MIY vs. WFSPX
Compare and contrast key facts about BlackRock MuniYield Michigan Quality Fund (MIY) and iShares S&P 500 Index Fund (WFSPX).
MIY is an actively managed fund by BlackRock. It was launched on Oct 30, 1992. WFSPX is a passively managed fund by BlackRock that tracks the performance of the S&P 500 Index. It was launched on Jul 30, 1993.
Performance
MIY vs. WFSPX - Performance Comparison
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MIY vs. WFSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIY BlackRock MuniYield Michigan Quality Fund | 3.67% | 11.24% | 3.48% | 6.60% | -24.10% | 10.04% | 7.27% | 19.51% | -6.71% | 8.86% |
WFSPX iShares S&P 500 Index Fund | -4.63% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 31.45% | -4.83% | 21.27% |
Returns By Period
In the year-to-date period, MIY achieves a 3.67% return, which is significantly higher than WFSPX's -4.63% return. Over the past 10 years, MIY has underperformed WFSPX with an annualized return of 3.02%, while WFSPX has yielded a comparatively higher 13.92% annualized return.
MIY
- 1D
- 1.09%
- 1M
- -4.49%
- YTD
- 3.67%
- 6M
- 8.86%
- 1Y
- 10.42%
- 3Y*
- 7.67%
- 5Y*
- 0.23%
- 10Y*
- 3.02%
WFSPX
- 1D
- 2.62%
- 1M
- -5.31%
- YTD
- -4.63%
- 6M
- -2.47%
- 1Y
- 16.96%
- 3Y*
- 18.15%
- 5Y*
- 11.69%
- 10Y*
- 13.92%
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MIY vs. WFSPX - Expense Ratio Comparison
MIY has a 2.25% expense ratio, which is higher than WFSPX's 0.03% expense ratio.
Return for Risk
MIY vs. WFSPX — Risk / Return Rank
MIY
WFSPX
MIY vs. WFSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Michigan Quality Fund (MIY) and iShares S&P 500 Index Fund (WFSPX). 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.
| MIY | WFSPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.92 | 0.96 | -0.04 |
Sortino ratioReturn per unit of downside risk | 1.37 | 1.47 | -0.09 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.44 | 1.49 | -0.05 |
Martin ratioReturn relative to average drawdown | 3.89 | 7.15 | -3.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MIY | WFSPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 0.96 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.70 | -0.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.78 | -0.52 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.13 | +0.24 |
Correlation
The correlation between MIY and WFSPX is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
MIY vs. WFSPX - Dividend Comparison
MIY's dividend yield for the trailing twelve months is around 5.45%, more than WFSPX's 1.54% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIY BlackRock MuniYield Michigan Quality Fund | 5.45% | 5.57% | 5.21% | 3.86% | 5.70% | 4.38% | 4.23% | 4.27% | 5.27% | 5.46% | 5.85% | 5.66% |
WFSPX iShares S&P 500 Index Fund | 1.54% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Drawdowns
MIY vs. WFSPX - Drawdown Comparison
The maximum MIY drawdown since its inception was -42.19%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for MIY and WFSPX.
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Drawdown Indicators
| MIY | WFSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.19% | -58.21% | +16.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.12% | -12.11% | +3.99% |
Max Drawdown (5Y)Largest decline over 5 years | -34.59% | -24.51% | -10.08% |
Max Drawdown (10Y)Largest decline over 10 years | -34.59% | -33.74% | -0.85% |
Current DrawdownCurrent decline from peak | -5.68% | -6.51% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -8.33% | -12.84% | +4.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 2.53% | +0.48% |
Volatility
MIY vs. WFSPX - Volatility Comparison
The current volatility for BlackRock MuniYield Michigan Quality Fund (MIY) is 4.80%, while iShares S&P 500 Index Fund (WFSPX) has a volatility of 5.17%. This indicates that MIY experiences smaller price fluctuations and is considered to be less risky than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIY | WFSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 5.17% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 8.73% | 9.44% | -0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 18.21% | -6.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.43% | 16.88% | -5.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.83% | 18.00% | -6.17% |