C (41% Rank) |
| Beta: | 0.14 |
| R-Squared: | 15% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 2.6% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $7908 Mil |
| Fund Total Assets: | $ 14 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 270% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 11.2 years | |||
| Average Tenure: 8.5 years | |||
| Managers (Year): Radell Scott (2015), Parker Tom (2015), Rosenberg Jeffrey (2018), Meuse Chad (2023) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 4413 |
| % in Top 10 Holdings: | 80.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | -9.6% |
Portfolio Allocation |
|
| Domestic Stock: | 15.5% |
| Foreign Stock: | 2.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 147.2% |
| Foreign Bond: | -12.1% |
| Convertible Bond: | 0.0% |
| Other: | -5.9% |
| Cash: | -47.3% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: |
| Status: | Open |
| Inception Date: | May 19, 2015 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.90% ( Rating : High ) |
| Category Average Expense Ratio (%): | 2.05% |
| Share Class: | BlackRock Systematic Multi-Strat Instl |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
