CII vs. MOAT

Last updated Jun 13, 2026

CII (BlackRock Enhanced Large Cap Core Fund) and MOAT (VanEck Morningstar Wide Moat ETF) are both funds - CII is a Derivative Income fund actively managed by BlackRock, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. CII is actively managed, while MOAT is passively managed. Over the past 10 years, CII returned 14.94%/yr vs 13.47%/yr for MOAT. A 0.68 correlation means they provide meaningful diversification when combined. CII charges 0.91%/yr vs 0.47%/yr for MOAT.

Performance

CII vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Enhanced Large Cap Core Fund (CII) and VanEck Morningstar Wide Moat ETF (MOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CII achieves a 7.72% return, which is significantly higher than MOAT's -0.66% return. Over the past 10 years, CII has outperformed MOAT with an annualized return of 14.94%, while MOAT has yielded a comparatively lower 13.47% annualized return.

CII

• 1D: 0.58%
• 1M: -1.09%
• YTD: 7.72%
• 6M: 10.66%
• 1Y: 39.37%
• 3Y*: 20.94%
• 5Y*: 13.51%
• 10Y*: 14.94%

MOAT

• 1D: 0.41%
• 1M: 3.19%
• YTD: -0.66%
• 6M: -1.22%
• 1Y: 14.57%
• 3Y*: 10.55%
• 5Y*: 7.78%
• 10Y*: 13.47%

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

CII vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CII BlackRock Enhanced Large Cap Core Fund	7.72%	37.78%	12.70%	18.47%	-13.21%	34.26%	8.11%	30.46%	-8.60%	27.73%
MOAT VanEck Morningstar Wide Moat ETF	-0.66%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%

Correlation

The correlation between CII and MOAT is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Apr 25, 2012	0.68

Over the past year, the correlation between CII and MOAT has dropped to 0.41 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

CII vs. MOAT — Risk / Return Rank

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

CII

CII Risk / Return Rank: 84
CII Sharpe Ratio Rank: 89
CII Sortino Ratio Rank: 83
CII Omega Ratio Rank: 80
CII Calmar Ratio Rank: 84
CII Martin Ratio Rank: 84

MOAT

MOAT Risk / Return Rank: 26
MOAT Sharpe Ratio Rank: 28
MOAT Sortino Ratio Rank: 28
MOAT Omega Ratio Rank: 26
MOAT Calmar Ratio Rank: 24
MOAT Martin Ratio Rank: 26

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.

CII vs. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Enhanced Large Cap Core Fund (CII) and VanEck Morningstar Wide Moat ETF (MOAT). 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.

	CII	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	2.52	0.91	+1.62
Sortino ratio: Return per unit of downside risk	3.34	1.39	+1.95
Omega ratio: Gain probability vs. loss probability	1.43	1.16	+0.27
Calmar ratio: Return relative to maximum drawdown	3.33	1.02	+2.32
Martin ratio: Return relative to average drawdown	12.71	3.11	+9.60

CII vs. MOAT - Sharpe Ratio Comparison

The current CII Sharpe Ratio is 2.52, which is higher than the MOAT Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of CII and MOAT, 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

CII vs. MOAT - Drawdown Comparison

The maximum CII drawdown since its inception was -56.43%, which is greater than MOAT's maximum drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for CII and MOAT.

Drawdown Indicators

	CII	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-56.43%	-33.31%	-23.12%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-12.43%	+0.76%
Max Drawdown (3Y) Largest decline over 3 years	-21.05%	-21.44%	+0.39%
Max Drawdown (5Y) Largest decline over 5 years	-22.32%	-23.96%	+1.64%
Max Drawdown (10Y) Largest decline over 10 years	-40.56%	-33.31%	-7.25%
Current Drawdown Current decline from peak	-6.33%	-4.45%	-1.88%
Average Drawdown Average peak-to-trough decline	-6.17%	-3.83%	-2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	4.06%	-1.01%

Volatility

CII vs. MOAT - Volatility Comparison

BlackRock Enhanced Large Cap Core Fund (CII) has a higher volatility of 5.22% compared to VanEck Morningstar Wide Moat ETF (MOAT) at 4.13%. This indicates that CII's price experiences larger fluctuations and is considered to be riskier than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CII	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	4.13%	+1.09%
Volatility (6M) Calculated over the trailing 6-month period	12.09%	9.90%	+2.19%
Volatility (1Y) Calculated over the trailing 1-year period	15.40%	13.93%	+1.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.16%	18.20%	-1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.54%	18.68%	-0.14%

CII vs. MOAT - Expense Ratio Comparison

CII has a 0.91% expense ratio, which is higher than MOAT's 0.47% expense ratio.

Dividends

CII vs. MOAT - Dividend Comparison

CII's dividend yield for the trailing twelve months is around 15.93%, more than MOAT's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CII BlackRock Enhanced Large Cap Core Fund	15.35%	16.65%	6.15%	6.28%	12.27%	4.98%	6.03%	5.79%	7.06%	6.07%	8.38%	8.49%
MOAT VanEck Morningstar Wide Moat ETF	1.36%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Frequently Asked Questions

Can I hold both CII and MOAT in my portfolio?

CII and MOAT have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CII or MOAT?

CII has higher volatility (5.22%) compared to MOAT (4.13%). In terms of maximum drawdown, CII dropped -56.43% vs MOAT's -33.31%.

Which has better risk-adjusted returns?

CII currently has the higher Sharpe Ratio (2.52 vs 0.91), 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.