BlackRock Dynamic High Income Portfolio
Data updated: 2026-09-25
C000146952 — BlackRock Dynamic High Income Portfolio. Global (incl. US) Large Cap Blend / Core Equity. Holdings, fees, performance and SEC filings.
C000146952 Fund Overview
BlackRock Dynamic High Income Portfolio is a US mutual fund managed by BlackRock Funds II, categorised as Global (incl. US) Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: BlackRock Funds II
- Category: Global (incl. US) Large Cap Blend / Core Equity
- Assets under management: $1.63B
- 1-year return: 14.7%
- SEC CIK: 0001398078
- SEC series ID: S000047012
- Share class ID: C000146952
C000146952 Investment Objective and Strategy
BlackRock Dynamic High Income Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by BlackRock Funds II.
Investment objective
The investment objective of the BlackRock Dynamic High Income Portfolio (the “Fund”) is to seek high current income with consideration for capital appreciation.
Principal investment strategy
The Fund may invest up to 100% of its assets in equity securities and up to 100% of its assets in fixed-income securities. The Fund may also gain exposure to such equity securities and fixed-income securities by investing in BlackRock equity and/or fixed-income mutual funds (underlying funds) and affiliated and unaffiliated ETFs. The Fund may also invest up to 50% of its assets in structured notes that provide exposure to covered call options or other types of financial instruments. With respect to the Funds equity investments, the Fund may invest in common stock, preferred stock, securities convertible into common and preferred stock and non-convertible preferred stock. From time to time, the Fund may invest in shares of companies through initial public offerings (IPOs). The Fund may invest in equity securities of both U.S.
or non-U.S. issuers without limit, including in securities of issuers located in emerging markets. The Funds investments in non-dollar denominated equity securities may be on a currency hedged or unhedged basis. The Fund may invest in securities of companies of any market capitalization. With respect to the Funds fixed-income investments, the Fund may invest in a portfolio of fixed-income securities, such as corporate bonds and notes, mortgage-backed securities (including commercial mortgage-backed securities and collateralized mortgage obligations), asset-backed securities (including collateralized debt obligations (CDOs) and collateralized loan obligations), convertible securities, preferred securities and government obligations. Convertible debt securities have features of both fixed-income and equity securities and often are issued by companies that have lower credit ratings but higher potential for long-term growth.
The Fund may invest in fixed-income securities of both U.S. or non-U.S. issuers without limit, including in securities of issuers located in emerging markets. The Fund may also invest significantly in non-investment grade bonds (high yield, junk bonds or distressed securities), including non-investment grade bonds of issuers located in emerging markets, non-investment grade bank loans and non-dollar denominated bonds. The Funds investments in non-dollar denominated bonds may be on a currency hedged or unhedged basis. Non-investment grade bonds or bank loans acquired by the Fund will generally be in the lower categories of the major rating agencies at the time of purchase (BB or lower by S&P Global Ratings, a division of S&P Global Inc., or Ba or lower by Moodys Investors Services, Inc.) or will be determined by the management team to be of similar quality.
The average portfolio duration of the Fund will vary based on the management teams forecast of interest rates and there are no limits regarding portfolio duration or average maturity. The Fund intends to invest in certain income-producing instruments, including master limited partnerships (MLPs) (which are generally in energy-related industries), U.S. and non-U.S. real estate investment trusts (REITs), preferred stock, structured products, structured notes that provide exposure to covered call options or other types of financial instruments, floating rate securities (such as bank loans), dividend stocks and fixed-income securities. The Fund may also invest in closed-end investment companies. The Fund may invest significantly in derivatives, including, but not limited to, interest rate swaps, total return swaps, credit default swaps, variance swaps, indexed and inverse floating rate securities, options (including covered call options), futures, options on futures and swaps and foreign currency transactions (including swaps), for hedging purposes, as well as to increase the return on its portfolio investments.
The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls). The underlying funds and ETFs in which the Fund invests may, to varying degrees, also invest in derivatives. The Fund may also incur leverage (within the limits of applicable law) for investment purposes. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
C000146952 Holdings
Top 10 holdings of BlackRock Dynamic High Income Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| BlackRock Liquidity Funds | 6.53% |
| Barclays Bank plc | 3.66% |
| Societe Generale SA | 3.58% |
| Royal Bank of Canada | 3.26% |
| BNP Paribas Issuance BV | 3.02% |
| Nomura Bank International plc | 2.40% |
| Citigroup Global Markets Holdings, Inc. | 1.81% |
| J.P. Morgan Structured Products BV | 1.49% |
| iShares Trust | 1.33% |
| Ubs AG | 1.31% |
C000146952 Portfolio Allocation
Asset-class allocation of BlackRock Dynamic High Income Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Other | 27.3% |
| Equity | 26.0% |
| Fixed Income | 21.8% |
| Securitized | 14.6% |
| Cash & Equivalents | 7.1% |
| Loans | 5.4% |
C000146952 Performance
Total returns for C000146952 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 3.1% |
| 1 year | 14.7% |
| 3 years (annualised) | 10.6% |
| 5 years (annualised) | 3.9% |
C000146952 Risk Information
Risk metrics for C000146952, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.3%
C000146952 Costs and Fees
C000146952 costs about $168 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.68%
- Gross expense ratio: 1.86%
- Portfolio turnover: 148%
- Brokerage commissions: 3.71 bps of average net assets (SEC N-CEN)
C000146952 Cashflows
Over the 12 months to 2026-04, BlackRock Dynamic High Income Portfolio had net inflows of $330.47M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $41.29M |
| 2026-03 | $59.31M |
| 2026-02 | $31.24M |
| 2026-01 | $24.68M |
| 2025-12 | $17.01M |
| 2025-11 | $14.42M |
C000146952 Debt Constituents
Largest debt holdings of BlackRock Dynamic High Income Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Beignet Investor LLC | 0.43% |
| Federative Republic of Brazil | 0.38% |
| United Mexican States | 0.30% |
| Romania | 0.24% |
| Republic of Colombia | 0.22% |
| Republic of Chile | 0.21% |
| Republic of South Africa | 0.21% |
| 1261229 BC Ltd. | 0.20% |
| HUB International Ltd. | 0.18% |
| Republic of Poland | 0.15% |
C000146952 Prospectus and SEC Filings
Official BlackRock Dynamic High Income Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-11-21
- Prospectus (485BPOS) — filed 2023-11-17
- Prospectus supplement (497) — filed 2025-12-02
- Portfolio holdings (N-PORT) — filed 2026-09-25
- Portfolio holdings (N-PORT) — filed 2026-06-26
- Portfolio holdings (N-PORT) — filed 2026-03-27
- Annual census (N-CEN) — filed 2025-10-14
- Annual census (N-CEN) — filed 2024-10-11
Related Funds
Other Global (incl. US) Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.