BCAT vs. IBHF
BCAT (BlackRock Capital Allocation Term Trust) is a stock, while IBHF (iShares iBonds 2026 Term High Yield and Income ETF) is Corporate Bonds fund actively managed by iShares. Over the past 5 years, BCAT returned 7.33%/yr vs 3.94%/yr for IBHF. At a 0.41 correlation, their price movements are largely independent.
Performance
BCAT vs. IBHF - Performance Comparison
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Returns By Period
In the year-to-date period, BCAT achieves a 25.07% return, which is significantly higher than IBHF's 0.44% return.
BCAT
- 1D
- 0.06%
- 1M
- 1.19%
- 6M
- 20.89%
- YTD
- 25.07%
- 1Y
- 29.68%
- 3Y*
- 21.44%
- 5Y*
- 7.33%
- 10Y*
- —
IBHF
- 1D
- 0.04%
- 1M
- -0.01%
- 6M
- 0.43%
- YTD
- 0.44%
- 1Y
- 3.53%
- 3Y*
- 6.82%
- 5Y*
- 3.94%
- 10Y*
- —
BCAT vs. IBHF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BCAT BlackRock Capital Allocation Term Trust | 25.07% | 16.78% | 19.37% | 19.30% | -22.64% | -5.21% | 6.01% |
IBHF iShares iBonds 2026 Term High Yield and Income ETF | 0.44% | 6.60% | 8.55% | 10.40% | -6.66% | 4.43% | 2.60% |
Correlation
The correlation between BCAT and IBHF is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2020 | 0.41 |
Over the past year, the correlation between BCAT and IBHF has dropped to 0.14 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
BCAT vs. IBHF — Risk / Return Rank
BCAT
IBHF
BCAT vs. IBHF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Capital Allocation Term Trust (BCAT) and iShares iBonds 2026 Term High Yield and Income ETF (IBHF). 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.
| BCAT | IBHF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.39 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 4.70 | -0.96 |
| Martin ratioReturn relative to average drawdown | 17.37 | 13.73 | +3.63 |
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Drawdowns
BCAT vs. IBHF - Drawdown Comparison
The maximum BCAT drawdown since its inception was -36.13%, which is greater than IBHF's maximum drawdown of -11.19%. Use the drawdown chart below to compare losses from any high point for BCAT and IBHF.
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Drawdown Indicators
| BCAT | IBHF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.13% | -11.19% | -24.94% |
Max Drawdown (1Y)Largest decline over 1 year | -7.98% | -0.75% | -7.23% |
Max Drawdown (3Y)Largest decline over 3 years | -13.69% | -2.53% | -11.16% |
Max Drawdown (5Y)Largest decline over 5 years | -35.03% | -11.19% | -23.84% |
Current DrawdownCurrent decline from peak | -0.87% | -0.55% | -0.32% |
Average DrawdownAverage peak-to-trough decline | -12.57% | -1.77% | -10.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 0.26% | +1.45% |
Volatility
BCAT vs. IBHF - Volatility Comparison
BlackRock Capital Allocation Term Trust (BCAT) has a higher volatility of 3.83% compared to iShares iBonds 2026 Term High Yield and Income ETF (IBHF) at 0.28%. This indicates that BCAT's price experiences larger fluctuations and is considered to be riskier than IBHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCAT | IBHF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 0.28% | +3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 9.56% | 1.18% | +8.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.93% | 1.89% | +10.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.24% | 5.79% | +9.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 5.61% | +10.29% |
Dividends
BCAT vs. IBHF - Dividend Comparison
BCAT's dividend yield for the trailing twelve months is around 19.83%, more than IBHF's 6.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BCAT BlackRock Capital Allocation Term Trust | 19.83% | 23.45% | 17.48% | 10.08% | 9.01% | 6.42% | 0.48% |
IBHF iShares iBonds 2026 Term High Yield and Income ETF | 6.35% | 6.73% | 7.17% | 7.33% | 6.01% | 4.55% | 0.61% |
Frequently Asked Questions
BCAT and IBHF have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCAT has higher volatility (3.83%) compared to IBHF (0.28%). In terms of maximum drawdown, BCAT dropped -36.13% vs IBHF's -11.19%.
BCAT currently has the higher Sharpe Ratio (2.50 vs 1.88), 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.
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