BlackRock Global Supplement
BlackRock Advantage Global Fund, Inc.
BlackRock Advantage SMID Cap Fund, Inc.
BlackRock
Asian Dragon Fund, Inc.
BlackRock Balanced Capital Fund, Inc.
BlackRock Basic Value Fund, Inc.
BlackRock Bond
Fund, Inc.
BlackRock Total Return Fund
BlackRock
California Municipal Series Trust
BlackRock California Municipal Opportunities Fund
BlackRock Capital Appreciation Fund, Inc.
BlackRock
Emerging Markets Fund, Inc.
BlackRock Equity Dividend Fund
BlackRock EuroFund
BlackRock Financial Institutions
Series Trust
BlackRock Summit Cash Reserves Fund
BlackRock FundsSM
BlackRock Advantage Emerging Markets Fund
BlackRock Advantage
ESG Emerging Markets Equity Fund
BlackRock Advantage ESG International Equity Fund
BlackRock Advantage ESG U.S. Equity Fund
BlackRock Advantage
International Fund
BlackRock Advantage Large Cap Growth Fund
BlackRock Advantage Small Cap Core Fund
BlackRock Advantage
Small Cap Growth Fund
BlackRock Commodity Strategies Fund
BlackRock Defensive Advantage Emerging Markets Fund
BlackRock
Defensive Advantage International Fund
BlackRock Defensive Advantage U.S. Fund
BlackRock Energy Opportunities 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 Mid-Cap Growth Equity Portfolio
BlackRock Real Estate Securities Fund
BlackRock Short
Obligations Fund
BlackRock Tactical Opportunities Fund
BlackRock Technology Opportunities Fund
BlackRock Total Factor
Fund
BlackRock U.S. Impact Fund
BlackRock Wealth Liquid
Environmentally Aware 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 Dynamic High
Income Portfolio
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
BlackRock Funds IV
BlackRock Global Long/Short Credit
Fund
BlackRock Systematic ESG Bond Fund
BlackRock
Systematic Multi-Strategy Fund
BlackRock Funds V
BlackRock Core Bond Portfolio
BlackRock Emerging Markets
Flexible Dynamic Bond Portfolio
BlackRock Floating Rate Income Portfolio
BlackRock GNMA Portfolio
BlackRock High Yield Bond Portfolio
BlackRock Income Fund
BlackRock Inflation Protected Bond
Portfolio
BlackRock Low Duration Bond Portfolio
BlackRock
Strategic Income Opportunities Portfolio
BlackRock U.S. Government Bond Portfolio
BlackRock Funds VI
BlackRock CoreAlpha Bond Fund
BlackRock Global Allocation
Fund, Inc.
BlackRock Large Cap Focus Growth Fund, Inc.
BlackRock Large Cap Series Funds, Inc.
BlackRock
Advantage Large Cap Core Fund
BlackRock Advantage Large Cap Value Fund
BlackRock Event Driven Equity Fund
BlackRock Latin America
Fund, Inc.
BlackRock Long-Horizon Equity Fund
BlackRock Mid Cap Dividend Series, Inc.
BlackRock Mid
Cap Dividend Fund
BlackRock Multi-State Municipal Series Trust
BlackRock New Jersey Municipal Bond Fund
BlackRock New York
Municipal Opportunities Fund
BlackRock Pennsylvania Municipal Bond Fund
BlackRock Municipal Bond Fund, Inc.
BlackRock High Yield
Municipal Fund
BlackRock National Municipal Fund
BlackRock
Short-Term Municipal Fund
BlackRock Municipal Series Trust
BlackRock Strategic Municipal Opportunities Fund
BlackRock
Natural Resources Trust
BlackRock Series, Inc.
BlackRock International Fund
BlackRock Strategic Global Bond
Fund, Inc.
Managed Account Series II
BlackRock
U.S. Mortgage Portfolio
(each, a
“Fund” and collectively, the “Funds”)
Supplement dated May 24, 2021 to the Investor A and/or Investor C Shares
Prospectus of each Fund (each, a “Prospectus”)
The following is added to the section of each Prospectus entitled
“Intermediary-Defined Sales Charge Waiver Policies”:
D.A. Davidson & Co. (“D.A. Davidson”):
Effective March 1, 2021, shareholders purchasing Fund shares including existing Fund shareholders, through a D.A. Davidson platform or account, or
through an introducing broker-dealer or independent registered investment advisor for which D.A. Davidson provides trade execution, clearance, and/or custody services, will be eligible for the following sales charge waivers (front-end sales charge
waivers and contingent deferred, or back-end, sales charge waivers) and discounts, which may differ from those disclosed elsewhere in this Prospectus or the Funds’ SAI.
Front-End Sales Charge Waivers on Investor A Shares available at D.A. Davidson
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Shares purchased of the same Fund or another BlackRock Fund through a systematic reinvestment of capital gains
and dividend distributions. |
| ◾ |
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Shares purchased by employees and registered representatives of D.A. Davidson or its affiliates and their family
members as designated by D.A. Davidson. |
| ◾ |
|
Shares purchased from the proceeds of redemptions of the same Fund or another BlackRock Fund, provided
(1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred
sales charge (known as Rights of Reinstatement). |
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| ◾ |
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A shareholder in the Fund’s Investor C Shares will have their shares converted at net asset value to
Investor A Shares (or the appropriate share class) of the Fund if the shares are no longer subject to a CDSC and the conversion is consistent with D.A. Davidson’s policies and procedures. |
CDSC Waivers on Investor A and C Shares Available at D.A. Davidson
| ◾ |
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Shares sold due to the death or disability of the shareholder. |
| ◾ |
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Shares sold as part of a systematic withdrawal plan as described in the Fund’s prospectus.
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| ◾ |
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Shares bought due to return of excess contributions from an IRA account. |
| ◾ |
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Shares sold as part of a required minimum distribution for IRA or other qualifying retirement accounts pursuant
to the Internal Revenue Code. |
| ◾ |
|
Shares acquired through a Right of Reinstatement. |
Front-end sales charge discounts available at D.A. Davidson: Breakpoints, Rights of Accumulation and/or Letters of
Intent
| ◾ |
|
Breakpoints as described in this Prospectus. |
| ◾ |
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Rights of accumulation which entitle shareholders to breakpoint discounts will be automatically calculated based
on the aggregated holding of BlackRock Fund assets held by accounts within the purchaser’s household at D.A. Davidson. Eligible BlackRock Fund assets not held at D.A. Davidson may be included in the calculation of rights of accumulation only if
the shareholder notifies his or her financial advisor about such assets. |
| ◾ |
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Letters of intent which allow for breakpoint discounts based on anticipated purchases of BlackRock Funds, over a 13-month time period. Eligible BlackRock Fund assets not held at D.A. Davidson may be included in the calculation of letters of intent only if the shareholder notifies his or her financial advisor about such assets.
|
Shareholders should retain this Supplement for future reference.
PRO-IDSCW-0521SUP
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