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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in BlackRock Defensive Advantage Emerging Markets Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
BlackRock Defensive Advantage Emerging Markets Fund (BADEX) has returned -0.28% so far this year and 10.81% over the past 12 months.
BlackRock Defensive Advantage Emerging Markets Fund
- 1D
- -0.65%
- 1M
- -7.80%
- YTD
- -0.28%
- 6M
- 2.63%
- 1Y
- 10.81%
- 3Y*
- 10.26%
- 5Y*
- 4.56%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Dec 24, 2020, BADEX's average daily return is +0.02%, while the average monthly return is +0.49%. At this rate, your investment would double in approximately 11.8 years.
Historically, 55% of months were positive and 45% were negative. The best month was Nov 2022 with a return of +10.4%, while the worst month was Mar 2026 at -7.8%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 6 months.
On a daily basis, BADEX closed higher 49% of trading days. The best single day was Mar 16, 2022 with a return of +3.2%, while the worst single day was Apr 7, 2025 at -3.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.65% | 2.37% | -7.80% | -0.28% | |||||||||
| 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 1.66%, beta of 0.36, and R² of 0.36 versus S&P 500 Index. Calculated based on daily prices since December 28, 2020.
- This fund participated in 52.36% of S&P 500 Index downside but only 43.42% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.36 may look defensive, but with R² of 0.36 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 0.36 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
- 1.66%
- Beta
- 0.36
- R²
- 0.36
- Upside Capture
- 43.42%
- Downside Capture
- 52.36%
Expense Ratio
BADEX has a high expense ratio of 1.06%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BADEX ranks 48 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for BlackRock Defensive Advantage Emerging Markets Fund (BADEX) and compare them to a chosen benchmark (S&P 500 Index).
| BADEX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.07 | 0.90 | +0.17 |
Sortino ratioReturn per unit of downside risk | 1.42 | 1.39 | +0.03 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.40 | -0.30 |
Martin ratioReturn relative to average drawdown | 4.45 | 6.61 | -2.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore BADEX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
BlackRock Defensive Advantage Emerging Markets Fund provided a 7.54% 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 | 7.54% | 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 | |||||||||
| 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.
The current BlackRock Defensive Advantage Emerging Markets Fund drawdown is 8.89%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -21.86% | Jun 15, 2021 | 339 | Oct 14, 2022 | 398 | May 16, 2024 | 737 |
| -8.89% | Feb 26, 2026 | 23 | Mar 30, 2026 | — | — | — |
| -8.07% | Oct 3, 2024 | 127 | Apr 7, 2025 | 16 | Apr 30, 2025 | 143 |
| -5.98% | Feb 17, 2021 | 14 | Mar 8, 2021 | 58 | May 28, 2021 | 72 |
| -4.24% | Jul 17, 2024 | 14 | Aug 5, 2024 | 9 | Aug 16, 2024 | 23 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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