MUC vs. BDMIX
MUC (BlackRock MuniHoldings California Quality Fund) and BDMIX (BlackRock Global Long/Short Equity Fund Class I) are both mutual funds - MUC is a Municipal Bonds fund actively managed by BlackRock, while BDMIX is a Long-Short fund managed by BlackRock. Over the past 10 years, MUC returned 0.79%/yr vs 8.69%/yr for BDMIX. At a 0.04 correlation, their price movements are largely independent. MUC charges 2.14%/yr vs 1.57%/yr for BDMIX.
Performance
MUC vs. BDMIX - Performance Comparison
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Returns By Period
In the year-to-date period, MUC achieves a 5.84% return, which is significantly lower than BDMIX's 13.03% return. Over the past 10 years, MUC has underperformed BDMIX with an annualized return of 0.79%, while BDMIX has yielded a comparatively higher 8.69% annualized return.
MUC
- 1D
- 0.37%
- 1M
- 3.06%
- YTD
- 5.84%
- 6M
- 6.14%
- 1Y
- 12.82%
- 3Y*
- 5.94%
- 5Y*
- -2.30%
- 10Y*
- 0.79%
BDMIX
- 1D
- 0.06%
- 1M
- 3.45%
- YTD
- 13.03%
- 6M
- 12.49%
- 1Y
- 23.48%
- 3Y*
- 21.09%
- 5Y*
- 13.12%
- 10Y*
- 8.69%
MUC vs. BDMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUC BlackRock MuniHoldings California Quality Fund | 5.84% | 5.96% | 0.76% | 7.86% | -26.81% | 7.38% | 11.85% | 18.12% | -9.00% | 6.07% |
BDMIX BlackRock Global Long/Short Equity Fund Class I | 13.03% | 18.30% | 21.39% | 14.55% | 1.80% | 3.34% | 0.29% | -0.85% | 2.20% | 12.85% |
Correlation
The correlation between MUC and BDMIX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.04 |
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Return for Risk
MUC vs. BDMIX — Risk / Return Rank
MUC
BDMIX
MUC vs. BDMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniHoldings California Quality Fund (MUC) and BlackRock Global Long/Short Equity Fund Class I (BDMIX). 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.
| MUC | BDMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.65 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 7.45 | -5.48 |
| Martin ratioReturn relative to average drawdown | 8.00 | 21.18 | -13.19 |
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Drawdowns
MUC vs. BDMIX - Drawdown Comparison
The maximum MUC drawdown since its inception was -48.97%, which is greater than BDMIX's maximum drawdown of -11.89%. Use the drawdown chart below to compare losses from any high point for MUC and BDMIX.
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Drawdown Indicators
| MUC | BDMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.97% | -11.89% | -37.08% |
Max Drawdown (1Y)Largest decline over 1 year | -6.53% | -3.24% | -3.29% |
Max Drawdown (3Y)Largest decline over 3 years | -14.51% | -4.07% | -10.44% |
Max Drawdown (5Y)Largest decline over 5 years | -38.29% | -5.99% | -32.30% |
Max Drawdown (10Y)Largest decline over 10 years | -38.29% | -9.44% | -28.85% |
Current DrawdownCurrent decline from peak | -15.07% | -0.18% | -14.89% |
Average DrawdownAverage peak-to-trough decline | -9.91% | -2.67% | -7.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.14% | +0.47% |
Volatility
MUC vs. BDMIX - Volatility Comparison
The current volatility for BlackRock MuniHoldings California Quality Fund (MUC) is 2.16%, while BlackRock Global Long/Short Equity Fund Class I (BDMIX) has a volatility of 2.73%. This indicates that MUC experiences smaller price fluctuations and is considered to be less risky than BDMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUC | BDMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.16% | 2.73% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 6.35% | 4.79% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.18% | 7.09% | +1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.51% | 6.58% | +4.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.89% | 5.85% | +6.04% |
MUC vs. BDMIX - Expense Ratio Comparison
MUC has a 2.14% expense ratio, which is higher than BDMIX's 1.57% expense ratio.
Dividends
MUC vs. BDMIX - Dividend Comparison
MUC's dividend yield for the trailing twelve months is around 5.90%, less than BDMIX's 7.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDMIX BlackRock Global Long/Short Equity Fund Class I | 7.90% | 8.94% | 13.26% | 7.42% | 0.00% | 1.23% | 0.30% | 6.78% | 0.94% | 0.00% | 0.00% | 1.86% |
MUC BlackRock MuniHoldings California Quality Fund | 5.90% | 6.06% | 5.62% | 3.84% | 5.79% | 4.27% | 3.96% | 3.90% | 4.99% | 5.14% | 5.45% | 5.46% |
Frequently Asked Questions
MUC and BDMIX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDMIX has higher volatility (2.73%) compared to MUC (2.16%). In terms of maximum drawdown, MUC dropped -48.97% vs BDMIX's -11.89%.
BDMIX currently has the higher Sharpe Ratio (3.42 vs 1.57), 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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