MQY vs. WFSPX
MQY (BlackRock MuniYield Quality Fund) and WFSPX (iShares S&P 500 Index Fund) are both mutual funds - MQY is a Municipal Bonds fund actively managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. MQY is actively managed, while WFSPX is passively managed. Over the past 10 years, MQY returned 1.41%/yr vs 15.54%/yr for WFSPX. At a 0.12 correlation, their price movements are largely independent. MQY charges 2.07%/yr vs 0.03%/yr for WFSPX.
Performance
MQY vs. WFSPX - Performance Comparison
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Returns By Period
In the year-to-date period, MQY achieves a 3.28% return, which is significantly lower than WFSPX's 11.69% return. Over the past 10 years, MQY has underperformed WFSPX with an annualized return of 1.41%, while WFSPX has yielded a comparatively higher 15.54% annualized return.
MQY
- 1D
- -0.44%
- 1M
- 2.13%
- YTD
- 3.28%
- 6M
- 2.54%
- 1Y
- 9.97%
- 3Y*
- 6.08%
- 5Y*
- -1.93%
- 10Y*
- 1.41%
WFSPX
- 1D
- 0.13%
- 1M
- 5.80%
- YTD
- 11.69%
- 6M
- 11.72%
- 1Y
- 28.93%
- 3Y*
- 22.71%
- 5Y*
- 14.24%
- 10Y*
- 15.54%
MQY vs. WFSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MQY BlackRock MuniYield Quality Fund | 3.28% | 4.28% | -0.06% | 10.20% | -24.23% | 2.67% | 14.65% | 20.89% | -10.12% | 8.98% |
WFSPX iShares S&P 500 Index Fund | 11.69% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 31.45% | -4.83% | 21.27% |
Correlation
The correlation between MQY and WFSPX 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 | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 1994 | 0.12 |
The correlation between MQY and WFSPX shifts across timeframes, from 0.12 (all time) to 0.32 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MQY vs. WFSPX — Risk / Return Rank
MQY
WFSPX
MQY vs. WFSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Quality Fund (MQY) 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.
| MQY | WFSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.46 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 3.35 | -2.12 |
| Martin ratioReturn relative to average drawdown | 3.90 | 15.65 | -11.75 |
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
| MQY | WFSPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 2.52 | -1.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.16 | 0.85 | -1.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.11 | 0.87 | -0.76 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.13 | +0.22 |
Drawdowns
MQY vs. WFSPX - Drawdown Comparison
The maximum MQY drawdown since its inception was -41.67%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for MQY and WFSPX.
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Drawdown Indicators
| MQY | WFSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.67% | -58.21% | +16.54% |
Max Drawdown (1Y)Largest decline over 1 year | -8.13% | -8.90% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -17.03% | -18.74% | +1.71% |
Max Drawdown (5Y)Largest decline over 5 years | -35.44% | -24.51% | -10.93% |
Max Drawdown (10Y)Largest decline over 10 years | -35.97% | -33.74% | -2.23% |
Current DrawdownCurrent decline from peak | -14.02% | 0.00% | -14.02% |
Average DrawdownAverage peak-to-trough decline | -8.29% | -12.77% | +4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 1.90% | +0.66% |
Volatility
MQY vs. WFSPX - Volatility Comparison
BlackRock MuniYield Quality Fund (MQY) has a higher volatility of 3.57% compared to iShares S&P 500 Index Fund (WFSPX) at 2.82%. This indicates that MQY's price experiences larger fluctuations and is considered to be riskier 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
| MQY | WFSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 2.82% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 7.27% | 8.97% | -1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.22% | 11.85% | -2.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.18% | 16.88% | -4.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.04% | 18.02% | -4.98% |
MQY vs. WFSPX - Expense Ratio Comparison
MQY has a 2.07% expense ratio, which is higher than WFSPX's 0.03% expense ratio.
Dividends
MQY vs. WFSPX - Dividend Comparison
MQY's dividend yield for the trailing twelve months is around 6.12%, more than WFSPX's 1.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MQY BlackRock MuniYield Quality Fund | 6.12% | 6.16% | 6.04% | 4.46% | 5.87% | 4.93% | 4.21% | 4.00% | 5.24% | 5.67% | 6.10% | 6.06% |
WFSPX iShares S&P 500 Index Fund | 1.56% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Frequently Asked Questions
MQY and WFSPX 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.
MQY has higher volatility (3.57%) compared to WFSPX (2.82%). In terms of maximum drawdown, MQY dropped -41.67% vs WFSPX's -58.21%.
WFSPX currently has the higher Sharpe Ratio (2.52 vs 1.09), 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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