TCBIX vs. BMEAX

Last updated Aug 4, 2026

TCBIX (The Covered Bridge Fund) and BMEAX (BlackRock High Equity Income Fund Class A) are both Derivative Income funds. Over the past 10 years, TCBIX returned 7.57%/yr vs 9.25%/yr for BMEAX. Their correlation of 0.87 means they have usually moved in the same direction. TCBIX charges 1.40%/yr vs 1.10%/yr for BMEAX.

Performance

TCBIX vs. BMEAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Covered Bridge Fund (TCBIX) and BlackRock High Equity Income Fund Class A (BMEAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TCBIX achieves a 10.92% return, which is significantly lower than BMEAX's 12.83% return. Over the past 10 years, TCBIX has underperformed BMEAX with an annualized return of 7.57%, while BMEAX has yielded a comparatively higher 9.25% annualized return.

TCBIX

• 1D: -0.10%
• 1M: 1.59%
• 6M: 7.01%
• YTD: 10.92%
• 1Y: 19.02%
• 3Y*: 9.71%
• 5Y*: 6.94%
• 10Y*: 7.57%
• ALL TIME*: 7.25%

BMEAX

• 1D: 0.66%
• 1M: 1.49%
• 6M: 8.94%
• YTD: 12.83%
• 1Y: 23.98%
• 3Y*: 12.26%
• 5Y*: 8.88%
• 10Y*: 9.25%
• ALL TIME*: 11.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BMEAX BlackRock High Equity Income Fund Class A	$0.00	$0.00	$0.00
TCBIX The Covered Bridge Fund	$0.00	$0.00	$0.00

TCBIX vs. BMEAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TCBIX The Covered Bridge Fund	10.92%	12.61%	4.09%	4.09%	0.05%	18.21%	-1.71%	18.73%	-3.93%	9.66%
BMEAX BlackRock High Equity Income Fund Class A	12.83%	16.81%	6.18%	8.54%	-3.59%	22.11%	-1.75%	21.68%	-6.50%	15.85%

Correlation

The correlation between TCBIX and BMEAX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013	0.87

The correlation between TCBIX and BMEAX shifts across timeframes, from 0.75 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TCBIX vs. BMEAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TCBIX

TCBIX Risk / Return Rank: 86
TCBIX Sharpe Ratio Rank: 86
TCBIX Sortino Ratio Rank: 87
TCBIX Omega Ratio Rank: 80
TCBIX Calmar Ratio Rank: 90
TCBIX Martin Ratio Rank: 86

BMEAX

BMEAX Risk / Return Rank: 78
BMEAX Sharpe Ratio Rank: 83
BMEAX Sortino Ratio Rank: 81
BMEAX Omega Ratio Rank: 78
BMEAX Calmar Ratio Rank: 68
BMEAX Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TCBIX vs. BMEAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Covered Bridge Fund (TCBIX) and BlackRock High Equity Income Fund Class A (BMEAX). 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.

	TCBIX	BMEAX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.03	+0.11
Sortino ratio: Return per unit of downside risk	3.21	2.91	+0.30
Omega ratio: Gain probability vs. loss probability	1.38	1.36	+0.02
Calmar ratio: Return relative to maximum drawdown	3.53	2.37	+1.16
Martin ratio: Return relative to average drawdown	11.58	10.27	+1.31

TCBIX vs. BMEAX - Sharpe Ratio Comparison

The current TCBIX Sharpe Ratio is 2.14, which is comparable to the BMEAX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of TCBIX and BMEAX, 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

TCBIX vs. BMEAX - Drawdown Comparison

The maximum TCBIX drawdown since its inception was -28.94%, smaller than the maximum BMEAX drawdown of -73.05%. Use the drawdown chart below to compare losses from any high point for TCBIX and BMEAX.

Drawdown Indicators

	TCBIX	BMEAX	Difference
Max Drawdown Largest peak-to-trough decline	-28.94%	-73.05%	+44.11%
Max Drawdown (1Y) Largest decline over 1 year	-5.26%	-9.56%	+4.30%
Max Drawdown (3Y) Largest decline over 3 years	-12.73%	-13.79%	+1.06%
Max Drawdown (5Y) Largest decline over 5 years	-17.07%	-19.32%	+2.25%
Max Drawdown (10Y) Largest decline over 10 years	-28.94%	-38.27%	+9.33%
Current Drawdown Current decline from peak	-0.31%	0.00%	-0.31%
Average Drawdown Average peak-to-trough decline	-3.45%	-19.56%	+16.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	2.21%	-0.61%

Volatility

TCBIX vs. BMEAX - Volatility Comparison

The Covered Bridge Fund (TCBIX) has a higher volatility of 2.90% compared to BlackRock High Equity Income Fund Class A (BMEAX) at 2.68%. This indicates that TCBIX's price experiences larger fluctuations and is considered to be riskier than BMEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TCBIX	BMEAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.90%	2.68%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	6.45%	8.96%	-2.51%
Volatility (1Y) Calculated over the trailing 1-year period	8.77%	11.18%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.20%	13.39%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.51%	15.64%	-2.13%

TCBIX vs. BMEAX - Expense Ratio Comparison

TCBIX has a 1.40% expense ratio, which is higher than BMEAX's 1.10% expense ratio.

Dividends

TCBIX vs. BMEAX - Dividend Comparison

TCBIX's dividend yield for the trailing twelve months is around 8.34%, more than BMEAX's 6.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BMEAX BlackRock High Equity Income Fund Class A	6.69%	7.62%	6.10%	5.45%	5.70%	6.46%	4.52%	4.46%	10.86%	58.18%	6.05%	8.93%
TCBIX The Covered Bridge Fund	8.34%	8.24%	7.47%	7.34%	8.09%	6.00%	4.70%	6.77%	11.55%	7.32%	7.32%	5.36%

Frequently Asked Questions

Can I hold both TCBIX and BMEAX in my portfolio?

TCBIX and BMEAX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TCBIX or BMEAX?

TCBIX has higher volatility (2.90%) compared to BMEAX (2.68%). In terms of maximum drawdown, TCBIX dropped -28.94% vs BMEAX's -73.05%.

Which has better risk-adjusted returns?

TCBIX currently has the higher Sharpe Ratio (2.14 vs 2.03), 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.