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IVVW vs. BXMIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IVVW vs. BXMIX

Last updated Jun 5, 2026

IVVW (iShares S&P 500 BuyWrite ETF) and BXMIX (Blackstone Alternative Multi-Strategy Fund) are both funds - IVVW is a Derivative Income fund tracking the Cboe S&P 500 Enhanced 1% OTM BuyWrite Index, while BXMIX is a Multistrategy fund managed by Blackstone. Over the past year, IVVW returned 20.33% vs 12.18% for BXMIX. At a 0.36 correlation, their price movements are largely independent. IVVW charges 0.25%/yr vs 2.33%/yr for BXMIX.

Performance

IVVW vs. BXMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 BuyWrite ETF (IVVW) and Blackstone Alternative Multi-Strategy Fund (BXMIX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IVVW achieves a 5.13% return, which is significantly higher than BXMIX's 3.46% return.

IVVW

1D
0.27%
1M
1.98%
YTD
5.13%
6M
6.73%
1Y
20.33%
3Y*
—
5Y*
—
10Y*
—

BXMIX

1D
0.00%
1M
1.07%
YTD
3.46%
6M
4.69%
1Y
12.18%
3Y*
9.55%
5Y*
4.80%
10Y*
4.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IVVW vs. BXMIX - Yearly Performance Comparison

2026 (YTD)20252024
IVVW
iShares S&P 500 BuyWrite ETF		5.13%11.71%12.90%
BXMIX
Blackstone Alternative Multi-Strategy Fund		3.46%10.45%5.06%

Correlation

The correlation between IVVW and BXMIX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.41

Correlation (All Time)
Calculated using the full available price history since Mar 18, 2024

0.36

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P 500 BuyWrite ETF

Blackstone Alternative Multi-Strategy Fund

Often compared with IVVW:
IVVW vs. IVVIVVW vs. BALIIVVW vs. IWMWIVVW vs. SPYIVVW vs. VOOIVVW vs. IVWIVVW vs. SCHG
Often compared with BXMIX:
BXMIX vs. BIMBXBXMIX vs. SPYBXMIX vs. ORILXBXMIX vs. EXGBXMIX vs. MSFTBXMIX vs. BNDBXMIX vs. SCHD

Return for Risk

IVVW vs. BXMIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IVVW
IVVW Risk / Return Rank: 8585
Overall Rank
IVVW Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
IVVW Sortino Ratio Rank: 8686
Sortino Ratio Rank
IVVW Omega Ratio Rank: 9292
Omega Ratio Rank
IVVW Calmar Ratio Rank: 7272
Calmar Ratio Rank
IVVW Martin Ratio Rank: 8888
Martin Ratio Rank
BXMIX
BXMIX Risk / Return Rank: 9999
Overall Rank
BXMIX Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
BXMIX Sortino Ratio Rank: 9999
Sortino Ratio Rank
BXMIX Omega Ratio Rank: 9898
Omega Ratio Rank
BXMIX Calmar Ratio Rank: 9999
Calmar Ratio Rank
BXMIX Martin Ratio Rank: 9999
Martin Ratio Rank
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.

IVVW vs. BXMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 BuyWrite ETF (IVVW) and Blackstone Alternative Multi-Strategy Fund (BXMIX). 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.

IVVWBXMIXDifference
Sharpe ratioReturn per unit of total volatility
2.76
4.97

-2.21

Sortino ratioReturn per unit of downside risk
3.82
8.34

-4.52

Omega ratioGain probability vs. loss probability

1.62

2.09

-0.47

Calmar ratioReturn relative to maximum drawdown

3.51

10.20

-6.68

Martin ratioReturn relative to average drawdown

19.38

42.33

-22.95

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVVW vs. BXMIX - Sharpe Ratio Comparison

The current IVVW Sharpe Ratio is 2.76, which is lower than the BXMIX Sharpe Ratio of 4.97. The chart below compares the historical Sharpe Ratios of IVVW and BXMIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IVVWBXMIXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.76

4.97

-2.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.84

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.82

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.08

0.80

+0.28

Drawdowns

IVVW vs. BXMIX - Drawdown Comparison

The maximum IVVW drawdown since its inception was -16.79%, smaller than the maximum BXMIX drawdown of -19.28%. Use the drawdown chart below to compare losses from any high point for IVVW and BXMIX.

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Drawdown Indicators

IVVWBXMIXDifference

Max Drawdown

Largest peak-to-trough decline

-16.79%

-19.28%

+2.49%

Max Drawdown (1Y)

Largest decline over 1 year

-5.81%

-1.53%

-4.28%

Max Drawdown (3Y)

Largest decline over 3 years

—

-8.47%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-8.56%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-19.28%

—

Current Drawdown

Current decline from peak

0.00%

-0.18%

+0.18%

Average Drawdown

Average peak-to-trough decline

-1.75%

-2.51%

+0.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.05%

0.73%

+0.32%

Volatility

IVVW vs. BXMIX - Volatility Comparison

iShares S&P 500 BuyWrite ETF (IVVW) has a higher volatility of 1.14% compared to Blackstone Alternative Multi-Strategy Fund (BXMIX) at 0.85%. This indicates that IVVW's price experiences larger fluctuations and is considered to be riskier than BXMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IVVWBXMIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.14%

0.85%

+0.29%

Volatility (6M)

Calculated over the trailing 6-month period

6.07%

2.45%

+3.62%

Volatility (1Y)

Calculated over the trailing 1-year period

7.40%

3.15%

+4.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.65%

5.99%

+6.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.65%

5.25%

+7.40%

IVVW vs. BXMIX - Expense Ratio Comparison

IVVW has a 0.25% expense ratio, which is lower than BXMIX's 2.33% expense ratio.

Dividends

IVVW vs. BXMIX - Dividend Comparison

IVVW's dividend yield for the trailing twelve months is around 19.65%, more than BXMIX's 7.49% yield.

PositionTTM20252024202320222021202020192018201720162015
BXMIX
Blackstone Alternative Multi-Strategy Fund		7.49%7.75%5.75%3.48%0.00%1.68%3.12%3.67%1.91%2.00%0.45%2.52%
IVVW
iShares S&P 500 BuyWrite ETF		19.65%18.55%13.72%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IVVW and BXMIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IVVW has higher volatility (1.14%) compared to BXMIX (0.85%). In terms of maximum drawdown, IVVW dropped -16.79% vs BXMIX's -19.28%.

BXMIX currently has the higher Sharpe Ratio (4.97 vs 2.76), 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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