Total return: distributions reinvested. In USD, the currency of the share class shown. Benchmark line not shown: price history held back: source clearance pending. Fund history to 29.09.2026. Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.
Performance against the benchmark
1M
3M
6M
YTD
2025
2024
2023
1Y
3Y
5Y
Volatility
Sharpe R.
Max DD
FundISIN LU1373035408, currency USD, retail share class
-2.29
2.43
6.56
11.95
13.92
17.30
14.50
20.56
14.40
13.00
6.35
1.44
-3.13
BenchmarkSOFR 3-month USD
0.31
0.95
1.88
2.49
4.40
5.40
5.18
3.93
4.70
3.82
0.21
0.71
0.00
Differencefund minus benchmark, in percentage points
-2.61
1.48
4.68
9.46
9.52
11.90
9.32
16.63
9.70
9.18
–
–
–
Within the list: OpenList — Alternatives
Compared with the alternative funds on OpenList — Alternatives (25 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.
This fund
Group median
Position
Return 1Y
20.56
9.40
2 of 25
Return 3Y p.a.
14.40
11.35
7 of 25
3Y p.a. over its own benchmark
9.70
2.46
4 of 25
Volatility 3Y
6.35
5.42
19 of 25
Sharpe ratio 3Y
1.44
1.34
9 of 25
Max drawdown 3Y
-3.13
-3.40
10 of 25
Management fee
0.55%
1.01%
4 of 23 (2 without a value)
Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.
Return against risk, 3 years
WSP commentary
Draft commentary, machine-generated from the fund's monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
The fund is a multi-asset absolute return strategy that aims to deliver a positive return through capital growth and income regardless of market conditions. With a summary risk indicator of 3 out of 7 and a recommended holding period of 5 years, it is positioned for investors seeking a medium-low risk diversified strategy rather than a traditional long-only market exposure. It is intended for retail investors who have knowledge and/or experience of these types of products, have obtained appropriate investment advice, and can bear losses up to the amount invested. Its distinct role is as a satellite-style allocation built around systematic exposure to Value, Momentum, Carry and Defensive styles across global asset classes.
Investment strategy
The fund’s stated objective is to achieve a positive absolute return through a combination of capital growth and income on a global basis regardless of market conditions. It can invest in equity securities, other equity-related securities, fixed income securities, other fixed-income related securities, money market instruments, deposits, cash and other funds, including fixed income securities across the full credit spectrum, including relatively low-rated or unrated issues. The fund may invest significantly in financial derivative instruments, including total return swaps and contracts for difference, and the investment adviser intends to generate market leverage through derivatives; at any time, a substantial amount or even all assets may be held in cash. The share class is accumulating, trades daily on a forward pricing basis with settlement on trade date plus 3 days, and uses 3 month SOFR Compounded in Arrears plus the ISDA spread of 26.1 basis points as a comparator for performance comparison. The recommended holding period is 5 years.
Investment philosophy
• The fund follows a systematic, rule-based investment approach and uses quantitative mathematical or statistical models to select investments.
• Portfolio construction is designed to provide exposure to four stated investment styles: Value, Momentum, Carry and Defensive.
• The investment universe is global and spans equities, equity-related securities, fixed income securities, fixed-income related securities, money market instruments, deposits, cash and other funds.
• Derivatives are an important implementation tool: the fund may use financial derivative instruments extensively, including total return swaps and contracts for difference, and may generate market exposure in excess of its asset value through leverage.
• The investment adviser has discretion over investment selection, the fixed income allocation can include lower-rated or unrated securities, and the portfolio may at times hold a substantial amount or even all assets in cash.
Management team
The named portfolio managers are Philip Hodges and Jeff Shen. The documents identify them as the portfolio managers for the fund.
The asset manager
The management company is BlackRock (Luxembourg) S.A. The Key Information Document states that the manager is part of the BlackRock, Inc. group and is authorised in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier. The fund is a sub-fund of BlackRock Strategic Funds, a Luxembourg-domiciled UCITS umbrella structure.
Strengths
The fund combines a global multi-asset opportunity set with a systematic style-factor framework spanning Value, Momentum, Carry and Defensive exposures. Its absolute return objective and ability to invest across equities, fixed income, money markets, cash and other funds make it structurally broader than a single-asset strategy. The mandate also allows significant use of derivatives, including total return swaps and contracts for difference, and permits market leverage, which gives the manager flexible implementation tools. Daily dealing and an accumulating share class structure may also distinguish it for investors seeking ongoing reinvestment rather than income distribution.
Risks
The fund has a summary risk indicator of 3 out of 7, classified as medium low risk, though this is not guaranteed and may change over time. The documents identify market risk from equities and equity-related securities, interest-rate and credit risk from fixed income holdings, and heightened sensitivity in non-investment grade securities as well as ABS and MBS. Derivatives risk is significant because the fund may use financial derivative instruments extensively, including total return swaps and contracts for difference, and may generate leverage, making the portfolio highly sensitive to changes in underlying asset values. Additional named risks include counterparty risk, liquidity risk, emerging markets risk, currency risk for investors receiving payments in another currency, and the risk that an absolute return approach may not move in line with market trends or fully benefit from positive markets.
WSP report
Ask WSP which research is available for this fund and what it covers.
Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years. – means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero. Period figures as of 31.08.2026.
This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative
WSP commentary
Draft commentary, machine-generated from the fund's monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
The fund is a multi-asset absolute return strategy that aims to deliver a positive return through capital growth and income regardless of market conditions. With a summary risk indicator of 3 out of 7 and a recommended holding period of 5 years, it is positioned for investors seeking a medium-low risk diversified strategy rather than a traditional long-only market exposure. It is intended for retail investors who have knowledge and/or experience of these types of products, have obtained appropriate investment advice, and can bear losses up to the amount invested. Its distinct role is as a satellite-style allocation built around systematic exposure to Value, Momentum, Carry and Defensive styles across global asset classes.
Investment strategy
The fund’s stated objective is to achieve a positive absolute return through a combination of capital growth and income on a global basis regardless of market conditions. It can invest in equity securities, other equity-related securities, fixed income securities, other fixed-income related securities, money market instruments, deposits, cash and other funds, including fixed income securities across the full credit spectrum, including relatively low-rated or unrated issues. The fund may invest significantly in financial derivative instruments, including total return swaps and contracts for difference, and the investment adviser intends to generate market leverage through derivatives; at any time, a substantial amount or even all assets may be held in cash. The share class is accumulating, trades daily on a forward pricing basis with settlement on trade date plus 3 days, and uses 3 month SOFR Compounded in Arrears plus the ISDA spread of 26.1 basis points as a comparator for performance comparison. The recommended holding period is 5 years.
Investment philosophy
• The fund follows a systematic, rule-based investment approach and uses quantitative mathematical or statistical models to select investments.
• Portfolio construction is designed to provide exposure to four stated investment styles: Value, Momentum, Carry and Defensive.
• The investment universe is global and spans equities, equity-related securities, fixed income securities, fixed-income related securities, money market instruments, deposits, cash and other funds.
• Derivatives are an important implementation tool: the fund may use financial derivative instruments extensively, including total return swaps and contracts for difference, and may generate market exposure in excess of its asset value through leverage.
• The investment adviser has discretion over investment selection, the fixed income allocation can include lower-rated or unrated securities, and the portfolio may at times hold a substantial amount or even all assets in cash.
Management team
The named portfolio managers are Philip Hodges and Jeff Shen. The documents identify them as the portfolio managers for the fund.
The asset manager
The management company is BlackRock (Luxembourg) S.A. The Key Information Document states that the manager is part of the BlackRock, Inc. group and is authorised in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier. The fund is a sub-fund of BlackRock Strategic Funds, a Luxembourg-domiciled UCITS umbrella structure.
Strengths
The fund combines a global multi-asset opportunity set with a systematic style-factor framework spanning Value, Momentum, Carry and Defensive exposures. Its absolute return objective and ability to invest across equities, fixed income, money markets, cash and other funds make it structurally broader than a single-asset strategy. The mandate also allows significant use of derivatives, including total return swaps and contracts for difference, and permits market leverage, which gives the manager flexible implementation tools. Daily dealing and an accumulating share class structure may also distinguish it for investors seeking ongoing reinvestment rather than income distribution.
Risks
The fund has a summary risk indicator of 3 out of 7, classified as medium low risk, though this is not guaranteed and may change over time. The documents identify market risk from equities and equity-related securities, interest-rate and credit risk from fixed income holdings, and heightened sensitivity in non-investment grade securities as well as ABS and MBS. Derivatives risk is significant because the fund may use financial derivative instruments extensively, including total return swaps and contracts for difference, and may generate leverage, making the portfolio highly sensitive to changes in underlying asset values. Additional named risks include counterparty risk, liquidity risk, emerging markets risk, currency risk for investors receiving payments in another currency, and the risk that an absolute return approach may not move in line with market trends or fully benefit from positive markets.