VFAIX vs. BACAX

Last updated Aug 2, 2026

VFAIX (Vanguard Financials Index Fund Admiral Shares) and BACAX (BlackRock Energy Opportunities Fund) are both mutual funds - VFAIX is a Financials Equities fund tracking the MSCI US Investable Market Financials 25/50 Index, while BACAX is a Energy Equities fund managed by BlackRock. Over the past 10 years, VFAIX returned 13.41%/yr vs 9.16%/yr for BACAX. Their 0.52 correlation means they have sometimes moved together and sometimes differently. VFAIX charges 0.09%/yr vs 1.32%/yr for BACAX.

Performance

VFAIX vs. BACAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Financials Index Fund Admiral Shares (VFAIX) and BlackRock Energy Opportunities Fund (BACAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFAIX achieves a 5.46% return, which is significantly lower than BACAX's 32.81% return. Over the past 10 years, VFAIX has outperformed BACAX with an annualized return of 13.41%, while BACAX has yielded a comparatively lower 9.16% annualized return.

VFAIX

• 1D: 0.50%
• 1M: 2.34%
• 6M: 7.49%
• YTD: 5.46%
• 1Y: 13.21%
• 3Y*: 19.66%
• 5Y*: 11.54%
• 10Y*: 13.41%
• ALL TIME*: 6.81%

BACAX

• 1D: 1.10%
• 1M: 10.86%
• 6M: 18.00%
• YTD: 32.81%
• 1Y: 41.22%
• 3Y*: 15.06%
• 5Y*: 21.36%
• 10Y*: 9.16%
• ALL TIME*: 5.61%

*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)
BACAX BlackRock Energy Opportunities Fund	$0.00	$0.00	$0.00
VFAIX Vanguard Financials Index Fund Admiral Shares	$0.00	$0.00	$0.00

VFAIX vs. BACAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFAIX Vanguard Financials Index Fund Admiral Shares	5.46%	14.90%	30.46%	14.07%	-12.26%	36.27%	-2.15%	31.63%	-13.47%	20.05%
BACAX BlackRock Energy Opportunities Fund	32.81%	10.53%	3.78%	2.61%	43.02%	42.93%	-29.68%	12.64%	-19.98%	2.07%

Correlation

The correlation between VFAIX and BACAX is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.03
Correlation (3Y) Balances recent behavior with more history.	0.23
Correlation (5Y) Shows whether the relationship held over a longer period.	0.39
Correlation (10Y) Provides a long-term view across more market conditions.	0.50
Correlation (All Time) Calculated using the full available price history since Feb 24, 2005	0.52

The correlation between VFAIX and BACAX shifts across timeframes, from -0.03 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VFAIX vs. BACAX — Risk / Return Rank

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

VFAIX

VFAIX Risk / Return Rank: 18
VFAIX Sharpe Ratio Rank: 20
VFAIX Sortino Ratio Rank: 19
VFAIX Omega Ratio Rank: 20
VFAIX Calmar Ratio Rank: 15
VFAIX Martin Ratio Rank: 14

BACAX

BACAX Risk / Return Rank: 81
BACAX Sharpe Ratio Rank: 89
BACAX Sortino Ratio Rank: 81
BACAX Omega Ratio Rank: 80
BACAX Calmar Ratio Rank: 86
BACAX Martin Ratio Rank: 72

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.

VFAIX vs. BACAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Financials Index Fund Admiral Shares (VFAIX) and BlackRock Energy Opportunities Fund (BACAX). 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.

	VFAIX	BACAX	Difference
Sharpe ratio: Return per unit of total volatility	0.70	2.19	-1.50
Sortino ratio: Return per unit of downside risk	1.03	2.81	-1.78
Omega ratio: Gain probability vs. loss probability	1.13	1.36	-0.23
Calmar ratio: Return relative to maximum drawdown	0.71	2.95	-2.24
Martin ratio: Return relative to average drawdown	1.85	8.75	-6.90

VFAIX vs. BACAX - Sharpe Ratio Comparison

The current VFAIX Sharpe Ratio is 0.70, which is lower than the BACAX Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of VFAIX and BACAX, 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

VFAIX vs. BACAX - Drawdown Comparison

The maximum VFAIX drawdown since its inception was -78.64%, roughly equal to the maximum BACAX drawdown of -78.88%. Use the drawdown chart below to compare losses from any high point for VFAIX and BACAX.

Drawdown Indicators

	VFAIX	BACAX	Difference
Max Drawdown Largest peak-to-trough decline	-78.64%	-78.88%	+0.24%
Max Drawdown (1Y) Largest decline over 1 year	-14.72%	-13.36%	-1.36%
Max Drawdown (3Y) Largest decline over 3 years	-17.31%	-18.73%	+1.42%
Max Drawdown (5Y) Largest decline over 5 years	-25.71%	-25.74%	+0.03%
Max Drawdown (10Y) Largest decline over 10 years	-44.37%	-65.92%	+21.55%
Current Drawdown Current decline from peak	-1.08%	-3.02%	+1.94%
Average Drawdown Average peak-to-trough decline	-18.49%	-34.08%	+15.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.66%	4.50%	+1.16%

Volatility

VFAIX vs. BACAX - Volatility Comparison

The current volatility for Vanguard Financials Index Fund Admiral Shares (VFAIX) is 4.48%, while BlackRock Energy Opportunities Fund (BACAX) has a volatility of 5.88%. This indicates that VFAIX experiences smaller price fluctuations and is considered to be less risky than BACAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFAIX	BACAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	5.88%	-1.40%
Volatility (6M) Calculated over the trailing 6-month period	11.25%	14.84%	-3.59%
Volatility (1Y) Calculated over the trailing 1-year period	15.04%	18.03%	-2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.17%	23.37%	-4.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.54%	27.16%	-4.62%

VFAIX vs. BACAX - Expense Ratio Comparison

VFAIX has a 0.09% expense ratio, which is lower than BACAX's 1.32% expense ratio.

Dividends

VFAIX vs. BACAX - Dividend Comparison

VFAIX's dividend yield for the trailing twelve months is around 1.67%, less than BACAX's 1.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BACAX BlackRock Energy Opportunities Fund	1.77%	2.47%	2.29%	3.06%	2.21%	2.39%	3.38%	2.69%	2.87%	2.48%	1.95%	1.98%
VFAIX Vanguard Financials Index Fund Admiral Shares	1.67%	1.56%	1.75%	2.08%	2.31%	2.62%	2.21%	2.17%	2.30%	1.54%	1.64%	2.00%

Frequently Asked Questions

Can I hold both VFAIX and BACAX in my portfolio?

VFAIX and BACAX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VFAIX or BACAX?

BACAX has higher volatility (5.88%) compared to VFAIX (4.48%). In terms of maximum drawdown, VFAIX dropped -78.64% vs BACAX's -78.88%.

Which has better risk-adjusted returns?

BACAX currently has the higher Sharpe Ratio (2.19 vs 0.70), 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.