BGCKX vs. BNDX
BGCKX (BlackRock Global Equity Market Neutral Fund Institutional Shares) and BNDX (Vanguard Total International Bond ETF) are both funds - BGCKX is a Equity Market Neutral fund actively managed by BlackRock, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (Hedged). BGCKX is actively managed, while BNDX is passively managed. Over the past 10 years, BGCKX returned 8.55%/yr vs 1.51%/yr for BNDX. Their 0.02 correlation means their historical movements had little consistent relationship. BGCKX charges 1.29%/yr vs 0.07%/yr for BNDX.
Performance
BGCKX vs. BNDX - Performance Comparison
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Returns By Period
In the year-to-date period, BGCKX achieves a 12.08% return, which is significantly higher than BNDX's 0.22% return. Over the past 10 years, BGCKX has outperformed BNDX with an annualized return of 8.55%, while BNDX has yielded a comparatively lower 1.51% annualized return.
BGCKX
- 1D
- 1.13%
- 1M
- 1.60%
- 6M
- 10.94%
- YTD
- 12.08%
- 1Y
- 23.63%
- 3Y*
- 20.58%
- 5Y*
- 13.20%
- 10Y*
- 8.55%
- ALL TIME*
- 7.85%
BNDX
- 1D
- -0.23%
- 1M
- -0.97%
- 6M
- -0.29%
- YTD
- 0.22%
- 1Y
- 0.83%
- 3Y*
- 4.00%
- 5Y*
- -0.07%
- 10Y*
- 1.51%
- ALL TIME*
- 2.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $159.93M | $187.29M | $236.21M |
BGCKX vs. BNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGCKX BlackRock Global Equity Market Neutral Fund Institutional Shares | 12.08% | 18.38% | 21.55% | 14.60% | 1.80% | 3.42% | 0.33% | -0.82% | 2.22% | 12.83% |
BNDX Vanguard Total International Bond ETF | 0.22% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
Correlation
The correlation between BGCKX and BNDX is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2016 | 0.02 |
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Return for Risk
BGCKX vs. BNDX — Risk / Return Rank
BGCKX
BNDX
BGCKX vs. BNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Global Equity Market Neutral Fund Institutional Shares (BGCKX) and Vanguard Total International Bond ETF (BNDX). 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.
| BGCKX | BNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.93 | ||
| Sortino ratioReturn per unit of downside risk | +4.22 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.06 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 7.46 | 0.41 | +7.05 |
| Martin ratioReturn relative to average drawdown | 19.74 | 1.04 | +18.70 |
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Drawdowns
BGCKX vs. BNDX - Drawdown Comparison
The maximum BGCKX drawdown since its inception was -9.47%, smaller than the maximum BNDX drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for BGCKX and BNDX.
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Drawdown Indicators
| BGCKX | BNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.47% | -16.23% | +6.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.23% | -2.93% | -0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -4.13% | -2.93% | -1.20% |
Max Drawdown (5Y)Largest decline over 5 years | -5.22% | -15.86% | +10.64% |
Max Drawdown (10Y)Largest decline over 10 years | -9.47% | -16.23% | +6.76% |
Current DrawdownCurrent decline from peak | -1.09% | -1.80% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -2.13% | -3.08% | +0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 1.14% | +0.08% |
Volatility
BGCKX vs. BNDX - Volatility Comparison
BlackRock Global Equity Market Neutral Fund Institutional Shares (BGCKX) has a higher volatility of 2.53% compared to Vanguard Total International Bond ETF (BNDX) at 1.08%. This indicates that BGCKX's price experiences larger fluctuations and is considered to be riskier than BNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGCKX | BNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.53% | 1.08% | +1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 5.34% | 3.10% | +2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.38% | 3.53% | +3.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.66% | 4.90% | +1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.89% | 4.09% | +1.80% |
BGCKX vs. BNDX - Expense Ratio Comparison
BGCKX has a 1.29% expense ratio, which is higher than BNDX's 0.07% expense ratio.
Dividends
BGCKX vs. BNDX - Dividend Comparison
BGCKX's dividend yield for the trailing twelve months is around 11.57%, more than BNDX's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGCKX BlackRock Global Equity Market Neutral Fund Institutional Shares | 11.57% | 8.96% | 13.25% | 7.49% | 0.00% | 1.22% | 0.34% | 6.80% | 0.96% | 0.00% | 0.00% | 0.00% |
BNDX Vanguard Total International Bond ETF | 4.31% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |
Frequently Asked Questions
BGCKX and BNDX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGCKX has higher volatility (2.53%) compared to BNDX (1.08%). In terms of maximum drawdown, BGCKX dropped -9.47% vs BNDX's -16.23%.
BGCKX currently has the higher Sharpe Ratio (3.26 vs 0.34), 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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