BACIX vs. RYEIX

Last updated Jun 3, 2026

BACIX (BlackRock Energy Opportunities Fund) and RYEIX (Rydex Energy Fund) are both Energy Equities funds. Over the past 10 years, BACIX returned 8.92%/yr vs 6.49%/yr for RYEIX. With a 0.96 correlation, they move nearly in lockstep. BACIX charges 0.91%/yr vs 1.36%/yr for RYEIX.

Performance

BACIX vs. RYEIX - Performance Comparison

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

Returns By Period

In the year-to-date period, BACIX achieves a 27.38% return, which is significantly lower than RYEIX's 33.33% return. Over the past 10 years, BACIX has outperformed RYEIX with an annualized return of 8.92%, while RYEIX has yielded a comparatively lower 6.49% annualized return.

BACIX

• 1D: 1.44%
• 1M: -3.48%
• YTD: 27.38%
• 6M: 28.05%
• 1Y: 41.22%
• 3Y*: 17.06%
• 5Y*: 18.61%
• 10Y*: 8.92%

RYEIX

• 1D: 1.23%
• 1M: -2.38%
• YTD: 33.33%
• 6M: 31.46%
• 1Y: 51.79%
• 3Y*: 16.35%
• 5Y*: 17.05%
• 10Y*: 6.49%

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

BACIX vs. RYEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BACIX BlackRock Energy Opportunities Fund	27.38%	11.03%	4.23%	2.97%	43.64%	43.50%	-29.38%	13.04%	-19.55%	2.47%
RYEIX Rydex Energy Fund	33.33%	6.96%	0.49%	1.87%	49.54%	50.70%	-34.24%	6.50%	-25.31%	-6.17%

Correlation

The correlation between BACIX and RYEIX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Feb 25, 2005	0.96

The correlation between BACIX and RYEIX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

BACIX vs. RYEIX — 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

RYEIX

RYEIX Risk / Return Rank: 80
RYEIX Sharpe Ratio Rank: 85
RYEIX Sortino Ratio Rank: 70
RYEIX Omega Ratio Rank: 62
RYEIX Calmar Ratio Rank: 94
RYEIX Martin Ratio Rank: 87

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. RYEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Energy Opportunities Fund (BACIX) and Rydex Energy Fund (RYEIX). 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	RYEIX	Difference
Sharpe ratio Return per unit of total volatility	2.53	2.76	-0.23
Sortino ratio Return per unit of downside risk	3.21	3.48	-0.27
Omega ratio Gain probability vs. loss probability	1.41	1.44	-0.03
Calmar ratio Return relative to maximum drawdown	4.75	5.39	-0.63
Martin ratio Return relative to average drawdown	14.30	16.84	-2.54
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. RYEIX - Sharpe Ratio Comparison

The current BACIX Sharpe Ratio is 2.53, which is comparable to the RYEIX Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of BACIX and RYEIX, 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	RYEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.76	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.65	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.20	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.18	+0.02

Drawdowns

BACIX vs. RYEIX - Drawdown Comparison

The maximum BACIX drawdown since its inception was -77.81%, smaller than the maximum RYEIX drawdown of -83.50%. Use the drawdown chart below to compare losses from any high point for BACIX and RYEIX.

Drawdown Indicators

	BACIX	RYEIX	Difference
Max Drawdown Largest peak-to-trough decline	-77.81%	-83.50%	+5.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.03%	-9.74%	+0.71%
Max Drawdown (3Y) Largest decline over 3 years	-18.44%	-26.94%	+8.50%
Max Drawdown (5Y) Largest decline over 5 years	-25.76%	-26.94%	+1.18%
Max Drawdown (10Y) Largest decline over 10 years	-65.65%	-74.93%	+9.28%
Current Drawdown Current decline from peak	-7.00%	-4.64%	-2.36%
Average Drawdown Average peak-to-trough decline	-32.37%	-28.62%	-3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	3.12%	-0.12%

Volatility

BACIX vs. RYEIX - Volatility Comparison

BlackRock Energy Opportunities Fund (BACIX) has a higher volatility of 6.87% compared to Rydex Energy Fund (RYEIX) at 6.42%. This indicates that BACIX's price experiences larger fluctuations and is considered to be riskier than RYEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BACIX	RYEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.87%	6.42%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	14.09%	14.95%	-0.86%
Volatility (1Y) Calculated over the trailing 1-year period	17.24%	19.55%	-2.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.53%	26.46%	-2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.20%	31.82%	-4.62%

BACIX vs. RYEIX - Expense Ratio Comparison

BACIX has a 0.91% expense ratio, which is lower than RYEIX's 1.36% expense ratio.

Dividends

BACIX vs. RYEIX - Dividend Comparison

BACIX's dividend yield for the trailing twelve months is around 2.19%, more than RYEIX's 1.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BACIX BlackRock Energy Opportunities Fund	2.19%	2.79%	2.63%	3.39%	2.49%	2.67%	3.66%	3.06%	3.43%	2.76%	2.38%	2.51%
RYEIX Rydex Energy Fund	1.88%	2.51%	3.84%	2.68%	2.55%	0.50%	2.38%	0.78%	0.81%	0.71%	0.62%	0.43%

Frequently Asked Questions

Can I hold both BACIX and RYEIX in my portfolio?

With a correlation of 0.93, BACIX and RYEIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BACIX or RYEIX?

BACIX has higher volatility (6.87%) compared to RYEIX (6.42%). In terms of maximum drawdown, BACIX dropped -77.81% vs RYEIX's -83.50%.

Which has better risk-adjusted returns?

RYEIX currently has the higher Sharpe Ratio (2.76 vs 2.53), 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.