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BPAY vs. IYF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BPAY vs. IYF

Last updated Jun 24, 2026

BPAY (BlackRock Future Financial and Technology ETF) and IYF (iShares U.S. Financials ETF) are both Financials Equities funds. BPAY is actively managed, while IYF is passively managed. Over the past 3 years, BPAY returned 9.14%/yr vs 23.15%/yr for IYF. A 0.76 correlation means they provide meaningful diversification when combined. BPAY charges 0.70%/yr vs 0.42%/yr for IYF.

Performance

BPAY vs. IYF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Future Financial and Technology ETF (BPAY) and iShares U.S. Financials ETF (IYF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BPAY achieves a -10.19% return, which is significantly lower than IYF's 0.92% return.

BPAY

1D
-1.19%
1M
0.93%
YTD
-10.19%
6M
-12.22%
1Y
-17.49%
3Y*
9.14%
5Y*
—
10Y*
—

IYF

1D
0.41%
1M
4.59%
YTD
0.92%
6M
-0.33%
1Y
11.89%
3Y*
23.15%
5Y*
11.53%
10Y*
13.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BPAY vs. IYF - Yearly Performance Comparison

2026 (YTD)2025202420232022
BPAY
BlackRock Future Financial and Technology ETF		-10.19%8.54%17.28%13.19%-16.32%
IYF
iShares U.S. Financials ETF		0.92%18.25%31.30%15.32%-3.95%

Correlation

The correlation between BPAY and IYF 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

0.72

Correlation (All Time)
Calculated using the full available price history since Aug 18, 2022

0.76

The correlation between BPAY and IYF has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.

BPAY vs. IYF - Sectors Allocation Comparison

Sectors
BPAY
IYF

Financial Services

58.0%
99.1%

Technology

30.5%
0.3%

Consumer Cyclical

6.4%

-

Industrials

5.1%

-

Real Estate

2.2%
0.6%

Basic Materials

-

-

Communication Services

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Utilities

-

-

Financial Services

BPAY
58.0%
IYF
99.1%

Technology

BPAY
30.5%
IYF
0.3%

Consumer Cyclical

BPAY
6.4%
IYF

-

Industrials

BPAY
5.1%
IYF

-

Real Estate

BPAY
2.2%
IYF
0.6%

Basic Materials

BPAY

-

IYF

-

Communication Services

BPAY

-

IYF

-

Consumer Defensive

BPAY

-

IYF

-

Energy

BPAY

-

IYF

-

Healthcare

BPAY

-

IYF

-

Utilities

BPAY

-

IYF

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BlackRock Future Financial and Technology ETF

iShares U.S. Financials ETF

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Often compared with IYF:
IYF vs. XLFIYF vs. VFHIYF vs. IYGIYF vs. KBWBIYF vs. KBEIYF vs. IXGIYF vs. FTXO

Return for Risk

BPAY vs. IYF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BPAY
BPAY Risk / Return Rank: 44
Overall Rank
BPAY Sharpe Ratio Rank: 44
Sharpe Ratio Rank
BPAY Sortino Ratio Rank: 44
Sortino Ratio Rank
BPAY Omega Ratio Rank: 44
Omega Ratio Rank
BPAY Calmar Ratio Rank: 44
Calmar Ratio Rank
BPAY Martin Ratio Rank: 44
Martin Ratio Rank
IYF
IYF Risk / Return Rank: 2222
Overall Rank
IYF Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
IYF Sortino Ratio Rank: 2222
Sortino Ratio Rank
IYF Omega Ratio Rank: 2222
Omega Ratio Rank
IYF Calmar Ratio Rank: 2020
Calmar Ratio Rank
IYF Martin Ratio Rank: 2020
Martin Ratio Rank
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. IYF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Future Financial and Technology ETF (BPAY) and iShares U.S. Financials ETF (IYF). 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.

BPAYIYFDifference
Sharpe ratioReturn per unit of total volatility
-0.68
0.82

-1.50

Sortino ratioReturn per unit of downside risk
-0.81
1.19

-2.00

Omega ratioGain probability vs. loss probability

0.91

1.15

-0.24

Calmar ratioReturn relative to maximum drawdown

-0.52

0.86

-1.38

Martin ratioReturn relative to average drawdown

-0.98

2.32

-3.30

BPAY vs. IYF - Sharpe Ratio Comparison

The current BPAY Sharpe Ratio is -0.68, which is lower than the IYF Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of BPAY and IYF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BPAY vs. IYF - Drawdown Comparison

The maximum BPAY drawdown since its inception was -33.62%, smaller than the maximum IYF drawdown of -79.09%. Use the drawdown chart below to compare losses from any high point for BPAY and IYF.

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Drawdown Indicators

BPAYIYFDifference

Max Drawdown

Largest peak-to-trough decline

-33.62%

-79.09%

+45.47%

Max Drawdown (1Y)

Largest decline over 1 year

-33.62%

-13.88%

-19.74%

Max Drawdown (3Y)

Largest decline over 3 years

-33.62%

-16.60%

-17.02%

Max Drawdown (5Y)

Largest decline over 5 years

—

-25.06%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-42.57%

—

Current Drawdown

Current decline from peak

-24.12%

-2.17%

-21.95%

Average Drawdown

Average peak-to-trough decline

-10.72%

-17.58%

+6.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

17.90%

5.14%

+12.76%

Volatility

BPAY vs. IYF - Volatility Comparison

BlackRock Future Financial and Technology ETF (BPAY) has a higher volatility of 9.68% compared to iShares U.S. Financials ETF (IYF) at 4.13%. This indicates that BPAY's price experiences larger fluctuations and is considered to be riskier than IYF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BPAYIYFDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.68%

4.13%

+5.55%

Volatility (6M)

Calculated over the trailing 6-month period

19.74%

11.19%

+8.55%

Volatility (1Y)

Calculated over the trailing 1-year period

25.97%

14.53%

+11.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.48%

19.00%

+5.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.48%

20.84%

+3.64%

BPAY vs. IYF - Expense Ratio Comparison

BPAY has a 0.70% expense ratio, which is higher than IYF's 0.42% expense ratio.

Dividends

BPAY vs. IYF - Dividend Comparison

BPAY's dividend yield for the trailing twelve months is around 7.55%, more than IYF's 1.48% yield.

PositionTTM20252024202320222021202020192018201720162015
BPAY
BlackRock Future Financial and Technology ETF		7.55%6.49%0.48%1.18%0.18%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IYF
iShares U.S. Financials ETF		1.48%1.32%1.29%1.67%1.86%1.27%1.72%1.64%1.90%1.46%1.67%1.66%

Frequently Asked Questions

BPAY and IYF 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.

BPAY has higher volatility (9.68%) compared to IYF (4.13%). In terms of maximum drawdown, BPAY dropped -33.62% vs IYF's -79.09%.

On 3-year performance, IYF leads with 23.15% vs 9.14% for BPAY. On fees, IYF is cheaper at 0.42% per year. On volatility, IYF has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, IYF has performed better with a 23.15% return vs 9.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IYF is cheaper with a 0.42% expense ratio, compared with 0.70% for BPAY.

BPAY has the higher dividend yield at 7.55%, compared with 1.48% for IYF.

They also come from different issuers: BlackRock and iShares. Their fees differ too: 0.70% for BPAY and 0.42% for IYF.

IYF currently has the higher Sharpe Ratio (0.82 vs -0.68), 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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