LIWKX vs. BDJ

Last updated Aug 1, 2026

LIWKX (BlackRock LifePath Index 2065 Fund Class K) and BDJ (BlackRock Enhanced Equity Dividend Trust) are both mutual funds - LIWKX is a Target Retirement Date fund tracking the BlackRock LifePath Index 2065 Custom Benchmark (USD), while BDJ is a Derivative Income fund actively managed by BlackRock. LIWKX is passively managed, while BDJ is actively managed. Over the past 5 years, LIWKX returned 9.88%/yr vs 8.67%/yr for BDJ. Their 0.72 correlation means they have sometimes moved together and sometimes differently. LIWKX charges 0.09%/yr vs 0.89%/yr for BDJ.

Performance

LIWKX vs. BDJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath Index 2065 Fund Class K (LIWKX) and BlackRock Enhanced Equity Dividend Trust (BDJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LIWKX achieves a 11.13% return, which is significantly higher than BDJ's 8.08% return.

LIWKX

• 1D: 2.02%
• 1M: -0.54%
• 6M: 7.75%
• YTD: 11.13%
• 1Y: 23.46%
• 3Y*: 16.98%
• 5Y*: 9.88%
• 10Y*: —
• ALL TIME*: 12.60%

BDJ

• 1D: 0.93%
• 1M: 2.00%
• 6M: 5.93%
• YTD: 8.08%
• 1Y: 23.35%
• 3Y*: 15.58%
• 5Y*: 8.67%
• 10Y*: 10.64%
• ALL TIME*: 6.88%

*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)
BDJ BlackRock Enhanced Equity Dividend Trust	$4.00M	$4.36M	$4.87M
LIWKX BlackRock LifePath Index 2065 Fund Class K	$0.00	$0.00	$0.00

LIWKX vs. BDJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LIWKX BlackRock LifePath Index 2065 Fund Class K	11.13%	21.71%	14.22%	21.64%	-18.33%	18.87%	15.47%	5.73%
BDJ BlackRock Enhanced Equity Dividend Trust	8.08%	26.12%	16.87%	-6.67%	0.83%	26.56%	-7.58%	8.34%

Correlation

The correlation between LIWKX and BDJ is 0.67, 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.	0.67
Correlation (3Y) Balances recent behavior with more history.	0.67
Correlation (5Y) Shows whether the relationship held over a longer period.	0.72
Correlation (All Time) Calculated using the full available price history since Oct 30, 2019	0.72

The correlation between LIWKX and BDJ has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

Return for Risk

LIWKX vs. BDJ — Risk / Return Rank

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

LIWKX

LIWKX Risk / Return Rank: 68
LIWKX Sharpe Ratio Rank: 67
LIWKX Sortino Ratio Rank: 64
LIWKX Omega Ratio Rank: 64
LIWKX Calmar Ratio Rank: 69
LIWKX Martin Ratio Rank: 78

BDJ

BDJ Risk / Return Rank: 64
BDJ Sharpe Ratio Rank: 77
BDJ Sortino Ratio Rank: 75
BDJ Omega Ratio Rank: 72
BDJ Calmar Ratio Rank: 48
BDJ Martin Ratio Rank: 47

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.

LIWKX vs. BDJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index 2065 Fund Class K (LIWKX) and BlackRock Enhanced Equity Dividend Trust (BDJ). 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.

	LIWKX	BDJ	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.77	-0.21
Sortino ratio: Return per unit of downside risk	2.20	2.51	-0.32
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.02
Calmar ratio: Return relative to maximum drawdown	2.26	1.76	+0.49
Martin ratio: Return relative to average drawdown	9.48	6.46	+3.02

LIWKX vs. BDJ - Sharpe Ratio Comparison

The current LIWKX Sharpe Ratio is 1.56, which is comparable to the BDJ Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of LIWKX and BDJ, 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

LIWKX vs. BDJ - Drawdown Comparison

The maximum LIWKX drawdown since its inception was -33.02%, smaller than the maximum BDJ drawdown of -59.46%. Use the drawdown chart below to compare losses from any high point for LIWKX and BDJ.

Drawdown Indicators

	LIWKX	BDJ	Difference
Max Drawdown Largest peak-to-trough decline	-33.02%	-59.46%	+26.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.54%	-12.28%	+2.74%
Max Drawdown (3Y) Largest decline over 3 years	-17.14%	-14.37%	-2.77%
Max Drawdown (5Y) Largest decline over 5 years	-26.41%	-21.39%	-5.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-48.14%	—
Current Drawdown Current decline from peak	-1.85%	0.00%	-1.85%
Average Drawdown Average peak-to-trough decline	-5.68%	-8.90%	+3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	3.35%	-1.08%

Volatility

LIWKX vs. BDJ - Volatility Comparison

BlackRock LifePath Index 2065 Fund Class K (LIWKX) has a higher volatility of 3.94% compared to BlackRock Enhanced Equity Dividend Trust (BDJ) at 3.15%. This indicates that LIWKX's price experiences larger fluctuations and is considered to be riskier than BDJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LIWKX	BDJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	3.15%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	11.61%	9.49%	+2.12%
Volatility (1Y) Calculated over the trailing 1-year period	13.83%	12.25%	+1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.08%	16.02%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.58%	18.40%	+0.18%

LIWKX vs. BDJ - Expense Ratio Comparison

LIWKX has a 0.09% expense ratio, which is lower than BDJ's 0.89% expense ratio.

Dividends

LIWKX vs. BDJ - Dividend Comparison

LIWKX's dividend yield for the trailing twelve months is around 1.63%, less than BDJ's 8.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BDJ BlackRock Enhanced Equity Dividend Trust	8.75%	9.03%	8.21%	9.49%	12.18%	5.95%	7.08%	6.66%	7.21%	6.07%	6.88%	7.36%
LIWKX BlackRock LifePath Index 2065 Fund Class K	1.63%	1.81%	0.00%	2.02%	1.80%	1.81%	1.32%	0.88%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LIWKX and BDJ in my portfolio?

LIWKX and BDJ have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LIWKX or BDJ?

LIWKX has higher volatility (3.94%) compared to BDJ (3.15%). In terms of maximum drawdown, LIWKX dropped -33.02% vs BDJ's -59.46%.

Which has better risk-adjusted returns?

BDJ currently has the higher Sharpe Ratio (1.77 vs 1.56), 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.