HYT vs. ECAT
HYT (BlackRock Corporate High Yield Fund) and ECAT (BlackRock ESG Capital Allocation Term Trust) are both mutual funds - HYT is a High Yield Bonds fund actively managed by BlackRock, while ECAT is a Tactical Allocation fund managed by BlackRock. Over the past 3 years, HYT returned 8.07%/yr vs 19.54%/yr for ECAT. Their 0.50 correlation means they have sometimes moved together and sometimes differently. HYT charges 2.83%/yr vs 1.43%/yr for ECAT.
Performance
HYT vs. ECAT - Performance Comparison
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Returns By Period
In the year-to-date period, HYT achieves a 1.16% return, which is significantly lower than ECAT's 14.28% return.
HYT
- 1D
- 0.48%
- 1M
- -0.61%
- 6M
- 0.67%
- YTD
- 1.16%
- 1Y
- -4.44%
- 3Y*
- 8.07%
- 5Y*
- 1.88%
- 10Y*
- 6.82%
- ALL TIME*
- 7.63%
ECAT
- 1D
- 1.11%
- 1M
- -0.21%
- 6M
- 12.88%
- YTD
- 14.28%
- 1Y
- 17.14%
- 3Y*
- 19.54%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.16M | $7.51M | $7.67M | |
| $7.13M | $6.67M | $6.54M |
HYT vs. ECAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HYT BlackRock Corporate High Yield Fund | 1.16% | 0.06% | 14.43% | 19.92% | -22.58% | 3.51% |
ECAT BlackRock ESG Capital Allocation Term Trust | 14.28% | 16.64% | 19.96% | 32.36% | -21.90% | -6.25% |
Correlation
The correlation between HYT and ECAT is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.49 |
Correlation (3Y) Balances recent behavior with more history. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | 0.50 |
The correlation between HYT and ECAT has been stable across timeframes, ranging from 0.42 to 0.50 - a consistent structural relationship.
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Return for Risk
HYT vs. ECAT — Risk / Return Rank
HYT
ECAT
HYT vs. ECAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Corporate High Yield Fund (HYT) and BlackRock ESG Capital Allocation Term Trust (ECAT). 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.
| HYT | ECAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.66 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.21 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | 1.46 | -1.90 |
| Martin ratioReturn relative to average drawdown | -0.96 | 5.29 | -6.25 |
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Drawdowns
HYT vs. ECAT - Drawdown Comparison
The maximum HYT drawdown since its inception was -56.95%, which is greater than ECAT's maximum drawdown of -32.23%. Use the drawdown chart below to compare losses from any high point for HYT and ECAT.
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Drawdown Indicators
| HYT | ECAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.95% | -32.23% | -24.72% |
Max Drawdown (1Y)Largest decline over 1 year | -10.17% | -11.80% | +1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | -15.79% | +1.84% |
Max Drawdown (5Y)Largest decline over 5 years | -29.05% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.59% | — | — |
Current DrawdownCurrent decline from peak | -4.92% | -0.96% | -3.96% |
Average DrawdownAverage peak-to-trough decline | -5.90% | -8.84% | +2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.64% | 3.25% | +1.39% |
Volatility
HYT vs. ECAT - Volatility Comparison
The current volatility for BlackRock Corporate High Yield Fund (HYT) is 1.80%, while BlackRock ESG Capital Allocation Term Trust (ECAT) has a volatility of 4.24%. This indicates that HYT experiences smaller price fluctuations and is considered to be less risky than ECAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYT | ECAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | 4.24% | -2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 6.81% | 11.35% | -4.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.91% | 14.27% | -4.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.38% | 16.82% | -2.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 16.82% | +0.08% |
HYT vs. ECAT - Expense Ratio Comparison
HYT has a 2.83% expense ratio, which is higher than ECAT's 1.43% expense ratio.
Dividends
HYT vs. ECAT - Dividend Comparison
HYT's dividend yield for the trailing twelve months is around 11.08%, less than ECAT's 21.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECAT BlackRock ESG Capital Allocation Term Trust | 21.57% | 23.00% | 17.44% | 9.14% | 8.94% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYT BlackRock Corporate High Yield Fund | 11.08% | 10.50% | 9.53% | 9.91% | 9.80% | 7.58% | 8.18% | 7.92% | 9.20% | 7.68% | 8.23% | 10.18% |
Frequently Asked Questions
HYT and ECAT have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ECAT has higher volatility (4.24%) compared to HYT (1.80%). In terms of maximum drawdown, HYT dropped -56.95% vs ECAT's -32.23%.
ECAT currently has the higher Sharpe Ratio (1.21 vs -0.45), 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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