BALI vs. FYEE

Last updated Jun 3, 2026

BALI (Blackrock Advantage Large Cap Income ETF) and FYEE (Fidelity Yield Enhanced Equity ETF) are both Derivative Income funds. Both are actively managed. Over the past year, BALI returned 27.25% vs 25.67% for FYEE. Their correlation of 0.90 suggests significant overlap in exposure. BALI charges 0.35%/yr vs 0.28%/yr for FYEE.

Performance

BALI vs. FYEE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Advantage Large Cap Income ETF (BALI) and Fidelity Yield Enhanced Equity ETF (FYEE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BALI achieves a 11.68% return, which is significantly higher than FYEE's 7.35% return.

BALI

• 1D: 0.09%
• 1M: 4.49%
• YTD: 11.68%
• 6M: 12.49%
• 1Y: 27.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FYEE

• 1D: 0.13%
• 1M: 3.53%
• YTD: 7.35%
• 6M: 9.17%
• 1Y: 25.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BALI vs. FYEE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BALI Blackrock Advantage Large Cap Income ETF	11.68%	14.51%	12.65%
FYEE Fidelity Yield Enhanced Equity ETF	7.35%	15.76%	13.20%

Correlation

The correlation between BALI and FYEE is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Apr 12, 2024	0.90

The correlation between BALI and FYEE has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

Return for Risk

BALI vs. FYEE — Risk / Return Rank

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

BALI

BALI Risk / Return Rank: 84
BALI Sharpe Ratio Rank: 84
BALI Sortino Ratio Rank: 85
BALI Omega Ratio Rank: 84
BALI Calmar Ratio Rank: 80
BALI Martin Ratio Rank: 90

FYEE

FYEE Risk / Return Rank: 80
FYEE Sharpe Ratio Rank: 81
FYEE Sortino Ratio Rank: 80
FYEE Omega Ratio Rank: 87
FYEE Calmar Ratio Rank: 69
FYEE Martin Ratio Rank: 85

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.

BALI vs. FYEE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Advantage Large Cap Income ETF (BALI) and Fidelity Yield Enhanced Equity ETF (FYEE). 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.

	BALI	FYEE	Difference
Sharpe ratio Return per unit of total volatility	2.77	2.68	+0.09
Sortino ratio Return per unit of downside risk	3.84	3.60	+0.24
Omega ratio Gain probability vs. loss probability	1.52	1.54	-0.02
Calmar ratio Return relative to maximum drawdown	4.15	3.50	+0.65
Martin ratio Return relative to average drawdown	20.75	17.93	+2.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BALI vs. FYEE - Sharpe Ratio Comparison

The current BALI Sharpe Ratio is 2.77, which is comparable to the FYEE Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of BALI and FYEE, 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

	BALI	FYEE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	2.68	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	1.74	1.26	+0.48

Drawdowns

BALI vs. FYEE - Drawdown Comparison

The maximum BALI drawdown since its inception was -16.65%, smaller than the maximum FYEE drawdown of -18.79%. Use the drawdown chart below to compare losses from any high point for BALI and FYEE.

Drawdown Indicators

	BALI	FYEE	Difference
Max Drawdown Largest peak-to-trough decline	-16.65%	-18.79%	+2.14%
Max Drawdown (1Y) Largest decline over 1 year	-6.71%	-7.39%	+0.68%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.63%	-2.25%	+0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	1.44%	-0.10%

Volatility

BALI vs. FYEE - Volatility Comparison

Blackrock Advantage Large Cap Income ETF (BALI) has a higher volatility of 1.93% compared to Fidelity Yield Enhanced Equity ETF (FYEE) at 1.36%. This indicates that BALI's price experiences larger fluctuations and is considered to be riskier than FYEE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BALI	FYEE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	1.36%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	7.47%	7.27%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	9.91%	9.63%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.94%	13.85%	-0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.94%	13.85%	-0.91%

BALI vs. FYEE - Expense Ratio Comparison

BALI has a 0.35% expense ratio, which is higher than FYEE's 0.28% expense ratio.

Dividends

BALI vs. FYEE - Dividend Comparison

BALI's dividend yield for the trailing twelve months is around 7.63%, more than FYEE's 7.54% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.63%	8.51%	7.13%	2.13%
FYEE Fidelity Yield Enhanced Equity ETF	7.54%	7.08%	5.45%	0.00%

Frequently Asked Questions

Can I hold both BALI and FYEE in my portfolio?

With a correlation of 0.90, BALI and FYEE 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, BALI or FYEE?

BALI has higher volatility (1.93%) compared to FYEE (1.36%). In terms of maximum drawdown, BALI dropped -16.65% vs FYEE's -18.79%.

Which ETF is better, BALI or FYEE?

On 1-year performance, BALI leads with 27.25% vs 25.67% for FYEE. On fees, FYEE is cheaper at 0.28% per year. On volatility, FYEE has been the lower-risk option at 1.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BALI or FYEE?

Over the 1-year period, BALI has performed better with a 27.25% return vs 25.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BALI or FYEE?

FYEE is cheaper with a 0.28% expense ratio, compared with 0.35% for BALI.

Which ETF pays a higher dividend yield, BALI or FYEE?

BALI has the higher dividend yield at 7.63%, compared with 7.54% for FYEE.

What is the main difference between BALI and FYEE?

They also come from different issuers: BlackRock and Fidelity. Their fees differ too: 0.35% for BALI and 0.28% for FYEE.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.77 vs 2.68), 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.