- Issuer
- BlackRock
- Inception Date
- Dec 20, 2020
- Category
- Emerging Markets Diversified
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
BADEX Performance Chart
BlackRock Defensive Advantage Emerging Markets Fund (BADEX) is up 21.0% since the beginning of the year. BADEX is currently trading at $13 per share. Investors who bought $1,000 worth of BADEX shares 5 years ago would now be looking at an investment worth $1,471.
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Returns By Period
BlackRock Defensive Advantage Emerging Markets Fund (BADEX) has returned 21.04% so far this year and 30.50% over the past 12 months.
BlackRock Defensive Advantage Emerging Markets Fund
- 1D
- 1.56%
- 1M
- 5.83%
- YTD
- 21.04%
- 6M
- 21.38%
- 1Y
- 30.50%
- 3Y*
- 15.84%
- 5Y*
- 8.03%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BADEX Monthly Returns History
Based on dividend-adjusted daily data since Dec 24, 2020, BADEX's average daily return is +0.04%, while the average monthly return is +0.76%. At this rate, an investment would double in approximately 7.6 years.
Historically, 57% of months were positive and 43% were negative. The best month was Nov 2022 with a return of +10.4%, while the worst month was Sep 2022 at -7.3%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 6 months.
On a daily basis, BADEX closed higher 50% of trading days. The best single day was Apr 8, 2026 with a return of +3.8%, while the worst single day was Jun 5, 2026 at -3.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.65% | 2.37% | -6.34% | 8.69% | 6.82% | 2.92% | 21.04% | ||||||
| 2025 | 0.49% | -0.39% | 2.45% | 1.91% | 1.03% | 3.35% | -0.53% | 0.45% | 1.54% | 1.43% | -0.53% | 2.01% | 13.95% |
| 2024 | -1.16% | 4.39% | -0.00% | -0.72% | -0.21% | 2.38% | 2.14% | 2.29% | 3.99% | -3.00% | -0.68% | 0.55% | 10.15% |
| 2023 | 4.40% | -3.44% | 3.44% | 2.33% | -2.28% | 3.22% | 3.86% | -4.17% | -1.85% | -3.10% | 5.38% | 4.00% | 11.67% |
| 2022 | -0.60% | -0.50% | -0.51% | -4.18% | -0.32% | -5.97% | 1.33% | -1.34% | -7.26% | 0.37% | 10.37% | -2.30% | -11.34% |
| 2021 | 1.17% | 1.44% | 0.95% | 1.60% | 2.31% | -0.18% | -4.16% | 3.65% | -1.81% | -0.39% | -2.62% | 2.74% | 4.49% |
Benchmark Metrics
BlackRock Defensive Advantage Emerging Markets Fund has an annualized alpha of 3.80%, beta of 0.38, and R2 of 0.37 versus S&P 500 Index. Calculated based on daily prices since December 24, 2020.
- This fund participated in 47.86% of S&P 500 Index downside but only 47.82% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.38 may look defensive, but with R2 of 0.37 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.37 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 3.80%
- Beta
- 0.38
- R²
- 0.37
- Upside Capture
- 47.82%
- Downside Capture
- 47.86%
Expense Ratio
BADEX has a high expense ratio of 1.06%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BADEX ranks 81 for risk / return — in the top 81% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for BlackRock Defensive Advantage Emerging Markets Fund (BADEX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BADEX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.37 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.38 | 2.78 | +0.59 |
| Martin ratioReturn relative to average drawdown | 13.00 | 12.44 | +0.56 |
Dividends
Dividend History
BlackRock Defensive Advantage Emerging Markets Fund provided a 6.21% dividend yield over the last twelve months, with an annual payout of $0.81 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.81 | $0.81 | $0.23 | $0.18 | $0.21 | $0.75 | $0.00 |
Dividend yield | 6.21% | 7.52% | 2.27% | 1.92% | 2.43% | 7.54% | 0.03% |
Monthly Dividends
The table displays the monthly dividend distributions for BlackRock Defensive Advantage Emerging Markets Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.00 | $0.00 | $0.74 | $0.81 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.00 | $0.00 | $0.16 | $0.23 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.18 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.20 | $0.21 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.44 | $0.00 | $0.00 | $0.00 | $0.00 | $0.31 | $0.75 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the BlackRock Defensive Advantage Emerging Markets Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the BlackRock Defensive Advantage Emerging Markets Fund was 21.86%, occurring on Oct 14, 2022. Recovery took 398 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -21.86%Oct 2022 | 1y 4mo | 1y 7mo | 2y 11moJun 2021 - May 2024 |
2026 pullback2026 | -8.89%Mar 2026 | 1mo 2d | 18d | 1mo 20dFeb 2026 - Apr 2026 |
2025 selloff2025 | -8.07%Apr 2025 | 6mo 6d | 23d | 6mo 29dOct 2024 - Apr 2025 |
2021 pullback2021 | -5.98%Mar 2021 | 19d | 2mo 21d | 3mo 10dFeb 2021 - May 2021 |
2026 pullback2026 | -4.64%Jun 2026 | 2d | 10d | 12dJun 2026 - Jun 2026 |
Drawdown Indicators
| BADEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.86% | -56.78% | +34.92% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -9.10% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -10.29% | -18.90% | +8.61% |
Max Drawdown (5Y)Largest decline over 5 years | -21.15% | -25.43% | +4.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -5.59% | -10.71% | +5.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 2.03% | +0.28% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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