HYGW vs. MAGRX
HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) and MAGRX (BlackRock Natural Resources Trust Fund) are both funds - HYGW is a High Yield Bonds fund tracking the Cboe HYG BuyWrite Index, while MAGRX is a Energy Equities fund managed by BlackRock. Over the past 3 years, HYGW returned 5.88%/yr vs 11.68%/yr for MAGRX. At a 0.36 correlation, their price movements are largely independent. HYGW charges 0.69%/yr vs 0.87%/yr for MAGRX.
Performance
HYGW vs. MAGRX - Performance Comparison
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Returns By Period
In the year-to-date period, HYGW achieves a 2.21% return, which is significantly lower than MAGRX's 7.14% return.
HYGW
- 1D
- 0.03%
- 1M
- 0.69%
- YTD
- 2.21%
- 6M
- 2.31%
- 1Y
- 6.34%
- 3Y*
- 5.88%
- 5Y*
- —
- 10Y*
- —
MAGRX
- 1D
- -1.86%
- 1M
- -8.04%
- YTD
- 7.14%
- 6M
- 6.61%
- 1Y
- 28.46%
- 3Y*
- 11.68%
- 5Y*
- 9.83%
- 10Y*
- 8.95%
HYGW vs. MAGRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.21% | 6.19% | 6.99% | 7.31% | -0.39% |
MAGRX BlackRock Natural Resources Trust Fund | 7.14% | 30.26% | -5.65% | -1.36% | 8.63% |
Correlation
The correlation between HYGW and MAGRX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2022 | 0.36 |
The correlation between HYGW and MAGRX shifts across timeframes, from 0.24 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYGW vs. MAGRX — Risk / Return Rank
HYGW
MAGRX
HYGW vs. MAGRX - 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 Natural Resources Trust Fund (MAGRX). 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 | MAGRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.27 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 2.26 | +1.24 |
| Martin ratioReturn relative to average drawdown | 15.96 | 8.42 | +7.54 |
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Drawdowns
HYGW vs. MAGRX - Drawdown Comparison
The maximum HYGW drawdown since its inception was -5.49%, smaller than the maximum MAGRX drawdown of -65.68%. Use the drawdown chart below to compare losses from any high point for HYGW and MAGRX.
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Drawdown Indicators
| HYGW | MAGRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.49% | -65.68% | +60.19% |
Max Drawdown (1Y)Largest decline over 1 year | -1.82% | -12.20% | +10.38% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | -19.46% | +15.80% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.11% | — |
Current DrawdownCurrent decline from peak | -0.03% | -12.20% | +12.17% |
Average DrawdownAverage peak-to-trough decline | -0.60% | -15.91% | +15.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 3.27% | -2.87% |
Volatility
HYGW vs. MAGRX - Volatility Comparison
The current volatility for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) is 0.78%, while BlackRock Natural Resources Trust Fund (MAGRX) has a volatility of 5.85%. This indicates that HYGW experiences smaller price fluctuations and is considered to be less risky than MAGRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYGW | MAGRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 5.85% | -5.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.23% | 13.95% | -11.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.85% | 17.52% | -14.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.66% | 21.01% | -16.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.66% | 22.50% | -17.84% |
HYGW vs. MAGRX - Expense Ratio Comparison
HYGW has a 0.69% expense ratio, which is lower than MAGRX's 0.87% expense ratio.
Dividends
HYGW vs. MAGRX - Dividend Comparison
HYGW's dividend yield for the trailing twelve months is around 11.51%, more than MAGRX's 7.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 11.51% | 12.53% | 12.30% | 15.98% | 8.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MAGRX BlackRock Natural Resources Trust Fund | 7.88% | 8.44% | 3.32% | 4.16% | 10.86% | 3.90% | 2.07% | 2.97% | 20.12% | 49.72% | 0.87% | 8.29% |
Frequently Asked Questions
HYGW and MAGRX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAGRX has higher volatility (5.85%) compared to HYGW (0.78%). In terms of maximum drawdown, HYGW dropped -5.49% vs MAGRX's -65.68%.
HYGW currently has the higher Sharpe Ratio (2.23 vs 1.58), 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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