BALQ vs. KHPI

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Nasdaq Premium Income Active ETF (BALQ) and Kensington Hedged Premium Income ETF (KHPI).

BALQ and KHPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BALQ is an actively managed fund by iShares. It was launched on Dec 2, 2025. KHPI is an actively managed fund by Kensington Asset Management. It was launched on Sep 4, 2024.

Performance

BALQ vs. KHPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq Premium Income Active ETF (BALQ) and Kensington Hedged Premium Income ETF (KHPI). The values are adjusted to include any dividend payments, if applicable.

BALQ vs. KHPI - Yearly Performance Comparison

	2026 (YTD)	2025
BALQ iShares Nasdaq Premium Income Active ETF	-4.98%	-0.49%
KHPI Kensington Hedged Premium Income ETF	-3.49%	-0.68%

Returns By Period

In the year-to-date period, BALQ achieves a -4.98% return, which is significantly lower than KHPI's -3.49% return.

BALQ

• 1D: 3.62%
• 1M: -4.81%
• YTD: -4.98%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KHPI

• 1D: 1.47%
• 1M: -4.68%
• YTD: -3.49%
• 6M: -0.79%
• 1Y: 10.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BALQ vs. KHPI - Expense Ratio Comparison

BALQ has a 0.35% expense ratio, which is lower than KHPI's 0.96% expense ratio.

KHPI

Kensington Hedged Premium Income ETF

BALQ

iShares Nasdaq Premium Income Active ETF

Return for Risk

BALQ vs. KHPI — Risk / Return Rank

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

KHPI

KHPI Risk / Return Rank: 61
KHPI Sharpe Ratio Rank: 54
KHPI Sortino Ratio Rank: 55
KHPI Omega Ratio Rank: 60
KHPI Calmar Ratio Rank: 64
KHPI Martin Ratio Rank: 71

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.

BALQ vs. KHPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq Premium Income Active ETF (BALQ) and Kensington Hedged Premium Income ETF (KHPI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BALQ	KHPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.89	0.76	-1.65

Correlation

The correlation between BALQ and KHPI is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BALQ vs. KHPI - Dividend Comparison

BALQ's dividend yield for the trailing twelve months is around 2.71%, less than KHPI's 9.44% yield.

	TTM	2025	2024
BALQ iShares Nasdaq Premium Income Active ETF	2.71%	0.95%	0.00%
KHPI Kensington Hedged Premium Income ETF	9.44%	8.90%	3.01%

Drawdowns

BALQ vs. KHPI - Drawdown Comparison

The maximum BALQ drawdown since its inception was -11.79%, which is greater than KHPI's maximum drawdown of -10.58%. Use the drawdown chart below to compare losses from any high point for BALQ and KHPI.

Drawdown Indicators

	BALQ	KHPI	Difference
Max Drawdown Largest peak-to-trough decline	-11.79%	-10.58%	-1.21%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.55%	—
Current Drawdown Current decline from peak	-8.60%	-5.18%	-3.42%
Average Drawdown Average peak-to-trough decline	-3.03%	-1.27%	-1.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.46%	—

Volatility

Volatility by Period

	BALQ	KHPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.38%	10.96%	+7.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.38%	9.79%	+8.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.38%	9.79%	+8.59%