- ISIN
- US0919365421
- CUSIP
- 091936542
- Issuer
- BlackRock
- Inception Date
- Dec 20, 2012
- Region
- Global (Broad)
- Category
- Equity Market Neutral
- Min. Investment
- $1,000
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
BDMAX Performance Chart
BlackRock Global Equity Market Neutral Fund Investor A (BDMAX) is up 12.7% since the beginning of the year. BDMAX is currently trading at $15 per share. Investors who bought $1,000 worth of BDMAX shares 5 years ago would now be looking at an investment worth $1,846.
Loading charts...
Compare this symbol against anything
Returns By Period
BlackRock Global Equity Market Neutral Fund Investor A (BDMAX) has returned 12.73% so far this year and 24.19% over the past 12 months. Over the last ten years, BDMAX has returned 8.29% per year, falling short of the S&P 500 Index benchmark, which averaged 13.29% annually.
BlackRock Global Equity Market Neutral Fund Investor A
- 1D
- 0.81%
- 1M
- 2.45%
- 6M
- 10.71%
- YTD
- 12.73%
- 1Y
- 24.19%
- 3Y*
- 20.40%
- 5Y*
- 13.04%
- 10Y*
- 8.29%
- ALL TIME*
- 6.66%
Benchmark (S&P 500 Index)
- 1D
- 1.48%
- 1M
- 1.57%
- 6M
- 8.95%
- YTD
- 11.03%
- 1Y
- 21.84%
- 3Y*
- 19.28%
- 5Y*
- 11.54%
- 10Y*
- 13.29%
- ALL TIME*
- 8.11%
BDMAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2013, BDMAX's average daily return is +0.03%, while the average monthly return is +0.55%. At this rate, an investment would double in approximately 10.5 years.
Historically, 64% of months were positive and 36% were negative. The best month was Jan 2024 with a return of +4.3%, while the worst month was Feb 2016 at -4.0%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, BDMAX closed higher 48% of trading days. The best single day was Mar 4, 2013 with a return of +1.7%, while the worst single day was Mar 17, 2020 at -2.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.98% | 1.60% | 1.57% | 2.90% | 3.21% | -0.44% | 2.32% | 12.73% | |||||
| 2025 | 1.82% | 0.15% | 2.97% | 1.80% | 1.77% | -0.56% | -0.98% | 3.27% | 3.74% | -1.94% | 1.06% | 3.84% | 18.08% |
| 2024 | 4.27% | 1.00% | 3.90% | 1.33% | 1.53% | 3.22% | 2.23% | -1.89% | 1.11% | 0.88% | 0.51% | 1.37% | 21.12% |
| 2023 | 2.32% | -0.92% | 0.85% | 0.42% | -1.76% | 3.15% | 1.12% | -0.25% | 2.06% | 2.18% | 3.64% | 0.73% | 14.27% |
| 2022 | 0.35% | -1.74% | 0.09% | -0.09% | -1.06% | 0.09% | -0.09% | -0.89% | 1.90% | -0.53% | 1.87% | 1.75% | 1.57% |
| 2021 | 1.78% | 2.62% | 1.19% | -0.59% | 1.18% | -1.42% | -0.24% | -1.46% | -1.31% | 0.80% | 0.18% | 0.44% | 3.11% |
Benchmark Metrics
BlackRock Global Equity Market Neutral Fund Investor A has an annualized alpha of 6.22%, beta of 0.04, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since January 02, 2013.
- This fund captured 17.13% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -10.88%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.04 may look defensive, but with R2 of 0.02 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.02 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 6.22%
- Beta
- 0.04
- R²
- 0.02
- Upside Capture
- 17.13%
- Downside Capture
- -10.88%
Expense Ratio
BDMAX has a high expense ratio of 1.59%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BDMAX ranks 97 for risk / return — above 97% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for BlackRock Global Equity Market Neutral Fund Investor A (BDMAX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BDMAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.31 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 7.50 | 2.41 | +5.09 |
| Martin ratioReturn relative to average drawdown | 19.83 | 10.22 | +9.61 |
Dividends
Dividend History
BlackRock Global Equity Market Neutral Fund Investor A provided a 11.57% dividend yield over the last twelve months, with an annual payout of $1.72 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.72 | $1.27 | $1.77 | $0.89 | $0.00 | $0.14 | $0.00 | $0.74 | $0.10 | $0.00 | $0.00 | $0.18 |
Dividend yield | 11.57% | 8.94% | 13.39% | 7.14% | 0.00% | 1.25% | 0.04% | 6.60% | 0.85% | 0.00% | 0.00% | 1.56% |
Monthly Dividends
The table displays the monthly dividend distributions for BlackRock Global Equity Market Neutral Fund Investor A. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.15 | $1.15 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.70 | $0.00 | $0.00 | $0.00 | $0.00 | $0.58 | $1.27 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.98 | $0.00 | $0.00 | $0.00 | $0.00 | $0.79 | $1.77 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.00 | $0.00 | $0.79 | $0.89 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the BlackRock Global Equity Market Neutral Fund Investor A. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the BlackRock Global Equity Market Neutral Fund Investor A was 12.37%, occurring on Sep 12, 2016. Recovery took 274 trading sessions.
The current BlackRock Global Equity Market Neutral Fund Investor A drawdown is 0.35%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-12.37%Sep 2016 | 1y 11mo | 1y 1mo | 3y 12dOct 2014 - Oct 2017 | — |
-9.71%Mar 2020 | 9mo 24d | 1y 8d | 1y 10moMay 2019 - Mar 2021 | COVID crash2020 |
-7.72%Aug 2022 | 1y 3mo | 5mo 29d | 1y 8moMay 2021 - Feb 2023 | Bear market2022 |
-5.00%Mar 2018 | 1mo 22d | 2mo 28d | 4mo 20dJan 2018 - Jun 2018 | — |
-4.80%May 2014 | 2mo 27d | 4mo 26d | 7mo 23dFeb 2014 - Sep 2014 | — |
Drawdown Indicators
| BDMAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.37% | -56.78% | +44.41% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -9.10% | +5.85% |
Max Drawdown (3Y)Largest decline over 3 years | -4.15% | -18.90% | +14.75% |
Max Drawdown (5Y)Largest decline over 5 years | -5.56% | -25.43% | +19.87% |
Max Drawdown (10Y)Largest decline over 10 years | -9.71% | -33.92% | +24.21% |
Current DrawdownCurrent decline from peak | -0.35% | -0.12% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -2.80% | -10.70% | +7.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 2.14% | -0.91% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with BDMAX
Add BlackRock Global Equity Market Neutral Fund Investor A to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with BDMAX