BACAX vs. VGENX

Last updated Jul 14, 2026

BACAX (BlackRock Energy Opportunities Fund) and VGENX (Vanguard Energy Opportunities Fund Investor Shares) are both Energy Equities funds. Over the past 10 years, BACAX returned 7.59%/yr vs 8.70%/yr for VGENX. With a 0.96 correlation, they move nearly in lockstep. BACAX charges 1.32%/yr vs 0.45%/yr for VGENX.

Performance

BACAX vs. VGENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Energy Opportunities Fund (BACAX) and Vanguard Energy Opportunities Fund Investor Shares (VGENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BACAX achieves a 23.82% return, which is significantly higher than VGENX's 18.56% return. Over the past 10 years, BACAX has underperformed VGENX with an annualized return of 7.59%, while VGENX has yielded a comparatively higher 8.70% annualized return.

BACAX

• 1D: 0.29%
• 1M: -3.25%
• 6M: 21.81%
• YTD: 23.82%
• 1Y: 27.49%
• 3Y*: 14.03%
• 5Y*: 18.30%
• 10Y*: 7.59%

VGENX

• 1D: 0.37%
• 1M: -1.57%
• 6M: 17.47%
• YTD: 18.56%
• 1Y: 26.55%
• 3Y*: 25.74%
• 5Y*: 22.24%
• 10Y*: 8.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BACAX vs. VGENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BACAX BlackRock Energy Opportunities Fund	23.82%	10.53%	3.78%	2.61%	43.02%	42.93%	-29.68%	12.64%	-19.98%	2.07%
VGENX Vanguard Energy Opportunities Fund Investor Shares	18.56%	20.67%	30.25%	8.78%	23.59%	27.71%	-30.85%	13.23%	-17.19%	3.22%

Correlation

The correlation between BACAX and VGENX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Feb 24, 2005	0.96

The correlation between BACAX and VGENX shifts across timeframes, from 0.84 (1 year) to 0.96 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BACAX vs. VGENX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BACAX

BACAX Risk / Return Rank: 45
BACAX Sharpe Ratio Rank: 52
BACAX Sortino Ratio Rank: 44
BACAX Omega Ratio Rank: 44
BACAX Calmar Ratio Rank: 47
BACAX Martin Ratio Rank: 37

VGENX

VGENX Risk / Return Rank: 78
VGENX Sharpe Ratio Rank: 81
VGENX Sortino Ratio Rank: 79
VGENX Omega Ratio Rank: 75
VGENX Calmar Ratio Rank: 82
VGENX Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BACAX vs. VGENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Energy Opportunities Fund (BACAX) and Vanguard Energy Opportunities Fund Investor Shares (VGENX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	BACAX	VGENX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.12	-0.51
Sortino ratio: Return per unit of downside risk	2.15	2.94	-0.79
Omega ratio: Gain probability vs. loss probability	1.27	1.37	-0.10
Calmar ratio: Return relative to maximum drawdown	2.12	3.05	-0.94
Martin ratio: Return relative to average drawdown	6.38	10.43	-4.05

BACAX vs. VGENX - Sharpe Ratio Comparison

The current BACAX Sharpe Ratio is 1.61, which is comparable to the VGENX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of BACAX and VGENX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BACAX vs. VGENX - Drawdown Comparison

The maximum BACAX drawdown since its inception was -78.88%, which is greater than VGENX's maximum drawdown of -65.37%. Use the drawdown chart below to compare losses from any high point for BACAX and VGENX.

Drawdown Indicators

	BACAX	VGENX	Difference
Max Drawdown Largest peak-to-trough decline	-78.88%	-65.37%	-13.51%
Max Drawdown (1Y) Largest decline over 1 year	-13.36%	-8.76%	-4.60%
Max Drawdown (3Y) Largest decline over 3 years	-18.73%	-12.30%	-6.43%
Max Drawdown (5Y) Largest decline over 5 years	-25.74%	-19.72%	-6.02%
Max Drawdown (10Y) Largest decline over 10 years	-65.92%	-61.19%	-4.73%
Current Drawdown Current decline from peak	-9.59%	-5.43%	-4.16%
Average Drawdown Average peak-to-trough decline	-34.15%	-14.91%	-19.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.42%	2.56%	+1.86%

Volatility

BACAX vs. VGENX - Volatility Comparison

BlackRock Energy Opportunities Fund (BACAX) has a higher volatility of 6.03% compared to Vanguard Energy Opportunities Fund Investor Shares (VGENX) at 4.60%. This indicates that BACAX's price experiences larger fluctuations and is considered to be riskier than VGENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BACAX	VGENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.03%	4.60%	+1.43%
Volatility (6M) Calculated over the trailing 6-month period	14.53%	10.52%	+4.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.52%	12.61%	+4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.46%	18.68%	+4.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.14%	23.07%	+4.07%

BACAX vs. VGENX - Expense Ratio Comparison

BACAX has a 1.32% expense ratio, which is higher than VGENX's 0.45% expense ratio.

Dividends

BACAX vs. VGENX - Dividend Comparison

BACAX's dividend yield for the trailing twelve months is around 2.00%, less than VGENX's 7.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BACAX BlackRock Energy Opportunities Fund	2.00%	2.47%	2.29%	3.06%	2.21%	2.39%	3.38%	2.69%	2.87%	2.48%	1.95%	1.98%
VGENX Vanguard Energy Opportunities Fund Investor Shares	7.23%	4.71%	33.96%	6.83%	4.63%	3.63%	4.46%	3.30%	2.96%	2.96%	1.84%	2.63%

Frequently Asked Questions

Can I hold both BACAX and VGENX in my portfolio?

BACAX and VGENX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BACAX or VGENX?

BACAX has higher volatility (6.03%) compared to VGENX (4.60%). In terms of maximum drawdown, BACAX dropped -78.88% vs VGENX's -65.37%.

Which has better risk-adjusted returns?

VGENX currently has the higher Sharpe Ratio (2.12 vs 1.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.