BATEX vs. NMHIX
BATEX (BlackRock Allocation Target Shares Series E Portfolio) and NMHIX (Neuberger Berman Municipal High Income Fund) are both High Yield Muni funds. A 0.78 correlation means they provide meaningful diversification when combined. BATEX charges 0.11%/yr vs 0.52%/yr for NMHIX.
Performance
BATEX vs. NMHIX - Performance Comparison
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Returns By Period
BATEX
- 1D
- 0.00%
- 1M
- 1.21%
- 6M
- 3.25%
- YTD
- 3.87%
- 1Y
- 8.76%
- 3Y*
- 5.65%
- 5Y*
- 0.61%
- 10Y*
- 3.00%
NMHIX
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BATEX vs. NMHIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BATEX BlackRock Allocation Target Shares Series E Portfolio | 3.87% | 3.22% | 4.74% | 6.45% | -14.23% | 8.28% | 5.77% | 10.92% | 1.75% | 8.76% |
NMHIX Neuberger Berman Municipal High Income Fund | 0.48% | 3.56% | 6.27% | 4.34% | -14.26% | 4.90% | 4.04% | 8.28% | 2.19% | 8.75% |
Correlation
The correlation between BATEX and NMHIX is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.78 |
The correlation between BATEX and NMHIX has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.
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Return for Risk
BATEX vs. NMHIX — Risk / Return Rank
BATEX
NMHIX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BATEX vs. NMHIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Allocation Target Shares Series E Portfolio (BATEX) and Neuberger Berman Municipal High Income Fund (NMHIX). 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 | NMHIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.52 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | — | — |
| Martin ratioReturn relative to average drawdown | 9.50 | — | — |
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Drawdowns
BATEX vs. NMHIX - Drawdown Comparison
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Drawdown Indicators
| BATEX | NMHIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.90% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -7.82% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.90% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.90% | — | — |
Current DrawdownCurrent decline from peak | -0.49% | — | — |
Average DrawdownAverage peak-to-trough decline | -3.99% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | — | — |
Volatility
BATEX vs. NMHIX - Volatility Comparison
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Volatility by Period
| BATEX | NMHIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.78% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.89% | — | — |
BATEX vs. NMHIX - Expense Ratio Comparison
BATEX has a 0.11% expense ratio, which is lower than NMHIX's 0.52% expense ratio.
Dividends
BATEX vs. NMHIX - Dividend Comparison
BATEX's dividend yield for the trailing twelve months is around 5.01%, more than NMHIX's 3.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BATEX BlackRock Allocation Target Shares Series E Portfolio | 5.01% | 5.01% | 3.74% | 2.98% | 5.41% | 3.29% | 3.50% | 3.80% | 4.75% | 2.88% | 0.98% | 0.13% |
NMHIX Neuberger Berman Municipal High Income Fund | 3.82% | 3.98% | 3.81% | 3.11% | 2.43% | 2.74% | 2.90% | 3.36% | 3.64% | 3.44% | 4.42% | 0.00% |
Frequently Asked Questions
BATEX and NMHIX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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