ATOIX vs. BATVX

Last updated Apr 1, 2026

Compare and contrast key facts about abrdn Ultra Short Municipal Income Fund (ATOIX) and BlackRock Allocation Target Shares (BATVX).

ATOIX is managed by Aberdeen. It was launched on Dec 4, 2002. BATVX is managed by BlackRock. It was launched on May 20, 2021.

Performance

ATOIX vs. BATVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Ultra Short Municipal Income Fund (ATOIX) and BlackRock Allocation Target Shares (BATVX). The values are adjusted to include any dividend payments, if applicable.

ATOIX vs. BATVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ATOIX abrdn Ultra Short Municipal Income Fund	0.35%	3.33%	3.14%	3.27%	0.87%	-0.08%
BATVX BlackRock Allocation Target Shares	0.33%	2.80%	2.48%	1.41%	-0.10%	0.00%

Returns By Period

In the year-to-date period, ATOIX achieves a 0.35% return, which is significantly higher than BATVX's 0.33% return.

ATOIX

• 1D: 0.00%
• 1M: -0.10%
• YTD: 0.35%
• 6M: 1.37%
• 1Y: 2.95%
• 3Y*: 3.07%
• 5Y*: 2.17%
• 10Y*: 1.73%

BATVX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.33%
• 6M: 1.02%
• 1Y: 2.45%
• 3Y*: 2.34%
• 5Y*: —
• 10Y*: —

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

ATOIX vs. BATVX - Expense Ratio Comparison

ATOIX has a 0.44% expense ratio, which is higher than BATVX's 0.00% expense ratio.

ATOIX

abrdn Ultra Short Municipal Income Fund

BATVX

BlackRock Allocation Target Shares

Return for Risk

ATOIX vs. BATVX — Risk / Return Rank

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

ATOIX

ATOIX Risk / Return Rank: 100
ATOIX Sharpe Ratio Rank: 99
ATOIX Sortino Ratio Rank: 100
ATOIX Omega Ratio Rank: 100
ATOIX Calmar Ratio Rank: 100
ATOIX Martin Ratio Rank: 100

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.

ATOIX vs. BATVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Ultra Short Municipal Income Fund (ATOIX) and BlackRock Allocation Target Shares (BATVX). 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.

	ATOIX	BATVX	Difference
Sharpe ratio Return per unit of total volatility	3.51	3.56	-0.05
Sortino ratio Return per unit of downside risk	18.38	—	—
Omega ratio Gain probability vs. loss probability	11.59	—	—
Calmar ratio Return relative to maximum drawdown	32.23	—	—
Martin ratio Return relative to average drawdown	93.42	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ATOIX vs. BATVX - Sharpe Ratio Comparison

The current ATOIX Sharpe Ratio is 3.51, which is comparable to the BATVX Sharpe Ratio of 3.56. The chart below compares the historical Sharpe Ratios of ATOIX and BATVX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ATOIX	BATVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.51	3.56	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.69	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	2.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.45	2.29	+0.16

Correlation

The correlation between ATOIX and BATVX is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ATOIX vs. BATVX - Dividend Comparison

ATOIX's dividend yield for the trailing twelve months is around 2.90%, more than BATVX's 2.42% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATOIX abrdn Ultra Short Municipal Income Fund	2.90%	3.27%	3.09%	3.02%	1.07%	0.06%	0.88%	1.39%	1.42%	2.20%	0.61%	0.52%
BATVX BlackRock Allocation Target Shares	2.42%	2.76%	2.44%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ATOIX vs. BATVX - Drawdown Comparison

The maximum ATOIX drawdown since its inception was -1.46%, which is greater than BATVX's maximum drawdown of -0.20%. Use the drawdown chart below to compare losses from any high point for ATOIX and BATVX.

Drawdown Indicators

	ATOIX	BATVX	Difference
Max Drawdown Largest peak-to-trough decline	-1.46%	-0.20%	-1.26%
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	0.00%	-0.10%
Max Drawdown (5Y) Largest decline over 5 years	-0.37%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-0.43%	—	—
Current Drawdown Current decline from peak	-0.10%	0.00%	-0.10%
Average Drawdown Average peak-to-trough decline	-0.06%	-0.03%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	0.00%	+0.03%

Volatility

ATOIX vs. BATVX - Volatility Comparison

abrdn Ultra Short Municipal Income Fund (ATOIX) has a higher volatility of 0.10% compared to BlackRock Allocation Target Shares (BATVX) at 0.00%. This indicates that ATOIX's price experiences larger fluctuations and is considered to be riskier than BATVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATOIX	BATVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.10%	0.00%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	0.65%	0.51%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	0.92%	0.76%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.81%	0.62%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.78%	0.62%	+0.16%