BATAX vs. VTCLX

Last updated Apr 2, 2026

Compare and contrast key facts about BlackRock Allocation Target Shares Series A Portfolio (BATAX) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX).

BATAX is managed by BlackRock. It was launched on Sep 21, 2015. VTCLX is managed by BlackRock. It was launched on Sep 6, 1994.

Performance

BATAX vs. VTCLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Allocation Target Shares Series A Portfolio (BATAX) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). The values are adjusted to include any dividend payments, if applicable.

BATAX vs. VTCLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BATAX BlackRock Allocation Target Shares Series A Portfolio	0.59%	7.37%	7.34%	6.43%	-5.87%	1.72%	2.75%	6.76%	2.20%	5.21%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	-4.05%	17.44%	23.76%	26.62%	-19.07%	26.87%	21.08%	31.47%	-4.98%	22.40%

Returns By Period

In the year-to-date period, BATAX achieves a 0.59% return, which is significantly higher than VTCLX's -4.05% return. Over the past 10 years, BATAX has underperformed VTCLX with an annualized return of 3.68%, while VTCLX has yielded a comparatively higher 13.99% annualized return.

BATAX

• 1D: 0.10%
• 1M: -0.52%
• YTD: 0.59%
• 6M: 1.98%
• 1Y: 5.86%
• 3Y*: 6.46%
• 5Y*: 3.34%
• 10Y*: 3.68%

VTCLX

• 1D: 2.93%
• 1M: -5.03%
• YTD: -4.05%
• 6M: -1.91%
• 1Y: 17.51%
• 3Y*: 17.97%
• 5Y*: 11.05%
• 10Y*: 13.99%

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

BATAX vs. VTCLX - Expense Ratio Comparison

BATAX has a 0.00% expense ratio, which is lower than VTCLX's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

VTCLX

Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares

BATAX

BlackRock Allocation Target Shares Series A Portfolio

Return for Risk

BATAX vs. VTCLX — Risk / Return Rank

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

BATAX

BATAX Risk / Return Rank: 98
BATAX Sharpe Ratio Rank: 98
BATAX Sortino Ratio Rank: 99
BATAX Omega Ratio Rank: 98
BATAX Calmar Ratio Rank: 98
BATAX Martin Ratio Rank: 98

VTCLX

VTCLX Risk / Return Rank: 59
VTCLX Sharpe Ratio Rank: 49
VTCLX Sortino Ratio Rank: 54
VTCLX Omega Ratio Rank: 55
VTCLX Calmar Ratio Rank: 64
VTCLX Martin Ratio Rank: 76

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.

BATAX vs. VTCLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Allocation Target Shares Series A Portfolio (BATAX) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). 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.

	BATAX	VTCLX	Difference
Sharpe ratio Return per unit of total volatility	2.86	0.98	+1.87
Sortino ratio Return per unit of downside risk	6.36	1.50	+4.86
Omega ratio Gain probability vs. loss probability	1.98	1.23	+0.75
Calmar ratio Return relative to maximum drawdown	5.55	1.52	+4.02
Martin ratio Return relative to average drawdown	21.28	7.35	+13.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BATAX vs. VTCLX - Sharpe Ratio Comparison

The current BATAX Sharpe Ratio is 2.86, which is higher than the VTCLX Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of BATAX and VTCLX, 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

	BATAX	VTCLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.86	0.98	+1.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.57	0.64	+0.93
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.21	0.77	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.50	+0.58

Correlation

The correlation between BATAX and VTCLX is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BATAX vs. VTCLX - Dividend Comparison

BATAX's dividend yield for the trailing twelve months is around 5.38%, more than VTCLX's 0.98% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BATAX BlackRock Allocation Target Shares Series A Portfolio	5.38%	5.92%	5.45%	3.91%	3.14%	1.82%	3.22%	4.73%	5.36%	4.10%	0.40%	0.00%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	0.98%	0.93%	1.04%	1.24%	1.47%	1.04%	1.32%	1.52%	1.83%	1.57%	1.76%	1.69%

Drawdowns

BATAX vs. VTCLX - Drawdown Comparison

The maximum BATAX drawdown since its inception was -17.42%, smaller than the maximum VTCLX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for BATAX and VTCLX.

Drawdown Indicators

	BATAX	VTCLX	Difference
Max Drawdown Largest peak-to-trough decline	-17.42%	-55.18%	+37.76%
Max Drawdown (1Y) Largest decline over 1 year	-1.15%	-12.20%	+11.05%
Max Drawdown (5Y) Largest decline over 5 years	-8.12%	-24.98%	+16.86%
Max Drawdown (10Y) Largest decline over 10 years	-17.42%	-34.56%	+17.14%
Current Drawdown Current decline from peak	-0.73%	-6.12%	+5.39%
Average Drawdown Average peak-to-trough decline	-1.32%	-7.61%	+6.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.30%	2.53%	-2.23%

Volatility

BATAX vs. VTCLX - Volatility Comparison

The current volatility for BlackRock Allocation Target Shares Series A Portfolio (BATAX) is 0.43%, while Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) has a volatility of 5.42%. This indicates that BATAX experiences smaller price fluctuations and is considered to be less risky than VTCLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BATAX	VTCLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.43%	5.42%	-4.99%
Volatility (6M) Calculated over the trailing 6-month period	1.36%	9.68%	-8.32%
Volatility (1Y) Calculated over the trailing 1-year period	2.12%	18.43%	-16.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.14%	17.23%	-15.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.07%	18.26%	-15.19%