XCIIX vs. BOE
XCIIX (BlackRock Enhanced Capital and Income Fund) and BOE (BlackRock Enhanced Global Dividend Trust) are both Derivative Income funds from BlackRock. Both are actively managed. Over the past 10 years, XCIIX returned 10.24%/yr vs 9.24%/yr for BOE. A 0.64 correlation means they provide meaningful diversification when combined. XCIIX charges 0.90%/yr vs 1.11%/yr for BOE.
Performance
XCIIX vs. BOE - Performance Comparison
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Returns By Period
In the year-to-date period, XCIIX achieves a 8.53% return, which is significantly higher than BOE's 5.20% return. Over the past 10 years, XCIIX has outperformed BOE with an annualized return of 10.24%, while BOE has yielded a comparatively lower 9.24% annualized return.
XCIIX
- 1D
- 1.45%
- 1M
- -0.28%
- YTD
- 8.53%
- 6M
- 8.58%
- 1Y
- 13.42%
- 3Y*
- 13.81%
- 5Y*
- 9.58%
- 10Y*
- 10.24%
BOE
- 1D
- -0.59%
- 1M
- 0.36%
- YTD
- 5.20%
- 6M
- 5.56%
- 1Y
- 16.50%
- 3Y*
- 15.20%
- 5Y*
- 7.01%
- 10Y*
- 9.24%
XCIIX vs. BOE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCIIX BlackRock Enhanced Capital and Income Fund | 8.53% | 10.59% | 14.15% | 20.34% | -11.31% | 21.80% | 13.34% | 21.26% | -10.58% | 14.36% |
BOE BlackRock Enhanced Global Dividend Trust | 5.20% | 18.77% | 16.76% | 12.00% | -15.49% | 18.94% | 7.39% | 26.08% | -19.23% | 29.71% |
Correlation
The correlation between XCIIX and BOE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since May 26, 2005 | 0.64 |
The correlation between XCIIX and BOE shifts across timeframes, from 0.57 (1 year) to 0.71 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XCIIX vs. BOE — Risk / Return Rank
XCIIX
BOE
XCIIX vs. BOE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Enhanced Capital and Income Fund (XCIIX) and BlackRock Enhanced Global Dividend Trust (BOE). 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.
| XCIIX | BOE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.94 | 1.44 | -0.50 |
| Martin ratioReturn relative to average drawdown | 2.82 | 6.21 | -3.39 |
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Drawdowns
XCIIX vs. BOE - Drawdown Comparison
The maximum XCIIX drawdown since its inception was -56.56%, roughly equal to the maximum BOE drawdown of -59.39%. Use the drawdown chart below to compare losses from any high point for XCIIX and BOE.
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Drawdown Indicators
| XCIIX | BOE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.56% | -59.39% | +2.83% |
Max Drawdown (1Y)Largest decline over 1 year | -16.02% | -11.51% | -4.51% |
Max Drawdown (3Y)Largest decline over 3 years | -19.50% | -14.53% | -4.97% |
Max Drawdown (5Y)Largest decline over 5 years | -19.50% | -26.13% | +6.63% |
Max Drawdown (10Y)Largest decline over 10 years | -32.23% | -36.55% | +4.32% |
Current DrawdownCurrent decline from peak | -1.72% | -1.75% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -18.33% | -9.34% | -8.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.97% | 2.66% | +2.31% |
Volatility
XCIIX vs. BOE - Volatility Comparison
BlackRock Enhanced Capital and Income Fund (XCIIX) has a higher volatility of 5.10% compared to BlackRock Enhanced Global Dividend Trust (BOE) at 4.08%. This indicates that XCIIX's price experiences larger fluctuations and is considered to be riskier than BOE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCIIX | BOE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.10% | 4.08% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 14.57% | 9.99% | +4.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.64% | 12.15% | +4.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.96% | 14.58% | +2.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.21% | 16.37% | +0.84% |
XCIIX vs. BOE - Expense Ratio Comparison
XCIIX has a 0.90% expense ratio, which is lower than BOE's 1.11% expense ratio.
Dividends
XCIIX vs. BOE - Dividend Comparison
XCIIX's dividend yield for the trailing twelve months is around 0.57%, less than BOE's 8.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BOE BlackRock Enhanced Global Dividend Trust | 8.40% | 8.47% | 7.20% | 7.62% | 7.91% | 6.21% | 6.93% | 6.88% | 9.03% | 18.90% | 9.08% | 9.12% |
XCIIX BlackRock Enhanced Capital and Income Fund | 0.57% | 4.36% | 5.30% | 6.03% | 11.97% | 4.99% | 5.49% | 2.89% | 0.68% | 0.31% | 0.00% | 0.66% |
Frequently Asked Questions
XCIIX and BOE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XCIIX has higher volatility (5.10%) compared to BOE (4.08%). In terms of maximum drawdown, XCIIX dropped -56.56% vs BOE's -59.39%.
BOE currently has the higher Sharpe Ratio (1.37 vs 0.90), 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.
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