BATEX vs. NASDX

Last updated Jun 3, 2026

BATEX (BlackRock Allocation Target Shares Series E Portfolio) and NASDX (Shelton Capital Management Nasdaq-100 Index Fund Direct Shares) are both mutual funds - BATEX is a High Yield Muni fund managed by BlackRock, while NASDX is a Large Cap Growth Equities fund tracking the NASDAQ-100 Index. Over the past 10 years, BATEX returned 3.06%/yr vs 22.58%/yr for NASDX. At a 0.01 correlation, their price movements are largely independent. BATEX charges 0.11%/yr vs 0.63%/yr for NASDX.

Performance

BATEX vs. NASDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Allocation Target Shares Series E Portfolio (BATEX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BATEX achieves a 2.43% return, which is significantly lower than NASDX's 21.38% return. Over the past 10 years, BATEX has underperformed NASDX with an annualized return of 3.06%, while NASDX has yielded a comparatively higher 22.58% annualized return.

BATEX

• 1D: 0.00%
• 1M: 0.83%
• YTD: 2.43%
• 6M: 2.66%
• 1Y: 7.52%
• 3Y*: 4.76%
• 5Y*: 0.72%
• 10Y*: 3.06%

NASDX

• 1D: 0.47%
• 1M: 10.94%
• YTD: 21.38%
• 6M: 19.90%
• 1Y: 42.08%
• 3Y*: 32.65%
• 5Y*: 20.44%
• 10Y*: 22.58%

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

BATEX vs. NASDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BATEX BlackRock Allocation Target Shares Series E Portfolio	2.43%	3.22%	4.74%	6.45%	-14.23%	8.28%	5.77%	10.92%	1.75%	8.76%
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	21.38%	21.00%	36.91%	54.69%	-32.57%	27.32%	48.59%	38.22%	-1.21%	31.27%

Correlation

The correlation between BATEX and NASDX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Aug 6, 2014	0.01

The correlation between BATEX and NASDX shifts across timeframes, from 0.01 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BATEX vs. NASDX — Risk / Return Rank

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

BATEX

BATEX Risk / Return Rank: 46
BATEX Sharpe Ratio Rank: 42
BATEX Sortino Ratio Rank: 51
BATEX Omega Ratio Rank: 63
BATEX Calmar Ratio Rank: 41
BATEX Martin Ratio Rank: 31

NASDX

NASDX Risk / Return Rank: 75
NASDX Sharpe Ratio Rank: 84
NASDX Sortino Ratio Rank: 71
NASDX Omega Ratio Rank: 67
NASDX Calmar Ratio Rank: 80
NASDX Martin Ratio Rank: 75

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.

BATEX vs. NASDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Allocation Target Shares Series E Portfolio (BATEX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX). 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.

	BATEX	NASDX	Difference
Sharpe ratio Return per unit of total volatility	1.89	2.70	-0.80
Sortino ratio Return per unit of downside risk	3.01	3.51	-0.50
Omega ratio Gain probability vs. loss probability	1.44	1.46	-0.02
Calmar ratio Return relative to maximum drawdown	2.47	3.65	-1.17
Martin ratio Return relative to average drawdown	7.40	14.16	-6.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BATEX vs. NASDX - Sharpe Ratio Comparison

The current BATEX Sharpe Ratio is 1.89, which is comparable to the NASDX Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of BATEX and NASDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BATEX	NASDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	2.70	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.89	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	1.00	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.33	+0.30

Drawdowns

BATEX vs. NASDX - Drawdown Comparison

The maximum BATEX drawdown since its inception was -19.90%, smaller than the maximum NASDX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for BATEX and NASDX.

Drawdown Indicators

	BATEX	NASDX	Difference
Max Drawdown Largest peak-to-trough decline	-19.90%	-83.16%	+63.26%
Max Drawdown (1Y) Largest decline over 1 year	-3.14%	-11.90%	+8.76%
Max Drawdown (3Y) Largest decline over 3 years	-8.30%	-22.71%	+14.41%
Max Drawdown (5Y) Largest decline over 5 years	-19.90%	-35.33%	+15.43%
Max Drawdown (10Y) Largest decline over 10 years	-19.90%	-35.33%	+15.43%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.03%	-34.37%	+30.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	3.06%	-2.01%

Volatility

BATEX vs. NASDX - Volatility Comparison

The current volatility for BlackRock Allocation Target Shares Series E Portfolio (BATEX) is 1.35%, while Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) has a volatility of 4.51%. This indicates that BATEX experiences smaller price fluctuations and is considered to be less risky than NASDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BATEX	NASDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	4.51%	-3.16%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	12.19%	-9.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.88%	16.10%	-12.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.78%	23.06%	-17.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.89%	22.68%	-16.79%

BATEX vs. NASDX - Expense Ratio Comparison

BATEX has a 0.11% expense ratio, which is lower than NASDX's 0.63% expense ratio.

Dividends

BATEX vs. NASDX - Dividend Comparison

BATEX's dividend yield for the trailing twelve months is around 5.09%, more than NASDX's 2.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BATEX BlackRock Allocation Target Shares Series E Portfolio	5.09%	5.01%	3.74%	2.98%	5.41%	3.29%	3.50%	3.80%	4.75%	2.88%	0.98%	0.13%
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	2.98%	3.76%	16.95%	7.61%	3.75%	2.59%	1.28%	7.09%	2.47%	1.65%	0.75%	0.85%

Frequently Asked Questions

Can I hold both BATEX and NASDX in my portfolio?

BATEX and NASDX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BATEX or NASDX?

NASDX has higher volatility (4.51%) compared to BATEX (1.35%). In terms of maximum drawdown, BATEX dropped -19.90% vs NASDX's -83.16%.

Which has better risk-adjusted returns?

NASDX currently has the higher Sharpe Ratio (2.70 vs 1.89), 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.