CII vs. TCBIX

Last updated Jun 3, 2026

CII (BlackRock Enhanced Large Cap Core Fund) and TCBIX (The Covered Bridge Fund) are both Derivative Income funds. Over the past 10 years, CII returned 15.39%/yr vs 7.93%/yr for TCBIX. A 0.62 correlation means they provide meaningful diversification when combined. CII charges 0.91%/yr vs 1.40%/yr for TCBIX.

Performance

CII vs. TCBIX - Performance Comparison

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

Returns By Period

In the year-to-date period, CII achieves a 12.40% return, which is significantly higher than TCBIX's 10.93% return. Over the past 10 years, CII has outperformed TCBIX with an annualized return of 15.39%, while TCBIX has yielded a comparatively lower 7.93% annualized return.

CII

• 1D: -0.78%
• 1M: 5.40%
• YTD: 12.40%
• 6M: 12.39%
• 1Y: 47.06%
• 3Y*: 24.31%
• 5Y*: 14.98%
• 10Y*: 15.39%

TCBIX

• 1D: 0.10%
• 1M: 2.62%
• YTD: 10.93%
• 6M: 11.87%
• 1Y: 22.84%
• 3Y*: 11.46%
• 5Y*: 6.53%
• 10Y*: 7.93%

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

CII vs. TCBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CII BlackRock Enhanced Large Cap Core Fund	12.40%	37.78%	12.70%	18.47%	-13.21%	34.26%	8.11%	30.46%	-8.60%	27.73%
TCBIX The Covered Bridge Fund	10.93%	12.61%	4.09%	4.09%	0.05%	18.21%	-1.71%	18.73%	-3.93%	9.66%

Correlation

The correlation between CII and TCBIX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Oct 4, 2013	0.62

Over the past year, the correlation between CII and TCBIX has dropped to 0.33 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

Return for Risk

CII vs. TCBIX — Risk / Return Rank

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

CII

CII Risk / Return Rank: 86
CII Sharpe Ratio Rank: 93
CII Sortino Ratio Rank: 86
CII Omega Ratio Rank: 81
CII Calmar Ratio Rank: 85
CII Martin Ratio Rank: 86

TCBIX

TCBIX Risk / Return Rank: 83
TCBIX Sharpe Ratio Rank: 83
TCBIX Sortino Ratio Rank: 85
TCBIX Omega Ratio Rank: 75
TCBIX Calmar Ratio Rank: 89
TCBIX Martin Ratio Rank: 81

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. TCBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Enhanced Large Cap Core Fund (CII) and The Covered Bridge Fund (TCBIX). 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.

	CII	TCBIX	Difference
Sharpe ratio Return per unit of total volatility	3.15	2.69	+0.46
Sortino ratio Return per unit of downside risk	4.12	4.05	+0.06
Omega ratio Gain probability vs. loss probability	1.54	1.49	+0.04
Calmar ratio Return relative to maximum drawdown	4.03	4.40	-0.36
Martin ratio Return relative to average drawdown	16.55	15.19	+1.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CII vs. TCBIX - Sharpe Ratio Comparison

The current CII Sharpe Ratio is 3.15, which is comparable to the TCBIX Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of CII and TCBIX, 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

	CII	TCBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.15	2.69	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.54	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.59	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.56	-0.03

Drawdowns

CII vs. TCBIX - Drawdown Comparison

The maximum CII drawdown since its inception was -56.43%, which is greater than TCBIX's maximum drawdown of -28.94%. Use the drawdown chart below to compare losses from any high point for CII and TCBIX.

Drawdown Indicators

	CII	TCBIX	Difference
Max Drawdown Largest peak-to-trough decline	-56.43%	-28.94%	-27.49%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-5.26%	-6.41%
Max Drawdown (3Y) Largest decline over 3 years	-21.05%	-12.73%	-8.32%
Max Drawdown (5Y) Largest decline over 5 years	-22.32%	-17.07%	-5.25%
Max Drawdown (10Y) Largest decline over 10 years	-40.56%	-28.94%	-11.62%
Current Drawdown Current decline from peak	-2.26%	0.00%	-2.26%
Average Drawdown Average peak-to-trough decline	-6.18%	-3.48%	-2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	1.52%	+1.32%

Volatility

CII vs. TCBIX - Volatility Comparison

BlackRock Enhanced Large Cap Core Fund (CII) has a higher volatility of 4.44% compared to The Covered Bridge Fund (TCBIX) at 2.29%. This indicates that CII's price experiences larger fluctuations and is considered to be riskier than TCBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CII	TCBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	2.29%	+2.15%
Volatility (6M) Calculated over the trailing 6-month period	11.90%	5.92%	+5.98%
Volatility (1Y) Calculated over the trailing 1-year period	15.01%	8.66%	+6.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.11%	12.16%	+4.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.52%	13.55%	+4.97%

CII vs. TCBIX - Expense Ratio Comparison

CII has a 0.91% expense ratio, which is lower than TCBIX's 1.40% expense ratio.

Dividends

CII vs. TCBIX - Dividend Comparison

CII's dividend yield for the trailing twelve months is around 15.27%, more than TCBIX's 7.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CII BlackRock Enhanced Large Cap Core Fund	15.27%	16.65%	6.15%	6.28%	12.27%	4.98%	6.03%	5.79%	7.06%	6.07%	8.38%	8.49%
TCBIX The Covered Bridge Fund	7.98%	8.24%	7.47%	7.34%	8.09%	6.00%	4.70%	6.77%	11.55%	7.32%	7.32%	5.36%

Frequently Asked Questions

Can I hold both CII and TCBIX in my portfolio?

CII and TCBIX have a correlation of 0.33, 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 TCBIX?

CII has higher volatility (4.44%) compared to TCBIX (2.29%). In terms of maximum drawdown, CII dropped -56.43% vs TCBIX's -28.94%.

Which has better risk-adjusted returns?

CII currently has the higher Sharpe Ratio (3.15 vs 2.69), 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.