BCX vs. XLE
BCX (Blackrock Resources & Commodities Strategy Trust) and XLE (State Street Energy Select Sector SPDR ETF) are both funds - BCX is a Natural Resources fund managed by BlackRock, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Over the past 10 years, BCX returned 11.86%/yr vs 9.29%/yr for XLE. A 0.68 correlation means they provide meaningful diversification when combined. BCX charges 1.10%/yr vs 0.08%/yr for XLE.
Performance
BCX vs. XLE - Performance Comparison
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Returns By Period
In the year-to-date period, BCX achieves a 8.17% return, which is significantly lower than XLE's 22.58% return. Over the past 10 years, BCX has outperformed XLE with an annualized return of 11.86%, while XLE has yielded a comparatively lower 9.29% annualized return.
BCX
- 1D
- -0.78%
- 1M
- -4.09%
- YTD
- 8.17%
- 6M
- 9.26%
- 1Y
- 31.87%
- 3Y*
- 16.91%
- 5Y*
- 11.26%
- 10Y*
- 11.86%
XLE
- 1D
- 1.26%
- 1M
- -8.47%
- YTD
- 22.58%
- 6M
- 23.97%
- 1Y
- 26.32%
- 3Y*
- 15.44%
- 5Y*
- 18.90%
- 10Y*
- 9.29%
BCX vs. XLE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BCX Blackrock Resources & Commodities Strategy Trust | 8.17% | 40.37% | 3.18% | -4.79% | 12.80% | 32.90% | 0.04% | 23.80% | -22.55% | 26.76% |
XLE State Street Energy Select Sector SPDR ETF | 22.58% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -18.22% | -0.89% |
Correlation
The correlation between BCX and XLE is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2011 | 0.68 |
Over the past year, the correlation between BCX and XLE has dropped to 0.40 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
BCX vs. XLE — Risk / Return Rank
BCX
XLE
BCX vs. XLE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackrock Resources & Commodities Strategy Trust (BCX) and State Street Energy Select Sector SPDR ETF (XLE). 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 | XLE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.21 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 1.88 | +0.10 |
| Martin ratioReturn relative to average drawdown | 5.32 | 5.70 | -0.38 |
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Drawdowns
BCX vs. XLE - Drawdown Comparison
The maximum BCX drawdown since its inception was -62.36%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for BCX and XLE.
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Drawdown Indicators
| BCX | XLE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.36% | -71.26% | +8.90% |
Max Drawdown (1Y)Largest decline over 1 year | -16.17% | -14.05% | -2.12% |
Max Drawdown (3Y)Largest decline over 3 years | -16.17% | -20.14% | +3.97% |
Max Drawdown (5Y)Largest decline over 5 years | -29.22% | -26.04% | -3.18% |
Max Drawdown (10Y)Largest decline over 10 years | -59.23% | -66.81% | +7.58% |
Current DrawdownCurrent decline from peak | -13.90% | -12.96% | -0.94% |
Average DrawdownAverage peak-to-trough decline | -19.61% | -17.97% | -1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.01% | 4.66% | +1.35% |
Volatility
BCX vs. XLE - Volatility Comparison
The current volatility for Blackrock Resources & Commodities Strategy Trust (BCX) is 5.32%, while State Street Energy Select Sector SPDR ETF (XLE) has a volatility of 7.06%. This indicates that BCX experiences smaller price fluctuations and is considered to be less risky than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCX | XLE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 7.06% | -1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 16.30% | 16.89% | -0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.83% | 20.96% | -2.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.36% | 25.98% | -4.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.54% | 29.62% | -6.08% |
BCX vs. XLE - Expense Ratio Comparison
BCX has a 1.10% expense ratio, which is higher than XLE's 0.08% expense ratio.
Dividends
BCX vs. XLE - Dividend Comparison
BCX's dividend yield for the trailing twelve months is around 7.29%, more than XLE's 3.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCX Blackrock Resources & Commodities Strategy Trust | 7.29% | 7.62% | 7.49% | 7.00% | 5.52% | 5.13% | 7.10% | 7.67% | 8.77% | 6.19% | 6.98% | 11.38% |
XLE State Street Energy Select Sector SPDR ETF | 3.47% | 3.28% | 3.36% | 3.55% | 3.68% | 4.21% | 5.62% | 6.72% | 3.54% | 3.03% | 2.26% | 3.39% |
Frequently Asked Questions
BCX and XLE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLE has higher volatility (7.06%) compared to BCX (5.32%). In terms of maximum drawdown, BCX dropped -62.36% vs XLE's -71.26%.
BCX currently has the higher Sharpe Ratio (1.70 vs 1.26), 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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