Summary
BlackRock Systematic Multi-Strategy Fund is a mutual fund run by BlackRock. It does not trade on an exchange: you buy it from the fund company at a price set once a day. Positions inside: 2,352. The ten largest make up 11% of the fund.
- Yearly costs
- 0.92%
- Fund size
- $7.24B
- Positions
- 2,352
- Dividend yield
- 3.51%
- Running since
- 2015
What speaks for it
- Widely spread: the ten largest positions make up only 11% of the fund.
- A large fund with $7.24B under management.
- It has been running since 2015.
What to watch
- Costs of 0.92% a year are above the middle of comparable funds (0.27%).
A fund has no Bulios Score and no Fair Price of its own - both are computed from the results of a single company. This page shows what is inside the fund and what it costs instead.
Price
Performance
- 1 month
- +2.6%
- 3 months
- +1.8%
- This year
- +1.3%
- 1 year
- +0.2%
- 3 years
- +6.7%
- 5 years
- -0.2%
- 10 years
- +5.6%
- Avg. market cap
- $56.7B
- P/E
- 15.9x
- Forward P/E
- 12.6x
- P/S
- 1.2x
- P/B
- 2.0x
- P/FCF
- 11.9x
- EV/EBITDA
- 8.7x
- Dividend yield
- 1.96%
- ROIC
- 13.7%
- ROE
- 28.7%
- Gross margin
- 38.4%
- Operating margin
- 19.7%
- Net margin
- 13.0%
- Payout ratio
- 31.1%
- Net debt/EBITDA
- 2.5x
- Beta
- 0.15
Weighted average of the 50 largest companies, which make up 25% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Widely spread- 1 TREASURY BILL 06/10/2027 1.7%
- 2 UMBS 30YR TBA(REG A) 2.00% 08/13/2026 1.3%
- 3 STACR_22-HQA1 M2 144A 8.87% 03/25/2042 1.2%
- 4 UMBS 30YR TBA(REG A) 2.50% 08/13/2026 1.1%
- 5 STACR_21-HQA1 B1 144A 6.62% 08/25/2033 1.1%
- 6 STACR_21-HQA4 B1 144A 7.37% 12/25/2041 1.0%
- 7 STACR_21-HQA3 B1 144A 6.97% 09/25/2041 1.0%
- 8 STACR_21-DNA7 B1 144A 7.27% 11/25/2041 1.0%
- 9 CAS_22-R01 1B1 144A 6.77% 12/25/2041 1.0%
- 10 TREASURY BILL 07/08/2027 1.0%
Positions in the fund: 2,352. The ten largest make up 11% of it.
Composition as of Oct 18, 2026.
Where is it spread?
Spread outBy country
- United States 8.5%
- Canada 1.4%
- United Kingdom 0.9%
- Ireland 0.7%
- Other countries 89%
Largest country: United States (8.5%).
What does it cost me?
Expensive- A year from $10,000
- $92.00
- Over 20 years
- $4,282
From every $10,000 invested the fund takes $92.00 a year. You do not pay it separately - it is taken out of the fund's value. Over 20 years at 5% yearly growth that adds up to about $4,282.
How has it done?
Growing slowly- A year on average, 10 years
- +0.5%
- Deepest drop
- -11%
- Yearly volatility
- 5.0%
Average yearly growth over the last ten years: 0.5%. Deepest drop in these years: 11% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 3.51%
- Payments a year
- 1
- Last payment
- $0.13
Over the last 12 months it paid $0.37 per share, which is 3.51% of today's price. The last payment was $0.13 on Jul 22, 2026.
How expensive are the companies inside?
Usual valuation- P/E of the companies inside
- 15.9
- Average Bulios Score
- 63 out of 100
Weight by Bulios Fair Price
- Undervalued 29%
- Fairly valued 20%
- Overvalued 51%
On average the companies inside trade for 15.9 times their yearly profit. By Fair Price, 51% of the rated weight comes out as overvalued.
Counted from its largest companies (50), which make up 25% of the fund. Each company counts by its weight. We use the metrics, the Bulios Score and the Fair Price of the companies themselves.