BZQ vs. IYLD
BZQ (ProShares UltraShort MSCI Brazil Capped) and IYLD (iShares Morningstar Multi-Asset Income ETF) are both exchange-traded funds - BZQ is a Leveraged Equities fund tracking the MSCI Brazil 25-50 (-200%), while IYLD is a Diversified Portfolio fund tracking the Morningstar Multi-Asset High Income Index. Both are passively managed. Over the past 10 years, BZQ returned -35.44%/yr vs 3.78%/yr for IYLD. At a correlation of -0.54, they often move in opposite directions. BZQ charges 0.95%/yr vs 0.60%/yr for IYLD.
Performance
BZQ vs. IYLD - Performance Comparison
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Returns By Period
In the year-to-date period, BZQ achieves a -29.06% return, which is significantly lower than IYLD's 5.51% return. Over the past 10 years, BZQ has underperformed IYLD with an annualized return of -35.44%, while IYLD has yielded a comparatively higher 3.78% annualized return.
BZQ
- 1D
- -5.03%
- 1M
- -6.78%
- 6M
- -23.20%
- YTD
- -29.06%
- 1Y
- -51.33%
- 3Y*
- -23.76%
- 5Y*
- -25.00%
- 10Y*
- -35.44%
IYLD
- 1D
- 0.07%
- 1M
- 0.29%
- 6M
- 4.15%
- YTD
- 5.51%
- 1Y
- 12.62%
- 3Y*
- 10.14%
- 5Y*
- 3.25%
- 10Y*
- 3.78%
BZQ vs. IYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | -29.06% | -57.90% | 98.84% | -49.11% | -44.20% | 6.45% | -52.88% | -48.20% | -21.52% | -49.73% |
IYLD iShares Morningstar Multi-Asset Income ETF | 5.51% | 15.44% | 2.00% | 12.55% | -16.80% | 3.37% | -1.18% | 15.82% | -4.77% | 10.90% |
Correlation
The correlation between BZQ and IYLD is -0.74, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.55 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2012 | -0.54 |
The correlation between BZQ and IYLD shifts across timeframes, from -0.74 (1 year) to -0.54 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BZQ vs. IYLD — Risk / Return Rank
BZQ
IYLD
BZQ vs. IYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Brazil Capped (BZQ) and iShares Morningstar Multi-Asset Income ETF (IYLD). 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.
| BZQ | IYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.18 | ||
| Sortino ratioReturn per unit of downside risk | -4.82 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.41 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 2.68 | -3.46 |
| Martin ratioReturn relative to average drawdown | -1.18 | 10.49 | -11.67 |
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Drawdowns
BZQ vs. IYLD - Drawdown Comparison
The maximum BZQ drawdown since its inception was -99.82%, which is greater than IYLD's maximum drawdown of -30.23%. Use the drawdown chart below to compare losses from any high point for BZQ and IYLD.
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Drawdown Indicators
| BZQ | IYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.82% | -30.23% | -69.59% |
Max Drawdown (1Y)Largest decline over 1 year | -65.20% | -4.63% | -60.57% |
Max Drawdown (3Y)Largest decline over 3 years | -77.31% | -5.20% | -72.11% |
Max Drawdown (5Y)Largest decline over 5 years | -88.65% | -22.57% | -66.08% |
Max Drawdown (10Y)Largest decline over 10 years | -98.96% | -30.23% | -68.73% |
Current DrawdownCurrent decline from peak | -99.77% | -0.20% | -99.57% |
Average DrawdownAverage peak-to-trough decline | -84.60% | -4.50% | -80.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.94% | 1.18% | +41.76% |
Volatility
BZQ vs. IYLD - Volatility Comparison
ProShares UltraShort MSCI Brazil Capped (BZQ) has a higher volatility of 11.61% compared to iShares Morningstar Multi-Asset Income ETF (IYLD) at 1.32%. This indicates that BZQ's price experiences larger fluctuations and is considered to be riskier than IYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BZQ | IYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.61% | 1.32% | +10.29% |
Volatility (6M)Calculated over the trailing 6-month period | 39.56% | 4.78% | +34.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.77% | 5.76% | +44.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.13% | 7.87% | +47.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.56% | 9.54% | +57.02% |
BZQ vs. IYLD - Expense Ratio Comparison
BZQ has a 0.95% expense ratio, which is higher than IYLD's 0.60% expense ratio.
Dividends
BZQ vs. IYLD - Dividend Comparison
BZQ's dividend yield for the trailing twelve months is around 7.78%, more than IYLD's 4.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | 7.78% | 5.96% | 3.26% | 4.51% | 0.22% | 0.00% | 0.21% | 2.13% | 0.28% | 0.00% | 0.00% | 0.00% |
IYLD iShares Morningstar Multi-Asset Income ETF | 4.62% | 4.72% | 5.32% | 5.76% | 5.45% | 3.47% | 4.38% | 5.25% | 5.78% | 4.22% | 4.84% | 5.26% |
Frequently Asked Questions
BZQ and IYLD have a correlation of -0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BZQ has higher volatility (11.61%) compared to IYLD (1.32%). In terms of maximum drawdown, BZQ dropped -99.82% vs IYLD's -30.23%.
On 10-year performance, IYLD leads with 3.78% vs -35.44% for BZQ. On fees, IYLD is cheaper at 0.60% per year. On volatility, IYLD has been the lower-risk option at 1.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYLD has performed better with a 3.78% return vs -35.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYLD is cheaper with a 0.60% expense ratio, compared with 0.95% for BZQ.
BZQ has the higher dividend yield at 7.78%, compared with 4.62% for IYLD.
BZQ is categorized as Leveraged Equities, while IYLD is Diversified Portfolio. BZQ tracks MSCI Brazil 25-50 (-200%), while IYLD tracks Morningstar Multi-Asset High Income Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for BZQ and 0.60% for IYLD.
IYLD currently has the higher Sharpe Ratio (2.16 vs -1.02), 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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