BALPX vs. WCFRX

Last updated Jun 23, 2026

BALPX (BlackRock Event Driven Equity Fund Investor Class A) and WCFRX (Virtus Westchester Credit Event Fund) are both Event Driven funds. Over the past 5 years, BALPX returned 3.60%/yr vs 3.17%/yr for WCFRX. At a 0.38 correlation, their price movements are largely independent. BALPX charges 1.51%/yr vs 1.90%/yr for WCFRX.

Performance

BALPX vs. WCFRX - 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 Virtus Westchester Credit Event Fund (WCFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BALPX achieves a 2.03% return, which is significantly higher than WCFRX's 1.18% 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%

WCFRX

• 1D: 0.07%
• 1M: 0.61%
• YTD: 1.18%
• 6M: 1.27%
• 1Y: 3.15%
• 3Y*: 5.62%
• 5Y*: 3.17%
• 10Y*: —

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

BALPX vs. WCFRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
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%
WCFRX Virtus Westchester Credit Event Fund	1.18%	4.37%	6.83%	9.23%	-5.28%	7.08%	16.26%	12.60%	-3.23%

Correlation

The correlation between BALPX and WCFRX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jan 2, 2018	0.38

The correlation between BALPX and WCFRX shifts across timeframes, from 0.22 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BALPX vs. WCFRX — 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

WCFRX

WCFRX Risk / Return Rank: 49
WCFRX Sharpe Ratio Rank: 49
WCFRX Sortino Ratio Rank: 59
WCFRX Omega Ratio Rank: 57
WCFRX Calmar Ratio Rank: 48
WCFRX Martin Ratio Rank: 30

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. WCFRX - 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 Virtus Westchester Credit Event Fund (WCFRX). 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	WCFRX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.91	+0.15
Sortino ratio: Return per unit of downside risk	3.21	2.94	+0.27
Omega ratio: Gain probability vs. loss probability	1.40	1.38	+0.02
Calmar ratio: Return relative to maximum drawdown	3.87	2.51	+1.36
Martin ratio: Return relative to average drawdown	14.75	6.39	+8.36

BALPX vs. WCFRX - Sharpe Ratio Comparison

The current BALPX Sharpe Ratio is 2.06, which is comparable to the WCFRX Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of BALPX and WCFRX, 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. WCFRX - Drawdown Comparison

The maximum BALPX drawdown since its inception was -47.69%, which is greater than WCFRX's maximum drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for BALPX and WCFRX.

Drawdown Indicators

	BALPX	WCFRX	Difference
Max Drawdown Largest peak-to-trough decline	-47.69%	-23.56%	-24.13%
Max Drawdown (1Y) Largest decline over 1 year	-1.51%	-1.29%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-3.30%	-6.09%	+2.79%
Max Drawdown (5Y) Largest decline over 5 years	-4.74%	-9.57%	+4.83%
Max Drawdown (10Y) Largest decline over 10 years	-11.54%	—	—
Current Drawdown Current decline from peak	-0.10%	0.00%	-0.10%
Average Drawdown Average peak-to-trough decline	-5.63%	-4.26%	-1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.51%	-0.11%

Volatility

BALPX vs. WCFRX - Volatility Comparison

BlackRock Event Driven Equity Fund Investor Class A (BALPX) has a higher volatility of 0.80% compared to Virtus Westchester Credit Event Fund (WCFRX) at 0.56%. This indicates that BALPX's price experiences larger fluctuations and is considered to be riskier than WCFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BALPX	WCFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	0.56%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	2.09%	1.41%	+0.68%
Volatility (1Y) Calculated over the trailing 1-year period	2.84%	1.70%	+1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.07%	4.15%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.48%	6.56%	-1.08%

BALPX vs. WCFRX - Expense Ratio Comparison

BALPX has a 1.51% expense ratio, which is lower than WCFRX's 1.90% expense ratio.

Dividends

BALPX vs. WCFRX - Dividend Comparison

BALPX's dividend yield for the trailing twelve months is around 4.10%, less than WCFRX's 7.46% 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%
WCFRX Virtus Westchester Credit Event Fund	7.46%	5.82%	5.33%	4.15%	0.21%	13.79%	0.90%	2.99%	1.43%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BALPX and WCFRX in my portfolio?

BALPX and WCFRX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BALPX or WCFRX?

BALPX has higher volatility (0.80%) compared to WCFRX (0.56%). In terms of maximum drawdown, BALPX dropped -47.69% vs WCFRX's -23.56%.

Which has better risk-adjusted returns?

BALPX currently has the higher Sharpe Ratio (2.06 vs 1.91), 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.