BCX vs. BLW

Last updated Jun 4, 2026

BCX (Blackrock Resources & Commodities Strategy Trust) is Commodity Producers Equities fund managed by BlackRock, while BLW (BlackRock Limited Duration Income Trust) is a stock. Over the past 10 years, BCX returned 12.37%/yr vs 6.43%/yr for BLW. At a 0.32 correlation, their price movements are largely independent.

Performance

BCX vs. BLW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Resources & Commodities Strategy Trust (BCX) and BlackRock Limited Duration Income Trust (BLW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCX achieves a 12.68% return, which is significantly higher than BLW's -5.79% return. Over the past 10 years, BCX has outperformed BLW with an annualized return of 12.37%, while BLW has yielded a comparatively lower 6.43% annualized return.

BCX

• 1D: -1.31%
• 1M: -2.51%
• YTD: 12.68%
• 6M: 17.92%
• 1Y: 37.66%
• 3Y*: 18.43%
• 5Y*: 10.93%
• 10Y*: 12.37%

BLW

• 1D: -0.72%
• 1M: -1.94%
• YTD: -5.79%
• 6M: -5.77%
• 1Y: -2.44%
• 3Y*: 8.66%
• 5Y*: 2.77%
• 10Y*: 6.43%

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

BCX vs. BLW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCX Blackrock Resources & Commodities Strategy Trust	12.68%	40.37%	3.18%	-4.79%	12.80%	32.90%	0.04%	23.80%	-22.55%	26.76%
BLW BlackRock Limited Duration Income Trust	-5.79%	7.17%	11.06%	17.29%	-15.92%	13.52%	5.36%	31.08%	-10.22%	11.53%

Correlation

The correlation between BCX and BLW is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Mar 30, 2011	0.32

Return for Risk

BCX vs. BLW — Risk / Return Rank

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

BCX

BCX Risk / Return Rank: 40
BCX Sharpe Ratio Rank: 49
BCX Sortino Ratio Rank: 40
BCX Omega Ratio Rank: 45
BCX Calmar Ratio Rank: 38
BCX Martin Ratio Rank: 30

BLW

BLW Risk / Return Rank: 26
BLW Sharpe Ratio Rank: 27
BLW Sortino Ratio Rank: 22
BLW Omega Ratio Rank: 21
BLW Calmar Ratio Rank: 33
BLW Martin Ratio Rank: 27

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.

BCX vs. BLW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Resources & Commodities Strategy Trust (BCX) and BlackRock Limited Duration Income Trust (BLW). 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.

	BCX	BLW	Difference
Sharpe ratio: Return per unit of total volatility	2.06	-0.31	+2.37
Sortino ratio: Return per unit of downside risk	2.66	-0.38	+3.03
Omega ratio: Gain probability vs. loss probability	1.36	0.95	+0.41
Calmar ratio: Return relative to maximum drawdown	2.34	-0.22	+2.56
Martin ratio: Return relative to average drawdown	7.08	-0.71	+7.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCX vs. BLW - Sharpe Ratio Comparison

The current BCX Sharpe Ratio is 2.06, which is higher than the BLW Sharpe Ratio of -0.31. The chart below compares the historical Sharpe Ratios of BCX and BLW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BCX	BLW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	-0.31	+2.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.23	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.44	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.40	-0.20

Drawdowns

BCX vs. BLW - Drawdown Comparison

The maximum BCX drawdown since its inception was -62.36%, which is greater than BLW's maximum drawdown of -44.13%. Use the drawdown chart below to compare losses from any high point for BCX and BLW.

Drawdown Indicators

	BCX	BLW	Difference
Max Drawdown Largest peak-to-trough decline	-62.36%	-44.13%	-18.23%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-11.19%	-4.98%
Max Drawdown (3Y) Largest decline over 3 years	-16.17%	-11.19%	-4.98%
Max Drawdown (5Y) Largest decline over 5 years	-29.22%	-26.30%	-2.92%
Max Drawdown (10Y) Largest decline over 10 years	-59.23%	-41.85%	-17.38%
Current Drawdown Current decline from peak	-10.30%	-7.80%	-2.50%
Average Drawdown Average peak-to-trough decline	-19.64%	-6.04%	-13.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.34%	3.43%	+1.91%

Volatility

BCX vs. BLW - Volatility Comparison

Blackrock Resources & Commodities Strategy Trust (BCX) has a higher volatility of 5.76% compared to BlackRock Limited Duration Income Trust (BLW) at 2.34%. This indicates that BCX's price experiences larger fluctuations and is considered to be riskier than BLW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCX	BLW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.76%	2.34%	+3.42%
Volatility (6M) Calculated over the trailing 6-month period	16.12%	6.92%	+9.20%
Volatility (1Y) Calculated over the trailing 1-year period	18.44%	7.93%	+10.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.43%	12.32%	+9.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.52%	14.59%	+8.93%

Dividends

BCX vs. BLW - Dividend Comparison

BCX's dividend yield for the trailing twelve months is around 6.95%, less than BLW's 10.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCX Blackrock Resources & Commodities Strategy Trust	6.95%	7.62%	7.49%	7.00%	5.52%	5.13%	7.10%	7.67%	8.77%	6.19%	6.98%	11.38%
BLW BlackRock Limited Duration Income Trust	10.95%	9.89%	9.39%	8.63%	8.26%	6.99%	7.39%	6.27%	7.14%	6.24%	9.68%	8.26%

Frequently Asked Questions

Can I hold both BCX and BLW in my portfolio?

BCX and BLW have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCX or BLW?

BCX has higher volatility (5.76%) compared to BLW (2.34%). In terms of maximum drawdown, BCX dropped -62.36% vs BLW's -44.13%.

Which has better risk-adjusted returns?

BCX currently has the higher Sharpe Ratio (2.06 vs -0.31), 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.