BALI vs. IVVW

Last updated Jun 24, 2026

BALI (Blackrock Advantage Large Cap Income ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. BALI is actively managed, while IVVW is passively managed. Over the past year, BALI returned 22.98% vs 17.28% for IVVW. Their correlation of 0.87 suggests significant overlap in exposure. BALI charges 0.35%/yr vs 0.25%/yr for IVVW.

Performance

BALI vs. IVVW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Advantage Large Cap Income ETF (BALI) and iShares S&P 500 BuyWrite ETF (IVVW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BALI achieves a 8.90% return, which is significantly higher than IVVW's 4.01% return.

BALI

• 1D: -1.07%
• 1M: -1.38%
• YTD: 8.90%
• 6M: 8.29%
• 1Y: 22.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVVW

• 1D: -1.24%
• 1M: 0.16%
• YTD: 4.01%
• 6M: 4.08%
• 1Y: 17.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BALI vs. IVVW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BALI Blackrock Advantage Large Cap Income ETF	8.90%	14.51%	13.60%
IVVW iShares S&P 500 BuyWrite ETF	4.01%	11.71%	12.76%

Correlation

The correlation between BALI and IVVW is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024	0.87

The correlation between BALI and IVVW has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.

BALI vs. IVVW - Sectors Allocation Comparison

Sectors	BALI	IVVW
Technology	35.4%	38.4%
Communication Services	10.1%	10.8%
Consumer Cyclical	9.7%	10.0%
Healthcare	9.5%	8.4%
Financial Services	9.2%	11.0%
Industrials	7.0%	7.9%
Consumer Defensive	5.8%	4.6%
Energy	4.0%	3.2%
Real Estate	2.1%	1.8%
Utilities	2.0%	2.1%
Basic Materials	1.4%	1.7%

Return for Risk

BALI vs. IVVW — Risk / Return Rank

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

BALI

BALI Risk / Return Rank: 74
BALI Sharpe Ratio Rank: 72
BALI Sortino Ratio Rank: 70
BALI Omega Ratio Rank: 73
BALI Calmar Ratio Rank: 71
BALI Martin Ratio Rank: 83

IVVW

IVVW Risk / Return Rank: 73
IVVW Sharpe Ratio Rank: 71
IVVW Sortino Ratio Rank: 69
IVVW Omega Ratio Rank: 83
IVVW Calmar Ratio Rank: 63
IVVW Martin Ratio Rank: 83

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. IVVW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Advantage Large Cap Income ETF (BALI) and iShares S&P 500 BuyWrite ETF (IVVW). 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.

	BALI	IVVW	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.16	+0.05
Sortino ratio: Return per unit of downside risk	3.03	2.95	+0.08
Omega ratio: Gain probability vs. loss probability	1.41	1.47	-0.06
Calmar ratio: Return relative to maximum drawdown	3.44	2.99	+0.45
Martin ratio: Return relative to average drawdown	16.45	15.95	+0.49

BALI vs. IVVW - Sharpe Ratio Comparison

The current BALI Sharpe Ratio is 2.21, which is comparable to the IVVW Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of BALI and IVVW, 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

BALI vs. IVVW - Drawdown Comparison

The maximum BALI drawdown since its inception was -16.65%, roughly equal to the maximum IVVW drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for BALI and IVVW.

Drawdown Indicators

	BALI	IVVW	Difference
Max Drawdown Largest peak-to-trough decline	-16.65%	-16.79%	+0.14%
Max Drawdown (1Y) Largest decline over 1 year	-6.71%	-5.81%	-0.90%
Current Drawdown Current decline from peak	-2.49%	-1.37%	-1.12%
Average Drawdown Average peak-to-trough decline	-1.63%	-1.73%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	1.09%	+0.31%

Volatility

BALI vs. IVVW - Volatility Comparison

Blackrock Advantage Large Cap Income ETF (BALI) has a higher volatility of 4.07% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 3.45%. This indicates that BALI's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BALI	IVVW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	3.45%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	8.30%	6.91%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	10.49%	8.05%	+2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.02%	12.69%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.02%	12.69%	+0.33%

BALI vs. IVVW - Expense Ratio Comparison

BALI has a 0.35% expense ratio, which is higher than IVVW's 0.25% expense ratio.

Dividends

BALI vs. IVVW - Dividend Comparison

BALI's dividend yield for the trailing twelve months is around 7.83%, less than IVVW's 19.86% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.83%	8.51%	7.13%	2.13%
IVVW iShares S&P 500 BuyWrite ETF	19.86%	18.55%	13.72%	0.00%

Frequently Asked Questions

Can I hold both BALI and IVVW in my portfolio?

BALI and IVVW have a correlation of 0.85, 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 IVVW?

BALI has higher volatility (4.07%) compared to IVVW (3.45%). In terms of maximum drawdown, BALI dropped -16.65% vs IVVW's -16.79%.

Which ETF is better, BALI or IVVW?

On 1-year performance, BALI leads with 22.98% vs 17.28% for IVVW. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BALI or IVVW?

Over the 1-year period, BALI has performed better with a 22.98% return vs 17.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BALI or IVVW?

IVVW is cheaper with a 0.25% expense ratio, compared with 0.35% for BALI.

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

IVVW has the higher dividend yield at 19.86%, compared with 7.83% for BALI.

What is the main difference between BALI and IVVW?

They also come from different issuers: BlackRock and iShares. Their fees differ too: 0.35% for BALI and 0.25% for IVVW.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.21 vs 2.16), 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.