MMNIX vs. BGCKX
Compare and contrast key facts about Miller Market Neutral Income Fund Class I (MMNIX) and BlackRock Global Equity Market Neutral Fund Institutional Shares (BGCKX).
MMNIX is an actively managed fund by Miller. It was launched on Dec 29, 2023. BGCKX is an actively managed fund by BlackRock. It was launched on Jan 29, 2016.
Performance
MMNIX vs. BGCKX - Performance Comparison
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MMNIX vs. BGCKX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MMNIX Miller Market Neutral Income Fund Class I | 1.45% | 10.04% | 9.56% |
BGCKX BlackRock Global Equity Market Neutral Fund Institutional Shares | 3.62% | 18.38% | 21.84% |
Returns By Period
In the year-to-date period, MMNIX achieves a 1.45% return, which is significantly lower than BGCKX's 3.62% return.
MMNIX
- 1D
- 0.09%
- 1M
- -0.28%
- YTD
- 1.45%
- 6M
- 4.06%
- 1Y
- 8.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BGCKX
- 1D
- -0.46%
- 1M
- 0.93%
- YTD
- 3.62%
- 6M
- 6.66%
- 1Y
- 16.80%
- 3Y*
- 18.66%
- 5Y*
- 11.22%
- 10Y*
- 7.27%
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MMNIX vs. BGCKX - Expense Ratio Comparison
MMNIX has a 1.69% expense ratio, which is higher than BGCKX's 1.29% expense ratio.
Return for Risk
MMNIX vs. BGCKX — Risk / Return Rank
MMNIX
BGCKX
MMNIX vs. BGCKX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Miller Market Neutral Income Fund Class I (MMNIX) and BlackRock Global Equity Market Neutral Fund Institutional Shares (BGCKX). 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.
| MMNIX | BGCKX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 5.13 | 2.59 | +2.54 |
Sortino ratioReturn per unit of downside risk | 8.87 | 3.78 | +5.09 |
Omega ratioGain probability vs. loss probability | 2.36 | 1.48 | +0.88 |
Calmar ratioReturn relative to maximum drawdown | 19.17 | 5.07 | +14.09 |
Martin ratioReturn relative to average drawdown | 89.53 | 13.83 | +75.70 |
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
| MMNIX | BGCKX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.13 | 2.59 | +2.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.73 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.26 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 5.38 | 1.26 | +4.12 |
Correlation
The correlation between MMNIX and BGCKX is -0.17. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
MMNIX vs. BGCKX - Dividend Comparison
MMNIX's dividend yield for the trailing twelve months is around 4.85%, less than BGCKX's 8.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MMNIX Miller Market Neutral Income Fund Class I | 4.85% | 5.03% | 4.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BGCKX BlackRock Global Equity Market Neutral Fund Institutional Shares | 8.65% | 8.96% | 13.25% | 7.49% | 0.00% | 1.22% | 0.34% | 6.80% | 0.96% |
Drawdowns
MMNIX vs. BGCKX - Drawdown Comparison
The maximum MMNIX drawdown since its inception was -0.49%, smaller than the maximum BGCKX drawdown of -9.47%. Use the drawdown chart below to compare losses from any high point for MMNIX and BGCKX.
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Drawdown Indicators
| MMNIX | BGCKX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.49% | -9.47% | +8.98% |
Max Drawdown (1Y)Largest decline over 1 year | -0.46% | -3.51% | +3.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -7.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.47% | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.85% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -2.18% | +2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.10% | 1.29% | -1.19% |
Volatility
MMNIX vs. BGCKX - Volatility Comparison
The current volatility for Miller Market Neutral Income Fund Class I (MMNIX) is 0.46%, while BlackRock Global Equity Market Neutral Fund Institutional Shares (BGCKX) has a volatility of 1.59%. This indicates that MMNIX experiences smaller price fluctuations and is considered to be less risky than BGCKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMNIX | BGCKX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 1.59% | -1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 1.15% | 4.75% | -3.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.71% | 6.92% | -5.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.76% | 6.53% | -4.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.76% | 5.76% | -4.00% |