BALPX vs. GDL
BALPX (BlackRock Event Driven Equity Fund Investor Class A) and GDL (The GDL Fund) are both Event Driven funds. Over the past 10 years, BALPX returned 5.79%/yr vs 3.92%/yr for GDL. Their 0.36 correlation means their historical movements had little consistent relationship. BALPX charges 1.51%/yr vs 0.03%/yr for GDL.
Performance
BALPX vs. GDL - Performance Comparison
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Returns By Period
In the year-to-date period, BALPX achieves a 2.84% return, which is significantly higher than GDL's 1.81% return. Over the past 10 years, BALPX has outperformed GDL with an annualized return of 5.79%, while GDL has yielded a comparatively lower 3.92% annualized return.
BALPX
- 1D
- -0.10%
- 1M
- -0.30%
- 6M
- 3.25%
- YTD
- 2.84%
- 1Y
- 5.07%
- 3Y*
- 6.33%
- 5Y*
- 4.12%
- 10Y*
- 5.79%
- ALL TIME*
- 5.45%
GDL
- 1D
- -0.24%
- 1M
- -0.89%
- 6M
- 0.67%
- YTD
- 1.81%
- 1Y
- 8.04%
- 3Y*
- 8.12%
- 5Y*
- 4.50%
- 10Y*
- 3.92%
- ALL TIME*
- 3.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
GDL The GDL Fund | $50.87K | $63.29K | $74.62K |
BALPX vs. GDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BALPX BlackRock Event Driven Equity Fund Investor Class A | 2.84% | 8.19% | 3.98% | 5.15% | -0.25% | 1.61% | 6.03% | 7.16% | 5.12% | 6.88% |
GDL The GDL Fund | 1.81% | 11.83% | 5.94% | 9.02% | -6.88% | 8.04% | -0.99% | 5.87% | -1.60% | 4.74% |
Correlation
The correlation between BALPX and GDL is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.21 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.22 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2007 | 0.36 |
Over the past year, the correlation between BALPX and GDL has dropped to 0.14 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.
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Return for Risk
BALPX vs. GDL — Risk / Return Rank
BALPX
GDL
BALPX vs. GDL - 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 The GDL Fund (GDL). 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 | GDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.17 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 2.07 | +1.16 |
| Martin ratioReturn relative to average drawdown | 12.33 | 6.66 | +5.67 |
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Drawdowns
BALPX vs. GDL - Drawdown Comparison
The maximum BALPX drawdown since its inception was -47.69%, which is greater than GDL's maximum drawdown of -38.74%. Use the drawdown chart below to compare losses from any high point for BALPX and GDL.
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Drawdown Indicators
| BALPX | GDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.69% | -38.74% | -8.95% |
Max Drawdown (1Y)Largest decline over 1 year | -1.51% | -3.21% | +1.70% |
Max Drawdown (3Y)Largest decline over 3 years | -3.30% | -6.00% | +2.70% |
Max Drawdown (5Y)Largest decline over 5 years | -4.30% | -9.48% | +5.18% |
Max Drawdown (10Y)Largest decline over 10 years | -11.54% | -38.74% | +27.20% |
Current DrawdownCurrent decline from peak | -0.40% | -1.30% | +0.90% |
Average DrawdownAverage peak-to-trough decline | -5.60% | -4.89% | -0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 1.00% | -0.60% |
Volatility
BALPX vs. GDL - Volatility Comparison
The current volatility for BlackRock Event Driven Equity Fund Investor Class A (BALPX) is 0.95%, while The GDL Fund (GDL) has a volatility of 1.07%. This indicates that BALPX experiences smaller price fluctuations and is considered to be less risky than GDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BALPX | GDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 1.07% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.17% | 4.24% | -2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.88% | 6.94% | -4.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.06% | 8.58% | -4.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.48% | 12.96% | -7.48% |
BALPX vs. GDL - Expense Ratio Comparison
BALPX has a 1.51% expense ratio, which is higher than GDL's 0.03% expense ratio.
Dividends
BALPX vs. GDL - Dividend Comparison
BALPX's dividend yield for the trailing twelve months is around 3.33%, less than GDL's 5.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BALPX BlackRock Event Driven Equity Fund Investor Class A | 3.33% | 4.18% | 3.88% | 1.93% | 2.55% | 2.57% | 3.01% | 3.35% | 1.84% | 5.02% | 9.00% | 77.25% |
GDL The GDL Fund | 5.73% | 5.67% | 5.99% | 5.97% | 6.12% | 5.38% | 5.28% | 4.30% | 4.36% | 5.96% | 6.50% | 6.39% |
Frequently Asked Questions
BALPX and GDL have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDL has higher volatility (1.07%) compared to BALPX (0.95%). In terms of maximum drawdown, BALPX dropped -47.69% vs GDL's -38.74%.
BALPX currently has the higher Sharpe Ratio (1.69 vs 0.96), 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.
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