BSPAX vs. MDIIX
BSPAX (iShares S&P 500 Index Fund Investor A Shares) and MDIIX (iShares MSCI EAFE International Index Fund) are both mutual funds - BSPAX is a S&P 500 fund tracking the S&P 500 Index, while MDIIX is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index (Net). Both are passively managed. Over the past 10 years, BSPAX returned 14.55%/yr vs 9.21%/yr for MDIIX. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.
Performance
BSPAX vs. MDIIX - Performance Comparison
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Returns By Period
In the year-to-date period, BSPAX achieves a 9.42% return, which is significantly lower than MDIIX's 9.95% return. Over the past 10 years, BSPAX has outperformed MDIIX with an annualized return of 14.55%, while MDIIX has yielded a comparatively lower 9.21% annualized return.
BSPAX
- 1D
- -1.01%
- 1M
- -0.53%
- 6M
- 7.88%
- YTD
- 9.42%
- 1Y
- 19.39%
- 3Y*
- 19.01%
- 5Y*
- 12.71%
- 10Y*
- 14.55%
MDIIX
- 1D
- -0.71%
- 1M
- -0.52%
- 6M
- 6.08%
- YTD
- 9.95%
- 1Y
- 21.61%
- 3Y*
- 15.63%
- 5Y*
- 9.15%
- 10Y*
- 9.21%
BSPAX vs. MDIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BSPAX iShares S&P 500 Index Fund Investor A Shares | 9.42% | 17.46% | 24.54% | 25.85% | -18.40% | 28.22% | 18.05% | 31.02% | -5.05% | 20.97% |
MDIIX iShares MSCI EAFE International Index Fund | 9.95% | 31.36% | 3.36% | 18.04% | -14.33% | 10.98% | 7.68% | 21.55% | -13.62% | 24.84% |
Correlation
The correlation between BSPAX and MDIIX is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.78 |
The correlation between BSPAX and MDIIX has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.
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Return for Risk
BSPAX vs. MDIIX — Risk / Return Rank
BSPAX
MDIIX
BSPAX vs. MDIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Index Fund Investor A Shares (BSPAX) and iShares MSCI EAFE International Index Fund (MDIIX). 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.
| BSPAX | MDIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 1.93 | +0.25 |
| Martin ratioReturn relative to average drawdown | 9.50 | 7.16 | +2.34 |
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Drawdowns
BSPAX vs. MDIIX - Drawdown Comparison
The maximum BSPAX drawdown since its inception was -33.76%, smaller than the maximum MDIIX drawdown of -61.26%. Use the drawdown chart below to compare losses from any high point for BSPAX and MDIIX.
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Drawdown Indicators
| BSPAX | MDIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.76% | -61.26% | +27.50% |
Max Drawdown (1Y)Largest decline over 1 year | -8.95% | -11.32% | +2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -18.77% | -13.67% | -5.10% |
Max Drawdown (5Y)Largest decline over 5 years | -24.70% | -29.43% | +4.73% |
Max Drawdown (10Y)Largest decline over 10 years | -33.76% | -34.34% | +0.58% |
Current DrawdownCurrent decline from peak | -1.90% | -1.49% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -15.51% | +11.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 3.04% | -0.99% |
Volatility
BSPAX vs. MDIIX - Volatility Comparison
The current volatility for iShares S&P 500 Index Fund Investor A Shares (BSPAX) is 3.37%, while iShares MSCI EAFE International Index Fund (MDIIX) has a volatility of 4.23%. This indicates that BSPAX experiences smaller price fluctuations and is considered to be less risky than MDIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSPAX | MDIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 4.23% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 10.04% | 13.24% | -3.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.59% | 15.70% | -3.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.98% | 16.28% | +0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.01% | 16.37% | +1.64% |
BSPAX vs. MDIIX - Expense Ratio Comparison
Both BSPAX and MDIIX have an expense ratio of 0.35%.
Dividends
BSPAX vs. MDIIX - Dividend Comparison
BSPAX's dividend yield for the trailing twelve months is around 1.37%, less than MDIIX's 3.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSPAX iShares S&P 500 Index Fund Investor A Shares | 1.37% | 1.43% | 1.12% | 1.22% | 1.67% | 1.52% | 1.37% | 1.70% | 1.74% | 1.40% | 1.62% | 2.17% |
MDIIX iShares MSCI EAFE International Index Fund | 3.18% | 3.49% | 3.15% | 2.94% | 2.52% | 2.78% | 1.72% | 3.05% | 4.24% | 2.21% | 2.60% | 1.94% |
Frequently Asked Questions
BSPAX and MDIIX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MDIIX has higher volatility (4.23%) compared to BSPAX (3.37%). In terms of maximum drawdown, BSPAX dropped -33.76% vs MDIIX's -61.26%.
BSPAX currently has the higher Sharpe Ratio (1.55 vs 1.39), 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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