BIT vs. HYT
BIT (BlackRock Multi-Sector Income Trust) is a stock, while HYT (BlackRock Corporate High Yield Fund) is High Yield Bonds fund actively managed by BlackRock. Over the past 10 years, BIT returned 6.90%/yr vs 6.81%/yr for HYT. At a 0.47 correlation, their price movements are largely independent.
Performance
BIT vs. HYT - Performance Comparison
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Returns By Period
In the year-to-date period, BIT achieves a 1.29% return, which is significantly lower than HYT's 1.40% return. Both investments have delivered pretty close results over the past 10 years, with BIT having a 6.90% annualized return and HYT not far behind at 6.81%.
BIT
- 1D
- 0.49%
- 1M
- 1.17%
- 6M
- -0.39%
- YTD
- 1.29%
- 1Y
- -2.42%
- 3Y*
- 6.30%
- 5Y*
- 2.56%
- 10Y*
- 6.90%
- ALL TIME*
- 6.08%
HYT
- 1D
- 0.36%
- 1M
- 0.09%
- 6M
- 1.11%
- YTD
- 1.40%
- 1Y
- -3.72%
- 3Y*
- 8.68%
- 5Y*
- 2.44%
- 10Y*
- 6.81%
- ALL TIME*
- 7.66%
BIT vs. HYT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIT BlackRock Multi-Sector Income Trust | 1.29% | 2.31% | 7.43% | 16.78% | -14.41% | 12.04% | 19.67% | 14.50% | -8.04% | 19.97% |
HYT BlackRock Corporate High Yield Fund | 1.40% | 0.06% | 14.43% | 19.92% | -22.58% | 16.62% | 11.55% | 31.19% | -7.81% | 8.99% |
Correlation
The correlation between BIT and HYT is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2013 | 0.47 |
The correlation between BIT and HYT has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.
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Return for Risk
BIT vs. HYT — Risk / Return Rank
BIT
HYT
BIT vs. HYT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Multi-Sector Income Trust (BIT) and BlackRock Corporate High Yield Fund (HYT). 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.
| BIT | HYT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.94 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | -0.37 | +0.10 |
| Martin ratioReturn relative to average drawdown | -0.49 | -0.83 | +0.35 |
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Drawdowns
BIT vs. HYT - Drawdown Comparison
The maximum BIT drawdown since its inception was -43.54%, smaller than the maximum HYT drawdown of -56.95%. Use the drawdown chart below to compare losses from any high point for BIT and HYT.
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Drawdown Indicators
| BIT | HYT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.54% | -56.95% | +13.41% |
Max Drawdown (1Y)Largest decline over 1 year | -8.99% | -10.17% | +1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -10.42% | -13.95% | +3.53% |
Max Drawdown (5Y)Largest decline over 5 years | -23.72% | -29.05% | +5.33% |
Max Drawdown (10Y)Largest decline over 10 years | -43.54% | -42.59% | -0.95% |
Current DrawdownCurrent decline from peak | -4.32% | -4.70% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -5.90% | +1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.96% | 4.47% | +0.49% |
Volatility
BIT vs. HYT - Volatility Comparison
The current volatility for BlackRock Multi-Sector Income Trust (BIT) is 1.67%, while BlackRock Corporate High Yield Fund (HYT) has a volatility of 1.88%. This indicates that BIT experiences smaller price fluctuations and is considered to be less risky than HYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIT | HYT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 1.88% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 6.21% | 6.85% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.31% | 9.87% | -1.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.04% | 14.38% | -2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.99% | 16.91% | -0.92% |
Dividends
BIT vs. HYT - Dividend Comparison
BIT's dividend yield for the trailing twelve months is around 11.98%, more than HYT's 11.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIT BlackRock Multi-Sector Income Trust | 11.98% | 11.15% | 10.17% | 9.90% | 9.58% | 8.18% | 8.46% | 8.84% | 9.12% | 8.44% | 11.65% | 8.66% |
HYT BlackRock Corporate High Yield Fund | 11.06% | 10.50% | 9.53% | 9.91% | 9.80% | 7.58% | 8.18% | 7.92% | 9.20% | 7.68% | 8.23% | 10.18% |
Frequently Asked Questions
BIT and HYT have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYT has higher volatility (1.88%) compared to BIT (1.67%). In terms of maximum drawdown, BIT dropped -43.54% vs HYT's -56.95%.
BIT currently has the higher Sharpe Ratio (-0.29 vs -0.38), 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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