BATEX vs. VTMFX
BATEX (BlackRock Allocation Target Shares Series E Portfolio) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both mutual funds - BATEX is a High Yield Muni fund managed by BlackRock, while VTMFX is a Diversified Portfolio fund managed by BlackRock. Over the past 10 years, BATEX returned 3.09%/yr vs 8.70%/yr for VTMFX. At a 0.10 correlation, their price movements are largely independent. BATEX charges 0.11%/yr vs 0.09%/yr for VTMFX.
Performance
BATEX vs. VTMFX - Performance Comparison
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Returns By Period
In the year-to-date period, BATEX achieves a 2.73% return, which is significantly lower than VTMFX's 6.03% return. Over the past 10 years, BATEX has underperformed VTMFX with an annualized return of 3.09%, while VTMFX has yielded a comparatively higher 8.70% annualized return.
BATEX
- 1D
- 0.30%
- 1M
- 1.23%
- YTD
- 2.73%
- 6M
- 2.97%
- 1Y
- 7.95%
- 3Y*
- 4.86%
- 5Y*
- 0.76%
- 10Y*
- 3.09%
VTMFX
- 1D
- 0.17%
- 1M
- 3.06%
- YTD
- 6.03%
- 6M
- 6.16%
- 1Y
- 16.91%
- 3Y*
- 12.75%
- 5Y*
- 7.33%
- 10Y*
- 8.70%
BATEX vs. VTMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BATEX BlackRock Allocation Target Shares Series E Portfolio | 2.73% | 3.22% | 4.74% | 6.45% | -14.23% | 8.28% | 5.77% | 10.92% | 1.75% | 8.76% |
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares | 6.03% | 11.28% | 12.17% | 15.55% | -12.69% | 13.10% | 13.31% | 18.01% | -1.40% | 12.61% |
Correlation
The correlation between BATEX and VTMFX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2014 | 0.10 |
The correlation between BATEX and VTMFX shifts across timeframes, from 0.10 (all time) to 0.30 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BATEX vs. VTMFX — Risk / Return Rank
BATEX
VTMFX
BATEX vs. VTMFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Allocation Target Shares Series E Portfolio (BATEX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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 | VTMFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.55 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 3.22 | -0.71 |
| Martin ratioReturn relative to average drawdown | 7.50 | 15.40 | -7.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BATEX | VTMFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.03 | 2.83 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.86 | -0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.96 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.85 | -0.22 |
Drawdowns
BATEX vs. VTMFX - Drawdown Comparison
The maximum BATEX drawdown since its inception was -19.90%, smaller than the maximum VTMFX drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for BATEX and VTMFX.
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Drawdown Indicators
| BATEX | VTMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.90% | -28.49% | +8.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -5.38% | +2.24% |
Max Drawdown (3Y)Largest decline over 3 years | -8.30% | -10.61% | +2.31% |
Max Drawdown (5Y)Largest decline over 5 years | -19.90% | -17.40% | -2.50% |
Max Drawdown (10Y)Largest decline over 10 years | -19.90% | -21.87% | +1.97% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.03% | -3.55% | -0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.12% | -0.07% |
Volatility
BATEX vs. VTMFX - Volatility Comparison
The current volatility for BlackRock Allocation Target Shares Series E Portfolio (BATEX) is 1.38%, while Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) has a volatility of 1.70%. This indicates that BATEX experiences smaller price fluctuations and is considered to be less risky than VTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BATEX | VTMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 1.70% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | 4.75% | -1.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 6.13% | -2.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.78% | 8.52% | -2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.90% | 9.12% | -3.22% |
BATEX vs. VTMFX - Expense Ratio Comparison
BATEX has a 0.11% expense ratio, which is higher than VTMFX's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BATEX vs. VTMFX - Dividend Comparison
BATEX's dividend yield for the trailing twelve months is around 5.07%, more than VTMFX's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BATEX BlackRock Allocation Target Shares Series E Portfolio | 5.07% | 5.01% | 3.74% | 2.98% | 5.41% | 3.29% | 3.50% | 3.80% | 4.75% | 2.88% | 0.98% | 0.13% |
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares | 2.10% | 2.14% | 2.08% | 1.94% | 1.85% | 1.38% | 1.72% | 2.05% | 2.22% | 2.00% | 2.13% | 2.06% |
Frequently Asked Questions
BATEX and VTMFX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTMFX has higher volatility (1.70%) compared to BATEX (1.38%). In terms of maximum drawdown, BATEX dropped -19.90% vs VTMFX's -28.49%.
VTMFX currently has the higher Sharpe Ratio (2.83 vs 2.03), 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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