BALPX vs. BILPX

Last updated Jun 23, 2026

BALPX (BlackRock Event Driven Equity Fund Investor Class A) and BILPX (BlackRock Event Driven Equity Fund) are both Event Driven funds from BlackRock. Over the past 10 years, BALPX returned 5.67%/yr vs 5.05%/yr for BILPX. With a 0.98 correlation, they move nearly in lockstep. BALPX charges 1.51%/yr vs 1.16%/yr for BILPX.

Performance

BALPX vs. BILPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Event Driven Equity Fund Investor Class A (BALPX) and BlackRock Event Driven Equity Fund (BILPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BALPX having a 2.03% return and BILPX slightly higher at 2.12%. Over the past 10 years, BALPX has outperformed BILPX with an annualized return of 5.67%, while BILPX has yielded a comparatively lower 5.05% annualized return.

BALPX

• 1D: 0.00%
• 1M: 0.20%
• YTD: 2.03%
• 6M: 2.03%
• 1Y: 5.82%
• 3Y*: 6.62%
• 5Y*: 3.60%
• 10Y*: 5.67%

BILPX

• 1D: 0.00%
• 1M: 0.19%
• YTD: 2.12%
• 6M: 2.12%
• 1Y: 6.06%
• 3Y*: 6.90%
• 5Y*: 3.87%
• 10Y*: 5.05%

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

BALPX vs. BILPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BALPX BlackRock Event Driven Equity Fund Investor Class A	2.03%	8.19%	3.98%	5.15%	-0.25%	1.61%	6.03%	7.16%	5.12%	6.88%
BILPX BlackRock Event Driven Equity Fund	2.12%	8.43%	4.37%	5.38%	0.01%	1.95%	6.30%	7.29%	5.47%	7.15%

Correlation

The correlation between BALPX and BILPX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 20, 2007	0.98

The correlation between BALPX and BILPX has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.

Return for Risk

BALPX vs. BILPX — Risk / Return Rank

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

BALPX

BALPX Risk / Return Rank: 73
BALPX Sharpe Ratio Rank: 58
BALPX Sortino Ratio Rank: 71
BALPX Omega Ratio Rank: 64
BALPX Calmar Ratio Rank: 86
BALPX Martin Ratio Rank: 85

BILPX

BILPX Risk / Return Rank: 74
BILPX Sharpe Ratio Rank: 59
BILPX Sortino Ratio Rank: 72
BILPX Omega Ratio Rank: 67
BILPX Calmar Ratio Rank: 87
BILPX Martin Ratio Rank: 86

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.

BALPX vs. BILPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Event Driven Equity Fund Investor Class A (BALPX) and BlackRock Event Driven Equity Fund (BILPX). 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.

	BALPX	BILPX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	2.09	-0.03
Sortino ratio: Return per unit of downside risk	3.21	3.22	-0.01
Omega ratio: Gain probability vs. loss probability	1.40	1.42	-0.01
Calmar ratio: Return relative to maximum drawdown	3.87	3.98	-0.11
Martin ratio: Return relative to average drawdown	14.75	15.10	-0.35

BALPX vs. BILPX - Sharpe Ratio Comparison

The current BALPX Sharpe Ratio is 2.06, which is comparable to the BILPX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of BALPX and BILPX, 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

BALPX vs. BILPX - Drawdown Comparison

The maximum BALPX drawdown since its inception was -47.69%, roughly equal to the maximum BILPX drawdown of -47.50%. Use the drawdown chart below to compare losses from any high point for BALPX and BILPX.

Drawdown Indicators

	BALPX	BILPX	Difference
Max Drawdown Largest peak-to-trough decline	-47.69%	-47.50%	-0.19%
Max Drawdown (1Y) Largest decline over 1 year	-1.51%	-1.53%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-3.30%	-3.33%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-4.74%	-4.53%	-0.21%
Max Drawdown (10Y) Largest decline over 10 years	-11.54%	-11.58%	+0.04%
Current Drawdown Current decline from peak	-0.10%	-0.09%	-0.01%
Average Drawdown Average peak-to-trough decline	-5.63%	-5.51%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.40%	0.00%

Volatility

BALPX vs. BILPX - Volatility Comparison

BlackRock Event Driven Equity Fund Investor Class A (BALPX) has a higher volatility of 0.80% compared to BlackRock Event Driven Equity Fund (BILPX) at 0.76%. This indicates that BALPX's price experiences larger fluctuations and is considered to be riskier than BILPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BALPX	BILPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	0.76%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	2.09%	2.17%	-0.08%
Volatility (1Y) Calculated over the trailing 1-year period	2.84%	2.92%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.07%	4.09%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.48%	4.64%	+0.84%

BALPX vs. BILPX - Expense Ratio Comparison

BALPX has a 1.51% expense ratio, which is higher than BILPX's 1.16% expense ratio.

Dividends

BALPX vs. BILPX - Dividend Comparison

BALPX's dividend yield for the trailing twelve months is around 4.10%, which matches BILPX's 4.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BALPX BlackRock Event Driven Equity Fund Investor Class A	4.10%	4.18%	3.88%	1.93%	2.55%	2.57%	3.01%	3.35%	1.84%	5.02%	9.00%	77.25%
BILPX BlackRock Event Driven Equity Fund	4.11%	4.19%	4.16%	1.99%	2.58%	2.66%	2.97%	3.41%	1.97%	5.12%	1.11%	74.64%

Frequently Asked Questions

Can I hold both BALPX and BILPX in my portfolio?

With a correlation of 0.94, BALPX and BILPX 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, BALPX or BILPX?

BALPX has higher volatility (0.80%) compared to BILPX (0.76%). In terms of maximum drawdown, BALPX dropped -47.69% vs BILPX's -47.50%.

Which has better risk-adjusted returns?

BILPX currently has the higher Sharpe Ratio (2.09 vs 2.06), 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.