BlackRock Multi-Asset Income Portfolio
BlackRock Funds II
Fund classification
Classified from what the fund holds · as of 2026 Q2
BlackRock Multi-Asset Income Portfolio is a conservative allocation fund.
- Asset class
- Allocation (multi-asset)
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Equity exposure
- Conservative
Fund profile
As filed in the prospectus · 2025 Q4
The investment objective of BlackRock Multi-Asset Income Portfolio (the Fund) is to seek to maximize current income with consideration for capital appreciation.
The fund seeks to maximize current income by investing up to 60% in dividend-paying equities and up to 100% in fixed-income securities, including substantial allocations to high-yield bonds, bank loans, and emerging-market debt, while employing derivatives such as covered call options and credit default swaps to enhance yield. The fund may also use a proprietary volatility control process to shift assets between cash and riskier securities based on market conditions. Because the fund's returns depend on the manager's selection of individual securities and tactical allocation decisions, performance will diverge from any benchmark. The fund may engage in active and frequent trading and may invest significantly in cash at times.
| Share class | Gross | Net |
|---|---|---|
| C000058060 | 1.69% | 1.57% |
| C000058061 | 0.68% | 0.57% |
| C000058062 | 0.92% | 0.82% |
| C000182622 | 0.62% | 0.52% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 99.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 39.27% |
| Stocks | 25.86% |
| Securitized | 21.71% |
| Cash & short-term | 7.43% |
| 2 smaller | 8.96% |
| Derivatives | -0.32% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| International | 27.6% |
| Securitized | 21.0% |
| Other | 16.0% |
| Cash | 7.2% |
| 12 smaller | 28.2% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: Barclays Mortgage Loan Trust ×2, Barclays Bank plc ×2, Velocity Commercial Capital Loan Trust, Morgan Stanley Europe SE, BNP Paribas Issuance BV, Project Power Buyer LLC
Largest exited: iShares Trust, Barclays Bank plc, Royal Bank of Canada, J.P. Morgan Structured Products BV, Citigroup Global Markets Holdings, Inc., iShares MSCI Australia ETF, Federative Republic of Brazil, Morgan Stanley Europe SE
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
This fund changed legal form during the period shown. The history above is continuous — it spans both eras, and the change is not a gap in reporting.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 53.2% |
| Floating rate | 46.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 23.1% |
| 1-3y | 6.0% |
| 3-5y | 15.3% |
| 5-10y | 23.3% |
| 10y+ | 32.3% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 60% |
| Credit spreads | 40% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +0.90 yr |
| High yield | +0.88 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.04 yr | 2% |
| 1 yr | 0.15 yr | 5% |
| 5 yr | 2.00 yr | 74% |
| 10 yr | 0.26 yr | 9% |
| 30 yr | 0.26 yr | 10% |
| 3 mo | 0.54 yr | 30% |
| 1 yr | 0.07 yr | 4% |
| 5 yr | 0.89 yr | 50% |
| 10 yr | 0.19 yr | 11% |
| 30 yr | 0.09 yr | 5% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.04 | +0.27 | +0.27 | $280.3k | $288.1k |
| 1 yr | +0.15 | +0.03 | +0.04 | $32.3k | $45.4k |
| 5 yr | +2.00 | +0.43 | +0.46 | $456.3k | $484.3k |
| 10 yr | +0.26 | +0.15 | +0.04 | $154.5k | $44.4k |
| 30 yr | +0.26 | +0.03 | +0.06 | $27.7k | $67.5k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 2.71 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| TSTXX | BlackRock Liquidity FundsTSTXX | 4.91% | — | $517.29M | — |
| — | BlackRock Funds III | 2.06% | — | $216.86M | — |
| — | iShares Trust | 2.02% | — | $213.07M | — |
| — | iShares, Inc. | 1.08% | — | $113.75M | — |
| — | Beignet Investor LLC6.58% · due 2049-05-30 | 0.49% | — | $51.83M | — |
| MSFT | Microsoft Corp.MSFT | 0.43% | $407.78 | $45.51M | 111.6K |
| GOOGL | Alphabet, Inc.GOOGL | 0.36% | $384.80 | $37.65M | 97.8K |
| AVGO | Broadcom, Inc.AVGO | 0.33% | $417.43 | $34.31M | 82.2K |
| META | Meta Platforms, Inc.META | 0.30% | $611.91 | $31.80M | 52.0K |
| WMB | Williams Cos., Inc. (The)WMB | 0.24% | $76.31 | $25.47M | 333.8K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
Top 10 positions are 12.22% of net assets, top 25 15.18%, across 2.7K issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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