Fund Evaluator:
BlackRock 80/20 Target Allocation R (BRAPX)
Follow This Fund
Best Performing in Moderately Aggressive Allocation Over the Last Year
| 27.7% | Bruce (BRUFX) |
| 22.9% | Poplar Forest Cornerstone Investor (IPFCX) |
| 21.3% | Fidelity Advisor Strategic Div & Inc Z (FIQWX) |
| 21.3% | Fidelity Strategic Dividend & Income (FSDIX) |
| 19.0% | Columbia Capital Allocation Agrsv Inst (CPAZX) |
Fund Details
BlackRock 80/20 Target Allocation R Overview
BlackRock 80/20 Target Allocation R (BRAPX) is an actively managed Allocation Moderately Aggressive Allocation fund. BlackRock launched the fund in 2006.
The investment seeks long term capital appreciation. The fund, which is a fund of funds, normally obtains exposure to equity securities in an amount equal to 80% of its assets and exposure to fixed-income securities in an amount equal to 20% of its assets. Under normal circumstances, the advisor intends to invest primarily in affiliated open-end funds and affiliated ETFs. The fund may have indirect exposure to derivative instruments through its investments in certain underlying funds.
About BlackRock 80/20 Target Allocation R (BRAPX)
There are 3 members of the management team with an average tenure of 6.74 years: Michael Gates (2015), Lisa O'Connor (2019), Suzanne Ly (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 4 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100%, MSCI USA NR USD index with a weighting of 24%, Bloomberg US Universal TR USD index with a weighting of 20% and MSCI ACWI NR USD index with a weighting of 56%. BlackRock 80/20 Target Allocation R has 21 securities in its portfolio. The top 10 holdings constitute 80.9% 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 80/20 Target Allocation R is part of the Allocation global asset class and is within the Allocation fund group. BlackRock 80/20 Target Allocation R has 11.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 63.5%. There is 8.0% allocated to foreign stock, and 0.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 21.2% (17.7% domestic bond, 3.6% foreign bond and 0.0% convertible bond). BlackRock 80/20 Target Allocation R has -0.9% of the portfolio in cash.
Assets Under Management
The fund has $62 million in total assets, which is below the $570 million average for the Moderately Aggressive Allocation 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.
BRAPX 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 80/20 Target Allocation R expense ratio is high compared to funds in the Moderately Aggressive Allocation category. BlackRock 80/20 Target Allocation R has an expense ratio of 0.82%, which is 20% 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 80/20 Target Allocation R has a portfolio turnover rate of 52%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 34% for the Moderately Aggressive Allocation category.
Recently, in the month of July 2026, BlackRock 80/20 Target Allocation R returned -1.8%, which earned it a grade of F, as the Moderately Aggressive Allocation category had an average return of -0.4%. 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 80/20 Target Allocation R has a trailing yield of 1.40%, which is below the 1.47% 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 80/20 Target Allocation R Grades
Year to date, the fund has returned 9.8%, 0.0 percentage points better than the category, which translates into a grade of B. The fund has returned 18.8% over the past year (grade of B), 15.2% over the past three years (grade of C) and 8.7% per year over the past five years (grade of C) and 10.4% per year over the past 10 years (grade of C).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about BlackRock 80/20 Target Allocation R, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
BRAPX 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 |
|
| BRAPX Return (NAV) | -1.8% | 3.4% | 18.8% | 15.2% | 8.7% | 10.4% |
| BRAPX Grade | F | B | B | C | C | C |
| +/- Category | -1.4% | 0.0% | 0.4% | 0.1% | -0.0% | 0.2% |
| Moderately Aggressive Allocation Avg | -0.4% | 3.4% | 18.4% | 15.1% | 8.7% | 10.2% |
| BRAPX Tax Cost Ratio | na | na | 1.7% | 1.8% | 1.5% | 1.2% |
BRAPX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BRAPX Return (NAV) | 9.8% | 17.8% | 14.2% | 18.4% | -16.6% | 14.3% | 19.0% | 24.1% | -8.2% | 16.9% | 6.4% |
| BRAPX Grade | B | B | D | C | C | F | A | B | D | C | F |
| +/- Category | 0.0% | 1.8% | -1.5% | 1.8% | -0.8% | -3.7% | 6.0% | 1.5% | -1.2% | -0.3% | -2.9% |
| Moderately Aggressive Allocation Avg | 9.8% | 16.0% | 15.7% | 16.5% | -15.7% | 18.1% | 13.0% | 22.6% | -7.0% | 17.2% | 9.3% |
| Risk Measures | |
| Standard Deviation: | 11.5% |
| Total Risk Index: | 0.94 - Average |
| Category Risk Index: | 1.03 - High |
| Category Risk Grade: | F (80% Rank) |
| Beta: | 1.15 |
| R-Squared: | 88% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2684 Mil |
| Fund Total Assets: | $ 62 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 52% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 11.2 years | |||
| Average Tenure: 6.7 years | |||
| Managers (Year): Gates Michael (2015), O'Connor Lisa (2019), Ly Suzanne (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 21 |
| % in Top 10 Holdings: | 80.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 11.6% |
Portfolio Allocation |
|
| Domestic Stock: | 63.5% |
| Foreign Stock: | 8.0% |
| Preferred Stock: | 0.2% |
| Domestic Bond: | 17.7% |
| Foreign Bond: | 3.6% |
| Convertible Bond: | 0.0% |
| Other: | 7.9% |
| Cash: | -0.9% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | December 21, 2006 |
| Min. Initial Purchase: | $ 100 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.50% |
Expenses and Fees | |
| Expense Ratio (%): | 0.82% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.03% |
| Share Class: | BlackRock 80/20 Target Allocation Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
