HTDIX vs. PBAIX

Last updated Jun 4, 2026

HTDIX (Tactical Dividend and Momentum Fund) and PBAIX (BlackRock Tactical Opportunities Fund Institutional Class) are both Tactical Allocation funds. Over the past 10 years, HTDIX returned 7.36%/yr vs 6.10%/yr for PBAIX. At a 0.19 correlation, their price movements are largely independent. HTDIX charges 1.40%/yr vs 0.77%/yr for PBAIX.

Performance

HTDIX vs. PBAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tactical Dividend and Momentum Fund (HTDIX) and BlackRock Tactical Opportunities Fund Institutional Class (PBAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HTDIX achieves a 8.49% return, which is significantly lower than PBAIX's 9.80% return. Over the past 10 years, HTDIX has outperformed PBAIX with an annualized return of 7.36%, while PBAIX has yielded a comparatively lower 6.10% annualized return.

HTDIX

• 1D: 0.31%
• 1M: 6.01%
• YTD: 8.49%
• 6M: 8.57%
• 1Y: 20.77%
• 3Y*: 16.56%
• 5Y*: 7.77%
• 10Y*: 7.36%

PBAIX

• 1D: -0.40%
• 1M: 0.93%
• YTD: 9.80%
• 6M: 10.64%
• 1Y: 12.87%
• 3Y*: 10.20%
• 5Y*: 7.19%
• 10Y*: 6.10%

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

HTDIX vs. PBAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HTDIX Tactical Dividend and Momentum Fund	8.49%	12.92%	18.32%	12.48%	-15.78%	17.64%	4.37%	14.00%	-5.63%	14.81%
PBAIX BlackRock Tactical Opportunities Fund Institutional Class	9.80%	6.46%	12.08%	2.64%	6.14%	0.50%	6.91%	1.65%	4.68%	8.05%

Correlation

The correlation between HTDIX and PBAIX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Sep 25, 2015	0.19

The correlation between HTDIX and PBAIX shifts across timeframes, from 0.07 (1 year) to 0.26 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

HTDIX vs. PBAIX — Risk / Return Rank

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

HTDIX

HTDIX Risk / Return Rank: 60
HTDIX Sharpe Ratio Rank: 53
HTDIX Sortino Ratio Rank: 47
HTDIX Omega Ratio Rank: 50
HTDIX Calmar Ratio Rank: 80
HTDIX Martin Ratio Rank: 69

PBAIX

PBAIX Risk / Return Rank: 66
PBAIX Sharpe Ratio Rank: 61
PBAIX Sortino Ratio Rank: 66
PBAIX Omega Ratio Rank: 64
PBAIX Calmar Ratio Rank: 88
PBAIX Martin Ratio Rank: 53

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.

HTDIX vs. PBAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tactical Dividend and Momentum Fund (HTDIX) and BlackRock Tactical Opportunities Fund Institutional Class (PBAIX). 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.

	HTDIX	PBAIX	Difference
Sharpe ratio Return per unit of total volatility	2.14	2.30	-0.16
Sortino ratio Return per unit of downside risk	2.88	3.41	-0.53
Omega ratio Gain probability vs. loss probability	1.39	1.45	-0.06
Calmar ratio Return relative to maximum drawdown	3.64	4.41	-0.76
Martin ratio Return relative to average drawdown	13.41	10.85	+2.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HTDIX vs. PBAIX - Sharpe Ratio Comparison

The current HTDIX Sharpe Ratio is 2.14, which is comparable to the PBAIX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of HTDIX and PBAIX, 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

	HTDIX	PBAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	2.30	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	1.12	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	1.00	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.58	-0.04

Drawdowns

HTDIX vs. PBAIX - Drawdown Comparison

The maximum HTDIX drawdown since its inception was -18.08%, smaller than the maximum PBAIX drawdown of -39.26%. Use the drawdown chart below to compare losses from any high point for HTDIX and PBAIX.

Drawdown Indicators

	HTDIX	PBAIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.08%	-39.26%	+21.18%
Max Drawdown (1Y) Largest decline over 1 year	-5.93%	-2.99%	-2.94%
Max Drawdown (3Y) Largest decline over 3 years	-18.08%	-6.79%	-11.29%
Max Drawdown (5Y) Largest decline over 5 years	-18.08%	-6.79%	-11.29%
Max Drawdown (10Y) Largest decline over 10 years	-18.08%	-8.94%	-9.14%
Current Drawdown Current decline from peak	0.00%	-0.46%	+0.46%
Average Drawdown Average peak-to-trough decline	-5.40%	-4.30%	-1.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	1.21%	+0.40%

Volatility

HTDIX vs. PBAIX - Volatility Comparison

Tactical Dividend and Momentum Fund (HTDIX) has a higher volatility of 2.52% compared to BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) at 1.71%. This indicates that HTDIX's price experiences larger fluctuations and is considered to be riskier than PBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HTDIX	PBAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	1.71%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	6.88%	4.79%	+2.09%
Volatility (1Y) Calculated over the trailing 1-year period	10.10%	5.75%	+4.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.38%	6.44%	+4.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.15%	6.13%	+6.02%

HTDIX vs. PBAIX - Expense Ratio Comparison

HTDIX has a 1.40% expense ratio, which is higher than PBAIX's 0.77% expense ratio.

Dividends

HTDIX vs. PBAIX - Dividend Comparison

Neither HTDIX nor PBAIX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HTDIX Tactical Dividend and Momentum Fund	0.00%	0.00%	0.00%	1.92%	0.00%	14.07%	0.00%	0.69%	0.36%	0.65%	1.29%	0.34%
PBAIX BlackRock Tactical Opportunities Fund Institutional Class	0.00%	0.00%	0.00%	11.84%	3.52%	0.00%	2.71%	3.39%	10.17%	0.86%	1.74%	5.15%

Frequently Asked Questions

Can I hold both HTDIX and PBAIX in my portfolio?

HTDIX and PBAIX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HTDIX or PBAIX?

HTDIX has higher volatility (2.52%) compared to PBAIX (1.71%). In terms of maximum drawdown, HTDIX dropped -18.08% vs PBAIX's -39.26%.

Which has better risk-adjusted returns?

PBAIX currently has the higher Sharpe Ratio (2.30 vs 2.14), 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.