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BATVX vs. FONPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BATVX vs. FONPX

Last updated Jun 6, 2026

BATVX (BlackRock Allocation Target Shares) and FONPX (Tributary Nebraska Tax-Free Fund) are both Municipal Bonds funds. Over the past 5 years, BATVX returned 1.51%/yr vs 1.06%/yr for FONPX. At a 0.19 correlation, their price movements are largely independent. BATVX charges 0.00%/yr vs 0.45%/yr for FONPX.

Performance

BATVX vs. FONPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Allocation Target Shares (BATVX) and Tributary Nebraska Tax-Free Fund (FONPX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BATVX achieves a 0.97% return, which is significantly lower than FONPX's 1.14% return.

BATVX

1D
0.00%
1M
0.20%
YTD
0.97%
6M
1.22%
1Y
2.58%
3Y*
2.47%
5Y*
1.51%
10Y*
—

FONPX

1D
0.11%
1M
0.45%
YTD
1.14%
6M
1.58%
1Y
5.86%
3Y*
3.52%
5Y*
1.06%
10Y*
1.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BATVX vs. FONPX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
BATVX
BlackRock Allocation Target Shares		0.97%2.80%2.48%1.41%-0.10%0.00%
FONPX
Tributary Nebraska Tax-Free Fund		1.14%5.26%0.63%4.76%-6.17%0.49%

Correlation

The correlation between BATVX and FONPX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.25

Correlation (5Y)
Calculated over the trailing 5-year period

0.19

Correlation (All Time)
Calculated using the full available price history since May 26, 2021

0.19

The correlation between BATVX and FONPX shifts across timeframes, from 0.19 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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BlackRock Allocation Target Shares

Tributary Nebraska Tax-Free Fund

Often compared with BATVX:
BATVX vs. CBTAXBATVX vs. COLTXBATVX vs. SEPAXBATVX vs. FOHFXBATVX vs. VPALXBATVX vs. NMTRXBATVX vs. PTEAX
Often compared with FONPX:
FONPX vs. FOBAXFONPX vs. FOSCXFONPX vs. FOSIXFONPX vs. FOINXFONPX vs. FSMBXFONPX vs. FHMIXFONPX vs. DFABX

Return for Risk

BATVX vs. FONPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BATVX
FONPX
FONPX Risk / Return Rank: 6969
Overall Rank
FONPX Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
FONPX Sortino Ratio Rank: 8888
Sortino Ratio Rank
FONPX Omega Ratio Rank: 9292
Omega Ratio Rank
FONPX Calmar Ratio Rank: 4141
Calmar Ratio Rank
FONPX Martin Ratio Rank: 3838
Martin Ratio Rank
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.

BATVX vs. FONPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Allocation Target Shares (BATVX) and Tributary Nebraska Tax-Free Fund (FONPX). 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.

BATVXFONPXDifference
Sharpe ratioReturn per unit of total volatility
3.57
2.73

+0.84

Sortino ratioReturn per unit of downside risk

—

4.23

—

Omega ratioGain probability vs. loss probability

—

1.69

—

Calmar ratioReturn relative to maximum drawdown

—

2.36

—

Martin ratioReturn relative to average drawdown

—

7.99

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BATVX vs. FONPX - Sharpe Ratio Comparison

The current BATVX Sharpe Ratio is 3.57, which is higher than the FONPX Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of BATVX and FONPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

BATVXFONPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.57

2.73

+0.84

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

2.38

0.33

+2.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.55

—

Sharpe Ratio (All Time)

Calculated using the full available price history

2.38

0.59

+1.79

Drawdowns

BATVX vs. FONPX - Drawdown Comparison

The maximum BATVX drawdown since its inception was -0.20%, smaller than the maximum FONPX drawdown of -10.92%. Use the drawdown chart below to compare losses from any high point for BATVX and FONPX.

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Drawdown Indicators

BATVXFONPXDifference

Max Drawdown

Largest peak-to-trough decline

-0.20%

-10.92%

+10.72%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-2.54%

+2.54%

Max Drawdown (3Y)

Largest decline over 3 years

-0.10%

-5.09%

+4.99%

Max Drawdown (5Y)

Largest decline over 5 years

-0.20%

-10.92%

+10.72%

Max Drawdown (10Y)

Largest decline over 10 years

—

-10.92%

—

Current Drawdown

Current decline from peak

0.00%

-0.58%

+0.58%

Average Drawdown

Average peak-to-trough decline

-0.03%

-1.91%

+1.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

0.75%

-0.75%

Volatility

BATVX vs. FONPX - Volatility Comparison

The current volatility for BlackRock Allocation Target Shares (BATVX) is 0.20%, while Tributary Nebraska Tax-Free Fund (FONPX) has a volatility of 0.92%. This indicates that BATVX experiences smaller price fluctuations and is considered to be less risky than FONPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BATVXFONPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.20%

0.92%

-0.72%

Volatility (6M)

Calculated over the trailing 6-month period

0.49%

1.77%

-1.28%

Volatility (1Y)

Calculated over the trailing 1-year period

0.73%

2.21%

-1.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.64%

3.24%

-2.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.63%

3.29%

-2.66%

BATVX vs. FONPX - Expense Ratio Comparison

BATVX has a 0.00% expense ratio, which is lower than FONPX's 0.45% expense ratio.

Dividends

BATVX vs. FONPX - Dividend Comparison

BATVX's dividend yield for the trailing twelve months is around 2.55%, less than FONPX's 2.62% yield.

PositionTTM2025202420232022202120202019201820172016
BATVX
BlackRock Allocation Target Shares		2.55%2.76%2.44%1.40%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
FONPX
Tributary Nebraska Tax-Free Fund		2.62%2.47%2.39%2.39%1.81%1.84%1.92%2.69%3.36%3.55%3.10%

Frequently Asked Questions

BATVX and FONPX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FONPX has higher volatility (0.92%) compared to BATVX (0.20%). In terms of maximum drawdown, BATVX dropped -0.20% vs FONPX's -10.92%.

BATVX currently has the higher Sharpe Ratio (3.57 vs 2.73), 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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