BHYAX vs. DVY
BHYAX (BlackRock High Yield Bond Fund Investor A Shares) and DVY (iShares Select Dividend ETF) are both funds - BHYAX is a High Yield Bonds fund tracking the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index, while DVY is a Large Cap Value Equities fund tracking the Dow Jones U.S. Select Dividend Index. Both are passively managed. Over the past 10 years, BHYAX returned 5.33%/yr vs 10.10%/yr for DVY. At a 0.37 correlation, their price movements are largely independent. BHYAX charges 0.93%/yr vs 0.39%/yr for DVY.
Performance
BHYAX vs. DVY - Performance Comparison
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Returns By Period
In the year-to-date period, BHYAX achieves a 1.19% return, which is significantly lower than DVY's 10.24% return. Over the past 10 years, BHYAX has underperformed DVY with an annualized return of 5.33%, while DVY has yielded a comparatively higher 10.10% annualized return.
BHYAX
- 1D
- -0.42%
- 1M
- -0.17%
- YTD
- 1.19%
- 6M
- 1.84%
- 1Y
- 7.08%
- 3Y*
- 8.33%
- 5Y*
- 3.77%
- 10Y*
- 5.33%
DVY
- 1D
- -0.64%
- 1M
- 1.40%
- YTD
- 10.24%
- 6M
- 11.57%
- 1Y
- 21.73%
- 3Y*
- 15.00%
- 5Y*
- 8.74%
- 10Y*
- 10.10%
BHYAX vs. DVY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BHYAX BlackRock High Yield Bond Fund Investor A Shares | 1.19% | 8.96% | 7.55% | 12.19% | -11.63% | 5.21% | 5.54% | 15.15% | -3.24% | 8.03% |
DVY iShares Select Dividend ETF | 10.24% | 11.60% | 16.24% | 1.12% | 1.80% | 31.70% | -4.91% | 22.62% | -6.36% | 14.82% |
Correlation
The correlation between BHYAX and DVY is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2003 | 0.37 |
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Return for Risk
BHYAX vs. DVY — Risk / Return Rank
BHYAX
DVY
BHYAX vs. DVY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock High Yield Bond Fund Investor A Shares (BHYAX) and iShares Select Dividend ETF (DVY). 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.
| BHYAX | DVY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.34 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 3.17 | -0.14 |
| Martin ratioReturn relative to average drawdown | 14.86 | 11.16 | +3.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BHYAX | DVY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.03 | 1.97 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.58 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | 0.56 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 0.48 | +0.66 |
Drawdowns
BHYAX vs. DVY - Drawdown Comparison
The maximum BHYAX drawdown since its inception was -35.18%, smaller than the maximum DVY drawdown of -62.59%. Use the drawdown chart below to compare losses from any high point for BHYAX and DVY.
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Drawdown Indicators
| BHYAX | DVY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.18% | -62.59% | +27.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.30% | -6.89% | +4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -4.10% | -16.00% | +11.90% |
Max Drawdown (5Y)Largest decline over 5 years | -15.60% | -17.54% | +1.94% |
Max Drawdown (10Y)Largest decline over 10 years | -23.25% | -41.59% | +18.34% |
Current DrawdownCurrent decline from peak | -0.56% | -1.48% | +0.92% |
Average DrawdownAverage peak-to-trough decline | -2.86% | -8.79% | +5.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 1.95% | -1.48% |
Volatility
BHYAX vs. DVY - Volatility Comparison
The current volatility for BlackRock High Yield Bond Fund Investor A Shares (BHYAX) is 1.16%, while iShares Select Dividend ETF (DVY) has a volatility of 2.70%. This indicates that BHYAX experiences smaller price fluctuations and is considered to be less risky than DVY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BHYAX | DVY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 2.70% | -1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 7.56% | -4.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 11.11% | -7.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 15.21% | -10.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.90% | 18.02% | -12.12% |
BHYAX vs. DVY - Expense Ratio Comparison
BHYAX has a 0.93% expense ratio, which is higher than DVY's 0.39% expense ratio.
Dividends
BHYAX vs. DVY - Dividend Comparison
BHYAX's dividend yield for the trailing twelve months is around 6.75%, more than DVY's 3.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHYAX BlackRock High Yield Bond Fund Investor A Shares | 6.75% | 6.71% | 6.56% | 5.30% | 4.60% | 4.42% | 4.83% | 5.39% | 6.02% | 5.50% | 5.65% | 6.01% |
DVY iShares Select Dividend ETF | 3.40% | 3.65% | 3.65% | 3.82% | 3.43% | 3.12% | 3.66% | 3.41% | 3.58% | 3.00% | 3.04% | 3.45% |
Frequently Asked Questions
BHYAX and DVY have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DVY has higher volatility (2.70%) compared to BHYAX (1.16%). In terms of maximum drawdown, BHYAX dropped -35.18% vs DVY's -62.59%.
BHYAX currently has the higher Sharpe Ratio (2.03 vs 1.97), 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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