STEN vs. BPAY

Last updated Jun 4, 2026

STEN (iShares Large Cap 10% Target Buffer Sep ETF) and BPAY (BlackRock Future Financial and Technology ETF) are both exchange-traded funds - STEN is a Defined Outcome fund actively managed by BlackRock, while BPAY is a Financials Equities fund actively managed by BlackRock. Both are actively managed. A 0.74 correlation means they provide meaningful diversification when combined. STEN charges 0.50%/yr vs 0.70%/yr for BPAY.

Performance

STEN vs. BPAY - 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 Future Financial and Technology ETF (BPAY). 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 higher than BPAY's -12.44% return.

STEN

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

BPAY

• 1D: -4.23%
• 1M: -4.47%
• YTD: -12.44%
• 6M: -14.32%
• 1Y: -10.80%
• 3Y*: 8.49%
• 5Y*: —
• 10Y*: —

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

STEN vs. BPAY - Yearly Performance Comparison

	2026 (YTD)	2025
STEN iShares Large Cap 10% Target Buffer Sep ETF	7.79%	2.05%
BPAY BlackRock Future Financial and Technology ETF	-12.44%	-9.76%

Correlation

The correlation between STEN and BPAY is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.74

Return for Risk

STEN vs. BPAY — Risk / Return Rank

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

BPAY

BPAY Risk / Return Rank: 5
BPAY Sharpe Ratio Rank: 5
BPAY Sortino Ratio Rank: 5
BPAY Omega Ratio Rank: 5
BPAY Calmar Ratio Rank: 6
BPAY Martin Ratio Rank: 6

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. BPAY - 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 Future Financial and Technology ETF (BPAY). 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	BPAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.67	0.06	+1.61

Drawdowns

STEN vs. BPAY - Drawdown Comparison

The maximum STEN drawdown since its inception was -6.21%, smaller than the maximum BPAY drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for STEN and BPAY.

Drawdown Indicators

	STEN	BPAY	Difference
Max Drawdown Largest peak-to-trough decline	-6.21%	-33.62%	+27.41%
Max Drawdown (1Y) Largest decline over 1 year	—	-33.62%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-33.62%	—
Current Drawdown Current decline from peak	-0.30%	-26.03%	+25.73%
Average Drawdown Average peak-to-trough decline	-0.92%	-10.54%	+9.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.98%	—

Volatility

Volatility by Period

	STEN	BPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.91%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.24%	26.01%	-16.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.24%	24.35%	-15.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.24%	24.35%	-15.11%

STEN vs. BPAY - Expense Ratio Comparison

STEN has a 0.50% expense ratio, which is lower than BPAY's 0.70% expense ratio.

Dividends

STEN vs. BPAY - Dividend Comparison

STEN's dividend yield for the trailing twelve months is around 0.29%, less than BPAY's 7.41% yield.

Position	TTM	2025	2024	2023	2022
BPAY BlackRock Future Financial and Technology ETF	7.41%	6.49%	0.48%	1.18%	0.18%
STEN iShares Large Cap 10% Target Buffer Sep ETF	0.29%	0.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both STEN and BPAY in my portfolio?

STEN and BPAY have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, STEN or BPAY?

On fees, STEN is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, STEN or BPAY?

STEN is cheaper with a 0.50% expense ratio, compared with 0.70% for BPAY.

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

BPAY has the higher dividend yield at 7.41%, compared with 0.29% for STEN.

What is the main difference between STEN and BPAY?

STEN is categorized as Defined Outcome, while BPAY is Financials Equities. Their fees differ too: 0.50% for STEN and 0.70% for BPAY.