XML 18 R2.htm IDEA: XBRL DOCUMENT v3.24.3
Label Element Value
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC.  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund OverviewKey Facts About BlackRock Capital Appreciation Fund, Inc.
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The investment objective of BlackRock Capital Appreciation Fund, Inc. (the “Fund”) is to seek long-term growth of capital.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to your financial professional or your selected securities dealer, broker, investment adviser, service provider or industry professional (including BlackRock Advisors, LLC (BlackRock) and its affiliates) (each, a Financial Intermediary), which are not reflected in the table and example below. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock or its affiliates. More information about these and other discounts is available from your Financial Intermediary and in the “Details About the Share Classes” and the “Intermediary-Defined Sales Charge Waiver Policies” sections on pages 24 and A-1, respectively, of the Fund’s prospectus and in the “Purchase of Shares” section on page II-90 of Part II of the Fund’s Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination June 30, 2026
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 21% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 21.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge (“CDSC”) of 1.00% is assessed on certain redemptions of Investor A Shares made within 18 months after purchase where no initial sales charge was paid at the time of purchase as part of an investment of $1,000,000 or more.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock or its affiliates.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 25,000
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption You would pay the following expenses if you did not redeem your shares:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies of the Fund
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock
The Fund will seek to achieve its investment objective by investing primarily in a diversified portfolio consisting primarily of common stock of U.S. companies that Fund management believes have exhibited above-average growth rates in earnings over the long term. In other words, Fund management tries to choose investments that will increase in value over the long term.
The Fund will generally invest at least 65% of its total assets in the following equity securities:
Common stock;
Convertible preferred stock; and
Rights to subscribe to common stock.
Of these securities the Fund generally seeks to invest primarily in common stock. The Fund may also purchase securities convertible into common stock.
The Fund may invest in companies of any size but emphasizes investments in companies that have medium to large stock market capitalizations (currently, approximately $2 billion or more).
Convertible securities generally are debt securities or preferred stock that may be converted into common stock. Convertible securities typically pay current income as either interest (debt security convertibles) or dividends (preferred stock). A convertible’s value usually reflects both the stream of current income payments and the market value of the underlying common stock. The Fund may purchase securities pursuant to the exercise of subscription rights, which allow an issuer’s existing shareholders to purchase additional common stock at a price substantially below the market price of the shares.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance Information
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock
The information shows you how the Fund’s performance has varied year by year and provides some indication of the risks of investing in the Fund. The table compares the Fund’s performance to that of the Standard & Poor’s (“S&P”) 500® Index and the Russell 1000® Growth Index, which are relevant to the Fund because they have characteristics similar to the Fund’s investment strategy. To the extent that dividends and distributions have been paid by the Fund, the performance information for the Fund in the chart and table assumes reinvestment of the dividends and distributions. As with all such investments, past performance (before and after taxes) is not an indication of future results. Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown. However, the table includes all applicable fees and sales charges. If the Fund’s investment manager and its affiliates
had not waived or reimbursed certain Fund expenses during these periods, the Fund’s returns would have been lower. Updated information on the Fund’s performance, including its current net asset value, can be obtained by visiting www.blackrock.com or can be obtained by phone at (800) 882-0052.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The information shows you how the Fund’s performance has varied year by year and provides some indication of the risks of investing in the Fund.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex The table compares the Fund’s performance to that of the Standard & Poor’s (“S&P”) 500® Index and the Russell 1000® Growth Index, which are relevant to the Fund because they have characteristics similar to the Fund’s investment strategy.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone (800) 882-0052
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.blackrock.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture As with all such investments, past performance (before and after taxes) is not an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Investor A Shares ANNUAL TOTAL RETURNS BlackRock Capital Appreciation Fund, Inc. As of 12/31
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
During the ten-year period shown in the bar chart, the highest return for a quarter was 28.78% (quarter ended June 30, 2020) and the lowest return for a quarter was -23.09% (quarter ended June 30, 2022). The year-to-date return as of June 30, 2024 was 22.39%.
Performance Table Heading rr_PerformanceTableHeading For the periods ended 12/31/23Average Annual Total Returns
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads However, the table includes all applicable fees and sales charges.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for Investor A Shares only, and the after-tax returns for Investor C, Institutional and Class R Shares will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Investor A Shares only, and the after-tax returns for Investor C, Institutional and Class R Shares will vary.
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Risk Lose Money [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments.
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Equity Securities Risk [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Equity Securities Risk — Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Investment Style Risk [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Investment Style Risk Under certain market conditions, growth investments have performed better during the later stages of economic expansion. Therefore, this investment style may over time go in and out of favor. At times when the investment style used by the Fund is out of favor, the Fund may underperform other equity funds that use different investment styles.
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Market Risk and Selection Risk [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Market Risk and Selection Risk — Market risk is the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the markets will go down sharply and unpredictably. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, exchange, country, group of countries, region, market, industry, group of industries, sector or asset class. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues like pandemics or epidemics, recessions, or other events could have a significant impact on the Fund and its investments. Selection risk is the risk that the securities selected by Fund management will underperform the markets, the relevant indices or the securities selected by other funds with similar investment objectives and investment strategies. This means you may lose money.
An outbreak of an infectious coronavirus (COVID-19) that was first detected in December 2019 developed into a global pandemic that has resulted in numerous disruptions in the market and has had significant economic impact leaving general concern and uncertainty. Although vaccines have been developed and approved for use by various governments, the duration of the pandemic and its effects cannot be predicted with certainty. The impact of this coronavirus, and other epidemics and pandemics that may arise in the future, could affect the economies of many nations, individual companies and the market in general ways that cannot necessarily be foreseen at the present time.
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Convertible Securities Risk [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Convertible Securities Risk — The market value of a convertible security performs like that of a regular debt security; that is, if market interest rates rise, the value of a convertible security usually falls. In addition, convertible securities are subject to the risk that the issuer will not be able to pay interest, principal or dividends when due, and their market value may change based on changes in the issuer’s credit rating or the market’s perception of the issuer’s creditworthiness. Since it derives a portion of its value from the common stock into which it may be converted, a convertible security is also subject to the same types of market and issuer risks that apply to the underlying common stock, including the potential for increased volatility in the price of the convertible security.
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Mid Cap Securities Risk [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Mid Cap Securities Risk — The securities of mid cap companies generally trade in lower volumes and are generally subject to greater and less predictable price changes than the securities of larger capitalization companies.
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Preferred Securities Risk [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Preferred Securities Risk — Preferred securities may pay fixed or adjustable rates of return. Preferred securities are subject to issuer-specific and market risks applicable generally to equity securities. In addition, a company’s preferred securities generally pay dividends only after the company makes required payments to holders of its bonds and other debt. For this reason, the value of preferred securities will usually react more strongly than bonds and other debt to actual or perceived changes in the company’s financial condition or prospects. Preferred securities of smaller companies may be more vulnerable to adverse developments than preferred securities of larger companies.
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Rights Risk [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Rights Risk The failure to exercise subscription rights to purchase common stock would result in the dilution of the Fund’s interest in the issuing company. The market for such rights is not well developed, and, accordingly, the Fund may not always realize full value on the sale of rights.
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Risk of Investing in the United States [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Risk of Investing in the United States Certain changes in the U.S. economy, such as when the U.S. economy weakens or when its financial markets decline, may have an adverse effect on the securities to which the Fund has exposure.
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Investor A Shares  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.25%
Maximum Deferred Sales Charge (Load) (as a percentage of offering price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOfferingPrice none [1]
Management Fee rr_ManagementFeesOverAssets 0.62% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.12%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.99% [3]
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets [2],[4]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.99% [2],[4]
1 Year rr_ExpenseExampleYear01 $ 621
3 Years rr_ExpenseExampleYear03 824
5 Years rr_ExpenseExampleYear05 1,043
10 Years rr_ExpenseExampleYear10 $ 1,674
2014 rr_AnnualReturn2014 8.35%
2015 rr_AnnualReturn2015 6.86%
2016 rr_AnnualReturn2016 (0.36%)
2017 rr_AnnualReturn2017 32.59%
2018 rr_AnnualReturn2018 1.74%
2019 rr_AnnualReturn2019 31.85%
2020 rr_AnnualReturn2020 40.09%
2021 rr_AnnualReturn2021 20.69%
2022 rr_AnnualReturn2022 (37.84%)
2023 rr_AnnualReturn2023 48.85%
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2024
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 22.39%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 28.78%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2022
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (23.09%)
1 Year rr_AverageAnnualReturnYear01 41.04%
5 Years rr_AverageAnnualReturnYear05 14.34%
10 Years rr_AverageAnnualReturnYear10 11.77%
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Investor C Shares  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of offering price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00% [5]
Management Fee rr_ManagementFeesOverAssets 0.62% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.21%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.83% [3]
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets [2],[4]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.83% [2],[4]
1 Year rr_ExpenseExampleYear01 $ 286
3 Years rr_ExpenseExampleYear03 576
5 Years rr_ExpenseExampleYear05 990
10 Years rr_ExpenseExampleYear10 1,928
1 Year rr_ExpenseExampleNoRedemptionYear01 186
3 Years rr_ExpenseExampleNoRedemptionYear03 576
5 Years rr_ExpenseExampleNoRedemptionYear05 990
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,928
1 Year rr_AverageAnnualReturnYear01 46.62%
5 Years rr_AverageAnnualReturnYear05 14.66%
10 Years rr_AverageAnnualReturnYear10 11.65%
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Institutional Shares  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of offering price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Management Fee rr_ManagementFeesOverAssets 0.62% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.12%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.74% [3]
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets [2],[4]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.74% [2],[4]
1 Year rr_ExpenseExampleYear01 $ 76
3 Years rr_ExpenseExampleYear03 237
5 Years rr_ExpenseExampleYear05 411
10 Years rr_ExpenseExampleYear10 $ 918
1 Year rr_AverageAnnualReturnYear01 49.26%
5 Years rr_AverageAnnualReturnYear05 15.88%
10 Years rr_AverageAnnualReturnYear10 12.67%
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Class R Shares  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of offering price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Management Fee rr_ManagementFeesOverAssets 0.62% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other Expenses rr_OtherExpensesOverAssets 0.23%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.35% [3]
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets [2],[4]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.35% [2],[4]
1 Year rr_ExpenseExampleYear01 $ 137
3 Years rr_ExpenseExampleYear03 428
5 Years rr_ExpenseExampleYear05 739
10 Years rr_ExpenseExampleYear10 $ 1,624
1 Year rr_AverageAnnualReturnYear01 48.33%
5 Years rr_AverageAnnualReturnYear05 15.20%
10 Years rr_AverageAnnualReturnYear10 12.03%
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Return After Taxes on Distributions | Investor A Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 39.78%
5 Years rr_AverageAnnualReturnYear05 12.17%
10 Years rr_AverageAnnualReturnYear10 9.06%
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Return After Taxes on Distributions and Sale of Fund Shares | Investor A Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 25.08%
5 Years rr_AverageAnnualReturnYear05 11.22%
10 Years rr_AverageAnnualReturnYear10 8.75%
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | S&P 500® Index (Reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 26.29%
5 Years rr_AverageAnnualReturnYear05 15.69%
10 Years rr_AverageAnnualReturnYear10 12.03%
Investor A, C, Institutional and Class R | BLACKROCK CAPITAL APPRECIATION FUND, INC. | Russell 1000® Growth Index (Reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 42.68%
5 Years rr_AverageAnnualReturnYear05 19.50%
10 Years rr_AverageAnnualReturnYear10 14.86%
[1] A contingent deferred sales charge (“CDSC”) of 1.00% is assessed on certain redemptions of Investor A Shares made within 18 months after purchase where no initial sales charge was paid at the time of purchase as part of an investment of $1,000,000 or more.
[2] As described in the “Management of the Fund” section of the Fund’s prospectus beginning on page 40, BlackRock has contractually agreed to waive the management fee with respect to any portion of the Fund’s assets estimated to be attributable to investments in other equity and fixed-income mutual funds and exchange-traded funds managed by BlackRock or its affiliates that have a contractual management fee, through June 30, 2026. In addition, BlackRock has contractually agreed to waive its management fees by the amount of investment advisory fees the Fund pays to BlackRock indirectly through its investment in money market funds managed by BlackRock or its affiliates, through June 30, 2026. The contractual agreements may be terminated upon 90 days’ notice by a majority of the non-interested directors of the Fund or by a vote of a majority of the outstanding voting securities of the Fund.
[3] The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets given in the Fund’s most recent annual financial statements, which includes extraordinary expenses.
[4] As described in the “Management of the Fund” section of the Fund’s prospectus beginning on page 40, BlackRock has contractually agreed to waive and/or reimburse fees or expenses in order to limit Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements (excluding Dividend Expense, Interest Expense, Acquired Fund Fees and Expenses and certain other Fund expenses) to 1.94% (for Investor C Shares) of average daily net assets through June 30, 2035. On October 1 of each year, the waiver agreement will renew automatically for an additional one year so that the agreement will have a perpetual ten-year term. The contractual agreement may be terminated upon 90 days’ notice by a majority of the non-interested directors of the Fund or by a vote of a majority of the outstanding voting securities of the Fund.
[5] There is no CDSC on Investor C Shares after one year.