GHYIX vs. BATEX
GHYIX (Goldman Sachs High Yield Municipal Fund Institutional Class) and BATEX (BlackRock Allocation Target Shares Series E Portfolio) are both High Yield Muni funds. Over the past 10 years, GHYIX returned 3.33%/yr vs 2.87%/yr for BATEX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. GHYIX charges 0.54%/yr vs 0.11%/yr for BATEX.
Performance
GHYIX vs. BATEX - Performance Comparison
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Returns By Period
In the year-to-date period, GHYIX achieves a 1.41% return, which is significantly lower than BATEX's 2.03% return. Over the past 10 years, GHYIX has outperformed BATEX with an annualized return of 3.33%, while BATEX has yielded a comparatively lower 2.87% annualized return.
GHYIX
- 1D
- -0.33%
- 1M
- -2.18%
- 6M
- 0.67%
- YTD
- 1.41%
- 1Y
- 6.60%
- 3Y*
- 4.52%
- 5Y*
- 0.33%
- 10Y*
- 3.33%
- ALL TIME*
- 4.42%
BATEX
- 1D
- -0.40%
- 1M
- -2.25%
- 6M
- 1.20%
- YTD
- 2.03%
- 1Y
- 7.43%
- 3Y*
- 4.61%
- 5Y*
- 0.14%
- 10Y*
- 2.87%
- ALL TIME*
- 3.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
GHYIX vs. BATEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHYIX Goldman Sachs High Yield Municipal Fund Institutional Class | 1.41% | 3.92% | 5.74% | 7.34% | -14.79% | 5.79% | 4.96% | 11.47% | 4.97% | 9.33% |
BATEX BlackRock Allocation Target Shares Series E Portfolio | 2.03% | 3.22% | 4.74% | 6.45% | -14.23% | 8.28% | 5.77% | 10.92% | 1.75% | 8.76% |
Correlation
The correlation between GHYIX and BATEX is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2014 | 0.74 |
The correlation between GHYIX and BATEX shifts across timeframes, from 0.74 (all time) to 0.84 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GHYIX vs. BATEX — Risk / Return Rank
GHYIX
BATEX
GHYIX vs. BATEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs High Yield Municipal Fund Institutional Class (GHYIX) 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.
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.
| GHYIX | BATEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.54 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 2.79 | -0.21 |
| Martin ratioReturn relative to average drawdown | 9.32 | 10.25 | -0.93 |
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Drawdowns
GHYIX vs. BATEX - Drawdown Comparison
The maximum GHYIX drawdown since its inception was -35.88%, which is greater than BATEX's maximum drawdown of -19.90%. Use the drawdown chart below to compare losses from any high point for GHYIX and BATEX.
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Drawdown Indicators
| GHYIX | BATEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.88% | -19.90% | -15.98% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -3.14% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -7.56% | -7.23% | -0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -19.75% | -19.90% | +0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -19.82% | -19.90% | +0.08% |
Current DrawdownCurrent decline from peak | -2.18% | -2.25% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -4.58% | -3.98% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.85% | -0.01% |
Volatility
GHYIX vs. BATEX - Volatility Comparison
The current volatility for Goldman Sachs High Yield Municipal Fund Institutional Class (GHYIX) is 1.01%, while BlackRock Allocation Target Shares Series E Portfolio (BATEX) has a volatility of 1.08%. This indicates that GHYIX 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.
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Volatility by Period
| GHYIX | BATEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 1.08% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 2.94% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.47% | 3.79% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 5.80% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.40% | 5.90% | -0.50% |
GHYIX vs. BATEX - Expense Ratio Comparison
GHYIX has a 0.54% expense ratio, which is higher than BATEX's 0.11% expense ratio.
Dividends
GHYIX vs. BATEX - Dividend Comparison
GHYIX's dividend yield for the trailing twelve months is around 4.28%, less than BATEX's 4.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BATEX BlackRock Allocation Target Shares Series E Portfolio | 4.64% | 5.01% | 3.74% | 2.98% | 5.41% | 3.29% | 3.50% | 3.80% | 4.75% | 2.88% | 0.98% | 0.13% |
GHYIX Goldman Sachs High Yield Municipal Fund Institutional Class | 4.28% | 6.12% | 4.38% | 3.56% | 3.04% | 3.06% | 3.44% | 4.03% | 4.12% | 4.36% | 4.81% | 4.88% |
Frequently Asked Questions
GHYIX and BATEX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BATEX has higher volatility (1.08%) compared to GHYIX (1.01%). In terms of maximum drawdown, GHYIX dropped -35.88% vs BATEX's -19.90%.
BATEX currently has the higher Sharpe Ratio (2.31 vs 2.26), 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.
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