BMN vs. BSIIX
BMN (Blackrock 2037 Municipal Target Term Trust) and BSIIX (BlackRock Strategic Income Opportunities Fund Class I) are both mutual funds - BMN is a Municipal Bonds fund actively managed by BlackRock, while BSIIX is a Total Bond Market fund managed by BlackRock. Over the past 3 years, BMN returned 5.38%/yr vs 6.43%/yr for BSIIX. Their 0.18 correlation means their historical movements had little consistent relationship. BMN charges 0.93%/yr vs 0.69%/yr for BSIIX.
Performance
BMN vs. BSIIX - Performance Comparison
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Returns By Period
In the year-to-date period, BMN achieves a -0.79% return, which is significantly lower than BSIIX's 1.14% return.
BMN
- 1D
- -0.16%
- 1M
- -1.23%
- 6M
- -1.03%
- YTD
- -0.79%
- 1Y
- 8.86%
- 3Y*
- 5.38%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.58%
BSIIX
- 1D
- 0.21%
- 1M
- -1.03%
- 6M
- 0.21%
- YTD
- 1.14%
- 1Y
- 4.13%
- 3Y*
- 6.43%
- 5Y*
- 2.77%
- 10Y*
- 3.60%
- ALL TIME*
- 3.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $232.04K | $190.07K | $197.63K | |
| $0.00 | $0.00 | $0.00 |
BMN vs. BSIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BMN Blackrock 2037 Municipal Target Term Trust | -0.79% | 7.05% | 12.65% | 1.89% | -2.86% |
BSIIX BlackRock Strategic Income Opportunities Fund Class I | 1.14% | 8.59% | 5.22% | 6.18% | 2.06% |
Correlation
The correlation between BMN and BSIIX is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2022 | 0.18 |
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Return for Risk
BMN vs. BSIIX — Risk / Return Rank
BMN
BSIIX
BMN vs. BSIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackrock 2037 Municipal Target Term Trust (BMN) and BlackRock Strategic Income Opportunities Fund Class I (BSIIX). 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.
| BMN | BSIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.29 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.54 | -0.45 |
| Martin ratioReturn relative to average drawdown | 2.55 | 5.56 | -3.01 |
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Drawdowns
BMN vs. BSIIX - Drawdown Comparison
The maximum BMN drawdown since its inception was -13.04%, smaller than the maximum BSIIX drawdown of -18.76%. Use the drawdown chart below to compare losses from any high point for BMN and BSIIX.
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Drawdown Indicators
| BMN | BSIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.04% | -18.76% | +5.72% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -2.84% | -5.34% |
Max Drawdown (3Y)Largest decline over 3 years | -12.41% | -2.84% | -9.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.91% | — |
Current DrawdownCurrent decline from peak | -6.32% | -1.14% | -5.18% |
Average DrawdownAverage peak-to-trough decline | -2.46% | -1.80% | -0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 0.78% | +2.70% |
Volatility
BMN vs. BSIIX - Volatility Comparison
Blackrock 2037 Municipal Target Term Trust (BMN) has a higher volatility of 2.99% compared to BlackRock Strategic Income Opportunities Fund Class I (BSIIX) at 0.74%. This indicates that BMN's price experiences larger fluctuations and is considered to be riskier than BSIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMN | BSIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 0.74% | +2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 11.11% | 2.43% | +8.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.23% | 2.96% | +10.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.92% | 3.04% | +7.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.92% | 3.15% | +7.77% |
BMN vs. BSIIX - Expense Ratio Comparison
BMN has a 0.93% expense ratio, which is higher than BSIIX's 0.69% expense ratio.
Dividends
BMN vs. BSIIX - Dividend Comparison
BMN's dividend yield for the trailing twelve months is around 4.44%, less than BSIIX's 4.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BMN Blackrock 2037 Municipal Target Term Trust | 4.44% | 4.30% | 4.40% | 4.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BSIIX BlackRock Strategic Income Opportunities Fund Class I | 4.82% | 5.07% | 4.75% | 3.33% | 3.58% | 2.98% | 2.92% | 3.54% | 3.32% | 3.45% | 2.91% | 3.19% |
Frequently Asked Questions
BMN and BSIIX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BMN has higher volatility (2.99%) compared to BSIIX (0.74%). In terms of maximum drawdown, BMN dropped -13.04% vs BSIIX's -18.76%.
BSIIX currently has the higher Sharpe Ratio (1.48 vs 0.67), 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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