- ISIN
- US0919366668
- CUSIP
- 091936666
- Issuer
- BlackRock
- Inception Date
- Oct 2, 2011
- Category
- Commodities
- Min. Investment
- $2,000,000
- Distribution Policy
- Distributing
- Asset Class
- Commodity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
BICSX Performance Chart
BlackRock Commodity Strategies Portfolio (BICSX) is up 12.9% since the beginning of the year. BICSX is currently trading at $12 per share. Investors who bought $1,000 worth of BICSX shares 5 years ago would now be looking at an investment worth $1,728.
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Returns By Period
BlackRock Commodity Strategies Portfolio (BICSX) has returned 12.85% so far this year and 27.44% over the past 12 months. Over the last ten years, BICSX has returned 8.46% per year, falling short of the S&P 500 Index benchmark, which averaged 13.54% annually.
BlackRock Commodity Strategies Portfolio
- 1D
- -1.35%
- 1M
- -6.63%
- YTD
- 12.85%
- 6M
- 13.95%
- 1Y
- 27.44%
- 3Y*
- 14.22%
- 5Y*
- 11.56%
- 10Y*
- 8.46%
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.34%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
BICSX Monthly Returns History
Based on dividend-adjusted daily data since Oct 4, 2011, BICSX's average daily return is +0.02%, while the average monthly return is +0.39%. At this rate, an investment would double in approximately 14.8 years.
Historically, 51% of months were positive and 49% were negative. The best month was Oct 2011 with a return of +12.3%, while the worst month was Mar 2020 at -12.2%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 7 months.
On a daily basis, BICSX closed higher 49% of trading days. The best single day was Mar 24, 2020 with a return of +6.5%, while the worst single day was Mar 9, 2020 at -7.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 10.82% | 6.89% | 1.63% | 1.77% | -3.15% | -4.89% | 12.85% | ||||||
| 2025 | 4.09% | 1.27% | 3.42% | -2.43% | 2.04% | 2.55% | -0.43% | 5.30% | 3.88% | -0.71% | 4.78% | 2.03% | 28.70% |
| 2024 | -2.91% | -1.38% | 7.22% | 2.01% | 2.67% | -2.37% | 0.52% | 1.28% | 1.96% | -0.90% | -0.11% | -3.22% | 4.38% |
| 2023 | 3.19% | -5.77% | 0.77% | 0.65% | -7.11% | 3.60% | 5.03% | -1.93% | -1.51% | -1.30% | 1.19% | -0.50% | -4.32% |
| 2022 | 5.86% | 5.33% | 7.59% | 0.09% | 2.35% | -11.83% | 2.54% | -0.95% | -7.55% | 6.44% | 6.26% | -2.77% | 11.90% |
| 2021 | 1.16% | 6.64% | 0.00% | 5.99% | 4.07% | -0.22% | -0.20% | -0.67% | 2.80% | 3.93% | -6.09% | 3.68% | 22.44% |
Benchmark Metrics
BlackRock Commodity Strategies Portfolio has an annualized alpha of -2.61%, beta of 0.51, and R2 of 0.34 versus S&P 500 Index. Calculated based on daily prices since October 04, 2011.
- This fund participated in 74.96% of S&P 500 Index downside but only 44.86% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.51 may look defensive, but with R2 of 0.34 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 0.34 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -2.61%
- Beta
- 0.51
- R²
- 0.34
- Upside Capture
- 44.86%
- Downside Capture
- 74.96%
Expense Ratio
BICSX has an expense ratio of 0.72%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BICSX ranks 52 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for BlackRock Commodity Strategies Portfolio (BICSX) 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.
| BICSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.35 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 2.66 | +0.41 |
| Martin ratioReturn relative to average drawdown | 12.49 | 11.86 | +0.62 |
Dividends
Dividend History
BlackRock Commodity Strategies Portfolio provided a 2.74% dividend yield over the last twelve months, with an annual payout of $0.32 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.32 | $0.32 | $0.30 | $0.77 | $0.85 | $0.25 | $0.06 | $0.15 | $0.14 | $0.05 | $0.07 |
Dividend yield | 2.74% | 3.09% | 3.60% | 9.39% | 9.05% | 2.68% | 0.80% | 2.03% | 2.12% | 0.65% | 0.94% |
Monthly Dividends
The table displays the monthly dividend distributions for BlackRock Commodity Strategies Portfolio. 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 | $0.15 | $0.00 | $0.00 | $0.00 | $0.00 | $0.17 | $0.32 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.00 | $0.00 | $0.17 | $0.30 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.58 | $0.00 | $0.00 | $0.00 | $0.00 | $0.19 | $0.77 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.70 | $0.00 | $0.00 | $0.00 | $0.00 | $0.16 | $0.85 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.00 | $0.00 | $0.06 | $0.25 |
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 Commodity Strategies Portfolio. 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 Commodity Strategies Portfolio was 51.59%, occurring on Mar 18, 2020. Recovery took 491 trading sessions.
The current BlackRock Commodity Strategies Portfolio drawdown is 8.82%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -51.59%Mar 2020 | 8y 22d | 1y 11mo | 10y 4dFeb 2012 - Feb 2022 |
Bear market2022 | -22.35%Sep 2022 | 5mo 10d | 2y 8mo | 3y 2moApr 2022 - Jun 2025 |
2011 correction2011 | -10.70%Dec 2011 | 1mo 19d | 2mo 5d | 3mo 24dOct 2011 - Feb 2012 |
2026 pullback2026 | -8.82%Jun 2026 | 1mo 6d | — | 1mo 9dMay 2026 - now |
2026 pullback2026 | -6.27%Feb 2026 | 3d | 21d | 24dJan 2026 - Feb 2026 |
Drawdown Indicators
| BICSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.59% | -56.78% | +5.19% |
Max Drawdown (1Y)Largest decline over 1 year | -8.82% | -9.10% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -10.53% | -18.90% | +8.37% |
Max Drawdown (5Y)Largest decline over 5 years | -22.35% | -25.43% | +3.08% |
Max Drawdown (10Y)Largest decline over 10 years | -35.82% | -33.92% | -1.90% |
Current DrawdownCurrent decline from peak | -8.82% | -2.49% | -6.33% |
Average DrawdownAverage peak-to-trough decline | -20.47% | -10.72% | -9.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 2.03% | +0.15% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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