IXC vs. BACAX
IXC (iShares Global Energy ETF) and BACAX (BlackRock Energy Opportunities Fund) are both Energy Equities funds. Over the past 10 years, IXC returned 9.38%/yr vs 7.95%/yr for BACAX. With a 0.95 correlation, they move nearly in lockstep. IXC charges 0.40%/yr vs 1.32%/yr for BACAX.
Performance
IXC vs. BACAX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IXC having a 22.29% return and BACAX slightly lower at 21.66%. Over the past 10 years, IXC has outperformed BACAX with an annualized return of 9.38%, while BACAX has yielded a comparatively lower 7.95% annualized return.
IXC
- 1D
- 0.44%
- 1M
- -8.68%
- YTD
- 22.29%
- 6M
- 23.05%
- 1Y
- 31.78%
- 3Y*
- 16.38%
- 5Y*
- 17.77%
- 10Y*
- 9.38%
BACAX
- 1D
- 1.37%
- 1M
- -7.68%
- YTD
- 21.66%
- 6M
- 22.28%
- 1Y
- 28.42%
- 3Y*
- 15.42%
- 5Y*
- 17.20%
- 10Y*
- 7.95%
IXC vs. BACAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IXC iShares Global Energy ETF | 22.29% | 13.98% | 1.95% | 3.92% | 48.51% | 40.88% | -31.00% | 12.67% | -14.85% | 5.54% |
BACAX BlackRock Energy Opportunities Fund | 21.66% | 10.53% | 3.78% | 2.61% | 43.02% | 42.93% | -29.68% | 12.64% | -19.98% | 2.07% |
Correlation
The correlation between IXC and BACAX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2005 | 0.95 |
The correlation between IXC and BACAX has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.
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Return for Risk
IXC vs. BACAX — Risk / Return Rank
IXC
BACAX
IXC vs. BACAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Energy ETF (IXC) and BlackRock Energy Opportunities Fund (BACAX). 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.
| IXC | BACAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.08 | +0.32 |
| Martin ratioReturn relative to average drawdown | 8.40 | 7.24 | +1.15 |
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Drawdowns
IXC vs. BACAX - Drawdown Comparison
The maximum IXC drawdown since its inception was -67.88%, smaller than the maximum BACAX drawdown of -78.88%. Use the drawdown chart below to compare losses from any high point for IXC and BACAX.
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Drawdown Indicators
| IXC | BACAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.88% | -78.88% | +11.00% |
Max Drawdown (1Y)Largest decline over 1 year | -13.31% | -12.36% | -0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -18.73% | -0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -24.93% | -25.74% | +0.81% |
Max Drawdown (10Y)Largest decline over 10 years | -64.16% | -65.92% | +1.76% |
Current DrawdownCurrent decline from peak | -11.99% | -11.16% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -17.46% | -34.21% | +16.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.80% | 3.58% | +0.22% |
Volatility
IXC vs. BACAX - Volatility Comparison
iShares Global Energy ETF (IXC) has a higher volatility of 6.54% compared to BlackRock Energy Opportunities Fund (BACAX) at 6.13%. This indicates that IXC's price experiences larger fluctuations and is considered to be riskier than BACAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IXC | BACAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.54% | 6.13% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 15.76% | 14.56% | +1.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.16% | 17.61% | +1.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.48% | 23.51% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.83% | 27.22% | -0.39% |
IXC vs. BACAX - Expense Ratio Comparison
IXC has a 0.40% expense ratio, which is lower than BACAX's 1.32% expense ratio.
Dividends
IXC vs. BACAX - Dividend Comparison
IXC's dividend yield for the trailing twelve months is around 3.11%, more than BACAX's 2.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BACAX BlackRock Energy Opportunities Fund | 2.03% | 2.47% | 2.29% | 3.06% | 2.21% | 2.39% | 3.38% | 2.69% | 2.87% | 2.48% | 1.95% | 1.98% |
IXC iShares Global Energy ETF | 3.11% | 3.68% | 4.56% | 3.45% | 4.76% | 3.98% | 4.86% | 7.00% | 3.51% | 3.05% | 2.86% | 3.77% |
Frequently Asked Questions
With a correlation of 0.98, IXC and BACAX 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.
IXC has higher volatility (6.54%) compared to BACAX (6.13%). In terms of maximum drawdown, IXC dropped -67.88% vs BACAX's -78.88%.
IXC currently has the higher Sharpe Ratio (1.68 vs 1.46), 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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