Fund Evaluator:
BlackRock Natural Resources Inv C (MCGRX)
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Fund Details
BlackRock Natural Resources Inv C Overview
BlackRock Natural Resources Inv C (MCGRX) is an actively managed Sector Equity Natural Resources fund. BlackRock launched the fund in 1994.
The investment seeks long-term growth of capital and to protect the purchasing power of shareholders' capital. The fund seeks to achieve its objective by investing primarily in equity securities of companies with substantial natural resource assets. Under normal circumstances, it will invest at least 80% of its assets in companies with substantial natural resource assets or in securities the value of which is related to the market value of some natural resource asset.
About BlackRock Natural Resources Inv C (MCGRX)
There are 2 members of the management team with an average tenure of 9.42 years: Thomas Holl (2017), Alastair Bishop (2017). 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 S&P Global Natural Resources NR USD index with a weighting of 100%. BlackRock Natural Resources Inv C has 52 securities in its portfolio. The top 10 holdings constitute 49.8% 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 Natural Resources Inv C is part of the Equity global asset class and is within the Sector Equity fund group. BlackRock Natural Resources Inv C has 52.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 45.7%. There is 52.7% 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 Natural Resources Inv C has 1.6% of the portfolio in cash.
Assets Under Management
The fund has $8 million in total assets, which is below the $246 million average for the Natural Resources 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.
MCGRX 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 Natural Resources Inv C expense ratio is high compared to funds in the Natural Resources category. BlackRock Natural Resources Inv C has an expense ratio of 1.89%, which is 65% higher than its category average, making the fund expense ratio grade a F. 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 Natural Resources Inv C has a portfolio turnover rate of 90%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 61% for the Natural Resources category.
Recently, in the month of August 2026, BlackRock Natural Resources Inv C returned 9.7%, which earned it a grade of B, as the Natural Resources category had an average return of 7.7%. 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 Natural Resources Inv C has a trailing yield of 1.93%, which is below the 2.01% 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 Natural Resources Inv C Grades
Year to date, the fund has returned 24.9%, 2.4 percentage points better than the category, which translates into a grade of C. The fund has returned 37.4% over the past year (grade of D), 15.6% over the past three years (grade of C) and 14.1% per year over the past five years (grade of C) and 9.6% per year over the past 10 years (grade of C).
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MCGRX 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 |
|
| MCGRX Return (NAV) | 9.7% | 8.6% | 37.4% | 15.6% | 14.1% | 9.6% |
| MCGRX Grade | B | A | D | C | C | C |
| +/- Category | 2.0% | 5.0% | 1.9% | -0.0% | 0.8% | -0.7% |
| Natural Resources Avg | 7.7% | 3.6% | 35.5% | 15.6% | 13.3% | 10.3% |
| MCGRX Tax Cost Ratio | na | na | 6.1% | 3.9% | 3.8% | 3.9% |
MCGRX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MCGRX Return (NAV) | 24.9% | 29.0% | -4.2% | -2.3% | 16.4% | 29.3% | 2.0% | 14.1% | -18.6% | 7.0% | 25.4% |
| MCGRX Grade | C | C | F | D | C | B | D | D | C | D | D |
| +/- Category | 2.4% | 0.4% | -3.7% | -5.7% | 8.4% | -1.5% | -7.5% | -0.8% | 1.9% | -6.1% | -3.2% |
| Natural Resources Avg | 22.5% | 28.6% | -0.5% | 3.4% | 8.0% | 30.8% | 9.6% | 14.8% | -20.5% | 13.1% | 28.6% |
| Risk Measures | |
| Standard Deviation: | 16.4% |
| Total Risk Index: | 1.35 - High |
| Category Risk Index: | 0.91 - Below Average |
| Category Risk Grade: | B (32% Rank) |
| Beta: | 0.41 |
| R-Squared: | 10% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.9% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $203 Mil |
| Fund Total Assets: | $ 8 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 90% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 9.4 years | |||
| Average Tenure: 9.4 years | |||
| Managers (Year): Holl Thomas (2017), Bishop Alastair (2017) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 52 |
| % in Top 10 Holdings: | 49.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 52.7% |
Portfolio Allocation |
|
| Domestic Stock: | 45.7% |
| Foreign Stock: | 52.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.6% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | October 21, 1994 |
| 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 (%): | 1.89% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | BlackRock Natural Resources Instl |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
