HYGW vs. BSIIX
HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) and BSIIX (BlackRock Strategic Income Opportunities Fund Class I) are both funds - HYGW is a High Yield Bonds fund tracking the Cboe HYG BuyWrite Index, while BSIIX is a Total Bond Market fund managed by BlackRock. Over the past 3 years, HYGW returned 5.70%/yr vs 6.84%/yr for BSIIX. At a 0.44 correlation, their price movements are largely independent. Both charge a 0.69% expense ratio.
Performance
HYGW vs. BSIIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HYGW achieves a 2.12% return, which is significantly higher than BSIIX's 2.00% return.
HYGW
- 1D
- 0.24%
- 1M
- 0.84%
- YTD
- 2.12%
- 6M
- 2.52%
- 1Y
- 6.56%
- 3Y*
- 5.70%
- 5Y*
- —
- 10Y*
- —
BSIIX
- 1D
- -0.10%
- 1M
- 1.23%
- YTD
- 2.00%
- 6M
- 2.57%
- 1Y
- 6.95%
- 3Y*
- 6.84%
- 5Y*
- 3.01%
- 10Y*
- 3.85%
HYGW vs. BSIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.12% | 6.19% | 6.99% | 7.31% | -0.39% |
BSIIX BlackRock Strategic Income Opportunities Fund Class I | 2.00% | 8.59% | 5.22% | 6.18% | -1.42% |
Correlation
The correlation between HYGW and BSIIX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2022 | 0.44 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HYGW vs. BSIIX — Risk / Return Rank
HYGW
BSIIX
HYGW vs. BSIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and BlackRock Strategic Income Opportunities Fund Class I (BSIIX). 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.
| HYGW | BSIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.50 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | 2.46 | +1.17 |
| Martin ratioReturn relative to average drawdown | 16.51 | 9.49 | +7.01 |
Loading charts...
Drawdowns
HYGW vs. BSIIX - Drawdown Comparison
The maximum HYGW drawdown since its inception was -5.49%, smaller than the maximum BSIIX drawdown of -18.76%. Use the drawdown chart below to compare losses from any high point for HYGW and BSIIX.
Loading charts...
Drawdown Indicators
| HYGW | BSIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.49% | -18.76% | +13.27% |
Max Drawdown (1Y)Largest decline over 1 year | -1.82% | -2.84% | +1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | -2.84% | -0.82% |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.91% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.31% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -0.60% | -1.80% | +1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.73% | -0.33% |
Volatility
HYGW vs. BSIIX - Volatility Comparison
iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and BlackRock Strategic Income Opportunities Fund Class I (BSIIX) have volatilities of 0.91% and 0.92%, 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.
Loading charts...
Volatility by Period
| HYGW | BSIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 0.92% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 2.37% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.87% | 2.96% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.67% | 3.65% | +1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 3.15% | +1.52% |
HYGW vs. BSIIX - Expense Ratio Comparison
Both HYGW and BSIIX have an expense ratio of 0.69%.
Dividends
HYGW vs. BSIIX - Dividend Comparison
HYGW's dividend yield for the trailing twelve months is around 11.52%, more than BSIIX's 5.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSIIX BlackRock Strategic Income Opportunities Fund Class I | 5.15% | 5.07% | 4.75% | 3.33% | 3.58% | 2.98% | 2.92% | 3.54% | 3.32% | 3.45% | 2.91% | 3.19% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 11.52% | 12.53% | 12.30% | 15.98% | 8.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYGW and BSIIX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSIIX has higher volatility (0.92%) compared to HYGW (0.91%). In terms of maximum drawdown, HYGW dropped -5.49% vs BSIIX's -18.76%.
BSIIX currently has the higher Sharpe Ratio (2.36 vs 2.31), 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.
Find the right allocation for HYGW and BSIIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer