FTORX vs. BATVX

Last updated Aug 1, 2026

FTORX (Delaware Tax-Free Oregon Fund) and BATVX (BlackRock Allocation Target Shares) are both Municipal Bonds funds. Over the past 5 years, FTORX returned 0.31%/yr vs 1.55%/yr for BATVX. Their 0.21 correlation means their historical movements had little consistent relationship. FTORX charges 0.90%/yr vs 0.00%/yr for BATVX.

Performance

FTORX vs. BATVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Tax-Free Oregon Fund (FTORX) and BlackRock Allocation Target Shares (BATVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTORX achieves a 0.89% return, which is significantly lower than BATVX's 1.20% return.

FTORX

• 1D: -0.33%
• 1M: -2.43%
• 6M: 0.32%
• YTD: 0.89%
• 1Y: 6.78%
• 3Y*: 3.14%
• 5Y*: 0.31%
• 10Y*: 1.65%
• ALL TIME*: 4.05%

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

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BATVX BlackRock Allocation Target Shares	$0.00	$0.00	$0.00
FTORX Delaware Tax-Free Oregon Fund	$0.00	$0.00	$0.00

FTORX vs. BATVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FTORX Delaware Tax-Free Oregon Fund	0.89%	2.56%	2.62%	5.94%	-9.85%	1.67%
BATVX BlackRock Allocation Target Shares	1.20%	2.80%	2.48%	1.41%	-0.10%	0.00%

Correlation

The correlation between FTORX and BATVX is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.34
Correlation (3Y) Balances recent behavior with more history.	0.27
Correlation (5Y) Shows whether the relationship held over a longer period.	0.21
Correlation (All Time) Calculated using the full available price history since May 25, 2021	0.21

The correlation between FTORX and BATVX shifts across timeframes, from 0.21 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FTORX vs. BATVX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FTORX

FTORX Risk / Return Rank: 80
FTORX Sharpe Ratio Rank: 87
FTORX Sortino Ratio Rank: 87
FTORX Omega Ratio Rank: 90
FTORX Calmar Ratio Rank: 73
FTORX Martin Ratio Rank: 66

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.

FTORX vs. BATVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Tax-Free Oregon Fund (FTORX) 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.

	FTORX	BATVX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	3.57	-1.42
Sortino ratio: Return per unit of downside risk	3.22	—	—
Omega ratio: Gain probability vs. loss probability	1.50	—	—
Calmar ratio: Return relative to maximum drawdown	2.45	—	—
Martin ratio: Return relative to average drawdown	8.64	—	—

FTORX vs. BATVX - Sharpe Ratio Comparison

The current FTORX Sharpe Ratio is 2.15, which is lower than the BATVX Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of FTORX 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.

Drawdowns

FTORX vs. BATVX - Drawdown Comparison

The maximum FTORX drawdown since its inception was -14.64%, which is greater than BATVX's maximum drawdown of -0.20%. Use the drawdown chart below to compare losses from any high point for FTORX and BATVX.

Drawdown Indicators

	FTORX	BATVX	Difference
Max Drawdown Largest peak-to-trough decline	-14.64%	-0.20%	-14.44%
Max Drawdown (1Y) Largest decline over 1 year	-3.24%	0.00%	-3.24%
Max Drawdown (3Y) Largest decline over 3 years	-7.85%	-0.10%	-7.75%
Max Drawdown (5Y) Largest decline over 5 years	-14.64%	-0.20%	-14.44%
Max Drawdown (10Y) Largest decline over 10 years	-14.64%	—	—
Current Drawdown Current decline from peak	-2.43%	0.00%	-2.43%
Average Drawdown Average peak-to-trough decline	-2.04%	-0.02%	-2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	0.00%	+0.92%

Volatility

FTORX vs. BATVX - Volatility Comparison

Delaware Tax-Free Oregon Fund (FTORX) has a higher volatility of 1.12% compared to BlackRock Allocation Target Shares (BATVX) at 0.00%. This indicates that FTORX'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.

Volatility by Period

	FTORX	BATVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	0.00%	+1.12%
Volatility (6M) Calculated over the trailing 6-month period	2.91%	0.48%	+2.43%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	0.72%	+2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.91%	0.64%	+4.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.37%	0.63%	+3.74%

FTORX vs. BATVX - Expense Ratio Comparison

FTORX has a 0.90% expense ratio, which is higher than BATVX's 0.00% expense ratio.

Dividends

FTORX vs. BATVX - Dividend Comparison

FTORX's dividend yield for the trailing twelve months is around 3.46%, more than BATVX's 2.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
FTORX Delaware Tax-Free Oregon Fund	3.46%	3.62%	3.33%	2.91%	2.99%	2.41%	3.90%	2.98%	2.85%	3.20%	3.27%	3.19%

Frequently Asked Questions

Can I hold both FTORX and BATVX in my portfolio?

FTORX and BATVX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTORX or BATVX?

FTORX has higher volatility (1.12%) compared to BATVX (0.00%). In terms of maximum drawdown, FTORX dropped -14.64% vs BATVX's -0.20%.

Which has better risk-adjusted returns?

BATVX currently has the higher Sharpe Ratio (3.57 vs 2.15), 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.