INRO vs. BALI

Last updated Jun 4, 2026

INRO (Blackrock U.S. Industry Rotation ETF) and BALI (Blackrock Advantage Large Cap Income ETF) are both exchange-traded funds - INRO is a Large Cap Blend Equities fund actively managed by BlackRock, while BALI is a Derivative Income fund actively managed by BlackRock. Both are actively managed. Over the past year, INRO returned 31.46% vs 26.38% for BALI. Their correlation of 0.94 suggests significant overlap in exposure. INRO charges 0.42%/yr vs 0.35%/yr for BALI.

Performance

INRO vs. BALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock U.S. Industry Rotation ETF (INRO) 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, INRO achieves a 13.22% return, which is significantly higher than BALI's 11.22% return.

INRO

• 1D: -0.65%
• 1M: 6.39%
• YTD: 13.22%
• 6M: 13.14%
• 1Y: 31.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BALI

• 1D: -0.41%
• 1M: 4.44%
• YTD: 11.22%
• 6M: 11.78%
• 1Y: 26.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

INRO vs. BALI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
INRO Blackrock U.S. Industry Rotation ETF	13.22%	16.67%	10.88%
BALI Blackrock Advantage Large Cap Income ETF	11.22%	14.51%	11.28%

Correlation

The correlation between INRO and BALI is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Apr 1, 2024	0.94

The correlation between INRO and BALI has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

INRO vs. BALI - Sectors Allocation Comparison

Sectors	INRO	BALI
Technology	38.4%	35.0%
Consumer Cyclical	11.3%	10.2%
Communication Services	10.4%	10.6%
Financial Services	10.1%	9.0%
Industrials	9.7%	8.0%
Healthcare	7.9%	9.4%
Consumer Defensive	6.4%	6.1%
Energy	3.7%	4.3%
Basic Materials	1.5%	1.4%
Real Estate	0.6%	0.9%
Utilities	0.0%	1.9%

Return for Risk

INRO vs. BALI — Risk / Return Rank

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

INRO

INRO Risk / Return Rank: 75
INRO Sharpe Ratio Rank: 76
INRO Sortino Ratio Rank: 75
INRO Omega Ratio Rank: 75
INRO Calmar Ratio Rank: 68
INRO Martin Ratio Rank: 80

BALI

BALI Risk / Return Rank: 82
BALI Sharpe Ratio Rank: 81
BALI Sortino Ratio Rank: 81
BALI Omega Ratio Rank: 81
BALI Calmar Ratio Rank: 77
BALI Martin Ratio Rank: 88

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.

INRO vs. BALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock U.S. Industry Rotation ETF (INRO) 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.

	INRO	BALI	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.67	-0.21
Sortino ratio: Return per unit of downside risk	3.36	3.72	-0.36
Omega ratio: Gain probability vs. loss probability	1.44	1.50	-0.06
Calmar ratio: Return relative to maximum drawdown	3.38	3.95	-0.57
Martin ratio: Return relative to average drawdown	15.71	19.71	-4.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INRO vs. BALI - Sharpe Ratio Comparison

The current INRO Sharpe Ratio is 2.47, which is comparable to the BALI Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of INRO 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.

Sharpe Ratios by Period

	INRO	BALI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.67	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	1.72	-0.59

Drawdowns

INRO vs. BALI - Drawdown Comparison

The maximum INRO drawdown since its inception was -20.02%, which is greater than BALI's maximum drawdown of -16.65%. Use the drawdown chart below to compare losses from any high point for INRO and BALI.

Drawdown Indicators

	INRO	BALI	Difference
Max Drawdown Largest peak-to-trough decline	-20.02%	-16.65%	-3.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-6.71%	-2.65%
Current Drawdown Current decline from peak	-0.65%	-0.41%	-0.24%
Average Drawdown Average peak-to-trough decline	-2.61%	-1.63%	-0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	1.34%	+0.67%

Volatility

INRO vs. BALI - Volatility Comparison

Blackrock U.S. Industry Rotation ETF (INRO) has a higher volatility of 3.69% compared to Blackrock Advantage Large Cap Income ETF (BALI) at 1.95%. This indicates that INRO'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

	INRO	BALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	1.95%	+1.74%
Volatility (6M) Calculated over the trailing 6-month period	9.95%	7.47%	+2.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.83%	9.91%	+2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.10%	12.93%	+4.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.10%	12.93%	+4.17%

INRO vs. BALI - Expense Ratio Comparison

INRO has a 0.42% expense ratio, which is higher than BALI's 0.35% expense ratio.

Dividends

INRO vs. BALI - Dividend Comparison

INRO's dividend yield for the trailing twelve months is around 0.65%, less than BALI's 7.66% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.66%	8.51%	7.13%	2.13%
INRO Blackrock U.S. Industry Rotation ETF	0.65%	0.68%	0.50%	0.00%

Frequently Asked Questions

Can I hold both INRO and BALI in my portfolio?

With a correlation of 0.93, INRO and BALI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, INRO or BALI?

INRO has higher volatility (3.69%) compared to BALI (1.95%). In terms of maximum drawdown, INRO dropped -20.02% vs BALI's -16.65%.

Which ETF is better, INRO or BALI?

On 1-year performance, INRO leads with 31.46% vs 26.38% for BALI. On fees, BALI is cheaper at 0.35% per year. On volatility, BALI has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INRO or BALI?

Over the 1-year period, INRO has performed better with a 31.46% return vs 26.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INRO or BALI?

BALI is cheaper with a 0.35% expense ratio, compared with 0.42% for INRO.

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

BALI has the higher dividend yield at 7.66%, compared with 0.65% for INRO.

What is the main difference between INRO and BALI?

INRO is categorized as Large Cap Blend Equities, while BALI is Derivative Income. Their fees differ too: 0.42% for INRO and 0.35% for BALI.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.67 vs 2.47), 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.