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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in BlackRock High Yield Bond Portfolio Institutional Shares, 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 High Yield Bond Portfolio Institutional Shares (BHYIX) has returned -1.59% so far this year and 6.58% over the past 12 months. Over the last ten years, BHYIX has returned 5.93% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
BlackRock High Yield Bond Portfolio Institutional Shares
- 1D
- 0.14%
- 1M
- -2.23%
- YTD
- -1.59%
- 6M
- 0.03%
- 1Y
- 6.58%
- 3Y*
- 8.30%
- 5Y*
- 4.15%
- 10Y*
- 5.93%
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 Nov 18, 1998, BHYIX's average daily return is +0.03%, while the average monthly return is +0.57%. At this rate, your investment would double in approximately 10.2 years.
Historically, 70% of months were positive and 30% were negative. The best month was Apr 2009 with a return of +8.5%, while the worst month was Oct 2008 at -15.5%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.
On a daily basis, BHYIX closed higher 40% of trading days. The best single day was Apr 9, 2020 with a return of +3.8%, while the worst single day was Mar 16, 2020 at -4.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.42% | 0.23% | -2.23% | -1.59% | |||||||||
| 2025 | 1.42% | 0.53% | -1.12% | 0.13% | 1.87% | 1.83% | 0.58% | 1.27% | 0.70% | 0.42% | 0.54% | 0.67% | 9.18% |
| 2024 | 0.14% | 0.43% | 1.32% | -0.66% | 1.09% | 1.02% | 1.74% | 1.58% | 1.23% | -0.54% | 1.28% | -0.37% | 8.55% |
| 2023 | 4.16% | -1.54% | 1.33% | 0.99% | -1.02% | 1.24% | 1.34% | 0.31% | -1.02% | -1.20% | 4.40% | 3.70% | 13.19% |
| 2022 | -2.55% | -0.94% | -0.50% | -3.48% | -0.11% | -7.17% | 5.76% | -2.39% | -3.91% | 2.67% | 2.04% | -0.64% | -11.24% |
| 2021 | 0.01% | 0.64% | 0.29% | 1.17% | 0.41% | 1.56% | 0.28% | 0.52% | 0.00% | -0.51% | -1.02% | 2.09% | 5.53% |
Benchmark Metrics
BlackRock High Yield Bond Portfolio Institutional Shares has an annualized alpha of 5.95%, beta of 0.10, and R² of 0.13 versus S&P 500 Index. Calculated based on daily prices since November 19, 1998.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (43.35%) than losses (33.23%) — typical of diversified or defensive assets.
- Beta of 0.10 may look defensive, but with R² of 0.13 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 0.13 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 5.95%
- Beta
- 0.10
- R²
- 0.13
- Upside Capture
- 43.35%
- Downside Capture
- 33.23%
Expense Ratio
BHYIX has an expense ratio of 0.59%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BHYIX ranks 89 for risk / return — in the top 89% 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 High Yield Bond Portfolio Institutional Shares (BHYIX) and compare them to a chosen benchmark (S&P 500 Index).
| BHYIX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.88 | 0.90 | +0.99 |
Sortino ratioReturn per unit of downside risk | 2.67 | 1.39 | +1.29 |
Omega ratioGain probability vs. loss probability | 1.43 | 1.21 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.40 | +0.66 |
Martin ratioReturn relative to average drawdown | 9.42 | 6.61 | +2.81 |
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 BHYIX 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 High Yield Bond Portfolio Institutional Shares provided a 6.65% dividend yield over the last twelve months, with an annual payout of $0.47 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.47 | $0.51 | $0.53 | $0.43 | $0.33 | $0.37 | $0.40 | $0.44 | $0.45 | $0.45 | $0.46 | $0.45 |
Dividend yield | 6.65% | 7.05% | 7.46% | 6.15% | 4.91% | 4.73% | 5.12% | 5.70% | 6.33% | 5.82% | 5.96% | 6.33% |
Monthly Dividends
The table displays the monthly dividend distributions for BlackRock High Yield Bond Portfolio Institutional Shares. 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 | $0.04 | $0.04 | $0.00 | $0.08 | |||||||||
| 2025 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.07 | $0.51 |
| 2024 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.07 | $0.53 |
| 2023 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.00 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.43 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.00 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.33 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.06 | $0.37 |
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 High Yield Bond Portfolio Institutional Shares. 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 High Yield Bond Portfolio Institutional Shares was 34.82%, occurring on Dec 16, 2008. Recovery took 212 trading sessions.
The current BlackRock High Yield Bond Portfolio Institutional Shares drawdown is 2.27%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -34.82% | Jun 4, 2007 | 390 | Dec 16, 2008 | 212 | Oct 20, 2009 | 602 |
| -23.23% | Feb 18, 2020 | 25 | Mar 23, 2020 | 140 | Oct 9, 2020 | 165 |
| -15.45% | Jan 3, 2022 | 188 | Sep 29, 2022 | 314 | Dec 29, 2023 | 502 |
| -11.98% | Sep 8, 2000 | 62 | Dec 5, 2000 | 325 | Mar 28, 2002 | 387 |
| -11.9% | Jun 3, 2015 | 176 | Feb 11, 2016 | 104 | Jul 12, 2016 | 280 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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