BTT vs. FNDA

Last updated Jun 5, 2026

BTT (Blackrock Municipal 2030 Target Term Trust) is a stock, while FNDA (Schwab Fundamental US Small Co. Index ETF) is Small Cap Blend Equities fund tracking the Russell RAFI Small Company US. Over the past 10 years, BTT returned 2.79%/yr vs 10.86%/yr for FNDA. At a 0.11 correlation, their price movements are largely independent.

Performance

BTT vs. FNDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Municipal 2030 Target Term Trust (BTT) and Schwab Fundamental US Small Co. Index ETF (FNDA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTT achieves a 0.45% return, which is significantly lower than FNDA's 16.02% return. Over the past 10 years, BTT has underperformed FNDA with an annualized return of 2.79%, while FNDA has yielded a comparatively higher 10.86% annualized return.

BTT

• 1D: 0.31%
• 1M: -0.19%
• YTD: 0.45%
• 6M: 1.19%
• 1Y: 8.28%
• 3Y*: 5.88%
• 5Y*: 0.18%
• 10Y*: 2.79%

FNDA

• 1D: 1.00%
• 1M: 1.84%
• YTD: 16.02%
• 6M: 15.51%
• 1Y: 32.64%
• 3Y*: 16.80%
• 5Y*: 7.27%
• 10Y*: 10.86%

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

BTT vs. FNDA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTT Blackrock Municipal 2030 Target Term Trust	0.45%	13.71%	1.64%	0.76%	-15.16%	3.94%	9.51%	21.85%	-4.63%	6.52%
FNDA Schwab Fundamental US Small Co. Index ETF	16.02%	7.44%	9.00%	20.29%	-14.83%	31.12%	8.44%	24.34%	-12.12%	12.68%

Correlation

The correlation between BTT and FNDA is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Aug 16, 2013	0.11

The correlation between BTT and FNDA shifts across timeframes, from 0.11 (all time) to 0.27 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BTT vs. FNDA — Risk / Return Rank

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

BTT

BTT Risk / Return Rank: 82
BTT Sharpe Ratio Rank: 81
BTT Sortino Ratio Rank: 79
BTT Omega Ratio Rank: 76
BTT Calmar Ratio Rank: 84
BTT Martin Ratio Rank: 88

FNDA

FNDA Risk / Return Rank: 61
FNDA Sharpe Ratio Rank: 57
FNDA Sortino Ratio Rank: 59
FNDA Omega Ratio Rank: 54
FNDA Calmar Ratio Rank: 71
FNDA Martin Ratio Rank: 63

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.

BTT vs. FNDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Municipal 2030 Target Term Trust (BTT) and Schwab Fundamental US Small Co. Index ETF (FNDA). 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.

	BTT	FNDA	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.92	-0.43
Sortino ratio: Return per unit of downside risk	2.26	2.75	-0.49
Omega ratio: Gain probability vs. loss probability	1.28	1.33	-0.05
Calmar ratio: Return relative to maximum drawdown	3.22	3.50	-0.28
Martin ratio: Return relative to average drawdown	10.55	11.31	-0.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTT vs. FNDA - Sharpe Ratio Comparison

The current BTT Sharpe Ratio is 1.49, which is comparable to the FNDA Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of BTT and FNDA, 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

	BTT	FNDA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	1.92	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	0.35	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.49	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.49	-0.20

Drawdowns

BTT vs. FNDA - Drawdown Comparison

The maximum BTT drawdown since its inception was -30.71%, smaller than the maximum FNDA drawdown of -44.64%. Use the drawdown chart below to compare losses from any high point for BTT and FNDA.

Drawdown Indicators

	BTT	FNDA	Difference
Max Drawdown Largest peak-to-trough decline	-30.71%	-44.64%	+13.93%
Max Drawdown (1Y) Largest decline over 1 year	-2.58%	-9.36%	+6.78%
Max Drawdown (3Y) Largest decline over 3 years	-9.63%	-25.92%	+16.29%
Max Drawdown (5Y) Largest decline over 5 years	-23.36%	-25.92%	+2.56%
Max Drawdown (10Y) Largest decline over 10 years	-23.36%	-44.64%	+21.28%
Current Drawdown Current decline from peak	-1.95%	-0.03%	-1.92%
Average Drawdown Average peak-to-trough decline	-7.75%	-6.69%	-1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	2.89%	-2.10%

Volatility

BTT vs. FNDA - Volatility Comparison

The current volatility for Blackrock Municipal 2030 Target Term Trust (BTT) is 1.72%, while Schwab Fundamental US Small Co. Index ETF (FNDA) has a volatility of 4.26%. This indicates that BTT experiences smaller price fluctuations and is considered to be less risky than FNDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTT	FNDA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	4.26%	-2.54%
Volatility (6M) Calculated over the trailing 6-month period	4.47%	11.82%	-7.35%
Volatility (1Y) Calculated over the trailing 1-year period	5.59%	17.11%	-11.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.20%	20.90%	-12.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.72%	22.37%	-12.65%

Dividends

BTT vs. FNDA - Dividend Comparison

BTT's dividend yield for the trailing twelve months is around 2.45%, more than FNDA's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTT Blackrock Municipal 2030 Target Term Trust	2.45%	2.44%	2.70%	3.11%	3.50%	2.89%	2.92%	3.10%	3.93%	4.08%	4.40%	4.46%
FNDA Schwab Fundamental US Small Co. Index ETF	1.08%	1.22%	1.53%	1.37%	1.38%	1.15%	1.31%	1.38%	1.64%	1.30%	1.18%	1.33%

Frequently Asked Questions

Can I hold both BTT and FNDA in my portfolio?

BTT and FNDA have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTT or FNDA?

FNDA has higher volatility (4.26%) compared to BTT (1.72%). In terms of maximum drawdown, BTT dropped -30.71% vs FNDA's -44.64%.

Which has better risk-adjusted returns?

FNDA currently has the higher Sharpe Ratio (1.92 vs 1.49), 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.