CREDX vs. VPC
CREDX (BlackRock Credit Strategies Fund) and VPC (Virtus Private Credit ETF) are both funds - CREDX is a Bank Loan fund managed by BlackRock, while VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index. Over the past 5 years, CREDX returned 2.68%/yr vs 0.83%/yr for VPC. At a 0.33 correlation, their price movements are largely independent. CREDX charges 2.19%/yr vs 0.75%/yr for VPC.
Performance
CREDX vs. VPC - Performance Comparison
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Returns By Period
In the year-to-date period, CREDX achieves a 2.31% return, which is significantly higher than VPC's -10.57% return.
CREDX
- 1D
- 0.13%
- 1M
- 0.51%
- 6M
- 2.06%
- YTD
- 2.31%
- 1Y
- 4.63%
- 3Y*
- 7.59%
- 5Y*
- 2.68%
- 10Y*
- —
VPC
- 1D
- -0.57%
- 1M
- -1.11%
- 6M
- -11.86%
- YTD
- -10.57%
- 1Y
- -17.78%
- 3Y*
- 0.25%
- 5Y*
- 0.83%
- 10Y*
- —
CREDX vs. VPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CREDX BlackRock Credit Strategies Fund | 2.31% | 5.55% | 8.41% | 12.18% | -12.08% | 1.03% |
VPC Virtus Private Credit ETF | -10.57% | -6.75% | 10.52% | 22.20% | -11.70% | 34.18% |
Correlation
The correlation between CREDX and VPC is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021 | 0.33 |
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Return for Risk
CREDX vs. VPC — Risk / Return Rank
CREDX
VPC
CREDX vs. VPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Credit Strategies Fund (CREDX) and Virtus Private Credit ETF (VPC). 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.
| CREDX | VPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.81 | ||
| Sortino ratioReturn per unit of downside risk | +4.78 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 0.80 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | -0.78 | +4.37 |
| Martin ratioReturn relative to average drawdown | 9.70 | -1.38 | +11.08 |
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Drawdowns
CREDX vs. VPC - Drawdown Comparison
The maximum CREDX drawdown since its inception was -15.13%, smaller than the maximum VPC drawdown of -53.45%. Use the drawdown chart below to compare losses from any high point for CREDX and VPC.
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Drawdown Indicators
| CREDX | VPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.13% | -53.45% | +38.32% |
Max Drawdown (1Y)Largest decline over 1 year | -1.33% | -22.76% | +21.43% |
Max Drawdown (3Y)Largest decline over 3 years | -2.47% | -24.86% | +22.39% |
Max Drawdown (5Y)Largest decline over 5 years | -15.13% | -24.86% | +9.73% |
Current DrawdownCurrent decline from peak | 0.00% | -20.79% | +20.79% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -7.85% | +4.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 12.94% | -12.45% |
Volatility
CREDX vs. VPC - Volatility Comparison
The current volatility for BlackRock Credit Strategies Fund (CREDX) is 0.76%, while Virtus Private Credit ETF (VPC) has a volatility of 3.74%. This indicates that CREDX experiences smaller price fluctuations and is considered to be less risky than VPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CREDX | VPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 3.74% | -2.98% |
Volatility (6M)Calculated over the trailing 6-month period | 1.91% | 11.13% | -9.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.20% | 13.61% | -10.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.43% | 13.59% | -10.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.32% | 20.47% | -17.15% |
CREDX vs. VPC - Expense Ratio Comparison
CREDX has a 2.19% expense ratio, which is higher than VPC's 0.75% expense ratio.
Dividends
CREDX vs. VPC - Dividend Comparison
CREDX's dividend yield for the trailing twelve months is around 9.22%, less than VPC's 16.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CREDX BlackRock Credit Strategies Fund | 9.22% | 9.16% | 9.78% | 9.98% | 3.41% | 5.69% | 0.00% | 0.00% |
VPC Virtus Private Credit ETF | 16.29% | 14.33% | 11.26% | 11.71% | 10.74% | 6.31% | 10.06% | 8.19% |
Frequently Asked Questions
CREDX and VPC have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPC has higher volatility (3.74%) compared to CREDX (0.76%). In terms of maximum drawdown, CREDX dropped -15.13% vs VPC's -53.45%.
CREDX currently has the higher Sharpe Ratio (1.49 vs -1.31), 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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