IRONX vs. BRHYX
IRONX (Ironclad Managed Risk Fund) and BRHYX (BlackRock High Yield K) are both mutual funds - IRONX is a Options Trading fund managed by BlackRock, while BRHYX is a High Yield Bonds fund managed by BlackRock. Over the past 10 years, IRONX returned 26.60%/yr vs 5.68%/yr for BRHYX. Their 0.42 correlation means their historical movements had little consistent relationship. IRONX charges 1.25%/yr vs 0.48%/yr for BRHYX.
Performance
IRONX vs. BRHYX - Performance Comparison
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Returns By Period
In the year-to-date period, IRONX achieves a 4.60% return, which is significantly higher than BRHYX's 1.22% return. Over the past 10 years, IRONX has outperformed BRHYX with an annualized return of 26.60%, while BRHYX has yielded a comparatively lower 5.68% annualized return.
IRONX
- 1D
- 0.50%
- 1M
- 0.21%
- 6M
- 3.15%
- YTD
- 4.60%
- 1Y
- 11.19%
- 3Y*
- 10.55%
- 5Y*
- 9.13%
- 10Y*
- 26.60%
- ALL TIME*
- 18.55%
BRHYX
- 1D
- 0.00%
- 1M
- -0.84%
- 6M
- 0.65%
- YTD
- 1.22%
- 1Y
- 5.26%
- 3Y*
- 8.65%
- 5Y*
- 4.12%
- 10Y*
- 5.68%
- ALL TIME*
- 6.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
IRONX vs. BRHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IRONX Ironclad Managed Risk Fund | 4.60% | 10.57% | 14.78% | 10.61% | 0.26% | 13.24% | 5.91% | 458.33% | 1.99% | 3.33% |
BRHYX BlackRock High Yield K | 1.22% | 9.44% | 8.65% | 13.26% | -11.18% | 5.47% | 5.98% | 15.65% | -2.67% | 8.34% |
Correlation
The correlation between IRONX and BRHYX is 0.63, 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. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2010 | 0.42 |
Over the past year, IRONX and BRHYX have become more correlated (0.63) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
IRONX vs. BRHYX — Risk / Return Rank
IRONX
BRHYX
IRONX vs. BRHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ironclad Managed Risk Fund (IRONX) and BlackRock High Yield K (BRHYX). 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.
| IRONX | BRHYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.31 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 2.08 | -0.42 |
| Martin ratioReturn relative to average drawdown | 5.92 | 9.74 | -3.82 |
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Drawdowns
IRONX vs. BRHYX - Drawdown Comparison
The maximum IRONX drawdown since its inception was -13.71%, smaller than the maximum BRHYX drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for IRONX and BRHYX.
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Drawdown Indicators
| IRONX | BRHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.71% | -34.77% | +21.06% |
Max Drawdown (1Y)Largest decline over 1 year | -5.99% | -2.40% | -3.59% |
Max Drawdown (3Y)Largest decline over 3 years | -11.68% | -4.07% | -7.61% |
Max Drawdown (5Y)Largest decline over 5 years | -11.68% | -15.29% | +3.61% |
Max Drawdown (10Y)Largest decline over 10 years | -13.71% | -23.20% | +9.49% |
Current DrawdownCurrent decline from peak | -0.84% | -0.98% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -1.77% | -2.72% | +0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 0.51% | +1.17% |
Volatility
IRONX vs. BRHYX - Volatility Comparison
Ironclad Managed Risk Fund (IRONX) has a higher volatility of 2.02% compared to BlackRock High Yield K (BRHYX) at 0.70%. This indicates that IRONX's price experiences larger fluctuations and is considered to be riskier than BRHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IRONX | BRHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.02% | 0.70% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 5.86% | 2.77% | +3.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.42% | 3.51% | +4.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.49% | 5.27% | +4.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.76% | 5.88% | +34.88% |
IRONX vs. BRHYX - Expense Ratio Comparison
IRONX has a 1.25% expense ratio, which is higher than BRHYX's 0.48% expense ratio.
Dividends
IRONX vs. BRHYX - Dividend Comparison
IRONX's dividend yield for the trailing twelve months is around 0.06%, less than BRHYX's 6.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRHYX BlackRock High Yield K | 6.62% | 7.14% | 7.56% | 6.20% | 4.98% | 4.80% | 5.22% | 5.82% | 6.48% | 5.92% | 6.03% | 6.42% |
IRONX Ironclad Managed Risk Fund | 0.06% | 0.06% | 0.19% | 5.17% | 2.97% | 13.84% | 4.16% | 121.75% | 8.85% | 9.93% | 1.42% | 0.38% |
Frequently Asked Questions
IRONX and BRHYX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IRONX has higher volatility (2.02%) compared to BRHYX (0.70%). In terms of maximum drawdown, IRONX dropped -13.71% vs BRHYX's -34.77%.
BRHYX currently has the higher Sharpe Ratio (1.44 vs 1.18), 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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