BRIIX vs. BCX

Last updated Aug 1, 2026

BRIIX (Baron Real Estate Income Fund) and BCX (Blackrock Resources & Commodities Strategy Trust) are both mutual funds - BRIIX is a REIT fund managed by Baron Capital, while BCX is a Natural Resources fund managed by BlackRock. Over the past 5 years, BRIIX returned 5.24%/yr vs 12.91%/yr for BCX. Their 0.42 correlation means their historical movements had little consistent relationship. BRIIX charges 1.08%/yr vs 1.10%/yr for BCX.

Performance

BRIIX vs. BCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Real Estate Income Fund (BRIIX) and Blackrock Resources & Commodities Strategy Trust (BCX). 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 BRIIX having a 14.38% return and BCX slightly lower at 14.22%.

BRIIX

• 1D: -1.52%
• 1M: -0.15%
• 6M: 13.19%
• YTD: 14.38%
• 1Y: 19.89%
• 3Y*: 13.30%
• 5Y*: 5.24%
• 10Y*: —
• ALL TIME*: 9.86%

BCX

• 1D: 1.86%
• 1M: 5.78%
• 6M: -0.02%
• YTD: 14.22%
• 1Y: 37.51%
• 3Y*: 15.78%
• 5Y*: 12.91%
• 10Y*: 11.96%
• ALL TIME*: 4.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BCX Blackrock Resources & Commodities Strategy Trust	$2.17M	$1.87M	$2.36M
BRIIX Baron Real Estate Income Fund	$0.00	$0.00	$0.00

BRIIX vs. BCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRIIX Baron Real Estate Income Fund	14.38%	3.73%	17.32%	15.52%	-27.49%	29.29%	22.32%	36.54%	-11.02%	0.00%
BCX Blackrock Resources & Commodities Strategy Trust	14.22%	40.37%	3.18%	-4.79%	12.80%	32.90%	0.04%	23.80%	-22.55%	1.56%

Correlation

The correlation between BRIIX and BCX is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (3Y) Balances recent behavior with more history.	0.35
Correlation (5Y) Shows whether the relationship held over a longer period.	0.39
Correlation (All Time) Calculated using the full available price history since Dec 29, 2017	0.42

The correlation between BRIIX and BCX shifts across timeframes, from 0.23 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BRIIX vs. BCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BRIIX

BRIIX Risk / Return Rank: 57
BRIIX Sharpe Ratio Rank: 50
BRIIX Sortino Ratio Rank: 47
BRIIX Omega Ratio Rank: 46
BRIIX Calmar Ratio Rank: 74
BRIIX Martin Ratio Rank: 69

BCX

BCX Risk / Return Rank: 62
BCX Sharpe Ratio Rank: 78
BCX Sortino Ratio Rank: 70
BCX Omega Ratio Rank: 74
BCX Calmar Ratio Rank: 55
BCX Martin Ratio Rank: 33

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BRIIX vs. BCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Real Estate Income Fund (BRIIX) and Blackrock Resources & Commodities Strategy Trust (BCX). 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.

	BRIIX	BCX	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.81	-0.49
Sortino ratio: Return per unit of downside risk	1.85	2.34	-0.49
Omega ratio: Gain probability vs. loss probability	1.23	1.32	-0.08
Calmar ratio: Return relative to maximum drawdown	2.37	1.92	+0.45
Martin ratio: Return relative to average drawdown	8.41	4.76	+3.65

BRIIX vs. BCX - Sharpe Ratio Comparison

The current BRIIX Sharpe Ratio is 1.31, which is comparable to the BCX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of BRIIX and BCX, 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

BRIIX vs. BCX - Drawdown Comparison

The maximum BRIIX drawdown since its inception was -37.06%, smaller than the maximum BCX drawdown of -62.36%. Use the drawdown chart below to compare losses from any high point for BRIIX and BCX.

Drawdown Indicators

	BRIIX	BCX	Difference
Max Drawdown Largest peak-to-trough decline	-37.06%	-62.36%	+25.30%
Max Drawdown (1Y) Largest decline over 1 year	-7.61%	-18.85%	+11.24%
Max Drawdown (3Y) Largest decline over 3 years	-17.53%	-18.85%	+1.32%
Max Drawdown (5Y) Largest decline over 5 years	-32.86%	-29.22%	-3.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-59.23%	—
Current Drawdown Current decline from peak	-1.77%	-9.08%	+7.31%
Average Drawdown Average peak-to-trough decline	-8.45%	-19.57%	+11.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	7.57%	-5.43%

Volatility

BRIIX vs. BCX - Volatility Comparison

The current volatility for Baron Real Estate Income Fund (BRIIX) is 4.43%, while Blackrock Resources & Commodities Strategy Trust (BCX) has a volatility of 4.74%. This indicates that BRIIX experiences smaller price fluctuations and is considered to be less risky than BCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRIIX	BCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	4.74%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	10.66%	17.00%	-6.34%
Volatility (1Y) Calculated over the trailing 1-year period	13.84%	19.99%	-6.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.41%	21.41%	-3.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.54%	23.58%	-3.04%

BRIIX vs. BCX - Expense Ratio Comparison

BRIIX has a 1.08% expense ratio, which is lower than BCX's 1.10% expense ratio.

Dividends

BRIIX vs. BCX - Dividend Comparison

BRIIX's dividend yield for the trailing twelve months is around 1.41%, less than BCX's 6.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCX Blackrock Resources & Commodities Strategy Trust	6.94%	7.62%	7.49%	7.00%	5.52%	5.13%	7.10%	7.67%	8.77%	6.19%	6.98%	11.38%
BRIIX Baron Real Estate Income Fund	1.41%	1.70%	1.39%	1.95%	2.00%	1.21%	0.77%	1.12%	3.03%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BRIIX and BCX in my portfolio?

BRIIX and BCX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRIIX or BCX?

BCX has higher volatility (4.74%) compared to BRIIX (4.43%). In terms of maximum drawdown, BRIIX dropped -37.06% vs BCX's -62.36%.

Which has better risk-adjusted returns?

BCX currently has the higher Sharpe Ratio (1.81 vs 1.31), 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.