BGCKX vs. BRGOX
BGCKX (BlackRock Global Equity Market Neutral Fund Institutional Shares) and BRGOX (Bridgeway Global Opportunities Fund Class N) are both Equity Market Neutral funds. Both are actively managed. Over the past year, BGCKX returned 23.61% vs 18.41% for BRGOX. At a 0.28 correlation, their price movements are largely independent. BGCKX charges 1.29%/yr vs 1.63%/yr for BRGOX.
Performance
BGCKX vs. BRGOX - Performance Comparison
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Returns By Period
In the year-to-date period, BGCKX achieves a 13.05% return, which is significantly higher than BRGOX's 7.11% return.
BGCKX
- 1D
- 0.00%
- 1M
- 3.44%
- YTD
- 13.05%
- 6M
- 12.51%
- 1Y
- 23.61%
- 3Y*
- 21.16%
- 5Y*
- 13.20%
- 10Y*
- 8.62%
BRGOX
- 1D
- 1.25%
- 1M
- 1.99%
- YTD
- 7.11%
- 6M
- 6.70%
- 1Y
- 18.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BGCKX vs. BRGOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BGCKX BlackRock Global Equity Market Neutral Fund Institutional Shares | 13.05% | 18.29% |
BRGOX Bridgeway Global Opportunities Fund Class N | 7.11% | 14.76% |
Correlation
The correlation between BGCKX and BRGOX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025 | 0.28 |
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Return for Risk
BGCKX vs. BRGOX — Risk / Return Rank
BGCKX
BRGOX
BGCKX vs. BRGOX - 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 Bridgeway Global Opportunities Fund Class N (BRGOX). 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 | BRGOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.49 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 7.52 | 4.21 | +3.31 |
| Martin ratioReturn relative to average drawdown | 21.35 | 11.63 | +9.72 |
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Drawdowns
BGCKX vs. BRGOX - Drawdown Comparison
The maximum BGCKX drawdown since its inception was -9.47%, which is greater than BRGOX's maximum drawdown of -4.37%. Use the drawdown chart below to compare losses from any high point for BGCKX and BRGOX.
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Drawdown Indicators
| BGCKX | BRGOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.47% | -4.37% | -5.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.23% | -4.37% | +1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -4.13% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -5.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -9.47% | — | — |
Current DrawdownCurrent decline from peak | -0.24% | -1.22% | +0.98% |
Average DrawdownAverage peak-to-trough decline | -2.14% | -1.17% | -0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.68% | -0.54% |
Volatility
BGCKX vs. BRGOX - Volatility Comparison
BlackRock Global Equity Market Neutral Fund Institutional Shares (BGCKX) has a higher volatility of 2.67% compared to Bridgeway Global Opportunities Fund Class N (BRGOX) at 2.36%. This indicates that BGCKX's price experiences larger fluctuations and is considered to be riskier than BRGOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGCKX | BRGOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | 2.36% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 4.93% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.08% | 6.74% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.57% | 7.84% | -1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.84% | 7.84% | -2.00% |
BGCKX vs. BRGOX - Expense Ratio Comparison
BGCKX has a 1.29% expense ratio, which is lower than BRGOX's 1.63% expense ratio.
Dividends
BGCKX vs. BRGOX - Dividend Comparison
BGCKX's dividend yield for the trailing twelve months is around 7.93%, less than BRGOX's 10.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BGCKX BlackRock Global Equity Market Neutral Fund Institutional Shares | 7.93% | 8.96% | 13.25% | 7.49% | 0.00% | 1.22% | 0.34% | 6.80% | 0.96% |
BRGOX Bridgeway Global Opportunities Fund Class N | 10.61% | 11.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BGCKX and BRGOX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGCKX has higher volatility (2.67%) compared to BRGOX (2.36%). In terms of maximum drawdown, BGCKX dropped -9.47% vs BRGOX's -4.37%.
BGCKX currently has the higher Sharpe Ratio (3.44 vs 2.74), 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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