Fund Evaluator:
BlackRock Emerging Markets Ex-Chn Inst (MAECX)
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Best Performing in Diversified Emerging Mkts Over the Last Year
| 65.7% | Invesco Emerging Markets ex-China Y (GTDYX) |
| 64.1% | WCM Focused Emerging Mkts Ex Chn Inv (WCFEX) |
| 52.6% | Matthews Emerging Markets Sust Fut Inv (MASGX) |
| 48.9% | LSV Emerging Markets Equity Inv (LVAZX) |
| 47.7% | Lazard Emerging Markets Equity Instl (LZEMX) |
Fund Details
BlackRock Emerging Markets Ex-Chn Inst Overview
BlackRock Emerging Markets Ex-Chn Inst (MAECX) is an actively managed International Equity Diversified Emerging Mkts fund. BlackRock launched the fund in 2023.
The investment seeks long-term capital appreciation by investing in securities of issuers in countries having developing capital markets (other than China). Under normal market conditions, the fund invests at least 80% of its net assets plus any borrowings for investment purposes in securities of issuers located in countries with emerging capital markets (other than China), and derivatives with similar economic characteristics. The fund can invest in securities denominated in either U.S. dollars or foreign currencies. The fund is non-diversified.
About BlackRock Emerging Markets Ex-Chn Inst (MAECX)
There are 1 members of the management team with an average tenure of 1.38 years: Egon Vavrek (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EM ex China NR USD index with a weighting of 100%. BlackRock Emerging Markets Ex-Chn Inst has 85 securities in its portfolio. The top 10 holdings constitute 50.1% 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 Emerging Markets Ex-Chn Inst is part of the Equity global asset class and is within the International Equity fund group. BlackRock Emerging Markets Ex-Chn Inst has 97.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.6%. There is 97.1% allocated to foreign stock, and 0.2% 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 Emerging Markets Ex-Chn Inst has 1.1% of the portfolio in cash.
Assets Under Management
The fund has $12 million in total assets, which is below the $992 million average for the Diversified Emerging Mkts 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.
MAECX 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 Emerging Markets Ex-Chn Inst expense ratio is high compared to funds in the Diversified Emerging Mkts category. BlackRock Emerging Markets Ex-Chn Inst has an expense ratio of 0.87%, which is 25% lower than its category average, making the fund expense ratio grade a A. 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 Emerging Markets Ex-Chn Inst has a portfolio turnover rate of 81%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of August 2026, BlackRock Emerging Markets Ex-Chn Inst returned 7.3%, which earned it a grade of A, as the Diversified Emerging Mkts category had an average return of 3.9%. 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 Emerging Markets Ex-Chn Inst has a trailing yield of 3.62%, which is above the 1.65% 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 Emerging Markets Ex-Chn Inst Grades
Year to date, the fund has returned 40.7%, 16.9 percentage points better than the category, which translates into a grade of A. The fund has returned 63.7% over the past year (grade of A) and 25.2% over the past three years (grade of B).
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MAECX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MAECX Return (NAV) | 7.3% | -2.5% | 63.7% | 25.2% | na | na |
| MAECX Grade | A | D | A | B | na | na |
| +/- Category | 3.4% | -1.4% | 26.2% | 3.5% | na | na |
| Diversified Emerging Mkts Avg | 3.9% | -1.2% | 37.5% | 21.7% | 6.8% | 8.9% |
| MAECX Tax Cost Ratio | na | na | 1.6% | 1.6% | na | na |
MAECX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MAECX Return (NAV) | 40.7% | 31.7% | -3.5% | na | na | na | na | na | na | na | na |
| MAECX Grade | A | C | F | na | na | na | na | na | na | na | na |
| +/- Category | 16.9% | 0.3% | -9.7% | na | na | na | na | na | na | na | na |
| Diversified Emerging Mkts Avg | 23.7% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.7% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 22.6% |
| Total Risk Index: | 1.86 - High |
| Category Risk Index: | 1.39 - High |
| Category Risk Grade: | F (100% Rank) |
| Beta: | 1.39 |
| R-Squared: | 68% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 3.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $17 Mil |
| Fund Total Assets: | $ 12 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 81% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 1.4 years | |||
| Average Tenure: 1.4 years | |||
| Managers (Year): Vavrek Egon (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 85 |
| % in Top 10 Holdings: | 50.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 97.1% |
Portfolio Allocation |
|
| Domestic Stock: | 1.6% |
| Foreign Stock: | 97.1% |
| Preferred Stock: | 0.2% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.1% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | March 30, 2023 |
| 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 (%): | 0.87% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | BlackRock Emerging Markets Ex-China K |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
