BCX vs. VTMFX

Last updated Aug 1, 2026

BCX (Blackrock Resources & Commodities Strategy Trust) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both mutual funds - BCX is a Natural Resources fund managed by BlackRock, while VTMFX is a Diversified Portfolio fund tracking the Composite benchmark: Russell 1000 Index and Bloomberg 1-15 Year Municipal Bond Index. Over the past 10 years, BCX returned 11.96%/yr vs 8.27%/yr for VTMFX. Their 0.54 correlation means they have sometimes moved together and sometimes differently. BCX charges 1.10%/yr vs 0.05%/yr for VTMFX.

Performance

BCX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Resources & Commodities Strategy Trust (BCX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCX achieves a 14.22% return, which is significantly higher than VTMFX's 4.40% return. Over the past 10 years, BCX has outperformed VTMFX with an annualized return of 11.96%, while VTMFX has yielded a comparatively lower 8.27% annualized return.

BCX

• 1D: 1.86%
• 1M: 5.78%
• 6M: -0.02%
• YTD: 14.22%
• 1Y: 37.51%
• 3Y*: 15.78%
• 5Y*: 12.91%
• 10Y*: 11.96%
• ALL TIME*: 4.54%

VTMFX

• 1D: 0.71%
• 1M: -1.15%
• 6M: 3.25%
• YTD: 4.40%
• 1Y: 11.79%
• 3Y*: 10.68%
• 5Y*: 6.40%
• 10Y*: 8.27%
• ALL TIME*: 7.75%

*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	$2.17M	$1.87M	$2.36M
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	$0.00	$0.00	$0.00

BCX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCX Blackrock Resources & Commodities Strategy Trust	14.22%	40.37%	3.18%	-4.79%	12.80%	32.90%	0.04%	23.80%	-22.55%	26.76%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	4.40%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-1.40%	12.61%

Correlation

The correlation between BCX and VTMFX is 0.30, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.30
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (5Y) Shows whether the relationship held over a longer period.	0.43
Correlation (10Y) Provides a long-term view across more market conditions.	0.49
Correlation (All Time) Calculated using the full available price history since Mar 29, 2011	0.54

Over the past year, the correlation between BCX and VTMFX has dropped to 0.30 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Return for Risk

BCX vs. VTMFX — Risk / Return Rank

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

BCX

BCX Risk / Return Rank: 62
BCX Sharpe Ratio Rank: 78
BCX Sortino Ratio Rank: 70
BCX Omega Ratio Rank: 74
BCX Calmar Ratio Rank: 55
BCX Martin Ratio Rank: 33

VTMFX

VTMFX Risk / Return Rank: 72
VTMFX Sharpe Ratio Rank: 74
VTMFX Sortino Ratio Rank: 71
VTMFX Omega Ratio Rank: 72
VTMFX Calmar Ratio Rank: 64
VTMFX Martin Ratio Rank: 78

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. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Resources & Commodities Strategy Trust (BCX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.66	+0.15
Sortino ratio: Return per unit of downside risk	2.34	2.34	0.00
Omega ratio: Gain probability vs. loss probability	1.32	1.30	+0.01
Calmar ratio: Return relative to maximum drawdown	1.92	2.06	-0.14
Martin ratio: Return relative to average drawdown	4.76	9.19	-4.44

BCX vs. VTMFX - Sharpe Ratio Comparison

The current BCX Sharpe Ratio is 1.81, which is comparable to the VTMFX Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of BCX and VTMFX, 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. VTMFX - Drawdown Comparison

The maximum BCX drawdown since its inception was -62.36%, which is greater than VTMFX's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for BCX and VTMFX.

Drawdown Indicators

	BCX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-62.36%	-28.49%	-33.87%
Max Drawdown (1Y) Largest decline over 1 year	-18.85%	-5.38%	-13.47%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	-10.61%	-8.24%
Max Drawdown (5Y) Largest decline over 5 years	-29.22%	-17.40%	-11.82%
Max Drawdown (10Y) Largest decline over 10 years	-59.23%	-21.87%	-37.36%
Current Drawdown Current decline from peak	-9.08%	-1.54%	-7.54%
Average Drawdown Average peak-to-trough decline	-19.57%	-3.54%	-16.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.57%	1.20%	+6.37%

Volatility

BCX vs. VTMFX - Volatility Comparison

Blackrock Resources & Commodities Strategy Trust (BCX) has a higher volatility of 4.74% compared to Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) at 1.85%. This indicates that BCX's price experiences larger fluctuations and is considered to be riskier than VTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	1.85%	+2.89%
Volatility (6M) Calculated over the trailing 6-month period	17.00%	5.35%	+11.65%
Volatility (1Y) Calculated over the trailing 1-year period	19.99%	6.67%	+13.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.41%	8.59%	+12.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.58%	9.14%	+14.44%

BCX vs. VTMFX - Expense Ratio Comparison

BCX has a 1.10% expense ratio, which is higher than VTMFX's 0.05% expense ratio.

Dividends

BCX vs. VTMFX - Dividend Comparison

BCX's dividend yield for the trailing twelve months is around 6.94%, more than VTMFX's 2.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCX Blackrock Resources & Commodities Strategy Trust	6.94%	7.62%	7.49%	7.00%	5.52%	5.13%	7.10%	7.67%	8.77%	6.19%	6.98%	11.38%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.22%	2.14%	2.08%	1.94%	1.85%	1.38%	1.72%	2.05%	2.22%	2.00%	2.13%	2.06%

Frequently Asked Questions

Can I hold both BCX and VTMFX in my portfolio?

BCX and VTMFX have a correlation of 0.30, 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 VTMFX?

BCX has higher volatility (4.74%) compared to VTMFX (1.85%). In terms of maximum drawdown, BCX dropped -62.36% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

BCX currently has the higher Sharpe Ratio (1.81 vs 1.66), 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.