0001193125-22-066185.txt : 20220304 0001193125-22-066185.hdr.sgml : 20220304 20220304163915 ACCESSION NUMBER: 0001193125-22-066185 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 15 FILED AS OF DATE: 20220304 DATE AS OF CHANGE: 20220304 EFFECTIVENESS DATE: 20220304 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK ADVANTAGE GLOBAL FUND, INC. CENTRAL INDEX KEY: 0000922457 IRS NUMBER: 223310365 STATE OF INCORPORATION: MD FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-53399 FILM NUMBER: 22714652 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK GLOBAL SMALLCAP FUND, INC. DATE OF NAME CHANGE: 20061002 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH GLOBAL SMALLCAP FUND INC DATE OF NAME CHANGE: 19941019 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH SMALLCAP WORLD FUND INC DATE OF NAME CHANGE: 19940429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK BOND FUND, INC. CENTRAL INDEX KEY: 0000276463 IRS NUMBER: 132949519 STATE OF INCORPORATION: MD FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-62329 FILM NUMBER: 22714659 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH BOND FUND INC DATE OF NAME CHANGE: 20030804 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH CORPORATE BOND FUND INC/NY DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH HIGH INCOME FUND INC - CORRECTED NAME CHANGE DATE OF NAME CHANGE: 19600201 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK EUROFUND CENTRAL INDEX KEY: 0000790525 IRS NUMBER: 226410940 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-04026 FILM NUMBER: 22714657 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH EUROFUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH EUROPE TRUST DATE OF NAME CHANGE: 19861203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK FUNDS CENTRAL INDEX KEY: 0000844779 IRS NUMBER: 510318674 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-26305 FILM NUMBER: 22714656 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: COMPASS CAPITAL FUNDS\ DATE OF NAME CHANGE: 19961114 FORMER COMPANY: FORMER CONFORMED NAME: PNC FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: NCP FUNDS DATE OF NAME CHANGE: 19890511 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Funds IV CENTRAL INDEX KEY: 0001738074 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-224373 FILM NUMBER: 22714653 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Funds III CENTRAL INDEX KEY: 0000893818 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-54126 FILM NUMBER: 22714654 BUSINESS ADDRESS: STREET 1: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: 8006439691 MAIL ADDRESS: STREET 1: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 FORMER COMPANY: FORMER CONFORMED NAME: BARCLAYS GLOBAL INVESTORS FUNDS DATE OF NAME CHANGE: 20060201 FORMER COMPANY: FORMER CONFORMED NAME: BARCLAYS GLOBAL INVESTORS FUNDS INC DATE OF NAME CHANGE: 19990804 FORMER COMPANY: FORMER CONFORMED NAME: MASTERWORKS FUNDS INC DATE OF NAME CHANGE: 19960607 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Funds II CENTRAL INDEX KEY: 0001398078 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-142592 FILM NUMBER: 22714655 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock Fixed Income Trust DATE OF NAME CHANGE: 20070501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK BALANCED CAPITAL FUND, INC. CENTRAL INDEX KEY: 0000110055 IRS NUMBER: 132757134 STATE OF INCORPORATION: MD FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-49007 FILM NUMBER: 22714660 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 08536 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 08536 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH BALANCED CAPITAL FUND INC DATE OF NAME CHANGE: 20051214 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH BALANCE CAPITAL FUND INC DATE OF NAME CHANGE: 20000831 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH CAPITAL FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK EMERGING MARKETS FUND, INC. CENTRAL INDEX KEY: 0000849402 IRS NUMBER: 222986118 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-28248 FILM NUMBER: 22714658 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK GLOBAL EMERGING MARKETS FUND, INC. DATE OF NAME CHANGE: 20080317 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK DEVELOPING CAPITAL MARKETS FUND, INC. DATE OF NAME CHANGE: 20061002 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH DEVELOPING CAPITAL MARKETS FUND INC DATE OF NAME CHANGE: 19920703 0000110055 S000002175 BLACKROCK BALANCED CAPITAL FUND, INC. C000005578 Investor A C000005580 Investor C C000005581 Institutional C000005582 Class R C000199764 Class K 0000276463 S000004071 BlackRock Total Return Fund C000011387 Investor A C000011390 Institutional C000011391 Class R C000037618 Investor A1 C000037620 Investor C C000052630 Service C000052631 Class K Shares 0000276463 S000073727 BlackRock Sustainable Total Return Fund C000230842 Class K C000230843 Institutional C000230844 Investor A 0000790525 S000002177 BLACKROCK EUROFUND C000005587 Investor A C000005589 Investor C C000005590 Institutional C000005591 Class R C000199787 Class K 0000844779 S000001509 BLACKROCK HIGH EQUITY INCOME FUND C000004057 INSTITUTIONAL BMCIX C000004059 INVESTOR A BMEAX C000004061 INVESTOR C BMECX C000219259 Class K 0000844779 S000001510 BlackRock Technology Opportunities Fund C000004062 INSTITUTIONAL BGSIX C000004063 SERVICE BSTSX C000004064 INVESTOR A BGSAX C000004066 INVESTOR C BGSCX C000037630 Class R Shares C000216612 Class K 0000844779 S000001511 BLACKROCK INTERNATIONAL DIVIDEND FUND C000004067 INSTITUTIONAL BISIX C000004069 INVESTOR A BREAX C000004071 INVESTOR C BRECX C000198240 Class K 0000844779 S000001869 BLACKROCK ENERGY OPPORTUNITIES FUND C000004873 INSTITUTIONAL BACIX C000004875 INVESTOR A BACAX C000004877 INVESTOR C BACCX 0000844779 S000001870 BLACKROCK TACTICAL OPPORTUNITIES FUND C000004878 INSTITUTIONAL PBAIX C000004879 SERVICE PCBSX C000004880 INVESTOR A PCBAX C000004882 INVESTOR C BRBCX C000173964 Class K Shares 0000844779 S000001877 BLACKROCK HEALTH SCIENCES OPPORTUNITIES PORTFOLIO C000004912 INSTITUTIONAL SHSSX C000004913 SERVICE SHISX C000004914 INVESTOR A SHSAX C000004916 INVESTOR C SHSCX C000037661 Class R Shares C000172900 Class K 0000844779 S000008399 BLACKROCK ADVANTAGE INTERNATIONAL FUND C000023028 Institutional Shares C000023029 SERVICE CLASS C000023030 Investor A Shares C000023032 Investor C Shares C000037670 Class R Shares C000198216 Class K 0000844779 S000039460 BlackRock Global Long/Short Equity Fund C000121567 Institutional Shares C000121568 Investor A Shares C000121569 Investor C Shares C000166017 Class K 0000844779 S000039515 BlackRock Total Factor Fund C000121711 Institutional Shares C000121712 Investor A Shares C000121713 Investor C Shares C000177759 Class K 0000844779 S000068583 BlackRock U.S. Impact Fund C000219482 Institutional C000219483 Class K C000219484 Investor A 0000844779 S000068584 BlackRock International Impact Fund C000219485 Class K C000219486 Institutional C000219487 Investor A 0000844779 S000068585 BlackRock Global Impact Fund C000219488 Institutional C000219489 Class K C000219490 Investor A 0000844779 S000069107 BlackRock Sustainable Advantage International Equity Fund C000220887 Institutional C000220888 Class K C000220889 Investor A 0000844779 S000069108 BlackRock Sustainable Advantage Emerging Markets Equity Fund C000220890 Institutional C000220891 Class K C000220892 Investor A 0000844779 S000070273 BlackRock Defensive Advantage International Fund C000223503 Class K C000223504 Institutional C000223505 Investor A 0000844779 S000070274 BlackRock Defensive Advantage Emerging Markets Fund C000223506 Institutional C000223507 Class K C000223508 Investor A 0000844779 S000074773 BlackRock Global Equity Absolute Return Fund C000232952 Class K C000232953 Investor A C000232954 Institutional 0000849402 S000002250 BLACKROCK EMERGING MARKETS FUND, INC. C000005814 Investor A C000005816 Investor C C000005817 Institutional C000198223 Class K 0000893818 S000004278 BlackRock LifePath Dynamic 2030 Fund C000011997 Investor A Shares LPRDX C000011998 Institutional Shares STLDX C000051481 Class K LPSDX C000082487 Class R Shares LPRNX C000088835 Investor C Shares LPCNX 0000893818 S000004279 BlackRock LifePath Dynamic 2040 Fund C000011999 Investor A Shares LPREX C000012000 Institutional Shares STLEX C000051482 Class K LPSFX C000082488 Class R Shares LPRKX C000088838 Investor C Shares LPCKX 0000893818 S000004280 BlackRock LifePath Dynamic Retirement Fund C000012001 Investor A Shares LPRAX C000012002 Institutional Shares STLAX C000051483 Class K LPSAX C000082489 Class R Shares LPRRX C000088841 Investor C Shares LPCRX 0000893818 S000022024 BlackRock Lifepath Dynamic 2050 Fund C000063260 Investor A Shares LPRFX C000063261 Institutional Shares STLFX C000063262 Class K LPSGX C000082490 Class R Shares LPRPX C000088844 Investor C Shares LPCPX 0000893818 S000029259 BlackRock LifePath Dynamic 2025 Fund C000089947 Investor A Shares LPBAX C000089948 Investor C Shares LPBCX C000089949 Institutional Shares LPBIX C000089950 Class K Shares LPBKX C000089951 Class R Shares LPBRX 0000893818 S000029260 BlackRock LifePath Dynamic 2035 Fund C000089952 Class R Shares LPJRX C000089953 Investor A Shares LPJAX C000089954 Investor C Shares LPJCX C000089955 Institutional Shares LPJIX C000089956 Class K Shares LPJKX 0000893818 S000029261 BlackRock LifePath Dynamic 2045 Fund C000089957 Investor A Shares LPHAX C000089958 Investor C Shares LPHCX C000089959 Institutional Shares LPHIX C000089960 Class K Shares LPHKX C000089961 Class R Shares LPHRX 0000893818 S000029262 BlackRock LifePath Dynamic 2055 Fund C000089962 Investor A Shares LPVAX C000089963 Investor C Shares LPVCX C000089964 Institutional Shares LPVIX C000089965 Class K Shares LPVKX C000089966 Class R Shares LPVRX 0000893818 S000033188 iShares MSCI Total International Index Fund C000102140 Investor A Shares C000102141 Institutional Shares C000102142 Class K shares 0000893818 S000057862 BlackRock LifePath Dynamic 2060 Fund C000187068 Investor A Shares C000187069 Investor C Shares C000187070 Institutional Shares C000187071 Class R Shares C000187072 Class K Shares 0000893818 S000066172 BlackRock LifePath Dynamic 2065 Fund C000213843 Investor C Shares C000213844 Class K Shares C000213845 Investor A Shares C000213846 Institutional Shares C000213847 Class R Shares 0000922457 S000002724 BLACKROCK ADVANTAGE GLOBAL FUND, INC. C000007429 Investor A C000007431 Investor C C000007432 Institutional C000007433 Class R C000199761 Class K 0001398078 S000018351 BLACKROCK 80/20 TARGET ALLOCATION FUND C000050684 INSTITUTIONAL SHARES C000050685 INVESTOR A SHARES C000050686 INVESTOR C SHARES C000050687 Class R Shares C000166010 Class K 0001398078 S000018357 BLACKROCK MANAGED INCOME FUND C000050720 CLASS K SHARES C000050721 INSTITUTIONAL SHARES C000050722 INVESTOR A SHARES C000174022 INVESTOR C SHARES 0001398078 S000018360 BLACKROCK 40/60 TARGET ALLOCATION FUND C000050742 INSTITUTIONAL SHARES C000050743 INVESTOR A SHARES C000050744 INVESTOR C SHARES C000050745 Class R Shares C000166011 Class K 0001398078 S000018373 BLACKROCK 20/80 TARGET ALLOCATION FUND C000050785 INSTITUTIONAL SHARES C000050786 INVESTOR A SHARES C000050787 INVESTOR C SHARES C000050788 Class R Shares C000166012 Class K 0001398078 S000018380 BLACKROCK 60/40 TARGET ALLOCATION FUND C000050829 INSTITUTIONAL SHARES C000050830 INVESTOR A SHARES C000050831 INVESTOR C SHARES C000050832 Class R Shares C000166013 Class K 0001398078 S000020791 BLACKROCK GLOBAL DIVIDEND PORTFOLIO C000058057 INSTITUTIONAL SHARES C000058058 INVESTOR A SHARES C000058059 INVESTOR C SHARES C000172902 Class K 0001398078 S000020792 BLACKROCK MULTI-ASSET INCOME PORTFOLIO C000058060 INVESTOR C SHARES C000058061 INSTITUTIONAL SHARES C000058062 INVESTOR A SHARES C000182622 CLASS K SHARES 0001398078 S000069110 BlackRock Retirement Income 2030 Fund C000220895 Institutional C000220896 Investor A 0001398078 S000069111 BlackRock Retirement Income 2040 Fund C000220897 Institutional C000220898 Investor A 0001738074 S000062369 BlackRock Systematic Multi-Strategy Fund C000202321 Investor A Shares C000202322 Investor C Shares C000202323 Institutional Shares C000222461 Class K 0001738074 S000062370 BlackRock Global Long/Short Credit Fund C000202324 Investor A Shares C000202325 Investor C Shares C000202326 Institutional Shares C000202327 Class K Shares 0001738074 S000062371 BlackRock Sustainable Advantage CoreAlpha Bond Fund C000202328 Institutional Shares C000202329 Class K Shares C000202330 Investor A Shares C000202331 Investor C Shares 497 1 d259412d497.htm EUROPEAN ECONOMIC RISK UPDATE SUPPLEMENT European Economic Risk Update Supplement

BlackRock Advantage Global Fund, Inc.
BlackRock Balanced Capital Fund, Inc.
BlackRock Bond Fund, Inc.
BlackRock Total Return Fund
BlackRock Sustainable Total Return Fund
BlackRock Emerging Markets Fund, Inc.
BlackRock EuroFund
BlackRock FundsSM
BlackRock Sustainable Advantage Emerging Markets Equity Fund
BlackRock Sustainable Advantage International Equity Fund
BlackRock Advantage International Fund
BlackRock Defensive Advantage Emerging Markets Fund
BlackRock Defensive Advantage International Fund
BlackRock Energy Opportunities Fund
BlackRock Global Equity Absolute Return Fund
BlackRock Global Impact Fund
BlackRock Global Long/Short Equity Fund
BlackRock Health Sciences Opportunities Portfolio
BlackRock High Equity Income Fund
BlackRock International Dividend Fund
BlackRock International Impact Fund
BlackRock Tactical Opportunities Fund
BlackRock Technology Opportunities Fund
BlackRock Total Factor Fund
BlackRock U.S. Impact Fund
BlackRock Funds II
BlackRock 20/80 Target Allocation Fund
BlackRock 40/60 Target Allocation Fund
BlackRock 60/40 Target Allocation Fund
BlackRock 80/20 Target Allocation Fund
BlackRock Global Dividend Portfolio
BlackRock Managed Income Fund
BlackRock Multi-Asset Income Portfolio
BlackRock Retirement Income 2030 Fund
BlackRock Retirement Income 2040 Fund
BlackRock Funds III
BlackRock LifePath® Dynamic Retirement Fund
BlackRock LifePath® Dynamic 2025 Fund
BlackRock LifePath® Dynamic 2030 Fund
BlackRock LifePath® Dynamic 2035 Fund
BlackRock LifePath® Dynamic 2040 Fund
BlackRock LifePath® Dynamic 2045 Fund
BlackRock LifePath® Dynamic 2050 Fund
BlackRock LifePath® Dynamic 2055 Fund
BlackRock LifePath® Dynamic 2060 Fund
BlackRock LifePath® Dynamic 2065 Fund
iShares MSCI Total International Index Fund
BlackRock Funds IV
BlackRock Global Long/Short Credit Fund
BlackRock Sustainable Advantage CoreAlpha Bond Fund
BlackRock Systematic Multi-Strategy Fund
BlackRock Funds V
BlackRock Floating Rate Income Portfolio
BlackRock High Yield Bond Portfolio
BlackRock Income Fund
BlackRock Sustainable Emerging Markets Bond Fund
BlackRock Sustainable Emerging Markets Flexible Bond Fund
BlackRock Funds VI
BlackRock Advantage CoreAlpha Bond Fund
BlackRock Funds VII, Inc.
BlackRock Sustainable International Equity Fund
BlackRock Global Allocation Fund, Inc.
BlackRock Index Funds, Inc.
iShares MSCI EAFE International Index Fund
BlackRock Large Cap Focus Value Fund, Inc.
BlackRock Large Cap Series Funds, Inc.
BlackRock Event Driven Equity Fund
BlackRock Latin America Fund, Inc.
BlackRock Natural Resources Trust
BlackRock Series Fund, Inc.
BlackRock Global Allocation Portfolio
BlackRock Series Fund II, Inc.
BlackRock High Yield Portfolio
BlackRock Series, Inc.
BlackRock International Fund
 

BlackRock Strategic Global Bond Fund, Inc.
BlackRock Variable Series Funds, Inc.
BlackRock Basic Value V.I. Fund
BlackRock Global Allocation V.I. Fund
BlackRock International Index V.I. Fund
BlackRock International V.I. Fund
BlackRock Large Cap Focus Growth V.I. Fund
BlackRock Managed Volatility V.I. Fund
BlackRock Variable Series Funds II, Inc.
BlackRock High Yield V.I. Fund
BlackRock Total Return V.I. Fund
Managed Account Series
BlackRock GA Disciplined Volatility Equity Fund
BlackRock GA Dynamic Equity Fund
 
 
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
 
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Prospectus(es) entitled “Details About the Fund[s]—Investment Risks—Principal Risks of Investing in the [Fund[s]] [the Underlying Funds] [the Underlying ETFs]” or “Details About the Fund—A Further Discussion of Risk Factors—Principal Risks of the Underlying Funds,” as applicable, is amended to delete the sub‑secton entitled “European Economic Risk” and to replace it with the following:
European Economic Risk — The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world.
The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and
 
2

duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but could be significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.
Shareholders should retain this Supplement for future reference.
PR2‑EURO‑0222SUP
 
3
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Member S000004071 [Member] BlackRock Total Return Fund BlackRock Total Return Fund Member S000004278 [Member] BlackRock LifePath Dynamic 2030 Fund BlackRock LifePath Dynamic 2030 Fund Member S000004279 [Member] BlackRock LifePath Dynamic 2040 Fund BlackRock LifePath Dynamic 2040 Fund Member S000004280 [Member] BlackRock LifePath Dynamic Retirement Fund BlackRock LifePath Dynamic Retirement Fund Member S000008399 [Member] BLACKROCK ADVANTAGE INTERNATIONAL FUND BLACKROCK ADVANTAGE INTERNATIONAL FUND Member S000018351 [Member] BLACKROCK 80/20 TARGET ALLOCATION FUND BLACKROCK 80/20 TARGET ALLOCATION FUND Member S000018357 [Member] BLACKROCK MANAGED INCOME FUND BLACKROCK MANAGED INCOME FUND Member S000018360 [Member] BLACKROCK 40/60 TARGET ALLOCATION FUND BLACKROCK 40/60 TARGET ALLOCATION FUND Member S000018373 [Member] BLACKROCK 20/80 TARGET ALLOCATION FUND BLACKROCK 20/80 TARGET ALLOCATION FUND Member S000018380 [Member] BLACKROCK 60/40 TARGET ALLOCATION FUND BLACKROCK 60/40 TARGET ALLOCATION FUND Member S000020791 [Member] BLACKROCK GLOBAL DIVIDEND PORTFOLIO BLACKROCK GLOBAL DIVIDEND PORTFOLIO Member S000020792 [Member] BLACKROCK MULTI-ASSET INCOME PORTFOLIO BLACKROCK MULTI-ASSET INCOME PORTFOLIO Member S000022024 [Member] BlackRock Lifepath Dynamic 2050 Fund BlackRock Lifepath Dynamic 2050 Fund Member S000029259 [Member] BlackRock LifePath Dynamic 2025 Fund BlackRock LifePath Dynamic 2025 Fund Member S000029260 [Member] BlackRock LifePath Dynamic 2035 Fund BlackRock LifePath Dynamic 2035 Fund Member S000029261 [Member] BlackRock LifePath Dynamic 2045 Fund BlackRock LifePath Dynamic 2045 Fund Member S000029262 [Member] BlackRock LifePath Dynamic 2055 Fund BlackRock LifePath Dynamic 2055 Fund Member S000033188 [Member] iShares MSCI Total International Index Fund iShares MSCI Total International Index Fund Member S000039460 [Member] BlackRock Global Long/Short Equity Fund BlackRock Global Long/Short Equity Fund Member S000039515 [Member] BlackRock Total Factor 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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 497
Document Period End Date dei_DocumentPeriodEndDate Mar. 04, 2022
Registrant Name dei_EntityRegistrantName BlackRock Advantage Global Fund, Inc.
Entity Central Index Key dei_EntityCentralIndexKey 0000922457
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Mar. 04, 2022
Document Effective Date dei_DocumentEffectiveDate Mar. 04, 2022
Prospectus Date rr_ProspectusDate Mar. 04, 2022
Entity Inv Company Type dei_EntityInvCompanyType N-1A
XML 8 R2.htm IDEA: XBRL DOCUMENT v3.22.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Advantage Global Fund, Inc.
BlackRock Balanced Capital Fund, Inc.
BlackRock Bond Fund, Inc.
BlackRock Total Return Fund
BlackRock Sustainable Total Return Fund
BlackRock Emerging Markets Fund, Inc.
BlackRock EuroFund
BlackRock FundsSM
BlackRock Sustainable Advantage Emerging Markets Equity Fund
BlackRock Sustainable Advantage International Equity Fund
BlackRock Advantage International Fund
BlackRock Defensive Advantage Emerging Markets Fund
BlackRock Defensive Advantage International Fund
BlackRock Energy Opportunities Fund
BlackRock Global Equity Absolute Return Fund
BlackRock Global Impact Fund
BlackRock Global Long/Short Equity Fund
BlackRock Health Sciences Opportunities Portfolio
BlackRock High Equity Income Fund
BlackRock International Dividend Fund
BlackRock International Impact Fund
BlackRock Tactical Opportunities Fund
BlackRock Technology Opportunities Fund
BlackRock Total Factor Fund
BlackRock U.S. Impact Fund
BlackRock Funds II
BlackRock 20/80 Target Allocation Fund
BlackRock 40/60 Target Allocation Fund
BlackRock 60/40 Target Allocation Fund
BlackRock 80/20 Target Allocation Fund
BlackRock Global Dividend Portfolio
BlackRock Managed Income Fund
BlackRock Multi-Asset Income Portfolio
BlackRock Retirement Income 2030 Fund
BlackRock Retirement Income 2040 Fund
BlackRock Funds III
BlackRock LifePath® Dynamic Retirement Fund
BlackRock LifePath® Dynamic 2025 Fund
BlackRock LifePath® Dynamic 2030 Fund
BlackRock LifePath® Dynamic 2035 Fund
BlackRock LifePath® Dynamic 2040 Fund
BlackRock LifePath® Dynamic 2045 Fund
BlackRock LifePath® Dynamic 2050 Fund
BlackRock LifePath® Dynamic 2055 Fund
BlackRock LifePath® Dynamic 2060 Fund
BlackRock LifePath® Dynamic 2065 Fund
iShares MSCI Total International Index Fund
BlackRock Funds IV
BlackRock Global Long/Short Credit Fund
BlackRock Sustainable Advantage CoreAlpha Bond Fund
BlackRock Systematic Multi-Strategy Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK ADVANTAGE GLOBAL FUND, INC. | BLACKROCK ADVANTAGE GLOBAL FUND, INC.  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Advantage Global Fund, Inc.
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK BALANCED CAPITAL FUND, INC. | BLACKROCK BALANCED CAPITAL FUND, INC.  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Balanced Capital Fund, Inc.
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK BOND FUND, INC. | BlackRock Total Return Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Bond Fund, Inc.
BlackRock Total Return Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK BOND FUND, INC. | BlackRock Sustainable Total Return Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Bond Fund, Inc.
BlackRock Sustainable Total Return Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK EMERGING MARKETS FUND, INC. | BLACKROCK EMERGING MARKETS FUND, INC.  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Emerging Markets Fund, Inc.
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK EUROFUND | BLACKROCK EUROFUND  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock EuroFund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BlackRock Technology Opportunities Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Technology Opportunities Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BLACKROCK HIGH EQUITY INCOME FUND  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock High Equity Income Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BLACKROCK INTERNATIONAL DIVIDEND FUND  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock International Dividend Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BLACKROCK ENERGY OPPORTUNITIES FUND  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Energy Opportunities Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BLACKROCK TACTICAL OPPORTUNITIES FUND  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Tactical Opportunities Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BLACKROCK HEALTH SCIENCES OPPORTUNITIES PORTFOLIO  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Health Sciences Opportunities Portfolio
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BLACKROCK ADVANTAGE INTERNATIONAL FUND  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Advantage International Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BlackRock Global Long/Short Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Global Long/Short Equity Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BlackRock Total Factor Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Total Factor Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BlackRock U.S. Impact Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock U.S. Impact Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BlackRock International Impact Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock International Impact Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BlackRock Global Impact Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Global Impact Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BlackRock Sustainable Advantage International Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Sustainable Advantage International Equity Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BlackRock Sustainable Advantage Emerging Markets Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Sustainable Advantage Emerging Markets Equity Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BlackRock Defensive Advantage International Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Defensive Advantage International Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BlackRock Defensive Advantage Emerging Markets Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Defensive Advantage Emerging Markets Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BLACKROCK FUNDS | BlackRock Global Equity Absolute Return Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock FundsSM
BlackRock Global Equity Absolute Return Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds II | BLACKROCK 80/20 TARGET ALLOCATION FUND  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds II
BlackRock 80/20 Target Allocation Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds II | BLACKROCK MANAGED INCOME FUND  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds II
BlackRock Managed Income Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds II | BLACKROCK 40/60 TARGET ALLOCATION FUND  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds II
BlackRock 40/60 Target Allocation Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds II | BLACKROCK 20/80 TARGET ALLOCATION FUND  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds II
BlackRock 20/80 Target Allocation Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds II | BLACKROCK 60/40 TARGET ALLOCATION FUND  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds II
BlackRock 60/40 Target Allocation Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds II | BLACKROCK GLOBAL DIVIDEND PORTFOLIO  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds II
BlackRock Global Dividend Portfolio
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds II | BLACKROCK MULTI-ASSET INCOME PORTFOLIO  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds II
BlackRock Multi-Asset Income Portfolio
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds II | BlackRock Retirement Income 2030 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds II
BlackRock Retirement Income 2030 Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds II | BlackRock Retirement Income 2040 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds II
BlackRock Retirement Income 2040 Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds III | BlackRock LifePath Dynamic 2030 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds III
BlackRock LifePath® Dynamic 2030 Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds III | BlackRock LifePath Dynamic 2040 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds III
BlackRock LifePath® Dynamic 2040 Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds III | BlackRock LifePath Dynamic Retirement Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds III
BlackRock LifePath® Dynamic Retirement Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds III | BlackRock Lifepath Dynamic 2050 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds III
BlackRock LifePath® Dynamic 2050 Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds III | BlackRock LifePath Dynamic 2025 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds III
BlackRock LifePath® Dynamic 2025 Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds III | BlackRock LifePath Dynamic 2035 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds III
BlackRock LifePath® Dynamic 2035 Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds III | BlackRock LifePath Dynamic 2045 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds III
BlackRock LifePath® Dynamic 2045 Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds III | BlackRock LifePath Dynamic 2055 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds III
BlackRock LifePath® Dynamic 2055 Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds III | iShares MSCI Total International Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds III
iShares MSCI Total International Index Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds III | BlackRock LifePath Dynamic 2060 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds III
BlackRock LifePath® Dynamic 2060 Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds III | BlackRock LifePath Dynamic 2065 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds III
BlackRock LifePath® Dynamic 2065 Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds IV | BlackRock Systematic Multi-Strategy Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds IV
BlackRock Systematic Multi-Strategy Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds IV | BlackRock Global Long/Short Credit Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds IV
BlackRock Global Long/Short Credit Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
BlackRock Funds IV | BlackRock Sustainable Advantage CoreAlpha Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BlackRock Funds IV
BlackRock Sustainable Advantage CoreAlpha Bond Fund
(each, a “Fund” and collectively, the “Funds”)
Supplement dated March 1, 2022
to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date
Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:
The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended to add the following as the eighth bullet point in the list or to delete the eighth bullet point in the list and to replace it with the following:
   
The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.
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margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Advantage Global Fund, Inc.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Advantage Global Fund, Inc.</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Balanced Capital Fund, Inc.</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Bond Fund, Inc.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Total Return Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Sustainable Total Return Fund</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Emerging Markets Fund, Inc.</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock EuroFund</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Sustainable Advantage Emerging Markets Equity Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Sustainable Advantage International Equity Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Advantage International Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Defensive Advantage Emerging Markets Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Defensive Advantage International Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Energy Opportunities Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Global Equity Absolute Return Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Global Impact Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Global Long/Short Equity Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Health Sciences Opportunities Portfolio</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock High Equity Income Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock International Dividend Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock International Impact Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Tactical Opportunities Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Technology Opportunities Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Total Factor Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock U.S. Impact Fund</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds II</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock 20/80 Target Allocation Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock 40/60 Target Allocation Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock 60/40 Target Allocation Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock 80/20 Target Allocation Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Global Dividend Portfolio</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Managed Income Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Multi-Asset Income Portfolio</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Retirement Income 2030 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Retirement Income 2040 Fund</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic Retirement Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2025 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2030 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2035 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2040 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2045 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2050 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2055 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2060 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2065 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">iShares MSCI Total International Index Fund</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds IV</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Global Long/Short Credit Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Sustainable Advantage CoreAlpha Bond Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Systematic Multi-Strategy Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> BlackRock Advantage Global Fund, Inc. <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Balanced Capital Fund, Inc.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Bond Fund, Inc.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Total Return Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Bond Fund, Inc.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Sustainable Total Return Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Emerging Markets Fund, Inc.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock EuroFund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Sustainable Advantage Emerging Markets Equity Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Sustainable Advantage International Equity Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Advantage International Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Defensive Advantage Emerging Markets Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Defensive Advantage International Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Energy Opportunities Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Global Equity Absolute Return Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Global Impact Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Global Long/Short Equity Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Health Sciences Opportunities Portfolio</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock High Equity Income Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock International Dividend Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock International Impact Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Tactical Opportunities Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Technology Opportunities Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Total Factor Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds<sup style="font-size: 85%; vertical-align: top;">SM</sup></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock U.S. Impact Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds II</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock 20/80 Target Allocation Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds II</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock 40/60 Target Allocation Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds II</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock 60/40 Target Allocation Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds II</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock 80/20 Target Allocation Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds II</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Global Dividend Portfolio</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds II</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Managed Income Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds II</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Multi-Asset Income Portfolio</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds II</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Retirement Income 2030 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds II</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Retirement Income 2040 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic Retirement Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2025 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2030 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2035 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2040 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2045 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2050 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2055 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2060 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock LifePath<sup style="font-size: 85%; vertical-align: top;">®</sup> Dynamic 2065 Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds III</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">iShares MSCI Total International Index Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds IV</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Global Long/Short Credit Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds IV</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Sustainable Advantage CoreAlpha Bond Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Fund’s investments.</div> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">BlackRock Funds IV</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: times new roman;">BlackRock Systematic Multi-Strategy Fund</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">(each, a “Fund” and collectively, the “Funds”)</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">Supplement dated March 1, 2022</div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: center;">to the Summary Prospectus(es) and Prospectus(es) of each Fund, as amended to date</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Effective immediately, the Summary Prospectus(es) and Prospectus(es) of each Fund are amended as follows:</div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">The risk factor entitled “Foreign Securities Risk” in the section of each Fund’s Summary Prospectus(es) entitled “Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, and the section of each Fund’s Prospectus(es) entitled “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund” or “Fund Overview—Key Facts About [the Fund]—Principal Risks of Investing in the Fund, the Underlying Funds and/or the ETFs,” as applicable, is amended <span style="font-family: 'Times New Roman'; font-size: 13.3333px; background-color: #ffffff;">to add the following as the eighth bullet point in the list or to</span> delete the eighth bullet point in the list and to replace it with the following:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: times new roman; font-size: 10pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"> </td> <td style="width: 3%; vertical-align: top; text-align: left;">•</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: times new roman; font-size: 10pt; text-align: left;">The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. 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