FOSIX vs. BATAX

Last updated Jun 3, 2026

FOSIX (Tributary Short-Intermediate Bond Fund) and BATAX (BlackRock Allocation Target Shares Series A Portfolio) are both Short-Term Bond funds. Over the past 10 years, FOSIX returned 2.38%/yr vs 3.60%/yr for BATAX. A 0.62 correlation means they provide meaningful diversification when combined. FOSIX charges 0.64%/yr vs 0.00%/yr for BATAX.

Performance

FOSIX vs. BATAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tributary Short-Intermediate Bond Fund (FOSIX) and BlackRock Allocation Target Shares Series A Portfolio (BATAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FOSIX achieves a 0.61% return, which is significantly lower than BATAX's 1.98% return. Over the past 10 years, FOSIX has underperformed BATAX with an annualized return of 2.38%, while BATAX has yielded a comparatively higher 3.60% annualized return.

FOSIX

• 1D: -0.11%
• 1M: 0.11%
• YTD: 0.61%
• 6M: 0.97%
• 1Y: 3.78%
• 3Y*: 5.28%
• 5Y*: 2.47%
• 10Y*: 2.38%

BATAX

• 1D: 0.00%
• 1M: 0.45%
• YTD: 1.98%
• 6M: 2.43%
• 1Y: 6.35%
• 3Y*: 6.74%
• 5Y*: 3.43%
• 10Y*: 3.60%

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

FOSIX vs. BATAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FOSIX Tributary Short-Intermediate Bond Fund	0.61%	5.86%	5.47%	5.81%	-4.44%	-0.65%	3.97%	4.35%	1.01%	2.17%
BATAX BlackRock Allocation Target Shares Series A Portfolio	1.98%	7.37%	7.34%	6.43%	-5.87%	1.72%	2.75%	6.76%	2.20%	5.21%

Correlation

The correlation between FOSIX and BATAX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.62

The correlation between FOSIX and BATAX shifts across timeframes, from 0.62 (all time) to 0.73 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FOSIX vs. BATAX — Risk / Return Rank

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

FOSIX

FOSIX Risk / Return Rank: 62
FOSIX Sharpe Ratio Rank: 43
FOSIX Sortino Ratio Rank: 68
FOSIX Omega Ratio Rank: 64
FOSIX Calmar Ratio Rank: 69
FOSIX Martin Ratio Rank: 64

BATAX

BATAX Risk / Return Rank: 97
BATAX Sharpe Ratio Rank: 93
BATAX Sortino Ratio Rank: 99
BATAX Omega Ratio Rank: 98
BATAX Calmar Ratio Rank: 97
BATAX Martin Ratio Rank: 98

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.

FOSIX vs. BATAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tributary Short-Intermediate Bond Fund (FOSIX) and BlackRock Allocation Target Shares Series A Portfolio (BATAX). 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.

	FOSIX	BATAX	Difference
Sharpe ratio Return per unit of total volatility	1.93	3.13	-1.20
Sortino ratio Return per unit of downside risk	3.44	7.91	-4.47
Omega ratio Gain probability vs. loss probability	1.45	2.18	-0.73
Calmar ratio Return relative to maximum drawdown	3.22	7.36	-4.14
Martin ratio Return relative to average drawdown	12.57	30.86	-18.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FOSIX vs. BATAX - Sharpe Ratio Comparison

The current FOSIX Sharpe Ratio is 1.93, which is lower than the BATAX Sharpe Ratio of 3.13. The chart below compares the historical Sharpe Ratios of FOSIX and BATAX, 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

	FOSIX	BATAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	3.13	-1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.09	1.58	-0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.22	1.18	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	1.11	+0.24

Drawdowns

FOSIX vs. BATAX - Drawdown Comparison

The maximum FOSIX drawdown since its inception was -6.58%, smaller than the maximum BATAX drawdown of -17.42%. Use the drawdown chart below to compare losses from any high point for FOSIX and BATAX.

Drawdown Indicators

	FOSIX	BATAX	Difference
Max Drawdown Largest peak-to-trough decline	-6.58%	-17.42%	+10.84%
Max Drawdown (1Y) Largest decline over 1 year	-1.31%	-0.94%	-0.37%
Max Drawdown (3Y) Largest decline over 3 years	-1.31%	-1.15%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	-6.57%	-8.12%	+1.55%
Max Drawdown (10Y) Largest decline over 10 years	-6.58%	-17.42%	+10.84%
Current Drawdown Current decline from peak	-0.22%	0.00%	-0.22%
Average Drawdown Average peak-to-trough decline	-0.82%	-1.30%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	0.22%	+0.12%

Volatility

FOSIX vs. BATAX - Volatility Comparison

The current volatility for Tributary Short-Intermediate Bond Fund (FOSIX) is 0.61%, while BlackRock Allocation Target Shares Series A Portfolio (BATAX) has a volatility of 0.66%. This indicates that FOSIX experiences smaller price fluctuations and is considered to be less risky than BATAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOSIX	BATAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	0.66%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	1.50%	1.49%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	1.98%	2.04%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.27%	2.18%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.95%	3.07%	-1.12%

FOSIX vs. BATAX - Expense Ratio Comparison

FOSIX has a 0.64% expense ratio, which is higher than BATAX's 0.00% expense ratio.

Dividends

FOSIX vs. BATAX - Dividend Comparison

FOSIX's dividend yield for the trailing twelve months is around 4.19%, less than BATAX's 5.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BATAX BlackRock Allocation Target Shares Series A Portfolio	5.73%	5.92%	5.45%	3.91%	3.14%	1.82%	3.22%	4.73%	5.36%	4.10%	0.40%	0.00%
FOSIX Tributary Short-Intermediate Bond Fund	4.19%	4.36%	4.30%	2.86%	2.30%	1.81%	2.19%	2.41%	2.20%	2.26%	2.04%	1.34%

Frequently Asked Questions

Can I hold both FOSIX and BATAX in my portfolio?

FOSIX and BATAX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FOSIX or BATAX?

BATAX has higher volatility (0.66%) compared to FOSIX (0.61%). In terms of maximum drawdown, FOSIX dropped -6.58% vs BATAX's -17.42%.

Which has better risk-adjusted returns?

BATAX currently has the higher Sharpe Ratio (3.13 vs 1.93), 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.