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MMIBX vs. BATVX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MMIBX vs. BATVX

Last updated Jun 4, 2026

MMIBX (MFS Municipal Income Fund) and BATVX (BlackRock Allocation Target Shares) are both Municipal Bonds funds. Over the past 5 years, MMIBX returned 0.04%/yr vs 1.51%/yr for BATVX. At a 0.18 correlation, their price movements are largely independent. MMIBX charges 1.45%/yr vs 0.00%/yr for BATVX.

Performance

MMIBX vs. BATVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Municipal Income Fund (MMIBX) 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, MMIBX achieves a 1.63% return, which is significantly higher than BATVX's 0.97% return.

MMIBX

1D
0.24%
1M
0.87%
YTD
1.63%
6M
1.88%
1Y
7.08%
3Y*
3.63%
5Y*
0.04%
10Y*
1.53%

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)

MMIBX vs. BATVX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
MMIBX
MFS Municipal Income Fund		1.63%3.56%2.42%5.45%-12.27%0.82%
BATVX
BlackRock Allocation Target Shares		0.97%2.80%2.48%1.41%-0.10%0.00%

Correlation

The correlation between MMIBX and BATVX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.35

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

0.23

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

0.18

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

0.18

The correlation between MMIBX and BATVX shifts across timeframes, from 0.18 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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MFS Municipal Income Fund

BlackRock Allocation Target Shares

Often compared with MMIBX:
MMIBX vs. BIMIXMMIBX vs. AFTEXMMIBX vs. MUBMMIBX vs. DODIXMMIBX vs. BMNMMIBX vs. DFABXMMIBX vs. DFSMX
Often compared with BATVX:
BATVX vs. CBTAXBATVX vs. COLTXBATVX vs. SEPAXBATVX vs. FOHFXBATVX vs. VPALXBATVX vs. NMTRXBATVX vs. PTEAX

Return for Risk

MMIBX vs. BATVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MMIBX
MMIBX Risk / Return Rank: 5656
Overall Rank
MMIBX Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
MMIBX Sortino Ratio Rank: 6969
Sortino Ratio Rank
MMIBX Omega Ratio Rank: 8181
Omega Ratio Rank
MMIBX Calmar Ratio Rank: 3838
Calmar Ratio Rank
MMIBX Martin Ratio Rank: 3535
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.

MMIBX vs. BATVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Municipal Income Fund (MMIBX) 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.

MMIBXBATVXDifference
Sharpe ratioReturn per unit of total volatility
2.20
3.57

-1.37

Sortino ratioReturn per unit of downside risk
3.46

—

—

Omega ratioGain probability vs. loss probability

1.53

—

—

Calmar ratioReturn relative to maximum drawdown

2.32

—

—

Martin ratioReturn relative to average drawdown

7.82

—

—

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

MMIBX vs. BATVX - Sharpe Ratio Comparison

The current MMIBX Sharpe Ratio is 2.20, which is lower than the BATVX Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of MMIBX 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

MMIBXBATVXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.20

3.57

-1.37

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.01

2.39

-2.38

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.35

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.82

2.38

-1.56

Drawdowns

MMIBX vs. BATVX - Drawdown Comparison

The maximum MMIBX drawdown since its inception was -17.40%, which is greater than BATVX's maximum drawdown of -0.20%. Use the drawdown chart below to compare losses from any high point for MMIBX and BATVX.

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Drawdown Indicators

MMIBXBATVXDifference

Max Drawdown

Largest peak-to-trough decline

-17.40%

-0.20%

-17.20%

Max Drawdown (1Y)

Largest decline over 1 year

-3.01%

0.00%

-3.01%

Max Drawdown (3Y)

Largest decline over 3 years

-7.23%

-0.10%

-7.13%

Max Drawdown (5Y)

Largest decline over 5 years

-17.19%

-0.20%

-16.99%

Max Drawdown (10Y)

Largest decline over 10 years

-17.19%

—

—

Current Drawdown

Current decline from peak

-1.01%

0.00%

-1.01%

Average Drawdown

Average peak-to-trough decline

-2.81%

-0.03%

-2.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.89%

0.00%

+0.89%

Volatility

MMIBX vs. BATVX - Volatility Comparison

MFS Municipal Income Fund (MMIBX) has a higher volatility of 1.24% compared to BlackRock Allocation Target Shares (BATVX) at 0.20%. This indicates that MMIBX'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

MMIBXBATVXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.24%

0.20%

+1.04%

Volatility (6M)

Calculated over the trailing 6-month period

2.34%

0.49%

+1.85%

Volatility (1Y)

Calculated over the trailing 1-year period

3.18%

0.73%

+2.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.41%

0.64%

+3.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.34%

0.63%

+3.71%

MMIBX vs. BATVX - Expense Ratio Comparison

MMIBX has a 1.45% expense ratio, which is higher than BATVX's 0.00% expense ratio.

Dividends

MMIBX vs. BATVX - Dividend Comparison

MMIBX's dividend yield for the trailing twelve months is around 2.96%, 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%
MMIBX
MFS Municipal Income Fund		2.96%3.81%2.51%2.05%1.42%1.45%1.86%2.45%2.68%2.67%2.87%2.98%

Frequently Asked Questions

MMIBX and BATVX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MMIBX has higher volatility (1.24%) compared to BATVX (0.20%). In terms of maximum drawdown, MMIBX dropped -17.40% vs BATVX's -0.20%.

BATVX currently has the higher Sharpe Ratio (3.57 vs 2.20), 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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