BXMIX vs. BGX
BXMIX (Blackstone Alternative Multi-Strategy Fund) and BGX (Blackstone Long-Short Credit Income Fund) are both mutual funds - BXMIX is a Multistrategy fund managed by Blackstone, while BGX is a Long-Short fund actively managed by Blackstone. Over the past 10 years, BXMIX returned 4.42%/yr vs 6.63%/yr for BGX. At a 0.24 correlation, their price movements are largely independent. BXMIX charges 2.33%/yr vs 1.46%/yr for BGX.
Performance
BXMIX vs. BGX - Performance Comparison
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Returns By Period
In the year-to-date period, BXMIX achieves a 4.38% return, which is significantly higher than BGX's -3.70% return. Over the past 10 years, BXMIX has underperformed BGX with an annualized return of 4.42%, while BGX has yielded a comparatively higher 6.63% annualized return.
BXMIX
- 1D
- 0.17%
- 1M
- 0.97%
- YTD
- 4.38%
- 6M
- 4.47%
- 1Y
- 12.75%
- 3Y*
- 9.55%
- 5Y*
- 4.82%
- 10Y*
- 4.42%
BGX
- 1D
- 0.28%
- 1M
- 0.57%
- YTD
- -3.70%
- 6M
- -3.10%
- 1Y
- -3.44%
- 3Y*
- 9.16%
- 5Y*
- 2.85%
- 10Y*
- 6.63%
BXMIX vs. BGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BXMIX Blackstone Alternative Multi-Strategy Fund | 4.38% | 10.45% | 7.45% | 7.92% | -4.62% | 5.27% | -1.10% | 6.78% | -1.51% | 7.20% |
BGX Blackstone Long-Short Credit Income Fund | -3.70% | 2.09% | 19.83% | 18.92% | -20.57% | 17.54% | -5.67% | 24.98% | -4.19% | 7.28% |
Correlation
The correlation between BXMIX and BGX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.24 |
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Return for Risk
BXMIX vs. BGX — Risk / Return Rank
BXMIX
BGX
BXMIX vs. BGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackstone Alternative Multi-Strategy Fund (BXMIX) and Blackstone Long-Short Credit Income Fund (BGX). 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.
| BXMIX | BGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.11 | ||
| Sortino ratioReturn per unit of downside risk | +8.36 | ||
| Omega ratioGain probability vs. loss probability | 2.02 | 0.93 | +1.09 |
| Calmar ratioReturn relative to maximum drawdown | 10.51 | -0.28 | +10.79 |
| Martin ratioReturn relative to average drawdown | 41.80 | -0.56 | +42.36 |
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Drawdowns
BXMIX vs. BGX - Drawdown Comparison
The maximum BXMIX drawdown since its inception was -19.28%, smaller than the maximum BGX drawdown of -47.40%. Use the drawdown chart below to compare losses from any high point for BXMIX and BGX.
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Drawdown Indicators
| BXMIX | BGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.28% | -47.40% | +28.12% |
Max Drawdown (1Y)Largest decline over 1 year | -1.53% | -12.43% | +10.90% |
Max Drawdown (3Y)Largest decline over 3 years | -8.47% | -14.08% | +5.61% |
Max Drawdown (5Y)Largest decline over 5 years | -8.56% | -25.94% | +17.38% |
Max Drawdown (10Y)Largest decline over 10 years | -19.28% | -47.40% | +28.12% |
Current DrawdownCurrent decline from peak | -0.09% | -7.39% | +7.30% |
Average DrawdownAverage peak-to-trough decline | -2.50% | -6.99% | +4.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 6.19% | -5.82% |
Volatility
BXMIX vs. BGX - Volatility Comparison
Blackstone Alternative Multi-Strategy Fund (BXMIX) has a higher volatility of 1.47% compared to Blackstone Long-Short Credit Income Fund (BGX) at 0.98%. This indicates that BXMIX's price experiences larger fluctuations and is considered to be riskier than BGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BXMIX | BGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 0.98% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 5.88% | -3.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.45% | 7.92% | -4.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 11.77% | -5.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 17.52% | -12.26% |
BXMIX vs. BGX - Expense Ratio Comparison
BXMIX has a 2.33% expense ratio, which is higher than BGX's 1.46% expense ratio.
Dividends
BXMIX vs. BGX - Dividend Comparison
BXMIX's dividend yield for the trailing twelve months is around 7.43%, less than BGX's 9.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGX Blackstone Long-Short Credit Income Fund | 9.03% | 8.87% | 9.89% | 11.71% | 8.15% | 7.01% | 8.76% | 9.35% | 11.74% | 7.12% | 9.01% | 8.72% |
BXMIX Blackstone Alternative Multi-Strategy Fund | 7.43% | 7.75% | 5.75% | 3.48% | 0.00% | 1.68% | 3.12% | 3.67% | 1.91% | 2.00% | 0.45% | 2.52% |
Frequently Asked Questions
BXMIX and BGX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BXMIX has higher volatility (1.47%) compared to BGX (0.98%). In terms of maximum drawdown, BXMIX dropped -19.28% vs BGX's -47.40%.
BXMIX currently has the higher Sharpe Ratio (4.67 vs -0.44), 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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