FDUAX vs. BATEX

Last updated Apr 1, 2026

Compare and contrast key facts about First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX) and BlackRock Allocation Target Shares Series E Portfolio (BATEX).

FDUAX is an actively managed fund by First Eagle. It was launched on Feb 2, 2024. BATEX is managed by BlackRock. It was launched on Aug 3, 2014.

Performance

FDUAX vs. BATEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX) and BlackRock Allocation Target Shares Series E Portfolio (BATEX). The values are adjusted to include any dividend payments, if applicable.

FDUAX vs. BATEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FDUAX First Eagle Short Duration High Yield Municipal Fund Class A	-0.44%	1.20%	6.66%
BATEX BlackRock Allocation Target Shares Series E Portfolio	-0.89%	3.22%	5.99%

Returns By Period

In the year-to-date period, FDUAX achieves a -0.44% return, which is significantly higher than BATEX's -0.89% return.

FDUAX

• 1D: 0.10%
• 1M: -1.61%
• YTD: -0.44%
• 6M: -0.53%
• 1Y: -0.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BATEX

• 1D: 0.20%
• 1M: -2.94%
• YTD: -0.89%
• 6M: 0.45%
• 1Y: 1.72%
• 3Y*: 3.51%
• 5Y*: 0.72%
• 10Y*: 2.94%

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

FDUAX vs. BATEX - Expense Ratio Comparison

FDUAX has a 0.87% expense ratio, which is higher than BATEX's 0.11% expense ratio.

FDUAX

First Eagle Short Duration High Yield Municipal Fund Class A

BATEX

BlackRock Allocation Target Shares Series E Portfolio

Return for Risk

FDUAX vs. BATEX — Risk / Return Rank

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

FDUAX

FDUAX Risk / Return Rank: 4
FDUAX Sharpe Ratio Rank: 4
FDUAX Sortino Ratio Rank: 3
FDUAX Omega Ratio Rank: 3
FDUAX Calmar Ratio Rank: 6
FDUAX Martin Ratio Rank: 6

BATEX

BATEX Risk / Return Rank: 13
BATEX Sharpe Ratio Rank: 13
BATEX Sortino Ratio Rank: 11
BATEX Omega Ratio Rank: 18
BATEX Calmar Ratio Rank: 14
BATEX Martin Ratio Rank: 12

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.

FDUAX vs. BATEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX) and BlackRock Allocation Target Shares Series E Portfolio (BATEX). 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.

	FDUAX	BATEX	Difference
Sharpe ratio Return per unit of total volatility	-0.10	0.33	-0.44
Sortino ratio Return per unit of downside risk	-0.11	0.49	-0.60
Omega ratio Gain probability vs. loss probability	0.98	1.11	-0.13
Calmar ratio Return relative to maximum drawdown	0.03	0.39	-0.35
Martin ratio Return relative to average drawdown	0.08	0.98	-0.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDUAX vs. BATEX - Sharpe Ratio Comparison

The current FDUAX Sharpe Ratio is -0.10, which is lower than the BATEX Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of FDUAX and BATEX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FDUAX	BATEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.10	0.33	-0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.13	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	0.58	+0.44

Correlation

The correlation between FDUAX and BATEX is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FDUAX vs. BATEX - Dividend Comparison

FDUAX's dividend yield for the trailing twelve months is around 4.65%, less than BATEX's 4.73% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDUAX First Eagle Short Duration High Yield Municipal Fund Class A	4.65%	4.83%	3.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BATEX BlackRock Allocation Target Shares Series E Portfolio	4.73%	5.01%	3.74%	2.98%	5.41%	3.29%	3.50%	3.80%	4.75%	2.88%	0.98%	0.13%

Drawdowns

FDUAX vs. BATEX - Drawdown Comparison

The maximum FDUAX drawdown since its inception was -3.96%, smaller than the maximum BATEX drawdown of -19.90%. Use the drawdown chart below to compare losses from any high point for FDUAX and BATEX.

Drawdown Indicators

	FDUAX	BATEX	Difference
Max Drawdown Largest peak-to-trough decline	-3.96%	-19.90%	+15.94%
Max Drawdown (1Y) Largest decline over 1 year	-3.96%	-7.14%	+3.18%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.90%	—
Current Drawdown Current decline from peak	-1.61%	-2.94%	+1.33%
Average Drawdown Average peak-to-trough decline	-0.73%	-4.08%	+3.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	2.80%	-1.20%

Volatility

FDUAX vs. BATEX - Volatility Comparison

The current volatility for First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX) is 0.61%, while BlackRock Allocation Target Shares Series E Portfolio (BATEX) has a volatility of 1.31%. This indicates that FDUAX experiences smaller price fluctuations and is considered to be less risky than BATEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDUAX	BATEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	1.31%	-0.70%
Volatility (6M) Calculated over the trailing 6-month period	1.64%	2.29%	-0.65%
Volatility (1Y) Calculated over the trailing 1-year period	4.17%	7.69%	-3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.28%	5.73%	-2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.28%	5.87%	-2.59%