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EXDVX vs. BATVX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EXDVX vs. BATVX

Last updated Aug 4, 2026
Documentation

EXDVX (Manning & Napier Divrs Tax Exempt Series Fund) and BATVX (BlackRock Allocation Target Shares) are both Municipal Bonds funds. Over the past 5 years, EXDVX returned 0.31%/yr vs 1.55%/yr for BATVX. Their 0.07 correlation means their historical movements had little consistent relationship. EXDVX charges 0.63%/yr vs 0.00%/yr for BATVX.

Performance

EXDVX vs. BATVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manning & Napier Divrs Tax Exempt Series Fund (EXDVX) and BlackRock Allocation Target Shares (BATVX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, EXDVX achieves a -0.32% return, which is significantly lower than BATVX's 1.20% return.

EXDVX

1D
-0.10%
1M
-1.18%
6M
-1.04%
YTD
-0.32%
1Y
2.86%
3Y*
2.42%
5Y*
0.31%
10Y*
1.33%
ALL TIME*
1.91%

BATVX

1D
0.00%
1M
0.00%
6M
1.04%
YTD
1.20%
1Y
2.36%
3Y*
2.36%
5Y*
1.55%
10Y*
—
ALL TIME*
1.50%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

BATVX

BlackRock Allocation Target Shares
$0.00$0.00$0.00

EXDVX

Manning & Napier Divrs Tax Exempt Series Fund
$0.00$0.00$0.00

EXDVX vs. BATVX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
EXDVX
Manning & Napier Divrs Tax Exempt Series Fund		-0.32%4.30%0.41%4.10%-5.83%0.02%
BATVX
BlackRock Allocation Target Shares		1.20%2.80%2.48%1.41%-0.10%0.00%

Correlation

The correlation between EXDVX and BATVX is 0.11, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.11

Correlation (3Y)
Balances recent behavior with more history.

0.08

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.07

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

0.07

Compare stocks, funds, or ETFs

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Manning & Napier Divrs Tax Exempt Series Fund

BlackRock Allocation Target Shares

Often compared with EXDVX:
EXDVX vs. EXOSXEXDVX vs. MNDFXEXDVX vs. EXBAXEXDVX vs. EXHAXEXDVX vs. EXEYXEXDVX vs. MNBAXEXDVX vs. EXCRX
Often compared with BATVX:
BATVX vs. CBTAXBATVX vs. FOHFXBATVX vs. PTEAXBATVX vs. VPALXBATVX vs. COLTXBATVX vs. SEPAXBATVX vs. NMTRX

Return for Risk

EXDVX vs. BATVX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EXDVX
EXDVX Risk / Return Rank: 5555
Overall Rank
EXDVX Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
EXDVX Sortino Ratio Rank: 6868
Sortino Ratio Rank
EXDVX Omega Ratio Rank: 8686
Omega Ratio Rank
EXDVX Calmar Ratio Rank: 2727
Calmar Ratio Rank
EXDVX Martin Ratio Rank: 2424
Martin Ratio Rank
BATVX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EXDVX vs. BATVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Divrs Tax Exempt Series Fund (EXDVX) and BlackRock Allocation Target Shares (BATVX). 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.

EXDVXBATVXDifference
Sharpe ratioReturn per unit of total volatility
1.78
3.41

-1.63

Sortino ratioReturn per unit of downside risk
2.43

—

—

Omega ratioGain probability vs. loss probability

1.43

—

—

Calmar ratioReturn relative to maximum drawdown

1.30

—

—

Martin ratioReturn relative to average drawdown

3.64

—

—

EXDVX vs. BATVX - Sharpe Ratio Comparison

The current EXDVX Sharpe Ratio is 1.78, which is lower than the BATVX Sharpe Ratio of 3.41. The chart below compares the historical Sharpe Ratios of EXDVX and BATVX, 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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Drawdowns

EXDVX vs. BATVX - Drawdown Comparison

The maximum EXDVX drawdown since its inception was -12.74%, which is greater than BATVX's maximum drawdown of -0.20%. Use the drawdown chart below to compare losses from any high point for EXDVX and BATVX.

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Drawdown Indicators

EXDVXBATVXDifference

Max Drawdown

Largest peak-to-trough decline

-12.74%

-0.20%

-12.54%

Max Drawdown (1Y)

Largest decline over 1 year

-2.44%

0.00%

-2.44%

Max Drawdown (3Y)

Largest decline over 3 years

-3.74%

-0.10%

-3.64%

Max Drawdown (5Y)

Largest decline over 5 years

-9.21%

-0.20%

-9.01%

Max Drawdown (10Y)

Largest decline over 10 years

-9.29%

—

—

Current Drawdown

Current decline from peak

-1.89%

0.00%

-1.89%

Average Drawdown

Average peak-to-trough decline

-2.18%

-0.02%

-2.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.87%

0.00%

+0.87%

Volatility

EXDVX vs. BATVX - Volatility Comparison

Manning & Napier Divrs Tax Exempt Series Fund (EXDVX) has a higher volatility of 0.67% compared to BlackRock Allocation Target Shares (BATVX) at 0.00%. This indicates that EXDVX's price experiences larger fluctuations and is considered to be riskier than BATVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EXDVXBATVXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.67%

0.00%

+0.67%

Volatility (6M)

Calculated over the trailing 6-month period

1.46%

0.48%

+0.98%

Volatility (1Y)

Calculated over the trailing 1-year period

1.79%

0.72%

+1.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.71%

0.64%

+2.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.97%

0.63%

+2.34%

EXDVX vs. BATVX - Expense Ratio Comparison

EXDVX has a 0.63% expense ratio, which is higher than BATVX's 0.00% expense ratio.

Dividends

EXDVX vs. BATVX - Dividend Comparison

EXDVX's dividend yield for the trailing twelve months is around 2.37%, more than BATVX's 2.33% yield.

PositionTTM20252024202320222021202020192018201720162015
BATVX
BlackRock Allocation Target Shares		2.33%2.76%2.44%1.40%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EXDVX
Manning & Napier Divrs Tax Exempt Series Fund		2.37%2.26%1.87%1.67%0.61%6.02%1.69%2.81%1.38%1.25%1.10%0.86%

Frequently Asked Questions

EXDVX and BATVX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EXDVX has higher volatility (0.67%) compared to BATVX (0.00%). In terms of maximum drawdown, EXDVX dropped -12.74% vs BATVX's -0.20%.

BATVX currently has the higher Sharpe Ratio (3.41 vs 1.78), 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.

Portfolio Optimizer

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