BALI vs. IDEF

Last updated Jun 4, 2026

BALI (Blackrock Advantage Large Cap Income ETF) and IDEF (iShares Defense Industrials Active ETF) are both exchange-traded funds - BALI is a Derivative Income fund actively managed by BlackRock, while IDEF is a Aerospace & Defense fund actively managed by iShares. Both are actively managed. Over the past year, BALI returned 26.38% vs 21.86% for IDEF. A 0.60 correlation means they provide meaningful diversification when combined. BALI charges 0.35%/yr vs 0.55%/yr for IDEF.

Performance

BALI vs. IDEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Advantage Large Cap Income ETF (BALI) and iShares Defense Industrials Active ETF (IDEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BALI achieves a 11.22% return, which is significantly higher than IDEF's 4.74% return.

BALI

• 1D: -0.41%
• 1M: 4.44%
• YTD: 11.22%
• 6M: 11.78%
• 1Y: 26.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IDEF

• 1D: -2.54%
• 1M: -2.65%
• YTD: 4.74%
• 6M: 9.45%
• 1Y: 21.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BALI vs. IDEF - Yearly Performance Comparison

	2026 (YTD)	2025
BALI Blackrock Advantage Large Cap Income ETF	11.22%	15.78%
IDEF iShares Defense Industrials Active ETF	4.74%	23.05%

Correlation

The correlation between BALI and IDEF is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (All Time) Calculated using the full available price history since May 22, 2025	0.60

The correlation between BALI and IDEF has been stable across timeframes, ranging from 0.60 to 0.60 - a consistent structural relationship.

Return for Risk

BALI vs. IDEF — Risk / Return Rank

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

BALI

BALI Risk / Return Rank: 82
BALI Sharpe Ratio Rank: 81
BALI Sortino Ratio Rank: 81
BALI Omega Ratio Rank: 81
BALI Calmar Ratio Rank: 77
BALI Martin Ratio Rank: 88

IDEF

IDEF Risk / Return Rank: 28
IDEF Sharpe Ratio Rank: 28
IDEF Sortino Ratio Rank: 28
IDEF Omega Ratio Rank: 26
IDEF Calmar Ratio Rank: 30
IDEF Martin Ratio Rank: 27

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. IDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Advantage Large Cap Income ETF (BALI) and iShares Defense Industrials Active ETF (IDEF). 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	IDEF	Difference
Sharpe ratio Return per unit of total volatility	2.67	1.04	+1.63
Sortino ratio Return per unit of downside risk	3.72	1.56	+2.16
Omega ratio Gain probability vs. loss probability	1.50	1.18	+0.32
Calmar ratio Return relative to maximum drawdown	3.95	1.50	+2.45
Martin ratio Return relative to average drawdown	19.71	3.90	+15.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BALI vs. IDEF - Sharpe Ratio Comparison

The current BALI Sharpe Ratio is 2.67, which is higher than the IDEF Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of BALI and IDEF, 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	IDEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.67	1.04	+1.63
Sharpe Ratio (All Time) Calculated using the full available price history	1.72	1.33	+0.39

Drawdowns

BALI vs. IDEF - Drawdown Comparison

The maximum BALI drawdown since its inception was -16.65%, which is greater than IDEF's maximum drawdown of -14.63%. Use the drawdown chart below to compare losses from any high point for BALI and IDEF.

Drawdown Indicators

	BALI	IDEF	Difference
Max Drawdown Largest peak-to-trough decline	-16.65%	-14.63%	-2.02%
Max Drawdown (1Y) Largest decline over 1 year	-6.71%	-14.63%	+7.92%
Current Drawdown Current decline from peak	-0.41%	-12.31%	+11.90%
Average Drawdown Average peak-to-trough decline	-1.63%	-3.90%	+2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	5.61%	-4.27%

Volatility

BALI vs. IDEF - Volatility Comparison

The current volatility for Blackrock Advantage Large Cap Income ETF (BALI) is 1.95%, while iShares Defense Industrials Active ETF (IDEF) has a volatility of 7.87%. This indicates that BALI experiences smaller price fluctuations and is considered to be less risky than IDEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BALI	IDEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.95%	7.87%	-5.92%
Volatility (6M) Calculated over the trailing 6-month period	7.47%	17.98%	-10.51%
Volatility (1Y) Calculated over the trailing 1-year period	9.91%	21.15%	-11.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.93%	21.07%	-8.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.93%	21.07%	-8.14%

BALI vs. IDEF - Expense Ratio Comparison

BALI has a 0.35% expense ratio, which is lower than IDEF's 0.55% expense ratio.

Dividends

BALI vs. IDEF - Dividend Comparison

BALI's dividend yield for the trailing twelve months is around 7.66%, more than IDEF's 0.16% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.66%	8.51%	7.13%	2.13%
IDEF iShares Defense Industrials Active ETF	0.16%	0.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BALI and IDEF in my portfolio?

BALI and IDEF have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BALI or IDEF?

IDEF has higher volatility (7.87%) compared to BALI (1.95%). In terms of maximum drawdown, BALI dropped -16.65% vs IDEF's -14.63%.

Which ETF is better, BALI or IDEF?

On 1-year performance, BALI leads with 26.38% vs 21.86% for IDEF. On fees, BALI is cheaper at 0.35% per year. On volatility, BALI has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BALI or IDEF?

Over the 1-year period, BALI has performed better with a 26.38% return vs 21.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BALI or IDEF?

BALI is cheaper with a 0.35% expense ratio, compared with 0.55% for IDEF.

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

BALI has the higher dividend yield at 7.66%, compared with 0.16% for IDEF.

What is the main difference between BALI and IDEF?

BALI is categorized as Derivative Income, while IDEF is Aerospace & Defense. They also come from different issuers: BlackRock and iShares. Their fees differ too: 0.35% for BALI and 0.55% for IDEF.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.67 vs 1.04), 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.