IDEF vs. BALI

Last updated Aug 2, 2026

IDEF (iShares Defense Industrials Active ETF) and BALI (Blackrock Advantage Large Cap Income ETF) are both exchange-traded funds - IDEF is a Aerospace & Defense fund actively managed by iShares, while BALI is a Derivative Income fund actively managed by BlackRock. Both are actively managed. Over the past year, IDEF returned 13.32% vs 23.42% for BALI. Their 0.59 correlation means they have sometimes moved together and sometimes differently. IDEF charges 0.55%/yr vs 0.35%/yr for BALI.

Performance

IDEF vs. BALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Defense Industrials Active ETF (IDEF) and Blackrock Advantage Large Cap Income ETF (BALI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDEF achieves a 5.28% return, which is significantly lower than BALI's 12.53% return.

IDEF

• 1D: 0.33%
• 1M: -1.85%
• 6M: -6.23%
• YTD: 5.28%
• 1Y: 13.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.90%

BALI

• 1D: 0.56%
• 1M: 1.43%
• 6M: 10.03%
• YTD: 12.53%
• 1Y: 23.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.30%

*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)
BALI Blackrock Advantage Large Cap Income ETF	$7.45M	$7.43M	$9.08M
IDEF iShares Defense Industrials Active ETF	$16.78M	$18.59M	$29.23M

IDEF vs. BALI - Yearly Performance Comparison

	2026 (YTD)	2025
IDEF iShares Defense Industrials Active ETF	5.28%	21.50%
BALI Blackrock Advantage Large Cap Income ETF	12.53%	14.37%

Correlation

The correlation between IDEF and BALI is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (All Time) Calculated using the full available price history since May 21, 2025	0.59

The correlation between IDEF and BALI has been stable across timeframes, ranging from 0.59 to 0.60 - a consistent structural relationship.

IDEF vs. BALI - Sectors Allocation Comparison

Sectors	IDEF	BALI
Industrials	84.4%	8.1%
Technology	12.9%	36.2%
Energy	0.9%	4.1%
Basic Materials	0.7%	1.4%
Utilities	0.3%	1.6%
Communication Services	0.1%	10.0%
Financial Services	0.1%	9.7%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	6.0%
Healthcare	-	10.6%
Real Estate	-	2.2%

Return for Risk

IDEF vs. BALI — Risk / Return Rank

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

IDEF

IDEF Risk / Return Rank: 24
IDEF Sharpe Ratio Rank: 25
IDEF Sortino Ratio Rank: 25
IDEF Omega Ratio Rank: 23
IDEF Calmar Ratio Rank: 26
IDEF Martin Ratio Rank: 23

BALI

BALI Risk / Return Rank: 87
BALI Sharpe Ratio Rank: 86
BALI Sortino Ratio Rank: 85
BALI Omega Ratio Rank: 86
BALI Calmar Ratio Rank: 85
BALI Martin Ratio Rank: 91

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.

IDEF vs. BALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Defense Industrials Active ETF (IDEF) and Blackrock Advantage Large Cap Income ETF (BALI). 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.

	IDEF	BALI	Difference
Sharpe ratio: Return per unit of total volatility	0.56	2.02	-1.46
Sortino ratio: Return per unit of downside risk	0.95	2.80	-1.85
Omega ratio: Gain probability vs. loss probability	1.11	1.37	-0.27
Calmar ratio: Return relative to maximum drawdown	0.80	3.23	-2.42
Martin ratio: Return relative to average drawdown	1.65	15.05	-13.40

IDEF vs. BALI - Sharpe Ratio Comparison

The current IDEF Sharpe Ratio is 0.56, which is lower than the BALI Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of IDEF and BALI, 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

IDEF vs. BALI - Drawdown Comparison

The maximum IDEF drawdown since its inception was -15.78%, smaller than the maximum BALI drawdown of -16.65%. Use the drawdown chart below to compare losses from any high point for IDEF and BALI.

Drawdown Indicators

	IDEF	BALI	Difference
Max Drawdown Largest peak-to-trough decline	-15.78%	-16.65%	+0.87%
Max Drawdown (1Y) Largest decline over 1 year	-15.78%	-6.71%	-9.07%
Current Drawdown Current decline from peak	-11.86%	0.00%	-11.86%
Average Drawdown Average peak-to-trough decline	-5.11%	-1.60%	-3.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.67%	1.44%	+6.23%

Volatility

IDEF vs. BALI - Volatility Comparison

iShares Defense Industrials Active ETF (IDEF) has a higher volatility of 7.10% compared to Blackrock Advantage Large Cap Income ETF (BALI) at 2.93%. This indicates that IDEF's price experiences larger fluctuations and is considered to be riskier than BALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDEF	BALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.10%	2.93%	+4.17%
Volatility (6M) Calculated over the trailing 6-month period	18.86%	8.42%	+10.44%
Volatility (1Y) Calculated over the trailing 1-year period	22.81%	10.73%	+12.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.65%	12.90%	+8.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.65%	12.90%	+8.75%

IDEF vs. BALI - Expense Ratio Comparison

IDEF has a 0.55% expense ratio, which is higher than BALI's 0.35% expense ratio.

Dividends

IDEF vs. BALI - Dividend Comparison

IDEF's dividend yield for the trailing twelve months is around 0.33%, less than BALI's 7.82% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.23%	8.51%	7.13%	2.13%
IDEF iShares Defense Industrials Active ETF	0.33%	0.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IDEF and BALI in my portfolio?

IDEF and BALI have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IDEF or BALI?

IDEF has higher volatility (7.10%) compared to BALI (2.93%). In terms of maximum drawdown, IDEF dropped -15.78% vs BALI's -16.65%.

Which ETF is better, IDEF or BALI?

On 1-year performance, BALI leads with 23.42% vs 13.32% for IDEF. On fees, BALI is cheaper at 0.35% per year. On volatility, BALI has been the lower-risk option at 2.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDEF or BALI?

Over the 1-year period, BALI has performed better with a 23.42% return vs 13.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDEF or BALI?

BALI is cheaper with a 0.35% expense ratio, compared with 0.55% for IDEF.

Which ETF pays a higher dividend yield, IDEF or BALI?

BALI has the higher dividend yield at 7.23%, compared with 0.33% for IDEF.

What is the main difference between IDEF and BALI?

IDEF is categorized as Aerospace & Defense, while BALI is Derivative Income. They also come from different issuers: iShares and BlackRock. Their fees differ too: 0.55% for IDEF and 0.35% for BALI.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.02 vs 0.56), 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.