BALQ vs. SPY

Last updated Jun 4, 2026

BALQ (iShares Nasdaq Premium Income Active ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - BALQ is a Nasdaq-100 fund actively managed by iShares, while SPY is a S&P 500 fund tracking the S&P 500 Index. BALQ is actively managed, while SPY is passively managed. With a 0.95 correlation, they move nearly in lockstep. BALQ charges 0.35%/yr vs 0.09%/yr for SPY.

Performance

BALQ vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq Premium Income Active ETF (BALQ) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BALQ achieves a 22.89% return, which is significantly higher than SPY's 10.91% return.

BALQ

• 1D: -0.21%
• 1M: 11.15%
• YTD: 22.89%
• 6M: 22.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

BALQ vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025
BALQ iShares Nasdaq Premium Income Active ETF	22.89%	-0.49%
SPY State Street SPDR S&P 500 ETF	10.91%	0.01%

Correlation

The correlation between BALQ and SPY is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 4, 2025	0.95

Return for Risk

BALQ vs. SPY — Risk / Return Rank

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

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq Premium Income Active ETF (BALQ) and State Street SPDR S&P 500 ETF (SPY). 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	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.38	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.81	0.59	+2.23

Drawdowns

BALQ vs. SPY - Drawdown Comparison

The maximum BALQ drawdown since its inception was -11.79%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BALQ and SPY.

Drawdown Indicators

	BALQ	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-11.79%	-55.19%	+43.40%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-0.21%	-0.70%	+0.49%
Average Drawdown Average peak-to-trough decline	-2.37%	-9.05%	+6.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.91%	—

Volatility

Volatility by Period

	BALQ	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.03%	11.83%	+6.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.03%	17.05%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	17.94%	+0.09%

BALQ vs. SPY - Expense Ratio Comparison

BALQ has a 0.35% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

BALQ vs. SPY - Dividend Comparison

BALQ's dividend yield for the trailing twelve months is around 4.59%, more than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BALQ iShares Nasdaq Premium Income Active ETF	4.59%	0.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both BALQ and SPY in my portfolio?

With a correlation of 0.95, BALQ and SPY 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 ETF is better, BALQ or SPY?

On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BALQ or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.35% for BALQ.

Which ETF pays a higher dividend yield, BALQ or SPY?

BALQ has the higher dividend yield at 4.59%, compared with 0.98% for SPY.

What is the main difference between BALQ and SPY?

BALQ is categorized as Nasdaq-100, while SPY is S&P 500. They also come from different issuers: iShares and State Street. Their fees differ too: 0.35% for BALQ and 0.09% for SPY.