BPAY vs. BALI

Last updated Jun 5, 2026

BPAY (BlackRock Future Financial and Technology ETF) and BALI (Blackrock Advantage Large Cap Income ETF) are both exchange-traded funds - BPAY is a Financials Equities fund actively managed by BlackRock, while BALI is a Derivative Income fund actively managed by BlackRock. Both are actively managed. Over the past year, BPAY returned -9.61% vs 26.70% for BALI. A 0.67 correlation means they provide meaningful diversification when combined. BPAY charges 0.70%/yr vs 0.35%/yr for BALI.

Performance

BPAY vs. BALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Future Financial and Technology ETF (BPAY) and Blackrock Advantage Large Cap Income ETF (BALI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BPAY achieves a -10.58% return, which is significantly lower than BALI's 11.50% return.

BPAY

• 1D: 2.12%
• 1M: -1.68%
• YTD: -10.58%
• 6M: -13.16%
• 1Y: -9.61%
• 3Y*: 9.60%
• 5Y*: —
• 10Y*: —

BALI

• 1D: 0.25%
• 1M: 3.94%
• YTD: 11.50%
• 6M: 12.10%
• 1Y: 26.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BPAY vs. BALI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BPAY BlackRock Future Financial and Technology ETF	-10.58%	8.54%	17.28%	13.37%
BALI Blackrock Advantage Large Cap Income ETF	11.50%	14.51%	22.38%	9.52%

Correlation

The correlation between BPAY and BALI is 0.66, 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	0.66
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023	0.67

The correlation between BPAY and BALI has been stable across timeframes, ranging from 0.66 to 0.67 - a consistent structural relationship.

BPAY vs. BALI - Sectors Allocation Comparison

Sectors	BPAY	BALI
Financial Services	53.0%	9.0%
Technology	36.4%	35.0%
Consumer Cyclical	6.0%	10.2%
Industrials	4.6%	8.0%
Real Estate	2.2%	0.9%
Basic Materials	-	1.4%
Communication Services	-	10.6%
Consumer Defensive	-	6.1%
Energy	-	4.3%
Healthcare	-	9.4%
Utilities	-	1.9%

Return for Risk

BPAY vs. BALI — Risk / Return Rank

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

BPAY

BPAY Risk / Return Rank: 6
BPAY Sharpe Ratio Rank: 6
BPAY Sortino Ratio Rank: 6
BPAY Omega Ratio Rank: 6
BPAY Calmar Ratio Rank: 6
BPAY Martin Ratio Rank: 6

BALI

BALI Risk / Return Rank: 84
BALI Sharpe Ratio Rank: 84
BALI Sortino Ratio Rank: 85
BALI Omega Ratio Rank: 84
BALI Calmar Ratio Rank: 79
BALI Martin Ratio Rank: 89

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.

BPAY vs. BALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Future Financial and Technology ETF (BPAY) and Blackrock Advantage Large Cap Income ETF (BALI). 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.

	BPAY	BALI	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	2.71	-3.08
Sortino ratio: Return per unit of downside risk	-0.35	3.76	-4.12
Omega ratio: Gain probability vs. loss probability	0.96	1.51	-0.55
Calmar ratio: Return relative to maximum drawdown	-0.29	3.99	-4.28
Martin ratio: Return relative to average drawdown	-0.56	19.95	-20.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPAY vs. BALI - Sharpe Ratio Comparison

The current BPAY Sharpe Ratio is -0.37, which is lower than the BALI Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of BPAY and BALI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BPAY	BALI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.37	2.71	-3.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	1.73	-1.65

Drawdowns

BPAY vs. BALI - Drawdown Comparison

The maximum BPAY drawdown since its inception was -33.62%, which is greater than BALI's maximum drawdown of -16.65%. Use the drawdown chart below to compare losses from any high point for BPAY and BALI.

Drawdown Indicators

	BPAY	BALI	Difference
Max Drawdown Largest peak-to-trough decline	-33.62%	-16.65%	-16.97%
Max Drawdown (1Y) Largest decline over 1 year	-33.62%	-6.71%	-26.91%
Max Drawdown (3Y) Largest decline over 3 years	-33.62%	—	—
Current Drawdown Current decline from peak	-24.46%	-0.16%	-24.30%
Average Drawdown Average peak-to-trough decline	-10.55%	-1.63%	-8.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.05%	1.34%	+15.71%

Volatility

BPAY vs. BALI - Volatility Comparison

BlackRock Future Financial and Technology ETF (BPAY) has a higher volatility of 7.26% compared to Blackrock Advantage Large Cap Income ETF (BALI) at 1.87%. This indicates that BPAY's price experiences larger fluctuations and is considered to be riskier than BALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPAY	BALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.26%	1.87%	+5.39%
Volatility (6M) Calculated over the trailing 6-month period	18.84%	7.47%	+11.37%
Volatility (1Y) Calculated over the trailing 1-year period	26.06%	9.91%	+16.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.36%	12.92%	+11.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.36%	12.92%	+11.44%

BPAY vs. BALI - Expense Ratio Comparison

BPAY has a 0.70% expense ratio, which is higher than BALI's 0.35% expense ratio.

Dividends

BPAY vs. BALI - Dividend Comparison

BPAY's dividend yield for the trailing twelve months is around 7.25%, less than BALI's 7.64% yield.

Position	TTM	2025	2024	2023	2022
BALI Blackrock Advantage Large Cap Income ETF	7.64%	8.51%	7.13%	2.13%	0.00%
BPAY BlackRock Future Financial and Technology ETF	7.25%	6.49%	0.48%	1.18%	0.18%

Frequently Asked Questions

Can I hold both BPAY and BALI in my portfolio?

BPAY and BALI have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BPAY or BALI?

BPAY has higher volatility (7.26%) compared to BALI (1.87%). In terms of maximum drawdown, BPAY dropped -33.62% vs BALI's -16.65%.

Which ETF is better, BPAY or BALI?

On 1-year performance, BALI leads with 26.70% vs -9.61% for BPAY. On fees, BALI is cheaper at 0.35% per year. On volatility, BALI has been the lower-risk option at 1.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BPAY or BALI?

Over the 1-year period, BALI has performed better with a 26.70% return vs -9.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BPAY or BALI?

BALI is cheaper with a 0.35% expense ratio, compared with 0.70% for BPAY.

Which ETF pays a higher dividend yield, BPAY or BALI?

BALI has the higher dividend yield at 7.64%, compared with 7.25% for BPAY.

What is the main difference between BPAY and BALI?

BPAY is categorized as Financials Equities, while BALI is Derivative Income. Their fees differ too: 0.70% for BPAY and 0.35% for BALI.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.71 vs -0.37), 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.