BDMIX vs. PBAIX
BDMIX (BlackRock Global Equity Market Neutral Fund Class I) and PBAIX (BlackRock Tactical Opportunities Fund Institutional Class) are both mutual funds - BDMIX is a Equity Market Neutral fund managed by BlackRock, while PBAIX is a Tactical Allocation fund actively managed by BlackRock. Over the past 10 years, BDMIX returned 8.58%/yr vs 6.05%/yr for PBAIX. Their 0.13 correlation means their historical movements had little consistent relationship. BDMIX charges 1.34%/yr vs 0.77%/yr for PBAIX.
Performance
BDMIX vs. PBAIX - Performance Comparison
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Returns By Period
In the year-to-date period, BDMIX achieves a 12.92% return, which is significantly higher than PBAIX's 10.06% return. Over the past 10 years, BDMIX has outperformed PBAIX with an annualized return of 8.58%, while PBAIX has yielded a comparatively lower 6.05% annualized return.
BDMIX
- 1D
- 0.46%
- 1M
- 2.01%
- 6M
- 12.85%
- YTD
- 12.92%
- 1Y
- 26.67%
- 3Y*
- 20.87%
- 5Y*
- 13.21%
- 10Y*
- 8.58%
- ALL TIME*
- 6.94%
PBAIX
- 1D
- -0.17%
- 1M
- 1.34%
- 6M
- 9.99%
- YTD
- 10.06%
- 1Y
- 10.55%
- 3Y*
- 9.45%
- 5Y*
- 7.69%
- 10Y*
- 6.05%
- ALL TIME*
- 6.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BDMIX vs. PBAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BDMIX BlackRock Global Equity Market Neutral Fund Class I | 12.92% | 18.30% | 21.39% | 14.55% | 1.80% | 3.34% | 0.29% | -0.85% | 2.20% | 12.85% |
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 10.06% | 6.46% | 12.08% | 2.64% | 6.14% | 0.50% | 6.91% | 1.65% | 4.68% | 8.05% |
Correlation
The correlation between BDMIX and PBAIX is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.08 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.13 |
The correlation between BDMIX and PBAIX shifts across timeframes, from 0.08 (5 years) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BDMIX vs. PBAIX — Risk / Return Rank
BDMIX
PBAIX
BDMIX vs. PBAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Global Equity Market Neutral Fund Class I (BDMIX) and BlackRock Tactical Opportunities Fund Institutional Class (PBAIX). 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.
| BDMIX | PBAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.66 | ||
| Sortino ratioReturn per unit of downside risk | +2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.35 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 7.89 | 3.52 | +4.36 |
| Martin ratioReturn relative to average drawdown | 21.20 | 8.50 | +12.69 |
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Drawdowns
BDMIX vs. PBAIX - Drawdown Comparison
The maximum BDMIX drawdown since its inception was -11.89%, smaller than the maximum PBAIX drawdown of -39.26%. Use the drawdown chart below to compare losses from any high point for BDMIX and PBAIX.
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Drawdown Indicators
| BDMIX | PBAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.89% | -39.26% | +27.37% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -2.99% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -4.07% | -6.79% | +2.72% |
Max Drawdown (5Y)Largest decline over 5 years | -5.23% | -6.79% | +1.56% |
Max Drawdown (10Y)Largest decline over 10 years | -9.44% | -8.94% | -0.50% |
Current DrawdownCurrent decline from peak | -0.28% | -0.29% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -4.28% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.23% | -0.02% |
Volatility
BDMIX vs. PBAIX - Volatility Comparison
BlackRock Global Equity Market Neutral Fund Class I (BDMIX) has a higher volatility of 2.30% compared to BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) at 1.40%. This indicates that BDMIX's price experiences larger fluctuations and is considered to be riskier than PBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDMIX | PBAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 1.40% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 5.15% | 4.58% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.29% | 5.72% | +1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.64% | 6.43% | +0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.88% | 6.10% | -0.22% |
BDMIX vs. PBAIX - Expense Ratio Comparison
BDMIX has a 1.34% expense ratio, which is higher than PBAIX's 0.77% expense ratio.
Dividends
BDMIX vs. PBAIX - Dividend Comparison
BDMIX's dividend yield for the trailing twelve months is around 11.46%, while PBAIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDMIX BlackRock Global Equity Market Neutral Fund Class I | 11.46% | 8.94% | 13.26% | 7.42% | 0.00% | 1.23% | 0.30% | 6.78% | 0.94% | 0.00% | 0.00% | 1.86% |
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 0.00% | 0.00% | 0.00% | 11.84% | 3.52% | 0.00% | 2.71% | 3.39% | 10.17% | 0.86% | 1.74% | 5.15% |
Frequently Asked Questions
BDMIX and PBAIX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDMIX has higher volatility (2.30%) compared to PBAIX (1.40%). In terms of maximum drawdown, BDMIX dropped -11.89% vs PBAIX's -39.26%.
BDMIX currently has the higher Sharpe Ratio (3.51 vs 1.85), 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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