MUA vs. BDJ
MUA (BlackRock MuniAssets Fund) and BDJ (BlackRock Enhanced Equity Dividend Fund) are both mutual funds - MUA is a Municipal Bonds fund actively managed by BlackRock, while BDJ is a Derivative Income fund managed by BlackRock. Over the past 10 years, MUA returned 1.57%/yr vs 10.51%/yr for BDJ. At a 0.15 correlation, their price movements are largely independent. MUA charges 1.96%/yr vs 0.86%/yr for BDJ.
Performance
MUA vs. BDJ - Performance Comparison
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Returns By Period
In the year-to-date period, MUA achieves a 3.02% return, which is significantly higher than BDJ's 1.80% return. Over the past 10 years, MUA has underperformed BDJ with an annualized return of 1.57%, while BDJ has yielded a comparatively higher 10.51% annualized return.
MUA
- 1D
- 0.38%
- 1M
- 2.05%
- YTD
- 3.02%
- 6M
- 3.70%
- 1Y
- 11.66%
- 3Y*
- 7.55%
- 5Y*
- -3.38%
- 10Y*
- 1.57%
BDJ
- 1D
- -0.43%
- 1M
- 1.65%
- YTD
- 1.80%
- 6M
- 3.32%
- 1Y
- 18.77%
- 3Y*
- 14.29%
- 5Y*
- 7.74%
- 10Y*
- 10.51%
MUA vs. BDJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUA BlackRock MuniAssets Fund | 3.02% | 3.26% | 10.44% | 2.94% | -22.43% | 6.23% | 1.28% | 23.23% | -9.69% | 16.48% |
BDJ BlackRock Enhanced Equity Dividend Fund | 1.80% | 26.12% | 16.87% | -6.67% | 0.83% | 26.56% | -7.58% | 37.43% | -10.42% | 20.78% |
Correlation
The correlation between MUA and BDJ is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2005 | 0.15 |
The correlation between MUA and BDJ shifts across timeframes, from 0.15 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MUA vs. BDJ — Risk / Return Rank
MUA
BDJ
MUA vs. BDJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniAssets Fund (MUA) and BlackRock Enhanced Equity Dividend Fund (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.
| MUA | BDJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.27 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 1.54 | -0.38 |
| Martin ratioReturn relative to average drawdown | 2.20 | 5.59 | -3.39 |
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Drawdowns
MUA vs. BDJ - Drawdown Comparison
The maximum MUA drawdown since its inception was -43.03%, smaller than the maximum BDJ drawdown of -59.46%. Use the drawdown chart below to compare losses from any high point for MUA and BDJ.
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Drawdown Indicators
| MUA | BDJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.03% | -59.46% | +16.43% |
Max Drawdown (1Y)Largest decline over 1 year | -10.11% | -12.28% | +2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -20.01% | -15.70% | -4.31% |
Max Drawdown (5Y)Largest decline over 5 years | -42.31% | -21.39% | -20.92% |
Max Drawdown (10Y)Largest decline over 10 years | -43.03% | -48.14% | +5.11% |
Current DrawdownCurrent decline from peak | -17.92% | -1.80% | -16.12% |
Average DrawdownAverage peak-to-trough decline | -9.69% | -8.94% | -0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.32% | 3.37% | +1.95% |
Volatility
MUA vs. BDJ - Volatility Comparison
The current volatility for BlackRock MuniAssets Fund (MUA) is 1.91%, while BlackRock Enhanced Equity Dividend Fund (BDJ) has a volatility of 3.45%. This indicates that MUA experiences smaller price fluctuations and is considered to be less risky than BDJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUA | BDJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 3.45% | -1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 7.25% | 9.49% | -2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.29% | 12.18% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.75% | 16.11% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.38% | 18.41% | -2.03% |
MUA vs. BDJ - Expense Ratio Comparison
MUA has a 1.96% expense ratio, which is higher than BDJ's 0.86% expense ratio.
Dividends
MUA vs. BDJ - Dividend Comparison
MUA's dividend yield for the trailing twelve months is around 6.22%, less than BDJ's 9.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDJ BlackRock Enhanced Equity Dividend Fund | 9.23% | 9.03% | 8.21% | 9.49% | 12.18% | 5.95% | 7.08% | 6.66% | 7.21% | 6.07% | 6.88% | 7.36% |
MUA BlackRock MuniAssets Fund | 6.22% | 6.22% | 6.03% | 4.84% | 6.72% | 5.06% | 4.35% | 4.37% | 5.12% | 4.61% | 5.24% | 5.25% |
Frequently Asked Questions
MUA and BDJ have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDJ has higher volatility (3.45%) compared to MUA (1.91%). In terms of maximum drawdown, MUA dropped -43.03% vs BDJ's -59.46%.
BDJ currently has the higher Sharpe Ratio (1.55 vs 0.95), 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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