BATEX vs. ABTYX
BATEX (BlackRock Allocation Target Shares Series E Portfolio) and ABTYX (AB High Income Municipal Portfolio) are both High Yield Muni funds. Over the past 10 years, BATEX returned 2.96%/yr vs 2.77%/yr for ABTYX. A 0.80 correlation means they provide meaningful diversification when combined. BATEX charges 0.11%/yr vs 0.53%/yr for ABTYX.
Performance
BATEX vs. ABTYX - Performance Comparison
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Returns By Period
In the year-to-date period, BATEX achieves a 3.24% return, which is significantly higher than ABTYX's 2.42% return. Over the past 10 years, BATEX has outperformed ABTYX with an annualized return of 2.96%, while ABTYX has yielded a comparatively lower 2.77% annualized return.
BATEX
- 1D
- 0.10%
- 1M
- 2.55%
- YTD
- 3.24%
- 6M
- 3.78%
- 1Y
- 7.83%
- 3Y*
- 4.79%
- 5Y*
- 0.78%
- 10Y*
- 2.96%
ABTYX
- 1D
- -0.10%
- 1M
- 2.24%
- YTD
- 2.42%
- 6M
- 3.02%
- 1Y
- 8.57%
- 3Y*
- 5.23%
- 5Y*
- 0.63%
- 10Y*
- 2.77%
BATEX vs. ABTYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BATEX BlackRock Allocation Target Shares Series E Portfolio | 3.24% | 3.22% | 4.74% | 6.45% | -14.23% | 8.28% | 5.77% | 10.92% | 1.75% | 8.76% |
ABTYX AB High Income Municipal Portfolio | 2.42% | 5.88% | 4.64% | 5.49% | -15.49% | 5.73% | 5.08% | 11.31% | 1.02% | 10.22% |
Correlation
The correlation between BATEX and ABTYX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2014 | 0.80 |
The correlation between BATEX and ABTYX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.
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Return for Risk
BATEX vs. ABTYX — Risk / Return Rank
BATEX
ABTYX
BATEX vs. ABTYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Allocation Target Shares Series E Portfolio (BATEX) and AB High Income Municipal Portfolio (ABTYX). 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.
| BATEX | ABTYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.49 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 2.28 | +0.29 |
| Martin ratioReturn relative to average drawdown | 7.69 | 7.67 | +0.02 |
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Drawdowns
BATEX vs. ABTYX - Drawdown Comparison
The maximum BATEX drawdown since its inception was -19.90%, smaller than the maximum ABTYX drawdown of -21.44%. Use the drawdown chart below to compare losses from any high point for BATEX and ABTYX.
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Drawdown Indicators
| BATEX | ABTYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.90% | -21.44% | +1.54% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -3.82% | +0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -8.30% | -9.37% | +1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -19.90% | -21.44% | +1.54% |
Max Drawdown (10Y)Largest decline over 10 years | -19.90% | -21.44% | +1.54% |
Current DrawdownCurrent decline from peak | 0.00% | -0.23% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -4.01% | -3.95% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.13% | -0.08% |
Volatility
BATEX vs. ABTYX - Volatility Comparison
BlackRock Allocation Target Shares Series E Portfolio (BATEX) and AB High Income Municipal Portfolio (ABTYX) have volatilities of 1.01% and 1.01%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BATEX | ABTYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 1.01% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 2.90% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.89% | 3.88% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.78% | 6.07% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.90% | 5.63% | +0.27% |
BATEX vs. ABTYX - Expense Ratio Comparison
BATEX has a 0.11% expense ratio, which is lower than ABTYX's 0.53% expense ratio.
Dividends
BATEX vs. ABTYX - Dividend Comparison
BATEX's dividend yield for the trailing twelve months is around 5.05%, more than ABTYX's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABTYX AB High Income Municipal Portfolio | 4.60% | 5.93% | 4.15% | 3.10% | 3.91% | 2.59% | 3.70% | 4.27% | 4.60% | 4.20% | 4.48% | 4.69% |
BATEX BlackRock Allocation Target Shares Series E Portfolio | 5.05% | 5.01% | 3.74% | 2.98% | 5.41% | 3.29% | 3.50% | 3.80% | 4.75% | 2.88% | 0.98% | 0.13% |
Frequently Asked Questions
BATEX and ABTYX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ABTYX has higher volatility (1.01%) compared to BATEX (1.01%). In terms of maximum drawdown, BATEX dropped -19.90% vs ABTYX's -21.44%.
ABTYX currently has the higher Sharpe Ratio (2.25 vs 2.08), 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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