BDHIX vs. SPY
Compare and contrast key facts about BlackRock Dynamic High Income Portfolio (BDHIX) and State Street SPDR S&P 500 ETF (SPY).
BDHIX is managed by BlackRock. It was launched on Nov 2, 2014. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
BDHIX vs. SPY - Performance Comparison
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BDHIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BDHIX BlackRock Dynamic High Income Portfolio | -3.42% | 12.27% | 10.76% | 13.87% | -18.20% | 10.44% | 4.52% | 20.05% | -6.91% | 14.53% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, BDHIX achieves a -3.42% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, BDHIX has underperformed SPY with an annualized return of 6.12%, while SPY has yielded a comparatively higher 13.98% annualized return.
BDHIX
- 1D
- 0.00%
- 1M
- -6.15%
- YTD
- -3.42%
- 6M
- -1.49%
- 1Y
- 8.04%
- 3Y*
- 9.55%
- 5Y*
- 3.79%
- 10Y*
- 6.12%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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BDHIX vs. SPY - Expense Ratio Comparison
BDHIX has a 0.65% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
BDHIX vs. SPY — Risk / Return Rank
BDHIX
SPY
BDHIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Dynamic High Income Portfolio (BDHIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| BDHIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.01 | 0.93 | +0.09 |
Sortino ratioReturn per unit of downside risk | 1.43 | 1.45 | -0.03 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.22 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.15 | 1.53 | -0.37 |
Martin ratioReturn relative to average drawdown | 4.99 | 7.30 | -2.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BDHIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.01 | 0.93 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.69 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.78 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.56 | +0.01 |
Correlation
The correlation between BDHIX and SPY is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BDHIX vs. SPY - Dividend Comparison
BDHIX's dividend yield for the trailing twelve months is around 7.40%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDHIX BlackRock Dynamic High Income Portfolio | 7.40% | 7.54% | 7.62% | 5.96% | 5.17% | 6.58% | 5.20% | 5.68% | 7.40% | 6.14% | 6.33% | 7.19% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
BDHIX vs. SPY - Drawdown Comparison
The maximum BDHIX drawdown since its inception was -29.13%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BDHIX and SPY.
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Drawdown Indicators
| BDHIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.13% | -55.19% | +26.06% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -12.05% | +4.91% |
Max Drawdown (5Y)Largest decline over 5 years | -23.55% | -24.50% | +0.95% |
Max Drawdown (10Y)Largest decline over 10 years | -29.13% | -33.72% | +4.59% |
Current DrawdownCurrent decline from peak | -6.15% | -6.24% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -4.84% | -9.09% | +4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 2.52% | -0.87% |
Volatility
BDHIX vs. SPY - Volatility Comparison
The current volatility for BlackRock Dynamic High Income Portfolio (BDHIX) is 2.97%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that BDHIX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDHIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 5.31% | -2.34% |
Volatility (6M)Calculated over the trailing 6-month period | 5.06% | 9.47% | -4.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.95% | 19.05% | -10.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.82% | 17.06% | -8.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.11% | 17.92% | -8.81% |