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KSMUX vs. BATVX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KSMUX vs. BATVX

Last updated Jun 5, 2026

KSMUX (Kansas Municipal Fund) and BATVX (BlackRock Allocation Target Shares) are both Municipal Bonds funds. Over the past 5 years, KSMUX returned -0.20%/yr vs 1.51%/yr for BATVX. At a 0.19 correlation, their price movements are largely independent. KSMUX charges 0.98%/yr vs 0.00%/yr for BATVX.

Performance

KSMUX vs. BATVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kansas Municipal Fund (KSMUX) and BlackRock Allocation Target Shares (BATVX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, KSMUX achieves a 2.10% return, which is significantly higher than BATVX's 0.97% return.

KSMUX

1D
0.00%
1M
0.59%
YTD
2.10%
6M
2.49%
1Y
7.55%
3Y*
2.71%
5Y*
-0.20%
10Y*
1.11%

BATVX

1D
0.00%
1M
0.20%
YTD
0.97%
6M
1.22%
1Y
2.58%
3Y*
2.47%
5Y*
1.51%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

KSMUX vs. BATVX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
KSMUX
Kansas Municipal Fund		2.10%3.35%-1.06%4.53%-9.55%0.72%
BATVX
BlackRock Allocation Target Shares		0.97%2.80%2.48%1.41%-0.10%0.00%

Correlation

The correlation between KSMUX and BATVX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

Correlation (3Y)
Calculated over the trailing 3-year period

0.26

Correlation (5Y)
Calculated over the trailing 5-year period

0.19

Correlation (All Time)
Calculated using the full available price history since May 26, 2021

0.19

The correlation between KSMUX and BATVX shifts across timeframes, from 0.19 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.

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Kansas Municipal Fund

BlackRock Allocation Target Shares

Often compared with KSMUX:
KSMUX vs. MEMUXKSMUX vs. VMTTXKSMUX vs. OKMUXKSMUX vs. VNDFXKSMUX vs. IHFAXKSMUX vs. ICPAXKSMUX vs. IDIVX
Often compared with BATVX:
BATVX vs. CBTAXBATVX vs. COLTXBATVX vs. SEPAXBATVX vs. FOHFXBATVX vs. VPALXBATVX vs. NMTRXBATVX vs. PTEAX

Return for Risk

KSMUX vs. BATVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
KSMUX
KSMUX Risk / Return Rank: 7878
Overall Rank
KSMUX Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
KSMUX Sortino Ratio Rank: 9292
Sortino Ratio Rank
KSMUX Omega Ratio Rank: 9696
Omega Ratio Rank
KSMUX Calmar Ratio Rank: 5656
Calmar Ratio Rank
KSMUX Martin Ratio Rank: 6060
Martin Ratio Rank
BATVX
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.

KSMUX vs. BATVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kansas Municipal Fund (KSMUX) 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.

KSMUXBATVXDifference
Sharpe ratioReturn per unit of total volatility
2.83
3.57

-0.74

Sortino ratioReturn per unit of downside risk
4.64

—

—

Omega ratioGain probability vs. loss probability

1.86

—

—

Calmar ratioReturn relative to maximum drawdown

2.83

—

—

Martin ratioReturn relative to average drawdown

11.71

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KSMUX vs. BATVX - Sharpe Ratio Comparison

The current KSMUX Sharpe Ratio is 2.83, which is comparable to the BATVX Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of KSMUX 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.

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Sharpe Ratios by Period

KSMUXBATVXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.83

3.57

-0.74

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.05

2.39

-2.43

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

2.38

-1.76

Drawdowns

KSMUX vs. BATVX - Drawdown Comparison

The maximum KSMUX drawdown since its inception was -14.61%, which is greater than BATVX's maximum drawdown of -0.20%. Use the drawdown chart below to compare losses from any high point for KSMUX and BATVX.

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Drawdown Indicators

KSMUXBATVXDifference

Max Drawdown

Largest peak-to-trough decline

-14.61%

-0.20%

-14.41%

Max Drawdown (1Y)

Largest decline over 1 year

-2.67%

0.00%

-2.67%

Max Drawdown (3Y)

Largest decline over 3 years

-6.98%

-0.10%

-6.88%

Max Drawdown (5Y)

Largest decline over 5 years

-13.96%

-0.20%

-13.76%

Max Drawdown (10Y)

Largest decline over 10 years

-13.96%

—

—

Current Drawdown

Current decline from peak

-1.64%

0.00%

-1.64%

Average Drawdown

Average peak-to-trough decline

-2.98%

-0.03%

-2.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.65%

0.00%

+0.65%

Volatility

KSMUX vs. BATVX - Volatility Comparison

Kansas Municipal Fund (KSMUX) has a higher volatility of 1.11% compared to BlackRock Allocation Target Shares (BATVX) at 0.20%. This indicates that KSMUX'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.

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Volatility by Period

KSMUXBATVXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.11%

0.20%

+0.91%

Volatility (6M)

Calculated over the trailing 6-month period

2.07%

0.49%

+1.58%

Volatility (1Y)

Calculated over the trailing 1-year period

2.68%

0.73%

+1.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.24%

0.64%

+3.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.97%

0.63%

+3.34%

KSMUX vs. BATVX - Expense Ratio Comparison

KSMUX has a 0.98% expense ratio, which is higher than BATVX's 0.00% expense ratio.

Dividends

KSMUX vs. BATVX - Dividend Comparison

KSMUX's dividend yield for the trailing twelve months is around 3.20%, more than BATVX's 2.55% yield.

PositionTTM20252024202320222021202020192018201720162015
BATVX
BlackRock Allocation Target Shares		2.55%2.76%2.44%1.40%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
KSMUX
Kansas Municipal Fund		3.20%3.13%2.76%2.33%2.00%1.64%1.83%2.70%2.75%2.93%2.88%2.57%

Frequently Asked Questions

KSMUX and BATVX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KSMUX has higher volatility (1.11%) compared to BATVX (0.20%). In terms of maximum drawdown, KSMUX dropped -14.61% vs BATVX's -0.20%.

BATVX currently has the higher Sharpe Ratio (3.57 vs 2.83), 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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