BIT vs. SPY
Compare and contrast key facts about BlackRock Multi-Sector Income Trust (BIT) and SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BIT or SPY.
Key characteristics
| BIT | SPY | |
|---|---|---|
| YTD Return | 6.08% | 7.26% |
| 1Y Return | 16.06% | 25.03% |
| 3Y Return (Ann) | 3.27% | 8.37% |
| 5Y Return (Ann) | 7.84% | 13.44% |
| 10Y Return (Ann) | 7.68% | 12.49% |
| Sharpe Ratio | 1.61 | 2.35 |
| Daily Std Dev | 10.04% | 11.68% |
| Max Drawdown | -43.54% | -55.19% |
| Current Drawdown | -2.18% | -2.85% |
Correlation
The correlation between BIT and SPY is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
BIT vs. SPY - Performance Comparison
In the year-to-date period, BIT achieves a 6.08% return, which is significantly lower than SPY's 7.26% return. Over the past 10 years, BIT has underperformed SPY with an annualized return of 7.68%, while SPY has yielded a comparatively higher 12.49% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
BIT vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Multi-Sector Income Trust (BIT) and SPDR S&P 500 ETF (SPY). 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.
Dividends
BIT vs. SPY - Dividend Comparison
BIT's dividend yield for the trailing twelve months is around 9.63%, more than SPY's 1.32% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIT BlackRock Multi-Sector Income Trust | 9.63% | 9.90% | 9.58% | 8.18% | 8.46% | 8.84% | 9.12% | 8.39% | 11.35% | 9.00% | 8.43% | 6.49% |
SPY SPDR S&P 500 ETF | 1.32% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
BIT vs. SPY - Drawdown Comparison
The maximum BIT drawdown since its inception was -43.54%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BIT and SPY. For additional features, visit the drawdowns tool.
Volatility
BIT vs. SPY - Volatility Comparison
BlackRock Multi-Sector Income Trust (BIT) has a higher volatility of 3.96% compared to SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that BIT's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.