BXSL vs. BCI

Last updated Aug 5, 2026

BXSL (Blackstone Secured Lending Fund) is a stock, while BCI (abrdn Bloomberg All Commodity Strategy K-1 Free ETF) is Commodities fund tracking the Bloomberg Commodity Index Total Return. Over the past 3 years, BXSL returned 5.19%/yr vs 11.28%/yr for BCI. Their 0.07 correlation means their historical movements had little consistent relationship.

Performance

BXSL vs. BCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackstone Secured Lending Fund (BXSL) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BXSL achieves a -3.65% return, which is significantly lower than BCI's 19.56% return.

BXSL

• 1D: 0.98%
• 1M: 0.04%
• 6M: 3.59%
• YTD: -3.65%
• 1Y: -13.46%
• 3Y*: 5.19%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.13%

BCI

• 1D: -1.48%
• 1M: 4.71%
• 6M: 10.25%
• YTD: 19.56%
• 1Y: 32.55%
• 3Y*: 11.28%
• 5Y*: 9.65%
• 10Y*: —
• ALL TIME*: 6.77%

*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)
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	$30.95M	$56.11M	$39.92M
BXSL Blackstone Secured Lending Fund	$38.69M	$37.65M	$42.77M

BXSL vs. BCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BXSL Blackstone Secured Lending Fund	-3.65%	-9.36%	29.02%	37.82%	-26.03%	32.04%
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	19.56%	15.07%	5.47%	-8.79%	15.09%	-5.04%

Correlation

The correlation between BXSL and BCI is -0.10, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.10
Correlation (3Y) Balances recent behavior with more history.	0.03
Correlation (All Time) Calculated using the full available price history since Oct 28, 2021	0.07

The correlation between BXSL and BCI shifts across timeframes, from -0.10 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BXSL vs. BCI — Risk / Return Rank

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

BXSL

BXSL Risk / Return Rank: 16
BXSL Sharpe Ratio Rank: 13
BXSL Sortino Ratio Rank: 13
BXSL Omega Ratio Rank: 15
BXSL Calmar Ratio Rank: 17
BXSL Martin Ratio Rank: 20

BCI

BCI Risk / Return Rank: 63
BCI Sharpe Ratio Rank: 72
BCI Sortino Ratio Rank: 65
BCI Omega Ratio Rank: 68
BCI Calmar Ratio Rank: 55
BCI Martin Ratio Rank: 53

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.

BXSL vs. BCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackstone Secured Lending Fund (BXSL) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI). 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.

	BXSL	BCI	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	1.85	-2.50
Sortino ratio: Return per unit of downside risk	-0.86	2.43	-3.28
Omega ratio: Gain probability vs. loss probability	0.91	1.32	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.67	2.21	-2.88
Martin ratio: Return relative to average drawdown	-0.98	6.98	-7.96

BXSL vs. BCI - Sharpe Ratio Comparison

The current BXSL Sharpe Ratio is -0.65, which is lower than the BCI Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of BXSL and BCI, 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

BXSL vs. BCI - Drawdown Comparison

The maximum BXSL drawdown since its inception was -36.80%, which is greater than BCI's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for BXSL and BCI.

Drawdown Indicators

	BXSL	BCI	Difference
Max Drawdown Largest peak-to-trough decline	-36.80%	-32.69%	-4.11%
Max Drawdown (1Y) Largest decline over 1 year	-20.06%	-14.82%	-5.24%
Max Drawdown (3Y) Largest decline over 3 years	-24.21%	-14.82%	-9.39%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.50%	—
Current Drawdown Current decline from peak	-18.21%	-9.88%	-8.33%
Average Drawdown Average peak-to-trough decline	-14.32%	-11.96%	-2.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.75%	4.68%	+9.07%

Volatility

BXSL vs. BCI - Volatility Comparison

Blackstone Secured Lending Fund (BXSL) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) have volatilities of 5.15% and 5.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BXSL	BCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.15%	5.18%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	16.14%	13.98%	+2.16%
Volatility (1Y) Calculated over the trailing 1-year period	20.83%	17.64%	+3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.71%	16.87%	+6.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.71%	15.68%	+8.03%

Dividends

BXSL vs. BCI - Dividend Comparison

BXSL's dividend yield for the trailing twelve months is around 12.95%, less than BCI's 13.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	13.79%	16.49%	3.29%	3.93%	19.98%	19.43%	0.68%	1.47%	1.13%	5.02%
BXSL Blackstone Secured Lending Fund	12.95%	11.70%	9.53%	10.64%	13.02%	1.56%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BXSL and BCI in my portfolio?

BXSL and BCI have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BXSL or BCI?

BCI has higher volatility (5.18%) compared to BXSL (5.15%). In terms of maximum drawdown, BXSL dropped -36.80% vs BCI's -32.69%.

Which has better risk-adjusted returns?

BCI currently has the higher Sharpe Ratio (1.85 vs -0.65), 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.