Fund Evaluator:
BlackRock LifePath® Dyn Retirement Inv A (LPRAX)
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Best Performing in Target-Date Retirement Over the Last Year
| 11.8% | Victory Target Retirement Income (URINX) |
| 11.4% | BlackRock LifePath ESG Index Ret Inv A (LERAX) |
| 11.3% | Putnam Retirement Advantage Maturity Y (PAETX) |
| 11.3% | BlackRock LifePath® Index Retire Inv A (LIRAX) |
| 11.0% | BlackRock LifePath® Dyn Retirement Inv A (LPRAX) |
Fund Details
BlackRock LifePath® Dyn Retirement Inv A Overview
BlackRock LifePath® Dyn Retirement Inv A (LPRAX) is an actively managed Allocation Target-Date Retirement fund. BlackRock launched the fund in 2001.
The investment seeks to provide for retirement outcomes based on quantitatively measured risk. The fund advisor allocates and reallocates the fund's assets among a combination of equity, bond and money market funds (the "underlying funds") and derivatives in proportions based on its own comprehensive investment strategy. Under normal circumstances, the manager intends to invest primarily in affiliated open-end funds and affiliated exchange-traded funds ("ETFs"), some of which may be index funds.
About BlackRock LifePath® Dyn Retirement Inv A (LPRAX)
There are 3 members of the management team with an average tenure of 5.97 years: Philip Green (2016), Michael Pensky (2024), Christopher Chung (2020). 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 Russell 1000 TR USD index with a weighting of 100%. BlackRock LifePath® Dyn Retirement Inv A has 64 securities in its portfolio. The top 10 holdings constitute 106.7% 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 LifePath® Dyn Retirement Inv A is part of the Allocation global asset class and is within the Allocation fund group. BlackRock LifePath® Dyn Retirement Inv A has 26.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 20.8%. There is 22.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 55.9% (52.4% domestic bond, 3.5% foreign bond and 0.0% convertible bond). BlackRock LifePath® Dyn Retirement Inv A has 21.4% of the portfolio in cash.
Assets Under Management
The fund has $125 million in total assets, which is below the $493 million average for the Target-Date Retirement 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.
LPRAX 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 LifePath® Dyn Retirement Inv A expense ratio is high compared to funds in the Target-Date Retirement category. BlackRock LifePath® Dyn Retirement Inv A has an expense ratio of 0.84%, which is 31% higher than its category average, making the fund expense ratio grade a D. 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 LifePath® Dyn Retirement Inv A has a portfolio turnover rate of 17%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 28% for the Target-Date Retirement category.
Recently, in the month of June 2026, BlackRock LifePath® Dyn Retirement Inv A returned -0.4%, which earned it a grade of F, as the Target-Date Retirement category had an average return of 0.1%. 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 LifePath® Dyn Retirement Inv A has a trailing yield of 2.68%, which is below the 3.18% 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 LifePath® Dyn Retirement Inv A Grades
Year to date, the fund has returned 5.4%, 0.8 percentage points better than the category, which translates into a grade of A. The fund has returned 11.0% over the past year (grade of A), 10.0% over the past three years (grade of A) and 4.3% per year over the past five years (grade of B) and 6.3% per year over the past 10 years (grade of A).
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LPRAX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| LPRAX Return (NAV) | -0.4% | 5.4% | 11.0% | 10.0% | 4.3% | 6.3% |
| LPRAX Grade | F | B | A | A | B | A |
| +/- Category | -0.5% | 0.4% | 1.2% | 1.2% | 0.4% | 1.2% |
| Target-Date Retirement Avg | 0.1% | 5.0% | 9.8% | 8.8% | 3.9% | 5.1% |
| LPRAX Tax Cost Ratio | na | na | 2.2% | 2.9% | 2.7% | 2.5% |
LPRAX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LPRAX Return (NAV) | 5.4% | 11.7% | 8.1% | 12.0% | -15.1% | 6.6% | 12.6% | 16.6% | -3.9% | 11.4% | 5.7% |
| LPRAX Grade | A | B | A | A | F | B | A | A | D | A | A |
| +/- Category | 0.8% | 1.1% | 1.7% | 1.9% | -2.5% | 1.2% | 3.5% | 3.9% | -0.6% | 2.6% | 0.7% |
| Target-Date Retirement Avg | 4.6% | 10.6% | 6.4% | 10.1% | -12.6% | 5.4% | 9.1% | 12.7% | -3.3% | 8.8% | 5.0% |
| Risk Measures | |
| Standard Deviation: | 7.7% |
| Total Risk Index: | 0.63 - Below Average |
| Category Risk Index: | 1.21 - High |
| Category Risk Grade: | F (97% Rank) |
| Beta: | 0.81 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.7% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $482 Mil |
| Fund Total Assets: | $ 126 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 17% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 9.7 years | |||
| Average Tenure: 6.0 years | |||
| Managers (Year): Green Philip (2016), Chung Christopher (2020), Pensky Michael (2024) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 64 |
| % in Top 10 Holdings: | 106.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 26.3% |
Portfolio Allocation |
|
| Domestic Stock: | 20.8% |
| Foreign Stock: | 22.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 52.4% |
| Foreign Bond: | 3.5% |
| Convertible Bond: | 0.0% |
| Other: | -21.0% |
| Cash: | 21.4% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | April 30, 2001 |
| Min. Initial Purchase: | $1,000 |
| 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: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.84% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.64% |
| Share Class: | BlackRock LifePath® Dyn Retirement Instl |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
