BALQ vs. SPY

Last updated Jul 3, 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. Their correlation of 0.94 suggests significant overlap in exposure. 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 18.34% return, which is significantly higher than SPY's 9.80% return.

BALQ

• 1D: -1.81%
• 1M: -3.90%
• 6M: 18.34%
• YTD: 18.34%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.13%
• 1M: -1.69%
• 6M: 9.80%
• YTD: 9.80%
• 1Y: 21.37%
• 3Y*: 20.32%
• 5Y*: 12.94%
• 10Y*: 15.34%

*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	18.34%	0.04%
SPY State Street SPDR S&P 500 ETF	9.80%	0.35%

Correlation

The correlation between BALQ and SPY 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 (All Time) Calculated using the full available price history since Dec 3, 2025	0.94

Return for Risk

BALQ vs. SPY — Risk / Return Rank

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

BALQ

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

SPY

SPY Risk / Return Rank: 61
SPY Sharpe Ratio Rank: 61
SPY Sortino Ratio Rank: 59
SPY Omega Ratio Rank: 60
SPY Calmar Ratio Rank: 58
SPY Martin Ratio Rank: 69

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.

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.

	BALQ	SPY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.71	—
Sortino ratio: Return per unit of downside risk	—	2.36	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	2.42	—
Martin ratio: Return relative to average drawdown	—	10.55	—

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	-3.90%	-1.69%	-2.21%
Average Drawdown Average peak-to-trough decline	-2.42%	-9.03%	+6.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.03%	—

Volatility

Volatility by Period

	BALQ	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.84%	12.55%	+8.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.84%	17.17%	+3.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.84%	17.93%	+2.91%

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 6.08%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BALQ iShares Nasdaq Premium Income Active ETF	6.08%	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	1.01%	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 0.94, 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 6.08%, compared with 1.01% 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.