BGX vs. BXMIX
BGX (Blackstone Long-Short Credit Income Fund) and BXMIX (Blackstone Alternative Multi-Strategy Fund) are both mutual funds - BGX is a Long-Short fund actively managed by Blackstone, while BXMIX is a Multistrategy fund managed by Blackstone. Over the past 10 years, BGX returned 6.09%/yr vs 4.43%/yr for BXMIX. At a 0.24 correlation, their price movements are largely independent. BGX charges 1.46%/yr vs 2.33%/yr for BXMIX.
Performance
BGX vs. BXMIX - Performance Comparison
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Returns By Period
In the year-to-date period, BGX achieves a -4.05% return, which is significantly lower than BXMIX's 5.29% return. Over the past 10 years, BGX has outperformed BXMIX with an annualized return of 6.09%, while BXMIX has yielded a comparatively lower 4.43% annualized return.
BGX
- 1D
- -0.28%
- 1M
- 0.57%
- 6M
- -4.38%
- YTD
- -4.05%
- 1Y
- -5.57%
- 3Y*
- 8.06%
- 5Y*
- 2.41%
- 10Y*
- 6.09%
BXMIX
- 1D
- 0.09%
- 1M
- 1.94%
- 6M
- 4.52%
- YTD
- 5.29%
- 1Y
- 13.12%
- 3Y*
- 9.66%
- 5Y*
- 4.95%
- 10Y*
- 4.43%
BGX vs. BXMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGX Blackstone Long-Short Credit Income Fund | -4.05% | 2.09% | 19.83% | 18.92% | -20.57% | 17.54% | -5.67% | 24.98% | -4.19% | 7.28% |
BXMIX Blackstone Alternative Multi-Strategy Fund | 5.29% | 10.45% | 7.45% | 7.92% | -4.62% | 5.27% | -1.10% | 6.78% | -1.51% | 7.20% |
Correlation
The correlation between BGX and BXMIX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.24 |
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Return for Risk
BGX vs. BXMIX — Risk / Return Rank
BGX
BXMIX
BGX vs. BXMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackstone Long-Short Credit Income Fund (BGX) and Blackstone Alternative Multi-Strategy Fund (BXMIX). 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.
| BGX | BXMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.48 | ||
| Sortino ratioReturn per unit of downside risk | -8.91 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 2.05 | -1.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.45 | 10.67 | -11.12 |
| Martin ratioReturn relative to average drawdown | -0.88 | 42.61 | -43.49 |
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Drawdowns
BGX vs. BXMIX - Drawdown Comparison
The maximum BGX drawdown since its inception was -47.40%, which is greater than BXMIX's maximum drawdown of -19.28%. Use the drawdown chart below to compare losses from any high point for BGX and BXMIX.
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Drawdown Indicators
| BGX | BXMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.40% | -19.28% | -28.12% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -1.53% | -10.90% |
Max Drawdown (3Y)Largest decline over 3 years | -14.08% | -8.47% | -5.61% |
Max Drawdown (5Y)Largest decline over 5 years | -25.94% | -8.56% | -17.38% |
Max Drawdown (10Y)Largest decline over 10 years | -47.40% | -19.28% | -28.12% |
Current DrawdownCurrent decline from peak | -7.73% | 0.00% | -7.73% |
Average DrawdownAverage peak-to-trough decline | -6.99% | -2.49% | -4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.38% | 0.36% | +6.02% |
Volatility
BGX vs. BXMIX - Volatility Comparison
The current volatility for Blackstone Long-Short Credit Income Fund (BGX) is 1.02%, while Blackstone Alternative Multi-Strategy Fund (BXMIX) has a volatility of 1.25%. This indicates that BGX experiences smaller price fluctuations and is considered to be less risky than BXMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGX | BXMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 1.25% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 5.71% | 2.61% | +3.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.84% | 3.44% | +4.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.73% | 6.01% | +5.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.51% | 5.26% | +12.25% |
BGX vs. BXMIX - Expense Ratio Comparison
BGX has a 1.46% expense ratio, which is lower than BXMIX's 2.33% expense ratio.
Dividends
BGX vs. BXMIX - Dividend Comparison
BGX's dividend yield for the trailing twelve months is around 9.06%, more than BXMIX's 7.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGX Blackstone Long-Short Credit Income Fund | 9.06% | 8.87% | 9.89% | 11.71% | 8.15% | 7.01% | 8.76% | 9.35% | 11.74% | 7.12% | 9.01% | 8.72% |
BXMIX Blackstone Alternative Multi-Strategy Fund | 7.36% | 7.75% | 5.75% | 3.48% | 0.00% | 1.68% | 3.12% | 3.67% | 1.91% | 2.00% | 0.45% | 2.52% |
Frequently Asked Questions
BGX and BXMIX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BXMIX has higher volatility (1.25%) compared to BGX (1.02%). In terms of maximum drawdown, BGX dropped -47.40% vs BXMIX's -19.28%.
BXMIX currently has the higher Sharpe Ratio (4.76 vs -0.71), 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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