BACIX vs. BDJ

Last updated Jun 4, 2026

BACIX (BlackRock Energy Opportunities Fund) and BDJ (BlackRock Enhanced Equity Dividend Fund) are both mutual funds - BACIX is a Energy Equities fund managed by BlackRock, while BDJ is a Derivative Income fund managed by BlackRock. Over the past 10 years, BACIX returned 9.06%/yr vs 10.11%/yr for BDJ. At a 0.47 correlation, their price movements are largely independent. BACIX charges 0.91%/yr vs 0.86%/yr for BDJ.

Performance

BACIX vs. BDJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Energy Opportunities Fund (BACIX) and BlackRock Enhanced Equity Dividend Fund (BDJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BACIX achieves a 29.12% return, which is significantly higher than BDJ's 0.25% return. Over the past 10 years, BACIX has underperformed BDJ with an annualized return of 9.06%, while BDJ has yielded a comparatively higher 10.11% annualized return.

BACIX

• 1D: 1.36%
• 1M: -2.77%
• YTD: 29.12%
• 6M: 27.86%
• 1Y: 41.98%
• 3Y*: 17.59%
• 5Y*: 18.93%
• 10Y*: 9.06%

BDJ

• 1D: 0.22%
• 1M: 1.45%
• YTD: 0.25%
• 6M: 6.07%
• 1Y: 17.25%
• 3Y*: 13.78%
• 5Y*: 6.76%
• 10Y*: 10.11%

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

BACIX vs. BDJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BACIX BlackRock Energy Opportunities Fund	29.12%	11.03%	4.23%	2.97%	43.64%	43.50%	-29.38%	13.04%	-19.55%	2.47%
BDJ BlackRock Enhanced Equity Dividend Fund	0.25%	26.12%	16.87%	-6.67%	0.83%	26.56%	-7.58%	37.43%	-10.42%	20.78%

Correlation

The correlation between BACIX and BDJ is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Aug 30, 2005	0.47

Over the past year, the correlation between BACIX and BDJ has dropped to 0.00 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.

Return for Risk

BACIX vs. BDJ — Risk / Return Rank

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

BACIX

BACIX Risk / Return Rank: 71
BACIX Sharpe Ratio Rank: 76
BACIX Sortino Ratio Rank: 58
BACIX Omega Ratio Rank: 55
BACIX Calmar Ratio Rank: 91
BACIX Martin Ratio Rank: 75

BDJ

BDJ Risk / Return Rank: 22
BDJ Sharpe Ratio Rank: 26
BDJ Sortino Ratio Rank: 25
BDJ Omega Ratio Rank: 24
BDJ Calmar Ratio Rank: 16
BDJ Martin Ratio Rank: 19

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.

BACIX vs. BDJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Energy Opportunities Fund (BACIX) and BlackRock Enhanced Equity Dividend Fund (BDJ). 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.

	BACIX	BDJ	Difference
Sharpe ratio Return per unit of total volatility	2.52	1.45	+1.07
Sortino ratio Return per unit of downside risk	3.21	2.09	+1.12
Omega ratio Gain probability vs. loss probability	1.41	1.25	+0.16
Calmar ratio Return relative to maximum drawdown	4.80	1.41	+3.39
Martin ratio Return relative to average drawdown	14.31	5.21	+9.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BACIX vs. BDJ - Sharpe Ratio Comparison

The current BACIX Sharpe Ratio is 2.52, which is higher than the BDJ Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of BACIX and BDJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BACIX	BDJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	1.45	+1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.42	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.55	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.31	-0.12

Drawdowns

BACIX vs. BDJ - Drawdown Comparison

The maximum BACIX drawdown since its inception was -77.81%, which is greater than BDJ's maximum drawdown of -59.46%. Use the drawdown chart below to compare losses from any high point for BACIX and BDJ.

Drawdown Indicators

	BACIX	BDJ	Difference
Max Drawdown Largest peak-to-trough decline	-77.81%	-59.46%	-18.35%
Max Drawdown (1Y) Largest decline over 1 year	-9.03%	-12.28%	+3.25%
Max Drawdown (3Y) Largest decline over 3 years	-18.44%	-15.70%	-2.74%
Max Drawdown (5Y) Largest decline over 5 years	-25.76%	-21.39%	-4.37%
Max Drawdown (10Y) Largest decline over 10 years	-65.65%	-48.14%	-17.51%
Current Drawdown Current decline from peak	-5.73%	-3.29%	-2.44%
Average Drawdown Average peak-to-trough decline	-32.36%	-8.96%	-23.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	3.32%	-0.30%

Volatility

BACIX vs. BDJ - Volatility Comparison

BlackRock Energy Opportunities Fund (BACIX) has a higher volatility of 6.96% compared to BlackRock Enhanced Equity Dividend Fund (BDJ) at 3.38%. This indicates that BACIX's price experiences larger fluctuations and is considered to be riskier than BDJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BACIX	BDJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	3.38%	+3.58%
Volatility (6M) Calculated over the trailing 6-month period	14.11%	9.32%	+4.79%
Volatility (1Y) Calculated over the trailing 1-year period	17.25%	11.92%	+5.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.53%	16.17%	+7.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.21%	18.41%	+8.80%

BACIX vs. BDJ - Expense Ratio Comparison

BACIX has a 0.91% expense ratio, which is higher than BDJ's 0.86% expense ratio.

Dividends

BACIX vs. BDJ - Dividend Comparison

BACIX's dividend yield for the trailing twelve months is around 2.16%, less than BDJ's 9.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BACIX BlackRock Energy Opportunities Fund	2.16%	2.79%	2.63%	3.39%	2.49%	2.67%	3.66%	3.06%	3.43%	2.76%	2.38%	2.51%
BDJ BlackRock Enhanced Equity Dividend Fund	9.31%	9.03%	8.21%	9.49%	12.18%	5.95%	7.08%	6.66%	7.21%	6.07%	6.88%	7.36%

Frequently Asked Questions

Can I hold both BACIX and BDJ in my portfolio?

BACIX and BDJ have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BACIX or BDJ?

BACIX has higher volatility (6.96%) compared to BDJ (3.38%). In terms of maximum drawdown, BACIX dropped -77.81% vs BDJ's -59.46%.

Which has better risk-adjusted returns?

BACIX currently has the higher Sharpe Ratio (2.52 vs 1.45), 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.