- ISIN
- US09260C6049
- CUSIP
- 09260C604
- Issuer
- BlackRock
- Inception Date
- Sep 29, 2011
- Category
- Nontraditional Bonds
- Min. Investment
- $2,000,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
BGCIX Performance Chart
BlackRock Global Long/Short Credit Fund (BGCIX) is up 1.4% since the beginning of the year. BGCIX is currently trading at $9 per share. Investors who bought $1,000 worth of BGCIX shares 5 years ago would now be looking at an investment worth $1,172.
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Returns By Period
BlackRock Global Long/Short Credit Fund (BGCIX) has returned 1.44% so far this year and 4.36% over the past 12 months. Over the last ten years, BGCIX has returned 4.24% per year, falling short of the S&P 500 Index benchmark, which averaged 13.71% annually.
BlackRock Global Long/Short Credit Fund
- 1D
- -0.11%
- 1M
- 0.44%
- YTD
- 1.44%
- 6M
- 1.66%
- 1Y
- 4.36%
- 3Y*
- 7.14%
- 5Y*
- 3.23%
- 10Y*
- 4.24%
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
BGCIX Monthly Returns History
Based on dividend-adjusted daily data since Oct 3, 2011, BGCIX's average daily return is +0.01%, while the average monthly return is +0.31%. At this rate, an investment would double in approximately 18.7 years.
Historically, 71% of months were positive and 29% were negative. The best month was Jun 2020 with a return of +7.6%, while the worst month was Mar 2020 at -7.3%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 6 months.
On a daily basis, BGCIX closed higher 33% of trading days. The best single day was Jun 16, 2020 with a return of +7.2%, while the worst single day was Apr 1, 2020 at -1.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.33% | 0.11% | -0.88% | 1.00% | 0.77% | 0.11% | 1.44% | ||||||
| 2025 | 1.11% | 0.88% | -0.87% | 0.33% | 1.54% | 0.86% | 0.86% | 0.32% | 0.74% | 0.21% | -0.00% | 0.41% | 6.55% |
| 2024 | 1.13% | 0.33% | 0.78% | -0.00% | 1.32% | 0.54% | 0.97% | 0.96% | 1.06% | 0.10% | 0.63% | 0.34% | 8.47% |
| 2023 | 1.90% | 0.35% | -0.81% | 1.64% | 0.12% | 0.46% | 0.69% | 0.45% | 0.45% | -0.34% | 1.81% | 1.86% | 8.87% |
| 2022 | -0.91% | -1.12% | -0.21% | -1.03% | -1.56% | -3.17% | 1.20% | 0.22% | -2.37% | -0.22% | 0.66% | 0.27% | -8.02% |
| 2021 | 0.81% | 1.20% | 0.00% | 0.69% | 0.39% | 0.49% | -0.39% | 0.29% | 0.00% | -0.39% | -0.29% | 0.64% | 3.48% |
Benchmark Metrics
BlackRock Global Long/Short Credit Fund has an annualized alpha of 3.32%, beta of 0.03, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since October 03, 2011.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (16.11%) than losses (12.25%) - typical of diversified or defensive assets.
- Beta of 0.03 may look defensive, but with R2 of 0.03 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 0.03 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
- 3.32%
- Beta
- 0.03
- R²
- 0.03
- Upside Capture
- 16.11%
- Downside Capture
- 12.25%
Expense Ratio
BGCIX has a high expense ratio of 1.12%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BGCIX ranks 96 for risk / return — in the top 96% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for BlackRock Global Long/Short Credit Fund (BGCIX) 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.
| BGCIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.56 | ||
| Sortino ratioReturn per unit of downside risk | +3.35 | ||
| Omega ratioGain probability vs. loss probability | 1.91 | 1.32 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 4.65 | 2.46 | +2.20 |
| Martin ratioReturn relative to average drawdown | 19.56 | 10.92 | +8.64 |
Dividends
Dividend History
BlackRock Global Long/Short Credit Fund provided a 5.74% dividend yield over the last twelve months, with an annual payout of $0.53 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.53 | $0.53 | $0.64 | $0.30 | $0.70 | $0.35 | $0.98 | $0.37 | $0.58 | $0.12 | $0.00 | $0.50 |
Dividend yield | 5.74% | 5.83% | 7.13% | 3.33% | 8.25% | 3.57% | 9.87% | 3.75% | 6.01% | 1.16% | 0.00% | 5.11% |
Monthly Dividends
The table displays the monthly dividend distributions for BlackRock Global Long/Short Credit Fund. 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 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.53 | $0.53 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.64 | $0.64 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.30 | $0.30 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.70 | $0.70 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.35 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the BlackRock Global Long/Short Credit Fund. 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 Long/Short Credit Fund was 10.37%, occurring on Mar 24, 2020. Recovery took 58 trading sessions.
The current BlackRock Global Long/Short Credit Fund drawdown is 0.11%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -10.37%Mar 2020 | 29d | 2mo 24d | 3mo 23dFeb 2020 - Jun 2020 |
Bear market2022 | -9.78%Oct 2022 | 1y 1mo | 1y 2mo | 2y 3moSep 2021 - Jan 2024 |
2016 pullback2016 | -4.71%Feb 2016 | 9mo 4d | 10mo 19d | 1y 7moMay 2015 - Dec 2016 |
Rate-hike selloffLate 2018 | -2.91%Dec 2018 | 8mo 7d | 3mo 9d | 11mo 16dApr 2018 - Apr 2019 |
2025 selloff2025 | -2.18%Apr 2025 | 1mo 6d | 1mo 3d | 2mo 9dMar 2025 - May 2025 |
Drawdown Indicators
| BGCIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.37% | -56.78% | +46.41% |
Max Drawdown (1Y)Largest decline over 1 year | -0.99% | -9.10% | +8.11% |
Max Drawdown (3Y)Largest decline over 3 years | -2.18% | -18.90% | +16.72% |
Max Drawdown (5Y)Largest decline over 5 years | -9.78% | -25.43% | +15.65% |
Max Drawdown (10Y)Largest decline over 10 years | -10.37% | -33.92% | +23.55% |
Current DrawdownCurrent decline from peak | -0.11% | -3.21% | +3.10% |
Average DrawdownAverage peak-to-trough decline | -1.27% | -10.71% | +9.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 2.04% | -1.80% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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