STEN vs. BALI

Last updated Jun 4, 2026

STEN (iShares Large Cap 10% Target Buffer Sep ETF) and BALI (Blackrock Advantage Large Cap Income ETF) are both exchange-traded funds - STEN is a Defined Outcome fund actively managed by BlackRock, while BALI is a Derivative Income fund actively managed by BlackRock. Both are actively managed. With a 0.95 correlation, they move nearly in lockstep. STEN charges 0.50%/yr vs 0.35%/yr for BALI.

Performance

STEN vs. BALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap 10% Target Buffer Sep ETF (STEN) and Blackrock Advantage Large Cap Income ETF (BALI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STEN achieves a 7.79% return, which is significantly lower than BALI's 11.50% return.

STEN

• 1D: -0.30%
• 1M: 3.31%
• YTD: 7.79%
• 6M: 8.22%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BALI

• 1D: 0.25%
• 1M: 3.94%
• YTD: 11.50%
• 6M: 12.10%
• 1Y: 26.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

STEN vs. BALI - Yearly Performance Comparison

	2026 (YTD)	2025
STEN iShares Large Cap 10% Target Buffer Sep ETF	7.79%	2.05%
BALI Blackrock Advantage Large Cap Income ETF	11.50%	2.17%

Correlation

The correlation between STEN and BALI is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.95

Return for Risk

STEN vs. BALI — Risk / Return Rank

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

BALI

BALI Risk / Return Rank: 84
BALI Sharpe Ratio Rank: 84
BALI Sortino Ratio Rank: 85
BALI Omega Ratio Rank: 84
BALI Calmar Ratio Rank: 79
BALI Martin Ratio Rank: 89

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.

STEN vs. BALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Sep ETF (STEN) and Blackrock Advantage Large Cap Income ETF (BALI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	STEN	BALI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.67	1.73	-0.06

Drawdowns

STEN vs. BALI - Drawdown Comparison

The maximum STEN drawdown since its inception was -6.21%, smaller than the maximum BALI drawdown of -16.65%. Use the drawdown chart below to compare losses from any high point for STEN and BALI.

Drawdown Indicators

	STEN	BALI	Difference
Max Drawdown Largest peak-to-trough decline	-6.21%	-16.65%	+10.44%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.71%	—
Current Drawdown Current decline from peak	-0.30%	-0.16%	-0.14%
Average Drawdown Average peak-to-trough decline	-0.92%	-1.63%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.34%	—

Volatility

Volatility by Period

	STEN	BALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.24%	9.91%	-0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.24%	12.92%	-3.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.24%	12.92%	-3.68%

STEN vs. BALI - Expense Ratio Comparison

STEN has a 0.50% expense ratio, which is higher than BALI's 0.35% expense ratio.

Dividends

STEN vs. BALI - Dividend Comparison

STEN's dividend yield for the trailing twelve months is around 0.29%, less than BALI's 7.64% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.64%	8.51%	7.13%	2.13%
STEN iShares Large Cap 10% Target Buffer Sep ETF	0.29%	0.31%	0.00%	0.00%

Frequently Asked Questions

Can I hold both STEN and BALI in my portfolio?

With a correlation of 0.95, STEN and BALI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, STEN or BALI?

On fees, BALI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, STEN or BALI?

BALI is cheaper with a 0.35% expense ratio, compared with 0.50% for STEN.

Which ETF pays a higher dividend yield, STEN or BALI?

BALI has the higher dividend yield at 7.64%, compared with 0.29% for STEN.

What is the main difference between STEN and BALI?

STEN is categorized as Defined Outcome, while BALI is Derivative Income. Their fees differ too: 0.50% for STEN and 0.35% for BALI.