HXBIX vs. BATVX

Last updated Jul 18, 2026

HXBIX (Virtus Newfleet Tax-Exempt Bond Fund) and BATVX (BlackRock Allocation Target Shares) are both Municipal Bonds funds. At a 0.18 correlation, their price movements are largely independent. HXBIX charges 0.60%/yr vs 0.00%/yr for BATVX.

Performance

HXBIX vs. BATVX - Performance Comparison

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

Returns By Period

HXBIX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BATVX

• 1D: 0.00%
• 1M: 0.22%
• 6M: 1.20%
• YTD: 1.20%
• 1Y: 2.57%
• 3Y*: 2.44%
• 5Y*: 1.55%
• 10Y*: —

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

HXBIX vs. BATVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HXBIX Virtus Newfleet Tax-Exempt Bond Fund	1.09%	4.22%	0.71%	4.72%	-7.76%	0.50%
BATVX BlackRock Allocation Target Shares	1.20%	2.80%	2.48%	1.41%	-0.10%	0.00%

Correlation

The correlation between HXBIX and BATVX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since May 25, 2021	0.18

The correlation between HXBIX and BATVX shifts across timeframes, from 0.18 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HXBIX vs. BATVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet Tax-Exempt Bond Fund (HXBIX) 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.

	HXBIX	BATVX	Difference
Sharpe ratio: Return per unit of total volatility	—	3.57	—
Sortino ratio: Return per unit of downside risk	—	—	—
Omega ratio: Gain probability vs. loss probability	—	—	—
Calmar ratio: Return relative to maximum drawdown	—	—	—
Martin ratio: Return relative to average drawdown	—	—	—

Drawdowns

Drawdown Indicators

	HXBIX	BATVX	Difference
Max Drawdown Largest peak-to-trough decline	—	-0.20%	—
Max Drawdown (1Y) Largest decline over 1 year	—	0.00%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.20%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.02%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	HXBIX	BATVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	0.72%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.64%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.63%	—

HXBIX vs. BATVX - Expense Ratio Comparison

HXBIX has a 0.60% expense ratio, which is higher than BATVX's 0.00% expense ratio.

Dividends

HXBIX vs. BATVX - Dividend Comparison

HXBIX's dividend yield for the trailing twelve months is around 3.51%, more than BATVX's 2.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BATVX BlackRock Allocation Target Shares	2.54%	2.76%	2.44%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HXBIX Virtus Newfleet Tax-Exempt Bond Fund	3.51%	3.01%	2.47%	2.61%	2.58%	2.05%	2.93%	2.60%	3.41%	3.51%	2.78%	2.87%

Frequently Asked Questions

Can I hold both HXBIX and BATVX in my portfolio?

HXBIX 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.