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MFHQX vs. ^GSPC
Performance
Return for Risk
Drawdowns
Volatility

MFHQX vs. ^GSPC

Last updated Jun 3, 2026

MFHQX (BlackRock Total Return Fund) is Intermediate Core-Plus Bond fund managed by BlackRock, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, MFHQX returned 0.99%/yr vs 13.66%/yr for ^GSPC. At a correlation of -0.12, they often move in opposite directions.

Performance

MFHQX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Total Return Fund (MFHQX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MFHQX achieves a 0.20% return, which is significantly lower than ^GSPC's 10.35% return. Over the past 10 years, MFHQX has underperformed ^GSPC with an annualized return of 0.99%, while ^GSPC has yielded a comparatively higher 13.66% annualized return.

MFHQX

1D
-0.10%
1M
0.29%
YTD
0.20%
6M
0.31%
1Y
5.34%
3Y*
3.07%
5Y*
-0.85%
10Y*
0.99%

^GSPC

1D
-0.74%
1M
4.90%
YTD
10.35%
6M
10.28%
1Y
26.52%
3Y*
20.83%
5Y*
12.30%
10Y*
13.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MFHQX vs. ^GSPC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MFHQX
BlackRock Total Return Fund		0.20%7.16%0.09%4.60%-15.06%-1.65%7.85%8.74%-1.86%3.07%
^GSPC
S&P 500 Index		10.35%16.39%23.31%24.23%-19.44%26.89%16.26%28.88%-6.24%19.42%

Correlation

The correlation between MFHQX and ^GSPC is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.29

Correlation (3Y)
Calculated over the trailing 3-year period

0.24

Correlation (5Y)
Calculated over the trailing 5-year period

0.18

Correlation (10Y)
Calculated over the trailing 10-year period

0.05

Correlation (All Time)
Calculated using the full available price history since Jan 2, 2002

-0.12

The correlation between MFHQX and ^GSPC shifts across timeframes, from -0.12 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

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BlackRock Total Return Fund

S&P 500 Index

Often compared with MFHQX:
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Often compared with ^GSPC:
^GSPC vs. ^IBEX^GSPC vs. AVGO^GSPC vs. SCHD^GSPC vs. TSMU^GSPC vs. GC=F^GSPC vs. QQQ^GSPC vs. ACWI

Return for Risk

MFHQX vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MFHQX
MFHQX Risk / Return Rank: 1414
Overall Rank
MFHQX Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
MFHQX Sortino Ratio Rank: 1414
Sortino Ratio Rank
MFHQX Omega Ratio Rank: 1616
Omega Ratio Rank
MFHQX Calmar Ratio Rank: 1414
Calmar Ratio Rank
MFHQX Martin Ratio Rank: 1111
Martin Ratio Rank
^GSPC
^GSPC Risk / Return Rank: 7373
Overall Rank
^GSPC Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
^GSPC Sortino Ratio Rank: 7171
Sortino Ratio Rank
^GSPC Omega Ratio Rank: 7272
Omega Ratio Rank
^GSPC Calmar Ratio Rank: 6767
Calmar Ratio Rank
^GSPC Martin Ratio Rank: 8181
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.

MFHQX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Total Return Fund (MFHQX) and S&P 500 Index (^GSPC). 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.

MFHQX^GSPCDifference

Sharpe ratio

Return per unit of total volatility

1.13

2.24

-1.11

Sortino ratio

Return per unit of downside risk

1.56

3.07

-1.51

Omega ratio

Gain probability vs. loss probability

1.21

1.41

-0.19

Calmar ratio

Return relative to maximum drawdown

1.32

2.93

-1.61

Martin ratio

Return relative to average drawdown

3.49

13.52

-10.03

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

MFHQX vs. ^GSPC - Sharpe Ratio Comparison

The current MFHQX Sharpe Ratio is 1.13, which is lower than the ^GSPC Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of MFHQX and ^GSPC, 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

MFHQX^GSPCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.13

2.24

-1.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.14

0.73

-0.87

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.20

0.76

-0.56

Sharpe Ratio (All Time)

Calculated using the full available price history

0.41

0.47

-0.06

Drawdowns

MFHQX vs. ^GSPC - Drawdown Comparison

The maximum MFHQX drawdown since its inception was -20.45%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for MFHQX and ^GSPC.

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Drawdown Indicators

MFHQX^GSPCDifference

Max Drawdown

Largest peak-to-trough decline

-20.45%

-56.78%

+36.33%

Max Drawdown (1Y)

Largest decline over 1 year

-4.31%

-9.10%

+4.79%

Max Drawdown (3Y)

Largest decline over 3 years

-7.12%

-18.90%

+11.78%

Max Drawdown (5Y)

Largest decline over 5 years

-20.21%

-25.43%

+5.22%

Max Drawdown (10Y)

Largest decline over 10 years

-20.31%

-33.92%

+13.61%

Current Drawdown

Current decline from peak

-6.09%

-0.74%

-5.35%

Average Drawdown

Average peak-to-trough decline

-4.25%

-10.72%

+6.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.63%

1.97%

-0.34%

Volatility

MFHQX vs. ^GSPC - Volatility Comparison

The current volatility for BlackRock Total Return Fund (MFHQX) is 1.46%, while S&P 500 Index (^GSPC) has a volatility of 2.93%. This indicates that MFHQX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MFHQX^GSPCDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.46%

2.93%

-1.47%

Volatility (6M)

Calculated over the trailing 6-month period

3.52%

8.99%

-5.47%

Volatility (1Y)

Calculated over the trailing 1-year period

4.58%

11.89%

-7.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.25%

16.90%

-10.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.10%

18.06%

-12.96%

Frequently Asked Questions

MFHQX and ^GSPC have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

^GSPC has higher volatility (2.93%) compared to MFHQX (1.46%). In terms of maximum drawdown, MFHQX dropped -20.45% vs ^GSPC's -56.78%.

^GSPC currently has the higher Sharpe Ratio (2.24 vs 1.13), 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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