BCX vs. MADVX

Last updated Aug 6, 2026

BCX (Blackrock Resources & Commodities Strategy Trust) and MADVX (BlackRock Equity Dividend Fund Institutional Shares) are both mutual funds - BCX is a Natural Resources fund managed by BlackRock, while MADVX is a Large Cap Value Equities fund actively managed by BlackRock. Over the past 10 years, BCX returned 11.82%/yr vs 12.00%/yr for MADVX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. BCX charges 1.10%/yr vs 0.71%/yr for MADVX.

Performance

BCX vs. MADVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Resources & Commodities Strategy Trust (BCX) and BlackRock Equity Dividend Fund Institutional Shares (MADVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCX achieves a 13.65% return, which is significantly lower than MADVX's 18.75% return. Both investments have delivered pretty close results over the past 10 years, with BCX having a 11.82% annualized return and MADVX not far ahead at 12.00%.

BCX

• 1D: 0.84%
• 1M: 5.99%
• 6M: -2.16%
• YTD: 13.65%
• 1Y: 34.83%
• 3Y*: 16.07%
• 5Y*: 13.16%
• 10Y*: 11.82%
• ALL TIME*: 4.50%

MADVX

• 1D: 0.66%
• 1M: 3.82%
• 6M: 12.95%
• YTD: 18.75%
• 1Y: 30.56%
• 3Y*: 17.43%
• 5Y*: 11.70%
• 10Y*: 12.00%
• ALL TIME*: 10.21%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BCX Blackrock Resources & Commodities Strategy Trust	$1.95M	$1.88M	$2.33M
MADVX BlackRock Equity Dividend Fund Institutional Shares	$0.00	$0.00	$0.00

BCX vs. MADVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCX Blackrock Resources & Commodities Strategy Trust	13.65%	40.37%	3.18%	-4.79%	12.80%	32.90%	0.04%	23.80%	-22.55%	26.76%
MADVX BlackRock Equity Dividend Fund Institutional Shares	18.75%	21.70%	6.98%	12.71%	-3.97%	20.13%	4.03%	27.58%	-7.15%	16.31%

Correlation

The correlation between BCX and MADVX is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.34
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (5Y) Shows whether the relationship held over a longer period.	0.55
Correlation (10Y) Provides a long-term view across more market conditions.	0.59
Correlation (All Time) Calculated using the full available price history since Mar 29, 2011	0.60

Over the past year, the correlation between BCX and MADVX has dropped to 0.34 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

Return for Risk

BCX vs. MADVX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BCX

BCX Risk / Return Rank: 45
BCX Sharpe Ratio Rank: 60
BCX Sortino Ratio Rank: 48
BCX Omega Ratio Rank: 53
BCX Calmar Ratio Rank: 38
BCX Martin Ratio Rank: 28

MADVX

MADVX Risk / Return Rank: 91
MADVX Sharpe Ratio Rank: 94
MADVX Sortino Ratio Rank: 92
MADVX Omega Ratio Rank: 90
MADVX Calmar Ratio Rank: 86
MADVX Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BCX vs. MADVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Resources & Commodities Strategy Trust (BCX) and BlackRock Equity Dividend Fund Institutional Shares (MADVX). 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.

	BCX	MADVX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	2.62	-0.87
Sortino ratio: Return per unit of downside risk	2.28	3.61	-1.34
Omega ratio: Gain probability vs. loss probability	1.31	1.47	-0.16
Calmar ratio: Return relative to maximum drawdown	1.86	3.42	-1.57
Martin ratio: Return relative to average drawdown	4.56	14.66	-10.09

BCX vs. MADVX - Sharpe Ratio Comparison

The current BCX Sharpe Ratio is 1.75, which is lower than the MADVX Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of BCX and MADVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BCX vs. MADVX - Drawdown Comparison

The maximum BCX drawdown since its inception was -62.36%, which is greater than MADVX's maximum drawdown of -50.00%. Use the drawdown chart below to compare losses from any high point for BCX and MADVX.

Drawdown Indicators

	BCX	MADVX	Difference
Max Drawdown Largest peak-to-trough decline	-62.36%	-50.00%	-12.36%
Max Drawdown (1Y) Largest decline over 1 year	-18.85%	-9.01%	-9.84%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	-15.22%	-3.63%
Max Drawdown (5Y) Largest decline over 5 years	-29.22%	-18.05%	-11.17%
Max Drawdown (10Y) Largest decline over 10 years	-59.23%	-35.94%	-23.29%
Current Drawdown Current decline from peak	-9.53%	0.00%	-9.53%
Average Drawdown Average peak-to-trough decline	-19.56%	-5.27%	-14.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.65%	2.10%	+5.55%

Volatility

BCX vs. MADVX - Volatility Comparison

Blackrock Resources & Commodities Strategy Trust (BCX) has a higher volatility of 4.43% compared to BlackRock Equity Dividend Fund Institutional Shares (MADVX) at 3.48%. This indicates that BCX's price experiences larger fluctuations and is considered to be riskier than MADVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCX	MADVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	3.48%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	15.91%	9.52%	+6.39%
Volatility (1Y) Calculated over the trailing 1-year period	20.04%	11.80%	+8.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.43%	14.21%	+7.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.59%	16.30%	+7.29%

BCX vs. MADVX - Expense Ratio Comparison

BCX has a 1.10% expense ratio, which is higher than MADVX's 0.71% expense ratio.

Dividends

BCX vs. MADVX - Dividend Comparison

BCX's dividend yield for the trailing twelve months is around 6.98%, less than MADVX's 13.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCX Blackrock Resources & Commodities Strategy Trust	6.98%	7.62%	7.49%	7.00%	5.52%	5.13%	7.10%	7.67%	8.77%	6.19%	6.98%	11.38%
MADVX BlackRock Equity Dividend Fund Institutional Shares	13.72%	10.23%	8.58%	7.08%	13.50%	12.15%	6.35%	13.15%	14.04%	14.38%	7.98%	18.44%

Frequently Asked Questions

Can I hold both BCX and MADVX in my portfolio?

BCX and MADVX have a correlation of 0.34, 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 MADVX?

BCX has higher volatility (4.43%) compared to MADVX (3.48%). In terms of maximum drawdown, BCX dropped -62.36% vs MADVX's -50.00%.

Which has better risk-adjusted returns?

MADVX currently has the higher Sharpe Ratio (2.62 vs 1.75), 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.