ECAT vs. BGT

Last updated Aug 1, 2026

ECAT (BlackRock ESG Capital Allocation Term Trust) and BGT (BlackRock Floating Rate Income Trust) are both mutual funds - ECAT is a Tactical Allocation fund managed by BlackRock, while BGT is a Bank Loan fund managed by BlackRock. Over the past 3 years, ECAT returned 17.59%/yr vs 8.77%/yr for BGT. Their 0.36 correlation means their historical movements had little consistent relationship. ECAT charges 1.43%/yr vs 1.74%/yr for BGT.

Performance

ECAT vs. BGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock ESG Capital Allocation Term Trust (ECAT) and BlackRock Floating Rate Income Trust (BGT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ECAT achieves a 10.45% return, which is significantly higher than BGT's 3.20% return.

ECAT

• 1D: -0.47%
• 1M: -3.56%
• 6M: 8.10%
• YTD: 10.45%
• 1Y: 14.04%
• 3Y*: 17.59%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.71%

BGT

• 1D: 0.74%
• 1M: 2.93%
• 6M: 1.06%
• YTD: 3.20%
• 1Y: -3.09%
• 3Y*: 8.77%
• 5Y*: 6.83%
• 10Y*: 6.51%
• ALL TIME*: 5.40%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BGT BlackRock Floating Rate Income Trust	$1.59M	$1.30M	$1.18M
ECAT BlackRock ESG Capital Allocation Term Trust	$7.46M	$7.38M	$7.72M

ECAT vs. BGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ECAT BlackRock ESG Capital Allocation Term Trust	10.45%	16.64%	19.96%	32.36%	-21.90%	-6.25%
BGT BlackRock Floating Rate Income Trust	3.20%	-0.84%	16.12%	26.29%	-16.57%	8.30%

Correlation

The correlation between ECAT and BGT is 0.31, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.31
Correlation (3Y) Balances recent behavior with more history.	0.30
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021	0.36

Return for Risk

ECAT vs. BGT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ECAT

ECAT Risk / Return Rank: 29
ECAT Sharpe Ratio Rank: 31
ECAT Sortino Ratio Rank: 30
ECAT Omega Ratio Rank: 30
ECAT Calmar Ratio Rank: 27
ECAT Martin Ratio Rank: 30

BGT

BGT Risk / Return Rank: 2
BGT Sharpe Ratio Rank: 2
BGT Sortino Ratio Rank: 2
BGT Omega Ratio Rank: 2
BGT Calmar Ratio Rank: 3
BGT Martin Ratio Rank: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ECAT vs. BGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock ESG Capital Allocation Term Trust (ECAT) and BlackRock Floating Rate Income Trust (BGT). 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	BGT	Difference
Sharpe ratio: Return per unit of total volatility	0.97	-0.28	+1.25
Sortino ratio: Return per unit of downside risk	1.42	-0.33	+1.75
Omega ratio: Gain probability vs. loss probability	1.17	0.96	+0.21
Calmar ratio: Return relative to maximum drawdown	1.16	-0.25	+1.41
Martin ratio: Return relative to average drawdown	4.22	-0.52	+4.73

ECAT vs. BGT - Sharpe Ratio Comparison

The current ECAT Sharpe Ratio is 0.97, which is higher than the BGT Sharpe Ratio of -0.28. The chart below compares the historical Sharpe Ratios of ECAT and BGT, 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

ECAT vs. BGT - Drawdown Comparison

The maximum ECAT drawdown since its inception was -32.23%, smaller than the maximum BGT drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for ECAT and BGT.

Drawdown Indicators

	ECAT	BGT	Difference
Max Drawdown Largest peak-to-trough decline	-32.23%	-58.06%	+25.83%
Max Drawdown (1Y) Largest decline over 1 year	-11.80%	-11.06%	-0.74%
Max Drawdown (3Y) Largest decline over 3 years	-15.79%	-15.91%	+0.12%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.19%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.90%	—
Current Drawdown Current decline from peak	-4.28%	-3.09%	-1.19%
Average Drawdown Average peak-to-trough decline	-8.86%	-8.10%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	5.41%	-2.17%

Volatility

ECAT vs. BGT - Volatility Comparison

BlackRock ESG Capital Allocation Term Trust (ECAT) has a higher volatility of 3.75% compared to BlackRock Floating Rate Income Trust (BGT) at 3.08%. This indicates that ECAT's price experiences larger fluctuations and is considered to be riskier than BGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ECAT	BGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	3.08%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	11.27%	7.43%	+3.84%
Volatility (1Y) Calculated over the trailing 1-year period	14.17%	9.95%	+4.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.82%	13.60%	+3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.82%	15.35%	+1.47%

ECAT vs. BGT - Expense Ratio Comparison

ECAT has a 1.43% expense ratio, which is lower than BGT's 1.74% expense ratio.

Dividends

ECAT vs. BGT - Dividend Comparison

ECAT's dividend yield for the trailing twelve months is around 22.31%, more than BGT's 13.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGT BlackRock Floating Rate Income Trust	13.33%	12.74%	11.22%	10.36%	6.87%	5.55%	7.58%	6.33%	6.64%	5.03%	5.03%	6.04%
ECAT BlackRock ESG Capital Allocation Term Trust	22.31%	23.00%	17.44%	9.14%	8.94%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ECAT and BGT in my portfolio?

ECAT and BGT have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ECAT or BGT?

ECAT has higher volatility (3.75%) compared to BGT (3.08%). In terms of maximum drawdown, ECAT dropped -32.23% vs BGT's -58.06%.

Which has better risk-adjusted returns?

ECAT currently has the higher Sharpe Ratio (0.97 vs -0.28), 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.