BSPIX vs. MDIIX

Last updated Jun 4, 2026

BSPIX (iShares S&P 500 Index Fund Institutional Class) and MDIIX (iShares MSCI EAFE International Index Fund) are both mutual funds - BSPIX 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, BSPIX returned 15.46%/yr vs 9.08%/yr for MDIIX. A 0.77 correlation means they provide meaningful diversification when combined. BSPIX charges 0.10%/yr vs 0.35%/yr for MDIIX.

Performance

BSPIX vs. MDIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 Index Fund Institutional Class (BSPIX) and iShares MSCI EAFE International Index Fund (MDIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSPIX achieves a 11.65% return, which is significantly higher than MDIIX's 9.48% return. Over the past 10 years, BSPIX has outperformed MDIIX with an annualized return of 15.46%, while MDIIX has yielded a comparatively lower 9.08% annualized return.

BSPIX

• 1D: 0.13%
• 1M: 5.79%
• YTD: 11.65%
• 6M: 11.68%
• 1Y: 28.84%
• 3Y*: 22.63%
• 5Y*: 14.17%
• 10Y*: 15.46%

MDIIX

• 1D: 0.33%
• 1M: 4.11%
• YTD: 9.48%
• 6M: 11.87%
• 1Y: 22.11%
• 3Y*: 16.86%
• 5Y*: 8.60%
• 10Y*: 9.08%

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

BSPIX vs. MDIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BSPIX iShares S&P 500 Index Fund Institutional Class	11.65%	17.75%	24.85%	26.17%	-18.20%	28.55%	18.35%	31.35%	-4.87%	21.20%
MDIIX iShares MSCI EAFE International Index Fund	9.48%	31.36%	3.36%	18.04%	-14.33%	10.98%	7.68%	21.55%	-13.62%	24.84%

Correlation

The correlation between BSPIX and MDIIX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.77

The correlation between BSPIX and MDIIX has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.

Return for Risk

BSPIX vs. MDIIX — Risk / Return Rank

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

BSPIX

BSPIX Risk / Return Rank: 73
BSPIX Sharpe Ratio Rank: 74
BSPIX Sortino Ratio Rank: 67
BSPIX Omega Ratio Rank: 67
BSPIX Calmar Ratio Rank: 74
BSPIX Martin Ratio Rank: 83

MDIIX

MDIIX Risk / Return Rank: 26
MDIIX Sharpe Ratio Rank: 24
MDIIX Sortino Ratio Rank: 24
MDIIX Omega Ratio Rank: 24
MDIIX Calmar Ratio Rank: 26
MDIIX Martin Ratio Rank: 30

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.

BSPIX vs. MDIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Index Fund Institutional Class (BSPIX) 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.

	BSPIX	MDIIX	Difference
Sharpe ratio Return per unit of total volatility	2.51	1.41	+1.09
Sortino ratio Return per unit of downside risk	3.41	2.03	+1.37
Omega ratio Gain probability vs. loss probability	1.46	1.26	+0.20
Calmar ratio Return relative to maximum drawdown	3.34	1.88	+1.46
Martin ratio Return relative to average drawdown	15.58	7.01	+8.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BSPIX vs. MDIIX - Sharpe Ratio Comparison

The current BSPIX Sharpe Ratio is 2.51, which is higher than the MDIIX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of BSPIX and MDIIX, 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

	BSPIX	MDIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	1.41	+1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.53	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.55	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.30	+0.51

Drawdowns

BSPIX vs. MDIIX - Drawdown Comparison

The maximum BSPIX drawdown since its inception was -33.75%, smaller than the maximum MDIIX drawdown of -61.26%. Use the drawdown chart below to compare losses from any high point for BSPIX and MDIIX.

Drawdown Indicators

	BSPIX	MDIIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.75%	-61.26%	+27.51%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-11.32%	+2.41%
Max Drawdown (3Y) Largest decline over 3 years	-18.74%	-13.67%	-5.07%
Max Drawdown (5Y) Largest decline over 5 years	-24.55%	-29.43%	+4.88%
Max Drawdown (10Y) Largest decline over 10 years	-33.75%	-34.34%	+0.59%
Current Drawdown Current decline from peak	0.00%	-0.47%	+0.47%
Average Drawdown Average peak-to-trough decline	-3.93%	-15.57%	+11.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	3.03%	-1.13%

Volatility

BSPIX vs. MDIIX - Volatility Comparison

The current volatility for iShares S&P 500 Index Fund Institutional Class (BSPIX) is 2.83%, while iShares MSCI EAFE International Index Fund (MDIIX) has a volatility of 4.67%. This indicates that BSPIX 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.

Volatility by Period

	BSPIX	MDIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	4.67%	-1.84%
Volatility (6M) Calculated over the trailing 6-month period	8.97%	12.20%	-3.23%
Volatility (1Y) Calculated over the trailing 1-year period	11.85%	15.06%	-3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.88%	16.17%	+0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	16.65%	+1.38%

BSPIX vs. MDIIX - Expense Ratio Comparison

BSPIX has a 0.10% expense ratio, which is lower than MDIIX's 0.35% expense ratio.

Dividends

BSPIX vs. MDIIX - Dividend Comparison

BSPIX's dividend yield for the trailing twelve months is around 1.50%, less than MDIIX's 3.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSPIX iShares S&P 500 Index Fund Institutional Class	1.50%	1.66%	1.35%	1.44%	1.94%	1.76%	1.60%	1.92%	1.94%	1.57%	2.30%	2.42%
MDIIX iShares MSCI EAFE International Index Fund	3.19%	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

Can I hold both BSPIX and MDIIX in my portfolio?

BSPIX and MDIIX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSPIX or MDIIX?

MDIIX has higher volatility (4.67%) compared to BSPIX (2.83%). In terms of maximum drawdown, BSPIX dropped -33.75% vs MDIIX's -61.26%.

Which has better risk-adjusted returns?

BSPIX currently has the higher Sharpe Ratio (2.51 vs 1.41), 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.