ECAT vs. BCAT
ECAT (BlackRock ESG Capital Allocation Term Trust) is Tactical Allocation fund managed by BlackRock, while BCAT (BlackRock Capital Allocation Term Trust) is a stock. Over the past 3 years, ECAT returned 19.58%/yr vs 21.85%/yr for BCAT. A 0.76 correlation means they provide meaningful diversification when combined.
Performance
ECAT vs. BCAT - Performance Comparison
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Returns By Period
In the year-to-date period, ECAT achieves a 12.06% return, which is significantly lower than BCAT's 23.90% return.
ECAT
- 1D
- 0.00%
- 1M
- 2.19%
- YTD
- 12.06%
- 6M
- 10.41%
- 1Y
- 22.26%
- 3Y*
- 19.58%
- 5Y*
- —
- 10Y*
- —
BCAT
- 1D
- -0.19%
- 1M
- 3.66%
- YTD
- 23.90%
- 6M
- 23.12%
- 1Y
- 32.64%
- 3Y*
- 21.85%
- 5Y*
- 8.60%
- 10Y*
- —
ECAT vs. BCAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ECAT BlackRock ESG Capital Allocation Term Trust | 12.06% | 16.64% | 19.96% | 32.36% | -21.90% | -6.25% |
BCAT BlackRock Capital Allocation Term Trust | 23.90% | 16.78% | 19.37% | 19.30% | -22.64% | -0.87% |
Correlation
The correlation between ECAT and BCAT is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | 0.76 |
The correlation between ECAT and BCAT has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.
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Return for Risk
ECAT vs. BCAT — Risk / Return Rank
ECAT
BCAT
ECAT vs. BCAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock ESG Capital Allocation Term Trust (ECAT) and BlackRock Capital Allocation Term Trust (BCAT). 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.
| ECAT | BCAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.50 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 4.11 | -2.22 |
| Martin ratioReturn relative to average drawdown | 7.04 | 19.31 | -12.27 |
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Drawdowns
ECAT vs. BCAT - Drawdown Comparison
The maximum ECAT drawdown since its inception was -32.23%, smaller than the maximum BCAT drawdown of -36.13%. Use the drawdown chart below to compare losses from any high point for ECAT and BCAT.
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Drawdown Indicators
| ECAT | BCAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.23% | -36.13% | +3.90% |
Max Drawdown (1Y)Largest decline over 1 year | -11.80% | -7.98% | -3.82% |
Max Drawdown (3Y)Largest decline over 3 years | -15.79% | -13.69% | -2.10% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.03% | — |
Current DrawdownCurrent decline from peak | -0.46% | -0.19% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -9.04% | -12.69% | +3.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 1.69% | +1.48% |
Volatility
ECAT vs. BCAT - Volatility Comparison
BlackRock ESG Capital Allocation Term Trust (ECAT) and BlackRock Capital Allocation Term Trust (BCAT) have volatilities of 4.36% and 4.25%, 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.
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Volatility by Period
| ECAT | BCAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 4.25% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 10.99% | 9.16% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.79% | 11.57% | +2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.89% | 15.26% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.89% | 15.92% | +0.97% |
Dividends
ECAT vs. BCAT - Dividend Comparison
ECAT's dividend yield for the trailing twelve months is around 21.78%, more than BCAT's 20.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BCAT BlackRock Capital Allocation Term Trust | 20.01% | 23.45% | 17.48% | 10.08% | 9.01% | 6.42% | 0.48% |
ECAT BlackRock ESG Capital Allocation Term Trust | 21.78% | 23.00% | 17.44% | 9.14% | 8.94% | 0.54% | 0.00% |
Frequently Asked Questions
ECAT and BCAT have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ECAT has higher volatility (4.36%) compared to BCAT (4.25%). In terms of maximum drawdown, ECAT dropped -32.23% vs BCAT's -36.13%.
BCAT currently has the higher Sharpe Ratio (2.84 vs 1.62), 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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