BBN vs. SPY
Compare and contrast key facts about BlackRock Taxable Municipal Bond Trust (BBN) and State Street SPDR S&P 500 ETF (SPY).
BBN is an actively managed fund by BlackRock. It was launched on Aug 27, 2010. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
BBN vs. SPY - Performance Comparison
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BBN vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BBN BlackRock Taxable Municipal Bond Trust | 0.89% | 8.59% | 6.01% | 3.55% | -31.02% | 2.68% | 16.95% | 22.78% | -2.86% | 15.03% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, BBN achieves a 0.89% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, BBN has underperformed SPY with an annualized return of 3.09%, while SPY has yielded a comparatively higher 13.98% annualized return.
BBN
- 1D
- 3.06%
- 1M
- -2.75%
- YTD
- 0.89%
- 6M
- 0.95%
- 1Y
- 4.10%
- 3Y*
- 3.56%
- 5Y*
- -1.68%
- 10Y*
- 3.09%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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BBN vs. SPY - Expense Ratio Comparison
BBN has a 2.32% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
BBN vs. SPY — Risk / Return Rank
BBN
SPY
BBN vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Taxable Municipal Bond Trust (BBN) 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.
| BBN | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.39 | 0.93 | -0.54 |
Sortino ratioReturn per unit of downside risk | 0.60 | 1.45 | -0.85 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.22 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 0.63 | 1.53 | -0.89 |
Martin ratioReturn relative to average drawdown | 1.38 | 7.30 | -5.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BBN | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.39 | 0.93 | -0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | 0.69 | -0.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.20 | 0.78 | -0.58 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.56 | -0.16 |
Correlation
The correlation between BBN and SPY is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BBN vs. SPY - Dividend Comparison
BBN's dividend yield for the trailing twelve months is around 7.18%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBN BlackRock Taxable Municipal Bond Trust | 7.18% | 7.01% | 6.92% | 7.16% | 7.91% | 5.45% | 5.05% | 5.66% | 7.09% | 6.82% | 7.32% | 7.54% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
BBN vs. SPY - Drawdown Comparison
The maximum BBN drawdown since its inception was -38.37%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BBN and SPY.
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Drawdown Indicators
| BBN | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.37% | -55.19% | +16.82% |
Max Drawdown (1Y)Largest decline over 1 year | -7.55% | -12.05% | +4.50% |
Max Drawdown (5Y)Largest decline over 5 years | -38.37% | -24.50% | -13.87% |
Max Drawdown (10Y)Largest decline over 10 years | -38.37% | -33.72% | -4.65% |
Current DrawdownCurrent decline from peak | -18.37% | -6.24% | -12.13% |
Average DrawdownAverage peak-to-trough decline | -10.22% | -9.09% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 2.52% | +0.95% |
Volatility
BBN vs. SPY - Volatility Comparison
The current volatility for BlackRock Taxable Municipal Bond Trust (BBN) is 4.16%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that BBN experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBN | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 5.31% | -1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 6.96% | 9.47% | -2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.57% | 19.05% | -8.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.54% | 17.06% | -1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.14% | 17.92% | -2.78% |