BSIIX vs. VTEB
BSIIX (BlackRock Strategic Income Opportunities Fund Class I) and VTEB (Vanguard Tax-Exempt Bond ETF) are both funds - BSIIX is a Total Bond Market fund managed by BlackRock, while VTEB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Over the past 10 years, BSIIX returned 3.85%/yr vs 1.97%/yr for VTEB. At a 0.40 correlation, their price movements are largely independent. BSIIX charges 0.69%/yr vs 0.03%/yr for VTEB.
Performance
BSIIX vs. VTEB - Performance Comparison
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Returns By Period
In the year-to-date period, BSIIX achieves a 2.00% return, which is significantly higher than VTEB's 1.72% return. Over the past 10 years, BSIIX has outperformed VTEB with an annualized return of 3.85%, while VTEB has yielded a comparatively lower 1.97% annualized return.
BSIIX
- 1D
- -0.10%
- 1M
- 1.02%
- YTD
- 2.00%
- 6M
- 2.57%
- 1Y
- 6.95%
- 3Y*
- 6.84%
- 5Y*
- 3.01%
- 10Y*
- 3.85%
VTEB
- 1D
- -0.02%
- 1M
- 1.40%
- YTD
- 1.72%
- 6M
- 1.95%
- 1Y
- 6.76%
- 3Y*
- 3.39%
- 5Y*
- 0.95%
- 10Y*
- 1.97%
BSIIX vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BSIIX BlackRock Strategic Income Opportunities Fund Class I | 2.00% | 8.59% | 5.22% | 6.18% | -6.14% | 0.80% | 7.22% | 7.65% | -0.42% | 4.89% |
VTEB Vanguard Tax-Exempt Bond ETF | 1.72% | 3.72% | 1.31% | 6.15% | -7.99% | 1.14% | 5.19% | 7.35% | 1.04% | 4.87% |
Correlation
The correlation between BSIIX and VTEB is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2015 | 0.40 |
The correlation between BSIIX and VTEB shifts across timeframes, from 0.40 (all time) to 0.67 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BSIIX vs. VTEB — Risk / Return Rank
BSIIX
VTEB
BSIIX vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Strategic Income Opportunities Fund Class I (BSIIX) and Vanguard Tax-Exempt Bond ETF (VTEB). 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.
| BSIIX | VTEB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.55 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 2.51 | -0.05 |
| Martin ratioReturn relative to average drawdown | 9.49 | 8.83 | +0.66 |
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Drawdowns
BSIIX vs. VTEB - Drawdown Comparison
The maximum BSIIX drawdown since its inception was -18.76%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for BSIIX and VTEB.
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Drawdown Indicators
| BSIIX | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.76% | -17.00% | -1.76% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -2.71% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -2.84% | -5.53% | +2.69% |
Max Drawdown (5Y)Largest decline over 5 years | -9.13% | -12.64% | +3.51% |
Max Drawdown (10Y)Largest decline over 10 years | -9.91% | -17.00% | +7.09% |
Current DrawdownCurrent decline from peak | -0.31% | -0.26% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -1.80% | -2.32% | +0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.77% | -0.04% |
Volatility
BSIIX vs. VTEB - Volatility Comparison
BlackRock Strategic Income Opportunities Fund Class I (BSIIX) has a higher volatility of 0.92% compared to Vanguard Tax-Exempt Bond ETF (VTEB) at 0.71%. This indicates that BSIIX's price experiences larger fluctuations and is considered to be riskier than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSIIX | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 0.71% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.37% | 2.06% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.96% | 2.68% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.65% | 3.90% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.15% | 5.26% | -2.11% |
BSIIX vs. VTEB - Expense Ratio Comparison
BSIIX has a 0.69% expense ratio, which is higher than VTEB's 0.03% expense ratio.
Dividends
BSIIX vs. VTEB - Dividend Comparison
BSIIX's dividend yield for the trailing twelve months is around 5.15%, more than VTEB's 3.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSIIX BlackRock Strategic Income Opportunities Fund Class I | 5.15% | 5.07% | 4.75% | 3.33% | 3.58% | 2.98% | 2.92% | 3.54% | 3.32% | 3.45% | 2.91% | 3.19% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.35% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Frequently Asked Questions
BSIIX and VTEB have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSIIX has higher volatility (0.92%) compared to VTEB (0.71%). In terms of maximum drawdown, BSIIX dropped -18.76% vs VTEB's -17.00%.
VTEB currently has the higher Sharpe Ratio (2.53 vs 2.36), 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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