BGY vs. WFSPX

Last updated Jun 4, 2026

BGY (BlackRock Enhanced International Dividend Trust) and WFSPX (iShares S&P 500 Index Fund) are both mutual funds - BGY is a Derivative Income fund actively managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. BGY is actively managed, while WFSPX is passively managed. Over the past 10 years, BGY returned 7.65%/yr vs 15.54%/yr for WFSPX. A 0.65 correlation means they provide meaningful diversification when combined. BGY charges 1.19%/yr vs 0.03%/yr for WFSPX.

Performance

BGY vs. WFSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Enhanced International Dividend Trust (BGY) and iShares S&P 500 Index Fund (WFSPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BGY achieves a 1.94% return, which is significantly lower than WFSPX's 11.69% return. Over the past 10 years, BGY has underperformed WFSPX with an annualized return of 7.65%, while WFSPX has yielded a comparatively higher 15.54% annualized return.

BGY

• 1D: -0.69%
• 1M: 2.52%
• YTD: 1.94%
• 6M: 5.01%
• 1Y: 9.01%
• 3Y*: 10.97%
• 5Y*: 5.52%
• 10Y*: 7.65%

WFSPX

• 1D: 0.13%
• 1M: 5.80%
• YTD: 11.69%
• 6M: 11.72%
• 1Y: 28.93%
• 3Y*: 22.71%
• 5Y*: 14.24%
• 10Y*: 15.54%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BGY vs. WFSPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BGY BlackRock Enhanced International Dividend Trust	1.94%	21.21%	8.66%	13.36%	-13.61%	14.18%	7.70%	27.38%	-17.59%	27.43%
WFSPX iShares S&P 500 Index Fund	11.69%	17.83%	24.94%	26.25%	-18.14%	28.63%	18.43%	31.45%	-4.83%	21.27%

Correlation

The correlation between BGY and WFSPX is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since May 29, 2007	0.65

The correlation between BGY and WFSPX has been stable across timeframes, ranging from 0.60 to 0.66 - a consistent structural relationship.

Return for Risk

BGY vs. WFSPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BGY

BGY Risk / Return Rank: 7
BGY Sharpe Ratio Rank: 8
BGY Sortino Ratio Rank: 8
BGY Omega Ratio Rank: 8
BGY Calmar Ratio Rank: 6
BGY Martin Ratio Rank: 7

WFSPX

WFSPX Risk / Return Rank: 73
WFSPX Sharpe Ratio Rank: 75
WFSPX Sortino Ratio Rank: 67
WFSPX Omega Ratio Rank: 67
WFSPX Calmar Ratio Rank: 74
WFSPX Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BGY vs. WFSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Enhanced International Dividend Trust (BGY) and iShares S&P 500 Index Fund (WFSPX). 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.

	BGY	WFSPX	Difference
Sharpe ratio: Return per unit of total volatility	0.62	2.52	-1.89
Sortino ratio: Return per unit of downside risk	0.98	3.42	-2.44
Omega ratio: Gain probability vs. loss probability	1.12	1.46	-0.34
Calmar ratio: Return relative to maximum drawdown	0.58	3.35	-2.77
Martin ratio: Return relative to average drawdown	2.05	15.65	-13.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGY vs. WFSPX - Sharpe Ratio Comparison

The current BGY Sharpe Ratio is 0.62, which is lower than the WFSPX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of BGY and WFSPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BGY	WFSPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	2.52	-1.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.85	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.87	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.13	+0.03

Drawdowns

BGY vs. WFSPX - Drawdown Comparison

The maximum BGY drawdown since its inception was -64.36%, which is greater than WFSPX's maximum drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for BGY and WFSPX.

Drawdown Indicators

	BGY	WFSPX	Difference
Max Drawdown Largest peak-to-trough decline	-64.36%	-58.21%	-6.15%
Max Drawdown (1Y) Largest decline over 1 year	-15.47%	-8.90%	-6.57%
Max Drawdown (3Y) Largest decline over 3 years	-15.47%	-18.74%	+3.27%
Max Drawdown (5Y) Largest decline over 5 years	-28.45%	-24.51%	-3.94%
Max Drawdown (10Y) Largest decline over 10 years	-34.06%	-33.74%	-0.32%
Current Drawdown Current decline from peak	-4.83%	0.00%	-4.83%
Average Drawdown Average peak-to-trough decline	-11.27%	-12.77%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.39%	1.90%	+2.49%

Volatility

BGY vs. WFSPX - Volatility Comparison

BlackRock Enhanced International Dividend Trust (BGY) has a higher volatility of 4.16% compared to iShares S&P 500 Index Fund (WFSPX) at 2.82%. This indicates that BGY's price experiences larger fluctuations and is considered to be riskier than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGY	WFSPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	2.82%	+1.34%
Volatility (6M) Calculated over the trailing 6-month period	11.79%	8.97%	+2.82%
Volatility (1Y) Calculated over the trailing 1-year period	14.56%	11.85%	+2.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.26%	16.88%	-0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	18.02%	-1.02%

BGY vs. WFSPX - Expense Ratio Comparison

BGY has a 1.19% expense ratio, which is higher than WFSPX's 0.03% expense ratio.

Dividends

BGY vs. WFSPX - Dividend Comparison

BGY's dividend yield for the trailing twelve months is around 8.84%, more than WFSPX's 1.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGY BlackRock Enhanced International Dividend Trust	8.84%	8.69%	7.80%	7.70%	8.08%	6.46%	6.91%	6.89%	8.90%	6.99%	9.47%	9.42%
WFSPX iShares S&P 500 Index Fund	1.56%	1.72%	1.41%	1.50%	2.02%	1.82%	1.66%	1.99%	2.00%	1.62%	2.37%	2.49%

Frequently Asked Questions

Can I hold both BGY and WFSPX in my portfolio?

BGY and WFSPX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BGY or WFSPX?

BGY has higher volatility (4.16%) compared to WFSPX (2.82%). In terms of maximum drawdown, BGY dropped -64.36% vs WFSPX's -58.21%.

Which has better risk-adjusted returns?

WFSPX currently has the higher Sharpe Ratio (2.52 vs 0.62), 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.