BLZIX vs. BGSAX

Last updated Jul 1, 2026

BLZIX (BlackRock Sustainable Advantage Emerging Markets Equity Fund) and BGSAX (BlackRock Technology Opportunities Fund Investor A) are both mutual funds - BLZIX is a Emerging Markets Diversified fund managed by BlackRock, while BGSAX is a Technology Equities fund managed by BlackRock. Over the past 5 years, BLZIX returned 6.76%/yr vs 14.76%/yr for BGSAX. A 0.66 correlation means they provide meaningful diversification when combined. BLZIX charges 0.86%/yr vs 1.20%/yr for BGSAX.

Performance

BLZIX vs. BGSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Sustainable Advantage Emerging Markets Equity Fund (BLZIX) and BlackRock Technology Opportunities Fund Investor A (BGSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BLZIX achieves a 26.72% return, which is significantly lower than BGSAX's 38.55% return.

BLZIX

• 1D: 0.98%
• 1M: -1.10%
• YTD: 26.72%
• 6M: 26.83%
• 1Y: 45.92%
• 3Y*: 22.84%
• 5Y*: 6.76%
• 10Y*: —

BGSAX

• 1D: 2.71%
• 1M: 0.41%
• YTD: 38.55%
• 6M: 37.47%
• 1Y: 51.42%
• 3Y*: 37.16%
• 5Y*: 14.76%
• 10Y*: 25.56%

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

BLZIX vs. BGSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BLZIX BlackRock Sustainable Advantage Emerging Markets Equity Fund	26.72%	34.04%	7.36%	8.27%	-21.88%	-3.34%	17.81%
BGSAX BlackRock Technology Opportunities Fund Investor A	38.55%	19.63%	40.56%	49.09%	-43.13%	8.19%	27.15%

Correlation

The correlation between BLZIX and BGSAX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Aug 18, 2020	0.66

The correlation between BLZIX and BGSAX shifts across timeframes, from 0.65 (3 years) to 0.79 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BLZIX vs. BGSAX — Risk / Return Rank

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

BLZIX

BLZIX Risk / Return Rank: 78
BLZIX Sharpe Ratio Rank: 78
BLZIX Sortino Ratio Rank: 64
BLZIX Omega Ratio Rank: 78
BLZIX Calmar Ratio Rank: 86
BLZIX Martin Ratio Rank: 84

BGSAX

BGSAX Risk / Return Rank: 58
BGSAX Sharpe Ratio Rank: 64
BGSAX Sortino Ratio Rank: 49
BGSAX Omega Ratio Rank: 55
BGSAX Calmar Ratio Rank: 75
BGSAX Martin Ratio Rank: 48

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.

BLZIX vs. BGSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Sustainable Advantage Emerging Markets Equity Fund (BLZIX) and BlackRock Technology Opportunities Fund Investor A (BGSAX). 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.

	BLZIX	BGSAX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.84	+0.28
Sortino ratio: Return per unit of downside risk	2.64	2.34	+0.31
Omega ratio: Gain probability vs. loss probability	1.41	1.32	+0.09
Calmar ratio: Return relative to maximum drawdown	3.56	2.86	+0.70
Martin ratio: Return relative to average drawdown	12.83	8.29	+4.54

BLZIX vs. BGSAX - Sharpe Ratio Comparison

The current BLZIX Sharpe Ratio is 2.12, which is comparable to the BGSAX Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of BLZIX and BGSAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BLZIX vs. BGSAX - Drawdown Comparison

The maximum BLZIX drawdown since its inception was -42.19%, smaller than the maximum BGSAX drawdown of -73.75%. Use the drawdown chart below to compare losses from any high point for BLZIX and BGSAX.

Drawdown Indicators

	BLZIX	BGSAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.19%	-73.75%	+31.56%
Max Drawdown (1Y) Largest decline over 1 year	-12.88%	-18.49%	+5.61%
Max Drawdown (3Y) Largest decline over 3 years	-17.44%	-27.75%	+10.31%
Max Drawdown (5Y) Largest decline over 5 years	-42.19%	-49.22%	+7.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.22%	—
Current Drawdown Current decline from peak	-5.21%	-3.78%	-1.43%
Average Drawdown Average peak-to-trough decline	-18.41%	-26.31%	+7.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	6.36%	-2.79%

Volatility

BLZIX vs. BGSAX - Volatility Comparison

The current volatility for BlackRock Sustainable Advantage Emerging Markets Equity Fund (BLZIX) is 12.63%, while BlackRock Technology Opportunities Fund Investor A (BGSAX) has a volatility of 15.86%. This indicates that BLZIX experiences smaller price fluctuations and is considered to be less risky than BGSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLZIX	BGSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.63%	15.86%	-3.23%
Volatility (6M) Calculated over the trailing 6-month period	19.77%	24.69%	-4.92%
Volatility (1Y) Calculated over the trailing 1-year period	21.65%	28.76%	-7.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.01%	28.51%	-9.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.75%	26.23%	-7.48%

BLZIX vs. BGSAX - Expense Ratio Comparison

BLZIX has a 0.86% expense ratio, which is lower than BGSAX's 1.20% expense ratio.

Dividends

BLZIX vs. BGSAX - Dividend Comparison

BLZIX's dividend yield for the trailing twelve months is around 2.28%, less than BGSAX's 9.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BGSAX BlackRock Technology Opportunities Fund Investor A	9.78%	13.55%	8.68%	0.00%	0.00%	7.66%	4.86%	1.50%	1.24%	8.01%	1.17%
BLZIX BlackRock Sustainable Advantage Emerging Markets Equity Fund	2.28%	2.89%	2.00%	2.32%	2.70%	11.00%	0.42%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BLZIX and BGSAX in my portfolio?

BLZIX and BGSAX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLZIX or BGSAX?

BGSAX has higher volatility (15.86%) compared to BLZIX (12.63%). In terms of maximum drawdown, BLZIX dropped -42.19% vs BGSAX's -73.75%.

Which has better risk-adjusted returns?

BLZIX currently has the higher Sharpe Ratio (2.12 vs 1.84), 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.