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<!-- Generated by DFIN XBRL Schema Document - http://www.dfinsolutions.com/ - on 30-06-2026 10:36:00 PM -->
<!-- Copyright(c) 2026 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
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				<link:label xlink:type="resource" xlink:label="label_C000220895Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">C000220895 [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000220895Member" xlink:to="label_C000220895Member_2"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_C000220896Member" xlink:label="C000220896Member"/>
				<link:label xlink:type="resource" xlink:label="label_C000220896Member" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Investor A</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000220896Member" xlink:to="label_C000220896Member"/>
				<link:label xlink:type="resource" xlink:label="label_C000220896Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">C000220896 [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000220896Member" xlink:to="label_C000220896Member_2"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_ManagedDistributionTaxRiskMember" xlink:label="ManagedDistributionTaxRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ManagedDistributionTaxRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Managed Distribution Tax Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ManagedDistributionTaxRiskMember" xlink:to="label_ManagedDistributionTaxRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_ModelRiskMember" xlink:label="ModelRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ModelRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Model Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ModelRiskMember" xlink:to="label_ModelRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_LimitedTermRiskMember" xlink:label="LimitedTermRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_LimitedTermRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Limited Term Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LimitedTermRiskMember" xlink:to="label_LimitedTermRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_AllocationRiskMember" xlink:label="AllocationRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_AllocationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Allocation Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllocationRiskMember" xlink:to="label_AllocationRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_CollateralizedDebtObligationsRiskMember" xlink:label="CollateralizedDebtObligationsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_CollateralizedDebtObligationsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Collateralized Debt Obligations Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CollateralizedDebtObligationsRiskMember" xlink:to="label_CollateralizedDebtObligationsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_ConvertibleSecuritiesRiskMember" xlink:label="ConvertibleSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ConvertibleSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Convertible Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertibleSecuritiesRiskMember" xlink:to="label_ConvertibleSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_CorporateLoansRiskMember" xlink:label="CorporateLoansRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_CorporateLoansRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Corporate Loans Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CorporateLoansRiskMember" xlink:to="label_CorporateLoansRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_CounterpartyRiskMember" xlink:label="CounterpartyRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_CounterpartyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Counterparty Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CounterpartyRiskMember" xlink:to="label_CounterpartyRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_CoveredCallRiskMember" xlink:label="CoveredCallRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_CoveredCallRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Covered Call Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CoveredCallRiskMember" xlink:to="label_CoveredCallRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_DebtSecuritiesRiskMember" xlink:label="DebtSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_DebtSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtSecuritiesRiskMember" xlink:to="label_DebtSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_DerivativesRisksMember" xlink:label="DerivativesRisksMember"/>
				<link:label xlink:type="resource" xlink:label="label_DerivativesRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivatives Risks [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativesRisksMember" xlink:to="label_DerivativesRisksMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_DistressedSecuritiesRiskMember" xlink:label="DistressedSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_DistressedSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Distressed Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistressedSecuritiesRiskMember" xlink:to="label_DistressedSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_DollarRollsRiskMember" xlink:label="DollarRollsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_DollarRollsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dollar Rolls Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DollarRollsRiskMember" xlink:to="label_DollarRollsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_EmergingMarketsRiskMember" xlink:label="EmergingMarketsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_EmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Emerging Markets Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmergingMarketsRiskMember" xlink:to="label_EmergingMarketsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_EquitySecuritiesRiskMember" xlink:label="EquitySecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_EquitySecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquitySecuritiesRiskMember" xlink:to="label_EquitySecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_ForeignSecuritiesRiskMember" xlink:label="ForeignSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ForeignSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignSecuritiesRiskMember" xlink:to="label_ForeignSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_HighYieldBondsRiskMember" xlink:label="HighYieldBondsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_HighYieldBondsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">High Yield Bonds Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HighYieldBondsRiskMember" xlink:to="label_HighYieldBondsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_IlliquidInvestmentsRiskMember" xlink:label="IlliquidInvestmentsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_IlliquidInvestmentsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Illiquid Investments Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IlliquidInvestmentsRiskMember" xlink:to="label_IlliquidInvestmentsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_IndexedSecuritiesRiskMember" xlink:label="IndexedSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_IndexedSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Indexed Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndexedSecuritiesRiskMember" xlink:to="label_IndexedSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_InvestmentInOtherInvestmentCompaniesRiskMember" xlink:label="InvestmentInOtherInvestmentCompaniesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_InvestmentInOtherInvestmentCompaniesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Investment in Other Investment Companies Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentInOtherInvestmentCompaniesRiskMember" xlink:to="label_InvestmentInOtherInvestmentCompaniesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_LargeCapitalizationCompaniesRiskMember" xlink:label="LargeCapitalizationCompaniesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_LargeCapitalizationCompaniesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Large Capitalization Companies Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LargeCapitalizationCompaniesRiskMember" xlink:to="label_LargeCapitalizationCompaniesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_LeverageRiskMember" xlink:label="LeverageRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_LeverageRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Leverage Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeverageRiskMember" xlink:to="label_LeverageRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_MarketRiskAndSelectionRiskMember" xlink:label="MarketRiskAndSelectionRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_MarketRiskAndSelectionRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Market Risk and Selection Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketRiskAndSelectionRiskMember" xlink:to="label_MarketRiskAndSelectionRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_MortgageAndAssetBackedSecuritiesRisksMember" xlink:label="MortgageAndAssetBackedSecuritiesRisksMember"/>
				<link:label xlink:type="resource" xlink:label="label_MortgageAndAssetBackedSecuritiesRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Mortgage and Asset Backed Securities Risks [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageAndAssetBackedSecuritiesRisksMember" xlink:to="label_MortgageAndAssetBackedSecuritiesRisksMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_NewIssuesRiskMember" xlink:label="NewIssuesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_NewIssuesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">New Issues Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewIssuesRiskMember" xlink:to="label_NewIssuesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_OperationalAndTechnologyRisksMember" xlink:label="OperationalAndTechnologyRisksMember"/>
				<link:label xlink:type="resource" xlink:label="label_OperationalAndTechnologyRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operational and Technology Risks [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperationalAndTechnologyRisksMember" xlink:to="label_OperationalAndTechnologyRisksMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_PreferredSecuritiesRiskMember" xlink:label="PreferredSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_PreferredSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSecuritiesRiskMember" xlink:to="label_PreferredSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_ReferenceRateReplacementRiskMember" xlink:label="ReferenceRateReplacementRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_ReferenceRateReplacementRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Reference Rate Replacement Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReferenceRateReplacementRiskMember" xlink:to="label_ReferenceRateReplacementRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_REITInvestmentRiskMember" xlink:label="REITInvestmentRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_REITInvestmentRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">REIT Investment Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="REITInvestmentRiskMember" xlink:to="label_REITInvestmentRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_RepurchaseAgreementsAndPurchaseAndSaleContractsRiskMember" xlink:label="RepurchaseAgreementsAndPurchaseAndSaleContractsRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_RepurchaseAgreementsAndPurchaseAndSaleContractsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Repurchase Agreements and Purchase and Sale Contracts Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseAgreementsAndPurchaseAndSaleContractsRiskMember" xlink:to="label_RepurchaseAgreementsAndPurchaseAndSaleContractsRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_RestrictedSecuritiesRiskMember" xlink:label="RestrictedSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_RestrictedSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Restricted Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedSecuritiesRiskMember" xlink:to="label_RestrictedSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_RiskOfInvestingInTheUnitedStatesMember" xlink:label="RiskOfInvestingInTheUnitedStatesMember"/>
				<link:label xlink:type="resource" xlink:label="label_RiskOfInvestingInTheUnitedStatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risk of Investing in the United States [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RiskOfInvestingInTheUnitedStatesMember" xlink:to="label_RiskOfInvestingInTheUnitedStatesMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_StructuredSecuritiesRiskMember" xlink:label="StructuredSecuritiesRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_StructuredSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Structured Securities Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StructuredSecuritiesRiskMember" xlink:to="label_StructuredSecuritiesRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_USGovernmentIssuerRiskMember" xlink:label="USGovernmentIssuerRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_USGovernmentIssuerRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">U S Government Issuer Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USGovernmentIssuerRiskMember" xlink:to="label_USGovernmentIssuerRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_VariableAndFloatingRateInstrumentRiskMember" xlink:label="VariableAndFloatingRateInstrumentRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_VariableAndFloatingRateInstrumentRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Variable and Floating Rate Instrument Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VariableAndFloatingRateInstrumentRiskMember" xlink:to="label_VariableAndFloatingRateInstrumentRiskMember"/>
				<link:loc xlink:type="locator" xlink:href="#bf2_AffiliatedFundRiskMember" xlink:label="AffiliatedFundRiskMember"/>
				<link:label xlink:type="resource" xlink:label="label_AffiliatedFundRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Affiliated Fund Risk [Member]</link:label>
				<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AffiliatedFundRiskMember" xlink:to="label_AffiliatedFundRiskMember"/>
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	<xs:element name="ThirtyThreeThirtyFourMSCIWorldHighDividendYieldIndexNet3333BloombergUSCorporateHighYield2IssuerCappedIndex3333BloombergUSAggregateBondIndexMember" id="bf2_ThirtyThreeThirtyFourMSCIWorldHighDividendYieldIndexNet3333BloombergUSCorporateHighYield2IssuerCappedIndex3333BloombergUSAggregateBondIndexMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MSCIWorldIndexNetMember" id="bf2_MSCIWorldIndexNetMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="FiftyMSCIWorldIndexNet50BloombergUSAggregateBondIndexMember" id="bf2_FiftyMSCIWorldIndexNet50BloombergUSAggregateBondIndexMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="BloombergUSAggregateBondIndexMember" id="bf2_BloombergUSAggregateBondIndexMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
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	<xs:element name="AllocationRiskMember" id="bf2_AllocationRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="CollateralizedDebtObligationsRiskMember" id="bf2_CollateralizedDebtObligationsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ConvertibleSecuritiesRiskMember" id="bf2_ConvertibleSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="CorporateLoansRiskMember" id="bf2_CorporateLoansRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="CounterpartyRiskMember" id="bf2_CounterpartyRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="CoveredCallRiskMember" id="bf2_CoveredCallRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="DebtSecuritiesRiskMember" id="bf2_DebtSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="DerivativesRisksMember" id="bf2_DerivativesRisksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="DistressedSecuritiesRiskMember" id="bf2_DistressedSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="DollarRollsRiskMember" id="bf2_DollarRollsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="EmergingMarketsRiskMember" id="bf2_EmergingMarketsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="EquitySecuritiesRiskMember" id="bf2_EquitySecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ForeignSecuritiesRiskMember" id="bf2_ForeignSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="HighYieldBondsRiskMember" id="bf2_HighYieldBondsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="IlliquidInvestmentsRiskMember" id="bf2_IlliquidInvestmentsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="IndexedSecuritiesRiskMember" id="bf2_IndexedSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="InvestmentInOtherInvestmentCompaniesRiskMember" id="bf2_InvestmentInOtherInvestmentCompaniesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LargeCapitalizationCompaniesRiskMember" id="bf2_LargeCapitalizationCompaniesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LeverageRiskMember" id="bf2_LeverageRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MarketRiskAndSelectionRiskMember" id="bf2_MarketRiskAndSelectionRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MortgageAndAssetBackedSecuritiesRisksMember" id="bf2_MortgageAndAssetBackedSecuritiesRisksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="NewIssuesRiskMember" id="bf2_NewIssuesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="OperationalAndTechnologyRisksMember" id="bf2_OperationalAndTechnologyRisksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="PreferredSecuritiesRiskMember" id="bf2_PreferredSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ReferenceRateReplacementRiskMember" id="bf2_ReferenceRateReplacementRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="REITInvestmentRiskMember" id="bf2_REITInvestmentRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="RepurchaseAgreementsAndPurchaseAndSaleContractsRiskMember" id="bf2_RepurchaseAgreementsAndPurchaseAndSaleContractsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="RestrictedSecuritiesRiskMember" id="bf2_RestrictedSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="RiskOfInvestingInTheUnitedStatesMember" id="bf2_RiskOfInvestingInTheUnitedStatesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="StructuredSecuritiesRiskMember" id="bf2_StructuredSecuritiesRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="USGovernmentIssuerRiskMember" id="bf2_USGovernmentIssuerRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="VariableAndFloatingRateInstrumentRiskMember" id="bf2_VariableAndFloatingRateInstrumentRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="AffiliatedFundRiskMember" id="bf2_AffiliatedFundRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>

</xs:schema>
