BIDD aims for long-term total return and current income by investing in dividend-paying equity securities issued by companies outside the US. Utilizing fundamental research, the fund primarily invests in equity securities that derive at least 50% of revenues, profits, sales, or have assets outside the United States. The fund invests in securities from various regions and at least three countries, including those from emerging markets. Securities can be USD- or non-USD-based or of any market capitalization with a bias towards large-cap securities. The fund may invest up to 20% in global fixed income securities or derivatives. BIDD is Blackrocks first active mutual fund to convert to an actively managed ETF structure on Nov. 19, 2024, starting with assets amounting to $755.9 million.