QQQH vs. BIICX

Last updated Jul 15, 2026

QQQH (NEOS Nasdaq-100 Hedged Equity Income ETF) and BIICX (BlackRock Multi-Asset Income Portfolio) are both funds - QQQH is a Nasdaq-100 fund managed by Neos, while BIICX is a Diversified Portfolio fund managed by BlackRock. Over the past 5 years, QQQH returned 8.18%/yr vs 3.95%/yr for BIICX. A 0.61 correlation means they provide meaningful diversification when combined. QQQH charges 0.68%/yr vs 0.55%/yr for BIICX.

Performance

QQQH vs. BIICX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Nasdaq-100 Hedged Equity Income ETF (QQQH) and BlackRock Multi-Asset Income Portfolio (BIICX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQH achieves a 7.03% return, which is significantly higher than BIICX's 4.00% return.

QQQH

• 1D: 0.82%
• 1M: 0.93%
• 6M: 6.00%
• YTD: 7.03%
• 1Y: 15.06%
• 3Y*: 17.74%
• 5Y*: 8.18%
• 10Y*: —

BIICX

• 1D: -0.37%
• 1M: 0.33%
• 6M: 3.12%
• YTD: 4.00%
• 1Y: 9.49%
• 3Y*: 9.44%
• 5Y*: 3.95%
• 10Y*: 5.32%

*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQH vs. BIICX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QQQH NEOS Nasdaq-100 Hedged Equity Income ETF	7.03%	14.17%	25.98%	30.96%	-28.35%	9.76%	18.62%	0.47%
BIICX BlackRock Multi-Asset Income Portfolio	4.00%	11.80%	7.64%	9.46%	-12.29%	6.94%	6.61%	0.48%

Correlation

The correlation between QQQH and BIICX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Dec 20, 2019	0.61

The correlation between QQQH and BIICX has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.

Return for Risk

QQQH vs. BIICX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQQH

QQQH Risk / Return Rank: 52
QQQH Sharpe Ratio Rank: 49
QQQH Sortino Ratio Rank: 46
QQQH Omega Ratio Rank: 50
QQQH Calmar Ratio Rank: 54
QQQH Martin Ratio Rank: 63

BIICX

BIICX Risk / Return Rank: 57
BIICX Sharpe Ratio Rank: 62
BIICX Sortino Ratio Rank: 67
BIICX Omega Ratio Rank: 65
BIICX Calmar Ratio Rank: 41
BIICX Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QQQH vs. BIICX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Nasdaq-100 Hedged Equity Income ETF (QQQH) and BlackRock Multi-Asset Income Portfolio (BIICX). 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.

	QQQH	BIICX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.73	-0.35
Sortino ratio: Return per unit of downside risk	1.89	2.54	-0.65
Omega ratio: Gain probability vs. loss probability	1.26	1.33	-0.07
Calmar ratio: Return relative to maximum drawdown	2.17	1.93	+0.24
Martin ratio: Return relative to average drawdown	8.85	8.39	+0.47

QQQH vs. BIICX - Sharpe Ratio Comparison

The current QQQH Sharpe Ratio is 1.37, which is comparable to the BIICX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of QQQH and BIICX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QQQH vs. BIICX - Drawdown Comparison

The maximum QQQH drawdown since its inception was -31.24%, smaller than the maximum BIICX drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for QQQH and BIICX.

Drawdown Indicators

	QQQH	BIICX	Difference
Max Drawdown Largest peak-to-trough decline	-31.24%	-33.25%	+2.01%
Max Drawdown (1Y) Largest decline over 1 year	-6.96%	-4.99%	-1.97%
Max Drawdown (3Y) Largest decline over 3 years	-15.18%	-5.90%	-9.28%
Max Drawdown (5Y) Largest decline over 5 years	-31.24%	-17.51%	-13.73%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.72%	—
Current Drawdown Current decline from peak	-0.83%	-0.56%	-0.27%
Average Drawdown Average peak-to-trough decline	-8.16%	-3.64%	-4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	1.15%	+0.56%

Volatility

QQQH vs. BIICX - Volatility Comparison

NEOS Nasdaq-100 Hedged Equity Income ETF (QQQH) has a higher volatility of 4.55% compared to BlackRock Multi-Asset Income Portfolio (BIICX) at 1.64%. This indicates that QQQH's price experiences larger fluctuations and is considered to be riskier than BIICX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQH	BIICX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.55%	1.64%	+2.91%
Volatility (6M) Calculated over the trailing 6-month period	8.91%	4.78%	+4.13%
Volatility (1Y) Calculated over the trailing 1-year period	11.02%	5.60%	+5.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.40%	6.37%	+7.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.45%	6.07%	+7.38%

QQQH vs. BIICX - Expense Ratio Comparison

QQQH has a 0.68% expense ratio, which is higher than BIICX's 0.55% expense ratio.

Dividends

QQQH vs. BIICX - Dividend Comparison

QQQH's dividend yield for the trailing twelve months is around 8.89%, more than BIICX's 6.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIICX BlackRock Multi-Asset Income Portfolio	6.64%	6.50%	6.27%	4.40%	4.44%	5.13%	4.32%	4.94%	5.52%	4.85%	4.95%	5.61%
QQQH NEOS Nasdaq-100 Hedged Equity Income ETF	8.89%	8.86%	7.53%	7.18%	9.05%	7.77%	7.48%	0.65%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQQH and BIICX in my portfolio?

QQQH and BIICX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQH or BIICX?

QQQH has higher volatility (4.55%) compared to BIICX (1.64%). In terms of maximum drawdown, QQQH dropped -31.24% vs BIICX's -33.25%.

Which has better risk-adjusted returns?

BIICX currently has the higher Sharpe Ratio (1.73 vs 1.37), 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.