BMCIX vs. BMEAX

Last updated Jun 26, 2026

BMCIX (BlackRock High Equity Income Fund) and BMEAX (BlackRock High Equity Income Fund Class A) are both Derivative Income funds from BlackRock. Over the past 10 years, BMCIX returned 9.92%/yr vs 9.33%/yr for BMEAX. With a 1.00 correlation, they move nearly in lockstep. BMCIX charges 0.85%/yr vs 1.10%/yr for BMEAX.

Performance

BMCIX vs. BMEAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock High Equity Income Fund (BMCIX) and BlackRock High Equity Income Fund Class A (BMEAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BMCIX having a 8.47% return and BMEAX slightly lower at 8.35%. Over the past 10 years, BMCIX has outperformed BMEAX with an annualized return of 9.92%, while BMEAX has yielded a comparatively lower 9.33% annualized return.

BMCIX

• 1D: 0.16%
• 1M: 1.96%
• YTD: 8.47%
• 6M: 8.70%
• 1Y: 20.96%
• 3Y*: 13.70%
• 5Y*: 8.89%
• 10Y*: 9.92%

BMEAX

• 1D: 0.15%
• 1M: 1.95%
• YTD: 8.35%
• 6M: 8.58%
• 1Y: 20.66%
• 3Y*: 12.50%
• 5Y*: 7.94%
• 10Y*: 9.33%

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

BMCIX vs. BMEAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BMCIX BlackRock High Equity Income Fund	8.47%	17.11%	7.80%	10.05%	-2.62%	22.41%	-1.56%	22.00%	-6.25%	16.31%
BMEAX BlackRock High Equity Income Fund Class A	8.35%	16.81%	6.18%	8.54%	-3.59%	22.11%	-1.75%	21.68%	-6.50%	15.85%

Correlation

The correlation between BMCIX and BMEAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Apr 30, 1998	1.00

The correlation between BMCIX and BMEAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

BMCIX vs. BMEAX — Risk / Return Rank

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

BMCIX

BMCIX Risk / Return Rank: 54
BMCIX Sharpe Ratio Rank: 59
BMCIX Sortino Ratio Rank: 62
BMCIX Omega Ratio Rank: 55
BMCIX Calmar Ratio Rank: 43
BMCIX Martin Ratio Rank: 53

BMEAX

BMEAX Risk / Return Rank: 53
BMEAX Sharpe Ratio Rank: 58
BMEAX Sortino Ratio Rank: 61
BMEAX Omega Ratio Rank: 55
BMEAX Calmar Ratio Rank: 42
BMEAX Martin Ratio Rank: 52

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.

BMCIX vs. BMEAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock High Equity Income Fund (BMCIX) and BlackRock High Equity Income Fund Class A (BMEAX). 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.

	BMCIX	BMEAX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.82	+0.03
Sortino ratio: Return per unit of downside risk	2.69	2.64	+0.05
Omega ratio: Gain probability vs. loss probability	1.33	1.33	+0.01
Calmar ratio: Return relative to maximum drawdown	2.16	2.12	+0.05
Martin ratio: Return relative to average drawdown	9.21	9.00	+0.21

BMCIX vs. BMEAX - Sharpe Ratio Comparison

The current BMCIX Sharpe Ratio is 1.85, which is comparable to the BMEAX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of BMCIX and BMEAX, 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

BMCIX vs. BMEAX - Drawdown Comparison

The maximum BMCIX drawdown since its inception was -72.64%, roughly equal to the maximum BMEAX drawdown of -73.05%. Use the drawdown chart below to compare losses from any high point for BMCIX and BMEAX.

Drawdown Indicators

	BMCIX	BMEAX	Difference
Max Drawdown Largest peak-to-trough decline	-72.64%	-73.05%	+0.41%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-9.56%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-13.69%	-13.79%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	-18.63%	-19.32%	+0.69%
Max Drawdown (10Y) Largest decline over 10 years	-38.24%	-38.27%	+0.03%
Current Drawdown Current decline from peak	-1.28%	-1.31%	+0.03%
Average Drawdown Average peak-to-trough decline	-18.80%	-19.63%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	2.25%	-0.02%

Volatility

BMCIX vs. BMEAX - Volatility Comparison

BlackRock High Equity Income Fund (BMCIX) and BlackRock High Equity Income Fund Class A (BMEAX) have volatilities of 3.80% and 3.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BMCIX	BMEAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	3.79%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	8.88%	8.93%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	11.16%	11.18%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.46%	13.46%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.72%	15.71%	+0.01%

BMCIX vs. BMEAX - Expense Ratio Comparison

BMCIX has a 0.85% expense ratio, which is lower than BMEAX's 1.10% expense ratio.

Dividends

BMCIX vs. BMEAX - Dividend Comparison

BMCIX's dividend yield for the trailing twelve months is around 7.66%, more than BMEAX's 7.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BMCIX BlackRock High Equity Income Fund	7.66%	7.86%	7.66%	6.75%	6.60%	6.58%	4.50%	3.95%	9.41%	50.24%	5.51%	8.16%
BMEAX BlackRock High Equity Income Fund Class A	7.43%	7.62%	6.10%	5.45%	5.70%	6.46%	4.52%	4.46%	10.86%	58.18%	6.05%	8.93%

Frequently Asked Questions

Can I hold both BMCIX and BMEAX in my portfolio?

With a correlation of 1.00, BMCIX and BMEAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BMCIX or BMEAX?

BMCIX has higher volatility (3.80%) compared to BMEAX (3.79%). In terms of maximum drawdown, BMCIX dropped -72.64% vs BMEAX's -73.05%.

Which has better risk-adjusted returns?

BMCIX currently has the higher Sharpe Ratio (1.85 vs 1.82), 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.