BDMAX vs. GONIX
Compare and contrast key facts about BlackRock Global Equity Market Neutral Fund (BDMAX) and Gotham Neutral Fund Institutional Class (GONIX).
BDMAX is an actively managed fund by BlackRock. It was launched on Dec 20, 2012. GONIX is an actively managed fund by Gotham. It was launched on Aug 30, 2013.
Performance
BDMAX vs. GONIX - Performance Comparison
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BDMAX vs. GONIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BDMAX BlackRock Global Equity Market Neutral Fund | 4.21% | 18.08% | 21.12% | 14.27% | 1.57% | 3.11% | -0.05% | -1.02% | 1.86% | 12.57% |
GONIX Gotham Neutral Fund Institutional Class | -1.13% | 7.13% | 17.70% | 10.06% | 6.59% | 19.25% | -16.47% | -0.39% | -2.38% | 0.67% |
Returns By Period
In the year-to-date period, BDMAX achieves a 4.21% return, which is significantly higher than GONIX's -1.13% return. Over the past 10 years, BDMAX has outperformed GONIX with an annualized return of 7.02%, while GONIX has yielded a comparatively lower 3.93% annualized return.
BDMAX
- 1D
- 0.68%
- 1M
- 1.57%
- YTD
- 4.21%
- 6M
- 8.60%
- 1Y
- 16.87%
- 3Y*
- 18.54%
- 5Y*
- 11.11%
- 10Y*
- 7.02%
GONIX
- 1D
- 0.27%
- 1M
- 0.68%
- YTD
- -1.13%
- 6M
- 1.09%
- 1Y
- 4.21%
- 3Y*
- 11.12%
- 5Y*
- 10.45%
- 10Y*
- 3.93%
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BDMAX vs. GONIX - Expense Ratio Comparison
BDMAX has a 1.60% expense ratio, which is higher than GONIX's 1.51% expense ratio.
Return for Risk
BDMAX vs. GONIX — Risk / Return Rank
BDMAX
GONIX
BDMAX vs. GONIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Global Equity Market Neutral Fund (BDMAX) and Gotham Neutral Fund Institutional Class (GONIX). 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.
| BDMAX | GONIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.51 | 0.64 | +1.87 |
Sortino ratioReturn per unit of downside risk | 3.68 | 0.93 | +2.75 |
Omega ratioGain probability vs. loss probability | 1.47 | 1.13 | +0.34 |
Calmar ratioReturn relative to maximum drawdown | 5.05 | 1.14 | +3.90 |
Martin ratioReturn relative to average drawdown | 14.01 | 2.71 | +11.29 |
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
| BDMAX | GONIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.51 | 0.64 | +1.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.71 | 1.63 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.22 | 0.61 | +0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.10 | 0.49 | +0.61 |
Correlation
The correlation between BDMAX and GONIX is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BDMAX vs. GONIX - Dividend Comparison
BDMAX's dividend yield for the trailing twelve months is around 8.58%, more than GONIX's 0.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDMAX BlackRock Global Equity Market Neutral Fund | 8.58% | 8.94% | 13.39% | 7.14% | 0.00% | 1.25% | 0.04% | 6.60% | 0.85% | 0.00% | 0.00% | 1.56% |
GONIX Gotham Neutral Fund Institutional Class | 0.14% | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.65% |
Drawdowns
BDMAX vs. GONIX - Drawdown Comparison
The maximum BDMAX drawdown since its inception was -12.37%, smaller than the maximum GONIX drawdown of -24.52%. Use the drawdown chart below to compare losses from any high point for BDMAX and GONIX.
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Drawdown Indicators
| BDMAX | GONIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.37% | -24.52% | +12.15% |
Max Drawdown (1Y)Largest decline over 1 year | -3.61% | -4.13% | +0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -7.72% | -6.15% | -1.57% |
Max Drawdown (10Y)Largest decline over 10 years | -9.71% | -22.46% | +12.75% |
Current DrawdownCurrent decline from peak | -0.13% | -1.26% | +1.13% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -7.43% | +4.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.74% | -0.44% |
Volatility
BDMAX vs. GONIX - Volatility Comparison
The current volatility for BlackRock Global Equity Market Neutral Fund (BDMAX) is 1.68%, while Gotham Neutral Fund Institutional Class (GONIX) has a volatility of 1.77%. This indicates that BDMAX experiences smaller price fluctuations and is considered to be less risky than GONIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDMAX | GONIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 1.77% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.74% | 4.26% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.92% | 6.71% | +0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.51% | 6.45% | +0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.77% | 6.47% | -0.70% |