BOE vs. BMCIX
BOE (BlackRock Enhanced Global Dividend Trust) and BMCIX (BlackRock High Equity Income Fund) are both Derivative Income funds from BlackRock. Over the past 10 years, BOE returned 9.22%/yr vs 10.00%/yr for BMCIX. A 0.64 correlation means they provide meaningful diversification when combined. BOE charges 1.11%/yr vs 0.85%/yr for BMCIX.
Performance
BOE vs. BMCIX - Performance Comparison
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Returns By Period
In the year-to-date period, BOE achieves a 5.02% return, which is significantly lower than BMCIX's 9.23% return. Over the past 10 years, BOE has underperformed BMCIX with an annualized return of 9.22%, while BMCIX has yielded a comparatively higher 10.00% annualized return.
BOE
- 1D
- -0.17%
- 1M
- 0.19%
- YTD
- 5.02%
- 6M
- 5.20%
- 1Y
- 15.99%
- 3Y*
- 15.14%
- 5Y*
- 6.92%
- 10Y*
- 9.22%
BMCIX
- 1D
- -0.16%
- 1M
- 3.13%
- YTD
- 9.23%
- 6M
- 9.79%
- 1Y
- 22.32%
- 3Y*
- 13.96%
- 5Y*
- 9.32%
- 10Y*
- 10.00%
BOE vs. BMCIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOE BlackRock Enhanced Global Dividend Trust | 5.02% | 18.77% | 16.76% | 12.00% | -15.49% | 18.94% | 7.39% | 26.08% | -19.23% | 29.71% |
BMCIX BlackRock High Equity Income Fund | 9.23% | 17.11% | 7.80% | 10.05% | -2.62% | 22.41% | -1.56% | 22.00% | -6.25% | 16.31% |
Correlation
The correlation between BOE and BMCIX is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since May 26, 2005 | 0.64 |
The correlation between BOE and BMCIX has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.
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Return for Risk
BOE vs. BMCIX — Risk / Return Rank
BOE
BMCIX
BOE vs. BMCIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Enhanced Global Dividend Trust (BOE) and BlackRock High Equity Income Fund (BMCIX). 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.
| BOE | BMCIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.37 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.42 | -1.02 |
| Martin ratioReturn relative to average drawdown | 6.01 | 10.30 | -4.30 |
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Drawdowns
BOE vs. BMCIX - Drawdown Comparison
The maximum BOE drawdown since its inception was -59.39%, smaller than the maximum BMCIX drawdown of -72.64%. Use the drawdown chart below to compare losses from any high point for BOE and BMCIX.
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Drawdown Indicators
| BOE | BMCIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.39% | -72.64% | +13.25% |
Max Drawdown (1Y)Largest decline over 1 year | -11.51% | -9.51% | -2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -14.53% | -13.69% | -0.84% |
Max Drawdown (5Y)Largest decline over 5 years | -26.13% | -18.63% | -7.50% |
Max Drawdown (10Y)Largest decline over 10 years | -36.55% | -38.24% | +1.69% |
Current DrawdownCurrent decline from peak | -1.91% | -0.59% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -9.34% | -18.80% | +9.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 2.23% | +0.44% |
Volatility
BOE vs. BMCIX - Volatility Comparison
BlackRock Enhanced Global Dividend Trust (BOE) has a higher volatility of 4.07% compared to BlackRock High Equity Income Fund (BMCIX) at 3.67%. This indicates that BOE's price experiences larger fluctuations and is considered to be riskier than BMCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOE | BMCIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.07% | 3.67% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 9.99% | 8.84% | +1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.13% | 11.15% | +0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.58% | 13.46% | +1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.33% | 15.77% | +0.56% |
BOE vs. BMCIX - Expense Ratio Comparison
BOE has a 1.11% expense ratio, which is higher than BMCIX's 0.85% expense ratio.
Dividends
BOE vs. BMCIX - Dividend Comparison
BOE's dividend yield for the trailing twelve months is around 8.42%, more than BMCIX's 7.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BMCIX BlackRock High Equity Income Fund | 7.61% | 7.86% | 7.66% | 6.75% | 6.60% | 6.58% | 4.50% | 3.95% | 9.41% | 50.24% | 5.51% | 8.16% |
BOE BlackRock Enhanced Global Dividend Trust | 8.42% | 8.47% | 7.20% | 7.62% | 7.91% | 6.21% | 6.93% | 6.88% | 9.03% | 18.90% | 9.08% | 9.12% |
Frequently Asked Questions
BOE and BMCIX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOE has higher volatility (4.07%) compared to BMCIX (3.67%). In terms of maximum drawdown, BOE dropped -59.39% vs BMCIX's -72.64%.
BMCIX currently has the higher Sharpe Ratio (2.07 vs 1.32), 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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