BKT vs. SPY
BKT (BlackRock Income Trust) and SPY (State Street SPDR S&P 500 ETF) are both funds - BKT is a fund fund managed by BlackRock, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, BKT returned 0.88%/yr vs 15.07%/yr for SPY. Their 0.08 correlation means their historical movements had little consistent relationship. BKT charges 2.06%/yr vs 0.09%/yr for SPY.
Performance
BKT vs. SPY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BKT achieves a -2.34% return, which is significantly lower than SPY's 10.13% return. Over the past 10 years, BKT has underperformed SPY with an annualized return of 0.88%, while SPY has yielded a comparatively higher 15.07% annualized return.
BKT
- 1D
- -0.39%
- 1M
- -3.43%
- 6M
- -3.63%
- YTD
- -2.34%
- 1Y
- -3.52%
- 3Y*
- 3.78%
- 5Y*
- -3.77%
- 10Y*
- 0.88%
- ALL TIME*
- 2.02%
SPY
- 1D
- 0.72%
- 1M
- 0.30%
- 6M
- 8.53%
- YTD
- 10.13%
- 1Y
- 21.49%
- 3Y*
- 19.32%
- 5Y*
- 12.76%
- 10Y*
- 15.07%
- ALL TIME*
- 10.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.07M | $936.37K | $1.04M | |
| $37.27B | $35.99B | $39.23B |
BKT vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BKT BlackRock Income Trust | -2.34% | 5.92% | 3.33% | 7.69% | -21.51% | -0.44% | 7.36% | 14.91% | -2.59% | 2.58% |
SPY State Street SPDR S&P 500 ETF | 10.13% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between BKT and SPY is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 1993 | 0.08 |
Over the past year, BKT and SPY have become more correlated (0.36) than their long-term average of 0.08, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BKT vs. SPY — Risk / Return Rank
BKT
SPY
BKT vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Income Trust (BKT) and State Street 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.
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.
| BKT | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -2.64 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.27 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 2.20 | -2.69 |
| Martin ratioReturn relative to average drawdown | -0.97 | 9.40 | -10.37 |
Loading charts...
Drawdowns
BKT vs. SPY - Drawdown Comparison
The maximum BKT drawdown since its inception was -48.86%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BKT and SPY.
Loading charts...
Drawdown Indicators
| BKT | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.86% | -55.19% | +6.33% |
Max Drawdown (1Y)Largest decline over 1 year | -6.24% | -8.88% | +2.64% |
Max Drawdown (3Y)Largest decline over 3 years | -10.50% | -18.76% | +8.26% |
Max Drawdown (5Y)Largest decline over 5 years | -35.70% | -24.50% | -11.20% |
Max Drawdown (10Y)Largest decline over 10 years | -35.70% | -33.72% | -1.98% |
Current DrawdownCurrent decline from peak | -19.49% | -1.40% | -18.09% |
Average DrawdownAverage peak-to-trough decline | -14.77% | -9.01% | -5.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 2.08% | +1.03% |
Volatility
BKT vs. SPY - Volatility Comparison
The current volatility for BlackRock Income Trust (BKT) is 2.10%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 3.58%. This indicates that BKT experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BKT | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 3.58% | -1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 5.51% | 10.14% | -4.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.05% | 12.89% | -5.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.18% | 17.18% | -6.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.76% | 17.95% | -8.19% |
BKT vs. SPY - Expense Ratio Comparison
BKT has a 2.06% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
BKT vs. SPY - Dividend Comparison
BKT's dividend yield for the trailing twelve months is around 10.38%, more than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKT BlackRock Income Trust | 10.38% | 9.53% | 9.19% | 8.69% | 8.35% | 7.31% | 6.80% | 6.82% | 6.48% | 5.15% | 5.09% | 5.89% |
SPY State Street SPDR S&P 500 ETF | 1.01% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
BKT and SPY have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPY has higher volatility (3.58%) compared to BKT (2.10%). In terms of maximum drawdown, BKT dropped -48.86% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.52 vs -0.43), 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.
Find the right allocation for BKT and SPY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer