MYI vs. BDJ
MYI (BlackRock MuniYield Quality Fund III) and BDJ (BlackRock Enhanced Equity Dividend Fund) are both mutual funds - MYI is a Municipal Bonds fund actively managed by BlackRock, while BDJ is a Derivative Income fund managed by BlackRock. Over the past 10 years, MYI returned 1.61%/yr vs 10.57%/yr for BDJ. At a 0.16 correlation, their price movements are largely independent. MYI charges 2.16%/yr vs 0.86%/yr for BDJ.
Performance
MYI vs. BDJ - Performance Comparison
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Returns By Period
In the year-to-date period, MYI achieves a 4.49% return, which is significantly higher than BDJ's 2.35% return. Over the past 10 years, MYI has underperformed BDJ with an annualized return of 1.61%, while BDJ has yielded a comparatively higher 10.57% annualized return.
MYI
- 1D
- -0.09%
- 1M
- 3.71%
- YTD
- 4.49%
- 6M
- 5.85%
- 1Y
- 12.52%
- 3Y*
- 6.76%
- 5Y*
- -0.55%
- 10Y*
- 1.61%
BDJ
- 1D
- 0.54%
- 1M
- 2.20%
- YTD
- 2.35%
- 6M
- 4.10%
- 1Y
- 18.03%
- 3Y*
- 14.49%
- 5Y*
- 7.77%
- 10Y*
- 10.57%
MYI vs. BDJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYI BlackRock MuniYield Quality Fund III | 4.49% | 4.74% | 0.55% | 8.79% | -20.52% | 6.99% | 11.60% | 16.64% | -8.42% | 7.13% |
BDJ BlackRock Enhanced Equity Dividend Fund | 2.35% | 26.12% | 16.87% | -6.67% | 0.83% | 26.56% | -7.58% | 37.43% | -10.42% | 20.78% |
Correlation
The correlation between MYI and BDJ is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2005 | 0.16 |
The correlation between MYI and BDJ shifts across timeframes, from 0.16 (all time) to 0.36 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MYI vs. BDJ — Risk / Return Rank
MYI
BDJ
MYI vs. BDJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Quality Fund III (MYI) 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.
| MYI | BDJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 1.47 | +0.18 |
| Martin ratioReturn relative to average drawdown | 6.05 | 5.37 | +0.68 |
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Drawdowns
MYI vs. BDJ - Drawdown Comparison
The maximum MYI drawdown since its inception was -43.90%, smaller than the maximum BDJ drawdown of -59.46%. Use the drawdown chart below to compare losses from any high point for MYI and BDJ.
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Drawdown Indicators
| MYI | BDJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.90% | -59.46% | +15.56% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -12.28% | +4.70% |
Max Drawdown (3Y)Largest decline over 3 years | -15.07% | -15.70% | +0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -31.84% | -21.39% | -10.45% |
Max Drawdown (10Y)Largest decline over 10 years | -31.84% | -48.14% | +16.30% |
Current DrawdownCurrent decline from peak | -5.68% | -1.27% | -4.41% |
Average DrawdownAverage peak-to-trough decline | -9.38% | -8.94% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 3.37% | -1.30% |
Volatility
MYI vs. BDJ - Volatility Comparison
The current volatility for BlackRock MuniYield Quality Fund III (MYI) is 2.96%, while BlackRock Enhanced Equity Dividend Fund (BDJ) has a volatility of 3.46%. This indicates that MYI 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
| MYI | BDJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.96% | 3.46% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 6.99% | 9.47% | -2.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.83% | 12.18% | -3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.00% | 16.11% | -5.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.39% | 18.41% | -7.02% |
MYI vs. BDJ - Expense Ratio Comparison
MYI has a 2.16% expense ratio, which is higher than BDJ's 0.86% expense ratio.
Dividends
MYI vs. BDJ - Dividend Comparison
MYI's dividend yield for the trailing twelve months is around 6.04%, less than BDJ's 9.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDJ BlackRock Enhanced Equity Dividend Fund | 9.18% | 9.03% | 8.21% | 9.49% | 12.18% | 5.95% | 7.08% | 6.66% | 7.21% | 6.07% | 6.88% | 7.36% |
MYI BlackRock MuniYield Quality Fund III | 6.04% | 6.13% | 6.03% | 4.30% | 5.22% | 4.17% | 3.84% | 3.89% | 5.01% | 5.88% | 6.20% | 6.03% |
Frequently Asked Questions
MYI and BDJ have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDJ has higher volatility (3.46%) compared to MYI (2.96%). In terms of maximum drawdown, MYI dropped -43.90% vs BDJ's -59.46%.
BDJ currently has the higher Sharpe Ratio (1.49 vs 1.42), 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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