BVATX vs. BOPIX

Last updated Jul 11, 2026

BVATX (Sterling Capital Virginia Intermediate Tax Free Fund) and BOPIX (Sterling Capital Special Opportunities Fund) are both mutual funds - BVATX is a Municipal Bonds fund managed by Sterling Capital, while BOPIX is a Large Cap Blend Equities fund managed by Sterling Capital. Over the past 10 years, BVATX returned 1.34%/yr vs 13.04%/yr for BOPIX. At a correlation of -0.08, they often move in opposite directions. BVATX charges 0.58%/yr vs 0.87%/yr for BOPIX.

Performance

BVATX vs. BOPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sterling Capital Virginia Intermediate Tax Free Fund (BVATX) and Sterling Capital Special Opportunities Fund (BOPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BVATX achieves a 0.73% return, which is significantly lower than BOPIX's 10.05% return. Over the past 10 years, BVATX has underperformed BOPIX with an annualized return of 1.34%, while BOPIX has yielded a comparatively higher 13.04% annualized return.

BVATX

• 1D: 0.00%
• 1M: 0.21%
• 6M: 0.28%
• YTD: 0.73%
• 1Y: 3.99%
• 3Y*: 2.89%
• 5Y*: 0.58%
• 10Y*: 1.34%

BOPIX

• 1D: 0.76%
• 1M: 1.39%
• 6M: 6.82%
• YTD: 10.05%
• 1Y: 20.90%
• 3Y*: 18.06%
• 5Y*: 10.01%
• 10Y*: 13.04%

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

BVATX vs. BOPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BVATX Sterling Capital Virginia Intermediate Tax Free Fund	0.73%	4.70%	0.32%	3.60%	-5.59%	-0.59%	4.28%	6.32%	0.79%	3.28%
BOPIX Sterling Capital Special Opportunities Fund	10.05%	13.38%	21.00%	25.16%	-20.04%	27.75%	13.46%	35.34%	-4.54%	19.63%

Correlation

The correlation between BVATX and BOPIX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since May 30, 2003	-0.08

The correlation between BVATX and BOPIX shifts across timeframes, from -0.08 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BVATX vs. BOPIX — Risk / Return Rank

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

BVATX

BVATX Risk / Return Rank: 59
BVATX Sharpe Ratio Rank: 75
BVATX Sortino Ratio Rank: 77
BVATX Omega Ratio Rank: 88
BVATX Calmar Ratio Rank: 28
BVATX Martin Ratio Rank: 25

BOPIX

BOPIX Risk / Return Rank: 31
BOPIX Sharpe Ratio Rank: 38
BOPIX Sortino Ratio Rank: 35
BOPIX Omega Ratio Rank: 34
BOPIX Calmar Ratio Rank: 24
BOPIX Martin Ratio Rank: 26

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.

BVATX vs. BOPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sterling Capital Virginia Intermediate Tax Free Fund (BVATX) and Sterling Capital Special Opportunities Fund (BOPIX). 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.

	BVATX	BOPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.36	+0.60
Sortino ratio: Return per unit of downside risk	2.87	1.88	+0.99
Omega ratio: Gain probability vs. loss probability	1.51	1.24	+0.27
Calmar ratio: Return relative to maximum drawdown	1.52	1.37	+0.15
Martin ratio: Return relative to average drawdown	4.61	4.60	+0.01

BVATX vs. BOPIX - Sharpe Ratio Comparison

The current BVATX Sharpe Ratio is 1.95, which is higher than the BOPIX Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of BVATX and BOPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BVATX vs. BOPIX - Drawdown Comparison

The maximum BVATX drawdown since its inception was -10.24%, smaller than the maximum BOPIX drawdown of -51.68%. Use the drawdown chart below to compare losses from any high point for BVATX and BOPIX.

Drawdown Indicators

	BVATX	BOPIX	Difference
Max Drawdown Largest peak-to-trough decline	-10.24%	-51.68%	+41.44%
Max Drawdown (1Y) Largest decline over 1 year	-2.57%	-14.94%	+12.37%
Max Drawdown (3Y) Largest decline over 3 years	-4.25%	-21.69%	+17.44%
Max Drawdown (5Y) Largest decline over 5 years	-9.97%	-25.02%	+15.05%
Max Drawdown (10Y) Largest decline over 10 years	-10.24%	-38.76%	+28.52%
Current Drawdown Current decline from peak	-0.92%	-2.77%	+1.85%
Average Drawdown Average peak-to-trough decline	-1.61%	-6.07%	+4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	4.44%	-3.59%

Volatility

BVATX vs. BOPIX - Volatility Comparison

The current volatility for Sterling Capital Virginia Intermediate Tax Free Fund (BVATX) is 0.45%, while Sterling Capital Special Opportunities Fund (BOPIX) has a volatility of 3.96%. This indicates that BVATX experiences smaller price fluctuations and is considered to be less risky than BOPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BVATX	BOPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.45%	3.96%	-3.51%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	12.10%	-10.45%
Volatility (1Y) Calculated over the trailing 1-year period	2.00%	15.09%	-13.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.81%	18.71%	-15.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.18%	19.30%	-16.12%

BVATX vs. BOPIX - Expense Ratio Comparison

BVATX has a 0.58% expense ratio, which is lower than BOPIX's 0.87% expense ratio.

Dividends

BVATX vs. BOPIX - Dividend Comparison

BVATX's dividend yield for the trailing twelve months is around 2.55%, less than BOPIX's 17.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOPIX Sterling Capital Special Opportunities Fund	17.14%	18.87%	16.95%	17.90%	7.84%	12.03%	1.24%	10.09%	9.17%	7.89%	1.88%	15.18%
BVATX Sterling Capital Virginia Intermediate Tax Free Fund	2.55%	3.36%	2.67%	1.89%	1.81%	1.65%	2.03%	2.27%	2.24%	2.20%	3.06%	2.71%

Frequently Asked Questions

Can I hold both BVATX and BOPIX in my portfolio?

BVATX and BOPIX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BVATX or BOPIX?

BOPIX has higher volatility (3.96%) compared to BVATX (0.45%). In terms of maximum drawdown, BVATX dropped -10.24% vs BOPIX's -51.68%.

Which has better risk-adjusted returns?

BVATX currently has the higher Sharpe Ratio (1.95 vs 1.36), 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.